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Kenan Flagler Business School Foundation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Single Organization Support (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$44.6M (2023)

Expenses
$36M (2023)

Total Assets
$269M (2023)

Total Liabilities
$8.59M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$44,573,407
Expenses
$35,966,912
Net Income
$8,606,495
Net Assets
$260,039,067
Notable Sources of Revenue Percent of Total Revenue
Contributions $23,630,348
53.0%
Program Services $13,024,000
29.2%
Investment Income $7,659,658
17.2%
Bond Proceeds $0
Royalties $0
Rental Property Income -$1,903
Net Fundraising $0
Sales of Assets -$126,751
Net Inventory Sales $0
Other Revenue $388,055
0.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $268,628,293
Total Liabilities $8,589,226
Net Assets $260,039,067
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Outgoing Chairperson) $0 $467,358 $75,290
Francie Keenan (President) $0 $0 $0
Jana Raedy (Treasurer) $0 $531,219 $62,655
Betsy Battle (Director) $0 $0 $0
Steve Cumbie (Director) $0 $0 $0
Darius L Davis (Director) $0 $0 $0
Shontel Grumhaus (Director) $0 $267,138 $52,633
Brian Hogan (Director) $0 $0 $0
Steve Skolsky (Director) $0 $0 $0
Shawn Munday (Director) $0 $233,140 $44,678
Jennifer Conrad (Director) $0 $606,162 $70,546
Brien White (Director) $0 $0 $0
Tom Cawley (Secretary) $0 $105,734 $37,838

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$44,675,511
Expenses
$23,678,383
Net Income
$20,997,128
Net Assets
$259,646,053
Notable Sources of Revenue Percent of Total Revenue
Contributions $29,344,129
65.7%
Program Services $8,020,000
18.0%
Investment Income $5,964,869
13.4%
Bond Proceeds $0
Royalties $0
Rental Property Income -$3,924
Net Fundraising $0
Sales of Assets $191,393
0.4%
Net Inventory Sales $0
Other Revenue $1,159,044
2.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $259,673,453
Total Liabilities $27,400
Net Assets $259,646,053
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $512,465 $75,419
Brien White (President) $0 $0 $0
Anna Millar (Treasurer) $0 $175,307 $24,021
Betsy Battle (Director) $0 $0 $0
Steve Cumbie (Director) $0 $0 $0
Darius L Davis (Director) $0 $0 $0
Shontel Grumhaus (Director) $0 $231,138 $47,932
Patrick G Hartley (Director) $0 $23,709 $0
Francie Keenan (Director) $0 $0 $0
John Mccoll (Director) $0 $0 $0
Steve Skolsky (Director) $0 $0 $0
Shawn Munday (Director) $0 $273,106 $55,497
Tom Cawley (Secretary) $0 $92,665 $30,448

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$49,598,088
Expenses
$20,628,213
Net Income
$28,969,875
Net Assets
$238,315,966
Notable Sources of Revenue Percent of Total Revenue
Contributions $39,431,671
79.5%
Program Services $4,321,000
8.7%
Investment Income $5,308,421
10.7%
Bond Proceeds $0
Royalties $0
Rental Property Income -$10,542
Net Fundraising $0
Sales of Assets $274,563
0.6%
Net Inventory Sales $0
Other Revenue $272,975
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $238,346,808
Total Liabilities $30,842
Net Assets $238,315,966
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $503,170 $73,954
Brien White (President) $0 $0 $0
Gregory W Brown (Vice President) $0 $490,081 $53,844
David W Stevens (Treasurer) $0 $241,842 $48,884
Betsy Battle (Director) $0 $0 $0
Steve Cumbie (Director) $0 $0 $0
Darius L Davis (Director) $0 $0 $0
Shontel Grumhaus (Director) $0 $231,219 $47,148
Patrick G Hartley (Director) $0 $33,072 $0
David Hofmann (Director) $0 $488,626 $57,326
Francie Keenan (Director) $0 $0 $0
John Mccoll (Director) $0 $0 $0
Brad Staats (Director) $0 $446,494 $58,287
Steve Skolsky (Director) $0 $0 $0
Tom Cawley (Secretary) $0 $92,569 $28,926

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$36,856,586
Expenses
$21,702,630
Net Income
$15,153,956
Net Assets
$169,502,046
Notable Sources of Revenue Percent of Total Revenue
Contributions $26,475,371
71.8%
Program Services $5,027,000
13.6%
Investment Income $5,206,490
14.1%
Bond Proceeds $0
Royalties $0
Rental Property Income -$2,261
Net Fundraising $0
Sales of Assets $8,551
0.0%
Net Inventory Sales $0
Other Revenue $141,435
0.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $169,532,677
Total Liabilities $30,631
Net Assets $169,502,046
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $509,411 $61,478
Brien White (President) $0 $0 $0
Gregory W Brown (Vice President) $0 $501,117 $43,377
David W Stevens (Treasurer) $0 $242,918 $39,695
Betsy Battle (Director) $0 $0 $0
Steve Cumbie (Director) $0 $0 $0
Darius L Davis (Director) $0 $0 $0
Shontel Grumhaus (Director) $0 $228,597 $37,851
Patrick G Hartley (Director) $0 $31,083 $0
David Hofmann (Director) $0 $584,680 $43,338
Francie Keenan (Director) $0 $0 $0
John Mccoll (Director) $0 $0 $0
Brad Staats (Director) $0 $530,290 $43,362
Steve Skolsky (Director) $0 $0 $0
Tom Cawley (Secretary) $0 $93,155 $24,644

