Civic Intelligence

The Community Foundation of Gaston County Inc

990 • Fiscal year 2019 • EIN 58-1340834

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 26, 2020

Organization ProfileWWW.CFGASTON.ORG
PO Box 123Gastonia, NC 28053

(704) 864-0927

Siviq Scores

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

Liabilities / Assets

91st percentile

0.26x

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

2019 filings • NTEE T • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

97th percentile

3.63x

Higher debt load relative to revenue than 97% of similar nonprofits.

2019 filings • NTEE T • $50M-$100M nonprofits • Source year 2019

Net Margin

28th percentile

-9.6%

Higher net margin than 28% of similar nonprofits.

2019 filings • NTEE T • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

18th percentile

$182,581

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

28th percentile

-4.2%

Faster revenue growth than 28% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$92,745,726

Up $9,407,900 (+11%) from 2018

Net Assets

Up

$68,970,865

Up $8,114,230 (+13%) from 2018

Liabilities

Up

$23,774,861

Up $1,293,670 (+5.8%) from 2018

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin28th percentile

Revenue

Down

$6,541,595

Down $286,953 (-4.2%) from 2018

Expenses

Down

$7,170,989

Down $434,224 (-5.7%) from 2018

Net Income

Up

-$629,394

Up $147,271 (+19%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$150M$100M$50M$0Assets 2011: $52,574,986Liabilities 2011: $13,908,575Net Assets 2011: $38,666,4112011Assets 2012: $60,174,142Liabilities 2012: $18,092,639Net Assets 2012: $42,081,5032012Assets 2013: $69,984,305Liabilities 2013: $21,678,615Net Assets 2013: $48,305,6902013Assets 2014: $72,875,069Liabilities 2014: $22,864,339Net Assets 2014: $50,010,7302014Assets 2015: $81,636,753Liabilities 2015: $23,230,093Net Assets 2015: $58,406,6602015Assets 2016: $84,122,549Liabilities 2016: $23,859,835Net Assets 2016: $60,262,7142016Assets 2017: $97,010,137Liabilities 2017: $28,847,071Net Assets 2017: $68,163,0662017Assets 2018: $83,337,826Liabilities 2018: $22,481,191Net Assets 2018: $60,856,6352018Assets 2019: $92,745,726Liabilities 2019: $23,774,861Net Assets 2019: $68,970,8652019Assets 2020: $102,747,982Liabilities 2020: $25,927,317Net Assets 2020: $76,820,6652020Assets 2021: $124,627,590Liabilities 2021: $30,072,266Net Assets 2021: $94,555,3242021Assets 2022: $120,059,448Liabilities 2022: $32,361,249Net Assets 2022: $87,698,1992022Assets 2023: $126,209,800Liabilities 2023: $32,836,711Net Assets 2023: $93,373,0892023Assets 2024: $145,388,423Liabilities 2024: $45,226,758Net Assets 2024: $100,161,6652024

Highlighted filing

2019

Assets$92,745,726
Liabilities$23,774,861
Net Assets$68,970,865
Open 2019 Filing

Operations Trend

Revenue Growth28th percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $3,416,4212011Revenue 2012: $3,991,323Expenses 2012: $3,859,121Net Income 2012: $132,2022012Revenue 2013: $8,114,424Expenses 2013: $4,621,382Net Income 2013: $3,493,0422013Revenue 2014: $7,476,197Expenses 2014: $4,770,015Net Income 2014: $2,706,1822014Revenue 2015: $17,344,755Expenses 2015: $5,911,343Net Income 2015: $11,433,4122015Revenue 2016: $7,135,812Expenses 2016: $5,833,932Net Income 2016: $1,301,8802016Revenue 2017: $10,638,126Expenses 2017: $8,266,067Net Income 2017: $2,372,0592017Revenue 2018: $6,828,548Expenses 2018: $7,605,213Net Income 2018: -$776,6652018Revenue 2019: $6,541,595Expenses 2019: $7,170,989Net Income 2019: -$629,3942019Revenue 2020: $6,893,354Expenses 2020: $6,125,066Net Income 2020: $768,2882020Revenue 2021: $17,636,833Expenses 2021: $7,216,671Net Income 2021: $10,420,1622021Revenue 2022: $13,988,192Expenses 2022: $7,152,255Net Income 2022: $6,835,9372022Revenue 2023: $9,263,491Expenses 2023: $8,944,535Net Income 2023: $318,9562023Revenue 2024: $12,089,275Expenses 2024: $11,491,725Net Income 2024: $597,5502024

