Ocracoke Foundation Inc
- Assets
- $2.9m
- Revenue
- $385.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Ocracoke, NC
- Founding
- 10/2007
- Data as of
- 12/2021
- EIN
- 56-2602254
Organization Overview
Ocracoke Foundation Inc is located in Ocracoke, NC. The organization was established in 2007. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocracoke 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 12/2021, Ocracoke Foundation Inc generated $385.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $283.4k during the year ending 12/2021. While expenses have increased by 5.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST THE COMMUNITY WITH EDUCATIONAL, ECONOMIC, SOCIAL AND INFRASTRUCTURE NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE HERITAGE AND LIFE OF THE FISHING INDUSTRY ON OCRACOKE ISLAND.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rudy Austin Vice Preside | OfficerTrustee | 3 | $0 |
Scott Bradley President | OfficerTrustee | 25 | $0 |
Ellen Gaskill Treasurer | OfficerTrustee | 10 | $0 |
Al Scarborough Secretary | OfficerTrustee | 3 | $0 |
Gene Ballance Member | Trustee | 3 | $0 |
Claire Senseney Member | Trustee | 3 | $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 | $272,759 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,759 |
| Total Program Service Revenue | $112,639 |
| Investment income | $3 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $385,401 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,220 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,692 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,146 |
| Insurance | $0 |
| All other expenses | $2,553 |
| Total functional expenses | $283,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,746 |
| Savings and temporary cash investments | $27,792 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $156,273 |
| 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 | $2,050,402 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $255,667 |
| Other assets | $30,769 |
| Total assets | $2,887,649 |
| 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 | $31,000 |
| Secured mortgages and notes payable | $568,006 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,499 |
| Total liabilities | $605,505 |
| Net assets without donor restrictions | $2,282,144 |
| 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 | $2,887,649 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ocracoke Foundation Inc has recieved totaling $110.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $100 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $10 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Economic Development Partnership Of North Carolina Inc Raleigh, NC | $8,246,221 | $25,900,688 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |