Charlotte Hornets Foundation Inc
- Assets
- $948.6k
- Revenue
- $174.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 05/2005
- Data as of
- 09/2021
- EIN
- 20-0946449
Organization Overview
Charlotte Hornets Foundation Inc is located in Charlotte, NC. The organization was established in 2005. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlotte Hornets Foundation Inc 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 09/2021, Charlotte Hornets Foundation Inc generated $174.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.9%) each year. All expenses for the organization totaled $214.8k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (14.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Charlotte Hornets Foundation Inc has awarded 54 individual grants totaling $1,605,998. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SUPPORTS THE ENRICHMENT OF THOSE IN NEED, ESPECIALLY (CONTINUED IN SCH O) CHILDREN, IN THE CHARLOTTE AREA THROUGH COMMUNITY OUTREACH AND SUPPORTING OTHER ORGS WITH SIMILAR GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERALLY, THE FOUNDATION USED ITS RELATIONSHIP WITH THE PLAYERS, COACHES, AND MANAGEMENT OF THE CHARLOTTE HORNETS NBA TEAM AS A PLATFORM TO RAISE AWARENESS ABOUT THE IMPORTANCE OF EDUCATION, HEALTH AND FITNESS, MILITARY CARE AND HUNGER.GRANT MAKINGGRANT MAKING WAS THE FOUNDATION'S WAY OF DEMONSTRATING AND DISPLAYING THE FOUNDATION'S COMMITMENT TO THE PRIORITIES OF THE ORGANIZATION AND COMMUNITY IT SERVES. THE FOUNDATION USES ITS COMMUNITY CONTACTS TO IDENTIFY PROGRAMS THAT HAVE THE LARGEST IMPACT TO THE FOUNDATION'S MISSION. GRANTS TO THE MECKLENBURG FOOD AND POLICY COUNCIL, PURPLE HEART HOMES, CHARMECK LITTLE LIBRARIES, AND OUT TEACH HELPED US ACHIEVE OUR GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Jordan Director, Chairman | OfficerTrustee | 1 | $0 |
James Jordan Director, President | OfficerTrustee | 1 | $0 |
Tamara Daniels Director, Secretary (as Of 06/2021) | OfficerTrustee | 1 | $0 |
Joe Pierce Director, Secretary (thru 12/2020) | OfficerTrustee | 1 | $0 |
Fred Whitfield Director, Vice Chairman | OfficerTrustee | 1 | $0 |
Betsy Mack Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $170,905 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,905 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,165 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,079 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $206,405 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,916 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $2,460 |
| Total functional expenses | $214,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $907,505 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,000 |
| 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 | $31,103 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $948,608 |
| Accounts payable and accrued expenses | $84,484 |
| Grants payable | $0 |
| Deferred revenue | $395,500 |
| 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 | $479,984 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $468,624 |
| Total liabilities and net assets/fund balances | $948,608 |
Grants Awarded
Over the last fiscal year, Charlotte Hornets Foundation Inc has awarded $137,074 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Charlotte, NC PURPOSE: VETERANS | $26,574 |
Charlotte, NC PURPOSE: HOMELESSNESS | $25,000 |
Winston Salem, NC PURPOSE: WELLNESS | $25,000 |
Charlotte, NC PURPOSE: FIGHT HUNGER & DEVELOP EMPLOYMENT | $25,000 |
Charlotte, NC PURPOSE: ECONOMIC MOBILITY | $10,000 |
Charlotte, NC PURPOSE: SCHOLARSHIP | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Charlotte Hornets Foundation Inc has recieved totaling $61,029.
| Awarding Organization | Amount |
|---|---|
Acn Global Reach Charities Inc Concord, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Hendrick Family Foundation Charlotte, NC PURPOSE: PROGRAM SUPPORT | $10,000 |
Novant Health Inc Winston Salem, NC PURPOSE: COMMUNITY OUTREACH | $8,000 |
Dee-Lite Foundation Limited Melville, NY PURPOSE: EDUCATION | $8,000 |
The Steve Smith Family Foundation Charlotte, NC PURPOSE: GENERAL SUPPORT | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $29 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Charitable Ashburn, VA | $209,799,923 | $22,185,205 |
Wnc Bridge Foundation Asheville, NC | $146,559,840 | $12,380,465 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
The Savannah Community Foundation Inc Savannah, GA | $54,173,792 | $9,998,384 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
The Giving Kitchen Initiative Inc Atlanta, GA | $5,202,127 | $3,829,430 |
Kermit G Phillips Ii Charitable Tr Greensboro, NC | $71,515,607 | $5,235,464 |
Troon Foundation Elon, NC | $48,656,909 | $2,507,639 |
Frances P Bunnelle Foundation Pawleys Island, SC | $50,346,506 | $4,044,110 |
Glass Family Foundation Inc Asheville, NC | $24,447,807 | $3,179,935 |
Speedway Childrens Charities Concord, NC | $415,792 | $1,752,353 |