Foundation For The Carolinas in Charlotte, North Carolina (NC)

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Foundation For The Carolinas
Employer Identification Number (EIN)566047886
Name of OrganizationFoundation For The Carolinas
Address220 N Tryon St, Charlotte, NC 28202-2137
ActivitiesGifts, grants, or loans to other organizations, Other school related activities, Community Chest, United Way, etc.
SubsectionCharitable Organization
Ruling Date10/1962
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$908,090,732
Amount of Income$317,146,993
Form 990 Revenue Amount$317,091,144
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2013: $317,146,993
Foundation For The Carolinas: 

 $317,146,993
Other organizations performing similar types of work: 

 $18,946,686

Assets in 2013: $908,090,732
Foundation For The Carolinas: 

 $908,090,732
Other organizations performing similar types of work: 

 $79,452,997

Expenses in 2013: $195,600,475
Foundation For The Carolinas: 

 $195,600,475
Other organizations performing similar types of work: 

 $5,721,898

Income to expenses ratio in 2013: 1.6
This organization: 

 1.6
Other organizations performing similar types of work: 

 3.1

Expenses allocated to program services in 2007: 94.5%
Foundation For The Carolinas: 

 94.5%
Other organizations performing similar types of work: 

 87.6%

Number of employees in 2013: 65
Foundation For The Carolinas: 

 65
Other organizations performing similar types of work: 

 12

Employees paid over $100,000 in 2013: 10.8%
Foundation For The Carolinas: 

 10.8%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 86.6%
Foundation For The Carolinas: 

 86.6%
Other organizations performing similar types of work: 

