Nonprofit · EIN 93-3423161
PAY IT FORWARD FUND LLC
Also known as MEAGHAN DENNISON SOLE MBR
Tax-exempt · WILMINGTON, NC 28406
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,217,630 | $653,756 | $563,874 | $5,184,731 | $2,404,717 | $2,780,014 |
| June 30, 2024 | 990 | $2,426,271 | $148,863 | $2,277,408 | $2,287,338 | $9,930 | $2,277,408 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,055,838
- Program service revenue
- $19,500
- Investment income
- $142,273
- Other revenue
- $19
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $131,545
- Other salaries and wages
- $147,314
- Salaries, compensation and benefits (total)
- $314,674
- Professional fundraising fees
- $0
- Legal fees
- $8,690
- Accounting fees
- $18,311
- Occupancy
- $21,951
- Travel
- $4,859
- Program services (functional)
- $437,661
- Management and general (functional)
- $170,353
- Fundraising (functional)
- $45,742
Balance sheet and other
- Total assets, start of year
- $2,287,338
- Total assets, end of year
- $5,184,731
- Total liabilities, end of year
- $2,404,717
- Net assets, end of year
- $2,780,014
- Publicly traded securities
- $71,645
- Net assets without donor restrictions
- $2,682,508
- Net assets with donor restrictions
- $97,506
- Gross receipts
- $1,217,630
- Employees
- 3
- Volunteers
- 6
- Year formed
- 2023
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MEAGHAN DENNISON | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 40 | $55,835 | $7,669 |
| KATE GROAT | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| LYNN MOODY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LOUISE HICKS | VICE-CHAIR & TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| GREG GOLDENBERG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID HOWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREA JOHNSTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MEAGHAN DENNISON | CHIEF EXEUCTIVE OFFICER Trustee or director, Officer | 40 | $0 | $104,390 | $11,392 |
| KATE GROAT | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GREGG GOLDENBERG | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ANDREA JOHNSTON | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOHN GILLESPIE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 3554, WILMINGTON, NC 28406-0554
- Principal officer (990 for 2024)
- MEAGHAN DENNISON, 717 MARKET STREET, WILMINGTON, NC 28401
- Signed the 990
- MEAGHAN DENNISON, CHEIF EXECUTIVE OFFICER
- Phone
- (919) 607-2417
- Website
- HTTPS://THEFORWARD.FUND/
- Return prepared by
- AMANDA LUKE CPA PLLC
Mission
THE FORWARD FUND IS NORTH CAROLINA'S FIRST PAY-IT-FORWARD WORKFORCE FINANCING MODEL, EXPANDING ACCESS TO SHORT-TERM, HIGH-IMPACT CREDENTIALED TRAINING PROGRAMS THAT LEAD DIRECTLY TO CAREERS IN HIGH-WAGE SECTORS. THROUGH ZERO-INTEREST, OUTCOMES-BASED LOANS ALIGNED WITH WORKFORCE NEEDS, TFF IS STRENGTHENING NORTH CAROLINA'S WORKFORCE AND FUELING SUSTAINABLE ECONOMIC GROWTH.
Program accomplishments
- THE FORWARD FUND IS NORTH CAROLINA'S FIRST PAY-IT-FORWARD FUNDING MODEL. IT INVESTS IN STUDENTS TO ENROLL, GRADUATE, AND ATTAIN HIGH-WAGE EMPLOYMENT THROUGH TAILORED FINANCIAL SUPPORT WHILE ENSURING LOCAL EMPLOYERS FIND THE SKILLED TALENT THEY NEED.Expenses $437,661 · revenue $19,500
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 93-3423161
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2025
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $5,184,731
- Income (IRS master file)
- $1,217,630
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,217,630 | $653,756 | $5,184,731 | IRS |
| 990 | June 2024 | $2,426,271 | $148,863 | $2,287,338 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 93-3423161).
Questions about PAY IT FORWARD FUND LLC
- What is the EIN of PAY IT FORWARD FUND LLC?
- The employer identification number (EIN) of PAY IT FORWARD FUND LLC is 93-3423161.
- Is PAY IT FORWARD FUND LLC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2025.
- Are donations to PAY IT FORWARD FUND LLC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PAY IT FORWARD FUND LLC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PAY IT FORWARD FUND LLC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PAY IT FORWARD FUND LLC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of PAY IT FORWARD FUND LLC?
- The 990 for the year ended June 30, 2025 names MEAGHAN DENNISON.
- Who are the officers and directors of PAY IT FORWARD FUND LLC?
- The 990 for the year ended June 30, 2025 lists 7 people; 1 received compensation from the organization, the highest $55,835 (MEAGHAN DENNISON, CHIEF EXECUTIVE OFFICER).
- How much revenue does PAY IT FORWARD FUND LLC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,217,630, expenses of $653,756 and total assets of $5,184,731 at year end.
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