Winston-Salem Foundation
- Assets
- $588.2m
- Revenue
- $114.6m
- Investments
- $245.0m
- Employees
- 31
- Location
- Winstonsalem, NC
- Founding
- 07/1946
- Data as of
- 12/2020
- 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 12/2021, Winston-Salem Foundation employed 31 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 12/2020, Winston-Salem Foundation generated $114.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.1% each year . All expenses for the organization totaled $131.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Winston-Salem Foundation has awarded 2,678 individual grants totaling $256,884,132. 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
2020
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:
Part 3 - Line 4a
GRANT PROGRAM - ADMINISTERING APPROXIMATELY 1,000 ENDOWED FUNDS AND 580 TEMPORARY FUNDS AS WELL AS PROVIDING ADVISORY SERVICES FOR THE BENEFIT OF VARIOUS CULTURAL, EDUCATIONAL, HEALTH, SOCIAL, AND RELIGIOUS ORGANIZATIONS IN THE COMMUNITY.
STUDENT AID PROGRAM - PROVIDES SCHOLARSHIPS PRIMARILY TO FORSYTH COUNTY RESIDENTS) UPON APPROVAL BY AN ADVISORY COMMITTEE UNDER THE FOUNDATION'S GUIDANCE. ALSO ADMINISTER SOME STUDENT LOANS WHICH ARE BEING CONVERTED TO SCHOLARSHIP FUNDS AS REPAYMENTS ARE RECEIVED.
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. FOCUSED INITITAIVES TO SUPPORT (1) COMMUNITY DEVELOPMENT COLLABORATIVES AND (2) YOUTH TRANSITIONING FROM ORPHANAGES INTO SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa P Purcell Executive Vice President | Officer | 40 | $255,319 |
J Todd Slate Vp, Finance & Administrati | Officer | 40 | $168,718 |
Annette P Lynch Vp, Philanthropic Services | Officer | 40 | $137,591 |
Brittney J Gaspari Vp, Community Investment | 40 | $116,287 | |
D Patrick Meehan Director, Information Tech | 40 | $112,353 | |
Andrea M Hulighan Director, Strategic Initia | 40 | $110,506 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tight Line Partners Llc Office Rent | 12/30/21 | $431,346 |
Fund Evaluation Group Investment Consulting | 12/30/21 | $192,457 |
Northeast Retirement Services Endowment Unitization | 12/30/21 | $122,225 |
Forvis Accounting And Tax Preparation | 12/30/21 | $100,913 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,175,696 |
| Investment income | $8,154,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $643,889 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $114,585,898 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,272,973 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $871,263 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,636,264 |
| Pension plan accruals and contributions | $139,971 |
| Other employee benefits | $260,042 |
| Payroll taxes | $160,190 |
| Fees for services: Management | $5,947 |
| Fees for services: Legal | $67,137 |
| Fees for services: Accounting | $44,727 |
| Fees for services: Lobbying | $10,200 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,299,872 |
| Fees for services: Other | $116,990 |
| Advertising and promotion | $127,235 |
| Office expenses | $88,388 |
| Information technology | $213,162 |
| Royalties | $0 |
| Occupancy | $461,626 |
| Travel | $357 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,594 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $23,823 |
| All other expenses | $0 |
| Total functional expenses | $131,728,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $58,617,775 |
| 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 | $472,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $277,573,918 |
| Investments—other securities | $245,002,734 |
| Investments—program-related | $167,714 |
| Intangible assets | $0 |
| Other assets | $1,042,616 |
| Total assets | $588,201,555 |
| Accounts payable and accrued expenses | $3,040 |
| 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 | $3,484,251 |
| Total liabilities | $3,487,291 |
| 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 |
| Total liabilities and net assets/fund balances | $584,714,264 |
Grants Awarded
Over the last fiscal year, Winston-Salem Foundation has awarded $76,995,747 in support to 710 organizations.
| Grant Recipient | Amount |
|---|---|
Charlotte, NC PURPOSE: 2 GRANT(S) FOR VARYING PURPOSES | $3,000,100 |
WINSTON-SALEMFORSYTH COUNTY SCHOOLS PURPOSE: 46 GRANT(S) FOR VARYING PURPOSES | $2,666,913 |
Boston, MA PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $2,200,000 |
Winstonsalem, NC PURPOSE: 167 GRANT(S) FOR VARYING PURPOSES | $2,049,004 |
Washington, DC PURPOSE: 2 GRANT(S) FOR VARYING PURPOSES | $2,000,000 |
Raleigh, NC PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $2,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Winston-Salem Foundation has recieved totaling $1,604,061.
| Awarding Organization | Amount |
|---|---|
Reynolds American Foundation Winston Salem, NC PURPOSE: PROJECT IMPACT | $625,000 |
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC PURPOSE: OPERATIONAL SUPPORT | $200,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $200,000 |
Flow Foundation Inc Winstonsalem, NC PURPOSE: COMMUNITY INVOLVEMENT PROGRAMS | $100,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $91,300 |
North Carolina Baptist Hospital Winstonsalem, NC PURPOSE: SUPPORTING THE PROJECT IMPACT FUND | $83,333 |
Endowment Analysis
| Beg. Balance | $425,467,477 |
| Earnings | $56,403,162 |
| Admin Expense | $4,533,202 |
| Net Contributions | $46,813,829 |
| Grants | $32,578,619 |
| Ending Balance | $491,572,647 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For The Carolinas Charlotte, NC | $2,909,768,326 | $770,296,528 |
Community Foundation Of Greater Memphis Inc Memphis, TN | $924,315,630 | $239,424,580 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA | $1,342,201,584 | $352,758,843 |
Winston-Salem Foundation Winstonsalem, NC | $588,201,555 | $114,585,898 |
The Community Fdn Of Middle Tn Inc Nashville, TN | $564,381,158 | $154,729,330 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN | $205,748,037 | $85,831,682 |
The Community Foundation Inc Richmond, VA | $859,349,771 | $152,790,051 |
Charlottesville Area Community Foundation Charlottesville, VA | $339,690,669 | $77,610,040 |
North Carolina Community Foundation Inc Raleigh, NC | $442,779,010 | $109,848,330 |
Hampton Roads Community Foundation Norfolk, VA | $431,066,210 | $16,919,172 |
Triangle Community Foundation Durham, NC | $302,593,887 | $28,260,487 |
Coastal Community Foundation Of South Carolina Inc N Charleston, SC | $293,333,431 | $80,143,972 |