Nonprofit · EIN 75-6690165
OTHA E HERRING SCHOLARSHIP FUND I
Tax-exempt · RALEIGH, NC 27626
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $223,074 | $213,030 | $10,044 | $3,486,555 | $0 | $3,486,555 |
| June 30, 2024 | 990 | $138,185 | $202,171 | -$63,986 | $3,471,913 | $0 | $3,471,913 |
| June 30, 2023 | 990 | $794,142 | $194,450 | $599,692 | $3,538,068 | $0 | $3,538,068 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $223,074
- Net gain from sales of assets
- $127,356
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $178,735
- Compensation of officers, directors and key employees
- $32,486
- Salaries, compensation and benefits (total)
- $32,486
- Professional fundraising fees
- $0
- Program services (functional)
- $196,787
- Management and general (functional)
- $16,243
Balance sheet and other
- Total assets, start of year
- $3,471,913
- Total assets, end of year
- $3,486,555
- Total liabilities, end of year
- $0
- Net assets, end of year
- $3,486,555
- Land, buildings and equipment
- $11,445
- Publicly traded securities
- $3,392,191
- Gross receipts
- $1,493,773
- Employees
- 0
- Year formed
- 2003
- 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 | From related orgs |
|---|---|---|---|---|
| KEN BUCHANAN | TRUSTEE Trustee or director | 40 | $0 | $185,000 |
| TIM WOODWARD | TRUSTEE Trustee or director | 40 | $0 | $111,000 |
| BRIAN BLACKBURN | TRUSTEE Trustee or director | 40 | $0 | $65,000 |
| FIRST CITIZENS BANK | TRUSTEE Institutional trustee | – | $32,486 | $0 |
| LYNNE SMITH | TRUSTEE Trustee or director | – | $0 | $0 |
| MARY DRUMMOND | TRUSTEE Trustee or director | – | $0 | $0 |
| CLARK DRUMMOND | TRUSTEE Trustee or director | – | $0 | $0 |
990 for the year ended June 30, 2024: 7 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| KEN BUCHANAN | TRUSTEE Trustee or director | 1 | $0 | $185,000 |
| TIM WOODWARD | TRUSTEE Trustee or director | 1 | $0 | $111,000 |
| BRIAN BLACKBURN | TRUSTEE Trustee or director | 1 | $0 | $65,000 |
| FIRST CITIZENS BANK | TRUSTEE Institutional trustee | 1 | $30,003 | $0 |
| LYNNE SMITH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARY DRUMMOND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CLARK DRUMMOND | TRUSTEE Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| KEN BUCHANAN | TRUSTEE Trustee or director | 1 | $0 | $170,000 |
| TIM WOODWARD | TRUSTEE Trustee or director | 1 | $0 | $104,000 |
| BRIAN BLACKBURN | TRUSTEE Trustee or director | 1 | $0 | $65,000 |
| TRUIST BANK | TRUSTEE Institutional trustee | 1 | $19,310 | $0 |
| FIRST CITIZENS BANK | TRUSTEE Institutional trustee | 1 | $7,846 | $0 |
| LYNNE SMITH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARY DRUMMOND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CLARK DRUMMOND | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 29522, RALEIGH, NC 27626-0522
- In care of
- % BRANCH BANKING AND TRUST COMPANY
- Principal officer (990 for 2024)
- LOUIS VALKER, P O BOX 29522, RALEIGH, NC 27626
- Signed the 990
- LOUIS VALKER, DIRECTOR
- Phone
- (919) 716-2015
- Return prepared by
- ERNST & YOUNG US LLP
Mission
PROVIDE FUNDING FOR SCHOLARSHIPS FOR RESIDENTS OF DUPLIN COUNTY AND THE TOWN OF MOUNT OLIVE, NC WHO ARE FULL OR PART-TIME STUDENTS OF MOUNT OLIVE COLLEGE
Program accomplishments
- PROVIDE SCHOLARSHIPS TO STUDENTS WHO ATTEND MT. OLIVE COLLEGEExpenses $194,978 · grants $178,735
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
- 75-6690165
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2003
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $3,486,555
- Income (IRS master file)
- $1,493,773
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $223,074 | $213,030 | $3,486,555 | XML |
| 990 | June 2024 | $138,185 | $202,171 | $3,471,913 | XML |
| 990 | June 2023 | $794,142 | $194,450 | $3,538,068 | XML |
| 990 | June 2022 | $166,693 | $214,604 | $2,939,225 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 75-6690165).
Questions about OTHA E HERRING SCHOLARSHIP FUND I
- What is the EIN of OTHA E HERRING SCHOLARSHIP FUND I?
- The employer identification number (EIN) of OTHA E HERRING SCHOLARSHIP FUND I is 75-6690165.
- Is OTHA E HERRING SCHOLARSHIP FUND I tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to OTHA E HERRING SCHOLARSHIP FUND I tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does OTHA E HERRING SCHOLARSHIP FUND I 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 OTHA E HERRING SCHOLARSHIP FUND I 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 OTHA E HERRING SCHOLARSHIP FUND I 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 OTHA E HERRING SCHOLARSHIP FUND I?
- The 990 for the year ended June 30, 2025 names LOUIS VALKER.
- Who are the officers and directors of OTHA E HERRING SCHOLARSHIP FUND I?
- The 990 for the year ended June 30, 2025 lists 7 people; 1 received compensation from the organization.
- How much revenue does OTHA E HERRING SCHOLARSHIP FUND I have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $223,074, expenses of $213,030 and total assets of $3,486,555 at year end.
Other nonprofits in RALEIGH
- NC STATE INVESTMENT FUND INC EIN 31-1607634 · last filed 990 for 2025
- NORTH CAROLINA STATE UNIVERSITY FOUNDATION INC EIN 56-6049503 · last filed 990 for 2025
- NORTH CAROLINA PARTNERSHIP FOR CHILDREN INC EIN 56-1850485 · last filed 990 for 2025
- MEREDITH COLLEGE EIN 56-0530242 · last filed 990 for 2025
- THALES ACADEMY EIN 20-8920342 · last filed 990 for 2025
- NC STUDENT AID ASSOCIATION INC EIN 56-0650623 · last filed 990 for 2025
- RAVENSCROFT SCHOOL INC EIN 56-6001583 · last filed 990 for 2025
- NC STATE ENGINEERING FOUNDATION INC EIN 56-6046987 · last filed 990 for 2025