Big Rock Foundation Inc
- Assets
- $4.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Morehead City, NC
- Founding
- 10/2000
- Data as of
- 10/2022
- EIN
- 56-2189146
Organization Overview
Big Rock Foundation Inc is located in Morehead City, NC. The organization was established in 2000. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Big Rock 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 10/2022, Big Rock Foundation Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.7% each year . All expenses for the organization totaled $202.8k during the year ending 10/2022. While expenses have increased by 18.0% per year over the past 7 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 2015, Big Rock Foundation Inc has awarded 79 individual grants totaling $1,288,807. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS RAISING FUNDS FOR CHARITIES AND WORTHY COMMUNITY PROJECTS TO PROMOTE CONSERVATION AMOUNG SPORTSFISHERMEN AND PRESERVE MARITIME CULTURE AND HERITAGE WHILE PROMOTING MARINE EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS ABLE TO DONATE BACK TO LOCAL CORE CHARITIES $79,500. THESE CHARITIES REPRESENT A DIVERSE GROUP OF ORGANIZATIONS THROUGHOUT CARTERET COUNTY AND NORTH CAROLINA. THE NC SYMPHONY WAS OUR LARGEST DONEE FOR FY 2021-2022 AND THE FUNDS RECEIVED BY THE SYMPHONY ARE USED FOR THE NC SYMPHONY TO COME AND PERFORM BEFORE ELEMENTARY CHILDREN IN THE CARTERET COUNTY SCHOOLS. THEY WERE AWARDED $17,500. THE FOUNDATION ALSO AWARDED FUNDS TO THE NC AGRICULTURAL FOUNDATION IN THE AMOUNT OF $10,000 AND THESE FUNDS WERE USED TO PROMOTE AGRICULTURAL FARMING AND FISHING THROUGHOUT NORTH CAROLINA. OTHER ORGANIZATIONS SUCH AS THE EAST CAROLINA BOY SCOUTS AND THE BROAD STREET CLINIC WERE AWARDED $7,500 EACH TO ASSIST WITH THEIR ANNUAL BUDGETING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard Basnight Vice President | Officer | 1 | $0 |
Mike Thompson Treasurer | Officer | 1 | $0 |
Jack Jordan President | Officer | 1 | $0 |
Tommy Bennett Secretary | Officer | 1 | $0 |
Richard Crowe Director | Trustee | 1 | $0 |
Dale Britt Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,015,668 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $239,113 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,254,781 |
| Total Program Service Revenue | $0 |
| Investment income | $94,101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $48,807 |
| Net Gain/Loss on Asset Sales | -$17,735 |
| Net Income from Fundraising Events | $23,480 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,403,434 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $79,500 |
| 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 | $77,902 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,500 |
| Payroll taxes | $5,443 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $188 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,998 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,148 |
| Office expenses | $993 |
| 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 | $202,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,284 |
| Savings and temporary cash investments | $584,023 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $48 |
| 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 | $931,727 |
| Investments—publicly traded securities | $2,555,229 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,000 |
| Total assets | $4,292,311 |
| Accounts payable and accrued expenses | $25,731 |
| 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 | $25,731 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $4,266,580 |
| Total liabilities and net assets/fund balances | $4,292,311 |
Grants Awarded
Over the last fiscal year, Big Rock Foundation Inc has awarded $79,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Raleigh, NC PURPOSE: PROVIDE FUNDING TO ENABLE THE LOCAL THEATER TO PROVIDE VIRTUAL CONCERTS TO CARTERET COUNTY ELEMENTARY SCHOOLS. | $17,000 |
Raleigh, NC PURPOSE: PROVIDE FUNDING TO THE NC STATE FOUNDATION SO IT CAN PROVIDE RESEARCH STUDENTS DURING THE WEEK OF THE BIG ROCK TOURNAMENT FOR THEIR HOUSING AND RELATED EXPENSES. | $10,000 |
Morehead City, NC PURPOSE: TO PROVIDE FUNDING TO THE LOCAL CLINIC TO ALLOW THEM TO PROVIDE MEDICAL SERVICE FOR THOSE WHO NEED THEM IN THE LOCAL COMMUNITY. | $7,500 |
Morehead City, NC PURPOSE: FUND LOCAL ORGAIZATION'S EMERGENCY FINANCIAL ASSISTANCE WHICH WILL ENABLE THEM TO ASSIST THE NEEDS OF THE HOMELESS IN THE LOCAL AREA. | $7,500 |
EASTERN CAROLINA COUNCIL BSA PURPOSE: TO PROVIDE FUNDING TO THE BSA EASTERN COUNCIL FOR USE TO DEVELOP YOUTH INTO RESPONSIBLE CITIZENS. | $7,500 |
Morehead City, NC PURPOSE: PROVIDE FUUNDING FOR LOCAL ORGANIZATION TO ENABLE THEM TO RESTOCK THEIR PANTRY AND PROVIDE FOOD FOR QUALIFYING NEEDY FAMILIES IN THE AREA. | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Big Rock Foundation Inc has recieved totaling $2,031,472.
| Awarding Organization | Amount |
|---|---|
Crystal Coast Tournament Inc Morehead City, NC PURPOSE: TO PROVIDE FUNDING TO THE FOUNDATION SO IT CAN PROVIDE ASSISTANCE TO CHILD RELATED ACTIVITITES | $2,015,668 |
He Hill Founadation In C Belle Glade, FL PURPOSE: LOCAL COMMUNITY SUPPORT | $7,706 |
He Hill Founadation In C Belle Glade, FL PURPOSE: LOCAL COMMUNITY SUPPORT | $6,994 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $650 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $204 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ninth District Opportunity Inc Gainesville, GA | $20,597,568 | $53,356,026 |
Nema Foundation Inc Tallulah Falls, GA | $40,863,488 | $61,480,995 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
New Morning Foundation Columbia, SC | $9,598,750 | $10,587,010 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
York Foundation Herndon, VA | $79,294,285 | $7,194,037 |