Rhi Legacy Foundation Inc
- Assets
- $44.0m
- Revenue
- $2.0m
- Investments
- $41.0m
- Employees
- 0
- Location
- Rutherfordton, NC
- Founding
- 12/1929
- Data as of
- 12/2021
- EIN
- 56-0619367
Organization Overview
Rhi Legacy Foundation Inc is located in Rutherfordton, NC. The organization was established in 1929. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhi Legacy 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 12/2021, Rhi Legacy Foundation Inc generated $2.0m 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 (8.9%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Rhi Legacy Foundation Inc has awarded 32 individual grants totaling $957,682. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES CHARITABLE CONTRIBUTIONS AND GRANTS TO VARIOUS NONPROFITS AND GOVERNMENT SERVICE ORGANIZATIONS IN RUTHERFORD COUNTY, NORTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry W Hines Executive Di | 40 | $115,782 | |
Jill Miracle Cmnty Impact | 40 | $65,782 | |
Kerry Giles Secretary/tr | 1 | $0 | |
Beth Miller Chair | 1 | $0 | |
John Condrey Vice Chair | 1 | $0 | |
Maggie Bell Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $13,090 |
| Interest on Savings | $62,018 |
| Dividends & Interest | $1,185,218 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $743,350 |
| Capital Gain Net Income | $758,684 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $5,573 |
| Other Income | $1,360 |
| Total Revenue | $2,010,609 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $181,564 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $43,616 |
| Interest | $0 |
| Taxes | $2,566 |
| Depreciation | $0 |
| Occupancy | $10,436 |
| Travel, conferences, and meetings | $259 |
| Printing and publications | $1,356 |
| Other expenses | $61,689 |
| Total operating and administrative expenses | $539,828 |
| Contributions, gifts, grants paid | $982,522 |
| Total expenses and disbursements | $1,522,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $429,796 |
| Savings and temporary cash investments | $2,167,854 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $11,850 |
| 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 | $404,000 |
| Other assets | $0 |
| Total assets | $43,971,783 |
| Accounts payable and accrued expenses | $16,770 |
| 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 | $16,770 |
Grants Awarded
Over the last fiscal year, Rhi Legacy Foundation Inc has awarded $957,682 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF RUTHERFORDTON PURPOSE: ACTIVE LIVING | $125,000 |
RUTHERFORD CO SCHOOLS EDUC FND PURPOSE: HEALTHY EATING | $95,000 |
Lake Lure, NC PURPOSE: CHRONIC DISEASE | $50,000 |
RUTHERFORD COUNTY SENIOR CENTER PURPOSE: HEALTHY EATING | $50,000 |
CAROLINA MOUNTAIN LAND CONSERVANCY PURPOSE: ACTIVE LIVING | $46,400 |
Rutherfordton, NC PURPOSE: CHRONIC DISEASE | $42,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Armc Physicians Care Inc Greensboro, NC | $1,939,063 | $13,036,879 |
Macon County General Hospital Inc Lafayette, TN | $17,643,586 | $20,536,652 |
Healthcare Foundation Of Wilson Wilson, NC | $207,911,505 | $10,473,791 |
Chesapeake Hospital Corporation Kilmarnock, VA | $0 | $13,682,871 |
Alleghany County Memorial Hospital Inc Sparta, NC | $23,031,959 | $15,886,871 |
Baptist Memorial Hospital - Calhoun Inc Memphis, TN | $7,688,599 | $15,196,483 |
Wellstar Sylvan Grove Hospital Inc Marietta, GA | $8,619,975 | $16,516,673 |
Pender Memorial Hospital Incorporated Burgaw, NC | $39,814,102 | $13,183,408 |
Copper Basin Community Hospital Inc Copperhill, TN | $1,227,357 | $12,149,873 |
Kershawhealth Camden, SC | $123,086,645 | $13,029,458 |
The Spartanburg Regional Healthcare System Foundation Spartanburg, SC | $49,277,778 | $9,433,693 |
Wellmont Hawkins County Memorial Hospital Inc Johnson City, TN | $4,609,870 | $18,175,881 |