Nonprofit · EIN 56-1782403
NORTH CAROLINA FREEENTERPRISE FOUNDATION
Tax-exempt · RALEIGH, NC 27605
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $516,165 | $424,892 | $91,273 | $226,106 | $22,408 | $203,698 |
| December 31, 2024 | 990 | $343,368 | $249,456 | $93,912 | $130,614 | $18,190 | $112,424 |
| December 31, 2023 | 990 | $293,201 | $265,099 | $28,102 | $87,193 | $68,681 | $18,512 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $474,395
- Program service revenue
- $41,682
- Investment income
- $88
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $2,995
- Accounting fees
- $7,768
- Occupancy
- $18,547
- Travel
- $6,411
- Program services (functional)
- $298,309
- Management and general (functional)
- $60,674
- Fundraising (functional)
- $65,909
Balance sheet and other
- Total assets, start of year
- $130,615
- Total assets, end of year
- $226,106
- Total liabilities, end of year
- $22,408
- Net assets, end of year
- $203,698
- Net assets without donor restrictions
- $148,323
- Net assets with donor restrictions
- $55,375
- Gross receipts
- $516,165
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1992
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MIKE RUSHER | CHAIR Trustee or director, Officer | 5 | $0 |
| GRANT BROOKS | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| RYAN MINTO | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| MICHAEL MCKNIGHT | SECRETARY Trustee or director, Officer | 2 | $0 |
| EC SYKES | TREASURER Trustee or director, Officer | 2 | $0 |
| BILL BROWN | DIRECTOR Trustee or director | 1 | $0 |
| JERRY BOWEN | DIRECTOR Trustee or director | 1 | $0 |
| D BOWEN HEATH | DIRECTOR Trustee or director | 1 | $0 |
| CHARLES F FULLER | DIRECTOR Trustee or director | 1 | $0 |
| CINDY MORGAN | DIRECTOR Trustee or director | 1 | $0 |
| ROBIN PERKINS | DIRECTOR Trustee or director | 1 | $0 |
| RALPH STRAYHORN | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MIKE RUSHER | CHAIR Trustee or director, Officer | 5 | $0 |
| GRANT BROOKS | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| RYAN MINTO | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| MICHAEL MCKNIGHT | SECRETARY Trustee or director, Officer | 2 | $0 |
| EC SYKES | TREASURER Trustee or director, Officer | 2 | $0 |
| BILL BROWN | DIRECTOR Trustee or director | 1 | $0 |
| JERRY BOWEN | DIRECTOR Trustee or director | 1 | $0 |
| D BOWEN HEATH | DIRECTOR Trustee or director | 1 | $0 |
| CHARLES F FULLER | DIRECTOR Trustee or director | 1 | $0 |
| CINDY MORGAN | DIRECTOR Trustee or director | 1 | $0 |
| ROBIN PERKINS | DIRECTOR Trustee or director | 1 | $0 |
| RALPH STRAYHORN | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANNA BEAVON GRAVELY | EXEC DIR Officer | 40 | $0 |
| MIKE RUSHER | CHAIR Trustee or director, Officer | 5 | $0 |
| GRANT BROOKS | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| RYAN MINTO | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| MICHAEL MCKNIGHT | SECRETARY Trustee or director, Officer | 2 | $0 |
| EC SYKES | TREASURER Trustee or director, Officer | 2 | $0 |
| BILL BROWN | DIRECTOR Trustee or director | 1 | $0 |
| JERRY BOWEN | DIRECTOR Trustee or director | 1 | $0 |
| D BOWEN HEATH | DIRECTOR Trustee or director | 1 | $0 |
| CHARLES F FULLER | DIRECTOR Trustee or director | 1 | $0 |
| CINDY MORGAN | DIRECTOR Trustee or director | 1 | $0 |
| ROBIN PERKINS | DIRECTOR Trustee or director | 1 | $0 |
| RALPH STRAYHORN | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 12406, RALEIGH, NC 27605-2406
- Principal officer (990 for 2025)
- MIKE RUSHER, PO BOX 12406, RALEIGH, NC 27605
- Signed the 990
- MIKE RUSHER, CHAIR
- Phone
- (919) 896-8347
- Website
- WWW.NCFREE.ORG
- Return prepared by
- STEWARD INGRAM & COOPER PLLC
Mission
TO PROVIDE INNOVATIVE EDUCATIONAL PROGRAMS, NON-PARTISAN POLITICAL RESEARCH, AND OBJECTIVE ANALYSIS TO FOSTER INFORMED CIVIC INVOLVEMENT, DEVELOP AN UNDERSTANDING OF THE FREE ENTERPRISE ECONOMY, AND STRENGTHEN NORTH CAROLINA'S PROSPEROUS BUSINESS ENVIRONMENT.
Program accomplishments
- DIRECTED EDUCATIONAL PROGRAMS AND NON-PARTISAN POLITICAL RESEARCH TO FOSTER CIVIC INVOLVEMENT AND UNDERSTANDING OF THE FREE ENTERPRISE SYSTEM, INCLUDING CUSTOMIZED PRESENTATIONS TO VARIOUS COMPANIES AND ORGANIZATIONS, A VARIETY OF EVENTS LIKE POLITICAL BRIEFINGS FOR THE BUSINESS COMMUNITY AND PUBLIC, AND A LEADERSHIP FORUM WITH STATE LEVEL DECISION-MAKERS AVAILABLE TO THE PUBLIC AND KEY STAKEHOLDERS IN THE BUSINESS COMMUNITY.Expenses $298,309 · revenue $41,682
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1782403
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1993
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Unknown (Z99Z)
- Assets (IRS master file)
- $226,106
- Income (IRS master file)
- $516,165
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $516,165 | $424,892 | $226,106 | XML |
| 990 | December 2024 | $343,368 | $249,456 | $130,614 | IRS |
| 990 | December 2023 | $293,201 | $265,099 | $87,193 | XML |
| 990 | December 2022 | $273,278 | $365,531 | $120,068 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1782403).
Questions about NORTH CAROLINA FREEENTERPRISE FOUNDATION
- What is the EIN of NORTH CAROLINA FREEENTERPRISE FOUNDATION?
- The employer identification number (EIN) of NORTH CAROLINA FREEENTERPRISE FOUNDATION is 56-1782403.
- Is NORTH CAROLINA FREEENTERPRISE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to NORTH CAROLINA FREEENTERPRISE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NORTH CAROLINA FREEENTERPRISE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NORTH CAROLINA FREEENTERPRISE FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NORTH CAROLINA FREEENTERPRISE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of NORTH CAROLINA FREEENTERPRISE FOUNDATION?
- The 990 for the year ended December 31, 2025 names MIKE RUSHER.
- Who are the officers and directors of NORTH CAROLINA FREEENTERPRISE FOUNDATION?
- The 990 for the year ended December 31, 2025 lists 12 people; 0 received compensation from the organization.
- How much revenue does NORTH CAROLINA FREEENTERPRISE FOUNDATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $516,165, expenses of $424,892 and total assets of $226,106 at year end.
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