Civic Intelligence

The Community Foundation of Gaston County Inc

990 • Fiscal year 2017 • EIN 58-1340834

Jan 01, 2017 to Dec 31, 2017 • Filed on May 11, 2018

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

50th percentile

0.30x

Higher debt load relative to assets than 50% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

87th percentile

2.71x

Higher debt load relative to revenue than 87% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

80th percentile

22%

Higher net margin than 80% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$153,026

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

80th percentile

15%

Faster asset growth than 80% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

88th percentile

49%

Faster revenue growth than 88% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets50th percentile

Assets

Flat

$97,010,137

Flat from 2017

Net Assets

Flat

$68,163,066

Flat from 2017

Liabilities

Flat

$28,847,071

Flat from 2017

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin80th percentile

Revenue

Flat

$10,638,126

Flat from 2017

Expenses

Flat

$8,266,067

Flat from 2017

Net Income

Flat

$2,372,059

Flat from 2017

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 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

2017

Assets$97,010,137
Liabilities$28,847,071
Net Assets$68,163,066
Open 2017 Filing

Operations Trend

Revenue Growth88th 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 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

2017

Revenue$10,638,126
Expenses$8,266,067
Net Income$2,372,059
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 11, 2018
Return Version
2017v2.2
Gross Receipts
$24,240,349
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$72,904,392$82,972,205▲ $10,067,813
Investments Other Securities$9,202,282$11,211,048▲ $2,008,766
Cash and Non-Interest-Bearing Accounts$1,088,652$1,834,916▲ $746,264
Land, Buildings, and Equipment, Net$559,799$562,171▲ $2,372
Accounts Receivable$3,211$92,163▲ $88,952
Prepaid Expenses and Deferred Charges$18,529$18,839▲ $310
Total Assets$84,122,549$97,010,137▲ $12,887,588
Other Assets Total$345,684$318,795▼ $26,889
Liabilities
Escrow Account Liability$21,499,569$25,582,337▲ $4,082,768
Other Liabilities$1,876,777$1,775,394▼ $101,383
Grants Payable$483,489$1,489,340▲ $1,005,851
Total Liabilities$23,859,835$28,847,071▲ $4,987,236
Net Assets / Fund Balance
Temporarily Rstr Net Assets$33,136,374$40,289,078▲ $7,152,704
Unrestricted Net Assets$14,403,133$15,063,061▲ $659,928
Permanently Rstr Net Assets$12,723,207$12,810,927▲ $87,720
Total Net Assets Fund Balance$60,262,714$68,163,066▲ $7,900,352
Total Liabilities and Net Assets / Fund Balance$84,122,549$97,010,137▲ $12,887,588

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$30,619$86,514$117,133
Leasehold Improvements$12,850$5,380$18,230
Land$518,702--
Other Securities$11,211,048--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2014$13,468,998$675,169▲ $559,506-$14,243,746
2013$10,917,168$1,538,479▲ $1,485,483-$13,468,998
Compensation and Service Providers
Top Officer Pay12th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ernest W SumnerPresidentFT$137,500$15,526$153,026

Board Members and Trustees

NameTitle
Richard K CraigBoard Chair
Tim EfirdBoard Vice Chair
David R RatchfordDevelopment Director
Anderson D WarlickDirector
Arthur M Spencer IvDirector
Charlton K Torrence JrDirector
Christa H HeiligDirector
Dr Ben HintonDirector
Dr Johnathan D WilliamsDirector
Fred JacksonDirector
Laurie NessDirector
May C BargerDirector
May RobinsonDirector
Nancy PaschallDirector
Robert S BrowneDirector
Robert S PearsonDirector
Steven D LongDirector
Vann M Matthews IiiDirector
Ronald M SytzGrants Director
Gene R Matthews IiInvestment Director
Bill CarstarphenSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,588,539
Program Service Revenue
$201,570
Investment Income
$2,550,037
Other Revenue
$297,980
All Other Contributions
$7,588,539
Change in Net Assets
$2,372,059

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 Traded46$2,383,681Fair Market Value
Total Noncash Contributions46$2,383,681-

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,638,126
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,528,293
Total Revenue per Audited Statements
$16,166,419
Total Revenue per Form 990
$10,638,126
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$7,442,844
Salaries, Compensation, and Employee Benefits$451,011
Other Expenses$372,212
Total Fundraising Expense$2,118
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$7,442,844--$7,442,844
Other Salaries and Wages-$227,592-$227,592
Current Officers, Directors, Trustees, and Key Employees-$153,026-$153,026
Fees for Service Investment Mgmnt Fees-$123,299-$123,299
Occupancy-$74,166-$74,166
Advertising-$38,513-$38,513
Payroll Taxes-$27,417-$27,417
Conferences and Meetings-$25,977-$25,977
Other Employee Benefits-$25,271-$25,271
Office Expenses-$24,361-$24,361
Fees for Services Accounting-$18,450-$18,450
Pension Plan Contributions-$17,705-$17,705
Information Technology-$17,204-$17,204
Insurance-$16,359-$16,359
Depreciation Depletion-$12,252-$12,252
Travel-$2,750-$2,750
Other Expenses-$2,026$2,118$2,026
Total Functional Expenses$7,442,844$821,105$2,118$8,266,067

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,266,067
Total Expenses per Audited Statements$8,266,067
Total Expenses per Form 990$8,266,067
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Gaston County Family YmcaGastonia, NC501(c)(3)General Support$1,365,592
First Arp ChurchGastonia, NC501(c)(3)General Support$1,365,344
First United Methodist ChurchGastonia, NC501(c)(3)General Support$256,350
Gaston County Parks and RecreationDallas, NC170(c)(1)General Support$158,028
Boys and Girls Clubs of Greater GastonGastonia, NC501(c)(3)General Support$147,930
Daniel Stowe Botanical GardenBelmont, NC501(c)(3)General Support$139,365
First Presbyterian ChurchGastonia, NC501(c)(3)General Support$121,700
Piedmont Council Boy Scouts of AmericaGastonia, NC501(c)(3)General Support$111,213
Forest Hill ChurchCharlotte, NC501(c)(3)General Support$105,000
Carolina Thread TrailCharlotte, NC501(c)(3)General Support$100,000
Gaston College Foundation IncDallas, NC501(c)(3)General Support$93,637
Salvation ArmyGastonia, NC501(c)(3)General Support$89,952
Least of These CarolinasGastonia, NC501(c)(3)General Support$73,968
Schiele MuseumGastonia, NC501(c)(3)General Support$69,960
Gaston Day SchoolGastonia, NC501(c)(3)General Support$68,689
Habitat for Humanity of Gaston CountyGastonia, NC501(c)(3)General Support$65,210
Covenant Presbyterian ChurchCharlotte, NC501(c)(3)General Support$65,000
Holy Angels IncBelmont, NC501(c)(3)General Support$64,961
University of North CarolinaChapel Hill, NC170(c)(1)General Support$63,750
Crisis Assistance MinistryGastonia, NC501(c)(3)General Support$63,438
Davidson CollegeDavidson, NC501(c)(3)General Support$61,500
Grace Baptist ChurchMount Holly, NC501(c)(3)General Support$60,000
Girl Scouts Carolinas Peaks to PieColfax, NC501(c)(3)General Support$58,407
United Way of Gaston CountyGastonia, NC501(c)(3)General Support$57,493
Backpack Weekend Food Program IncGastonia, NC501(c)(3)General Support$54,378
Gaston County Health DeptGastonia, NC170(c)(1)General Support$50,371
Smile for a Lifetime FoundationColorado Springs, CO501(c)(3)General Support$50,000
Gaston HospiceGastonia, NC501(c)(3)General Support$49,550
Gaston County Education FoundationGastonia, NC501(c)(3)General Support$46,775
Voices for Kids IncGastonia, NC501(c)(3)General Support$46,530
Davidson United Methodist ChurchDavidson, NC501(c)(3)General Support$45,000
Temple EmanuelGastonia, NC501(c)(3)General Support$44,406
Philadelphia Evangelical Lutheran ChurchDallas, NC501(c)(3)General Support$42,900
Gaston County SchoolsGastonia, NC170(c)(1)General Support$42,780
Webb Street SchoolGastonia, NC501(c)(3)General Support$41,679
Mussar Institute SocietyPinecrest, FL501(c)(3)General Support$40,000
Gastonia Potters House IncLowell, NC501(c)(3)General Support$39,115
Gaston School of the ArtsGastonia, NC501(c)(3)General Support$38,501
Crisis Pregnancy CenterGastonia, NC501(c)(3)General Support$37,300
Belmont Abbey CollegeBelmont, NC501(c)(3)General Support$34,096
Catawba Lands ConservancyCharlotte, NC501(c)(3)General Support$33,515
Shelter of Gaston CountyGastonia, NC501(c)(3)General Support$33,176
Friends of the Gaston Co Public LibraryGastonia, NC501(c)(3)General Support$32,765
Unc CharlotteCharlotte, NC170(c)(1)General Support$30,590
Nc State UniversityRaleigh, NC170(c)(1)General Support$29,250
With Friends IncGastonia, NC501(c)(3)General Support$29,218
Gaston County Family PromiseGastonia, NC501(c)(3)General Support$28,432
Covenant Village IncGastonia, NC501(c)(3)General Support$27,000
Girls on the Run InternationalAtlanta, GA501(c)(3)General Support$26,786
Cornerstone Christian CenterGastonia, NC501(c)(3)General Support$24,947
Lincoln County Historical AssociatLincolnton, NC501(c)(3)General Support$24,347
Bit of Hope RanchGastonia, NC501(c)(3)General Support$24,294
Gaston Literacy Council IncGastonia, NC501(c)(3)General Support$23,883
Dream Center of Gaston CountyGastonia, NC501(c)(3)General Support$23,533
Stanley Pentecostal ChurchStanley, NC501(c)(3)General Support$23,400
Socks IncMcadenville, NC501(c)(3)General Support$22,860
Off the Streets Program IncGastonia, NC501(c)(3)General Support$22,174
Second Harvest Food Bank of MetrolinaCharlotte, NC501(c)(3)General Support$22,150
Covenant Baptist ChurchGastonia, NC501(c)(3)General Support$21,561
Shining Hope FarmsMount Holly, NC501(c)(3)General Support$21,485
Gardner-webb UniversityBoiling Springs, NC501(c)(3)General Support$21,091
Gaston Residential Services IncGastonia, NC501(c)(3)General Support$20,875
Animal League of Gaston CountyGastonia, NC501(c)(3)General Support$20,483
Gaston CollegeDallas, NC501(c)(3)General Support$20,451
First Presbyterian Church of BelmontBelmont, NC501(c)(3)General Support$19,647
Cancer Services of Gaston County IncGastonia, NC501(c)(3)General Support$19,111
Belmont Community OrganizationBelmont, NC501(c)(3)General Support$19,074
Mount Holly Farmers MarketMount Holly, NC501(c)(3)General Support$18,937
Tri-county Animal Rescue IncAlexis, NC501(c)(3)General Support$17,669
Gaston TogetherGastonia, NC501(c)(3)General Support$17,576
Hospice of Rutherford CountyForest City, NC501(c)(3)General Support$17,500
Fellowship of Christian AthletesGastonia, NC501(c)(3)General Support$17,153
Young Life Gaston CountyGastonia, NC501(c)(3)General Support$16,565
Gaston Family Health Services IncGastonia, NC501(c)(3)General Support$16,273
MiraviaCharlotte, NC501(c)(3)General Support$16,273
CATHERINE'S HOUSE INCBelmont, NC501(c)(3)General Support$15,673
Camp SunshineGastonia, NC501(c)(3)General Support$15,593
Heart Society of Gaston County IncGastonia, NC501(c)(3)General Support$15,089
Appalachian State UniversityBoone, NC170(c)(1)General Support$15,000
Belmont Trolley IncBelmont, NC501(c)(3)General Support$15,000
Nc State Engineering FoundationRaleigh, NC501(c)(3)General Support$15,000
Ursinus United Church of ChristRockwell, NC501(c)(3)General Support$15,000
Gaston Christian School IncGastonia, NC501(c)(3)General Support$14,335
Gaston Arts CouncilGastonia, NC501(c)(3)General Support$13,376
Brevard CollegeBrevard, NC501(c)(3)General Support$13,250
Presbyterian Samaritan Counseling CenterCharlotte, NC501(c)(3)General Support$12,900
Baptist State Convention of North CaroliPleasant Garden, NC501(c)(3)General Support$12,834
Gaston Area Lutheran FoundationGastonia, NC501(c)(3)General Support$12,834
Mount Holly Historical SocietyMount Holly, NC501(c)(3)General Support$12,156
High Point UniversityHigh Point, NC501(c)(3)General Support$12,000
Western Carolina UniversityCullowhee, NC170(c)(1)General Support$11,750
Cherryville Area MinistriesCherryville, NC501(c)(3)General Support$11,481
Optimist International FoundationSt Louis, MO501(c)(3)General Support$10,821
Victory Farm IncGastonia, NC501(c)(3)General Support$10,785
LORAY GIRLS' HOME INCGastonia, NC501(c)(3)General Support$10,708
Erskine CollegeDue West, SC501(c)(3)General Support$10,500
Myers Park Um ChurchCharlotte, NC501(c)(3)General Support$10,500
Mended HeartsGastonia, NC501(c)(3)General Support$10,267
Adventures in MissionsAtlanta, GA501(c)(3)General Support$10,000
City of CherryvilleCherryville, NC170(c)(1)General Support$10,000
First Presbyterian Church of Mt HollyMount Holly, NC501(c)(3)General Support$10,000
Golden Door ScholarsFort Mill, SC501(c)(3)General Support$10,000
Lucy Daniels Center for Early ChildhoodCary, NC501(c)(3)General Support$10,000
Pleasant Ridge Elementary SchoolGastonia, NC501(c)(3)General Support$10,000
Stowe Family YmcaBelmont, NC501(c)(3)General Support$10,000
World WitnessGreenville, SC501(c)(3)General Support$10,000
Nc Center for Applied TechnologyBelmont, NC501(c)(3)General Support$9,561
BAPTIST CHILDREN'S HOME OF NC INCThomasville, NC501(c)(3)General Support$9,341
Covenant Community School IncGastonia, NC501(c)(3)General Support$9,013
Gastonia Police FoundationGastonia, NC501(c)(3)General Support$9,008
North Charlotte Rowing IncCornelius, NC501(c)(3)General Support$9,000
Gaston County Museum of Art & HistoryDallas, NC501(c)(3)General Support$8,883
Salvation Army Boys & Girls ClubGastonia, NC501(c)(3)General Support$8,811
Arc of Gaston CountyGastonia, NC501(c)(3)General Support$8,566
Brice FoundationGastonia, NC501(c)(3)General Support$8,509
Christ Community Baptist ChurchGastonia, NC501(c)(3)General Support$8,500
Classroom CentralCharlotte, NC501(c)(3)General Support$8,070
Gaston Humane Society IncGastonia, NC501(c)(3)General Support$7,737
Place of RefugeGastonia, NC501(c)(3)General Support$7,705
Habitat for Humanity CharlotteCharlotte, NC501(c)(3)General Support$7,500
KING'S DAUGHTERS MINISTRYStanley, NC501(c)(3)General Support$7,500
Liberty UniversityLynchburg, VA501(c)(3)General Support$7,500
Unc - WilmingtonWilmington, NC170(c)(1)General Support$7,500
University of FloridaGainesville, FL170(c)(1)General Support$7,500
Mount Holly Community Relief OrganizationMount Holly, NC501(c)(3)General Support$7,430
Queen of the Apostles Roman CatholicBelmont, NC501(c)(3)General Support$7,000
Phoenix Counseling CenterMooresville, NC501(c)(3)General Support$6,902
ST MARK'S EPISCOPAL CHURCHGastonia, NC501(c)(3)General Support$6,900
Gaston Community Concert BandGastonia, NC501(c)(3)General Support$6,820
Prevent Child Abuse GastonGastonia, NC501(c)(3)General Support$6,633
Bread IncGastonia, NC501(c)(3)General Support$6,613
Dallas-high Shoals Christian Social Ministry IncDallas, NC501(c)(3)General Support$6,314
Black Mountain Home for Children Youth and FamiliesBlack Mountain, NC501(c)(3)General Support$6,250
Let Me Run - Gaston Co DhhsGastonia, NC170(c)(1)General Support$6,141
Gastonia Sister Cities IncGastonia, NC501(c)(3)General Support$6,075
All Saints Episcopal ChurchGastonia, NC501(c)(3)General Support$6,000
Telling the TruthMilwaukee, WI501(c)(3)General Support$6,000
Junior Achievement of Gaston CountyCharlotte, NC501(c)(3)General Support$5,995
First Wesleyan Christian SchoolGastonia, NC501(c)(3)General Support$5,561
Southern Wesleyan UniversityCentral, SC501(c)(3)General Support$5,561
Little Theatre of GastoniaGastonia, NC501(c)(3)General Support$5,554
Rotary Community Garden of Gastonia IncGastonia, NC501(c)(3)General Support$5,500
American Red Cross Gaston CountyGastonia, NC501(c)(3)General Support$5,440
Belmont Historical Society IncBelmont, NC501(c)(3)General Support$5,371
Gaston Music Education FoundationGastonia, NC501(c)(3)General Support$5,302
Hope 4 GastonGastonia, NC501(c)(3)General Support$5,134

International Summary

Offices
0
Employees
0
Spending
$10,156,407

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$6,036,054
Europe (including Iceland & Greenland)Investments-00$4,120,353
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$1,689,236
Annuity Remainder Payable$86,158
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 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
The Community Foundation of
EIN
58-1340834
Phone
7048640927
Address
PO BOX 123, GASTONIA, NC 28053

Signing Officer

Name
Ernest Sumner
Title
President
Phone
7048640927
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ernest Sumner
Formed
1978
Legal Domicile
Nc
Voting Board Members
21
Independent Board Members
21
Employees
7
Volunteers
250

Preparer

Firm
Cherry Bekaert Llp
Address
1111 METROPOLITAN AVE STE 1000, CHARLOTTE, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Csv of life insurance 5,032. Change in value of split interest agreements 286,719.”

Financial Statement Notes

PART IV, LINE 2B:

“When a fund is established at cfgc 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 cfgc's spending policy, it is considered a reciprocal transfer in accordance with asc 958-605. Accordingly, cfgc reports such funds as assets with an offsetting liability.”

PART V, LINE 4:

“The foundation's endowment consists of 48 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, 2017 or 2016. 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:

“Csv of life insurance policies 5,032. Change in value of split interest agreements 286,719.”

Raw XML AppendixShowing 400 of 1,955 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/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0186949
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt07588539
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt05116892
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt013720243
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04123285
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt05476063
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt036025022
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01355479

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$97,010,137
Liabilities
$28,847,071
Net assets
$68,163,066
Revenue
$10,638,126
Expenses
$8,266,067
Net income
$2,372,059
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
2017Detailed filing. Detailed filing data is available for this year.$97.0$28.8$68.2$10.6$8.27$2.37
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