Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 10-01-2024 , and ending 09-30-2025
Name of foundation
STATE EMPLOYEES ASSOCIATION OF NC
SCHOLARSHIP FUND INC
Number and street (or P.O. box number if mail is not delivered to street address)1621 MIDTOWN PLACE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
RALEIGH, NC27609
A Employer identification number

56-1436745
B Telephone number (see instructions)

(919) 833-6436
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$681,530J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 110,146
2 Check right arrow.............
3 Interest on savings and temporary cash investments 791 791  
4 Dividends and interest from securities... 10,902 10,902  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 21,071
b Gross sales price for all assets on line 6a 37,725
7 Capital gain net income (from Part IV, line 2)... 21,071
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
45,043 0  
12 Total. Add lines 1 through 11........ 187,953 32,764  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
12,585 0   12,585
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
383 187   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
18,728 0   18,728
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 31,696 187   31,313
25 Contributions, gifts, grants paid....... 40,500 40,500
26 Total expenses and disbursements. Add lines 24 and 25 72,196 187   71,813
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 115,757
b Net investment income (if negative, enter -0-) 32,577
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 65,875 177,915 177,915
3 Accounts receivable right arrow1,450
Less: allowance for doubtful accounts right arrow     1,450 1,450
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 476,568 Click to see attachment
List of Attached Documents:
// Content
502,165 		502,165
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 15,074 0 0
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 557,517 681,530 681,530
Liabilities 17 Accounts payable and accrued expenses.......... 5,455 3,696
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
401 		Click to see attachment
List of Attached Documents:
// Content
0
23 Total liabilities (add lines 17 through 22)......... 5,856 3,696
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 551,661 677,834
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 551,661 677,834
30 Total liabilities and net assets/fund balances (see instructions). 557,517 681,530
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
551,661
2
Enter amount from Part I, line 27a .....................
2
115,757
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
17,970
4
Add lines 1, 2, and 3 ..........................
4
685,388
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
7,554
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
677,834
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 23,803   16,654 7,149
b 13,922     13,922
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       7,149
b       13,922
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 21,071
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 453
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 453
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 453
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 453
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowNC
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowHTTPS://WWW.SEANC.ORG/ABOUT-SCHOLARSHIP
14
The books are in care ofright arrowBRENDA WILLIAMS-BROWN Telephone no.right arrow (919) 833-6436

Located atright arrow1621 MIDTOWN PLACERALEIGHNC ZIP+4right arrow27609
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
Yes
 
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
NICOLE HUNTER CHAIRPERSON
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
VERNA WADE VICE CHAIRPERSON
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
CHEVELLA L THOMAS TREASURER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
CYNTHIA S CRAWFORD SECRETARY
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
MICHAEL BELL BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
DEBRA DUNSTON BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
DEBORAH FLEMING BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
ELAINE HALL BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
AUDRA HOLSAPPLE BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
SONYA JORDAN NOBLES BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
ARCHIE LASSITER BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
KIMBERLY MARTIN BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
ELLEN MOSS BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
ONIE WHITLEY BOARD MEMBER
1.00 		0 0 0
1621 MIDTOWN PLACE
RALEIGH,NC27609
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 SCHOLARSHIPS FOR QUALIFIED FAMILY MEMBERS OF MEMBERS OF THE STATE EMPLOYEES ASSOCIATION OF NORTH CAROLINA, INC.42 SCHOLARSHIPS AWARDED. 40,500
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
477,310
b
Average of monthly cash balances.......................
1b
66,659
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
543,969
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
543,969
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
8,160
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
535,809
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
26,790
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
26,790
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
453
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
453
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
26,337
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
26,337
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
26,337
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
71,813
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
71,813
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 26,337
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 26,146
b From 2020...... 16,326
c From 2021...... 16,727
d From 2022...... 18,658
e From 2023...... 24,702
f Total of lines 3a through e ........ 102,559
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 71,813
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 26,337
e Remaining amount distributed out of corpus 45,476
5 Excess distributions carryover applied to 2024. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 148,035
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		26,146
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		121,889
10 Analysis of line 9:
a Excess from 2020.... 16,326
b Excess from 2021.... 16,727
c Excess from 2022.... 18,658
d Excess from 2023.... 24,702
e Excess from 2024.... 45,476
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
STATE EMPLOYEES ASSOCIATION OF NC S
1621 MIDTOWN PLACE
RALEIGH,NC27609
(919) 833-6496
bThe form in which applications should be submitted and information and materials they should include:
WRITTEN APPLICATION
cAny submission deadlines:
NOT APPLICABLE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
ONLY SPOUSES AND DEPENDENT CHILDREN OF SEANC MEMBERS ARE ELIGIBLE.
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year
ROBERT LAURIE


