Form 990 for tax year 2024
Filed by WESTERN NORTH CAROLINA REAL ESTATE FOUNDATION INC.
Totals
- Total revenue
- $1,164,004
- Total expenses
- $1,147,247
- Contributions and grants received
- $1,384,019
- Grants paid
- $1,105,319
- Program service revenue
- $12,000
- Investment income
- -$233,282
- Other revenue
- $1,267
- Total assets, end of year
- $120,376
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $120,376
- Program services expenses (Part IX)
- $1,105,319
- Management and general expenses
- $41,928
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,105,319
Program services were 96.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$6,000
-
1f · All other contributions, gifts and grants
$1,378,019
-
1g · Noncash contributions included above
$1,350,000
-
2a · Program service revenue: MANAGEMENT FEE INCOME
total $12,000 · unrelated business $12,000
-
3 · Investment income
total $19 · excluded $19
-
6a · Gross rents
real property $9,600
-
6b · Less rental expenses
real property $8,333
-
6c · Rental income or loss
real property $1,267
-
6d · Net rental income or loss
total $1,267 · excluded $1,267
-
7a · Gross sales of assets other than inventory
other assets $1,199,000
-
7b · Less cost or other basis and sales expenses
other assets $1,432,301
-
7c · Gain or loss
other assets -$233,301
-
7d · Net gain or loss
total -$233,301 · related or exempt -$233,301
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,105,319 · program services $1,105,319
-
11b · Fees: legal
total $8,140 · management and general $8,140
-
11c · Fees: accounting
total $2,831 · management and general $2,831
-
11g · Fees: other
total $30,957 · management and general $30,957
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $103,619 · end of year $120,376
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $103,619 · end of year $120,376
Mission and programs · 2024
Mission
TO DEVELOP CHARITABLE RESOURCES THROUGH THE ACQUISITION AND LIQUIDATION OF GIFTS OF REAL ESTATE AS THEY BECOME AVAILABLE FOR THE BENEFIT OF THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.
Activities or mission (Part I)
REFER TO SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENT.TO DEVELOP CHARITABLE RESOURCES THROUGH THE ACQUISITION AND LIQUIDATION OF REAL ESTATE, SUPPORTING THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.
-
DURING 2024, PROPERTY WAS SOLD TO SUPPORT THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA. THE ORGANIZATION INCURRED ONLY MINIMAL MAINTENANCE EXPENSES ON THE EXISTING REAL ESTATE FOR FUTURE SALE, PROCEEDS FOR USE TO BENEFIT THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.
Expenses $1,105,319 · Grants $1,105,319
As filed on the 2024 return.
Listed in Part VII
-
JOSH HOLMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
CARLA BARNARD
CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
GRAHAM KEEVER
TREASURER
- Total calculated
- $274,685
- From this org
- $0
- From related orgs
- $230,987
- Other
- $43,698
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $219,587 related
- Bonus
- $0 + $11,400 related
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $43,698 related
- Filer's total
- $0 + $274,685 related
-
LAURA HERNDON
PRESIDENT
- Total calculated
- $152,308
- From this org
- $0
- From related orgs
- $130,116
- Other
- $22,192
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $128,716 related
- Bonus
- $0 + $1,400 related
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $22,192 related
- Filer's total
- $0 + $152,308 related
-
MICHAEL FALKNOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
BARBARA BASKERVILLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
CHRISTINE MALLETTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
JOANNE BADR MORGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
JULIE D KLIPP
SECRETARY
- Total calculated
- $185,186
- From this org
- $0
- From related orgs
- $163,665
- Other
- $21,521
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $162,265 related
- Bonus
- $0 + $1,400 related
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $21,521 related
- Filer's total
- $0 + $185,186 related
-
KIMBERLY WINTERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
JOCHEN LUCKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
KATE MADISON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
EVA CLEMENT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
TO PROVIDE SUPPORT FOR THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA, ACCORDING TO EXEMPT PURPOSE OF THIS SUPPORTING ORGANIZATION
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA
501(C)(3) · RAISING CHARITABLE CAPITAL TO BENEFIT THE COMMUNITIES IT SERVES · NC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 29 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533389349300428
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