Civic Intelligence

The Airlie Gardens Foundation Inc

EIN 56-2153433 • 501(c)3 • Wilmington, NC

Profile

To establish an outstanding historical garden with cultural and educational programs for the citizens of and visitors to new hanover county.

300 Airlie RoadWilmington, NC 28403

www.airliegardens.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.02x

Higher debt load relative to assets than 19% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

27th percentile

0.08x

Higher debt load relative to revenue than 27% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

83rd percentile

34%

Higher net margin than 83% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

86th percentile

25%

Faster asset growth than 86% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

61st percentile

13%

Faster revenue growth than 61% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Up

$12,187,578

Up $2,434,228 (+25%) from 2024

Liabilities

Down

$183,362

Down $71,382 (-28%) from 2024

Net Assets

Up

$12,004,216

Up $2,505,610 (+26%) from 2024

Revenue

Up

$2,346,426

Up $273,567 (+13%) from 2024

Expenses

Down

$1,546,219

Down $368,430 (-19%) from 2024

Net Income

Up

$800,207

Up $641,997 (+406%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2011: $1,977,289Liabilities 2011: $207,039Net Assets 2011: $1,770,2502011Assets 2012: $2,088,655Liabilities 2012: $151,956Net Assets 2012: $1,936,6992012Assets 2013: $2,429,757Liabilities 2013: $146,869Net Assets 2013: $2,282,8882013Assets 2014: $2,783,971Liabilities 2014: $83,482Net Assets 2014: $2,700,4892014Assets 2015: $3,051,665Liabilities 2015: $84,211Net Assets 2015: $2,967,4542015Assets 2016: $3,320,977Liabilities 2016: $87,033Net Assets 2016: $3,233,9442016Assets 2017: $3,930,298Liabilities 2017: $145,627Net Assets 2017: $3,784,6712017Assets 2018: $4,548,468Liabilities 2018: $132,074Net Assets 2018: $4,416,3942018Assets 2019: $4,970,052Liabilities 2019: $119,638Net Assets 2019: $4,850,4142019Assets 2020: $5,103,331Liabilities 2020: $107,003Net Assets 2020: $4,996,3282020Assets 2021: $7,462,807Liabilities 2021: $181,815Net Assets 2021: $7,280,9922021Assets 2022: $7,193,887Liabilities 2022: $231,079Net Assets 2022: $6,962,8082022Assets 2023: $8,628,436Liabilities 2023: $235,428Net Assets 2023: $8,393,0082023Assets 2024: $9,753,350Liabilities 2024: $254,744Net Assets 2024: $9,498,6062024Assets 2025: $12,187,578Liabilities 2025: $183,362Net Assets 2025: $12,004,2162025

Highlighted filing

2025

Assets$12,187,578
Liabilities$183,362
Net Assets$12,004,216

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0Expenses 2011: $576,8462011Expenses 2012: $599,3962012Expenses 2013: $342,8692013Revenue 2014: $732,784Expenses 2014: $411,715Net Income 2014: $321,0692014Revenue 2015: $902,028Expenses 2015: $376,417Net Income 2015: $525,6112015Revenue 2016: $852,673Expenses 2016: $406,735Net Income 2016: $445,9382016Revenue 2017: $955,255Expenses 2017: $684,206Net Income 2017: $271,0492017Revenue 2018: $1,067,840Expenses 2018: $679,943Net Income 2018: $387,8972018Revenue 2019: $1,177,716Expenses 2019: $818,902Net Income 2019: $358,8142019Revenue 2020: $1,082,514Expenses 2020: $828,407Net Income 2020: $254,1072020Revenue 2021: $1,310,240Expenses 2021: $726,687Net Income 2021: $583,5532021Revenue 2022: $1,652,860Expenses 2022: $751,296Net Income 2022: $901,5642022Revenue 2023: $1,740,116Expenses 2023: $888,223Net Income 2023: $851,8932023Revenue 2024: $2,072,859Expenses 2024: $1,914,649Net Income 2024: $158,2102024Revenue 2025: $2,346,426Expenses 2025: $1,546,219Net Income 2025: $800,2072025

