NC IDEA is an independent private foundation based in Durham, North Carolina, committed to supporting entrepreneurial ambition and economic empowerment. Founded in 2006, the organization operates as a catalyst for innovation and business growth, helping entrepreneurs reach their full potential through competitive grants and strategic partnerships. The foundation converted from a 501(c)(3) supporting organization to a private foundation to further its mission of boosting North Carolina's entrepreneurial ecosystem.
Key facts about NC Idea
- EIN
- 01-0702442
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $2,569,331
- Grants made (2025)
- 190
- Average grant
- $13,523
- Median grant
- $7,500
- New grantees (estimate)
- 62% first-time grantees (109 of 177, 2025)
- Primary geography
- North Carolina (98% of itemized 2025 grant dollars)
- How to apply
- Applications are accepted on a cyclical basis with specific deadlines. Full details ↓
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who NC Idea funds
By grant dollars, the top recipient states for NC Idea's 190 itemized 2025 grants were North Carolina (98%). The most frequent recipient cities were Durham, NC (26 grants), Charlotte, NC (24 grants), Raleigh, NC (23 grants) and Winstonsalem, NC (11 grants). None of its 190 grants with a stated purpose were described as general or operating support. Recurring purposes include "Engage Grants" (58 grants), "Micro Grants" (45 grants) and "Ecosystem Grants" (35 grants).
Is NC Idea open to new grantees?
62%
first-time grantees, 2025
In 2025, 109 of 177 grantees (62%) were first-time recipients. First grants averaged $12K; repeat grants $18K. How we count
Medians: $8K first-time, $12K repeat.
Estimate from itemized IRS Form 990-PF grant lists (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with NC Idea
- How to evaluate NC Idea as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
- Draft an LOI to NC Idea with AI
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$2.6M
+56.8% YoY
Grant Count
190
+10.5% YoY
Avg Grant Size
$14K
+41.9% YoY
Mission & Focus Areas
NC IDEA's mission is to empower entrepreneurs to reach their full potential by providing grants and other resources to foster innovation and business growth. The foundation believes entrepreneurs transform communities and views its work as a catalyst for positive change.
The foundation focuses on supporting:
- Early-stage technology companies
- Innovative startups between proof of concept and first institutional funding
- Entrepreneurial business innovation
- Economic advancement and development
Grantmaking
Grant Range
of approximately $3.5 million
Average Grant
of approximately $3.5 million
Review Cycle
- Information sessions are held throughout the state prior to application periods
How to Apply
**
Ready to take the next step with NC Idea?
Geographic Focus
Where this funder awards grants
NC IDEA primarily funds within North Carolina but extends support to other states including Oregon, Florida, Virginia, West Virginia, Illinois, and others. The foundation has funded projects in numerous North Carolina cities including Durham, Raleigh, Charlotte, Asheville, Winston-Salem, and Wilmington. Grantmaking reaches organizations across 11 states, with North Carolina, West Virginia, and Illinois accounting for 97% of all grants.
Grant Distribution by State
Share of all 190 itemized 2025 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
- Total Assets: $52.9 million (as of most recent filing)
- Annual Grants Awarded: $3.5 million (2024)
- Total Revenue: Approximately $3.1 million
- Annual Expenses: Approximately $6.3 million
- Expense Ratio: 203.3% of total revenue spent on programs
- Asset Growth: +2.6% from previous year
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS January 3, 2020)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS March 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS March 18, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS March 12, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 15, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 7, 2026)
- IRS filings on file for fiscal years 2021–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
904 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include First Flight Venture Center ($73,860 across 2 grants), Ab Community ($71,667 across 2 grants), Black Girl Magic Market ($65,000).
| Recipient | Purpose | Amount |
|---|---|---|
| BLACK GIRL MAGIC MARKET Angier, NC | ECOSYSTEM GRANTS | $65,000 |
| FIRST FLIGHT VENTURE CENTER Research Triangle Park, NC | ECOSYSTEM GRANTS | $63,360 |
| FORWARD CITIES Durham, NC | ECOSYSTEM GRANTS | $60,000 |
| AB COMMUNITY Durham, NC | ECOSYSTEM GRANTS | $51,667 |
| MATCHA NUDE Arden, NC | SEED GRANTS | $50,000 |
| WHEELPRICE Charlotte, NC | SEED GRANTS | $50,000 |
| ATLANTIC FISH CO Raleigh, NC | SEED GRANTS | $45,000 |
| HOPPY PLANET FOODS Charlotte, NC | SEED GRANTS | $45,000 |
| PROSPERA Charlotte, NC | ECOSYSTEM GRANTS | $45,000 |
| SUNLIGHT Cary, NC | SEED GRANTS | $45,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Thom Ruhe: President and Chief Executive Officer
- Ben Redding: Chief Financial Officer
- Amy Bastian: Vice President, Grants and Programs
- Sarah Mixter: Director, Ecosystem Engagement
- Andrea Cook: Director
- Luke Walling: Board Director
- Heather McWhorter: Board Member
- Krista Covey: Board Member
The foundation is governed by 11 officers and trustees and employs 31 people.
Compensation Overview
From 2025 IRS filing
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Thomas R Ruhe | CEO | 40 | $410,265 |
| Heather McWhorter | Board Member | 0.5 | — |
| David Morris | Board Member | 0.5 | — |
| Tom Snyder | Board Member | 0.5 | — |
| Spencer Disher | Board Chair | 0.5 | — |
| Sonja Ebron | Board Member | 0.5 | — |
| Jerry Edmonds III | Board Member | 0.5 | — |
| Jose Alvarez | Board Member | 0.5 | — |
| Krista Covey | Board Member | 0.5 | — |
| Keith Luedeman | Board Member | 0.5 | — |
Recent News & Activity
Recent developments and announcements
NC IDEA continues to conduct regular grant cycles with multiple application periods throughout the year. The foundation holds information sessions across the state to help potential applicants understand program requirements and develop competitive applications. Recent grant cycles have included the Spring 2026 and Fall 2025 Seed Grant cycles, with semi-finalists selected from across North Carolina. The foundation maintains active engagement with the entrepreneurial ecosystem through outreach activities and technology commercialization support.
NC IDEA Selects 21 Semi-Finalists from Across the State in Spring 2026 SEED\Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does NC Idea fund?
NC IDEA's mission is to empower entrepreneurs to reach their full potential by providing grants and other resources to foster innovation and business growth. The foundation believes entrepreneurs transform communities and views its work as a catalyst for positive change. The foundation focuses on supporting: • Early-stage technology companies • Innovative startups between proof of concept and first institutional funding • Entrepreneurial business innovation • Economic advancement and development
How do I apply for a grant from NC Idea?
Applications are accepted on a cyclical basis with specific deadlines. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does NC Idea make grants?
NC IDEA primarily funds within North Carolina but extends support to other states including Oregon, Florida, Virginia, West Virginia, Illinois, and others. The foundation has funded projects in numerous North Carolina cities including Durham, Raleigh, Charlotte, Asheville, Winston-Salem, and Wilmington. Grantmaking reaches organizations across 11 states, with North Carolina, West Virginia, and Illinois accounting for 97% of all grants.
What size grants does NC Idea award?
In 2025, NC Idea awarded 190 grants totaling $2.6M — an average of about $14K per grant, based on its IRS Form 990 filings.
What is NC Idea's EIN?
NC Idea's EIN (Employer Identification Number) is 01-0702442. IRS Form 990 filing data is available on this page for 2019–2025.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.