Outer Banks Community Foundation Inc
- Assets
- $25.9m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 8
- Location
- Southern Shores, NC
- Founding
- 08/1983
- Data as of
- 12/2021
- EIN
- 58-1516313
Organization Overview
Outer Banks Community Foundation Inc is located in Southern Shores, NC. The organization was established in 1983. 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, Outer Banks Community Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Outer Banks Community 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 12/2021, Outer Banks Community Foundation Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 7.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION HELPS MEET LOCAL NEEDS BY MANAGING CHARITABLE FUNDS FOR INDIVIDUALS AND AGENCIES AND BY TARGETING GRANTS AND SCHOLARSHIPS TOWARD OUR COMMUNITY'S MOST PRESSING NEEDS AND MOST PROMISING OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS THE VENTURE CAPITALIST OF THE LOCAL CHARITABLE SECTOR, SUPPORTING THE OUTER BANKS'S MOST EXCITING PROJECTS AND MOST URGENT NEEDS, AND HELPING LOCAL STUDENTS OF ALL AGES ACHIEVE THEIR EDUCATIONAL GOALS. THE FOUNDATION IS THE ONLY FUNDING SOURCE THAT REACHES ALL TYPES OF CHARITIES ACROSS THE OUTER BANKS, SUPPORTING PROGRAMS IN THE ARTS, EDUCATION, PUBLIC SAFETY, HEALTH AND HUMAN SERVICES, DISASTER RELIEF, COVID RESPONSE, HISTORIC PRESERVATION, THE ENVIRONMENT,AND ANIMAL SERVICES. THE FOUNDATION AWARDED MORE THAN 1,139,000 IN GRANTS AND SCHOLARSHIPS IN 2021 TO 69 NONPROFITS AND 51 LOCAL STUDENTS. SOME GRANTS AWARDED IN 2021 WILL BE PAID IN FUTURE YEARS, ON A REIMBURSEMENT BASIS AS PROJECTS PROGRESS. OVER 709,000 IN GRANTS AND OVER 164,000 IN SCHOLARSHIPS WERE PAID IN 2021.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Sawin President & | OfficerTrustee | 40 | $34,615 |
Robert Muller Interim Exec | OfficerTrustee | 40 | $22,852 |
Loreli Costa Executive Di | OfficerTrustee | 40 | $21,588 |
Jane Webster Vice Chair | OfficerTrustee | 5 | $0 |
Pat Regan Treasurer | OfficerTrustee | 4 | $0 |
Clark Twiddy Chair | OfficerTrustee | 10 | $0 |
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 | $1,291,557 |
| Noncash contributions included in lines 1a–1f | $166,956 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,291,557 |
| Total Program Service Revenue | $0 |
| Investment income | $358,336 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $388,744 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,038,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $709,676 |
| Grants and other assistance to domestic individuals. | $164,728 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $79,056 |
| Compensation of current officers, directors, key employees. | $37,243 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $148,718 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,169 |
| Payroll taxes | $17,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,619 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,665 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,004 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,877 |
| Insurance | $1,683 |
| All other expenses | $7,140 |
| Total functional expenses | $1,318,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,269 |
| Savings and temporary cash investments | $694,206 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $715 |
| 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 | $0 |
| Net Land, buildings, and equipment | $283,675 |
| Investments—publicly traded securities | $24,802,502 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,924,367 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,850,190 |
| 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 | $1,850,190 |
| Net assets without donor restrictions | $22,082,890 |
| Net assets with donor restrictions | $1,991,287 |
| 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 | $25,924,367 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Outer Banks Community Foundation Inc has recieved totaling $59,672.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $58,850 |
Klein G & Mary Lee Leister Foundation Inc Towson, MD PURPOSE: CONTRIBUTION | $350 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $147 |
Jean R D And Betty Rae Hecht Charitable Foundation Inc Toms River, NJ PURPOSE: TO CARRY OUT CHARITABLE PURPOSE OF THE FOUNDATION | $100 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $85 |
Endowment Analysis
| Beg. Balance | $1,474,285 |
| Earnings | $233,910 |
| Net Contributions | $11,099 |
| Grants | $56,121 |
| Ending Balance | $1,653,173 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation Of Greenville Inc Greenville, SC | $110,749,055 | $32,278,412 |
Spartanburg County Foundation Spartanburg, SC | $213,613,348 | $29,550,562 |
North Georgia Community Foundation Gainesville, GA | $121,312,465 | $29,287,202 |
The Community Foundation Of Harrisonburg And Rockingham County Harrisonburg, VA | $68,152,988 | $23,085,179 |
Central Carolina Community Foundation Columbia, SC | $200,312,368 | $26,646,536 |
Community Foundation Of The Chattahoochee Valley Inc Columbus, GA | $203,858,921 | $35,593,899 |
High Point Community Foundation High Point, NC | $114,170,503 | $14,778,667 |
Community Foundation Of Central Georgia Inc Macon, GA | $156,226,670 | $20,534,365 |
Community Foundation For Northeast Georgia Inc Duluth, GA | $80,665,782 | $22,483,820 |
Community Foundation Of The Lowcountry Inc Hilton Head Island, SC | $73,666,667 | $27,497,262 |
The Community Foundation For Northern Virginia Inc Oakton, VA | $80,161,408 | $23,451,822 |
National Christian Charitable Foundation Inc Fort Mill, SC | $16,300,322 | $10,862,004 |