Nonprofit · EIN 56-6058412
EDUCATIONAL FOUNDATION INC
Tax-exempt · CHAPEL HILL, NC 27515
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $99,241,416 | $66,441,509 | $32,799,907 | $251,317,086 | $98,570,383 | $152,746,703 |
| June 30, 2024 | 990 | $76,461,125 | $64,647,364 | $11,813,761 | $223,104,596 | $111,199,274 | $111,905,322 |
| June 30, 2023 | 990 | $81,777,973 | $78,781,027 | $2,996,946 | $213,331,120 | $120,099,717 | $93,231,403 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $91,303,432
- Membership dues
- $18,708,145
- Program service revenue
- $0
- Investment income
- $7,937,984
- Net gain from sales of assets
- $6,262,221
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $47,698,837
- Compensation of officers, directors and key employees
- $1,671,722
- Other salaries and wages
- $3,710,029
- Salaries, compensation and benefits (total)
- $6,058,438
- Professional fundraising fees
- $35,378
- Legal fees
- $50,515
- Accounting fees
- $154,745
- Travel
- $628,704
- Depreciation
- $31,398
- Program services (functional)
- $58,067,831
- Management and general (functional)
- $3,973,699
- Fundraising (functional)
- $4,399,979
Balance sheet and other
- Total assets, start of year
- $223,104,596
- Total assets, end of year
- $251,317,086
- Total liabilities, end of year
- $98,570,383
- Net assets, end of year
- $152,746,703
- Land, buildings and equipment
- $153,322
- Net assets without donor restrictions
- -$5,515,741
- Net assets with donor restrictions
- $158,262,444
- Gross receipts
- $99,241,416
- Employees
- 63
- Volunteers
- 200
- Year formed
- 1938
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN MONTGOMERY | EXECUTIVE DIRECTOR Officer | 40 | $553,703 | $36,958 |
| KEN MACK | SR ASSOC EXEC DIR LEAD GIFTS Officer | 40 | $273,217 | $36,278 |
| DIANE ALDRIDGE | CFO & GENERAL COUNSEL Officer | 40 | $267,750 | $30,566 |
| SETH REEVES | CHIEF REVENUE OFFICER Key employee | 40 | $243,798 | $26,913 |
| ELIZABETH MACKETHAN | SENIOR PHILANTHROPY OFFICER Highest-paid employee | 40 | $230,444 | $22,382 |
| MATT TERRELL | CHIEF STRATEGY & COMMS OFFICER Officer | 40 | $213,319 | $31,060 |
| GARY BURNS | SENIOR ASSOCIATE OF MAJOR GIFTS Highest-paid employee | 40 | $186,017 | $30,291 |
| EMILY STEVENS | MAJOR GIFTS DIRECTOR Highest-paid employee | 40 | $170,343 | $24,951 |
| JAMES RICHARDS | SENIOR DIRECTOR OF MAJOR GIFTS Highest-paid employee | 40 | $143,459 | $19,938 |
| BRIAN BERSTICKER | DIRECTOR OF MEMBER SERVICES Highest-paid employee | 40 | $127,512 | $25,270 |
| EMILY COBLE | SENIOR DIRECTOR OF FINANCE Officer | 40 | $119,935 | $21,468 |
| ANNE LLOYD | CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| TOM CHEWNING | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| TODD POPE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| SUSAN GROSS | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
21 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STEVE VETTER | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| ROB BIZZELL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| RALPH MEEKINS | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| MILT PETTY | TREASURER Trustee or director, Officer | 0 | $0 |
| MICHAEL KENNEDY | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| MICHAEL ANDREASEN | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| LOWRY CAUDILL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| KEITH STONEMAN | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| JIM SIGMAN | VICE CHAIR Trustee or director, Officer | 0 | $0 |
| TOM MANN | SECRETARY Trustee or director, Officer | 0 | $0 |
| IV CULP | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| VAUGHN MOORE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| DONNA CURTIS MCCLATCHEY | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| AURELIA STAFFORD MONK | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| BRIAN GOLSON | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| DAVE BOLIEK | EXECUTIVE BOARD MBR (1/2 YEAR) Trustee or director | 0 | $0 |
| EILEEN BRUMBACK | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| DEWEY BURKE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| DWIGHT STONE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| FRANK BRENNER | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 |
| DON WILLIAMS | PAST CHAIR Trustee or director, Officer | 0 | $0 |
990 for the year ended June 30, 2024: 37 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN MONTGOMERY | EXECUTIVE DIRECTOR Officer | 40 | $649,326 | $36,024 |
