New Hanover Community Endowment Inc
- Assets
- $1.3b
- Revenue
- $1.3b
- Investments
- $0.0
- Employees
- 0
- Location
- Wilmington, NC
- Founding
- Data as of
- 12/2021
- 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. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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:
Part 3 - Line 4a
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Spence Broadhurst Board Chair/president | OfficerTrustee | 12 | $0 |
Hannah Gage Vice Chair/secretary | OfficerTrustee | 12 | $0 |
Bill Cameron Director | Trustee | 12 | $0 |
Cedric Dickerson Director | Trustee | 12 | $0 |
Virginia Adams Director | Trustee | 12 | $0 |
Chris Boney Director | Trustee | 12 | $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 |
View All Vendors
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,296,033,526 |
| 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 | $1,296,033,526 |
| Total Program Service Revenue | $0 |
| Investment income | $5,991,001 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,564,759 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,315,589,286 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $231,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,038 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,979 |
| Fees for services: Accounting | $19,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,088 |
| Fees for services: Other | $200,900 |
| Advertising and promotion | $0 |
| Office expenses | $9,159 |
| Information technology | $68,500 |
| Royalties | $0 |
| Occupancy | $9,764 |
| Travel | $15,118 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,762 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $54,256 |
| All other expenses | $0 |
| Total functional expenses | $718,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,951 |
| Savings and temporary cash investments | $265,576,140 |
| 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 | $1,050,058,752 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,315,756,843 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $1,315,756,843 |
| 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 | $1,315,756,843 |
Endowment Analysis
| Beg. Balance | $92,968 |
| Earnings | $20,413,157 |
| Admin Expense | $782,808 |
| Net Contributions | $1,296,033,526 |
| Ending Balance | $1,315,756,843 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN | $205,748,037 | $85,831,682 |
The Community Foundation Inc Richmond, VA | $859,349,771 | $152,790,051 |
Charlottesville Area Community Foundation Charlottesville, VA | $339,690,669 | $77,610,040 |
North Carolina Community Foundation Inc Raleigh, NC | $442,779,010 | $109,848,330 |
Hampton Roads Community Foundation Norfolk, VA | $431,066,210 | $16,919,172 |
Triangle Community Foundation Durham, NC | $302,593,887 | $28,260,487 |
Coastal Community Foundation Of South Carolina Inc N Charleston, SC | $293,333,431 | $80,143,972 |
Chattanooga Christian Community Foundation Chattanooga, TN | $107,861,272 | $37,732,736 |
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN | $242,437,300 | $52,106,763 |
East Tennessee Foundation Knoxville, TN | $333,652,631 | $23,055,951 |
The Community Foundation Of Western North Carolina Inc Asheville, NC | $422,748,745 | $38,320,270 |
Community Foundation Of Greater Greensboro Inc Greensboro, NC | $268,212,461 | $40,395,887 |