Western Piedmont Foundation Inc
- Assets
- $3.7m
- Revenue
- $289.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Morganton, NC
- Founding
- 12/1986
- Data as of
- 06/2022
- EIN
- 23-7227728
Organization Overview
Western Piedmont Foundation Inc is located in Morganton, NC. The organization was established in 1986. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Piedmont 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 06/2022, Western Piedmont Foundation Inc generated $289.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $177.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WESTERN PIEDMONT FOUNDATION IS OPERATED EXCLUSIVELY TO RECEIVE, HOLD, INVEST AND ADMINISTER PROPERTY AND MAKE EXPENDITURES TO BENEFIT WESTERN PIEDMONT CC
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT TO WESTERN PIEDMONT COMMUNITY COLLEGE FOR SCHOLARSHIPS, DEVELOPMENT GRANTS, FIXED ASSET PURCHASING AND ENRICHMENT PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bobbie Mccombs Secretary/treasurer | OfficerTrustee | 0 | $0 |
Ronnie Thompson President | OfficerTrustee | 0 | $0 |
Debbie Sigmon Vice President | OfficerTrustee | 0 | $0 |
Randy Loftis Immediate Past Presicent | OfficerTrustee | 0 | $0 |
Carrie Mull President Elect | OfficerTrustee | 0 | $0 |
Ola Caldwell Board Member | Trustee | 0 | $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 | $260,256 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $260,256 |
| Total Program Service Revenue | $0 |
| Investment income | $35,834 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,684 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $289,406 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $24,957 |
| Grants and other assistance to domestic individuals. | $57,499 |
| 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 | $5,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,204 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Total functional expenses | $177,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,176 |
| Savings and temporary cash investments | $0 |
| 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 | $2,528 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,440,629 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,708,333 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $68,863 |
| Net assets with donor restrictions | $3,639,470 |
| 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 | $3,708,333 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Western Piedmont Foundation Inc has recieved totaling $29,030.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Burke County Morganton, NC PURPOSE: EDUCATION | $29,012 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $18 |
Endowment Analysis
| Beg. Balance | $2,447,105 |
| Net Contributions | $28,500 |
| Ending Balance | $2,475,605 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Greenville University Tigerville, SC | $119,067,807 | $70,918,977 |
Young Harris College Young Harris, GA | $174,387,873 | $47,760,154 |
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Truett Mcconnell University Inc Cleveland, GA | $54,652,969 | $32,427,096 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Spartanburg Methodist College Spartanburg, SC | $52,317,686 | $26,371,934 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Andrew College Cuthbert, GA | $29,741,190 | $11,623,662 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Clinton College Rock Hill, SC | $6,214,571 | $5,235,874 |