North Carolina Bankers Association Foundation
- Assets
- $5.1m
- Revenue
- $178.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 05/1984
- Data as of
- 12/2021
- EIN
- 56-1391773
Organization Overview
North Carolina Bankers Association Foundation, operating under the name North Carolina Center For Financial Literacy Camp Challenge, is located in Raleigh, NC. The organization was established in 1984. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Center For Financial Literacy Camp Challenge 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, North Carolina Center For Financial Literacy Camp Challenge generated $178.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $62.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOCUSED ON AND COMMITTED TO THE PERSONAL, PROFESSIONAL AND FINANCIAL SUCCESS OF NORTH CAROLINA'S NEXT GENERATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NC BANKERS ASSOCIATION FOUNDATION AWARDS FINANCIAL STIPENDS FOR COLLEGE TUITION TO THE CHILDREN OF THE EMPLOYEES OF FINANCIAL INSTITUTIONS IN NORTH CAROLINA.
THE FOUNDATION FUNDS CAMP CHALLENGE, A CAMP FOR HIGH-ACHIEVING, AT-RISK MIDDLE SCHOOL STUDENTS WITH A HEAVY EMPHASIS ON FINANCIAL LITERACY.NO CAMP CHALLENGE SCHOLARSHIPS WERE AWARDED IN 2021 DUE TO COVID-19. HOWEVER, A GRANT WAS MADE TO THE YMCA OF GREENSBORO, INC. TO HELP SUSTAIN THE OPERATIONS OF CAMP WEAVER DURING THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Sills Chair | OfficerTrustee | 1 | $0 |
Peter Gwaltney President And CEO | OfficerTrustee | 10 | $0 |
Mary Willis Vice Chair | OfficerTrustee | 1 | $0 |
Blair Jernigan Event Mgmt/vp | Officer | 10 | $0 |
Nathan Batts Counsel/svp | Officer | 10 | $0 |
Diane Baldwin Cfo/vp | Officer | 10 | $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 | $42,689 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,689 |
| Total Program Service Revenue | $0 |
| Investment income | $56,449 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,815 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $177,953 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,600 |
| Grants and other assistance to domestic individuals. | $32,866 |
| 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 | $0 |
| 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 | $4,154 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $179 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $62,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,195,963 |
| Savings and temporary cash investments | $1,509,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,359 |
| 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 | $1,374,919 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,084,675 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $535,827 |
| Net assets with donor restrictions | $4,548,848 |
| 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 | $5,084,675 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that North Carolina Bankers Association Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Cahec Foundation Raleigh, NC PURPOSE: YOUTH LEADERSHIP INITIATIVE | $10,000 |
Endowment Analysis
| Beg. Balance | $1,667,155 |
| Earnings | $4,424 |
| Ending Balance | $1,671,579 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
South Carolina Educational Credit For Exceptional Needs Children Fun Columbia, SC | $1,181,238 | $5,546,279 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |