Civic Intelligence

The Community Foundation of Gaston County Inc

990 • Fiscal year 2015 • EIN 58-1340834

Jan 01, 2015 to Dec 31, 2015 • Filed on May 12, 2016

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

47th percentile

0.28x

Higher debt load relative to assets than 47% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

77th percentile

1.34x

Higher debt load relative to revenue than 77% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

95th percentile

66%

Higher net margin than 95% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

10th percentile

$139,945

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

80th percentile

12%

Faster asset growth than 80% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

97th percentile

132%

Faster revenue growth than 97% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$81,636,753

Up $8,761,684 (+12%) from 2014

Net Assets

Up

$58,406,660

Up $8,395,930 (+17%) from 2014

Liabilities

Up

$23,230,093

Up $365,754 (+1.6%) from 2014

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin95th percentile

Revenue

Up

$17,344,755

Up $9,868,558 (+132%) from 2014

Expenses

Up

$5,911,343

Up $1,141,328 (+24%) from 2014

Net Income

Up

$11,433,412

Up $8,727,230 (+322%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2015

Assets$81,636,753
Liabilities$23,230,093
Net Assets$58,406,660
Open 2015 Filing

Operations Trend

Revenue Growth97th 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

2015

Revenue$17,344,755
Expenses$5,911,343
Net Income$11,433,412
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 12, 2016
Return Version
2015v2.1
Gross Receipts
$39,103,102
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 Other Securities$70,838,325$79,453,956▲ $8,615,631
Cash and Non-Interest-Bearing Accounts$965,823$1,103,353▲ $137,530
Land, Buildings, and Equipment, Net$571,165$567,762▼ $3,403
Investments Program Related$345,170$379,502▲ $34,332
Other Notes and Loans Receivable, Net$137,520$105,119▼ $32,401
Prepaid Expenses and Deferred Charges$17,066$27,061▲ $9,995
Total Assets$72,875,069$81,636,753▲ $8,761,684
Liabilities
Other Liabilities$22,673,595$22,826,862▲ $153,267
Grants Payable$188,700$403,231▲ $214,531
Accounts Payable and Accrued Expenses$2,044$0▼ $2,044
Total Liabilities$22,864,339$23,230,093▲ $365,754
Net Assets / Fund Balance
Temporarily Rstr Net Assets$22,599,743$31,237,752▲ $8,638,009
Unrestricted Net Assets$14,896,054$14,481,123▼ $414,931
Permanently Rstr Net Assets$12,514,933$12,687,785▲ $172,852
Total Net Assets Fund Balance$50,010,730$58,406,660▲ $8,395,930
Total Liabilities and Net Assets / Fund Balance$72,875,069$81,636,753▲ $8,761,684

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$35,470$86,785$122,255
Leasehold Improvements$13,590$4,640$18,230
Land$518,702--
Other Securities$10,964,227--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$14,224,601$171,819▲ $51,528-$13,786,826
2014$13,468,998$656,024▲ $559,506-$14,224,601
2013$10,917,168$1,538,479▲ $1,485,483-$13,468,998
2012$10,187,331$129,372▲ $1,050,105$-536$10,917,168
2011$10,259,688$293,567▼ $31,901$1,000$10,185,520
Compensation and Service Providers
Top Officer Pay10th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ernest SumnerExecutive OfficerFT$125,000$14,945$139,945

Board Members and Trustees

NameTitle
Julia ShovelinPresident
Richard K CraigVice President
David R RatchfordDevelopment Director
Arthur M Spencer IVDirector
Dr Ben HintonDirector
Dr Johnathan D WilliamsDirector
Jan JacksonDirector
Kim PriceDirector
Laurie NessDirector
May C BargerDirector
Merryman CasselsDirector
Pam WarlickDirector
Robert S BrowneDirector
Robert S PearsonDirector
Sally RobinsonDirector
Steven D LongDirector
TJ Solomon IIDirector
Tim EfirdDirector
Tony SigmonDirector
Vann M Matthews IIIDirector
Ronald M SytzGrants Director
Gene R Matthews IIInvestment Director
Bill CarstarphenSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$13,720,243
Program Service Revenue
$0
Investment Income
$3,406,252
Other Revenue
$218,260
All Other Contributions
$13,720,243
Change in Net Assets
$11,433,412

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 Traded31$10,746,042Fair Market Value
Securities Closely Held Stock4$896,533Fair Market Value
Total Noncash Contributions35$11,642,575-

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,344,755
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-3,037,482
Total Revenue per Audited Statements
$14,307,273
Total Revenue per Form 990
$17,344,755
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,180,997
Salaries, Compensation, and Employee Benefits$374,276
Other Expenses$356,070
Total Fundraising Expense$3,340
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$5,180,997--$5,180,997
Other Salaries and Wages-$171,035-$171,035
Current Officers, Directors, Trustees, and Key Employees-$139,945-$139,945
Fees for Service Investment Mgmnt Fees-$97,202-$97,202
Occupancy-$73,999-$73,999
Other Employee Benefits-$39,903-$39,903
Advertising-$35,198-$35,198
Conferences and Meetings-$29,530-$29,530
Office Expenses-$26,436-$26,436
Payroll Taxes-$23,393-$23,393
Fees for Services Other-$17,272-$17,272
Insurance-$16,151-$16,151
Information Technology-$13,289-$13,289
Depreciation Depletion-$11,078-$11,078
Other Expenses-$9,195$3,340$3,340
Travel-$1,000-$1,000
Total Functional Expenses$5,180,997$727,006$3,340$5,911,343

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,911,343
Total Expenses per Audited Statements$5,911,343
Total Expenses per Form 990$5,911,343
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Lincoln County Historical AssociatMOUNt Holly, NC501(c)(3)General Support$891,590
The Schiele Museum-501(c)(3)General Support$273,756
Boys and Girls Clubs of Greater GastonGAStonia, NC501(c)(3)General Support$179,713
First ARP Churchgastonia, NC501(c)(3)General Support$122,008
Piedmont Council Boy Scouts of AmericaCharlotte, NC501(c)(3)General Support$109,560
First Presbyterian ChurchGAStonia, NC501(c)(3)General Support$107,350
Daniel Stowe Botanical GardenDavidson, NC501(c)(3)General Support$84,591
Gaston Day SchoolGAStonia, NC501(c)(3)General Support$83,669
Crossnore School IncBelmont, NC501(c)(3)General Support$79,840
The Salvation ArmyGAStonia, NC501(c)(3)General Support$79,765
Linville FoundationMount Holly, NC501(c)(3)General Support$79,441
As One Ministries IncRaleigh, NC501(c)(3)General Support$77,558
First United Methodist ChurchCharlotte, NC501(c)(3)General Support$77,045
Holy Angels IncGastonia, NC501(c)(3)General Support$76,980
Gaston County Health DeptGastonia, NCGovernmentGeneral Support$74,766
The United Way of Gaston County-501(c)(3)General Support$67,615
Gaston College Foundation IncDallas, NC501(c)(3)General Support$63,935
Girl Scouts Carolinas Peaks to PieBelmont, NC501(c)(3)General Support$63,383
Crisis Assistance MinistryCrossnore, NC501(c)(3)General Support$62,825
Backpack Weekend Food Program IncThomasville, NC501(c)(3)General Support$58,724
Gaston Together--General Support$52,408
Crisis Pregnancy CenterDAllas, NC501(c)(3)General Support$49,750
Potters HouseGastonia, NC501(c)(3)General Support$46,630
Philadelphia Evangelical Lutheran ChurchMyrtle Beach, SC501(c)(3)General Support$44,000
Habitat for Humanity of Gaston CountyFort Mill, SC501(c)(3)General Support$43,576
Gaston County Parks and RecreationGastonia, NCGovernmentGeneral Support$42,776
Shelter of Gaston CountyChapel Hill, NC501(c)(3)General Support$40,317
Gaston County Family YMCAGastonia, NC501(c)(3)General Support$40,272
Davidson United Methodist ChurchGastonia, NC501(c)(3)General Support$40,000
First Christian ChurchGastonia, NC501(c)(3)General Support$40,000
Gaston HospiceGAStonia, NC501(c)(3)General Support$37,379
Gaston County Museum of Art & HistoryGAStonia, NC501(c)(3)General Support$36,681
Girls on the Run InternationalForest City, NC501(c)(3)General Support$33,539
Young Life Gaston County-501(c)(3)General Support$32,524
Gaston County Family PromiseGastonia, NC501(c)(3)General Support$30,447
SOCKS IncCharleston, SC501(c)(3)General Support$27,735
Belmont Abbey CollegeBelmont, NC501(c)(3)General Support$27,505
Covenant Community School IncCramerton, NC501(c)(3)General Support$25,898
Voices for Kids Inc-501(c)(3)General Support$25,871
Gaston Literacy Council IncAtlanta, GA501(c)(3)General Support$25,006
Savannahs Playground IncGastonia, NC501(c)(3)General Support$25,000
Smile for a Lifetime FoundationGastonia, NC501(c)(3)General Support$25,000
With Friends Inc-501(c)(3)General Support$24,940
American Red Cross Gaston CountyGastonia, NC501(c)(3)General Support$24,821
Belmont Community OrganizationBELmont, NC501(c)(3)General Support$24,351
Gaston Area Lutheran FoundationGastonia, NC501(c)(3)General Support$24,272
Off The Streets Program IncMcAdenville, NC501(c)(3)General Support$23,939
Gaston Faith NetworkGastonia, NC501(c)(3)General Support$23,834
Catawba Lands ConservancyBElmont, NC501(c)(3)General Support$23,524
Second Harvest Food Bank of MetrollinaAlexis, NC501(c)(3)General Support$23,022
University of North Carolina-501(c)(3)General Support$23,000
Cornerstone Christian CenterGAStonia, NC501(c)(3)General Support$22,973
Cancer Services of Gaston County IncCharlotte, NC501(c)(3)General Support$22,426
Tri-County Animal Rescue Inc-501(c)(3)General Support$21,773
Least of These GastonMount Holly, NC501(c)(3)General Support$20,405
Catherine's House IncCharlotte, NC501(c)(3)General Support$20,120
Charlotte Regional PartnershipCherryvile, NC501(c)(3)General Support$20,000
Fellowship of Christian AthletesCharlotte, NC501(c)(3)General Support$19,821
Shining Hope FarmsGastonia, NC501(c)(3)General Support$19,103
Gaston Arts CouncilGAStonia, NC501(c)(3)General Support$17,760
Gaston School of the ArtsGastonia, NC501(c)(3)General Support$17,697
Friends of the Gaston Co Public LibraryGAStonia, NC501(c)(3)General Support$17,513
Hospice of Rutherford CountyLincolnton, NC501(c)(3)General Support$17,441
Gaston Christian School IncGastonia, NC501(c)(3)General Support$16,748
Davidson CollegeOxford, OH501(c)(3)General Support$16,500
Heart Society of Gaston County IncCHARLOTte, NC501(c)(3)General Support$16,327
Loray Girls' Home IncBirmingham, AL501(c)(3)General Support$15,220
Oak Ridge Military AcademyRockford, TN501(c)(3)General Support$15,080
Prevent Child Abuse GastonColorado Springs, CO501(c)(3)General Support$14,414
Baptist State Convention of North CaroliBelmont, NC501(c)(3)General Support$13,018
ARC of Gaston CountySan Francisco, CA501(c)(3)General Support$12,690
Gaston Family Health Services IncGastonia, NC501(c)(3)General Support$12,532
Animal League of Gaston CountyGAStonia, NC501(c)(3)General Support$11,956
Cherryville Area MinistriesCherryvile, NC501(c)(3)General Support$11,686
Erskine CollegeLancaster, SC501(c)(3)General Support$11,600
Webb Street School-501(c)(3)General Support$11,556
Mount Holly Community DevelopmentLowell, NC501(c)(3)General Support$11,304
The Citadel FoundationGastonia, NC501(c)(3)General Support$11,250
Unity Place-501(c)(3)General Support$11,037
Belmont Trolley IncKanab, UT501(c)(3)General Support$11,000
Golden Door ScholarsBelmont, NC501(c)(3)General Support$11,000
Gaston County Education FoundationGastonia, NC501(c)(3)General Support$10,144
Cherryville Rotary Club FoundationGastonia, NC501(c)(3)General Support$10,000
First Presbyterian Church of Mt HollyNew York, NY501(c)(3)General Support$10,000
Forest Hill ChurchGastonia, NC501(c)(3)General Support$10,000
Greater Gaston Baptist AssociationWASHINgton, DC501(c)(3)General Support$10,000
McAdenville Baptist ChurchCharlotte, NC501(c)(3)General Support$10,000
Myers Park UM ChurchGastonia, NC501(c)(3)General Support$10,000
Now OutreachCharlotte, NC501(c)(3)General Support$10,000
Ocean View United Methodist ChurchYork, SC501(c)(3)General Support$10,000
Saving Sweet BriarGastonia, NC501(c)(3)General Support$10,000
Stowe Family YMCATopeka, KS501(c)(3)General Support$10,000
Piedmont Community Charter SchoolElemenRichmond, VA501(c)(3)General Support$9,881
Gaston Humane Society IncColfax, NC501(c)(3)General Support$9,602
Alliance for Children and YouthGAStonia, NC501(c)(3)General Support$9,383
NC Center for Applied TechnologyRaleigh, NC501(c)(3)General Support$9,315
Baptist Children's Home of NC IncPleasant Garden, NC501(c)(3)General Support$9,215
Mended HeartsAlbert Lea, MN501(c)(3)General Support$9,215
City of GastoniaCharlotte, NCGovernmentGeneral Support$9,000
Gardner-Webb UniversityDallas, NC501(c)(3)General Support$8,965
Dallas MinistryDavidson, NC501(c)(3)General Support$8,625
Classroom CentralGAStonia, NC501(c)(3)General Support$8,599
Camp Sertoma of Gaston CountyGAStonia, NC501(c)(3)General Support$8,343
Gaston Symphonic BandGastonia, NC501(c)(3)General Support$8,242
Gaston County SchoolsGastonIa, NCGovernmentGeneral Support$8,238
Mount Holly Community Relief OrganizationOak Ridge, NC501(c)(3)General Support$8,152
House of Mercy IncLinville, NC501(c)(3)General Support$8,000
BREAD IncGastonia, NC501(c)(3)General Support$7,874
Gaston Dance TheatreGastonia, NC501(c)(3)General Support$7,500
UNC Charlotte-501(c)(3)General Support$7,500
Mountain Island Charter SchoolRock Hill, SC501(c)(3)General Support$7,434
Bit of Hope RanchGastonia, NC501(c)(3)General Support$7,346
NavigatorsLowell, NC501(c)(3)General Support$7,000
Special Kare MinistriesGastonia, NC501(c)(3)General Support$6,776
Covenant Village IncGastonia, NC501(c)(3)General Support$6,741
Victory Farm Inc-501(c)(3)General Support$6,704
Brice FoundationDAllas, NC501(c)(3)General Support$6,681
Gaston Residential Services IncFort Mill, SC501(c)(3)General Support$6,609
Mount Holly Historical SocietyGAStonia, NC501(c)(3)General Support$6,517
NC State UniversityGastonia, NCGovernmentGeneral Support$6,413
Dream Center of Gaston CountyGastonia, NC501(c)(3)General Support$6,329
American Legion Post 23GAStonia, NC501(c)(3)General Support$6,055
Special Olympics of Gaston CountyGastonia, NC501(c)(3)General Support$5,830
St Mark's Episcopal ChurchGastonia, NC501(c)(3)General Support$5,783
Appalachian State UniversityGAStonia, NC501(c)(3)General Support$5,750
Gaston CollegeGastonia, NCGovernmentGeneral Support$5,722
Salvation Army Boys & Girls ClubGastonia, NC501(c)(3)General Support$5,668
W A Bess Elementary School PTO-501(c)(3)General Support$5,563
Covenant Baptist ChurchGAStonia, NC501(c)(3)General Support$5,477
First Wesleyan Christian SchoolBoiling Springs, NC501(c)(3)General Support$5,477
Southern Wesleyan UniversityGastonia, NC501(c)(3)General Support$5,477
Gaston Dance IncGAStonia, NC501(c)(3)General Support$5,433
Cramerton Middle School PTOGastonia, NC501(c)(3)General Support$5,430
Gastonia Sister Cities IncGastonia, NC501(c)(3)General Support$5,328
Junior Achievement of Gaston CountyBelmont, NC501(c)(3)General Support$5,320
Alzheimer's AssociationWashington, DC501(c)(3)General Support$5,000
American Legion PostDenver, NC501(c)(3)General Support$5,000
Arthur A Dugoni School of DentistGastonia, NC501(c)(3)General Support$5,000
Autism Society of North Carolina IncGAStonia, NC501(c)(3)General Support$5,000
Best Friends Animal SocietyGAStonia, NC501(c)(3)General Support$5,000
Community Health Partners IncGAStonia, NC501(c)(3)General Support$5,000
Delta Zeta FoundationDue West, SC501(c)(3)General Support$5,000
Fisher Center for Alzheimers Research FoGastonia, NC501(c)(3)General Support$5,000
Howard UniversityGAStonia, NCGovernmentGeneral Support$5,000
Humane Society of York CountyGAStonia, NC501(c)(3)General Support$5,000
Let Me RunMount Holly, NC501(c)(3)General Support$5,000
Montcross Area Chamber FoundationBELmont, NC501(c)(3)General Support$5,000
Multiplying Teams International IncBELmont, NC501(c)(3)General Support$5,000
Operation CAREGAStonia, NC501(c)(3)General Support$5,000
Preservation North CarolinaMOUNT Holly, NC501(c)(3)General Support$5,000
Project HALOCentral, SC501(c)(3)General Support$5,000
Remote Area MedicalBelmont, NC501(c)(3)General Support$5,000
Richardson RescueRaleigh, NC501(c)(3)General Support$5,000
Wounded Warrior Project-501(c)(3)General Support$5,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for the Benefit of Others$20,798,658
Annuities Payable$1,914,721
Annuity Remainder Payable$79,209
Other Liabilities$34,274
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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 11

“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 executive director 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
The Community Foundation of
EIN
58-1340834
Phone
7048640927
Address
PO Box 123, Gastonia, NC 28053

Signing Officer

Name
Ernest Sumner
Title
Executive Director
Phone
7048640927
Signed
2016-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ernest Sumner
Formed
1978
Legal Domicile
Nc
Voting Board Members
22
Independent Board Members
22
Employees
9
Volunteers
250

Preparer

Firm
Cherry Bekaert Llp
Address
1111 Metropolitan Ave Ste 1000, Charlotte, NC 28204
Preparer
Janice A Ratica
Phone
7043771678
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Csv of life insurance 34,332. Change in value of split interest agreements -236,611.”

Financial Statement Notes

Part V, Line 4:

“The Foundation's endowment consists of 46 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 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, 2015 or 2014. 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. Management believes the Foundation is no longer subject to tax examinations for years prior to 2012.”

Part XI, Line 2D - Other Adjustments:

“Csv of life insurance policies 34,332. Change in value of split interest agreements -236,611.”

Raw XML AppendixShowing 400 of 1,970 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/RevenueAmt030818
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt013720243
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt04123285

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$81,636,753
Liabilities
$23,230,093
Net assets
$58,406,660
Revenue
$17,344,755
Expenses
$5,911,343
Net income
$11,433,412
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
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $50M-$100M nonprofits