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$52,199,636
Expenses
$27,380,310
Net Income
$24,819,326
Net Assets
$158,253,046
Notable Sources of Revenue Percent of Total Revenue
Contributions $38,987,673
74.7%
Program Services $8,132,701
15.6%
Investment Income $5,058,264
9.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $31,328
0.1%
Net Inventory Sales $0
Other Revenue -$10,330
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $158,287,685
Total Liabilities $34,639
Net Assets $158,253,046
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $502,773 $59,667
Brien White (President) $0 $0 $0
Gregory W Brown (Vice President) $0 $475,627 $42,441
David W Stevens (Treasurer) $0 $246,401 $38,688
Betsy Battle (Director) $0 $0 $0
Steve Cumbie (Director) $0 $0 $0
Patrick G Hartley (Director) $0 $32,632 $0
David Hofmann (Director) $0 $563,837 $42,441
Francie Keenan (Director) $0 $0 $0
Adam Mersereau (Director) $0 $342,237 $42,441
John Mccoll (Director) $0 $0 $0
Steve Skolsky (Director) $0 $0 $0
Adam Gerdts (Executive Director) $0 $216,321 $35,875
Tom Cawley (Secretary) $0 $80,368 $20,771

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$35,236,298
Expenses
$24,386,861
Net Income
$10,849,437
Net Assets
$133,604,220
Notable Sources of Revenue Percent of Total Revenue
Contributions $20,309,797
57.6%
Program Services $9,799,055
27.8%
Investment Income $4,506,508
12.8%
Bond Proceeds $0
Royalties $0
Rental Property Income -$32,717
Net Fundraising $0
Sales of Assets $626,940
1.8%
Net Inventory Sales $0
Other Revenue $26,715
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $133,634,538
Total Liabilities $30,318
Net Assets $133,604,220
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $485,751 $57,893
Patrick G Hartley (President (Outgoing)) $0 $27,955 $0
Brien White (President (Incoming)) $0 $0 $0
Gregory W Brown (Vice President) $0 $455,381 $40,954
David W Stevens (Treasurer) $0 $249,472 $37,366
Sridhar Balasubramanian (Director) $0 $644,006 $41,521
Betsy Battle (Director) $0 $0 $0
Steve Cumbie (Director) $0 $0 $0
David Hofmann (Director) $0 $577,920 $41,521
John O'hara Jr (Director) $0 $0 $0
John Mccoll (Director) $0 $0 $0
Steve Skolsky (Director) $0 $0 $0
Adam Gerdts (Executive Director) $0 $205,710 $34,201
Tom Cawley (Secretary) $0 $80,279 $19,327

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$31,385,364
Expenses
$29,448,961
Net Income
$1,936,403
Net Assets
$116,930,685
Notable Sources of Revenue Percent of Total Revenue
Contributions $16,560,196
52.8%
Program Services $9,676,090
30.8%
Investment Income $4,466,002
14.2%
Bond Proceeds $0
Royalties $0
Rental Property Income -$78,874
Net Fundraising $0
Sales of Assets $793,002
2.5%
Net Inventory Sales $0
Other Revenue -$31,052
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $116,959,919
Total Liabilities $29,234
Net Assets $116,930,685
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $470,339 $56,219
Patrick G Hartley (President) $0 $15,000 $0
Gregory W Brown (Vice President) $0 $443,830 $39,553
David W Stevens (Treasurer) $0 $232,399 $35,126
Sridhar Balasubramanian (Director) $0 $598,007 $39,633
Betsy Battle (Director) $0 $0 $0
Steve Cumbie (Director) $0 $0 $0
David Hofmann (Director) $0 $556,863 $39,633
John O'hara Jr (Director) $0 $0 $0
John Mccoll (Director) $0 $0 $0
Steve Skolsky (Director) $0 $0 $0
Steven B Tanger (Director) $0 $0 $0
Brien White (Director) $0 $0 $0
Adam Gerdts (Executive Director) $0 $191,010 $31,111
Tom Cawley (Secretary) $0 $77,798 $17,629

