Civic Intelligence

Outer Banks Community Foundation Inc.

990 • Fiscal year 2022 • EIN 58-1516313

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 15, 2023

PO Box 2299Manteo, NC 27954

(252) 423-3003

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.10x

Higher debt load relative to assets than 92% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

1.03x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

Net Margin

54th percentile

8.9%

Higher net margin than 54% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$116,982

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

Asset Growth

18th percentile

-13%

Faster asset growth than 18% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

69th percentile

5.9%

Faster revenue growth than 69% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$22,456,255

Down $3,468,112 (-13%) from 2021

Net Assets

Down

$20,241,077

Down $3,833,100 (-16%) from 2021

Liabilities

Up

$2,215,178

Up $364,988 (+20%) from 2021

Revenue

Up

$2,158,972

Up $120,335 (+5.9%) from 2021

Expenses

Up

$1,966,252

Up $647,694 (+49%) from 2021

Net Income

Down

$192,720

Down $527,359 (-73%) from 2021

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $8,903,276Liabilities 2011: $324,249Net Assets 2011: $8,579,0272011Assets 2012: $9,997,620Liabilities 2012: $401,454Net Assets 2012: $9,596,1662012Assets 2013: $12,020,686Liabilities 2013: $481,414Net Assets 2013: $11,539,2722013Assets 2014: $13,186,723Liabilities 2014: $526,464Net Assets 2014: $12,660,2592014Assets 2015: $12,801,663Liabilities 2015: $514,944Net Assets 2015: $12,286,7192015Assets 2016: $14,237,684Liabilities 2016: $548,155Net Assets 2016: $13,689,5292016Assets 2017: $17,636,736Liabilities 2017: $877,196Net Assets 2017: $16,759,5402017Assets 2018: $16,261,199Liabilities 2018: $1,028,867Net Assets 2018: $15,232,3322018Assets 2019: $20,635,527Liabilities 2019: $1,343,467Net Assets 2019: $19,292,0602019Assets 2020: $22,335,559Liabilities 2020: $1,510,115Net Assets 2020: $20,825,4442020Assets 2021: $25,924,367Liabilities 2021: $1,850,190Net Assets 2021: $24,074,1772021Assets 2022: $22,456,255Liabilities 2022: $2,215,178Net Assets 2022: $20,241,0772022Assets 2023: $25,773,330Liabilities 2023: $2,779,248Net Assets 2023: $22,994,0822023Assets 2024: $27,679,487Liabilities 2024: $2,845,095Net Assets 2024: $24,834,3922024

Highlighted filing

2022

Assets$22,456,255
Liabilities$2,215,178
Net Assets$20,241,077

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $257,624Expenses 2011: $673,301Net Income 2011: -$415,6772011Revenue 2012: $892,757Expenses 2012: $714,510Net Income 2012: $178,2472012Revenue 2013: $1,182,859Expenses 2013: $540,648Net Income 2013: $642,2112013Revenue 2014: $1,820,101Expenses 2014: $664,858Net Income 2014: $1,155,2432014Revenue 2015: $1,301,340Expenses 2015: $817,580Net Income 2015: $483,7602015Revenue 2016: $1,692,727Expenses 2016: $804,423Net Income 2016: $888,3042016Revenue 2017: $2,310,251Expenses 2017: $936,491Net Income 2017: $1,373,7602017Revenue 2018: $1,392,253Expenses 2018: $890,346Net Income 2018: $501,9072018Revenue 2019: $3,220,100Expenses 2019: $1,542,501Net Income 2019: $1,677,5992019Revenue 2020: $2,638,965Expenses 2020: $2,126,208Net Income 2020: $512,7572020Revenue 2021: $2,038,637Expenses 2021: $1,318,558Net Income 2021: $720,0792021Revenue 2022: $2,158,972Expenses 2022: $1,966,252Net Income 2022: $192,7202022Revenue 2023: $2,945,091Expenses 2023: $2,710,917Net Income 2023: $234,1742023Revenue 2024: $2,579,938Expenses 2024: $2,483,562Net Income 2024: $96,3762024

Highlighted filing

2022

Revenue$2,158,972
Expenses$1,966,252
Net Income$192,720
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 15, 2023
Return Version
2022v5.0
Gross Receipts
$3,407,585
Mission and Program Overview

Mission

The outer banks community foundation manages charitable funds for individuals and agencies, and awards grants and scholarships to meet our community's most pressing needs and most promising opportunities.

The outer banks community foundation helps meet local needs across dare county and the entire outer banks. We manage charitable funds for individuals and agencies, and we target grants and scholarships toward our communitys most pressing needs and promising opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$24,802,502$21,613,711▼ $3,188,791
Savings and Temporary Cash Investments$694,206$494,372▼ $199,834
Land, Buildings, and Equipment, Net$283,675$279,799▼ $3,876
Cash and Non-Interest-Bearing Accounts$143,269$36,230▼ $107,039
Accounts Receivable$715$2,143▲ $1,428
Total Assets$25,924,367$22,456,255▼ $3,468,112
Other Assets Total-$30,000-
Liabilities
Grants Payable$1,850,190$2,196,337▲ $346,147
Accounts Payable and Accrued Expenses-$18,626-
Other Liabilities-$215-
Total Liabilities$1,850,190$2,215,178▲ $364,988
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$22,082,890$18,558,772▼ $3,524,118
Net Assets With Donor Restrictions$1,991,287$1,682,305▼ $308,982
Total Net Assets Fund Balance$24,074,177$20,241,077▼ $3,833,100
Total Liabilities and Net Assets / Fund Balance$25,924,367$22,456,255▼ $3,468,112

Asset Categories

AssetBook ValueDepreciationBasis
Land$216,000-$216,000
Buildings$43,446$40,554$84,000
Leasehold Improvements$20,353$17,761$38,114

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,653,173$12,704▼ $231,763-$1,344,191
2021$1,474,285$11,099▲ $233,910-$1,653,173
2020$1,424,814$1,500▲ $157,914-$1,474,285
2019$986,035$267,813▲ $203,212-$1,424,814
2018$1,117,581$13,392▼ $107,638-$986,035
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher SawinPresident &FT$93,462$23,520$116,982

Board Members and Trustees

NameTitle
Clark TwiddyChair
Jean-louise DixonVice Chair
Betty SelbyDirector
Claudia NealDirector
David ClawsonDirector
David ShufflebargerDirector
Jason WaughtelDirector
Noel PrestonDirector
Ray MeiggsDirector
Ruth TothDirector
Lynda HesterSecretary
Pat ReganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,356,741
Program Service Revenue
$0
Investment Income
$802,231
Other Revenue
$0
All Other Contributions
$1,356,741
Change in Net Assets
$192,720

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1,560$29,711Fair Market Value
Total Noncash Contributions1,560$29,711-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,099,067
Revenue Not Reported on Financial Statements
$59,905
Revenue Not Reported on Form 990
$-4,025,820
Total Revenue per Audited Statements
$-1,926,753
Total Revenue per Form 990
$2,158,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,433,455
Salaries, Compensation, and Employee Benefits$334,240
Other Expenses$198,557
Total Fundraising Expense$150,323
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,230,864--$1,230,864
Grants to Domestic Individuals$202,591--$202,591
Other Salaries and Wages$77,915$66,448$40,162$184,525
Current Officers, Directors, Trustees, and Key Employees$26,656$53,312$26,656$106,624
Office Expenses$24,895$18,166$32,089$75,150
Fees for Service Investment Mgmnt Fees$59,905--$59,905
Other Employee Benefits$11,732$7,013$5,369$24,114
Payroll Taxes$7,090$8,153$3,734$18,977
Fees for Services Accounting$3,334$3,333$3,333$10,000
Depreciation Depletion$1,546$1,449$881$3,876
Travel$1,355$1,515$850$3,720
Conferences and Meetings$1,225$1,149$698$3,072
Other Expenses$779-$1,816$2,595
All Other Expenses$1,552$642$390$2,584
Fees for Services Legal$616$617$617$1,850
Insurance-$1,683-$1,683
Total Functional Expenses$1,652,449$163,480$150,323$1,966,252

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,966,252
Expenses per Audited Statements$1,906,347
Total Expenses per Audited Statements$1,906,347
Expenses Not Reported on Financial Statements$59,905
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See Attached---$790,657
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
Other Liabilities$215
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
Yes
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, Page 6, Part VI, Line 7A

The foundation utilizes an independent nominating committee. The committee is made up of a community member, an emeritus director and the current board chair or their appointee. The nominating committee provides the names of the nominees to the board and the members approve their appointment to the board at the annual meeting.

Form 990, Page 6, Part VI, Line 11B

All board members, including the officers and finance committee members, are given copies of the form 990 to read and approve prior to filing.

Form 990, Page 6, Part VI, Line 12C

Staff and board members must disclose conflicts of interest annually. Board members are asked for any abstentions whenever a vote on a grant or business transaction is taken. Scholarships are not awarded to staff, board, or related individuals.

Form 990, Page 6, Part VI, Line 15A

Board approval for salaries using national surveys including grantmakers salary and benefits report compiled by council on foundations.

Form 990, Page 6, Part VI, Line 15B

Board approval for salaries using national surveys including council on foundations.

Form 990, Page 6, Part VI, Line 19

Form 990 is published on guidestar and our own website. Financial statements are also on our website. All public financial statements, governing documents, and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
Outer Banks Community Foundation
EIN
58-1516313
Phone
2524233003
Address
PO BOX 2299, MANTEO, NC 27954

Signing Officer

Name
Pat Regan
Title
Treasurer
Phone
2522618839
Signed
2023-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Sawin
Formed
1982
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
6
Volunteers
76

Preparer

Firm
Barnes Brock Cornwell & Painter Plc
Address
908 EDEN WAY N STE 201, CHESAPEAKE, VA 23320-2640
Preparer
Kimberly C Painter CPA
Phone
7579615017
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The outer banks community foundation helps meet local needs across dare county and the entire outer banks. We manage charitable funds for individuals and agencies, and we target grants and scholarships toward our communitys most pressing needs and promising opportunities.

Form 990, Page 12, Part XII, Line 1

The organization changed its accounting method from cash to accrual.

Financial Statement Notes

Schedule D, Page 3, Part X

Liability for uncertain tax positions under fin 48 footnote: the foundation adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles, with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a return, only when it is determined that the income tax position will more- likely-than-not be sustained upon examination by taxing authorities. The foundation has analyzed the tax positions taken in its filings with the internal revenue service. The foundation believes that its income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse affect on the foundation's financial condition, results of operations or cash flows. Accordingly, the foundation has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at december 31, 2022.

Schedule D, Page 4, Part XIII

The foundation's federal return of organization exempt from income tax (form 990) for 2022, 2021, 2020, and 2019 are subject to examination by the irs, generally, for three years after they were filed.

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IRS990/Desc0OUTER BANKS COMMUNITY FOUNDATION IS THE PHILANTHROPIC ENGINE OF THE LOCAL CHARITABLE SECTOR, PROVIDING SUPPORT FOR THE OUTER BANKS' MOST EXCITING PROJECTS AND URGENT NEEDS. THEY ASSIST LOCAL STUDENTS OF ALL AGES IN ACHIEVING THEIR EDUCATIONAL GOALS. THE FOUNDATION IS UNIQUE AS THE ONLY FUNDING SOURCE THAT REACHES ALL TYPES OF CHARITIES ACROSS THE OUTER BANKS. THEY SUPPORT PROGRAMS IN THE ARTS, EDUCATION, PUBLIC SAFETY, HEALTH AND HUMAN SERVICES, DISASTER RELIEF, COVID RESPONSE, HISTORIC PRESERVATION, THE ENVIRONMENT, AND ANIMAL SERVICES. IN 2022, THE FOUNDATION AWARDED MORE THAN 950,000 IN GRANTS AND SCHOLARSHIPS TO DOZENS OF NONPROFITS AND 53 LOCAL STUDENTS. TO DATE, THE FOUNDATION HAS INVESTED OVER 13 MILLION INTO CHARITABLE CAUSES ON THE OUTER BANKS IN ITS FORTY-YEAR HISTORY.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.7$2.85$24.8$2.58$2.48$0.10
2023Detailed filing. Detailed filing data is available for this year.$25.8$2.78$23.0$2.95$2.71$0.23
2022Detailed filing. Detailed filing data is available for this year.$22.5$2.22$20.2$2.16$1.97$0.19
2021Detailed filing. Detailed filing data is available for this year.$25.9$1.85$24.1$2.04$1.32$0.72
2020Detailed filing. Detailed filing data is available for this year.$22.3$1.51$20.8$2.64$2.13$0.51
2019Detailed filing. Detailed filing data is available for this year.$20.6$1.34$19.3$3.22$1.54$1.68
2018Detailed filing. Detailed filing data is available for this year.$16.3$1.03$15.2$1.39$0.89$0.50
2017Summary only. Only limited summary data is available for this year.$17.6$0.88$16.8$2.31$0.94$1.37
2016Summary only. Only limited summary data is available for this year.$14.2$0.55$13.7$1.69$0.80$0.89
2015Summary only. Only limited summary data is available for this year.$12.8$0.51$12.3$1.30$0.82$0.48
2014Summary only. Only limited summary data is available for this year.$13.2$0.53$12.7$1.82$0.66$1.16
2013Summary only. Only limited summary data is available for this year.$12.0$0.48$11.5$1.18$0.54$0.64
2012Summary only. Only limited summary data is available for this year.$10.00$0.40$9.60$0.89$0.71$0.18
2011Summary only. Only limited summary data is available for this year.$8.90$0.32$8.58$0.26$0.67$0.42