Civic Intelligence

Lowe'S Charitable and Educational Foundation

990 • Fiscal year 2022 • EIN 56-6061689

Feb 01, 2021 to Jan 31, 2022 • Filed on Dec 13, 2022

Organization ProfileN/A
1000 Lowes BlvdMooresville, NC 28117

(704) 758-2009

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

67th percentile

0.48x

Higher debt load relative to assets than 67% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

1.97x

Higher debt load relative to revenue than 91% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Net Margin

2nd percentile

-115%

Higher net margin than 2% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Asset Growth

8th percentile

-17%

Faster asset growth than 8% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

2nd percentile

-79%

Faster revenue growth than 2% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$8,794,184

Down $1,742,867 (-17%) from 2021

Net Assets

Down

$4,546,184

Down $2,486,867 (-35%) from 2021

Liabilities

Up

$4,248,000

Up $744,000 (+21%) from 2021

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin2nd percentile

Revenue

Down

$2,155,365

Down $7,951,605 (-79%) from 2021

Expenses

Down

$4,642,232

Down $3,730,624 (-45%) from 2021

Net Income

Down

-$2,486,867

Down $4,220,981 (-243%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0-$10MAssets 2011: $22,907,678Liabilities 2011: $10,532,300Net Assets 2011: $12,375,3782011Assets 2012: $24,014,821Liabilities 2012: $9,822,901Net Assets 2012: $14,191,9202012Assets 2013: $8,629,977Liabilities 2013: $5,175,477Net Assets 2013: $3,454,5002013Assets 2014: $1,621,312Liabilities 2014: $3,699,818Net Assets 2014: -$2,078,5062014Assets 2015: $1,012,450Liabilities 2015: $1,258,544Net Assets 2015: -$246,0942015Assets 2016: $1,470,842Liabilities 2016: $1,362,845Net Assets 2016: $107,9972016Assets 2017: $610,835Liabilities 2017: $125,264Net Assets 2017: $485,5712017Assets 2018: $1,875,666Liabilities 2018: $258,449Net Assets 2018: $1,617,2172018Assets 2019: $1,513,384Liabilities 2019: $0Net Assets 2019: $1,513,3842019Assets 2020: $5,298,937Liabilities 2020: $0Net Assets 2020: $5,298,9372020Assets 2021: $10,537,051Liabilities 2021: $3,504,000Net Assets 2021: $7,033,0512021Assets 2022: $8,794,184Liabilities 2022: $4,248,000Net Assets 2022: $4,546,1842022Assets 2023: $18,802,670Liabilities 2023: $870,000Net Assets 2023: $17,932,6702023Assets 2024: $16,296,593Liabilities 2024: $1,650,113Net Assets 2024: $14,646,4802024Assets 2025: $18,775,075Liabilities 2025: $1,633,651Net Assets 2025: $17,141,4242025

Highlighted filing

2022

Assets$8,794,184
Liabilities$4,248,000
Net Assets$4,546,184
Open 2022 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MExpenses 2011: $23,486,8142011Revenue 2012: $21,174,219Expenses 2012: $19,357,368Net Income 2012: $1,816,8512012Expenses 2013: $12,504,4982013Revenue 2014: $1,706,187Expenses 2014: $7,237,421Net Income 2014: -$5,531,2342014Revenue 2015: $7,926,234Expenses 2015: $6,092,210Net Income 2015: $1,834,0242015Revenue 2016: $6,371,858Expenses 2016: $5,522,143Net Income 2016: $849,7152016Revenue 2017: $2,954,949Expenses 2017: $2,577,375Net Income 2017: $377,5742017Revenue 2018: $3,152,712Expenses 2018: $2,030,016Net Income 2018: $1,122,6962018Revenue 2019: $3,095,831Expenses 2019: $3,199,664Net Income 2019: -$103,8332019Revenue 2020: $4,876,039Expenses 2020: $1,090,486Net Income 2020: $3,785,5532020Revenue 2021: $10,106,970Expenses 2021: $8,372,856Net Income 2021: $1,734,1142021Revenue 2022: $2,155,365Expenses 2022: $4,642,232Net Income 2022: -$2,486,8672022Revenue 2023: $15,875,960Expenses 2023: $2,489,474Net Income 2023: $13,386,4862023Revenue 2024: $19,566,102Expenses 2024: $22,793,917Net Income 2024: -$3,227,8152024Revenue 2025: $25,271,969Expenses 2025: $22,777,025Net Income 2025: $2,494,9442025

