Civic Intelligence

Friends Foundation of the Carolinas

990 • Fiscal year 2025 • EIN 92-0441960

Jan 01, 2025 to Dec 31, 2025 • Filed on Apr 14, 2026

Organization ProfileFRIENDS-FOUNDATION.ORG
916 East BoulevardCharlotte, NC 28203

(704) 778-9114

Siviq Scores

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

Liabilities / Assets

85th percentile

0.46x

Higher debt load relative to assets than 85% of similar nonprofits.

2025 filings • NTEE P • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

85th percentile

0.48x

Higher debt load relative to revenue than 85% of similar nonprofits.

2025 filings • NTEE P • $500k-$1M nonprofits • Source year 2025

Net Margin

65th percentile

14%

Higher net margin than 65% of similar nonprofits.

2025 filings • NTEE P • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

64th percentile

$57,500

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2025 filings • NTEE P • $500k-$1M nonprofits • Source year 2025

Asset Growth

86th percentile

109%

Faster asset growth than 86% of similar nonprofits.

2025 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

61st percentile

15%

Faster revenue growth than 61% of similar nonprofits.

2025 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$702,741

Up $366,288 (+109%) from 2024

Net Assets

Up

$379,800

Up $43,347 (+13%) from 2024

Liabilities

Up

$322,941

Up $322,941 from 2024

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin65th percentile

Revenue

Up

$679,527

Up $90,806 (+15%) from 2024

Expenses

Up

$585,185

Up $182,977 (+45%) from 2024

Net Income

Down

$94,342

Down $92,171 (-49%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$800K$600K$400K$200K$0Assets 2022: $64,735Liabilities 2022: $8,199Net Assets 2022: $56,5362022Assets 2023: $149,940Liabilities 2023: $1,620Net Assets 2023: $148,3202023Assets 2024: $336,453Liabilities 2024: $0Net Assets 2024: $336,4532024Assets 2025: $702,741Liabilities 2025: $322,941Net Assets 2025: $379,8002025

Highlighted filing

2025

Assets$702,741
Liabilities$322,941
Net Assets$379,800
Open 2025 Filing

Operations Trend

Revenue Growth61st percentile

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

$800K$600K$400K$200K$0Revenue 2022: $76,200Expenses 2022: $19,664Net Income 2022: $56,5362022Revenue 2023: $597,277Expenses 2023: $505,493Net Income 2023: $91,7842023Revenue 2024: $588,721Expenses 2024: $402,208Net Income 2024: $186,5132024Revenue 2025: $679,527Expenses 2025: $585,185Net Income 2025: $94,3422025

Highlighted filing

2025

Revenue$679,527
Expenses$585,185
Net Income$94,342
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Apr 14, 2026
Return Version
2025v4.1
Gross Receipts
$701,477
Mission and Program Overview

Mission

To create and maintain a community support system to help enhance the life experience of those living with neuromuscular disease.

The organization is committed to bringing people together to share collective resources to help those afflicted with a neuromuscular disease live safer, more independent lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$311,614$649,534▲ $337,920
Investments in Publicly Traded Securities-$22,827-
Accounts Receivable$10,000$14,254▲ $4,254
Intangible Assets$13,185$12,276▼ $909
Prepaid Expenses and Deferred Charges$675$3,800▲ $3,125
Total Assets$336,453$702,741▲ $366,288
Other Assets Total$979$50▼ $929
Liabilities
Other Liabilities$0$322,941▲ $322,941
Total Liabilities$0$322,941▲ $322,941
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$336,453$379,800▲ $43,347
Total Net Assets Fund Balance$336,453$379,800▲ $43,347
Total Liabilities and Net Assets / Fund Balance$336,453$702,741▲ $366,288
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lisa SwicegoodExecutive DirectorPT$57,500$57,500

Board Members and Trustees

NameTitle
Duke AlmonPresident
Todd DeweyVice President
Rob RuschBoard Member
Stephanie BourgeoisBoard Member
Stuart SherrillBoard Member
Cameron SherrillSecretary
David MarrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$697,491
Program Service Revenue
$0
Investment Income
$3,986
Other Revenue
$-21,950
All Other Contributions
$87,319
Change in Net Assets
$94,342

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$22,827Fair Market Value (FMV)
Food Inventory1$18,100Fair Market Value (FMV)
Other Non Cash Contri Table1$4,120Fair Market Value (FMV)
Books and Publications-$990Fair Market Value (FMV)
Total Noncash Contributions3$46,037-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$377,561
Other Expenses$145,683
Salaries, Compensation, and Employee Benefits$61,941
Total Fundraising Expense$328
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$377,561--$377,561
Other Salaries and Wages$57,500--$57,500
Fees for Services Other-$15,178-$15,178
Office Expenses-$4,472-$4,472
Payroll Taxes$4,441--$4,441
Insurance-$2,410-$2,410
Depreciation Depletion-$909-$909
Advertising-$726-$726
Other Expenses$117,769$1,600$328$328
Total Functional Expenses$557,271$27,586$328$585,185
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$21,950
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ronnie Sherrill Legacy Luncheon$610,172-$990-
Total Events$610,172-$21,950$-21,950
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Grants Awarded Accrual$322,941
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Stuart and cameron sherrill have a familial relationship.”

