Civic Intelligence

Deerfield Charitable Foundation

990 • Fiscal year 2023 • EIN 83-3913679

Oct 01, 2022 to Sep 30, 2023 • Filed on Aug 15, 2024

1617 Hendersonville RoadAsheville, NC 28803

(828) 274-1531

Siviq Scores

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

Liabilities / Assets

19th percentile

0.10x

Higher debt load relative to assets than 19% of similar nonprofits.

2023 filings • NTEE L • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

45th percentile

1.90x

Higher debt load relative to revenue than 45% of similar nonprofits.

2023 filings • NTEE L • $10M-$25M nonprofits • Source year 2023

Net Margin

25th percentile

-12%

Higher net margin than 25% of similar nonprofits.

2023 filings • NTEE L • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

99th percentile

$1,880,043

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 231.6% of source-year revenue.

2023 filings • NTEE L • $10M-$25M nonprofits • Source year 2023

Asset Growth

37th percentile

-0.6%

Faster asset growth than 37% of similar nonprofits.

2023 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-49%

Faster revenue growth than 4% of similar nonprofits.

2023 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Down

$14,903,916

Down $94,990 (-0.6%) from 2022

Net Assets

Down

$13,360,287

Down $482,251 (-3.5%) from 2022

Liabilities

Up

$1,543,629

Up $387,261 (+33%) from 2022

Revenue

Down

$811,681

Down $793,080 (-49%) from 2022

Expenses

Up

$908,423

Up $172,033 (+23%) from 2022

Net Income

Down

-$96,742

Down $965,113 (-111%) from 2022

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2020: $14,938,533Liabilities 2020: $424,316Net Assets 2020: $14,514,2172020Assets 2021: $16,996,116Liabilities 2021: $780,651Net Assets 2021: $16,215,4652021Assets 2022: $14,998,906Liabilities 2022: $1,156,368Net Assets 2022: $13,842,5382022Assets 2023: $14,903,916Liabilities 2023: $1,543,629Net Assets 2023: $13,360,2872023Assets 2024: $17,642,121Liabilities 2024: $1,990,199Net Assets 2024: $15,651,9222024

Highlighted filing

2023

Assets$14,903,916
Liabilities$1,543,629
Net Assets$13,360,287

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2020: $478,250Expenses 2020: $778,614Net Income 2020: -$300,3642020Revenue 2021: $890,781Expenses 2021: $833,288Net Income 2021: $57,4932021Revenue 2022: $1,604,761Expenses 2022: $736,390Net Income 2022: $868,3712022Revenue 2023: $811,681Expenses 2023: $908,423Net Income 2023: -$96,7422023Revenue 2024: $1,175,033Expenses 2024: $1,326,861Net Income 2024: -$151,8282024

Highlighted filing

2023

Revenue$811,681
Expenses$908,423
Net Income-$96,742
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Aug 15, 2024
Return Version
2022v5.0
Gross Receipts
$811,681
Mission and Program Overview

Mission

We exist to nurture deerfield's spirit of generosity, enriching the lives of residents and sharing our resources with people across western north carolina.

Supporting organization - existing to nurture deerfield's spirit of generosity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,475,455$14,757,348▲ $8,281,893
Savings and Temporary Cash Investments$8,259,809--
Cash and Non-Interest-Bearing Accounts$263,642$146,568▼ $117,074
Total Assets$14,998,906$14,903,916▼ $94,990
Liabilities
Other Liabilities$1,156,368$1,543,629▲ $387,261
Total Liabilities$1,156,368$1,543,629▲ $387,261
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,441,238$11,236,709▲ $795,471
Net Assets With Donor Restrictions$3,401,300$2,123,578▼ $1,277,722
Total Net Assets Fund Balance$13,842,538$13,360,287▼ $482,251
Total Liabilities and Net Assets / Fund Balance$14,998,906$14,903,916▼ $94,990
Compensation and Service Providers

Employees

NameTitleOtherTotal
Michelle WooleyDirector of Philanthropy$89,682$89,682

Board Members and Trustees

NameTitle
Chris DismukesChair
Gene CarrVice Chair
Andy StraussBoard Member
Jeff CovingtonBoard Member
Joanne BrannonBoard Member
Larry HarrisBoard Member
Roba WhiteleyBoard Member
Timothy KurtzBoard Member
Libby BushCEO (BEGINNING AUG. '22)
Robert WernetCEO (THROUGH SEPT. '22)
Robert ChandlerCFO
Matthew SharpeCOO
Glen MayesSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$73,777
Program Service Revenue
$0
Investment Income
$737,904
Other Revenue
$0
All Other Contributions
$73,777
Change in Net Assets
$-96,742

Audited Revenue Reconciliation

Revenue per Audited Statements
$811,681
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$958,944
Total Revenue per Audited Statements
$1,770,625
Total Revenue per Form 990
$811,681
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$863,461
Other Expenses$44,962
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$863,461--$863,461
Office Expenses$44,962--$44,962
Total Functional Expenses$908,423$0$0$908,423

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$908,423
Total Expenses per Audited Statements$908,423
Total Expenses per Form 990$908,423
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Deerfield Episcopal Retirement CommunityAsheville, NC501(c)(3)Healthcare Assistance$387,261
Memory CareAsheville, NC501(c)(3)Operational Support$140,000
Unc Chapel HillChapel Hill, NC501(c)(3)Mahec$133,000
Habitat for HumanityAsheville, NC501(c)(3)Aging in Place/landscaping$85,000
Council on Aging of Buncombe CoAsheville, NC501(c)(3)Operational Support$50,000
Four Seasons FoundationHendersonville, NC501(c)(3)Operational Support$20,000
Mahec FoundationAsheville, NC501(c)(3)Operational Support$10,000
Rotary Club of Asheville-biltmoreAsheville, NC501(c)(6)Operational Support$10,000
United Way-501(c)(3)Operational Support$10,000
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
Due to Related Party$1,543,629
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The organization provided a copy of the 990 to each board member for personal review prior to filing the return. The finance committee held a meeting to formally review and approve the 990.

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

The compliance officer annually reviews the conflict of interest policy and that it is being followed. Board members are responsible for bringing any potential conflict of interest to attention and removing themselves from situations where there may be a potential conflict.

Form 990, Part VI, Section C, Line 18

The organziation's 990 are made available upon request. Also, recent filings of the form 990 are made available at www.guidestar.org.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Deerfield Charitable Foundation
EIN
83-3913679
Phone
8282741531
Address
1617 HENDERSONVILLE ROAD, ASHEVILLE, NC 28803

Signing Officer

Name
Robert Chandler
Title
CFO
Phone
8282741531
Signed
2024-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Chandler
Formed
2019
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Forvis Mazars Llp
Address
500 RIDGEFIELD COURT, ASHEVILLE, NC 28806
Preparer
Amy Bibby
Phone
8282542254
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in permanently restricted net assets -1,344,453.

Financial Statement Notes

PART X, LINE 2:

Deerfield is exempt from federal income taxes under section 501(c)(3) of the internal revenue code; accordingly, the accompanying financial statements do not reflect a provision or liability for federal and state income taxes. Deerfield has determined that it does not have any material unrecognized tax benefits or obligations as of september 30, 2023 and 2022.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Change in restricted net assets

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IRS990/PYGrantsAndSimilarPaidAmt0692482
IRS990/PYInvestmentIncomeAmt0943658
IRS990/PYOtherExpensesAmt043908
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0868371
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0736390
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01604761
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-96742
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08259809
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0560614176
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd010
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0387261
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0DEERFIELD EPISCOPAL RETIREMENT COMMUNITY INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0387261
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0908423
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0958944
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01543629
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/RevenueNotReportedAmt0958944
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0811681
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DEERFIELD IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. DEERFIELD HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2023 AND 2022.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CHANGE IN RESTRICTED NET ASSETS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0908423
IRS990ScheduleD/TotalLiabilityAmt01543629
IRS990ScheduleD/TotalRevenuePerForm990Amt0811681
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01770625
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0908423
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt085000
IRS990ScheduleI/RecipientTable/CashGrantAmt1133000
IRS990ScheduleI/RecipientTable/CashGrantAmt2387261
IRS990ScheduleI/RecipientTable/CashGrantAmt350000
IRS990ScheduleI/RecipientTable/CashGrantAmt420000
IRS990ScheduleI/RecipientTable/CashGrantAmt510000
IRS990ScheduleI/RecipientTable/CashGrantAmt6140000
IRS990ScheduleI/RecipientTable/CashGrantAmt710000
IRS990ScheduleI/RecipientTable/CashGrantAmt810000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc6501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc7501(C)(6)
IRS990ScheduleI/RecipientTable/IRCSectionDesc8501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt60
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt70
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt80
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0AGING IN PLACE/LANDSCAPING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1MAHEC
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2HEALTHCARE ASSISTANCE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0HABITAT FOR HUMANITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1UNC CHAPEL HILL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2DEERFIELD EPISCOPAL RETIREMENT COMMUNITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3COUNCIL ON AGING OF BUNCOMBE CO
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4FOUR SEASONS FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5MAHEC FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6MEMORY CARE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7ROTARY CLUB OF ASHEVILLE-BILTMORE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8UNITED WAY
IRS990ScheduleI/RecipientTable/RecipientEIN0561363464
IRS990ScheduleI/RecipientTable/RecipientEIN1566001393
IRS990ScheduleI/RecipientTable/RecipientEIN2560614176
IRS990ScheduleI/RecipientTable/RecipientEIN3237410586
IRS990ScheduleI/RecipientTable/RecipientEIN4475508988
IRS990ScheduleI/RecipientTable/RecipientEIN5561071426
IRS990ScheduleI/RecipientTable/RecipientEIN6560576157
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt030 MEADOW RD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 309
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21617 HENDERSONVILLE ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt346 SHEFFIELD CIRCLE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4211 N MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5121 HENDERSONVILLE ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt61617 HENDERSONVILLE ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt750 SOUTH FRENCH BROAD AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm1CHAPEL HILL
IRS990ScheduleI/RecipientTable/USAddress/CityNm2ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm3ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm4HENDERSONVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm5ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm6ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm7ASHEVILLE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3NC

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