Winston-Salem Foundation
- Assets
- $629.2m
- Revenue
- $62.2m
- Investments
- $254.1m
- Employees
- 32
- Location
- Winstonsalem, NC
- Founding
- 07/1946
- Data as of
- 12/2022
- EIN
- 56-6037615
Organization Overview
Winston-Salem Foundation is located in Winstonsalem, NC. The organization was established in 1946. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Winston-Salem Foundation employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Winston-Salem 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 12/2022, Winston-Salem Foundation generated $62.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $84.3m during the year ending 12/2022. While expenses have increased by 6.6% per year over the past 4 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 2019, Winston-Salem Foundation has awarded 3,406 individual grants totaling $330,102,141. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY FOUNDATION (SEE P.2, FORM 990, PART III FOR ADDITIONAL INFORMATION)
Describe the Organization's Program Activity:
GRANT PROGRAM - ADMINISTERING APPROXIMATELY 1,040 ENDOWED FUNDS AND 570 TEMPORARY FUNDS AS WELL AS PROVIDING ADVISORY SERVICES FOR THE BENEFIT OF VARIOUS CULTURAL, EDUCATIONAL, HEALTH, SOCIAL, AND RELIGIOUS ORGANIZATIONS IN THE COMMUNITY. INCLUDES SCHOLARSHIPS PRIMARILY TO FORSYTH COUNTY RESIDENTS UPON APPROVAL BY AN ADVISORY COMMITTEE UNDER THE FOUNDATION'S GUIDANCE.
FOCUSED INITIATIVES TO INCREASE PHILANTHROPY AMONG AFRICAN-AMERICANS, WOMEN, AND YOUTH. ADVISORY COMMITTEES AND GIVING CIRCLES UTILIZED TO PROMOTE PHILANTHROPY AND TO AWARD GRANTS DEEMED APPLICABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alison Ashe-Card Chair | OfficerTrustee | 1 | $0 |
Evelyn Acree Treasurer/committee Mem. | OfficerTrustee | 1 | $0 |
Joe Crocker Secretary/committee Member | OfficerTrustee | 1 | $0 |
Wendy Brenner Committee Member | Trustee | 1 | $0 |
Josh Crane Committee Member | Trustee | 1 | $0 |
Matt Cullinan Committee Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fund Evaluation Group Investment Consulting | 12/30/22 | $190,930 |
Tight Line Partners Llc Office Rent | 12/30/22 | $437,834 |
Northeast Retirement Services Endowment Unitization | 12/30/22 | $159,325 |
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 | $44,208,653 |
| Noncash contributions included in lines 1a–1f | $10,930,949 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,208,653 |
| Total Program Service Revenue | $28,118 |
| Investment income | $12,044,183 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,919,127 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,200,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,970,256 |
| Grants and other assistance to domestic individuals. | $1,727,684 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,014,620 |
| Compensation of current officers, directors, key employees. | $493,165 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,107,614 |
| Pension plan accruals and contributions | $184,348 |
| Other employee benefits | $293,920 |
| Payroll taxes | $199,743 |
| Fees for services: Management | $5,279 |
| Fees for services: Legal | $41,397 |
| Fees for services: Accounting | $45,000 |
| Fees for services: Lobbying | $14,100 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,723,298 |
| Fees for services: Other | $159,325 |
| Advertising and promotion | $147,246 |
| Office expenses | $108,563 |
| Information technology | $236,108 |
| Royalties | $0 |
| Occupancy | $437,834 |
| Travel | $2,022 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $209,697 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $34,583 |
| All other expenses | $215,790 |
| Total functional expenses | $84,263,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,089,275 |
| 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 | $100,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,324,790 |
| Investments—publicly traded securities | $334,767,463 |
| Investments—other securities | $254,052,424 |
| Investments—program-related | $71,779 |
| Intangible assets | $0 |
| Other assets | $785,791 |
| Total assets | $629,191,522 |
| Accounts payable and accrued expenses | $3,138 |
| 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 | $2,930,971 |
| Total liabilities | $2,934,109 |
| Net assets without donor restrictions | $626,257,413 |
| 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 | $629,191,522 |
Grants Awarded
Over the last fiscal year, Winston-Salem Foundation has awarded $73,218,009 in support to 728 organizations.
| Grant Recipient | Amount |
|---|---|
18 SPRINGS COMMUNITY HEALING CENTER PURPOSE: 5 GRANT(S) FOR VARYING PURPOSES | $14,912 |
885 FMWFDD PUBLIC RADIO PURPOSE: 54 GRANT(S) FOR VARYING PURPOSES | $43,040 |
40 STAGE COMPANY PURPOSE: 4 GRANT(S) FOR VARYING PURPOSES | $5,600 |
APERTURE CINEMA PURPOSE: 21 GRANT(S) FOR VARYING PURPOSES | $48,395 |
ABC OF NC FOUNDATION PURPOSE: 41 GRANT(S) FOR VARYING PURPOSES | $258,675 |
ACCESS FUND PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $20,000 |