Highlighted filing

2019

Revenue$6,541,595
Expenses$7,170,989
Net Income-$629,394
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 26, 2020
Return Version
2019v5.1
Gross Receipts
$18,160,578
Mission and Program Overview

Mission

Gaston community foundation is the primary steward of philanthropic giving by connecting donors with community needs to enhance the lives of present and future generations.

Provide support to charitable organizations

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$65,605,849$72,392,572▲ $6,786,723
Investments Other Securities$15,899,499$17,623,163▲ $1,723,664
Savings and Temporary Cash Investments$900,398$1,672,132▲ $771,734
Cash and Non-Interest-Bearing Accounts$297,566$297,660▲ $94
Land, Buildings, and Equipment, Net$274,342$261,466▼ $12,876
Other Notes and Loans Receivable, Net-$125,656-
Prepaid Expenses and Deferred Charges$27,303$18,977▼ $8,326
Accounts Receivable$2,423$2,331▼ $92
Total Assets$83,337,826$92,745,726▲ $9,407,900
Other Assets Total$330,446$351,769▲ $21,323
Liabilities
Escrow Account Liability$19,672,801$21,332,484▲ $1,659,683
Other Liabilities$1,590,057$1,579,636▼ $10,421
Grants Payable$1,218,333$862,741▼ $355,592
Total Liabilities$22,481,191$23,774,861▲ $1,293,670
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,641,451$49,202,539▲ $5,561,088
Net Assets With Donor Restrictions$17,215,184$19,768,326▲ $2,553,142
Total Net Assets Fund Balance$60,856,635$68,970,865▲ $8,114,230
Total Liabilities and Net Assets / Fund Balance$83,337,826$92,745,726▲ $9,407,900

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,199$109,934$117,133
Leasehold Improvements$11,767$6,463$18,230
Land$242,500--
Other Securities$17,623,163--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$25,716,485$847,875▲ $4,118,442-$29,191,294
2018$28,550,407$-874,507▼ $374,794-$25,716,485
2017$13,741,070$87,720▲ $1,758,729-$14,724,615
2016$13,807,004$35,422▲ $276,750-$13,741,070
2015$14,243,746$172,852▲ $51,528-$13,807,004
Compensation and Service Providers
Top Officer Pay18th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ernest W SumnerPresidentFT$149,083$33,498$182,581

Board Members and Trustees

NameTitle
Tim EfirdBoard Chair
Fred JacksonBoard Vice Chair
Arthur Spencer IvDevelopment Director
Anderson WarlickDirector
Christa HeiligDirector
Danny JacksonDirector
David RogersDirector
Dr Ben HintonDirector
Dr Johnathan WilliamsDirector
Dr Ramada SmithDirector
Gayle KershDirector
Harding StoweDirector
Kathleen BoyceDirector
May BargerDirector
May RobinsonDirector
Robert CaldwellDirector
Vann Matthews IiiDirector
Nancy PaschallGrants Director
Robert PearsonInvestment Director
Laurie NessSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,659,685
Program Service Revenue
$203,994
Investment Income
$1,637,260
Other Revenue
$40,656
All Other Contributions
$4,659,685
Change in Net Assets
$-629,394

