A J Fletcher Foundation
- Assets
- $263.8m
- Revenue
- $6.1m
- Investments
- $33.5m
- Employees
- 6
- Location
- Raleigh, NC
- Founding
- 01/1975
- Data as of
- 12/2023
- EIN
- 23-7423031
Organization Overview
A J Fletcher Foundation is located in Raleigh, NC. The organization was established in 1975. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, A J Fletcher Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. A J Fletcher 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, A J Fletcher Foundation generated $6.1m 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 (27.8%) each year. All expenses for the organization totaled $8.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, A J Fletcher Foundation has awarded 246 individual grants totaling $34,397,475. 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
SEE SCHEDULE O NARRATIVE FOR PART III, LINE 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE A.J. FLETCHER FOUNDATION IS A SUPPORTING ORGANIZATION FOR THE FLETCHER ACADEMY SCHOOL OF ACHIEVEMENT, INC., SERVING NORTH CAROLINA AS AN INDEPENDENT, CO-EDUCATIONAL DAY SCHOOL WITH OVER 200 STUDENTS IN GRADES 1-12 WITH LEARNING DISABILITIES AND/OR ATTENTION DEFICIT DISORDERS. THE ACADEMY HELPS THESE SPECIAL STUDENTS MASTER BASIC ACADEMIC AND SOCIAL SKILLS WHILE INSTILLING IN THEM A POSITIVE SENSE OF THEIR OWN RESPONSIBILITY FOR LEARNING. THE SCHOOL IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF INDEPENDENT SCHOOLS AND THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS.
IN KEEPING WITH ITS MISSION OF SUPPORTING CHARITABLE ORGANIZATIONS WITH CERTAIN PURPOSES LOCATED IN NORTH CAROLINA OR SERVING NORTH CAROLINA RESIDENTS, THE A.J. FLETCHER FOUNDATION MADE GRANTS TOTALING $5,477,600 TO CHARITABLE ORGANIZATIONS INVOLVED IN THE SUPPORT OF THE ELDERLY, INFIRM OR INDIGENT, IN EDUCATION, IN ARTISTIC ENDEAVORS, IN COMMUNICATION ARTS, IN PUBLIC RECREATION, AND IN FOSTERING RELIGIOUS FAITH. SEE ALSO SCHEDULE I, FOR A DETAILED LIST OF ALL GRANTS PAID IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James F Goodmon Chairman Of The Board | Trustee | 2 | $0 |
Beth Briggs Director | Trustee | 1 | $0 |
Maria Spaulding Director | Trustee | 1 | $0 |
Michael Goodmon Director | Trustee | 1 | $0 |
James F Goodmon Jr Director | Trustee | 1 | $0 |
Greg Patterson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wells Fargo Investment Fees | 12/30/23 | $217,885 |
Vanguard Investment Fees | 12/30/23 | $158,424 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $6,037,140 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,338,579 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,065,550 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,677,600 |
| 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. | $253,310 |
| Compensation of current officers, directors, key employees. | $63,328 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,891 |
| Pension plan accruals and contributions | $42,605 |
| Other employee benefits | $42,379 |
| Payroll taxes | $29,351 |
| Fees for services: Management | $4,348 |
| Fees for services: Legal | $69,578 |
| Fees for services: Accounting | $58,315 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $376,309 |
| Fees for services: Other | $36,669 |
| Advertising and promotion | $560 |
| Office expenses | $22,300 |
| Information technology | $19,496 |
| Royalties | $0 |
| Occupancy | $76,282 |
| Travel | $2,722 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,165 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $89,162 |
| Insurance | $18,044 |
| All other expenses | $0 |
| Total functional expenses | $8,073,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,238 |
| Savings and temporary cash investments | $11,384,174 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,149 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,676 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,230,005 |
| Investments—publicly traded securities | $213,547,564 |
| Investments—other securities | $33,530,778 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,354 |
| Total assets | $263,837,938 |
| Accounts payable and accrued expenses | $46,980 |
| 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 | $46,980 |
| Net assets without donor restrictions | $263,790,958 |
| 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 | $263,837,938 |
Grants Awarded
Over the last fiscal year, A J Fletcher Foundation has awarded $6,672,600 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
ACTIVATE GOOD INC PURPOSE: SCHOOL SUPPORT COMMUNITY PTA CAMPAIGN | $30,000 |
APPALACHIAN REGIONAL HEALTHCARE FOUNDATION PURPOSE: HOSPITAL CAPITAL CAMPAIGN | $50,000 |
APPALACHIAN LITERACY INITIATIVE PURPOSE: LITERACY SUPPORT FOR AVERY AND ALLEGHENY COUNTIES | $8,000 |
ASSOCIATION OF GOVERNING BOARDS OF UNIVERSITIES AND COLLEGES PURPOSE: SUPPORT FOR NC COMMISSION ON HIGHER ED | $25,000 |
BOOK HARVEST PURPOSE: NON-PROFIT INTERNSHIP PROGRAM | $6,000 |
BOYS & GIRLS CLUBS OF DURHAM AND ORANGE COUNTIES PURPOSE: CAPITAL EXPANSION | $30,000 |