| KEN MACK | SR ASSOC EXEC DIR LEAD GIF Officer | 40 | $322,280 | $35,344 |
| DIANE ALDRIDGE | CFO & GENERAL COUNSEL Officer | 40 | $263,040 | $31,877 |
| SETH REEVES | CHIEF REVENUE OFFICER Highest-paid employee | 40 | $262,287 | $29,713 |
| MATT TERRELL | CHIEF STRATEGY & COMMS OFF Officer | 40 | $240,279 | $29,892 |
| GARY BURNS | SENIOR DIRECTOR OF MAJOR G Highest-paid employee | 40 | $208,814 | $29,066 |
| ERIC MONTROSS | SENIOR DIR OF PRINCIPAL GIFTS Highest-paid employee | 40 | $215,630 | $14,789 |
| EMILY STEVENS | MAJOR GIFTS DIRECTOR Highest-paid employee | 40 | $190,250 | $23,928 |
| ELIZABETH MACKETHAN | SENIOR PHILANTHROPY OFFICER Highest-paid employee | 40 | $190,374 | $18,436 |
| EMILY COBLE | SENIOR DIRECTOR OF FINANCE Officer | 40 | $118,205 | $22,521 |
| ALGE CRUMPLER | EXECUTIVE BOARD MBR. Trustee or director | 0 | $0 | $0 |
| DONNA CURTIS MCCLATCHEY | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| SHARON ROTHWELL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| JIM SIGMAN | VICE CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| VAUGHN MOORE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DEWEY BURKE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| BRIAN GOLSON | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| ALAN CALDWELL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DON HARDISON | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| IV CULP | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| MICHAEL KENNEDY | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| AURELIA STAFFORD MONK | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| TOM CHEWNING | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| KEN WILLIAMS | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| LOWRY CAUDILL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| FRANK BRENNER | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DWIGHT STONE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DON WILLIAMS | PAST CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| ANNE LLOYD | CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| MILT PETTY | TREASURER Trustee or director, Officer | 0 | $0 | $0 |
| TOM MANN | SECRETARY Trustee or director, Officer | 0 | $0 | $0 |
| DAVE BOLIEK | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| RALPH MEEKINS | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| MICHAEL ANDREASEN | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| TODD POPE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| SUSAN GROSS | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| KEITH STONEMAN | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
990 for the year ended June 30, 2023: 37 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN MONTGOMERY | EXECUTIVE DIRECTOR Officer | 40 | $607,635 | $33,442 |
| KEN MACK | SR ASSOC EXEC DIR LEAD GIF Officer | 40 | $291,398 | $32,830 |
| DIANE ALDRIDGE | CFO & GENERAL COUNSEL Officer | 40 | $267,914 | $28,020 |
| MATT TERRELL | CHIEF STRATEGY & COMMS OFF Officer | 40 | $226,405 | $27,500 |
| SETH REEVES | CHIEF REVENUE OFFICER Highest-paid employee | 40 | $200,782 | $14,350 |
| EMILY STEVENS | MAJOR GIFTS DIRECTOR Highest-paid employee | 40 | $182,086 | $21,297 |
| GARY BURNS | SENIOR DIRECTOR OF MAJOR G Highest-paid employee | 40 | $164,252 | $26,754 |
| BRIAN BERSTICKER | DIRECTOR OF MEMBER SERVICES Highest-paid employee | 40 | $141,882 | $18,166 |
| JAMES RICHARDS | MAJOR GIFTS DIRECTOR Highest-paid employee | 40 | $119,034 | $12,789 |
| EMILY COBLE | SENIOR DIRECTOR OF FINANCE Officer | 40 | $109,641 | $21,483 |
| ALGE CRUMPLER | EXECUTIVE BOARD MBR. Trustee or director | 0 | $0 | $0 |
| DONNA CURTIS MCCLATCHEY | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| SHARON ROTHWELL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| JIM SIGMAN | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| VAUGHN MOORE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DEWEY BURKE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| MELANIE BIESE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| BRIAN GOLSON | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| ALAN CALDWELL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DON HARDISON | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| IV CULP | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| MICHAEL KENNEDY | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| AURELIA STAFFORD MONK | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| TOM CHEWNING | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| KEN WILLIAMS | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| LOWRY CAUDILL | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| FRANK BRENNER | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DWIGHT STONE | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DON WILLIAMS | CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| ANNE LLOYD | VICE CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| STEVE VETTER | PAST CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| MILT PETTY | TREASURER Trustee or director, Officer | 0 | $0 | $0 |
