New Hanover Community Endowment Inc
- Assets
- $1.2b
- Revenue
- -$36.7m
- Investments
- $0.0
- Employees
- 6
- Location
- Wilmington, NC
- Founding
- Data as of
- 12/2022
- EIN
- 85-3563370
Organization Overview
New Hanover Community Endowment Inc is located in Wilmington, NC. 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 12/2023, New Hanover Community Endowment Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hanover Community Endowment Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2022, New Hanover Community Endowment Inc has awarded 92 individual grants totaling $8,964,189. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH, EDUCATION, SAFETY, AND ECONOMIC OPPORTUNITY OF EVERY PERSON IN OUR COMMUNITY.
Describe the Organization's Program Activity:
PROVIDING FINANCIAL SUPPORT TO BENEFIT THE RESIDENTS OF NEW HANOVER COUNTY AND REGION. NEW HANOVER COMMUNITY ENDOWMENT, INC. FOCUSES ON (1) PUBLIC PRIMARY, SECONDARY, AND POST-SECONDARY EDUCATION, (2) HEALTH AND SOCIAL EQUITY, (3) COMMUNITY DEVELOPMENT, AND (4) COMMUNITY SAFETY IN FURTHERANCE OF THE MISSION AND INITIATIVES OF NEW HANOVER COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Spence Broadhurst Director/assistant Treasurer | OfficerTrustee | 8 | $0 |
Hannah Gage Director/secretary | OfficerTrustee | 8 | $0 |
Virginia Adams Director | Trustee | 8 | $0 |
Chris Boney Director | Trustee | 8 | $0 |
Bill Cameron Director | Trustee | 8 | $0 |
Cedric Dickerson Director | Trustee | 8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Karl Stauber Consulting Services | 12/30/21 | $168,750 |
Boardwalk Consulting Llc Consulting Services | 12/30/21 | $135,000 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $24,234,447 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$60,946,615 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$36,712,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,288,550 |
| 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. | $458,959 |
| Compensation of current officers, directors, key employees. | $275,375 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,027 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,650 |
| Payroll taxes | $27,675 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $98,322 |
| Fees for services: Accounting | $23,893 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,000 |
| Fees for services: Other | $316,572 |
| Advertising and promotion | $0 |
| Office expenses | $12,203 |
| Information technology | $101,182 |
| Royalties | $0 |
| Occupancy | $47,329 |
| Travel | $495 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,543 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $55,055 |
| All other expenses | $0 |
| Total functional expenses | $10,626,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $951,843 |
| Savings and temporary cash investments | $31,914,122 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $1,175,294,936 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,208,160,901 |
| Accounts payable and accrued expenses | $21,377 |
| Grants payable | $305,000 |
| 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 | $0 |
| Total liabilities | $326,377 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $1,207,834,524 |
| 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 | $1,208,160,901 |
Grants Awarded
Over the last fiscal year, New Hanover Community Endowment Inc has awarded $8,964,189 in support to 92 organizations.
| Grant Recipient | Amount |
|---|---|
A BIKE FOR EVERY CHILD PURPOSE: Transforming lives, one bike at a time. A Bike For Every Child collects new and gently used bikes from the community, refurbishes them, and gives the bikes and new helmets and locks to kids and adults who need one.This grant will support the Junior Bike Mechanics program. | $16,000 |
ACCESS DENTAL CARE PURPOSE: Access Dental Care is a national leader in providing comprehensive, mobile dental services to patients with special health care and behavioral needs.This grant will support mobile dental services. | $140,500 |
A SAFE PLACE PURPOSE: A Safe Place (ASP) is an empowerment organization focusing on prevention, advocacy, and restoration to assist victims of commercial sexual exploitation and sex trafficking.This grant will support case management, occupancy, and the Outreach Center Program. | $148,000 |
ACCESS OF WILMINGTON PURPOSE: The Mission of ACCESS of Wilmington is to build community for children, adults, and veterans with disabilities by eliminating barriers to health and wellness through adapted sports, recreation and fitness.This grant will support membership fees to a number of fitness programs, giving people more access and to purchase adaptive sports equipment. | $50,000 |
ADVANCE YOUTH OUTREACH PURPOSE: Advance Youth Outreach to reduce recidivism and negative behavior by equipping the Youth with mentorship and opportunities To inspire the Youth to create fresh resolutions concerning community issues and education.This grant will support the YES program cohort. | $14,000 |
AMERICAN RED CROSS PURPOSE: The American Red Cross prevents and alleviates human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors.This grant will support the Sickle Cell Initiative. | $170,735 |