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded42$2,514,257Fair Market Value
Secur Prtnrshp Trust Intrsts1$196,955Fair Market Value
Total Noncash Contributions43$2,711,212-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,432,788
Revenue Not Reported on Financial Statements
$108,807
Revenue Not Reported on Form 990
$8,743,624
Total Revenue per Audited Statements
$15,176,412
Total Revenue per Form 990
$6,541,595
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,279,537
Salaries, Compensation, and Employee Benefits$511,936
Other Expenses$379,516
Total Fundraising Expense$216,994
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,279,537--$6,279,537
Other Salaries and Wages$70,971$107,794$69,296$248,061
Current Officers, Directors, Trustees, and Key Employees$52,237$79,340$51,004$182,581
Fees for Service Investment Mgmnt Fees-$108,807-$108,807
Occupancy$19,665$35,729$19,199$74,593
Other Employee Benefits$14,766$22,427$14,417$51,610
Advertising$12,691$19,275$12,391$44,357
Conferences and Meetings$9,178$13,940$8,962$32,080
Payroll Taxes$8,493$12,899$8,292$29,684
Office Expenses$7,784$11,823$7,600$27,207
Information Technology$7,437$11,295$7,261$25,993
Fees for Services Accounting$6,480$9,842$6,327$22,649
Other Expenses$4,425$6,721$4,321$15,467
Insurance$3,898$5,920$3,806$13,624
Depreciation Depletion$3,505$5,324$3,423$12,252
Travel$692$1,050$675$2,417
Fees for Services Legal$20$30$20$70
Total Functional Expenses$6,501,779$452,216$216,994$7,170,989

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$7,170,989
Expenses per Audited Statements$7,062,182
Total Expenses per Audited Statements$7,062,182
Expenses Not Reported on Financial Statements$108,807
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
First Arp Church of GastoniaGastonia, NC501(c)(3)General Support$734,366
Gaston County Family YmcaGastonia, NC501(c)(3)General Support$724,382
First United Methodist Church of GastoniaGastonia, NC501(c)(3)General Support$331,850
First Presbyterian Church of GastoniaGastonia, NC501(c)(3)General Support$178,832
Boys and Girls Clubs of Greater GastonGastonia, NC501(c)(3)General Support$174,085
United Way of Gaston CountyCharlotte, NC-General Support$134,633
Daniel Stowe Botanical GardenBelmont, NC501(c)(3)General Support$134,520
Piedmont Council Boy Scouts of AmericaDavidson, NC501(c)(3)General Support$117,527
Gaston College Foundation IncDallas, NC501(c)(3)General Support$117,479
Salvation ArmyGastonia, NC501(c)(3)General Support$106,551
Moments of Hope ChurchCharlotte, NC501(c)(3)General Support$89,000
Crisis Assistance MinistryGastonia, NC501(c)(3)General Support$88,450
Gaston Day SchoolGastonia, NC501(c)(3)General Support$83,571
Schiele MuseumCharlotte, NC501(c)(3)General Support$79,635
Rotary Foundation of Gaston CountyMcadenville, NC501(c)(3)General Support$71,750
Holy Angels IncBelmont, NC501(c)(3)General Support$68,817
Gastonia Potters House IncLowell, NC501(c)(3)General Support$66,145
Covenant Presbyterian ChurchCharlotte, NC501(c)(3)General Support$65,000
Gaston Literacy Council IncGastonia, NC501(c)(3)General Support$61,868
Grace Baptist ChurchMount Holly, NC501(c)(3)General Support$60,000
Girl Scouts Carolinas Peaks to PiedmontColfax, NC501(c)(3)General Support$56,985
Voices for Kids IncWinstonsalem, NC-General Support$56,625
Gaston County Family PromiseGastonia, NC501(c)(3)General Support$56,598
Backpack Weekend Food Program IncGastonia, NC501(c)(3)General Support$55,151
University of North Carolina Chapel HillColumbia, SC-General Support$54,667
Gaston TogetherGastonia, NC501(c)(3)General Support$52,542
Gaston County Health DeptGastonia, NC501(c)(3)General Support$52,477
Higher Education Works FoundationRaleigh, NC501(c)(3)General Support$50,000
Crisis Pregnancy CenterGastonia, NC501(c)(3)General Support$49,689
Dream Center of Gaston CountyGastonia, NCGovernmentGeneral Support$46,050
Davidson United Methodist ChurchDavidson, NC501(c)(3)General Support$40,000
Philadelphia Evangelical Lutheran ChurchGastonia, NC501(c)(3)General Support$40,000
First Presbyterian Church of BelmontBelmont, NC501(c)(3)General Support$39,976
Gaston HospiceGastonia, NC501(c)(3)General Support$38,172
Unc CharlotteGastonia, NC-General Support$37,500
Lutheran Church of the Holy ComforterBelmont, NC501(c)(3)General Support$35,000
Catawba Lands ConservancyCharlotte, NC501(c)(3)General Support$33,116
With Friends IncGastonia, NC-General Support$32,804
Gaston Aquatics IncGastonia, NC501(c)(3)General Support$30,213
Smile for a Lifetime FoundationCharlotte, NC501(c)(3)General Support$28,500
Gaston Christian School IncGastonia, NC501(c)(3)General Support$27,957
Habitat for Humanity of Gaston CountyGastonia, NC501(c)(3)General Support$27,500
Gaston School of the ArtsGastonia, NC501(c)(3)General Support$25,482
Gaston Innovation GroupBelmont, NC501(c)(3)General Support$25,000
Heart Society of Gaston County IncGastonia, NC501(c)(3)General Support$24,784
Off the Streets Program IncSt Louis, MO501(c)(3)General Support$24,375
Cornerstone Christian CenterGastonia, NC501(c)(3)General Support$22,379
Victory Farm IncGastonia, NC-General Support$22,258
Animal League of Gaston CountyGastonia, NC501(c)(3)General Support$22,134
Lincoln County Historical AssociationLincolnton, NC501(c)(3)General Support$21,874
Mount Holly Farmers MarketMount Holly, NC501(c)(3)General Support$21,110
Holy Communion Lutheran ChurchDallas, NC501(c)(3)General Support$20,622
Camp SunshineDecatur, GA501(c)(3)General Support$20,477
Gaston County SchoolsGastonia, NC501(c)(3)General Support$20,420
City of BelmontBelmont, NC501(c)(3)General Support$20,000
Greater Hopewell Full Gospel ChurchGastonia, NC501(c)(3)General Support$20,000
UmarCharlotte, NC-General Support$20,000
Young Life Gaston County--General Support$19,880
Cathy Mabry Cloninger Center - Domestic Violence ShelterGastonia, NCGovernmentGeneral Support$19,314
Least of These CarolinasGastonia, NC501(c)(3)General Support$19,287
Nc State UniversityCornelius, NC501(c)(3)General Support$18,983
Mended HeartsGastonia, NC501(c)(3)General Support$18,914
Friends of the Gaston Co Public LibraryGastonia, NC501(c)(3)General Support$18,750
Shining Hope FarmsColorado Springs, COGovernmentGeneral Support$17,891
Gaston Arts CouncilGastonia, NC501(c)(3)General Support$17,800
Belmont Community OrganizationBelmont, NC501(c)(3)General Support$17,593
Tri-county Animal Rescue IncCharlotte, NC501(c)(3)General Support$17,189
Bit of Hope RanchGastonia, NC501(c)(3)General Support$17,125
Hospice of Rutherford CountyForest City, NC501(c)(3)General Support$17,000
Fellowship of Christian AthletesGastonia, NC501(c)(3)General Support$16,776
Gardner-webb UniversityBoiling Springs, NC501(c)(3)General Support$15,331
Gaston Family Health Services IncGastonia, NC501(c)(3)General Support$15,250
Climb for HaitiHuxley, IA501(c)(3)General Support$15,000
Playing for OthersGastonia, NC501(c)(3)General Support$15,000
Cancer Services of Gaston County IncGastonia, NC501(c)(3)General Support$14,850
Gaston County Education FoundationGastonia, NCGovernmentGeneral Support$14,750
Girls on the Run of the FoothillsGastonia, NC501(c)(3)General Support$14,678
