North East Community Foundation
- Assets
- $15.1m
- Revenue
- $5.7m
- Investments
- $4.6m
- Employees
- 0
- Location
- Erie, PA
- Founding
- 08/1991
- Data as of
- 12/2022
- EIN
- 25-1650208
Organization Overview
North East Community Foundation is located in Erie, PA. The organization was established in 1991. According to its NTEE Classification (T31) the organization is classified as: Community 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. North East Community 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 12/2022, North East Community Foundation generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 37.1% each year . All expenses for the organization totaled $597.2k during the year ending 12/2022. While expenses have increased by 10.3% 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 2014, North East Community Foundation has awarded 126 individual grants totaling $1,778,176. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC CHARITABLE COMMUNITY FOUNDATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENHANCE THE QUALITY OF LIFE IN THE COMMUNITY OF NORTH EAST BY PROVIDING GRANTS TO OTHER EDUCATIONAL, CULTURAL AND RECREATIONAL ORGANIZATIONS. GRANTS FROM UNRESTRICTED ENDOWMENTS ARE DISTRIBUTED TO CHARITIES AND PROGRAMS IN NORTH EAST, PA THROUGH A COMPETITIVE APPLICATION PROCESS. AFTER PROPER DUE DILIGENCE, GRANTS FROM DONOR ADVISED, SCHOLARSHIP AND DESIGNATED FUNDS ARE MADE IN ACCORDANCE WITH THE RECOMMENDATION OF THE DONOR AND GIFT INSTRUMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Lewis Chairman | OfficerTrustee | 1 | $0 |
Vernon Frye Vice Chair | OfficerTrustee | 1 | $0 |
Sonia Fails Secretary | OfficerTrustee | 1 | $0 |
Robert Jeffrey ESQ Treasurer | Trustee | 1 | $0 |
Christopher Miller Trustee | Trustee | 1 | $0 |
Deborah A Phillips Trustee | Trustee | 1 | $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 | $5,270,595 |
| Noncash contributions included in lines 1a–1f | $99,963 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,270,595 |
| Total Program Service Revenue | $0 |
| Investment income | $90,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $294,078 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,655,422 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $343,811 |
| Grants and other assistance to domestic individuals. | $53,540 |
| 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 | $99,114 |
| 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 | $63,278 |
| Fees for services: Other | $33 |
| Advertising and promotion | $30,269 |
| Office expenses | $2,280 |
| Information technology | $990 |
| 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 | $3,706 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $150 |
| Total functional expenses | $597,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,365 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,000,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,806,069 |
| Investments—other securities | $4,638,413 |
| Investments—program-related | $612,964 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,058,811 |
| Accounts payable and accrued expenses | $3,015 |
| Grants payable | $54,820 |
| 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 | $39,177 |
| Total liabilities | $97,012 |
| Net assets without donor restrictions | $14,906,404 |
| Net assets with donor restrictions | $55,395 |
| 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 | $15,058,811 |
Grants Awarded
Over the last fiscal year, North East Community Foundation has awarded $290,359 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
CRESCENT HOSE CO PURPOSE: VARIOUS PROJECTS | $5,359 |
MCCORD MEMORIAL LIBRARY PURPOSE: VARIOUS PROJECTS | $15,007 |
4 NINE PLACE PURPOSE: VARIOUS PROJECTS | $19,416 |
NORTH EAST ARTS COUNCIL PURPOSE: VARIOUS PROJECTS | $17,825 |
PARK UNITED METHODIST CHURCH PURPOSE: VARIOUS PROJECTS | $19,645 |
PENN STATE ERIE THE BEHREND COLLEGE PURPOSE: GENERAL OPERATIONS | $7,065 |