Methodist Home For Children Foundation
- Assets
- $21.8m
- Revenue
- $2.5m
- Investments
- $20.9m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 01/2002
- Data as of
- 06/2022
- EIN
- 56-2259577
Organization Overview
Methodist Home For Children Foundation is located in Raleigh, NC. The organization was established in 2002. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Methodist Home For Children 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 06/2022, Methodist Home For Children Foundation generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $670.0k 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
SUPPORTING ORGANIZATION FOR THE BENEFIT OF THE METHODIST HOME FOR CHILDREN, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF THE METHODIST HOME FOR CHILDREN, INC. OPERATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Walston Vice Chair | OfficerTrustee | 1 | $0 |
Marcus Green Treasurer | OfficerTrustee | 1 | $0 |
Joe Mann Secretary | OfficerTrustee | 1 | $0 |
Erik Ross Member At Large | OfficerTrustee | 1 | $0 |
Rev Bruce Stanley President/ceo | OfficerTrustee | 1 | $0 |
Jessica Vickers Chair | OfficerTrustee | 1 | $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 | $673,329 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $673,329 |
| Total Program Service Revenue | $0 |
| Investment income | $469,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,307,168 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,450,093 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $111,772 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $558,260 |
| Total functional expenses | $670,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,641 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $20,928,065 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $810,579 |
| Total assets | $21,761,285 |
| Accounts payable and accrued expenses | $16,709 |
| 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 | $27,183 |
| Total liabilities | $43,892 |
| Net assets without donor restrictions | $17,598,991 |
| Net assets with donor restrictions | $4,118,402 |
| 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 | $21,761,285 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Methodist Home For Children Foundation has recieved totaling $24,456.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: PHILANTHROPY | $18,250 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $3,606 |
E Merle And Ollie W Edwards Foundation Inc Kinston, NC PURPOSE: CHARITABLE | $2,500 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $100 |
Endowment Analysis
| Beg. Balance | $24,308,726 |
| Earnings | -$2,694,393 |
| Net Contributions | $1,053,995 |
| Other Expense | $929,684 |
| Ending Balance | $21,738,644 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Illuminations Foundation Inc Alpharetta, GA | $6,093,722 | $37,103,304 |
A J Fletcher Foundation Raleigh, NC | $168,653,502 | $53,698,336 |
Hollingsworth Funds Inc Greenville, SC | $393,513,843 | $12,387,637 |
Cf Foundation Inc Atlanta, GA | $60,851,215 | $5,130,874 |
The David Belk Cannon Foundation Gastonia, NC | $0 | $4,765,855 |
World Poultry Foundation Inc Tucker, GA | $28,014,565 | $2,601,293 |
Seymour Family Foundation Irrev Charitable Trust Uad 12-21-15 Charlotte, NC | $3,421,952 | $6,290,943 |
Waterfall Foundation Inc Atlanta, GA | $17,781,141 | $467,284 |
Ted And Drama Russell Family Foundation Knoxville, TN | $97,704,141 | $6,828,732 |
Commonwealth Foundation V Richmond, VA | $38,532,929 | $6,620,642 |
Commonwealth Foundation Iv Richmond, VA | $38,533,029 | $6,621,693 |
R E B Foundation Richmond, VA | $74,287,615 | $7,129,947 |