Highlighted filing

2022

Revenue$2,155,365
Expenses$4,642,232
Net Income-$2,486,867
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Feb 1, 2021 to Jan 31, 2022
Signed
Dec 13, 2022
Return Version
2021v4.1
Gross Receipts
$2,155,365
Mission and Program Overview

Mission

The Organization's purpose is to provide funding for

The Organization's purpose is to provide funding for nonprofit organizations and public agencies that have the greatest impact on safe and affordable housing, skilled trade education, and community improvement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$10,487,051$7,949,610▼ $2,537,441
Prepaid Expenses and Deferred Charges-$814,574-
Pledges and Grants Receivable$50,000$30,000▼ $20,000
Total Assets$10,537,051$8,794,184▼ $1,742,867
Liabilities
Grants Payable$3,504,000$4,248,000▲ $744,000
Total Liabilities$3,504,000$4,248,000▲ $744,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,033,051$4,546,184▼ $2,486,867
Total Net Assets Fund Balance$7,033,051$4,546,184▼ $2,486,867
Total Liabilities and Net Assets / Fund Balance$10,537,051$8,794,184▼ $1,742,867
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Janice DupreChair
Margi VagellSVP & Vice Chairman
Alvin FerrouilletTrustee
Ben BoydTrustee
Donna NealTrustee
Jason RutherfordTrustee
Sandy FeltonTrustee
Vincent ScaleseTrustee
David R GreenTrustee & Treasurer
Bill EllisonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,155,365
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,155,365
Change in Net Assets
$-2,486,867
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,581,750
Other Expenses$60,482
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,581,750--$4,581,750
Fees for Services Management$32,500$0$0$32,500
Other Expenses$0$25,405$0$25,405
Total Functional Expenses$4,614,250$27,982$0$4,642,232
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Habitat for Humanity of the Charlotte Region IncCharlotte, NC501(c)(3)Affordable Housing$1,525,000
Charlotte Rescue MissionCharlotte, NC501(c)(3)Affordable Housing$500,000
United Way of Centeral Carolinas IncCharlotte, NC501(c)(3)Affordable Housing$450,000
Habitat for Humanity of the Charlotte Region IncCharlotte, NC501(c)(3)Skilled Trades$375,000
Salvation Army of the CarolinasCharlotte, NC501(c)(3)Affordable Housing$300,000
Aspire Community CapitalCharlotte, NC501(c)(3)Skilled Trades$275,000
She Built This CityFort Mill, SC501(c)(3)Skilled Trades$240,000
RAIN IncCharlotte, NC501(c)(3)Affordable Housing$200,000
Rebuilding Together of Greater Charlotte IncCharlotte, NC501(c)(3)Affordable Housing$200,000
The ROC Charlotte IncCharlotte, NC501(c)(3)Skilled Trades$150,000
Craft & Trade AcademyCharlotte, NC501(c)(3)Skilled Trades$143,000
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
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
Filing and Contact Details

Filer

Filer Name
Lowe's Foundation
EIN
56-6061689
Phone
7047582009
Address
1000 Lowes Blvd, Mooresville, NC 28117

Signing Officer

Name
David R Green
Title
Treasurer
Phone
7047582009
Signed
2022-12-13

Organization Details

Principal Officer
David R Green
Formed
1957
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
50

Preparer

Firm
David Green CPA
Address
118 RED BROOK LANE, MOORESVILLE, NC 28117
Preparer
David R Green
Phone
7047993188
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The 990 is reviewed by multiple volunteer accountants for accuracy.”