 66.9%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?YesYes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?YesYes
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?YesYes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?NoYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?YesYes
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
2010201120122013
The number reported in Box 3 of Form 109683107116
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return516265
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYesYes
Has it filed a Form 990-T for this year?YesYesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?YesYesYes
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?YesYesYes
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?YesYesYes
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYesYes
Did the organization notify the donor of the value of the goods or services provided?YesYesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoYesYes
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,493,677$1,438,929
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$345,748$319,936
Total number of individuals who received more than $100,000 of reportable compensation from the organization77
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
2010201120122013
Total revenue$196,030,092$148,316,177$215,832,204$317,091,144
Contributions, Gifts, Grants and Other Similar Amounts$174,414,362$129,221,531$195,181,049$274,443,243
Program Service Revenue$4,899,314$5,410,353$6,069,289$6,779,133
561000$5,410,353$6,069,289$6,779,133
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$9,360,481$8,348,584$7,545,582$9,911,272
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$167,971$148,228$192,763$543,906
Gross rents (Real / Personal)$180,120 / $0$148,228 / $0$192,763 / $0$543,906 / $0
Less: rental expenses (Real / Personal)$12,149 / $0$0 / $0$0 / $0$0 / $0
Rental income or (loss) (Real / Personal)$167,971 / $0$148,228 / $0$192,763 / $0$543,906 / $0
Net gain/loss from sales of assets other than inventory$7,152,321$5,001,409$6,657,686$25,410,230
Gross amount from sales of assets other than inventory (Securities / Other)$7,152,321 / $0$5,001,409 / $0$6,657,686 / $0$25,410,230 / $0
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0$0 / $0$0 / $0$0 / $0
Gain or (loss) (Securities / Other)$7,152,321 / $0$5,001,409 / $0$6,657,686 / $0$25,410,230 / $0
Net income/loss from fundraising events$35,643$186,072$185,835$3,360
Gross income from fundraising events$558,858$259,251$326,765$59,209
Less: direct expenses$523,215$73,179$140,930$55,849
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$0$0$0$0
Statement of Functional Expenses
2010201120122013
Total functional expenses$138,113,578$144,935,548$175,159,255$195,600,475
Grants and other assistance to domestic organizations and domestic governments$118,568,785$144,947,158$166,489,498
Grants and other assistance to domestic individuals$756,241$2,582,418$675,172
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$1,181,071$1,262,282$1,435,423$1,438,929
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$2,288,992$2,394,983$2,388,208$2,819,252
Pension plan accruals and contributions$370,690$465,909$465,380
Other employee benefits$523,066$541,174$591,671
Payroll taxes$227,757$240,516$245,079$280,077
Fees for services (non-employees)
Management$0$0$0
Legal$188,113$210,366$103,140
Accounting$59,440$65,412$80,920
Lobbying$0$3,000$18,000
Professional fundraising services$0$0$0$0
Investment management fees$1,039,875$1,314,966$1,169,078
Other$2,022,042$981,176$1,231,389
Advertising and promotion$316,409$269,407$261,331
Office expenses$77,913$80,626$90,165
Information technology$408,049$463,255$545,762
Royalties$0$0$0
Occupancy$308,900$514,115$540,037
Travel$38,255$47,454$70,718
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$41,246$89,358$48,649
Interest$0$0$0
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$145,639$621,513$623,200
Insurance$80,023$78,118$123,212
Other expenses$4,270,243$4,295,484$5,025,484
Other expenses$9,219,189$1,548,620$2,176,278
Other expenses$1,802,674$11,140,022$9,974,299
Other expenses$433,781$422,716$405,233
Other expenses$367,194$408,278$353,601
Balance Sheet
2010201120122013
Total assets$619,418,694$608,372,246$705,548,828$908,090,732
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$25,222,306$15,295,587$32,244,840
Pledges and grants receivable, net$3,349,963$53,728,287$38,482,670
Accounts receivable, net$14,041,242$8,486,587$58,139,831
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$76,464$118,698$161,624
Land, buildings, and equipment: cost or other basis$20,581,871$5,581,048$5,631,891
Investments - publicly traded securities$418,450,743$493,178,277$648,408,859
Investments - other securities$114,581,385$118,246,225$114,517,165
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$12,068,272$10,914,119$10,503,852
Total liabilities$19,464,463$21,647,820$29,069,943$32,302,282
Accounts payable and accrued expenses$7,502,530$6,644,710$6,198,019
Grants payable$14,113,717$22,403,403$26,088,929
Deferred revenue$31,573$21,830$15,334
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0$0$0
Total net assets or fund balances$599,954,231$586,724,426$676,478,885$875,788,450
Unrestricted net assets$226,293,315$270,296,112$396,649,901
Temporarily restricted net assets$205,713,223$247,355,081$299,351,829
Permanently restricted net assets$154,717,888$158,827,692$179,786,720
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$450,509,941
Subtotal Support$852,213,801
Gifts, grants, contributions, and membership fees received$852,213,801
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$401,703,860
Total Support$897,145,837
Public Support$852,213,801
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$44,932,036
