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← CENTRE COUNTY COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by CENTRE COUNTY COMMUNITY FOUNDATION INC.

Totals

Total revenue
$6,043,071
Total expenses
$5,804,494
Contributions and grants received
$4,569,402
Grants paid
$4,378,774
Program service revenue
$9,060
Investment income
$1,604,800
Other revenue
-$140,191
Total assets, end of year
$78,171,662
Total liabilities, end of year
$15,695
Net assets or fund balances, end of year
$78,155,967
Program services expenses (Part IX)
$5,139,942
Management and general expenses
$358,018
Fundraising expenses
$306,534
Program service expenses (Part III)
$5,139,942

Program services were 88.6% 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.

  • 1c · Fundraising events

    $82,648

  • 1f · All other contributions, gifts and grants

    $4,486,754

  • 1g · Noncash contributions included above

    $794,865

  • 2f · All other program service revenue

    total $9,060 · related or exempt $9,060

  • 3 · Investment income

    total $1,302,081 · excluded $1,302,081

  • 7a · Gross sales of assets other than inventory

    securities $1,028,155 · other assets $25,037

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

    securities $750,473 · other assets $0

  • 7c · Gain or loss

    securities $277,682 · other assets $25,037

  • 7d · Net gain or loss

    total $302,719 · unrelated business $25,037 · excluded $277,682

  • 8a · Fundraising events: gross income

    $28,496

  • 8a · Fundraising events: contributions included on line 1c

    $82,648

  • 8b · Fundraising events: direct expenses

    $108,961

  • 8c · Net income from fundraising events

    total -$80,465 · excluded -$80,465

  • 11a · Other revenue: NET OPERATIONS OF LP INVESTEES

    total -$59,726 · unrelated business -$59,726

  • 11e · Other revenue, total

    -$59,726

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,378,774 · program services $4,378,774

  • 5 · Compensation of officers, directors and key employees

    total $173,080 · program services $74,187 · management and general $51,403 · fundraising $47,490

  • 7 · Other salaries and wages

    total $447,973 · program services $192,013 · management and general $133,044 · fundraising $122,916

  • 8 · Pension plan contributions

    total $12,927 · program services $5,540 · management and general $3,840 · fundraising $3,547

  • 9 · Other employee benefits

    total $72,207 · program services $30,950 · management and general $21,445 · fundraising $19,812

  • 10 · Payroll taxes

    total $45,566 · program services $19,530 · management and general $13,533 · fundraising $12,503

  • 11b · Fees: legal

    total $2,345 · management and general $2,345

  • 11c · Fees: accounting

    total $17,477 · management and general $17,477

  • 13 · Office expenses

    total $19,431 · program services $13,100 · management and general $3,547 · fundraising $2,784

  • 16 · Occupancy

    total $18,685 · program services $12,598 · management and general $3,410 · fundraising $2,677

  • 17 · Travel

    total $6,133 · program services $6,133

  • 19 · Conferences, conventions and meetings

    total $31,720 · program services $25,862 · management and general $2,929 · fundraising $2,929

  • 22 · Depreciation, depletion and amortization

    total $24,784 · program services $9,530 · management and general $9,267 · fundraising $5,987

  • 23 · Insurance

    total $5,390 · program services $3,634 · management and general $984 · fundraising $772

  • 24a · Other expenses: UBIT TAXES

    total $13,489 · management and general $13,489

  • 24b · Other expenses: INVESTMENT MGMT & ADMIN

    total $144,093 · program services $115,275 · management and general $25,216 · fundraising $3,602

  • 24c · Other expenses: COMPUTER EXPENSES

    total $88,268 · program services $59,510 · management and general $16,111 · fundraising $12,647

  • 24d · Other expenses: CENTRE GIVES WEBSITE FE

    total $67,903 · program services $30,557 · management and general $6,790 · fundraising $30,556

  • 24e · All other expenses

    total $234,249 · program services $162,749 · management and general $33,188 · fundraising $38,312

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $125,324 · end of year $130,763

  • 3 · Pledges and grants receivable

    beginning of year $21,669

  • 7 · Other notes and loans receivable

    beginning of year $253,277 · end of year $214,465

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

    $420,563

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

    $350,762

  • 10c · Land, buildings and equipment, net

    beginning of year $59,786 · end of year $69,801

  • 11 · Investments: publicly traded securities

    beginning of year $35,199,676 · end of year $38,578,802

  • 12 · Investments: other securities

    beginning of year $35,183,719 · end of year $39,159,500

  • 15 · Other assets

    beginning of year $17,474 · end of year $18,331

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,091 · end of year $0

  • 25 · Other liabilities

    beginning of year $19,772 · end of year $15,695

  • 27 · Net assets without donor restrictions

    beginning of year $70,832,062 · end of year $78,155,967

Mission and programs · 2023

Mission

CENTRE FOUNDATION FORMED TO RECEIVE, HOLD AND ADMINISTER FUNDS FOR THE BENEFIT OF THE COMMUNITY. ENDOWMENT FUNDS GENERATE EARNINGS FOR GRANTS TO LOCAL 501(C)(3) ORGANIZATIONS FOR THE BENEFIT OF ARTS, HUMANITIES, CULTURE, EDUCATION, RECREATION AND SOCIAL SERVICE AGENCIES IN CENTRE COUNTY PENNSYLVANIA AND SURROUNDING REGIONS.