Temple EmanuelAlexis, NC501(c)(3)General Support$13,625
First Presbyterian Church of StanleyStanley, NCGovernmentGeneral Support$13,000
Habitat for Humanity CharlotteCharlotte, NC501(c)(3)General Support$13,000
High Point UniversityHigh Point, NC501(c)(3)General Support$13,000
Baptist State Convention of North CarolinaPleasant Garden, NC501(c)(3)General Support$12,685
Gaston Area Lutheran FoundationGastonia, NC501(c)(3)General Support$12,685
CATHERINE'S HOUSE INCBelmont, NC501(c)(3)General Support$12,539
Ignited Minds ChildcareGastonia, NC501(c)(3)General Support$12,526
North Charlotte Rowing IncLowell, NC501(c)(3)General Support$12,442
First Presbyterian Church of Mt HollyMount Holly, NC501(c)(3)General Support$12,410
Gaston Residential Services IncGastonia, NC501(c)(3)General Support$11,333
Second Harvest Food Bank of MetrollinaMount Holly, NCGovernmentGeneral Support$11,250
Nc a & T UniversityDallas, NC501(c)(3)General Support$11,000
Now OutreachGastonia, NC501(c)(3)General Support$11,000
Webb Street SchoolCullowhee, NC-General Support$10,817
Place of RefugeCharlotte, NC501(c)(3)General Support$10,761
Myers Park Um ChurchCharlotte, NC501(c)(3)General Support$10,600
Western Carolina UniversityGastonia, NC-General Support$10,500
BAPTIST CHILDREN'S HOME OF NC INCThomasville, NC501(c)(3)General Support$10,331
Belmont Abbey CollegeBelmont, NC501(c)(3)General Support$10,261
LORAY GIRLS' HOME INCGastonia, NCGovernmentGeneral Support$10,048
American Red Cross Carolina Piedmont RegionCharlotte, NC501(c)(3)General Support$10,000
Boys and Girls Clubs of Wake CountyRaleigh, NC501(c)(3)General Support$10,000
Catawba Rivekeeper FoundationCharlotte, NC501(c)(3)General Support$10,000
Letourneau UniversityLongview, TX501(c)(3)General Support$10,000
Low Country Habitat for HumanityBeuafort, SC501(c)(3)General Support$10,000
Pines at DavidsonGastonia, NC501(c)(3)General Support$10,000
Pleasant Ridge Elementary SchoolCharlotte, NC501(c)(3)General Support$10,000
Stowe Family YmcaSummerville, SC501(c)(3)General Support$10,000
Unity Classical Charter SchoolChapel Hill, NC-General Support$10,000
University of South CarolinaCharlotte, NC-General Support$10,000
Socks IncGastonia, NCGovernmentGeneral Support$9,439
Cherryville Area MinistriesCherryville, NC501(c)(3)General Support$9,425
Gaston Community ChurchGastonia, NCGovernmentGeneral Support$9,000
Gaston County Museum of Art & HistoryDallas, NC501(c)(3)General Support$8,905
Dallas Christian MinistryDallas, NC501(c)(3)General Support$8,390
American Red Cross Gaston CountyGastonia, NC501(c)(3)General Support$8,127
Classroom CentralCharlotte, NC501(c)(3)General Support$8,014
Junior Achievement of Gaston CountyCharlotte, NC501(c)(3)General Support$7,885
Queens University of CharlotteGastonia, NC501(c)(3)General Support$7,750
Charlotte Country Day SchoolCharlotte, NC501(c)(3)General Support$7,500
First United Methodist Church of BelmontBelmont, NC501(c)(3)General Support$7,500
Forestview High SchoolGastonia, NC501(c)(3)General Support$7,453
ST MARK'S EPISCOPAL CHURCHBelmont, NC501(c)(3)General Support$7,400
Davidson CollegeDavidson, NC501(c)(3)General Support$7,350
Optimist International FoundationDallas, NC501(c)(3)General Support$7,258
Nc State FoundationRaleigh, NC501(c)(3)General Support$7,250
Camp Sertoma of Gaston CountyDallas, NC501(c)(3)General Support$7,090
East Carolina UniversityGreenville, NC501(c)(3)General Support$7,000
Appalachian State UniversityBoone, NCGovernmentGeneral Support$6,750
Howard UniversityWashington, DC501(c)(3)General Support$6,750
Junior League of Gaston CountyGastonia, NC501(c)(3)General Support$6,651
Gaston Music Education FoundationGastonia, NC501(c)(3)General Support$6,554
Charlotte Wine and Food WeekendCharlotte, NC501(c)(3)General Support$6,500
Rotary Community Garden of Gastonia IncGastonia, NC501(c)(3)General Support$6,438
Gaston CollegeDallas, NC501(c)(3)General Support$6,413
Gastonia Sister Cities IncGastonia, NC501(c)(3)General Support$6,261
Faith Hope and Love Fellowship Worship CenterGastonia, NC501(c)(3)General Support$6,000
Summerville Church of ChristGastonia, NCGovernmentGeneral Support$6,000
Black Mountain Home for Children Youth and FamiliesBlack Mountain, NC501(c)(3)General Support$5,950
Smith Cemetery Historic Preservation AssociationCentral, SC501(c)(3)General Support$5,950
Covenant Community School IncGastonia, NC501(c)(3)General Support$5,898
Liberty UniversityLynchburg, VA501(c)(3)General Support$5,859
Christ Community Baptist ChurchGastonia, NCGovernmentGeneral Support$5,781
Crowders Ridge Camp & Retreat CenterLowell, NC501(c)(3)General Support$5,617
Gaston Community Concert BandGastonia, NC501(c)(3)General Support$5,579
Covenant Baptist ChurchGastonia, NC501(c)(3)General Support$5,554
First Wesleyan Christian SchoolGastonia, NC501(c)(3)General Support$5,554
Southern Wesleyan UniversityGastonia, NC501(c)(3)General Support$5,554
Erskine CollegeDue West, SC501(c)(3)General Support$5,500
NavigatorsAlbert Lea, MNGovernmentGeneral Support$5,500
Urban Ministry CenterGastonia, NC-General Support$5,500
Wake Forest UniversityGastonia, NC-General Support$5,500
Bread IncGastonia, NC501(c)(3)General Support$5,491
Mount Holly Community GardenMount Holly, NC501(c)(3)General Support$5,388
African American Museum of History & Culture at Loray MillGastonia, NC501(c)(3)General Support$5,300
Nc Cooperative Extension ServiceRaleigh, NC501(c)(3)General Support$5,284
Covenant Village IncGastonia, NC501(c)(3)General Support$5,100
Maylo United Methodist ChurchGastonia, NC501(c)(3)General Support$5,100
American Legion Post 23Gastonia, NC501(c)(3)General Support$5,042
Little Theatre of GastoniaGastonia, NC501(c)(3)General Support$5,007