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$45,743,331$37,813,978$32,879,912$60,203,073$78,511,263$50,726,792$169,351,845$267,331,411
Contributions, gifts, grants, and similar amounts received$23,221,874$30,791,267$33,855,191$54,473,664$69,735,884$39,210,210$150,712,246$233,097,045
Contributions to donor advised funds$138,721,633$180,426,430
Direct public support$22,668,606$30,791,267$33,855,191$54,473,664$69,735,884$39,210,210$11,990,613$52,670,615
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$553,268$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$1,638,128$1,894,609$2,104,935$2,214,199$3,081,712$3,752,936$4,012,798$4,732,095
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$17,312,700
Dividends and interest from securities$7,757,971$6,166,687$3,815,985$3,565,785$5,492,194$6,290,566$8,749,287$0
Net rental income or (loss)$149,338$158,076$239,081$261,134$302,873$305,066$374,408$244,915
Gross rents$149,338$158,076$239,081$261,134$302,873$305,066$374,408$244,915
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$12,976,020$-1,196,661$-7,135,280$-311,709$-101,400$1,168,014$5,503,106$11,944,656
Gross amount from sales of assets other than inventory$245,987,254$414,147,309$285,463,406$417,819,267$285,973,307$228,400,176$199,907,497$120,279,105
Less: cost or other basis and sales expenses$233,011,234$415,343,970$292,598,686$418,130,976$286,074,707$227,232,162$194,404,391$108,334,449
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Total expenses$25,929,485$31,080,832$29,051,850$27,181,022$49,407,224$59,744,518$75,461,298$120,207,057
Program services$22,282,997$24,439,874$23,787,392$23,793,894$45,268,259$55,254,507$70,712,523$113,636,538
Management and general$2,952,027$4,600,498$3,691,394$2,968,699$3,588,794$3,916,081$4,100,730$5,606,858
Fundraising$694,461$2,040,460$1,573,064$418,429$550,171$573,930$648,045$963,661
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$168,124,838$173,699,730$170,430,114$225,192,449$259,969,365$257,303,099$386,619,253$532,233,930
Excess or (deficit) for the year$19,813,846$6,733,146$3,828,062$33,022,051$29,104,039$-9,017,726$93,890,547$147,124,354
Net assets or fund balances at beginning of year$186,661,301$168,124,838$173,699,730$170,430,114$225,192,449$259,969,365$257,303,099$386,619,253
Other changes in net assets or fund balances$-38,350,309$-1,158,254$-7,097,678$21,740,284$5,672,877$6,351,460$35,425,607$-1,509,677
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$120,207,057$113,636,538$5,606,858$963,661
Grants paid from donor advised funds$90,732,768
Other grants and allocations$13,633,042
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,401,622$580,439$692,252$128,931
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,721,996$791,676$788,946$141,374
Pension plan contributions not included above$325,312$141,640$154,219$29,453
Employee benefits not included above$366,369$160,204$173,105$33,060
Payroll taxes$185,820$82,679$88,178$14,963
Professional fundraising fees$0$0$0$0
Accounting fees$41,500$0$41,500$0
Legal fees$219,812$88,250$131,562$0
Supplies$125,539$57,145$57,427$10,967
Telephone$87,693$39,035$40,855$7,803
Postage and shipping$48,257$22,011$22,037$4,209
Occupancy$254,771$147,307$90,231$17,233
Equipment rental and maintenance$166,678$122,064$37,460$7,154
Printing and publications$213,077$133,810$66,556$12,711
Travel$93,842$55,577$32,129$6,136
Conferences, conventions, and meetings$67,425$36,171$26,242$5,012
Interest$0$0$0$0
Depreciation, depletion, etc.$276,506$0$276,506$0
Other expenses not covered above$10,245,028$6,812,720$2,887,653$544,655
Balance Sheets
20002001200220032004200520062007
Total assets$213,290,812$218,819,798$207,979,820$268,967,563$312,258,194$319,830,121$461,003,644$625,792,354
Cash - non-interest-bearing$2,950,780$0$0$0$0$0$0$0
Savings and temporary cash investments$0$0$2,513,743$24,959,857$7,200,682$3,106,765$9,872,261$7,386,376
Accounts receivable less allowance for doubtful accounts$2,048,503$1,390,266$3,031,332$2,496,667$4,263,041$2,165,951$38,590,851$6,725,356
Pledges receivable less allowance for doubtful accounts$5,020,004$3,011,088$2,044,208$3,297,528$2,146,967$2,314,285$2,736,239$12,529,465
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$420,505$100,505$100,000$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$18,271$11,620$9,461$5,726$18,475$53,499
Investments - publicly-traded securities$404,346,310$583,794,485
Investments - other securities$0$208,984,684$193,798,466$232,751,267$293,402,623$307,093,791$0$9,626,516
Investments - land, buildings, and equipment less accumulated depreciation$2,461,693$5,333,255$5,256,222$5,026,096$5,235,420$0$0$0
Investments - other$200,389,327$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$5,143,603$5,439,508$5,676,657
Other assets, including program-related investments$0$0$1,217,578$424,528$0$0$0$0
Total liabilities$45,165,974$45,120,068$37,549,706$43,775,114$52,288,829$62,527,022$74,384,391$93,558,424
Accounts payable and accrued expenses$17,040,586$0$2,587,186$1,833,293$2,195,269$1,680,030$1,130,954$516,040
Grants payable$2,138,557$1,916,709$1,875,610$1,000,644$903,252$2,098,072$3,395,027$13,102,410
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$25,986,831$43,203,359$33,086,910$40,941,177$49,190,308$58,748,920$69,858,410$79,939,974
Total liabilities and net assets/fund balances$213,290,812$218,819,798$207,979,820$268,967,563$312,258,194$319,830,121$461,003,644$625,792,354
Total net assets or fund balances$168,124,838$173,699,730$170,430,114$225,192,449$259,969,365$257,303,099$386,619,253$532,233,930
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$45,743,331$37,813,978$32,879,912$60,203,073$78,511,263$50,726,792$169,351,845$267,331,411
Total revenue, gains, and other support per audited financial statements$23,746,147$34,939,869$23,074,237$81,183,432$83,540,137$56,514,735$181,875,170$258,481,186
