Civic Intelligence

The Sharon Foundation

EIN 86-3815687 • 501(c)3 • Charlotte, NC

Profile

Sharon towers foundation exists solely for the benefit of the presbyterian home at charlotte, inc., (d/b/a sharon towers) and its residents.

5100 Sharon RoadCharlotte, NC 28210

www.sharontowers.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

49th percentile

0.06x

Higher debt load relative to assets than 49% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

0.34x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

80th percentile

22%

Faster asset growth than 80% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

8th percentile

-37%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,826,848

Up $691,143 (+22%) from 2023

Liabilities

Up

$236,412

Up $43,422 (+22%) from 2023

Net Assets

Up

$3,590,436

Up $647,721 (+22%) from 2023

Revenue

Down

$691,291

Down $414,104 (-37%) from 2023

Expenses

Down

$43,570

Down $42,030 (-49%) from 2023

Net Income

Down

$647,721

Down $372,074 (-36%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2021: $1,000,000Liabilities 2021: $4,890Net Assets 2021: $995,1102021Assets 2022: $2,030,311Liabilities 2022: $107,391Net Assets 2022: $1,922,9202022Assets 2023: $3,135,705Liabilities 2023: $192,990Net Assets 2023: $2,942,7152023Assets 2024: $3,826,848Liabilities 2024: $236,412Net Assets 2024: $3,590,4362024

Highlighted filing

2024

Assets$3,826,848
Liabilities$236,412
Net Assets$3,590,436

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Revenue 2021: $1,000,000Expenses 2021: $4,890Net Income 2021: $995,1102021Revenue 2022: $1,030,310Expenses 2022: $102,500Net Income 2022: $927,8102022Revenue 2023: $1,105,395Expenses 2023: $85,600Net Income 2023: $1,019,7952023Revenue 2024: $691,291Expenses 2024: $43,570Net Income 2024: $647,7212024

Highlighted filing

2024

Revenue$691,291
Expenses$43,570
Net Income$647,721

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.2
Gross Receipts
$691,291
Mission and Program Overview

Mission

Sharon towers foundation exists solely for the benefit of the presbyterian home at charlotte, inc., (d/b/a sharon towers) and its residents.

Provision of goods, services, and funds to the sharon at southpark and its residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,135,705$3,826,848▲ $691,143
Total Assets$3,135,705$3,826,848▲ $691,143
Liabilities
Accounts Payable and Accrued Expenses$192,990$236,412▲ $43,422
Total Liabilities$192,990$236,412▲ $43,422
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,942,715$3,590,436▲ $647,721
Total Net Assets Fund Balance$2,942,715$3,590,436▲ $647,721
Total Liabilities and Net Assets / Fund Balance$3,135,705$3,826,848▲ $691,143
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ned McconnellChair
Angela RigsbeePresident & CEO
Vincent PrattVice Chair
Timothy IgnasherDirector
Charles GaskinsCFO
Katherine RichardsSecretary
Kelly GravesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$501,200
Program Service Revenue
$0
Investment Income
$190,091
Other Revenue
$0
All Other Contributions
$1,200
Change in Net Assets
$647,721
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$42,396
Other Expenses$1,174
Total Fundraising Expense$1,024
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$35,700--$35,700
Payroll Taxes$6,696--$6,696
Fees for Services Other--$1,024$1,024
Other Expenses$150--$150
Total Functional Expenses$42,546$0$1,024$43,570
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
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
Yes
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 A, Line 8B

Currently the organization has no committees to which the board delegates authority.

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

The ceo and cfo review the full 990. A redacted draft is shared with the executive committe of the sharon at southpark, a rleated organization.

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

Board members complete a conflict of interest statement disclosing any potential conflicts of interest; board members abstain from any decision/vote that may be a conflict of interest.

Form 990, Part VI, Section B, Line 15A

The executive committee of the board of directors of the sharon at southpark, a related tax-exempt organization, serves as the compensation committee. In 2024 the organization had an external compensation review. The committee was given this wage and salary survey conducted by an independent salary consultant. The data included multiple salary surveys including ccrc's as well as similar & competing organizations. These data were used in confirming the 2024 salary and adjustments were made in 2025. Ceo compensation is documented and placed in the ceo's file held by the board chair. A copy is also kept in the sharon's records..

