THE ELIZABETH CITY STATE UNIV FOUNDATION Charity Report

Public IRS 990 nonprofit record

THE ELIZABETH CITY STATE UNIV FOUNDATION

EIN 23-7115345 · Education (B1143)

What they do

GOVERNED BY A 20 MEMBER BOARD, THE FOUNDATIONS PURPOSE is to AID, SUPPORT and PROMOTE TEACHING, RESEARCH and SERVICES IN THE VARIOUS EDUCATIONAL, SCIENTIFIC, SCHOLARLY, PROFESSIONAL, ARTISTIC and CREATIVE ENDEAVORS of THE UNIVERSITY. THE ECSU FOUNDATION is COMMITTED to ENDURING THE FUTURE of THE UNIVERSITY BY BUILDING ECSUS ENDOWMENT to PROVIDE for ITS NEED IN PERPETUITY. THE INVESTMENT and ANNUAL REINVESTMENT, ALLOWED AT A HIGHER RATE of RETURN THAN OTHER RESERVE FUNDS, of THE ECSU FOUNDATION ENDOWMENT ALLOWS THE UNIVERSITY to INCREASE ITS IMPACT ON THE REGION AS WELL AS THE CAPACITY to MEET THE NEEDS of THE STUDENTS IT SERVES.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $76.50 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders20 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

57.20%of revenue went to mission work76.5% of expenses · Program services

$74.77spent for every $100 of revenueRevenue covered expenses this year.

17.57%of revenue went to management and office costs23.5% of expenses

$9.56in assets for every $1 spent this yearSome assets cannot be spent right away.

51.2%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $65,837 for KEVIN WADE (EXECUTIVE DIRECTOR/NON-VOTING MEMBER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$3,154,495

Mission workProgram services$1,804,24757.20% of revenue76.5% of expenses

ManagementOffice and general costs$554,21817.57% of revenue23.5% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$796,03025.23% of revenueShown in gray on the chart

Total expenses$2,358,46574.77% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 76.5% mission · 23.5% management · 0.0% fundraisingTotal expenses: 74.77% of revenue

2023Expense mix: 75.6% mission · 24.4% management · 0.0% fundraisingTotal expenses: 72.20% of revenue

2022Expense mix: 71.8% mission · 28.2% management · 0.0% fundraisingTotal expenses: 92.03% of revenue

2021Expense mix: 77.7% mission · 22.3% management · 0.0% fundraisingTotal expenses: 91.02% of revenue

2020Expense mix: 95.2% mission · 4.8% management · 0.0% fundraisingTotal expenses: 339.29% of revenue

2019Expense mix: 80.9% mission · 19.1% management · 0.0% fundraisingTotal expenses: 65.99% of revenue

2018Expense mix: 94.1% mission · 5.9% management · 0.0% fundraisingTotal expenses: 207.64% of revenue

2017Expense mix: 88.7% mission · 11.3% management · 0.0% fundraisingTotal expenses: 123.84% of revenue

Money in and money out

Revenue$3,154,495

Expenses$2,358,465

Annual surplus $796,030 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$1,804,247 · 76.5% of expenses

Management and office costs$554,218 · 23.5% of expenses

See all reported dollar amounts

Revenue$3,154,495

Expenses$2,358,465

Assets$22,540,024

Income$5,328,387

Contributions$1,614,941

Mission work (program services)$1,804,247

Grants given$14,213,264

Average grant$1,015,233

Management and general$554,218

Stocks and bonds$9,836,344

Accounting fees$39,703

Investing fees$38,193

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

KEVIN WADEEXECUTIVE DIRECTOR/NON-VOTING MEMBER · 40 hrs/week $65,837Base · Other $65,837

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (20)

KEVIN WADEEXECUTIVE DIRECTOR/NON-VOTING MEMBER

KENNETH WEEDENBOARD MEMBER

TIMOTHY MINORBOARD MEMBER

SADIE JOHNSON-CARTERBOARD MEMBER

ROBERT THIBEAULTNON-VOTING BOARD MEMBER

RAYMOND WEAVERBOARD MEMBER

NYLISSA SNAGGNON-VOTING BOARD MEMBER

LORI GIBBSBOARD MEMBER

LISA WESTBROOKBOARD MEMBER

KIMREY RHINEHARDTCHAIRMAN

ANNALISA CARAWAN MORGANSECRETARY

JERMAINE MCKINLEYTREASURER

JENNIFER BAILEYBOARD MEMBER

JAMES CHERRY IIBOARD MEMBER

JAMES BELLBOARD MEMBER

DIANA M GARDNERBOARD MEMBER

COL RANDY B BELLBOARD MEMBER

CHRISTINE EVANSNON-VOTING BOARD MEMBER

CATHERINE EDMONDSINTERIM CHANCELLOR

BERNADINE A COBBVICE CHAIRMAN

About this charity

Recognized since: January 1971
Location: 1704 WEEKSVILLE RD, ELIZABETH CTY, NC 27909-7977
County: Pasquotank
In care of: LADANIEL GATLING II
Primary officer: LADANIEL GATLING II, VICE CHANCELLOR

How to reach them

WebsiteVisit the charity’s website Phone(252) 335-3225

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: CHERRY BEKAERT ADVISORY LLC
NTEE classification: Education (B1143)
IRS tax category: Other Grantmaking and Giving Services
Grant-giving organization: Yes