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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$51.5M
-2.6% YoY
Annual Giving
$1.6M
-52.9% YoY
Grant Count
172
+2.4% YoY
Avg Grant Size
$10K
-54.0% YoY
Under IRS private-foundation payout rules, Nc Idea reported a distributable amount of $2.4M for 2024 — the minimum it must pay out in qualifying distributions.
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
NC IDEA operates multiple grant programs designed to support startups at different stages:
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
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 | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $51,479,301 | $52,864,812 | $59,546,476 |
| Revenue | $2,335,957 | $3,122,027 | $6,221,014 |
| Expenses | $4,460,236 | $6,348,635 | $5,590,363 |
| Qualifying Distributions | $4,142,643 | $5,864,660 | $5,395,654 |
| Net Investment Income | $2,016,901 | $2,837,992 | $4,809,371 |
| Distributable Amount | $2,436,462 | $2,631,711 | $2,946,029 |
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 2024
Grant Size Distribution
200 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Dei Directive Inc ($45,000), Dnali Data Technologies Inc ($44,750), Forward Cities ($40,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AJON'S PROFESSIONAL SOLUTIONS ROCKY MOUNT, NC | ENGAGE GRANTS | $5,000 |
| ADAM CANOSA HILLSBOROUGH, NC | MICRO GRANTS | $2,500 |
| ALLERGOOD LLC CHAPEL HILL, NC | MICRO GRANTS | $10,000 |
| ARCLET LLC ASHEVILLE, NC | MICRO GRANTS | $7,500 |
| ARTIFICIALLY DIGITAL LLC CARY, NC | MICRO GRANTS | $7,500 |
| B COMBS LLC CARY, NC | SEED GRANTS | $30,000 |
| SPANDO TECHNOLOGY SOLUTIONS INC HOLLY SPRINGS, NC | MICRO GRANTS | $2,500 |
| THE BENJAMIN AND EDITH SPAULDING DESCENDANTS FOUNDATION INC DURHAM, NC | MINDSET GRANTS | $1,800 |
| BLOCKCHAIN POWER LLC RESEARCH TRIANGLE PARK, NC | MICRO GRANTS | $7,500 |
| BLUE RIDGE COMMUNITY COLLEGE FLAT ROCK, NC | MINDSET GRANTS | $240 |
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 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| THOMAS R RUHE | CEO | 40 | $458,516 |
| LINDA HALL | TREASURER | 0.5 | — |
| LUKE WALLING | DIRECTOR | 0.5 | — |
| STELFANIE WILLIAMS | SECRETARY | 0.5 | — |
| SPENCER DISHER | DIRECTOR | 0.5 | — |
| SONJA EBRON | DIRECTOR | 0.5 | — |
| JERRY EDMONDS III | BOARD CHAIR | 0.5 | — |
| JOSE ALVAREZ | DIRECTOR | 0.5 | — |
| KRISTA COVEY | DIRECTOR | 0.5 | — |
| KEITH LUEDEMAN | DIRECTOR | 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?
NC IDEA operates multiple grant programs designed to support startups at different stages: **NC IDEA MICRO** • Awards $10,000 in project-based funding • Targets startups actively validating assumptions and developing business models • Pairs funding with mentorship and guidance **NC IDEA Seed Grant Program** • Provides grants of up to $50,000 • Supports innovative startups between proof of concept and first institutional funding • Funds business activities that validate potential markets, reduce…
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 2024, Nc Idea awarded 172 grants totaling $1.6M — an average of about $10K per grant, based on its IRS Form 990 filings.
How much is Nc Idea required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Nc Idea reported a distributable amount of $2.4M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2021–2024.
Explore Open Grants
Browse active grant opportunities in Nc Idea's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
The Hillbrook Gkp Iii Foundation Inc
GREENSBORO, NC
Assets
$32K
Grants
1
Total Given
$2K
Rotary Club of Salisbury Charities
SALISBURY, NC
Assets
$39K
Grants
1
Total Given
$50K
Ihope Foundation
GREENSBORO, NC
Assets
$10K
Grants
1
Total Given
$20K
Flow Foundation Inc
WINSTONSALEM, NC
Assets
$395K
Grants
53
Total Given
$1.5M
Orange County Partnership for Young
HILLSBOROUGH, NC
Assets
$477K
Grants
18
Total Given
$2.1M
North Carolina Baptist Hospital
WINSTONSALEM, NC
Assets
$2.8B
Grants
17
Total Given
$634K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Nc Idea on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching Nc Idea to a real strategy.