Pt VI, Line 19

“All governing documents and financial statments are available to the public upon request.”

Pt VI, Line 12C

“All directors, officers and committee members annually certify compliance with the organization's policy.”

Pt VI, Line 15A

“See statement below”

Pt VI, Line 15B

“The Organization's compensation policy states that no trustee, or officer shall be compensated for serving in their capacity as a trustee or officer.”

Pt VI, Line 2

“Trustees and officers are employees of Lowe's Companies, Inc.”

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IRS990ScheduleI/RecipientTable/CashGrantAmt4200000
IRS990ScheduleI/RecipientTable/CashGrantAmt5240000
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IRS990ScheduleI/RecipientTable/CashGrantAmt7200000
IRS990ScheduleI/RecipientTable/CashGrantAmt8275000
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Skilled Trades
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Affordable Housing
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Skilled Trades
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Affordable Housing
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Affordable Housing
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Skilled Trades
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Affordable Housing
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7Affordable Housing
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8Skilled Trades
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9Skilled Trades
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt10Affordable Housing
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Craft & Trade Academy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Salvation Army of the Carolinas
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Habitat for Humanity of the Charlotte Region Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Habitat for Humanity of the Charlotte Region Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Rebuilding Together of Greater Charlotte Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5She Built This City
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6United Way of Centeral Carolinas Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7RAIN Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8Aspire Community Capital
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9The ROC Charlotte Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10Charlotte Rescue Mission
IRS990ScheduleI/RecipientTable/RecipientEIN0853888238
IRS990ScheduleI/RecipientTable/RecipientEIN1580660607
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IRS990ScheduleI/RecipientTable/RecipientEIN3561366233
IRS990ScheduleI/RecipientTable/RecipientEIN4273101212
IRS990ScheduleI/RecipientTable/RecipientEIN5843445543
IRS990ScheduleI/RecipientTable/RecipientEIN6560529948
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03100 International Airport Dr Suite
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO Box 31128
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO Box 220287
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3PO Box 220287
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4330 Camp Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5833 Stratford Run Drive
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6601E Fifth St 350
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt7601 East 5th St Suite 470
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt81800 Camden Rd
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt91335 Alleghany Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt10PO Box 33000
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm4Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm5Fort Mill
IRS990ScheduleI/RecipientTable/USAddress/CityNm6Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm7Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm8Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm9Charlotte
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5SC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd7NC
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd928208
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd1028233
IRS990ScheduleI/Total501c3OrgCnt011
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 is reviewed by multiple volunteer accountants for accuracy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All governing documents and financial statments are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All directors, officers and committee members annually certify compliance with the organization's policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3See statement below
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization's compensation policy states that no trustee, or officer shall be compensated for serving in their capacity as a trustee or officer.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Trustees and officers are employees of Lowe's Companies, Inc.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 2
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.00000

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,794,184
Liabilities
$4,248,000
Net assets
$4,546,184
Revenue
$2,155,365
Expenses
$4,642,232
Net income
-$2,486,867
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.8$1.63$17.1$25.3$22.8$2.49
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.3$1.65$14.6$19.6$22.8$3.23
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.8$0.87$17.9$15.9$2.49$13.4
2022Detailed filing. Detailed filing data is available for this year.$8.79$4.25$4.55$2.16$4.64$2.49
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.5$3.50$7.03$10.1$8.37$1.73
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.30$0.00$5.30$4.88$1.09$3.79
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.51$0.00$1.51$3.10$3.20$0.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.88$0.26$1.62$3.15$2.03$1.12
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.13$0.49$2.95$2.58$0.38
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$1.36$0.11$6.37$5.52$0.85
2015Detailed filing. Detailed filing data is available for this year.$1.01$1.26$0.25$7.93$6.09$1.83
2014Detailed filing. Detailed filing data is available for this year.$1.62$3.70$2.08$1.71$7.24$5.53
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.63$5.18$3.45$12.5
2012Summary only. Only limited summary data is available for this year.$24.0$9.82$14.2$21.2$19.4$1.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.9$10.5$12.4$23.5