The Community Foundation Of Western North Carolina Inc
- Assets
- $422.7m
- Revenue
- $38.3m
- Investments
- $155.9m
- Employees
- 21
- Location
- Asheville, NC
- Founding
- 09/1979
- Data as of
- 06/2021
- EIN
- 56-1223384
Organization Overview
The Community Foundation Of Western North Carolina Inc is located in Asheville, NC. The organization was established in 1979. 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. As of 06/2023, Community Foundation Of Western North Carolina Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of Western North Carolina 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 06/2021, Community Foundation Of Western North Carolina Inc generated $38.3m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $22.5m during the year ending 06/2021. While expenses have increased by 2.9% per year over the past 3 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 2021, Community Foundation Of Western North Carolina Inc has awarded 1,454 individual grants totaling $53,417,791. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S MISSION STATEMENT.THE COMMUNITY FOUNDATION IS A PHILANTHROPIC ORGANIZATION DEDICATED TO RAISING CHARITABLE CAPITAL FOR THE BENEFIT OF ITS 18-COUNTY REGION, AND STRATEGICALLY ALLOCATING RESOURCES TO ADDRESS PRESSING NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MADE NUMEROUS CHARITABLE CONTRIBUTIONS TO SPECIFIC APPROVED 501(C)(3) ORGANIZATIONS, AND TO INDIVIDUALS FOR SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Avery Director | Trustee | 1 | $0 |
Himanshu Karvir Treasurer | OfficerTrustee | 1 | $0 |
Connie Haire Director | Trustee | 1 | $0 |
Elizabeth K Brazas President | OfficerTrustee | 40 | $297,979 |
Ellen Carr Director | Trustee | 1 | $0 |
Francisco Castelblanco Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,842,724 |
| Investment income | $3,124,776 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,231,189 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,320,270 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $489,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,231,347 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $644,328 |
| Pension plan accruals and contributions | $51,259 |
| Other employee benefits | $220,332 |
| Payroll taxes | $120,175 |
| Fees for services: Management | $154,947 |
| Fees for services: Legal | $18,992 |
| Fees for services: Accounting | $63,958 |
| Fees for services: Lobbying | $11,994 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $567,314 |
| Fees for services: Other | $164,979 |
| Advertising and promotion | $0 |
| Office expenses | $32,303 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,716 |
| Travel | $2,391 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,615 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,530 |
| Insurance | $16,265 |
| All other expenses | $0 |
| Total functional expenses | $22,531,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,602,806 |
| Savings and temporary cash investments | $15,319,126 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $144,332 |
| 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 | $33,003 |
| Investments—publicly traded securities | $247,611,707 |
| Investments—other securities | $155,934,276 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $422,748,745 |
| Accounts payable and accrued expenses | $21,975 |
| Grants payable | $544,317 |
| 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 | $107,373,625 |
| Total liabilities | $107,939,917 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $314,808,828 |
Grants Awarded
Over the last fiscal year, The Community Foundation Of Western North Carolina Inc has awarded $18,520,213 in support to 531 organizations.
| Grant Recipient | Amount |
|---|---|
A BETTER LIFE ANIMAL RESCUE PURPOSE: ANIMAL WELFARE | $91,360 |
A GIFT FOR TEACHING PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $8,500 |
A CARING SOLUTION PURPOSE: PROMOTING QUALITY HEALTH | $15,000 |
A-B TECH COMMUNITY COLLEGE FOUNDATION PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $108,138 |
ABOUNDING GRACE MINISTRY PURPOSE: ASSISTING PEOPLE IN NEED | $5,200 |
ACLU OF NORTH CAROLINA LEGAL FOUNDATION PURPOSE: BUILDING COMMUNITY & ECONOMIC VITALITY | $51,750 |