Activities or mission (Part I)

TO INSPIRE AND FACILITATE A CULTURE OF GIVING AND ENGAGEMENT THAT CULTIVATES A VIBRANT, EQUITABLE AND INCLUSIVE COMMUNITY.

  • CENTRE FOUNDATION BELIEVES IN THE ORGANIZATIONS THAT ARE CREATING A BETTER FUTURE FOR CENTRE COUNTY AND THE DONORS WHO SUPPORT THEM. WE WORK TO INSPIRE PHILANTHROPY, BUILD ENDOWMENTS, CREATE COMMUNITY ENGAGEMENT, STRENGTHEN ORGANIZATIONS THROUGH TRAINING AND RESEARCH, FUND TRANSFORMATIVE PROJECTS, AND CONVENE EFFECTIVE PARTNERSHIPS AROUND COMMUNITY ISSUES. EACH YEAR, CENTRE FOUNDATION DISTRIBUTES GRANTS TO OVER 200 ORGANIZATIONS. PROGRAMS SUPPORT ALL KINDS OF WORK, ACROSS ALL NONPROFIT SECTORS AND FOCUSES INCLUDING: ARTS, HUMANITIES, CULTURE, EDUCATION, SOCIAL SERVICES AND CONSERVATION. WE PROVIDE ANNUAL COMMUNITY SUPPORT THROUGH OUR INNOVATIVE GIVING AND GRANTING PROGRAMS INCLUDING: CENTRE GIVES, CENTRE INSPIRES, CENTRE PACT, GIVING CIRCLE, FIELD OF INTEREST GRANTS, AND SCHOLARSHIPS TO UNIVERSITIES AND TRADE SCHOOLS. CENTRE FOUNDATION IS ACCREDITED THROUGH THE NATIONAL STANDARDS FOR U.S. COMMUNITY FOUNDATIONS.

    Expenses $5,139,942 · Grants $4,378,774 · Revenue $9,060

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

Listed in Part VII

  • KEN HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LYDIA ABDULLAH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARI GUSTAFSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAULA WILLIAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MADHURI SHRIKANT DESAI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIN MEITZLER

    VICE CHAIR/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • RANDY WOOLRIDGE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BOB HICKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BLAKE GALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • RICH KALIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATE BENNETT TRUITT

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • ELLEN MATIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SERIA CHATTERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOE DIONISIO

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • VENKAT BENDAPUDI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MOLLY KUNKEL

    PRESIDENT/CEO

    Total calculated
    $173,079
    From this org
    $149,329
    From related orgs
    $0
    Other
    $23,750
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,329
    Bonus
    $0
    Other
    $0
    Deferred
    $4,480
    Nontaxable benefits
    $19,270
    Filer's total
    $173,079

  • CARRIE RYAN

    CFO/COO

    Total calculated
    $152,266
    From this org
    $124,009
    From related orgs
    $0
    Other
    $28,257
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $124,009
    Bonus
    $0
    Other
    $0
    Deferred
    $3,720
    Nontaxable benefits
    $24,537
    Filer's total
    $152,266

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Form 990 of other organizations
  • 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

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.

  • FOUNDATION PROPERTY INC

    501(c)(3) · TO RECEIVE GIFTS FROM THE PUBLIC IN SUPPORT OF CENTRE FOUNDATION · PA · controlled entity

    Directly controlled by CENTRE FOUNDATION INC APPOINTS DIRECTORS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CENTRE GIVES LLC

    TO RECEIVE GIFTS FROM THE PUBLIC IN SUPPORT OF CENTRE FOUNDATION · PA · income $2,057,684 · assets $299,531

    Directly controlled by CENTRE FOUNDATION INC SOLE MEMBER

  • CENTRE FOUNDATION PROPERTIES LLC

    TO RECEIVE NON-CASH GIFTS FROM THE PUBLIC IN SUPPORT OF CENTRE FOUNDATION · PA · income $0 · assets $0

    Directly controlled by CENTRE FOUNDATION INC SOLE MEMBER

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349306375

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

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