Big Rock Foundation Inc
- Assets
- $5.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Morehead City, NC
- Founding
- 10/2000
- Data as of
- 10/2023
- 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 10/2023, Big Rock Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.3% each year . All expenses for the organization totaled $284.3k during the year ending 10/2023. While expenses have increased by 23.8% 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 81 individual grants totaling $1,359,307. 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
2023
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 AMONG 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 $161,500. THESE CHARITIES REPRESENT A DIVERSE GROUP OF ORGANIZATIONS THROUGHOUT CARTERET COUNTY AND NORTH CAROLINA. THE BOYS AND GIRLS CLUB OF THE COASTAL PLAINS WAS OUR LARGEST DONEE FOR FY 2022-2023 AND THE FUNDS RECEIVED BY THE BOYS AND GIRLS CLUB ARE USED TO INSPIRE AND ENABLE ALL YOUNG PEOPLE, ESPECIALLY THOSE WHO NEED THEM MOST, TO REALIZE THEIR FULL POTENTIAL AS PRODUCTIVE, RESPONSIBLE AND CARING CITIZENS. THEY WERE AWARDED $35,000. THE FOUNDATION ALSO AWARDED FUNDS TO THE CARTERET HEALTH CARE IN THE AMOUNT OF $ 25,000 AND THESE FUNDS ARE FOR PATIENT COMFORT/CARE DURING CHEMOTHERAPY AND RADIATION TREATMENTS. 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 |
|---|---|---|---|
Dale Britt Director | Trustee | 1 | $0 |
Richard Crowe Director | Trustee | 1 | $0 |
Randy Ramsey Director | Trustee | 1 | $0 |
Casey Wagner Director | Trustee | 1 | $0 |
Jim Bailey Director | Trustee | 1 | $0 |
Howard Basnight Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,200,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $125,433 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,325,433 |
| Total Program Service Revenue | $0 |
| Investment income | $103,412 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $48,807 |
| Net Gain/Loss on Asset Sales | $4,425 |
| Net Income from Fundraising Events | $40,324 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,522,401 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $161,500 |
| 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 | $63,743 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,391 |
| Payroll taxes | $3,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,048 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,689 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $441 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,420 |
| Travel | $222 |
| 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 | $284,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,177 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $370 |
| 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 | $2,156,549 |
| Investments—publicly traded securities | $3,422,791 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,594,887 |
| 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 | $90,181 |
| Total liabilities | $90,181 |
| 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 | $5,504,706 |
| Total liabilities and net assets/fund balances | $5,594,887 |
Grants Awarded
Over the last fiscal year, Big Rock Foundation Inc has awarded $153,500 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BROAD STREET CLINIC 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 |
EASTERN CAROLINA COUNCIL BSA PURPOSE: TO PROVIDE FUNDING TO THE BSA EASTERN COUNCIL FOR USE TO DEVELOP YOUTH INTO RESPONSIBLE CITIZENS. | $7,500 |
HISTORY MUSEUM OF CARTERET COUNTY (THE HISTORY PLACE) PURPOSE: TO PROVIDE FUNDING TO ENABLE THE ORGANIZATION TO HAVE A HISTORICAL VIDEO PRODUCED, PRESERVE THE LOCAL HERITAGE & EDUCATE. | $7,500 |
HOPE MISSION 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 |
MARTHA'S MISSION 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 |
NC AGRICULTURE FOUNDATION INC 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 |