Alamance Community Foundation
- Assets
- $19.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Burlington, NC
- Founding
- 08/2018
- Data as of
- 12/2022
- EIN
- 82-3275373
Organization Overview
Alamance Community Foundation is located in Burlington, NC. The organization was established in 2018. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Alamance Community Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alamance 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, Alamance Community Foundation generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (32.1%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Alamance Community Foundation has awarded 135 individual grants totaling $3,321,886. 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
THE ALAMANCE COMMUNITY FOUNDATION IS A CHARITABLE ORGANIZATION DEDICATED TO STRENGTHENING ALAMANCE COUNTY FOR PRESENT AND FUTURE GENERATIONS THROUGH PHILANTHROPY. WORKING TOWARD A VISION OF AN INCLUSIVE, CARING AND VIBRANT COMMUNITY, THE COMMUNITY FOUNDATION FACILITATES GIVING THAT IMPROVES LIVES IN THE COMMUNITY, MAINTAINS PERMANENT ENDOWMENT FUNDS, AND PARTNERS WITH DONORS TO SHAPE EFFECTIVE RESPONSES TO COMMUNITY ISSUES AND OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR-ADVISED AND SCHOLARSHIP FUNDS: THE COMMUNITY FOUNDATION MANAGES 30 DONOR-ADVISED FUNDS AND 19 SCHOLARSHIP FUNDS WHICH ENABLE RESIDENTS OF ALAMANCE COUNTY TO ACHIEVE THEIR INDIVIDUAL CHARITABLE GOALS. DURING 2022, 219 GRANTS AND SCHOLARSHIPS TOTALING $678,822.83 WERE DISBURSED IN SUPPORT OF FAITH-BASED, HEALTH AND HUMAN SERVICE, EDUCATIONAL, AND OTHER COMMUNITY SERVICE ORGANIZATIONS.
FIELD OF INTEREST FUNDS: THE COMMUNITY FOUNDATION MANAGES ENDOWED AND UNRESTRICTED GRANT FUNDS WHICH ARE USED TO STRENGTHEN ITS COMMUNITY FOR PRESENT AND FUTURE GENERATIONS. FOCUS AREAS FOR 2022 WERE PROGRAM/PROJECT-BASED FUNDING IN THE AREAS OF EDUCATION, HEALTH AND HUMAN SERVICE, YOUTH PROGRAMMING AND THE ARTS.
DESIGNATED AND ORGANIZATION ENDOWMENT FUNDS: AREA RESIDENTS HAVE CREATED FUNDS TO SUPPORT SPECIFIC NONPROFIT ORGANIZATIONS. DURING 2022, 12 SPECIAL INTEREST ENDOWMENT FUNDS GRANTED $120,755 TO THEIR BENEFICIARY ORGANIZATIONS. IN ADDITION, THE COMMUNITY FOUNDATION MANAGES THE ENDOWMENT FUNDS OF LOCAL NONPROFIT ORGANIZATIONS (A TOTAL OF 27 FUNDS IN 2022). ACCORDINGLY, THE FOUNDATION RECOGNIZES A LIABILITY TO THE NONPROFIT AND ADJUSTS THIS LIABILITY FOR RELATED CONTRIBUTIONS, EARNINGS, GRANTS AND EXPENSES. IN 2022, $165,206 WAS RETURNED TO THESE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frances Lummy Barnes Chair | OfficerTrustee | 2 | $0 |
Jerry Bailey Immediate Past Chair | OfficerTrustee | 1 | $0 |
Cindy Chandler Treasurer | OfficerTrustee | 2 | $0 |
Fairfax Reynolds Secretary | OfficerTrustee | 1 | $0 |
Steve Buckley Director | Trustee | 0.5 | $0 |
Marlene Carter Director | Trustee | 0.5 | $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 | $1,596,279 |
| Noncash contributions included in lines 1a–1f | $458,316 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,596,279 |
| Total Program Service Revenue | $200,720 |
| Investment income | $567,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,881 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,369,564 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $811,628 |
| Grants and other assistance to domestic individuals. | $250,142 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $107,967 |
| Compensation of current officers, directors, key employees. | $35,795 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,933 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,068 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $693 |
| Fees for services: Accounting | $15,536 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,403 |
| Fees for services: Other | $165,539 |
| Advertising and promotion | $1,664 |
| Office expenses | $1,254 |
| Information technology | $37,154 |
| Royalties | $0 |
| Occupancy | $653 |
| Travel | $692 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,371 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,342 |
| All other expenses | $0 |
| Total functional expenses | $1,656,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $605,922 |
| Savings and temporary cash investments | $272,749 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $115 |
| 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 | $22,766 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,307,851 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,209,403 |
| Accounts payable and accrued expenses | $36,477 |
| Grants payable | $100,000 |
| 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 | $5,222,276 |
| Total liabilities | $5,358,753 |
| Net assets without donor restrictions | $8,923,986 |
| Net assets with donor restrictions | $4,926,664 |
| 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 | $19,209,403 |
Grants Awarded
Over the last fiscal year, Alamance Community Foundation has awarded $709,569 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
NC STATE UNIVERSITY PURPOSE: PROGRAM ASSISTANCE | $5,500 |
ELON UNIVERSITY PURPOSE: PROGRAM ASSISTANCE | $39,271 |
ABWE FOUNDATION LLC PURPOSE: PROGRAM ASSISTANCE | $7,400 |
ALAMANCE COUNTY YOUNG LIFE PURPOSE: PROGRAM ASSISTANCE | $24,000 |
ALAMANCE COMMUNITY COLLEGE FOUNDATION PURPOSE: PROGRAM ASSISTANCE | $60,826 |
ALAMANCE-BURLINGTON SCHOOL SYSTEN PURPOSE: PROGRAM ASSISTANCE | $8,790 |