COLLEGE FOUNDATION INC Our work today makes a better tomorrow by empowering people to achieve their academic goals. At June 30, 2024, the Foundation was servicing a loan portfolio valued at $147,984,435 and administering North Carolina's National College Savings Program with a portfolio valued at $3,646,813,222. During the tax year ended June 30, 2024, students used the CFNC.org website to submit 359,921 applications to NC colleges, 312,205 students used the Residency Determination Service, and the Foundation disbursed $228,284,965 in state grants.
Annual Revenue
$27,329,303
Known Funders
12
Grants Received
21
Financial History
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2023 | $27,329,303 | $24,977,798 | $51,135,122 |
| 2022 | $31,424,429 | $27,659,962 | $52,501,264 |
| 2021 | $28,583,113 | $27,893,424 | $54,729,699 |
| 2020 | $27,866,306 | $26,815,025 | $52,338,286 |
| 2019 | $28,460,458 | $28,484,911 | $51,700,629 |
| 2018 | $28,116,782 | $28,397,805 | $51,427,610 |
| 2017 | $28,415,354 | $27,172,267 | $51,292,354 |
| 2016 | $26,538,744 | $25,688,254 | $51,277,043 |
Top Funders
DURHAM, NC
RALEIGH, NC
SAINT LOUIS, MO
SMITHFIELD, NC
SMITHFIELD, NC
BROOKLYN, OH
ALEXANDRIA, VA
JOHNSTON, RI
JOHNSTON, RI
RALEIGH, NC
Showing top 10 of 12 funders.
Key Personnel
From 2023 IRS 990 filing
Pete Rau
Vice President
Karl D Vass Jr
Secretary and Treasurer
Martin L Flournory
IT Development Manager
Dawn S Harris
IT Operations Manager
Richard H Ferneyhough Jr
Web Developer
Marcia Southerland
Vice President
Sumith N Mathur
Sr Solutions Architect
Daniel F Sullivan
Security Officer/Proj Mgr
Laura Morgan
Vice President
Rob Hines
Vice President
Showing 10 of 41 key personnel.
Frequently Asked Questions
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