Korner Gift Shop
- Assets
- $1.6m
- Revenue
- $233.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 03/1941
- Data as of
- 06/2021
- EIN
- 56-6000865
Organization Overview
Korner Gift Shop, operating under the name Heartbeat Gifts and Korner Gift Shop, is located in Raleigh, NC. The organization was established in 1941. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heartbeat Gifts and Korner Gift Shop 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 06/2021, Heartbeat Gifts and Korner Gift Shop generated $233.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $265.2k during the year ending 06/2021. While expenses have increased by 6.4% per year over the past 6 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 RENDER ASSISTANCE TO REX HOSPITAL, INC. THROUGH VOLUNTEERISM AND FINANCIAL SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE REX HOSPITAL GUILD SUPPORTS REX HOSPITAL, INC. WITH GRANTS TO ASSIST WITH A VARIETY OF PROGRAMS. THESE PROGRAMS INCLUDE GENERAL SUPPORT FOR NURSING FACILITIES AND THE CHILDCARE CENTER, PATIENT ASSISTANCE WITH PURCHASING MEDICINES AND SCHOLARSHIPS. THE SCHOLARSHIPS ARE PROVIDED TO HIGH SCHOOL VOLUNTEERS FOR GENERAL COLLEGE PROGRAMS IN ANY FIELD OF STUDY. THE GUILD ALSO PROVIDES FUNDING FOR CONTINUING EDUCATION PROGRAMS FOR NURSES. THE GUILD PROVIDES FUNDS TO UNC REX HOME SERVICES TO ASSIST PATIENTS WITH UTILITY BILLS, FOOD, MEDICAL EQUIPMENT AND PRESCRIPTIONS AND NURSING VISITS FOR UNINSURED PATIENTS; AS WELL AS FUNDS TO CASE MANAGEMENT SERVICES FOR CLOTHING, SPECIFICALLY FOR BARIATRIC PATIENTS, SHOES AND TOILETRIES. THE GUILD ALSO PROVIDES FUNDS FOR INTERN STIPENDS IN THE REX HOSPITAL CHAPLAIN PROGRAM AND UNRESTRICTED FUNDS TO THE REX REHABILITATION CENTER FOR PATIENT NEEDS. THE GUILD SUPPORTS THE WOMEN AND CHILDREN'S CENTER THROUGH THE PURCHASE OF EQUIPMENT FOR THE BIRTHING CENTER, INCLUDING A DIGITAL CAMERA FOR BABY PHOTOS IN THE INTENSIVE CARE UNIT, BABY BOTTLES, INFANT CAR SEATS AND BEREAVEMENT CARE PACKAGES FOR PARENTS. IN ADDITION, VOLUNTEERS MAKE HATS AND GOWNS FOR THE BABIES BORN IN REX HOSPITAL. THE GUILD'S PATIENT SUPPORT PROGRAM SUPPORTS THE CANCER CENTER BY PROVIDING WIGS, BREAST PROSTHESES AND OTHER SUPPLIES NEEDED BY THE CHEMOTHERAPY PATIENTS. THE GUILD MAINTAINS THE BEAUTIFUL MAUDE GRIMES GARDENS ON REX HOSPITAL CAMPUS AS WELL AS PROVIDING GREENERY WEEKLY FOR THE CHAPEL AND POINSETTIAS FOR ALL COMMON AREAS DURING THE HOLIDAY SEASON. REX HOSPITAL GUILD HOSTS THE ANNUAL HOLIDAY TEA AND PROVIDES STUFFED BEARS AS GIFTS FOR PATIENTS SPENDING THE HOLIDAYS IN REX HOSPITAL. REX HOSPITAL GUILD IS INVOLVED WITH THE REX KORNER GIFT SHOP. REX HOSPITAL GUILD ASSISTS WITH BUYING MERCHANDISE AND WORKING SHIFTS IN THE GIFT SHOP, WHICH OFFERS A VARIETY OF GIFT ITEMS SUCH AS: BABY GIFTS, FLOWER ARRANGEMENTS, BALLOONS, INSPIRATIONAL ITEMS, SNACKS AND BOOKS AND MAGAZINES. ALL NET PROCEEDS FROM THE GIFT SHOP BENEFITS THE REX HOSPITAL GUILD PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Boney Director/vice President | OfficerTrustee | 5 | $0 |
Sandy Haar Director/treasurer | OfficerTrustee | 5 | $0 |
Katie Gillespie Director/secretary | OfficerTrustee | 5 | $0 |
Mig Hardy Director/asst Treasurer | OfficerTrustee | 5 | $0 |
Mary Brent Wright Director/president | OfficerTrustee | 5 | $0 |
Mickie Alexander Director | 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 | $1,805 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,805 |
| Total Program Service Revenue | $0 |
| Investment income | $15,643 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,553 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $132,133 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $233,359 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $96,253 |
| 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 | $1,251 |
| Advertising and promotion | $0 |
| Office expenses | $14,182 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,108 |
| 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 | $265,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $455,046 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,886 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,823 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,066,464 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,597,219 |
| Accounts payable and accrued expenses | $17,933 |
| 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 | $17,933 |
| Net assets without donor restrictions | $512,822 |
| Net assets with donor restrictions | $1,066,464 |
| 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 | $1,597,219 |
Grants Awarded
Over the last fiscal year, Korner Gift Shop has awarded $119,642 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Raleigh, NC PURPOSE: General Support/Scholarship | $119,642 |
Endowment Analysis
| Beg. Balance | $859,563 |
| Earnings | $241,666 |
| Admin Expense | $4,765 |
| Other Expense | $10,000 |
| Grants | $20,000 |
| Ending Balance | $1,066,464 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Intrahealth International Inc Chapel Hill, NC | $25,698,138 | $95,131,742 |
Moses Cone Medical Services Inc Greensboro, NC | $66,450,127 | $85,429,043 |
Sheet Metal Workers National Health Fund Goodlettsville, TN | $59,855,607 | $61,652,205 |
Corvesta Inc Roanoke, VA | $82,180,783 | -$1,235,003 |
Inova Health System Foundation Fairfax, VA | $6,680,265,525 | $824,217,139 |
Carolina Medicorp Enterprises Llc Winston Salem, NC | $11,898,708 | $46,315,888 |
Childrens Health System Inc Norfolk, VA | $122,433,385 | $34,959,405 |
Fauquier Health Foundation Warrenton, VA | $249,193,841 | $9,571,718 |
Chesapeake Regional Medical Group Chesapeake, VA | $4,557,734 | $12,231,172 |
North Carolina Agricultural Foundation Inc Raleigh, NC | $248,209,354 | $30,308,869 |
Mid-South Carp Regional Council Health & Welfare Fund Goodlettsville, TN | $42,702,855 | $23,372,218 |
Childrens Hospital And Healthcare Services Foundation Richmond, VA | $253,228,925 | $70,265,641 |