International Summary

Offices
0
Employees
0
Spending
$17,623,163

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$13,051,920
Europe (including Iceland & Greenland)Investments-00$4,571,243
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities Payable$1,494,167
Annuity Remainder Payable$85,469
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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 B, Line 11B

“In order to protect the privacy of the donors, a public disclosure copy of form 990 is circulated via us mail or e-mailed to all board directors before the form is filed.”

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

“Board members review annually for any conflicts of interest. The president and financial coordinator review all transactions to ensure compliance. In the event of a potential conflict, that member will recuse themselves from all discussion and vote.”

Form 990, Part VI, Section B, Line 15

“The executive committee reviews compensation and compares to the data available through the council on foundations. All discussions are documented in the meeting minutes.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Gaston Community Foundation
EIN
58-1340834
Phone
7048640927
Address
PO BOX 123, GASTONIA, NC 28053

Signing Officer

Name
Ernest W Sumner
Title
President
Phone
7048640927
Signed
2020-06-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ernest W Sumner
Formed
1978
Legal Domicile
Nc
Voting Board Members
20
Independent Board Members
20
Employees
7
Volunteers
250

Preparer

Firm
Cherry Bekaert Llp
Address
1111 METROPOLITAN AVE STE 900, CHARLOTTE, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in cash surrender value of life insurance 21,322. Change in value of annuity obligations 229,974.”