| TOM MANN | SECRETARY Trustee or director, Officer | 0 | $0 | $0 |
| DAVE BOLIEK | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| RALPH MEEKINS | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| DAVID ROUTH | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
| MICHAEL ANDREASEN | EXECUTIVE BOARD MBR Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 2446, CHAPEL HILL, NC 27515-2446
- In care of
- % DIANE S ALDRIDGE
- Principal officer (990 for 2024)
- JOHN MONTGOMERY, 450 SKIPPER BOWLES D, CHAPEL HILL, NC 27599
- Signed the 990
- DIANE ALDRIDGE, CFO & GENERAL COUNSEL
- Phone
- (919) 843-2000
- Website
- WWW.RAMSCLUB.COM
- Return prepared by
- KPMG LLP
Mission
SEE SCHEDULE O
Program accomplishments
- CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL: CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL TO PROVIDE SCHOLARSHIP ASSISTANCE TO STUDENT ATHLETES.Expenses $26,965,497 · grants $16,596,503
- CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL:CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL TO PROVIDE FINANCIAL ASSISTANCE TO OPERATING BUDGETS FOR 28 SPORTS, TO PROVIDE DEBT SERVICE FOR PREVIOUS RENOVATIONS OF ATHLETIC FACILITIES, TO PROVIDE ASSISTANCE WITH CONSTRUCTION OF PARKING FACILITIES ON CAMPUS, AND TO PROVIDE FINANCIAL ASSISTANCE TO VARIOUS OTHER ATHLETIC PROGRAMS AND PROJECTS.Expenses $21,625,588 · grants $21,625,588
- CONVERSION OF PLAYING SURFACE IN KENAN STADIUM FROM TURF TO NATURAL GRASS. RENOVATIONS TO THE KENAN FOOTBALL CENTER, FINLEY GOLF COURSE, CHEWNING TENNIS COMPLEX, AND THE WOMEN'S BASKETBALL LOCKER ROOM AND OFFICE AREA. RENOVATIONS TO WOOLLEN GYM TO CREATE A PRACTICE FACILITY FOR WOMEN'S BASKETBALL. PLANNING COSTS FOR NEW GOLF TEAM BUILDING. UPDATES TO THE SOFTBALL STADIUM AND FINLEY CLUBHOUSE. RENOVATIONS TO BOSHAMER STADIUM. RENOVATIONS TO RESTROOMS AND ADA IMPROVEMENTS IN THE SMITH CENTER. REPAIR SMITH CENTER ROOF. IMPROVEMENTS TO LOCKER ROOM IN KOURY NATATORIUM.Expenses $9,476,746 · grants $9,476,746
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-6058412
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Organization supporting a government college or university
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1939
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $251,317,086
- Income (IRS master file)
- $99,241,416
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $99,241,416 | $66,441,509 | $251,317,086 | IRS |
| 990 | June 2024 | $76,461,125 | $64,647,364 | $223,104,596 | IRS |
| 990 | June 2023 | $81,777,973 | $78,781,027 | $213,331,120 | XML |
| 990 | June 2022 | $82,405,052 | $44,922,056 | $210,237,588 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 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 56-6058412).
Questions about EDUCATIONAL FOUNDATION INC
- What is the EIN of EDUCATIONAL FOUNDATION INC?
- The employer identification number (EIN) of EDUCATIONAL FOUNDATION INC is 56-6058412.
- Is EDUCATIONAL FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1939.
- Are donations to EDUCATIONAL FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does EDUCATIONAL FOUNDATION INC 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 EDUCATIONAL FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did EDUCATIONAL FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of EDUCATIONAL FOUNDATION INC?
- The 990 for the year ended June 30, 2025 names JOHN MONTGOMERY.
- Who are the officers and directors of EDUCATIONAL FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 36 people; 11 received compensation from the organization, the highest $553,703 (JOHN MONTGOMERY, EXECUTIVE DIRECTOR).
- How much revenue does EDUCATIONAL FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $99,241,416, expenses of $66,441,509 and total assets of $251,317,086 at year end.
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