Heritage Classic Foundation

Organization Overview

Heritage Classic Foundation is located in Hilton Head Island, SC. The organization was established in 1989. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Heritage Classic Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Classic 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, Heritage Classic Foundation generated $11.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $11.0m during the year ending 12/2022. While expenses have increased by 0.4% per year over the past 8 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 2015, Heritage Classic Foundation has awarded 706 individual grants totaling $18,576,535. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE HERITAGE CLASSIC FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO DISTRIBUTE THE NET PROFITS FROM A PGA TOUR EVENT TO LOCAL AND STATEWIDE CHARITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE PRIMARY MISSION OF THE HERITAGE CLASSIC FOUNDATION IS ACCOMPLISHED BY OPERATING A PGA TOUR SANCTIONED GOLF TOURNAMENT KNOWN AS THE RBC HERITAGE PRESENTED BY BOEING. THE NET PROCEES FROM THE TOURNAMENT PLAYED AT THE HARBOUR TOWN GOLF LINKS, HILTON HEAD ISLAND, SC ARE USED TO MAKE DISTRIBUTIONS TO OTHER NOT-FOR-PROFIT ORGANIZATIONS THROUGH GRANT DISTRIBUTIONS AND SCHOLARSHIPS.


THE CHAMPIONS FORE CHARITY AND BIRDIES FOR CHARITY ARE PROGRAMS WE HAVE TO ENCOURAGE DONATIONS TO LOCAL CHARITABLE ORGANIZATIONS WHEREIN OUR ORGANIZATION SUPPLEMENTS THOSE DONATIONS FOR THE BENEFIT OF OTHER SPECIFIC NOT-FOR-PROFIT ORGANIZATIONS.


OUR TARTAN CLUB PROGRAM SUPPORTS THE HERITAGE CLASSIC FOUNDATION'S SCHOLAR PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Derek R Paton
VP Sales & Marketing
$271,132
Stephen J Wilmot
President & CEO
$234,185
James M Ivester
Director Of Corporate Sales
$131,626
Morgan Hyde
VP Operations
$103,724
Richard P Reichel
Treasurer
$24,000
J Simon Fraser
Chairman
$18,000

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$1,968,819
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,968,819
Total Program Service Revenue$9,372,075
Investment income -$281,696
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $11,355,325

Grants Awarded

Over the last fiscal year, Heritage Classic Foundation has awarded $2,110,728 in support to 61 organizations.

Grant RecipientAmount

HILTON HEAD SYMPHONY ORCH

Org PageRecipient Profile

Hilton Head Island, SC

PURPOSE: GENERAL FUND

$187,941

SOUTH COASTAL FCA

Org PageRecipient Profile

Kansas City, MO

PURPOSE: GENERAL FUND

$134,616

Hilton Head Island, SC

PURPOSE: GENERAL FUND

$125,221

ARTS CENTER OF COASTAL CAROLI

Org PageRecipient Profile

Hilton Head Island, SC

PURPOSE: GENERAL FUND

$120,952

MITCHELLVILLE PRESERVATION

Org PageRecipient Profile

Hilton Head Island, SC

PURPOSE: GENERAL FUND

$102,123

TECHNICAL COLLEGE SYSTEM

Org PageRecipient Profile

Hilton Head, SC

PURPOSE: GENERAL FUND

$100,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Heritage Classic Foundation has recieved totaling $7,200.

Awarding OrganizationAmount
Julia Porter Scurry Family Foundation

Greenwood, SC

PURPOSE: TO BENENFIT CHARITABLE CAUSES

$6,200
Charles M Grant Foundation

Cincinnati, OH

PURPOSE: DONATION

$1,000
View Grant Recipient Profile

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