Form 990, Part VI, Section C, Line 19

The organization will make its governing documents, written policies, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Sharon Foundation
EIN
86-3815687
Phone
7045531670
Address
5100 SHARON ROAD, CHARLOTTE, NC 28210

Signing Officer

Name
Angela Rigsbee
Title
President and CEO
Phone
7045531670
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angela Rigsbee
Formed
2021
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Cliftonlarsonallen Llp
Address
227 WEST TRADE STREET SUITE 800, CHARLOTTE, NC 28202
Preparer
Kathrine a Warlick
Phone
7049985200
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The sharon and the foundation have been recognized by the internal revenue service as exempt from income taxes under internal revenue code section 501(c)(3). The sharon and the foundation file as tax-exempt organizations. Management is not aware of any activities that would jeopardize their tax-exempt status. Management is not aware of any activities that are subjected to tax on unrelated business income or excise or other taxes. The sharon and the foundation follow guidance in the income tax standard regarding recognition and measurement of uncertain tax positions. The application of the standard has had no impact on the consolidated financial statements.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt18602
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt024509
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt133336
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt02743
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt110363
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ANGELA RIGSBEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CHARLES GASKINS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0320447
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1293684
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF THE SHARON AT SOUTHPARK, A RELATED TAX-EXEMPT ORGANIZATION, SERVES AS THE COMPENSATION COMMITTEE. IN 2024 THE ORGANIZATION HAD AN EXTERNAL COMPENSATION REVIEW. THE COMMITTEE WAS GIVEN THIS WAGE AND SALARY SURVEY CONDUCTED BY AN INDEPENDENT SALARY CONSULTANT. THE DATA INCLUDED MULTIPLE SALARY SURVEYS INCLUDING CCRC'S AS WELL AS SIMILAR & COMPETING ORGANIZATIONS. THESE DATA WERE USED IN CONFIRMING THE 2024 SALARY AND ADJUSTMENTS WERE MADE IN 2025. CEO COMPENSATION IS DOCUMENTED AND PLACED IN THE CEO'S FILE HELD BY THE BOARD CHAIR. A COPY IS ALSO KEPT IN THE SHARON'S RECORDS..
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1CEO, CFO, & VP'S HAD CERTAIN TARGETS TO ATTAIN INCLUDING "INCOME AVAILABLE FOR DEBT SERVICE" COMPARED TO FORECASTED FIGURES TO EARN A PORTION OF THEIR BONUS.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt2CEO, CFO, & VP'S HAD CERTAIN TARGETS TO ATTAIN INCLUDING "INCOME AVAILABLE FOR DEBT SERVICE" COMPARED TO FORECASTED FIGURES TO EARN A PORTION OF THEIR BONUS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 5
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc2PART I, LINE 6
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CURRENTLY THE ORGANIZATION HAS NO COMMITTEES TO WHICH THE BOARD DELEGATES AUTHORITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CEO AND CFO REVIEW THE FULL 990. A REDACTED DRAFT IS SHARED WITH THE EXECUTIVE COMMITTE OF THE SHARON AT SOUTHPARK, A RLEATED ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS COMPLETE A CONFLICT OF INTEREST STATEMENT DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST; BOARD MEMBERS ABSTAIN FROM ANY DECISION/VOTE THAT MAY BE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF THE SHARON AT SOUTHPARK, A RELATED TAX-EXEMPT ORGANIZATION, SERVES AS THE COMPENSATION COMMITTEE. IN 2024 THE ORGANIZATION HAD AN EXTERNAL COMPENSATION REVIEW. THE COMMITTEE WAS GIVEN THIS WAGE AND SALARY SURVEY CONDUCTED BY AN INDEPENDENT SALARY CONSULTANT. THE DATA INCLUDED MULTIPLE SALARY SURVEYS INCLUDING CCRC'S AS WELL AS SIMILAR & COMPETING ORGANIZATIONS. THESE DATA WERE USED IN CONFIRMING THE 2024 SALARY AND ADJUSTMENTS WERE MADE IN 2025. CEO COMPENSATION IS DOCUMENTED AND PLACED IN THE CEO'S FILE HELD BY THE BOARD CHAIR. A COPY IS ALSO KEPT IN THE SHARON'S RECORDS..
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION WILL MAKE ITS GOVERNING DOCUMENTS, WRITTEN POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PRESBYTERIAN HOME AT CHARLOTTE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0566064816
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RETIREMENT COMMUNITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt05100 SHARON ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0CHARLOTTE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd028210
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03135705
IRS990/TotalAssetsEOYAmt03826848
IRS990/TotalAssetsGrp/BOYAmt03135705
IRS990/TotalAssetsGrp/EOYAmt03826848
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0501200
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01024
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt042546
IRS990/TotalFunctionalExpensesGrp/TotalAmt043570
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0192990
IRS990/TotalLiabilitiesEOYAmt0236412
IRS990/TotalLiabilitiesGrp/BOYAmt0192990
IRS990/TotalLiabilitiesGrp/EOYAmt0236412
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02942715
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03590436
IRS990/TotalOtherCompensationAmt075995
IRS990/TotalProgramServiceExpensesAmt042546
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0190091
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0691291
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03135705
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03826848
IRS990/TotReportableCompRltdOrgAmt0538136
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05100 SHARON ROAD
IRS990/USAddress/CityNm0CHARLOTTE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028210
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.THESHARON.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ANGELA RIGSBEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07045531670
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE SHARON FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0SHAR
ReturnHeader/Filer/EIN0863815687

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