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$25,367,143
Expenses
$18,499,225
Net Income
$6,867,918
Net Assets
$110,567,124
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,851,245
46.7%
Program Services $8,707,227
34.3%
Investment Income $4,291,799
16.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $31,999
0.1%
Net Fundraising $0
Sales of Assets $402,949
1.6%
Net Inventory Sales $0
Other Revenue $81,924
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $141,571,578
Total Liabilities $31,004,454
Net Assets $110,567,124
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $423,728 $55,467
Patrick G Hartley (President) $0 $7,500 $0
Gregory W Brown (Vice President) $0 $354,206 $39,445
David W Stevens (Treasurer) $0 $221,639 $34,229
Sridhar Balasubramanian (Director) $0 $537,658 $39,445
Betsy Battle (Director) $0 $0 $0
Jennifer Conrad (Director) $0 $544,688 $55,467
Steve Cumbie (Director) $0 $0 $0
John O'hara Jr (Director) $0 $0 $0
John Mccoll (Director) $0 $0 $0
Steve Skolsky (Director) $0 $0 $0
Brien White (Director) $0 $0 $0
Adam Gerdts (Executive Director) $0 $158,102 $26,893
Molly Braswell (Secretary) $0 $49,782 $11,595

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$33,237,487
Expenses
$21,469,093
Net Income
$11,768,394
Net Assets
$109,667,206
Notable Sources of Revenue Percent of Total Revenue
Contributions $14,928,757
44.9%
Program Services $14,184,656
42.7%
Investment Income $4,095,570
12.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $1,492
0.0%
Net Inventory Sales $0
Other Revenue $27,012
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $133,132,310
Total Liabilities $23,465,104
Net Assets $109,667,206
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $418,810 $54,427
Patrick G Hartley (President) $0 $0 $0
Gregory W Brown (Vice President) $0 $313,718 $38,502
David W Stevens (Treasurer) $0 $210,342 $31,924
Sridhar Balasubramanian (Director) $0 $411,691 $33,572
Betsy Battle (Director) $0 $0 $0
Jennifer Conrad (Director) $0 $504,952 $54,427
Steve Cumbie (Director) $0 $0 $0
John O'hara Jr (Director) $0 $0 $0
John Mccoll (Director) $0 $0 $0
Steve Skolsky (Director) $0 $0 $0
Brien White (Director) $0 $0 $0
Molly Braswell (Secretary) $0 $36,694 $9,702
Adam Gerdts (Executive Director) $0 $142,820 $23,987
Brad Shafer (Former Executive Director) $0 $128,299 $17,846

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$23,804,456
Expenses
$30,395,067
Net Income
-$6,590,611
Net Assets
$95,375,858
Notable Sources of Revenue Percent of Total Revenue
Contributions $8,472,623
35.6%
Program Services $10,908,924
45.8%
Investment Income $4,047,809
17.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $367,207
1.5%
Net Inventory Sales $0
Other Revenue $7,893
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $102,267,285
Total Liabilities $6,891,427
Net Assets $95,375,858
Compensation
Key Employees and Officers Compensation Related Other
Douglas A Shackelford (Chairperson) $0 $0 $0
Patrick G Hartley (President) $0 $7,500 $0
Gregory W Brown (Vice President) $0 $297,630 $22,649
David W Stevens (Treasurer) $0 $197,870 $18,844
Kathy Dennis (Secretary) $0 $47,426 $11,858
Sridhar Balasubramanian (Director) $0 $363,878 $22,649
Jennifer Conrad (Director) $0 $497,668 $31,199
Mark Corigliano (Director) $0 $0 $0
James Mason Jr (Director) $0 $0 $0
John O'hara Jr (Director) $0 $0 $0
Brien White (Director) $0 $0 $0
Brad Shafer (Executive Director) $0 $195,357 $19,650
James W Dean (Former Chairperson) $0 $413,548 $22,649

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$37,845,730
Expenses
$34,097,511
Net Income
$3,748,219
Net Assets
$95,492,510
Notable Sources of Revenue Percent of Total Revenue
Contributions $10,619,295
28.1%
Program Services $23,608,070
62.4%
Investment Income $3,786,631
10.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$217,039
Net Inventory Sales $0
Other Revenue $48,773
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $96,095,626
Total Liabilities $603,116
Net Assets $95,492,510

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$34,778,801
Expenses
$34,159,053
Net Income
$619,748
Net Assets
$87,296,861
Notable Sources of Revenue Percent of Total Revenue
Contributions $7,212,715
20.7%
Program Services $23,788,490
68.4%
Investment Income $3,833,819
11.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$100,720
Net Inventory Sales $0
Other Revenue $44,497
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $87,334,113
Total Liabilities $37,252
Net Assets $87,296,861

Document Links

Fiscal Year Ending June
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$33,205,826
Expenses
$37,752,681
Net Income
-$4,546,855
Net Assets
$89,623,329
Notable Sources of Revenue Percent of Total Revenue
Contributions $7,566,996
22.8%
Program Services $21,825,486
65.7%
Investment Income $3,554,818
10.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $158,717
0.5%
Net Inventory Sales $0
Other Revenue $99,809
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $89,662,930
Total Liabilities $39,601
Net Assets $89,623,329

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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