Foundation For The Carolinas is located in Charlotte, NC. The organization was established in 1962. 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, Foundation For The Carolinas employed 166 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Carolinas 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, Foundation For The Carolinas generated $770.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $584.9m during the year ending 12/2021. While expenses have increased by 10.1% 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.
Since 2016, Foundation For The Carolinas has awarded 7,405 individual grants totaling $1,887,971,845. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDATION FOR THE CAROLINAS IS A NON-PROFIT COMMUNITY FOUNDATION SERVING DONORS AND A BROAD RANGE OF CHARITABLE PURPOSES IN NORTH AND SOUTH CAROLINA THROUGH GRANTMAKING AND CIVIC LEADERSHIP.
Describe the Organization's Program Activity:
HEALTH AND HUMAN SERVICES: DISBURSED 4,194 GRANTS TO VARIOUS ORGANIZATIONS OFFERING SERVICES FOR SENIORS, YOUTH DEVELOPMENT, HOUSING AND SHELTER, AND OTHER COMMUNITY NEEDS.
EDUCATION AND YOUTH DEVELOPMENT: DISBURSED 4,338 GRANTS TO VARIOUS ORGANIZATIONS FOR SCHOLARSHIP PROGRAMS, EDUCATIONAL INSTITUTIONS, AND OTHER CURRICULUM PROGRAMS.
ENVIRONMENT AND WILDLIFE: DISBURSED 693 GRANTS TO VARIOUS ORGANIZATIONS TO SUPPORT ENVIRONMENTAL EFFORTS OF CONSERVATION, EDUCATION, AND OTHER PROJECTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michael Marsicano President & CEO | Officer | 50 | $765,136 |
Holly K Welch Executive Vice President | Officer | 50 | $426,274 |
Laura Smith Executive Vice President | Officer | 50 | $413,043 |
Nikhil Sawant Evp And Cio | Officer | 50 | $391,644 |
David B Collier Executive Vice President | Officer | 50 | $354,299 |
Debra S Watt Evp & Chro | Officer | 50 | $298,490 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
James L Kiser Legal | 12/30/21 | $268,410 |
Kpmg Llp Accounting | 12/30/21 | $1,609,568 |
Capital Access Strategies Llc Financial Services | 12/30/21 | $371,000 |
Optomi Llc Professional Services | 12/30/21 | $197,019 |
Jill Van Beke Consulting Services | 12/30/21 | $241,949 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $4,000 |
Related organizations | $49,047,594 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $621,960,150 |
Noncash contributions included in lines 1a–1f | $468,995,730 |
Total Revenue from Contributions, Gifts, Grants & Similar | $671,011,744 |
Total Program Service Revenue | $30,750,217 |
Investment income | $5,668,344 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $21,716 |
Net Gain/Loss on Asset Sales | $62,853,938 |
Net Income from Fundraising Events | -$9,431 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $770,296,528 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $465,416,495 |
Grants and other assistance to domestic individuals. | $58,407,384 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,648,885 |
Compensation of current officers, directors, key employees. | $1,361,527 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $10,196,366 |
Pension plan accruals and contributions | $1,461,725 |
Other employee benefits | $1,922,972 |
Payroll taxes | $814,658 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,848,815 |
Fees for services: Accounting | $156,521 |
Fees for services: Lobbying | $36,000 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $5,774,144 |
Fees for services: Other | $23,918,524 |
Advertising and promotion | $596,276 |
Office expenses | $42,639 |
Information technology | $5,884,997 |
Royalties | $0 |
Occupancy | $987,519 |
Travel | $13,358 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $27,124 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $10,304 |
Insurance | $311,032 |
All other expenses | $1,121,056 |
Total functional expenses | $584,919,704 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $60,998,527 |
Pledges and grants receivable | $36,498,695 |
Accounts receivable, net | $372,505,339 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $16,117,144 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $18,724 |
Net Land, buildings, and equipment | $5,030,439 |
Investments—publicly traded securities | $2,399,897,558 |
Investments—other securities | $19,480 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $18,682,420 |
Total assets | $2,909,768,326 |
Accounts payable and accrued expenses | $7,965,783 |
Grants payable | $77,008,985 |
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 | $84,974,768 |
Net assets without donor restrictions | $1,848,856,616 |
Net assets with donor restrictions | $975,936,942 |
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 | $2,909,768,326 |
Over the last fiscal year, Foundation For The Carolinas has awarded $400,463,161 in support to 1,598 organizations.
Grant Recipient | Amount |
---|---|
Charlottesville, VA PURPOSE: CHARITABLE GIFT | $42,564,300 |
Salisbury, NC PURPOSE: CHARITABLE GIFT | $40,669,581 |
Charlotte, NC PURPOSE: CHARITABLE GIFT | $15,684,406 |
Boulder, CO PURPOSE: CHARITABLE GIFT | $14,101,000 |
San Francisco, CA PURPOSE: CHARITABLE GIFT | $14,066,750 |
Charlotte, NC PURPOSE: CHARITABLE GIFT | $9,955,709 |
Over the last fiscal year, we have identified 1 grants that Foundation For The Carolinas has recieved totaling $29,000.
Awarding Organization | Amount |
---|---|
Wilson Memorial Scholarship Fund Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $29,000 |
Beg. Balance | $656,677,553 |
Earnings | $95,116,123 |
Admin Expense | $5,935,057 |
Net Contributions | $218,348,764 |
Grants | $26,535,077 |
Ending Balance | $937,672,306 |
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 |