THE ORGANIZATION IS A PUBLIC-PRIVATE PARTNERSHIP TO ACCELERATE AND SCALE COMMERCIALIZED INNOVATION FROM NC'S UNIVERSITIES, CREATE JOBS, AND IMPROVE ECONOMIC OPPORTUNITIES IN ALL 100 COUNTIES OF NORTH CAROLINA.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$272.9M
+1382.7% YoY
Annual Giving
$2.9M
Grant Count
7
Avg Grant Size
$418K
About NCInnovation Inc
Based on IRS filings
NCInnovation Inc is a nonprofit organization focused on Education, based in RESEARCH TRIANGLE PARK, NC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $272.9M in total assets. In 2024, it awarded 7 grants totaling $2.9M. Net investment income was $5.9M.
Focus Areas
Ready to take the next step with NCInnovation Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $272,938,913 | $18,408,832 | $4,795,472 |
| Revenue | $259,079,795 | $10,283,256 | $1,750,000 |
| Expenses | $8,161,864 | $2,153,367 | $397,780 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $5,899,795 | $62,256 | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
7 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Western Carolina University ($587,412), UNC Wilmington ($550,049), East Carolina University ($442,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Western Carolina University Cullowhee, NC | Mosquito Infectious Disease | $587,412 |
| UNC Wilmington Wilmington, NC | Vaccine Development | $550,049 |
| East Carolina University Greenville, NC | Oncology - Melanoma | $442,000 |
| UNC Greensboro GREENSBORO, NC | Lithium Purification | $404,999 |
| UNC Charlotte Charlotte, NC | Water Purification | $400,971 |
| UNC Charlotte Charlotte, NC | Powergrid Efficiency | $354,607 |
| NC A&T Greensboro, NC | Drug delivery mechanism | $184,512 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| J BENNET WATERS | PRESIDENT & CEO | 40 | $596,950 |
| MICHELLE BOLAS | EVP & CIO | 40 | $337,500 |
| JEFF SURAL THRU 93023 | SVP & CHIEF STRATEGY OFFICER | 40 | $255,170 |
| KELLY KING | CHAIR | 1 | — |
| KIRK BRADLEY | VICE CHAIR | 1 | — |
| J CANTEY ALEXANDER BEGAN 11823 | BOARD MEMBER | 1 | — |
| BETH FRIEDRICH BEGAN 11823 | BOARD MEMBER | 1 | — |
| KELLY FULLER | BOARD MEMBER | 1 | — |
| TODD KASPER BEGAN 11823 | BOARD MEMBER | 1 | — |
| STAN KELLY | BOARD MEMBER | 1 | — |
| BLANNIE MILLER BEGAN 11823 | SECRETARY | 1 | — |
| ART POPE BEGAN 11823 | BOARD MEMBER | 1 | — |
| VEN POOLE | BOARD MEMBER | 1 | — |
| BEN TEAUGUE BEGAN 11823 | BOARD MEMBER | 1 | — |
| JEFF TURNER BEGAN 11823 | BOARD MEMBER | 1 | — |
| JOSH HOWARD BEGAN 03124 | SVP & CHIEF RISK OFFICER | 40 | — |
| LINDA HALL BEGAN 041524 | EVP & CFO | 40 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is NCInnovation Inc?
NCInnovation Inc is a nonprofit organization focused on Education, based in RESEARCH TRIANGLE PARK, NC. It holds $272.9M in total assets as of 2024.
How large is NCInnovation Inc?
As of 2024, NCInnovation Inc holds $272.9M in total assets with $259.1M in annual revenue. It awarded 7 grants totaling $2.9M in 2024.
Where does NCInnovation Inc operate?
NCInnovation Inc has awarded grants in North Carolina.
What size grants does NCInnovation Inc award?
In 2024, NCInnovation Inc awarded 7 grants totaling $2.9M — an average of about $418K per grant, based on its IRS Form 990 filings.
What is NCInnovation Inc's EIN?
NCInnovation Inc's EIN (Employer Identification Number) is 84-4902334. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in NCInnovation Inc'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 April 2026. Sourced from IRS Form 990-PF filings.
What could you do with NCInnovation Inc 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 NCInnovation Inc to a real strategy.