Rock Corner Foundation Inc
- Assets
- $443.5k
- Revenue
- $62.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Forest City, NC
- Founding
- 12/2017
- Data as of
- 11/2021
- EIN
- 81-4489379
Organization Overview
Rock Corner Foundation Inc is located in Forest City, NC. The organization was established in 2017. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Rock Corner 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 11/2021, Rock Corner Foundation Inc generated $62.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (25.3%) each year. All expenses for the organization totaled $30.5k during the year ending 11/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAMARITIANS PURSE
MT VERNON BAPTIST CHURCH
YOUNG LIFE
NEW SPING CHURCH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas R Carpenter V-President | 0 | $0 | |
Tammy W Carpenter President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $11,976 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $61,976 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $416 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $416 |
| Contributions, gifts, grants paid | $30,050 |
| Total expenses and disbursements | $30,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,605 |
| Savings and temporary cash investments | $382,924 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $443,529 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Rock Corner Foundation Inc has awarded $30,050 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Anderson, SC PURPOSE: GENERAL OPERATIONS | $10,000 |
Boone, NC PURPOSE: GENERAL OPERATIONS | $5,000 |
MT VERNON BAPTIST CHURCH PURPOSE: GENERAL OPERATIONS | $3,000 |
YOUNG LIFE PURPOSE: GENERAL OPERATIONS | $2,200 |
2ND BAPTIST CHURCH PURPOSE: GENERAL OPERATIONS | $2,000 |
SHARING GOD'S LIGHT PURPOSE: GENERAL OPERATIONS | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |
Goodnight Educational Foundation Cary, NC | $149,468,750 | $4,782,379 |
Foundation For A Better World Inc Marietta, GA | $167,606,554 | $6,349,362 |
Reinhart Foundation Richmond, VA | $39,727,277 | $36,137,915 |
Charis Foundation Knoxville, TN | $16,682,566 | $7,998,986 |
Skeebo Foundation Charlotte, NC | $58,827,572 | $60,108,534 |
Darnall W Boyd Foundation Inc Columbia, SC | $0 | $6,239,520 |
Grizzard Family Foundation Inc Stone Mountain, GA | $7,597,688 | $166,630 |
Oak Hill Fund Charlottesville, VA | $99,384,131 | $7,166,197 |
Spring Foundation Inc Atlanta, GA | $104,160,284 | -$7,184,259 |
The Williams Brice Edwards Charitable Trust Sumter, SC | $57,951,375 | $6,028,487 |
The Scott Hudgens Family Foundation Inc Duluth, GA | $0 | $7,703,530 |