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← OUTER BANKS COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by OUTER BANKS COMMUNITY FOUNDATION INC.

Totals

Total revenue
$2,945,091
Total expenses
$2,710,917
Contributions and grants received
$2,108,074
Grants paid
$2,151,769
Program service revenue
$0
Investment income
$771,629
Other revenue
$65,388
Total assets, end of year
$25,773,330
Total liabilities, end of year
$2,779,248
Net assets or fund balances, end of year
$22,994,082
Program services expenses (Part IX)
$2,363,923
Management and general expenses
$143,149
Fundraising expenses
$203,845
Program service expenses (Part III)
$2,363,923

Program services were 87.2% 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.

  • 1f · All other contributions, gifts and grants

    $2,108,074

  • 1g · Noncash contributions included above

    $149,330

  • 3 · Investment income

    total $648,909 · excluded $648,909

  • 7a · Gross sales of assets other than inventory

    securities $124,631 · other assets $420,000

  • 7b · Less cost or other basis and sales expenses

    securities $124,696 · other assets $297,215

  • 7c · Gain or loss

    securities -$65 · other assets $122,785

  • 7d · Net gain or loss

    total $122,720 · related or exempt $122,720

  • 11a · Other revenue: EMPLOYEE RETENTION CREDIT

    total $65,388 · related or exempt $65,388

  • 11e · Other revenue, total

    $65,388

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,938,561 · program services $1,938,561

  • 2 · Grants to domestic individuals

    total $213,208 · program services $213,208

  • 5 · Compensation of officers, directors and key employees

    total $106,869 · program services $26,717 · management and general $26,717 · fundraising $53,435

  • 7 · Other salaries and wages

    total $163,962 · program services $61,280 · management and general $59,540 · fundraising $43,142

  • 9 · Other employee benefits

    total $25,001 · program services $11,062 · management and general $6,624 · fundraising $7,315

  • 10 · Payroll taxes

    total $20,853 · program services $7,109 · management and general $6,986 · fundraising $6,758

  • 11b · Fees: legal

    total $23,291 · program services $7,763 · management and general $7,764 · fundraising $7,764

  • 11c · Fees: accounting

    total $10,487 · program services $3,497 · management and general $3,495 · fundraising $3,495

  • 11f · Fees: investment management

    total $57,883 · program services $57,883

  • 13 · Office expenses

    total $84,754 · program services $27,245 · management and general $21,637 · fundraising $35,872

  • 17 · Travel

    total $4,159 · program services $1,368 · management and general $1,340 · fundraising $1,451

  • 19 · Conferences, conventions and meetings

    total $5,789 · program services $1,966 · management and general $1,865 · fundraising $1,958

  • 22 · Depreciation, depletion and amortization

    total $9,873 · program services $3,352 · management and general $3,182 · fundraising $3,339

  • 23 · Insurance

    total $1,700 · management and general $1,700

  • 24a · Other expenses: MEMBERSHIP DEVELOPMENT

    total $17,212 · fundraising $17,212

  • 24b · Other expenses: SPECIAL EVENTS

    total $13,417 · fundraising $13,417

  • 24c · Other expenses: NONPROFIT EVENTS & WORKSH

    total $7,233 · program services $2,780 · management and general $2,173 · fundraising $2,280

  • 24d · Other expenses: DUES

    total $6,275 · fundraising $6,275

  • 24e · All other expenses

    total $390 · program services $132 · management and general $126 · fundraising $132

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $36,230 · end of year $682,663

  • 2 · Savings and temporary cash investments

    beginning of year $494,372 · end of year $370,046

  • 4 · Accounts receivable

    beginning of year $2,143 · end of year $3,046

  • 10a · Land, buildings and equipment: cost or other basis

    $697,918

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,289

  • 10c · Land, buildings and equipment, net

    beginning of year $279,799 · end of year $690,629

  • 11 · Investments: publicly traded securities

    beginning of year $21,613,711 · end of year $24,026,946

  • 15 · Other assets

    beginning of year $30,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,626 · end of year $29,149

  • 18 · Grants payable

    beginning of year $2,196,337 · end of year $2,750,099

  • 25 · Other liabilities

    beginning of year $215

  • 27 · Net assets without donor restrictions

    beginning of year $18,558,772 · end of year $21,068,615

  • 28 · Net assets with donor restrictions

    beginning of year $1,682,305 · end of year $1,925,467

Mission and programs · 2023

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.

  • OUTER 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, HISTORIC PRESERVATION, THE ENVIRONMENT, AND ANIMAL SERVICES. IN 2023, THE FOUNDATION AWARDED MORE THAN 1,250,000 IN GRANTS AND SCHOLARSHIPS TO DOZENS OF NONPROFITS AND 81 LOCAL STUDENTS. TO DATE, THE FOUNDATION HAS INVESTED OVER 14 MILLION INTO CHARITABLE CAUSES ON THE OUTER BANKS IN ITS FORTY-ONE YEAR HISTORY.

    Expenses $2,363,923 · Grants $2,151,769

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christopher Sawin

    PRESIDENT &

    Total calculated
    $106,870
    From this org
    $93,231
    From related orgs
    $0
    Other
    $13,639
    Hours/week
    50

  • Jean-Louise Dixon

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Jason Waughtel

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Pat Regan

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Lynda Hester

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Cath Baldwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Clawson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeff Dowdy

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Frank Hester

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tess Judge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robin Mann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ray Meiggs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Claudia Neal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Noel Preston

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Betty Selby

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Shufflebarger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ronnie Sloan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sarah Spencer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ruth Toth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

  • SEE ATTACHED

    $1,122,878

Provenance

Return type
form_990
Tax year
2023
Filed
16 September 2024
IRS schema version
2023v5.0
Source object
202412759349300481

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