59 BOBCAT PATH
MARION,NC28752 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
SHA'KIYIA HIGHSMITH


1987 NC 97 W
BATTLEBORO,NC27809 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
RICHARD CRUZ-TORRES


423 GUS ROAD
DURHAM,NC27703 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
E'ZURI REID


233 SOUTH KING STREET
HALIFAX,NC27839 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
JOSH HONAKER


4900 LIGHTHOUSE COURT
WINSTON SALEM,NC27127 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
CHLOE NELSON


108 WYNDFALL LANE
CLAYTON,NC27527 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
AALIYAH FARRINGTON


262 SPRINGSIDE ROAD
RED SPRINGS,NC28377 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
LESLIE WEAVER


708 CORBETT HILL ROAD
MOUNT OLIVE,NC28365 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
VALVJA WALLACE


502 EAST NELSON STREET
MOUNT OLIVE,NC28365 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
ZOIE CARSWELL


6136 MILLER BRIDGE ROAD
CONNELLY SPRINGS,NC28612 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
SHAMIYA CARLTON


113 WILLOW RUN LANE APT F
FAYETTEVILLE,NC28311 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
AMIRA LUNSFORD


409 FERNWAY DRIVE
BURLINGTON,NC27217 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
SHEYLA HERNANDEZ


513 EAST MEETING STREET
MORGANTON,NC28655 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
ASHLEY HUGHES


6006 LADISH LANE
RALEIGH,NC27610 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
KOLBY KIKER


16046 LIBERTY HILL CHURCH ROAD
OAKBORO,NC28129 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,300
EMILY CHILDS


2351 CHINQUAPIN ROAD
NEW BERN,NC28562 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
TAYLOR LEE


100 BIRCHWOOD DRIVE
MOUNT OLIVE,NC28365 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
ANDREW TILGHMAN


3269 GRIFTON HUGO ROAD
GRIFTON,NC28530 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
NATALIE THOMPSON


1011 BARBER ROAD
RUTHERFORDTON,NC28139 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
RACHEL KIM


1003 WOLFS BANE DRIVE
APEX,NC27539 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
KETURAH LYNCH


5207 GRAYS RIDGE DRIVE
CHARLOTTE,NC28269 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
ABIGAIL SHAEFFER


2591 QUEEN ANNE COURT
FRANKLINTON,NC27525 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
KINSLEY LOR


1751 KNOLLWOOD CIRCLE
MORGANTON,NC28655 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
ALANA ALSTON


307 MAYFLOWER CIRCLE
SANDORD,NC27330 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
TANNER DAWSON


2584 SOUTHWOOD ROAD
KINSTON,NC28501 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
GENEVIEVE WAUGH


436 GRAND BLVD
BOONE,NC28607 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
ETHAN HARRELL


3985 WOMBLE ROAD
NASHVILLE,NC27856 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
KIERSTEN BURDEN


769 FRATERNITY ROW
KANNAPOLIS,NC28081 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
BENJAMIN TRAYLOR


653 GEORGETOWN CIRCLE
FAYETTEVILLE,NC28314 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
MADISON CHURCH


420 DOGWOOD DRIVE
HICKORY,NC28601 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 1,000
SHAREMA WILLIAMS


216 SWEETBAY TREE DRIVE
WENDELL,NC27591 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
CRYSTAL ARTIS


554 WEST NEW HOPE ROAD APT A6
GOLDSBORO,NC27534 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
RAMONA RICHMOND


1311 PERGA COURT
GREENSBORO,NC27404 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
SHALONZA ATKINS


512 FARMVIEW DRIVE
FAYETTEVILLE,NC28311 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
LINDLEY DAVIS


444 OLD REECE ROAD
BANNER ELK,NC28604 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
NATASHA WORTHINGTON


2008-B SUMMERHAVEN DRIVE
GREENSBORO,NC27858 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
CRYSTAL AKERS


960 COPE CREEK ROAD
SYLVA,NC28779 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
NORENA GRIFFIN


5312 DUNROBIN COURT
