High Point Community Foundation
- Assets
- $114.2m
- Revenue
- $14.8m
- Investments
- $14.4m
- Employees
- 5
- Location
- High Point, NC
- Founding
- 02/1991
- Data as of
- 06/2020
- EIN
- 56-1695787
Organization Overview
High Point Community Foundation is located in High Point, NC. 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. As of 06/2021, High Point Community Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. High Point 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 06/2020, High Point Community Foundation generated $14.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $14.1m during the year ending 06/2020. While expenses have increased by 2.5% per year over the past 6 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 2016, High Point Community Foundation has awarded 121 individual grants totaling $2,491,290. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE HIGH POINT COMMUNITY FOUNDATION WORKS FOR THE BETTERMENT OF THE GREATER HIGH POINT COMMUNITY BY PROVIDING CHARITABLE SERVICES TO DONORS TO HELP THEM ACHIEVE THEIR CHARITABLE GOALS, AND BY MAKING GRANTS TO CHARITABLE ORGANIZATIONS TO FUND INITIATIVES FOR THE IMPROVEMENT OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HIGH POINT COMMUNITY FOUNDATION SERVES THE COMMUNITY OF GREATER HIGH POINT BY RAISING AN UNRESTRICTED ENDOWMENT THAT DIRECTLY UNDERWRITES ESSENTIAL NON-PROFIT ORGANIZATIONS AND CRITICAL COMMUNITY INITIATIVES THROUGH AN ANNUAL GRANTING PROGRAM. TO THAT END, IN THIS FISCAL YEAR, THE ANNUAL GRANTS PROGRAM GRANTED OVER $400,000. THE HEART OF HIGH POINT INITIATIVE FUND GRANTED OVER $21,000 TO NONPROFIT ORGANIZATIONS, PROVIDING BASIC NEEDS FOR EMERGENCIES THAT MIGHT SHUT DOWN OPERATIONS. IN ADDITION, THE FOUNDATION MANAGES A DIVERSE COLLECTION OF DONOR ADVISED FUNDS THAT HAVE INVESTED MILLIONS OF DOLLARS AND TREMENDOUS LEADERSHIP BACK INTO THE COMMUNITY THROUGH THEIR MONETARY ADVISEMENTS AND THEIR VISION FOR THE CREATION OF SOCIAL CAPITAL AND THE ENHANCEMENT OF THE QUALITY OF LIFE IN HIGH POINT. $15,199,531 WAS GRANTED TO OTHER NONPROFIT ORGANIZATIONS BOTH LOCALLY AND NATIONALLY. FINALLY, THE FOUNDATION IS A LEADING ADVOCATE AND INITIATOR OF SOCIAL CAUSES THAT DRAMATICALLY IMPACT THOSE IN OUR COMMUNITY WHO DO NOT HAVE A STRONG VOICE, LARGE RESOURCES, OR HOPE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Lessard President | Officer | 37.5 | $176,763 |
Zach Barnes Trustee | Trustee | 1 | $0 |
John Bencini Chair | Trustee | 1 | $0 |
Ann Busby Trustee | Trustee | 1 | $0 |
David Covington Trustee | Trustee | 1 | $0 |
IV Culp Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,523,623 |
| Investment income | $2,055,873 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $125,651 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,778,667 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $190,564 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $284,391 |
| Pension plan accruals and contributions | $5,792 |
| Other employee benefits | $28,712 |
| Payroll taxes | $32,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $508 |
| Fees for services: Accounting | $17,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $439,851 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,629 |
| Office expenses | $37,225 |
| Information technology | $6,386 |
| Royalties | $0 |
| Occupancy | $9,706 |
| Travel | $771 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,663 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,794 |
| Insurance | $6,598 |
| All other expenses | $0 |
| Total functional expenses | $14,093,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402,092 |
| Savings and temporary cash investments | $29,861,308 |
| Pledges and grants receivable | $1,247,533 |
| Accounts receivable, net | $80,906 |
| 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 | $6,505 |
| Investments—publicly traded securities | $68,143,403 |
| Investments—other securities | $14,412,933 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $114,170,503 |
| Accounts payable and accrued expenses | $117,985 |
| 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 | $5,009,828 |
| Total liabilities | $5,127,813 |
| 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 | $109,042,690 |
Grants Awarded
Over the last fiscal year, High Point Community Foundation has awarded $414,100 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
High Point, NC PURPOSE: MEN'S SHELTER | $37,200 |
High Point, NC PURPOSE: OPERATIONAL EXPENSES | $31,000 |
WEST END MINISTRIES PURPOSE: BASIC NEEDS ASSISTANCE | $28,600 |
High Point, NC PURPOSE: CHILDREN'S NEEDS | $27,400 |
HIGH POINT LEAP PURPOSE: CHILDREN'S EDUCATION | $27,000 |
NORTHWOOD ELEMENTARY SCHOOL PURPOSE: TECHNOLOGY | $26,400 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that High Point Community Foundation has recieved totaling $1,255,032.
| Awarding Organization | Amount |
|---|---|
High Point University High Point, NC PURPOSE: GENERAL SUPPORT | $1,000,000 |
Charles E Hayworth Jr Foundation Winston Salem, NC PURPOSE: NIDO & MARIANA QUBEIN CHILDREN'S MUS | $167,500 |
David R Hayworth Foundation Winston Salem, NC PURPOSE: NIDO & MARIANA QUBEIN CHILDREN'S MUS | $82,500 |
Foscue Foundation Las Vegas, NV PURPOSE: GENERAL OPERATING | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $32 |
Endowment Analysis
| Beg. Balance | $52,043,840 |
| Earnings | $6,709,540 |
| Admin Expense | $298,209 |
| Net Contributions | $4,593,517 |
| Grants | $19,079,319 |
| Ending Balance | $43,969,369 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charlottesville Area Community Foundation Charlottesville, VA | $339,690,669 | $77,610,040 |
North Carolina Community Foundation Inc Raleigh, NC | $442,779,010 | $109,848,330 |
Hampton Roads Community Foundation Norfolk, VA | $431,066,210 | $16,919,172 |
Triangle Community Foundation Durham, NC | $302,593,887 | $28,260,487 |
Coastal Community Foundation Of South Carolina Inc N Charleston, SC | $293,333,431 | $80,143,972 |
Chattanooga Christian Community Foundation Chattanooga, TN | $107,861,272 | $37,732,736 |
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN | $242,437,300 | $52,106,763 |
East Tennessee Foundation Knoxville, TN | $333,652,631 | $23,055,951 |
The Community Foundation Of Western North Carolina Inc Asheville, NC | $422,748,745 | $38,320,270 |
Community Foundation Of Greater Greensboro Inc Greensboro, NC | $268,212,461 | $40,395,887 |
Community Foundation Of Greenville Inc Greenville, SC | $110,749,055 | $32,278,412 |
Spartanburg County Foundation Spartanburg, SC | $213,613,348 | $29,550,562 |