Sterling Foundation
- Assets
- $534.8k
- Revenue
- $132.5k
- Investments
- $520.8k
- Employees
- 0
- Location
- Pittsboro, NC
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 32-6432105
Organization Overview
Sterling Foundation is located in Pittsboro, NC. The organization was established in 2017. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Sterling 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, Sterling Foundation generated $132.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 70.2% each year . All expenses for the organization totaled $42.1k during the year ending 12/2022. While expenses have increased by 8.8% per year over the past 4 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCORDIA THEOLOGICAL SEMINARY
SPORTSQUEST
AFRICAN INLAND MISSION
LUTHERAN BIBLE TRANSLATORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Robinson Trustee | 2 | $0 | |
Esther Robinson Trustee | 0.5 | $0 | |
Rachel Hahn Trustee | 0.5 | $0 | |
Sarah Barbera Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $27,944 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $104,519 |
| Capital Gain Net Income | $104,519 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $132,463 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $90 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,000 |
| Total operating and administrative expenses | $10,090 |
| Contributions, gifts, grants paid | $32,000 |
| Total expenses and disbursements | $42,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,946 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $534,771 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Sterling Foundation has awarded $32,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
MISC DONORS 6 ALL AT 1000 EACH PURPOSE: DONATIONS | $6,000 |
CONCORDIA THEOLOGICAL SEMINARY PURPOSE: DONATION | $4,000 |
AFRICAN INLAND MISSION PURPOSE: DONATION | $4,000 |
Cypress, TX PURPOSE: DONATION | $4,000 |
Concordia, MO PURPOSE: DONATION | $3,500 |
Newland, NC PURPOSE: DONATION | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Fraser-Parker Foundation Atlanta, GA | $226,420,772 | $14,099,479 |
Paces Foundation Inc Smyrna, GA | $85,397,872 | $9,603,919 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
The Ma-Ran Foundation Atlanta, GA | $81,838,064 | $4,938,726 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |
Robert H Smith Family Foundation Arlington, VA | $10,315,724 | -$3,599,936 |