Nc State Study Center

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EIN 99-2624844 Religious organization Raleigh, NC NTEE X20

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Nc State Study Center Form 990 (PDF) Claim this org

Form 990 (PDF) Claim this org

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).

Offers educational and religious programs to university students, faculty, and guests, with public access to facilities and discussions. For fiscal year 2024 it reported $431K in revenue, $280K in expenses, and $386K in net assets.Pt I

Founded: 2024
Type: Religious organization · Religion
Location: Raleigh, NC
Website: www.ncstatestudycenter.org
Filings: 1 on file (2024–2024)

Revenue

$431KFY2024

Expenses

$280K

Net assets

$386K

People

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Provided by the organization

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Size

$100K–1M

What they do

Offers educational and religious programs to university students, faculty, and guests, with public access to facilities and discussions.

Leadership

Herb Bales · Director

Money in and out

$431K revenue, $280K expenses

Bottom line

52% program efficiency

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

GOOD

Yes — A charitable, religious, educational, scientific, or literary organization. Contributions are generally tax-deductible for donors.

IRS Business Master File records this organization as tax-exempt with deductible contributions. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Filed FY2024 (typical filing lag)

Most recent Form 990 on file is for fiscal year 2024 (2 years ago). See detail →

Is it receiving grants from reputable foundations?

GOOD

2 funders, incl. M & J Foundation INC

2 distinct foundation funder(s) on file, $57K received in the most recent year with grants. See detail →

How is the money spent?

WARNING

52% to programs

52% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

$100K–1M

Revenue band $100K–1M. Not enough years on file for a trend. See detail →

Where the money goes · FY2024

Total revenue

$431K

Pt VIII · Ln 12

Total expenses

$280K

Pt IX · Ln 25

Net assets

$386K

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): $151K

Where spending went · Part IX cols B–D

52%

48%

Program services $0.52 Management & general $0.48

Program efficiency

52%

of spending reaches programs

Operating runway

28.1mo

months of highly liquid reserves at operating expense rate

Surplus margin

+35%

revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990

Revenue less expensesPt I · Ln 19$151K

Total assetsPt X · Ln 16$1.4M

Program-expense ratioPt IX · col B52%

Voting members of governing bodyPt I · Ln 36

Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File

Legal name (IRS)Hdr · item CNc State Study Center

EINHdr · item D99-2624844

Principal addressHdr · item CRaleigh, NC

WebsiteHdr · item Jwww.ncstatestudycenter.org

Year of formationHdr · item L2024

State of legal domicileHdr · item MNC

Exempt statusHdr · item I501(c)(3) · active

NTEE classificationIRS BMFReligion (X20)

Ruling yearIRS BMFJun 2024

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a6

Independent voting membersPt VI · Ln 1b5

Conflict-of-interest policyPt VI · Ln 12aYes

Whistleblower policyPt VI · Ln 13Yes

Document retention policyPt VI · Ln 14Yes

CEO/top-official compensation independently reviewedPt VI · Ln 15aYes

Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Herb Bales

Director

$0Pt VII · Sec A

Bonnie Yarboro

Director

$0Pt VII · Sec A

Jay Best

Treasurer

$0Pt VII · Sec A

James Wiley

President and Chair

$0Pt VII · Sec A

Madison Perry

Secretary

$0Pt VII · Sec A

Thomas Gatewood III

Execuive Director

$0Pt VII · Sec A

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Mission & Programs · Part III

Where the work happens

1 program service account for $145K of program spending, described in the organization's own filed words · FY2024.

Our mission is to focus our education and religious efforts to students, faculty, and guests of NC State University. Persons unaffiliated with the institution may still be permitted to use our facilities and attend our discussions. We hope to offer our facility to the public.

$145Kprogram expense

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Statement of Revenue

Part VIII

Contributions & grants$424K · 98%

Investment income$6K · 1%

Contributions & grants98%$424K

Investment income1%$6K

Program service revenue$810

Other revenue$878

Total revenueLn 12$431K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

52%

48%

Program services $0.52 Management & general $0.48

Program services52%$145K

Management & general48%$135K

Total functional expensesLn 25$280K

Balance Sheet

Part X · end of year

CashLn 1$91K

Total assetsLn 16$1.4M

Total liabilitiesLn 26$1.0M

Total net assetsLn 32$386K

Months of cash on handcomputed3.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $91K · Operating expenses (Pt IX) $280K · Less non-cash grants $241K · Cash operating expenses/yr $39K

28.1 months

Where the money goes

Program services

Program services $145K · Total expenses $280K

52%

Management & General

Management & general $135K · Total expenses $280K

48%

Fundraising

Fundraising $0 · Total expenses $280K

Cost to raise $1

Fundraising expense $0 · Solicited contributions $424K

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $424K · Total revenue $431K

98%

Government reliance

Government grants — · Total revenue $431K

—

Earned-income share

Program service revenue $810 · Total revenue $431K

0.2%

Investment reliance

Investment income $6K · Total revenue $431K

+1%

Program self-sufficiency

Program service revenue $810 · Total expenses $280K

0.3%

Growth & trend

Revenue growth (YoY)

This year $431K · Prior year —

No prior year on file

Net-asset trend (YoY)

End of year $386K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $431K · Expenses $280K

+35%

Liabilities-to-Assets

Total liabilities — · Total assets $1.4M

—

Net-asset ratio

Net assets $386K · Total assets $1.4M

27%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.4M

Excludes program-related investments (Pt X, ln 13)

People & payroll

Highest Reported Total Compensation

Individual Herb Bales · Reported title Director · Highest reported compensation $0 · Total expenses $280K

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $133K · Total expenses $280K

47%

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	52%	—	—
Overhead ratio	48%	—	—
Fundraising cost ratio	0%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record

Grants received · FY2024

M & J Foundation INCFY2024$50K

Natl Christian Charitable Fdn INCFY2024$7K

Total grants receivedfrom 2 funders$57K

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Filings & Schedule Manifest

Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

FY2024 (Latest)$431K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2024IRS

Classification, formation year, addressIRS Business Master File

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