Other expenses$-21,997,184$-2,874,109$-9,805,675$21,740,284$5,672,877$6,351,460$13,399,071$8,571,887
Net unrealized gains on investments$-21,309,723$-2,228,458$-9,805,675$21,740,284$5,672,877$6,351,460$13,399,071$8,571,887
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$-687,461$-645,651$0$0$0$0$0$0
Other revenue$0$0$0$759,925$644,003$563,517$875,746$17,422,112
Investment expenses$0$0$0$759,925$644,003$563,517$875,746$1,242,808
Other$0$0$0$0$0$0$0$16,179,304
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$25,929,485$31,080,832$29,051,848$27,181,022$49,407,224$59,744,518$75,461,298$120,207,057
Total expenses and losses per audited financial statements$25,929,485$31,080,832$29,051,848$26,421,097$48,763,221$59,181,001$74,585,552$112,952,545
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$759,925$644,003$563,517$875,746$7,254,512
Investment expenses$0$0$0$759,925$644,003$563,517$875,746$1,242,808
Other$0$0$0$0$0$0$0$6,011,704
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$330,142$71,300$0
40$188,451$45,520$0
40$126,350$26,382$0
40$107,717$30,534$0
40$110,755$24,451$0
40$101,495$21,269$0
40$113,457$13,504$0
40$54,504$4,427$0
40$65,475$13,292$0
40$87,829$16,247$0
40$74,801$5,430$0
40$40,646$4,806$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings18
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200636
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$29,502,271$4,732,095
Program service revenue
Program service revenue 1000000$000$0$4,732,095
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$17,312,700$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$244,915$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$11,944,656$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$66,217$1,279$0
$81,129$8,839$0
$64,804$8,112$0
$55,570$5,366$0
$52,903$1,140$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$15,570
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$756
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$332,354,143
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$769
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$151,535,074
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$35,155,274$30,945,853$36,957,954$38,726,872$59,261,462$76,683,791$45,784,579$159,413,987
Gifts, grants, and contributions received$28,149,492$23,038,544$30,791,267$32,566,871$53,220,344$70,888,724$39,188,947$150,290,292
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$7,005,782$7,907,309$6,166,687$6,160,001$6,041,118$5,795,067$6,595,632$9,123,695
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$120,207,057
Total lobbying expenditures$15,570
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$15,570
Other exempt purpose expenditures$120,191,487
Lobbying nontaxable amount$1,000,000
Grassroots nontaxable amount$250,000
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$25,217$0$-25,217
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-25,217$0$-25,217
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$0
Unrelated business taxable income before net operating loss deduction$-25,217
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-25,217
Specific deduction$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Foundation For The Carolinas220 N Tryon St, Charlotte, NC 28202-2137NC1962-10$317,146,993
2Winston-Salem Foundation860 W 5th St, Winston Salem, NC 27101-2506NC1946-07$105,813,799
3North Carolina Community Foundation Inc4601 Six Forks Rd Ste 524, Raleigh, NC 27609-5286NC1986-06$77,469,816
4The Community Foundation Of Western North Carolina Inc4 Vanderbilt Park Dr Ste 300, Asheville, NC 28803-0030NC1979-09$60,722,330
5Community Foundation Of Greater Greensboro Inc330 S Greene Street, Greensboro, NC 27401-2659NC1984-07$53,479,460
6Triangle Community Foundation324 Blackwell St Ste 1220, Durham, NC 27701-3690NC1984-03$33,273,964
7Community Foundation Of Gaston County IncPO BOX 123, Gastonia, NC 28053-0123NC1979-05$20,912,287
8Salisbury Community FoundationCharlotte, NC 28202NC$8,518,969
9Community Foundation Of Henderson County IncPO BOX 1108, Hendersonvlle, NC 28793-1108NC1982-09$7,077,602
10Wave Of Hope Foundation Inc555 Ocean Blvd, Long Branch, NJ 07740-5334NJ2007-06$45,192
11Tuscarawas County Community FoundationPO BOX 523, New Phila, OH 44663-0523OH2001-04$8,655,975
12San Antonio Area Foundation, Choose To Succeed Inc303 Pearl Pkwy Ste 114, San Antonio, TX 78215-1285TX2002-11$2,927,750
13United Charitable Foundation95 Elm St, W Springfield, MA 01089-2704MA2006-10$154,040
14Utah Community Foundation7410 Creek Rd Ste 301, Sandy, UT 84093-6151UT2003-03$132,941
15Stock & Stolon Club Inc29321 Plum Creek Drive, Spring, TX 77386TX2010-04$95,461
16Tico Torres Children Foundation Inc470 Mariner Drive, Jupiter, FL 33477FL2009-04$90,000
17San Elijo Hills Foundation1277 San Elijo Rd S, San Marcos, CA 92078-1073CA2005-11$9,777
18South Padre Island Community Foundation Inc, Matz Georgiana ChairmanPO BOX 2108, S Padre Isle, TX 78597-2108TX1999-02$8
19Gary D Stewart Trinity Foundation Inc, Halos And HopePo Box 208, Clinton, MS 39060MS2009-06$0
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Number of organizations performing similar types of work
Alabama2
Arizona2
California24
Colorado4
Connecticut8
District of Columbia1
Delaware1
Florida14
Georgia2
Hawaii1
Iowa5
Idaho1
Illinois10
Indiana17
Kansas4
Kentucky2
Louisiana2
Massachusetts5
Maryland2
Maine1
Michigan17
Minnesota9
Missouri5
Mississippi3
Montana2
North Carolina9
North Dakota1
Nebraska2
New Hampshire1
New Jersey5
New York14
Ohio20
Oklahoma2
Oregon1
Pennsylvania14
South Carolina6
South Dakota3
Tennessee4
Texas28
Utah1
Virginia7
Vermont1
Washington5
Wisconsin9
West Virginia2
International1
Total280

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