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Nonprofiteer
← POLK COUNTY COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by POLK COUNTY COMMUNITY FOUNDATION INC.

Totals

Total revenue
$2,549,691
Total expenses
$3,091,951
Contributions and grants received
$489,668
Grants paid
$2,238,821
Program service revenue
$0
Investment income
$1,808,373
Other revenue
$251,650
Total assets, end of year
$62,182,358
Total liabilities, end of year
$4,214,665
Net assets or fund balances, end of year
$57,967,693
Program services expenses (Part IX)
$2,675,112
Management and general expenses
$350,885
Fundraising expenses
$65,954
Program service expenses (Part III)
$2,675,112

Program services were 86.5% 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

    $489,668

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,490,524 · related or exempt $1,490,524

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $21,902,492

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

    securities $21,584,643

  • 7c · Gain or loss

    securities $317,849 · other assets $0

  • 7d · Net gain or loss

    total $317,849 · related or exempt $317,849

  • 11a · Other revenue: PCCF Management Fee

    total $251,650 · related or exempt $251,650

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $251,650

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,859,126 · program services $1,859,126

  • 2 · Grants to domestic individuals

    total $379,695 · program services $379,695

  • 5 · Compensation of officers, directors and key employees

    total $204,134 · program services $81,654 · management and general $112,274 · fundraising $10,206

  • 7 · Other salaries and wages

    total $184,035 · program services $106,939 · management and general $60,403 · fundraising $16,693

  • 8 · Pension plan contributions

    total $98,920 · program services $58,832 · management and general $30,812 · fundraising $9,276

  • 10 · Payroll taxes

    total $142,075 · program services $84,498 · management and general $44,254 · fundraising $13,323

  • 11b · Fees: legal

    total $8,486 · management and general $8,486

  • 11c · Fees: accounting

    total $29,734 · management and general $29,734

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $74,867 · program services $44,527 · management and general $23,320 · fundraising $7,020

  • 16 · Occupancy

    total $53,424 · program services $31,774 · management and general $16,640 · fundraising $5,010

  • 19 · Conferences, conventions and meetings

    total $10,263 · management and general $10,263

  • 22 · Depreciation, depletion and amortization

    total $22,435 · program services $13,343 · management and general $6,988 · fundraising $2,104

  • 23 · Insurance

    total $24,757 · program services $14,724 · management and general $7,711 · fundraising $2,322

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200 · end of year $200

  • 2 · Savings and temporary cash investments

    beginning of year $441,925 · end of year $269,190

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $185 · end of year $142

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

    $858,342

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

    $553,800

  • 10c · Land, buildings and equipment, net

    beginning of year $326,977 · end of year $304,542

  • 12 · Investments: other securities

    beginning of year $55,731,583 · end of year $61,608,284

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,897 · end of year $4,590

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $3,864,631 · end of year $4,210,075

  • 27 · Net assets without donor restrictions

    beginning of year $23,490,317 · end of year $25,370,540

  • 28 · Net assets with donor restrictions

    beginning of year $29,143,025 · end of year $32,597,153

Mission and programs · 2023

Mission

To administer funds entrusted to support charitable, cultural, educational and publicly beneficial activities in the community centered in and around Polk County, N.C. both by directly expending sums for such purposes and in cooperation with institutions qualified to carry out these objectives most efficiently. The foundation works with donors (both individuals and charitable organizations) to establish funds to benefit one or more named charities, to accomplish a certain objective (provide for cultural events, encourage the development of agriculture, provide free activities for youth, improve classroom teaching, etc.), to award scholarships to local students, and to allow the board of the Polk County Community Foundation to address the needs of the community as they change from time to time (unrestricted funds).

Activities or mission (Part I)

To administer funds entrusted to it to support charitable, cultural, educational and publicly beneficial charitable activities in the community centered in and around Polk County, N.C.

  • THE COMMUNITY FOUNDATION IMPROVED THE QUALITY OF LIFE IN THE AREA CENTERED IN AND AROUND POLK COUNTY, NC BY REWARDING GRANTS FROM UNRESTRICTED FUNDS TO SUPPORT THE WORTHWHILE PROJECTS OF LOCAL NONPROFIT ORGANIZATIONS, GIVING VOCATIONAL AND COLLEGE SCHOLARSHIPS TO LOCAL STUDENTS, DISTRIBUTING ENDOWMENT FUND INCOME IN ACCORDANCE WITH GUIDELINES ESTABLISHED BY DONORS OR NONPROFITS AND MEMORIALIZED IN FUND AGREEMENTS, ADMINISTERING PLANNED GIVING PROGRAMS, PROVIDING A LIBRARY OF RESOURCES AND MEETING SPACES FOR NONPROFITS AND HELPING LOCAL NONPROFIT ORGANIZATIONS AND DONORS MEET THEIR CHARITABLE GOALS. THE FOUNDATION ADMINISTERS OVER 200 CHARITABLE FUNDS.

    Expenses $2,675,112 · Grants $2,238,821 · Revenue $2,060,023

As filed on the 2023 return.

Listed in Part VII

  • A Thomas Jackson

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Monica E Jones

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Peter R Franklin

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sherry M Carter

    Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Carolyn Gibson

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dale L McEntire

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Stacey Lindsay

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan S McHugh

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sara Barron Bell

    President & CEO

    Total calculated
    $244,960
    From this org
    $204,134
    From related orgs
    $0
    Other
    $40,826
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $171,634
    Bonus
    $32,500
    Other
    $0
    Deferred
    $40,826
    Nontaxable benefits
    $0
    Filer's total
    $244,960

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

  • FENCE

    $267,606

    Support for 400+ acre nature & equestrian center

  • Thermal Belt Outreach Ministry Inc

    $229,456

    Support for food distribution, housing, medical & financial assistance for those in need

  • Tryon Fine Arts Center

    $183,548

    Support for community arts center programs, operations & facilities

  • Tryon Arts & Crafts Inc

    $160,006

    Support for arts education programs, community events, operations & facilities

  • St Luke's Hospital Foundation

    $138,068

    Support for St. Luke's Hospital community health programs, equipment & operations

  • Polk County Schools

    $136,513

    Support for gifted camps, band program, field trips, internships, teacher conferences & educational travel, community partnerships, mentoring & special projects

  • Episcopal Church of the Holy Cross

    $103,150

    Endowment fund distributions for operating support

  • Lanier Library Association

    $83,984

    Support for library programs & facilities

  • Tryon Painters & Sculptors

    $61,350

    Support for art gallery programs, facilities & operations

  • Polk County Government

    $58,303

    Support for farmers markets, youth soccer camp, YMCA feasibility study & advancement of agriculture in our community

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 April 2025
IRS schema version
2023v6.0
Source object
202541199349302114

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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