Stonecutter Foundation Inc
- Assets
- $9.1m
- Revenue
- $1.6m
- Investments
- $7.3m
- Employees
- 0
- Location
- Spindale, NC
- Founding
- 12/1944
- Data as of
- 03/2022
- EIN
- 56-6044820
Organization Overview
Stonecutter Foundation Inc is located in Spindale, NC. The organization was established in 1944. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Stonecutter 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 03/2022, Stonecutter Foundation Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $700.0k during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Stonecutter Foundation Inc has awarded 67 individual grants totaling $1,674,284. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri C Barringer Executive Di | 0 | $93,650 | |
Dr Dillard Morrow President | 0 | $0 | |
James R Cowan VP & Treasur | 0 | $0 | |
Myra H Cowan Secretary | 0 | $0 | |
Tiffany Lathan Director | 0 | $0 | |
Carolyn Keever Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $21,000 |
| Interest on Savings | $81 |
| Dividends & Interest | $211,503 |
| Net Rental Income | $26,989 |
| Net Gain on Sale of Assets | $1,333,196 |
| Capital Gain Net Income | $1,333,196 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $48,217 |
| Total Revenue | $1,644,042 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $93,650 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $9,359 |
| Interest | $0 |
| Taxes | $22,850 |
| Depreciation | $4,488 |
| Occupancy | $812 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $33,597 |
| Total operating and administrative expenses | $173,532 |
| Contributions, gifts, grants paid | $526,476 |
| Total expenses and disbursements | $700,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,394 |
| Savings and temporary cash investments | $879,164 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $35,654 |
| Net Land, buildings, and equipment | $899,353 |
| Other assets | $0 |
| Total assets | $9,064,036 |
| Accounts payable and accrued expenses | $3,968 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,968 |
Grants Awarded
Over the last fiscal year, Stonecutter Foundation Inc has awarded $526,476 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
RUTHERFORD COUNTY HABITAT FOR HUMAN PURPOSE: COMMUNITY | $147,900 |
Rutherfordton, NC PURPOSE: COMMUNITY | $80,676 |
KIDSENSES CHILDREN'S MUSEUM PURPOSE: COMMUNITY | $50,000 |
KIDSENSES CHILDREN'S MUSEUM PURPOSE: EDUCATION | $50,000 |
Asheville, NC PURPOSE: EDUCATION | $50,000 |
Rutherfordton, NC PURPOSE: EDUCATION | $45,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |