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Nonprofit · EIN 56-1803864

TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION

Tax-exempt · RALEIGH, NC 27610

Financials

$258K$231K2023$384K$347K2024
Revenue Expenses · by fiscal year end
Financials of TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$384,180$347,210$36,970$131,220$52,009$79,211
December 31, 2023990$257,760$231,302$26,458$213,128$170,887$42,241
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$132,900
Program service revenue
$251,280
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$71,250
Compensation of officers, directors and key employees
$20,000
Salaries, compensation and benefits (total)
$20,000
Professional fundraising fees
$0
Legal fees
$11,883
Occupancy
$35,578
Travel
$27,925
Program services (functional)
$266,634
Management and general (functional)
$80,576

Balance sheet and other

Total assets, start of year
$213,128
Total assets, end of year
$131,220
Total liabilities, end of year
$52,009
Net assets, end of year
$79,211
Gross receipts
$384,180
Employees
0
Volunteers
15
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, 2024, highest compensation first.

NameTitleHours / weekCompensation
BILL SEWELLEXECUTIVE DIRECTOR
Trustee or director
4$20,000
CHRISTOPHER SMITHSECRETARY & TREASURER
Trustee or director, Officer
1$0
TAMMY JONESBOARD MEMBER
Trustee or director
1$0
SHANNON SCOTTPRESIDENT
Trustee or director, Officer
1$0
LINDSAY WILLISBOARD MEMBER
Trustee or director
1$0
CIERRA WALLBOARD MEMBER
Trustee or director
1$0
TANYA PULLEYBOARD MEMBER
Trustee or director
1$0
WILLIAM CLAYTONBOARD MEMBER
Trustee or director
1$0
JOHN MITCHELLBOARD MEMBER
Trustee or director
1$0
YATES PARISHBOARD MEMBER
Trustee or director
1$0
990 for the year ended December 31, 2023: 13 people
NameTitleHours / weekCompensation
BILL SEWELLEXECUTIVE DIRECTOR
Trustee or director
4$20,000
BOBBY GUTHRIEMEMBER EMERITUS
Trustee or director
1$0
CHRISTOPHER SMITHSECRETARY & TREASURER
Trustee or director, Officer
1$0
IAN WG SAUERMEMBER EMERITUS
Trustee or director
1$0
RUDY WATSONMEMBER EMERITUS
Trustee or director
1$0
TAMMY JONESBOARD MEMBER
Trustee or director
1$0
SHANNON SCOTTPRESIDENT
Trustee or director, Officer
1$0
LINDSAY WILLISBOARD MEMBER
Trustee or director
1$0
CIERRA WALLBOARD MEMBER
Trustee or director
1$0
TANYA PULLEYBOARD MEMBER
Trustee or director
1$0
WILLIAM CLAYTONBOARD MEMBER
Trustee or director
1$0
JOHN MITCHELLRNBOARD MEMBER
Trustee or director
1$0
YATES PARISHBOARD MEMBER
Trustee or director
1$0

Address and contacts

Address (IRS master file)
CO CHRIS SMITH 5405 PEACENEST DR, RALEIGH, NC 27610-0000
In care of
% JOHN BOONE
Principal officer (990 for 2024)
CHRISTOPHER B SMITH, 5405 PEACENEST DRIVE, RALEIGH, NC 27610
Signed the 990
CHRISTOPHER B SMITH, SECRETARY & TREASURER
Phone
(919) 607-9476
Return prepared by
EAG TRIANGLE LLC

Mission

THE TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION IS A 501(C)3 NON-PROFIT ORGANIZATION THAT WAS ESTABLISHED IN 1994 TO OVERSEE THE JOHN WALL HOLIDAY INVITATIONAL BASKETBALL TOURNAMENT AND TO PROVIDE SCHOLARSHIPS TO TRIANGLE AREA HIGH SCHOOL STUDENTS. THE JOHN WALL HOLIDAY INVITATIONAL TOURNAMENT HAS BECOME A HOLIDAY TRADITION FOR THE TRIANGLE COMMUNITY AND HAS PROVIDED LIFELONG ATHLETIC EXPERIENCES FOR PLAYERS, COACHES AND FANS. THE PROCEEDS OF THE TOURNAMENT AND THE GENEROUS ANNUAL GIFT FROM THE JOHN WALL FAMILY FOUNDATION HAVE MADE IT POSSIBLE FOR THE TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION TO HAVE AWARDED MORE THAN $1 MILLION IN SCHOLARSHIPS. IN 2009 THE FOUNDATION ESTABLISHED NEW CRITERIA FOR THE SCHOLARSHIPS IN ORDER TO MAKE A BIGGER IMPACT ON THE WINNERS. STUDENTS FROM 43 PUBLIC SCHOOLS IN THE TRIANGLE ARE NOW ELIGIBLE TO RECEIVE ONE OF THE TEN SCHOLARSHIPS IN THE AMOUNT OF $5000 THAT GOES TOWARDS THEIR COLLEGE EDUCATION DURING THEIR FRESHMAN YEAR OF COLLEGE.

990 for the year ended December 31, 2024

Program accomplishments

  • TEAF SPONSORS TEAMS FROM ALL OVER THE COUNTRY TO COME AND COMPETE IN A 4-DAY TOURNAMENT FOR MEN'S AND WOMEN'S HIGH SCHOOL BASKETBALL. $71,250 IN SCHOLARSHIPS WERE AWARDED TO DESERVING STUDENTS THROUGHOUT THE TRIANGLE AREA.
    Expenses $266,634 · grants $71,250 · revenue $251,280

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
56-1803864
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
1994
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$131,220
Income (IRS master file)
$384,180

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$384,180$347,210$131,220XML
990December 2023$257,760$231,302$213,128XML
990December 2022$215,132$245,392$145,819IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 56-1803864).

Questions about TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION

What is the EIN of TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION?
The employer identification number (EIN) of TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION is 56-1803864.
Is TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
Are donations to TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does TRIANGLE EDUCATIONAL ADVANCEMENT 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 TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION?
The 990 for the year ended December 31, 2024 names CHRISTOPHER B SMITH.
Who are the officers and directors of TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION?
The 990 for the year ended December 31, 2024 lists 10 people; 1 received compensation from the organization, the highest $20,000 (BILL SEWELL, EXECUTIVE DIRECTOR).
How much revenue does TRIANGLE EDUCATIONAL ADVANCEMENT FOUNDATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $384,180, expenses of $347,210 and total assets of $131,220 at year end.

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