Patterson School Foundation Inc
- Assets
- $2.7m
- Revenue
- $873.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Patterson, NC
- Founding
- 11/1996
- Data as of
- 06/2022
- EIN
- 56-1938833
Organization Overview
Patterson School Foundation Inc is located in Patterson, NC. The organization was established in 1996. According to its NTEE Classification (B90) the organization is classified as: Educational Services, 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. Patterson School 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 06/2022, Patterson School Foundation Inc generated $873.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $204.7k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL OPPORTUNITIES WITH A STRONG COMMITMENT TO ENVIRONMENTAL STEWARDSHIP, SUSTAINABLE AGRICULTURE, HISTORICAL PRESERVATION, AND OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EDUCATIONAL AND HOUSING FACILITIES FOR COMMUNITY EDUCATIONAL PROGRAMS SUPPORTING ENVIRONMENTAL STEWARDSHIP AND SUSTAINABLE AGRICULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanie Guglielmi Recording Secretary | OfficerTrustee | 2 | $0 |
Danny Seaver Chairman | OfficerTrustee | 2 | $0 |
Janet Spoon Treasurer/acting Vice President | OfficerTrustee | 2 | $0 |
Kitty Gurkin Rosati Director | Trustee | 1 | $0 |
Lisa Hartley Director | Trustee | 1 | $0 |
William Compton Vice Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $70 |
| Related organizations | $0 |
| Government grants | $11,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $742,616 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $754,186 |
| Total Program Service Revenue | $7,582 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $111,690 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $873,462 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $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 | $1,133 |
| Fees for services: Accounting | $41,269 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,309 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,804 |
| 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 | $31,126 |
| Insurance | $10,238 |
| All other expenses | $1,788 |
| Total functional expenses | $204,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $233,945 |
| Savings and temporary cash investments | $341,582 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,151,304 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $976,995 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $29,276 |
| Other assets | $0 |
| Total assets | $2,733,102 |
| Accounts payable and accrued expenses | $227 |
| 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 | $57,223 |
| Secured mortgages and notes payable | $300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,990 |
| Total liabilities | $360,440 |
| Net assets without donor restrictions | $2,372,662 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,733,102 |
Grants Awarded
Over the last fiscal year, Patterson School Foundation Inc has awarded $37,802 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN NC SCUPTURE CENTER PURPOSE: SCULPTURE EDUCATION | $2,914 |
HAPPY VALLEY FIDDLERS CONVENTION PURPOSE: MUSIC APPRECIATION | $34,788 |
DULATOWN PRESBYERIAN PURPOSE: MEMORIAL | $100 |