Highlighted filing

2025

Revenue$2,346,426
Expenses$1,546,219
Net Income$800,207

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.2$0.18$12.0$2.35$1.55$0.80
2024Detailed filing. Detailed filing data is available for this year.$9.75$0.25$9.50$2.07$1.91$0.16
2023Detailed filing. Detailed filing data is available for this year.$8.63$0.24$8.39$1.74$0.89$0.85
2022Detailed filing. Detailed filing data is available for this year.$7.19$0.23$6.96$1.65$0.75$0.90
2021Detailed filing. Detailed filing data is available for this year.$7.46$0.18$7.28$1.31$0.73$0.58
2020Detailed filing. Detailed filing data is available for this year.$5.10$0.11$5.00$1.08$0.83$0.25
2019Detailed filing. Detailed filing data is available for this year.$4.97$0.12$4.85$1.18$0.82$0.36
2018Detailed filing. Detailed filing data is available for this year.$4.55$0.13$4.42$1.07$0.68$0.39
2017Detailed filing. Detailed filing data is available for this year.$3.93$0.15$3.78$0.96$0.68$0.27
2016Detailed filing. Detailed filing data is available for this year.$3.32$0.09$3.23$0.85$0.41$0.45
2015Detailed filing. Detailed filing data is available for this year.$3.05$0.08$2.97$0.90$0.38$0.53
2014Detailed filing. Detailed filing data is available for this year.$2.78$0.08$2.70$0.73$0.41$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.43$0.15$2.28$0.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.09$0.15$1.94$0.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.98$0.21$1.77$0.58
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 31, 2025
Return Version
2024v5.2
Gross Receipts
$2,439,573
Mission and Program Overview

Mission

To establish an outstanding historical garden with cultural and educational programs for the citizens of and visitors to new hanover county.

To establish an outstanding historical garden with cultural and educational programs for the citizens of and vistors to New Hanover County.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,117,962$11,588,623▲ $2,470,661
Cash and Non-Interest-Bearing Accounts$471,242$406,426▼ $64,816
Savings and Temporary Cash Investments$97,975$100,900▲ $2,925
Prepaid Expenses and Deferred Charges$41,282$52,836▲ $11,554
Inventories for Sale or Use$19,107$25,785▲ $6,678
Accounts Receivable$4,147$12,883▲ $8,736
Land, Buildings, and Equipment, Net$1,635$125▼ $1,510
Total Assets$9,753,350$12,187,578▲ $2,434,228
Liabilities
Deferred Revenue$208,636$151,416▼ $57,220
Accounts Payable and Accrued Expenses$46,108$31,946▼ $14,162
Total Liabilities$254,744$183,362▼ $71,382
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,471,609$11,980,383▲ $2,508,774
Net Assets With Donor Restrictions$26,997$23,833▼ $3,164
Total Net Assets Fund Balance$9,498,606$12,004,216▲ $2,505,610
Total Liabilities and Net Assets / Fund Balance$9,753,350$12,187,578▲ $2,434,228

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$125$62,878$63,003
Other Land Buildings$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$9,117,962$1,163,000▲ $1,370,851-$11,588,622
2023$7,139,702$949,612▲ $1,082,320-$9,117,962
2022$6,291,842$200,000▲ $693,664-$7,139,702
2021$6,499,147$950,000▼ $1,107,025-$6,291,842
2020$4,457,994---$4,457,994
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael CreedChair
Beverly ErwinDirector
Charlie RivenbarkDirector
John E Russ IiiDirector
Nikki BascomeDirector
Rob ZappleDirector
Sandra RayDirector
Ted Davis JrDirector
Teddy DavisDirector
Tia SaffoDirector
Tara DuckworthExecutive Director
Shane JohnsonSecretary
Eric BlaesingTreasurer/fy 2025 Vice CHA
Revenue and Support

Revenue Composition

Contributions and Grants
$166,047
Program Service Revenue
$1,923,977
Investment Income
$180,629
Other Revenue
$75,773
All Other Contributions
$166,047
Change in Net Assets
$800,207

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,346,426
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,705,403
Total Revenue per Audited Statements
$4,051,829
Total Revenue per Form 990
$2,346,426
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,546,219
Total Fundraising Expense$253
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$704,243$133,750$253$838,246
Other Expenses$488,428--$488,428
Office Expenses$82,067$72,777-$154,844
Fees for Service Investment Mgmnt Fees$63,191--$63,191
Depreciation Depletion$1,510--$1,510
Total Functional Expenses$1,339,439$206,527$253$1,546,219

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Total Expenses per Audited Statements$0
Total Expenses per Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Teddy Davis and Ted Davis Father/Son

Form 990, Part VI, Section B, line 11B

CPA is hired to audit financial statements then draft 990 with audited figures. CPA circulates draft of 990 to executive management and the board of directors. The board approves the 990 for filing.