RALEIGH,NC27610 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
JAMETA EDWARDS


2305 RHINESTONE DRIVE
WINTERVILLE,NC28590 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
LEWIS STROTHER JR


8620 MALAHAR LANE
ANGIER,NC27501 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
WANDA SHELTON


1198 BUMGARNER HILL ROAD
MORGANTON,NC28655 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
RASHIA NORMAN


POST OFFICE BOX 153
OLIVIA,NC28368 		NONE I SCHOLARSHIP FOR EDUCATIONAL PURPOSES 500
Total .................................right arrow 3a 40,500
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 791  
4 Dividends and interest from securities ....     14 10,902  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 21,071  
9 Net income or (loss) from special events:         33,210
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 32,764 33,210
13Total. Add line 12, columns (b), (d), and (e)..................
13
65,974
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
9 THE SALE OF RAFFLE TICKETS GENERATE INCOME TO PROVIDE SCHOLARSHIPS WHICH IS THE TAX-EXEMPT FUNCTION OF THE ORGANIZATION.
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
STATE EMPLOYEES ASSN 501 (C) (5) PROVIDE SCHOLARSHIPS TO MEMBER
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
STATE EMPLOYEES ASSOCIATION OF NC
SCHOLARSHIP FUND INC
Employer identification number

56-1436745
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
STATE EMPLOYEES ASSOCIATION OF NC
SCHOLARSHIP FUND INC 		Employer identification number
56-1436745
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
PAULA SCHUBERT
3101 DOUBLEDAY PLACE
 
DURHAM, NC27705

$ 100,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
STATE EMPLOYEES ASSOCIATION OF NC
SCHOLARSHIP FUND INC 		Employer identification number

56-1436745
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
STATE EMPLOYEES ASSOCIATION OF NC
SCHOLARSHIP FUND INC 		Employer identification number

56-1436745
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 12,585 0   12,585

TY 2024 InvestmentsCorpStockSchedule
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Name of Stock End of Year Book Value End of Year Fair Market Value
AMERICAN WASHINGTON MUTUAL INVESTORS CL A 21,944 21,944
AMERICAN NEW PERSPECTIVE CL A 38,676 38,676
AMERICAN INTERMEDIATE BOND FUND OF AMERICA CL A 40,640 40,640
AMERICAN INCOME FUND OF AMERICA CL A 51,175 51,175
AMERICAN CAPITAL WORLD GROWTH & INCOME CL A 29,013 29,013
AMERICAN BOND FUND OF AMERICA CL A 30,014 30,014
AMERICAN MUTUAL CL A 30,085 30,085
AMERICAN AMCAP CL A 35,466 35,466
HARTFORD TOTAL RETURN BOND CL A 47,221 47,221
HARTFORD EQUITY INCOME CL A 27,776 27,776
HARTFORD INTERNATIONAL VALUE CL A 39,360 39,360
AMERICAN DEVELOPING WORLD GROWTH & INCOME CL A 11,515 11,515
HARTFORD GROWTH OPPORTUNITIES CL A 40,506 40,506
HARTFORD MIDCAP VALUE CL A 15,936 15,936
HARTFORD MIDCAP CL A 12,060 12,060
HARTFORD WORLD BOND CL A 19,412 19,412
AMERICAN SMALLCAP WORLD CL A 11,366 11,366

TY 2024 OtherDecreasesSchedule
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Description Amount
PRIOR YEAR ADJUSTMENT 7,554


TY 2024 OtherExpensesSchedule
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SUBSCRIPTIONS & REFERENCE MATE 5,000 0   5,000
SCHOLARSHIP FUNDRAISING EXPENSES 11,833 0   11,833
INSURANCE 1,000 0   1,000
SUBSISTENCE 895 0   895


TY 2024 OtherIncomeSchedule2
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
GROSS INCOME FROM SPECIAL FUNDRAISING EVENTS 45,043   45,043


TY 2024 OtherIncreasesSchedule
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Description Amount
UNREALIZED GAIN 17,970


TY 2024 OtherLiabilitiesSchedule
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Description Beginning of Year - Book Value End of Year - Book Value
FEDERAL INCOME TAX PAYABLE -5,347 0
DUE TO OTHER FUNDS 4,720 0
TO/FROM INSURANCE AND GENERAL 1,028 0


TY 2024 TaxesSchedule
Name:
STATE EMPLOYEES ASSOCIATION OF NC
 
SCHOLARSHIP FUND INC
EIN:
56-1436745
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 196 0   0
FOREIGN TAX 187 187   0