Financial Statement Notes

PART IV, LINE 2B:

“When a fund is established at gcf with funds contributed by an organization (the "donor") and the donor is also named the beneficiary of the fund and receives distributions of income, subject to gcf's spending policy, it is considered a reciprocal transfer in accordance with asc 958-605. Accordingly, gcf reports such funds as assets with an offsetting liability.”

PART V, LINE 4:

“The foundation's endowment consists of 44 individual donor restricted funds established for a variety of purposes. Net assets associated with endowment funds, including funds designated by the board of directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.”

PART X, LINE 2:

“The foundation is exempt from federal income tax under the provisions of section 501(c)(3) of the internal revenue code ("irc"). In accordance with irc regulations, the foundation is taxed on unrelated business income, which consists of earnings from activities not related to the exempt purpose of the foundation. The foundation accounts for tax uncertainties based on a more likely than not recognition threshold whereby tax benefits are only recognized when the foundation believes that they have a greater than 50% likelihood of being sustained upon examination by taxing authorities. The foundation has evaluated all of its tax positions and determined that it had no uncertain income tax positions as of december 31, 2019 or 2018. Management believes that the foundation continues to satisfy the requirements of a tax exempt organization and is not subject to tax. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Change in cash surrender value of life insurance 21,322. Change in value of annuity obligations 229,974.”

Raw XML AppendixShowing 400 of 2,076 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0203994
IRS990/ProgSrvcAccomActy2Grp/Desc0GASTON COMMUNITY FOUNDATION MAKES UNRESTRICTED GRANTS TO ORGANIZATIONS AND PROGRAMS OPERATING IN GASTON COUNTY OR PRIMARILY FOR THE BENEFIT OF GASTON COUNTY CITIZENS THROUGH AN ANNUAL COMPETITIVE GRANT APPLICATION PROCESS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01702911
IRS990/ProgSrvcAccomActy2Grp/GrantAmt01702911
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03783018
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt06713082
IRS990/PYInvestmentIncomeAmt02800799
IRS990/PYOtherExpensesAmt0443702
IRS990/PYOtherRevenueAmt018220
IRS990/PYProgramServiceRevenueAmt0226511
IRS990/PYRevenuesLessExpensesAmt0-776665
IRS990/PYSalariesCompEmpBnftPaidAmt0448429
IRS990/PYTotalExpensesAmt07605213
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06828548
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-629394

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$92,745,726
Liabilities
$23,774,861
Net assets
$68,970,865
Revenue
$6,541,595
Expenses
$7,170,989
Net income
-$629,394
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$145$45.2$100$12.1$11.5$0.60
2023Summary only. Only limited summary data is available for this year.$126$32.8$93.4$9.26$8.94$0.32
2022Summary only. Only limited summary data is available for this year.$120$32.4$87.7$14.0$7.15$6.84
2021Summary only. Only limited summary data is available for this year.$125$30.1$94.6$17.6$7.22$10.4
2020Summary only. Only limited summary data is available for this year.$103$25.9$76.8$6.89$6.13$0.77
2019Detailed filing. Detailed filing data is available for this year.$92.7$23.8$69.0$6.54$7.17$0.63
2018Summary only. Only limited summary data is available for this year.$83.3$22.5$60.9$6.83$7.61$0.78
2017Summary only. Only limited summary data is available for this year.$97.0$28.8$68.2$10.6$8.27$2.37
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$84.1$23.9$60.3$7.14$5.83$1.30
2015Detailed filing. Detailed filing data is available for this year.$81.6$23.2$58.4$17.3$5.91$11.4
2014Detailed filing. Detailed filing data is available for this year.$72.9$22.9$50.0$7.48$4.77$2.71
2013Detailed filing. Detailed filing data is available for this year.$70.0$21.7$48.3$8.11$4.62$3.49
2012Summary only. Only limited summary data is available for this year.$60.2$18.1$42.1$3.99$3.86$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.6$13.9$38.7$3.42