Patriot Foundation
- Assets
- $8.6m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Pinehurst, NC
- Founding
- 06/2004
- Data as of
- 12/2023
- EIN
- 20-0232968
Organization Overview
Patriot Foundation is located in Pinehurst, NC. The organization was established in 2004. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Patriot Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Patriot Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Patriot Foundation generated $10.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 37.9% each year . All expenses for the organization totaled $3.8m during the year ending 12/2023. While expenses have increased by 27.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Patriot Foundation has awarded 100 individual grants totaling $8,083,823. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FUNDRAISING ORGANIZATION PROVIDING SCHOLARSHIP FUNDS FOR THE FAMILIES OF SERVICE MEN AND WOMEN KILLED, WOUNDED, AND INJURED WHILE SERVING OUR NATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DISTRIBUTES PRIVATE FUNDS RAISED TO DOWNSTREAM NON-PROFITS TO PROVIDE SUPPORT FOR THE MILITARY FAMILIES OF ALL BRANCHES OF THE MILITARY, INCLUDING BUT NOT LIMITED TO FORT LIBERTY, NORTH CAROLINA, FORT CAMPBELL, KENTUCKY; SPECIAL OPERATIONS SOLDIERS, AND OTHER SELECTED WARRIORS. THE ORGANIZATION ALSO RECEIVES FEDERAL AND STATE GRANTS, WHICH ARE AWARDED TO APPROXIMATELY 389 STUDENTS THAT MEET CERTAIN REQUIREMENTS DICTATED BY THE LEGISLATURE THROUGH AN IN-HOUSE APPLICATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ferd Irizarry Chairman | OfficerTrustee | 20 | $0 |
Ed Broyhill Director | Trustee | 3 | $0 |
Mike Piscetelli Director | Trustee | 3 | $0 |
Whit Mccrary Director | Trustee | 3 | $0 |
Bailey Vaughan Board Member/treasurer | OfficerTrustee | 3 | $0 |
Chris Morris Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,729,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $649,640 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,378,640 |
| Total Program Service Revenue | $0 |
| Investment income | $62,391 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,441,031 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,397,882 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $94,131 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $71,536 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,581 |
| Office expenses | $406 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $635 |
| Travel | $9,095 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,305 |
| All other expenses | $5,837 |
| Total functional expenses | $3,800,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $652,319 |
| Savings and temporary cash investments | $6,668,007 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,282,918 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,603,244 |
| Accounts payable and accrued expenses | $2,622 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,622 |
| Net assets without donor restrictions | $1,925,765 |
| Net assets with donor restrictions | $6,674,857 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,603,244 |
Grants Awarded
Over the last fiscal year, Patriot Foundation has awarded $2,892,323 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
CAMPBELL UNIVERSITY PURPOSE: SCHOLARSHIP FUNDING | $347,870 |
EAST CAROLINA UNIVERSITY PURPOSE: SCHOLARSHIP FUNDING | $457,300 |
FAYETTEVILLE STATE UNIVERSITY PURPOSE: SCHOLARSHIP FUNDING | $96,428 |
NORTH CAROLINA CENTRAL UNIVERSITY PURPOSE: SCHOLARSHIP FUNDING | $11,500 |
UNIVERSITY OF MOUNT OLIVE PURPOSE: SCHOLARSHIP FUNDING | $18,000 |
UNIVERSITY OF NC AT GREENSBORO PURPOSE: SCHOLARSHIP FUNDING | $169,894 |