Carolina Hurricanes Foundation Inc
- Assets
- $1.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 07/1986
- Data as of
- 07/2023
- EIN
- 22-2652765
Organization Overview
Carolina Hurricanes Foundation Inc is located in Raleigh, NC. The organization was established in 1986. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, 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. Carolina Hurricanes 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 07/2023, Carolina Hurricanes Foundation Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $611.6k during the year ending 07/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Carolina Hurricanes Foundation Inc has awarded 203 individual grants totaling $4,092,800. 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
THE FOUNDATION RAISES AND DONATES MONEY TO VARIOUS ORGANIZATIONS IN ORDER TO SUPPORT THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES CONTRIBUTIONS TO VARIOUS ORGANIZATIONS, PRIMARILY CHARITABLE IN NATURE, IN ORDER TO SUPPORT LOCAL CAUSES AND GENERATE GOODWILL IN THE COMMUNITY IN WHICH THE CAROLINA HURRICANES ARE LOCATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Waddell President | OfficerTrustee | 1 | $0 |
Shaun Nicholson Treasurer | OfficerTrustee | 1 | $0 |
Nigel Wheeler Secretary | OfficerTrustee | 1 | $0 |
Greg Dobbyn Board Member | Trustee | 1 | $0 |
Courtney Kamlet Board Member | Trustee | 1 | $0 |
Michael Mcmyne Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $704,738 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $235,780 |
| Noncash contributions included in lines 1a–1f | $190,266 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $940,518 |
| Total Program Service Revenue | $0 |
| Investment income | $16,594 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$42,692 |
| Net Income from Gaming Activities | $41,619 |
| Net Income from Sales of Inventory | $48,053 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,004,092 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $446,633 |
| 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 | $657 |
| Fees for services: Accounting | $4,442 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,250 |
| Advertising and promotion | $0 |
| Office expenses | $22,047 |
| Information technology | $6,311 |
| Royalties | $0 |
| Occupancy | $81,750 |
| Travel | $949 |
| 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 | $958 |
| All other expenses | $9,571 |
| Total functional expenses | $611,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,070,650 |
| Savings and temporary cash investments | $5,007 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,040 |
| 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 | $717 |
| 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 | $1,083,414 |
| Accounts payable and accrued expenses | $13,687 |
| Grants payable | $0 |
| Deferred revenue | $9,500 |
| 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 | $23,187 |
| Net assets without donor restrictions | $1,060,227 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,083,414 |
Grants Awarded
Over the last fiscal year, Carolina Hurricanes Foundation Inc has awarded $285,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
UNC HEALTH FOUNDATION PURPOSE: SEE PART IV | $75,000 |
RALEIGH YOUTH HOCKEY ASSOCIATION PURPOSE: SEE PART IV | $50,000 |
KRAMDEN INSTITUTE INC PURPOSE: SEE PART IV | $15,000 |
TRANSITIONS LIFE CARE PURPOSE: SEE PART IV | $15,000 |
TRIANGLE FAMILY SERVICES PURPOSE: SEE PART IV | $15,000 |
TRIANGLE SPECIAL HOCKEY ASSOCIATION PURPOSE: SEE PART IV | $15,000 |