Gaston Community Foundation
- Assets
- $120.1m
- Revenue
- $14.0m
- Investments
- $22.8m
- Employees
- 9
- Location
- Gastonia, NC
- Founding
- 05/1979
- Data as of
- 12/2022
- EIN
- 58-1340834
Organization Overview
Gaston Community Foundation is located in Gastonia, NC. The organization was established in 1979. 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, Gaston Community Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gaston Community 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, Gaston Community Foundation generated $14.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $7.2m during the year ending 12/2022. While expenses have increased by 3.5% per year over the past 6 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, Gaston Community Foundation has awarded 1,071 individual grants totaling $41,180,607. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
GASTON COMMUNITY FOUNDATION IS THE PRIMARY STEWARD OF PHILANTHROPIC GIVING BY CONNECTING DONORS WITH COMMUNITY NEEDS TO ENHANCE THE LIVES OF PRESENT AND FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1978, GASTON COMMUNITY FOUNDATION HAS BEEN HELPING DONORS FULFILL THEIR PHILANTHROPIC DREAMS. INDIVIDUALS, FAMILIES, AND ORGANIZATIONS ESTABLISH FUNDS AT THE GASTON COMMUNITY FOUNDATION TO CARRY OUT THEIR CHARITABLE GIVING NOW AND IN THE FUTURE. WITH OVER 400 FUNDS UNDER MANAGEMENT, THE FOUNDATION ASSISTS DONORS WITH PLANNED GIVING OPTIONS FOR A CHARITABLE LEGACY, INCLUDING UNRESTRICTED FUNDS, FUNDS DESIGNATED FOR A SPECIFIC CHARITABLE ORGANIZATION OR FIELD OF INTEREST AS WELL AS MANY ADVISED FUNDS WHERE THE INDIVIDUAL OR CORPORATE DONOR CAN RECOMMEND GRANTS FOR A VARIETY OF COMMUNITY CAUSES.
GASTON COMMUNITY FOUNDATION MAKES UNRESTRICTED GRANTS TO ORGANIZATIONS AND PROGRAMS OPERATING IN GASTON COUNTY OR PRIMARILY FOR THE BENEFIT OF GASTON COUNTY CITIZENS THROUGH AN ANNUAL COMPETITIVE GRANT APPLICATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Paschall Board Chair | OfficerTrustee | 1 | $0 |
David Rogers Board Vice C | OfficerTrustee | 1 | $0 |
John Mcgill Secretary/tr | OfficerTrustee | 1 | $0 |
Andy Warlick Investment C | OfficerTrustee | 1 | $0 |
Gayle Kersh Development | OfficerTrustee | 1 | $0 |
May Robinson Grants Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shelco Inc Construction | 12/30/22 | $6,847,620 |
Alfred Williams & Co | 12/30/22 | $321,435 |
Ics | 12/30/22 | $232,506 |
Rouse & Associates Inc | 12/30/22 | $145,350 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,000,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,624,302 |
| Noncash contributions included in lines 1a–1f | $1,030,321 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,624,302 |
| Total Program Service Revenue | $232,109 |
| Investment income | $2,324,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$254,408 |
| Net Gain/Loss on Asset Sales | $59,004 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,988,192 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,757,213 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $183,146 |
| Compensation of current officers, directors, key employees. | $54,944 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $351,625 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,317 |
| Payroll taxes | $38,784 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,772 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $103,779 |
| Fees for services: Other | $0 |
| Advertising and promotion | $59,433 |
| Office expenses | $28,181 |
| Information technology | $29,300 |
| Royalties | $0 |
| Occupancy | $40,500 |
| Travel | $1,179 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $149,537 |
| Interest | $16,553 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $164,867 |
| Insurance | $16,099 |
| All other expenses | $5,313 |
| Total functional expenses | $7,152,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,644,141 |
| Savings and temporary cash investments | $2,674,506 |
| Pledges and grants receivable | $3,509,155 |
| Accounts receivable, net | $134,853 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,554 |
| Net Land, buildings, and equipment | $8,952,748 |
| Investments—publicly traded securities | $79,918,550 |
| Investments—other securities | $22,772,813 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $418,128 |
| Total assets | $120,059,448 |
| Accounts payable and accrued expenses | $52,410 |
| Grants payable | $688,986 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $27,706,671 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,755,703 |
| Other liabilities | $1,157,479 |
| Total liabilities | $32,361,249 |
| Net assets without donor restrictions | $62,406,859 |
| Net assets with donor restrictions | $25,291,340 |
| 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 | $120,059,448 |
Grants Awarded
Over the last fiscal year, Gaston Community Foundation has awarded $5,753,878 in support to 168 organizations.
| Grant Recipient | Amount |
|---|---|
AFRICAN AMERICAN MUSEUM OF HISTORY PURPOSE: GENERAL SUPPORT | $15,000 |
AMERICAN LEGION POST 23 PURPOSE: GENERAL SUPPORT | $6,804 |
ANIMAL LEAGUE OF GASTON COUNTY PURPOSE: GENERAL SUPPORT | $51,057 |
AMERICAN RED CROSS BLUE RIDGE PURPOSE: GENERAL SUPPORT | $7,500 |
APPLACHIAN STATE UNIVERSITY PURPOSE: GENERAL SUPPORT | $18,955 |
ARIN'S GOOD GIRL DOG TREATS PURPOSE: GENERAL SUPPORT | $7,500 |