Form 990, Part VI, Section B, line 12C

Conflicts are required to be disclosed annually. If conflict arises the individual who is conflicted does not vote, or participate in discussion of item. New members sign a commitment to serve, code of ethics and conflict of interest document when joining the board.

Form 990, Part VI, Section B, line 15

No executive employees, new hanover county provides in kind services to the foundation, that include executive management. No other salaries.

Form 990, Part VI, Section C, line 19

On guidestar.org and by request.

Filing and Contact Details

Filer

Filer Name
The Airlie Gardens Foundation Inc
EIN
56-2153433
Phone
9107987700
Address
300 Airlie Road, Wilmington, NC 28403

Signing Officer

Name
Eric Blaesing
Title
Vice Chair
Phone
9107987700
Signed
2025-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Blaesing
Formed
1999
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
242

Preparer

Firm
EARNEY Accountants & Advisors PLLC
Address
700 Military Cutoff Road Suite 250, Wilmington, NC 28405
Preparer
Ryan Skuce CPA
Phone
9102569995
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Garden Projects: Program service expenses 157,505. Management and general expenses 0. Fundraising expenses 0. Total expenses 157,505. Exhibit & Education: Program service expenses 54,369. Management and general expenses 0. Fundraising expenses 0. Total expenses 54,369. Garden Admin and Maintenance: Program service expenses 140,780. Management and general expenses 124,843. Fundraising expenses 0. Total expenses 265,623. Concert Series: Program service expenses 45,159. Management and general expenses 0. Fundraising expenses 0. Total expenses 45,159. Enchanted Airlie: Program service expenses 86,008. Management and general expenses 0. Fundraising expenses 0. Total expenses 86,008. Gate expenses: Program service expenses 34,507. Management and general expenses 3,834. Fundraising expenses 0. Total expenses 38,341. Membership expenses: Program service expenses 9,872. Management and general expenses 2,531. Fundraising expenses 253. Total expenses 12,656. Wedding & Garden events: Program service expenses 1,694. Management and general expenses 2,542. Fundraising expenses 0. Total expenses 4,236. Grounds Maintenance: Program service expenses 31,641. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,641. Other expenses: Program service expenses 11,692. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,692. Oyster roast: Program service expenses 59,483. Management and general expenses 0. Fundraising expenses 0. Total expenses 59,483. Lake Management: Program service expenses 28,934. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,934. Blooms & brews: Program service expenses 42,599. Management and general expenses 0. Fundraising expenses 0. Total expenses 42,599.

Financial Statement Notes

Part V, Line 4:

To support the Foundation's programs and enhancements to the gardens. During the current year, the board moved money from cash to investments, shown as a contribution in Part V.

Part X, Line 2:

The Foundation is exempt from federal income tax under Section 501 (c)(3) of the Internal Revenue Code, but is subject to tax on unrelated business income as defined by the code. We consider wedding revenue unrelated business income for the Foundation. Net earnings on such revenue are subject to tax on unrelated business income. Taxable income/(loss) was $14,254 in fiscal year 2025 and $(36,076) in fiscal year 2024, which were offset by available loss carryovers of $33,081. The Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Foundations' management believes it is no longer subject to income tax examinations for the years prior to 2020.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/MissionDesc0TO ESTABLISH AN OUTSTANDING HISTORICAL GARDEN WITH CULTURAL AND EDUCATIONAL PROGRAMS FOR THE CITIZENS OF AND VISITORS TO NEW HANOVER COUNTY.
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0180629
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0To support the Foundation's programs and enhancements to the gardens. During the current year, the board moved money from cash to investments, shown as a contribution in Part V.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Foundation is exempt from federal income tax under Section 501 (c)(3) of the Internal Revenue Code, but is subject to tax on unrelated business income as defined by the code. We consider wedding revenue unrelated business income for the Foundation. Net earnings on such revenue are subject to tax on unrelated business income. Taxable income/(loss) was $14,254 in fiscal year 2025 and $(36,076) in fiscal year 2024, which were offset by available loss carryovers of $33,081. The Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Foundations' management believes it is no longer subject to income tax examinations for the years prior to 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
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