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

“The form 990 is reviewed by the executive director prior to filing.”

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

“Each officer and director shall annually sign and submit a written conflicts of interest disclosure statement with the corporation. In the event a potential conflict arises during the year, the interested person shall recuse himself/herself from all discussion and vote on the matter.”

Form 990, Part VI, Section C, Line 19

“The organizations governing documents and financial statements will be made available upon request.”

Filing and Contact Details

Filer

Filer Name
Friends Foundation of the Carolinas
EIN
92-0441960
Phone
7047789114
Address
916 EAST BOULEVARD, CHARLOTTE, NC 28203

Signing Officer

Name
Duke Almon
Title
President
Phone
7047789114
Signed
2026-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Duke Almon
Formed
2022
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
30

Preparer

Firm
Elliott Davis Advisory LLC
Address
500 EAST MOREHEAD STREET SUITE 700, CHARLOTTE, NC 28202
Preparer
Janice a Ratica
Phone
7043338881
Raw XML AppendixShowing 400 of 414 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/Desc0RECEIVED 17 APPLICATIONS REQUESTING ASSISTANCE, ALONG WITH 1 EMERGENCY REQUEST. THANKS TO THE GENEROSITY OF OUR SUPPORTERS, WE WERE ABLE TO FULFILL 8 OF THOSE 17 APPLICATIONS AND RESPOND TO THE EMERGENCY REQUEST AWARDING A TOTAL OF 9 GRANTS IN 2025.IN ALL, WE DISTRIBUTED $377,561 TO PROVIDE WHEELCHAIR-ACCESSIBLE VANS AND OTHER UNINSURED ACCESSIBILITY-RELATED SOLUTIONS FOR FAMILIES AND INDIVIDUALS LIVING WITH NEUROMUSCULAR DISEASE.
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IRS990/ProgSrvcAccomActy2Grp/Desc0WE HOSTED 5 FUN SOCIAL EVENTS FOR LOCAL FAMILIES LIVING WITH NEUROMUSCULAR DISEASE TO MAKE FRIENDS, AND FORM BONDS WITH OTHERS WHO ARE NAVIGATING SIMILAR CHALLENGES. EVENTS INCLUDED MUSIC TRIVIA, CHARLOTTE KNIGHTS BASEBALL, ACTIVITIES DAY AT CAMP BETHELWOODS, CAROLINA PANTHERS WATCH PARTY AND A HOLIDAY PARTY. 1K+ EVENT ATTENDEES.
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0RONNIE SHERRILL LEGACY LUNCHEON
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0A GRANT APPLICATION IS COMPLETED, AND A RECIPIENT LETTER OUTLINING THE GRANT GUIDELINES IS SIGNED. EACH GRANT IS PAID DIRECTLY TO THE PROVIDER IN THE NAME OF THE RECIPIENT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STUART AND CAMERON SHERRILL HAVE A FAMILIAL RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH OFFICER AND DIRECTOR SHALL ANNUALLY SIGN AND SUBMIT A WRITTEN CONFLICTS OF INTEREST DISCLOSURE STATEMENT WITH THE CORPORATION. IN THE EVENT A POTENTIAL CONFLICT ARISES DURING THE YEAR, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSION AND VOTE ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATIONS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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 C, LINE 19
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DUKE ALMON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07047789114
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-04-14
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ReturnHeader/Filer/USAddress/ZIPCd028203

Document Assets

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Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$702,741
Liabilities
$322,941
Net assets
$379,800
Revenue
$679,527
Expenses
$585,185
Net income
$94,342
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.03$3.23$3.80$6.80$5.85$0.94
2024Detailed filing. Detailed filing data is available for this year.$3.36$0.00$3.36$5.89$4.02$1.87
2023Detailed filing. Detailed filing data is available for this year.$1.50$0.02$1.48$5.97$5.05$0.92
2022Detailed filing. Detailed filing data is available for this year.$0.65$0.08$0.57$0.76$0.20$0.57