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Nonprofiteer
← CROSLAND FOUNDATION

Form 990 for tax year 2024

Filed by CROSLAND FOUNDATION.

Totals

Total revenue
$1,113,591
Total expenses
$2,373,236
Contributions and grants received
$0
Grants paid
$951,579
Program service revenue
$0
Investment income
$1,113,591
Other revenue
$0
Total assets, end of year
$129,014,425
Total liabilities, end of year
$8,318
Net assets or fund balances, end of year
$129,006,107
Program services expenses (Part IX)
$951,579
Management and general expenses
$1,421,657
Fundraising expenses
$0
Program service expenses (Part III)
$951,579

Program services were 40.1% 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.

  • 3 · Investment income

    total $1,115,818 · unrelated business $1,115,818

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

    securities $2,227

  • 7c · Gain or loss

    securities -$2,227

  • 7d · Net gain or loss

    total -$2,227 · unrelated business -$2,227

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $951,579 · program services $951,579

  • 5 · Compensation of officers, directors and key employees

    total $18,391 · management and general $18,391

  • 11a · Fees: management

    total $253,242 · management and general $253,242

  • 11b · Fees: legal

    total $713 · management and general $713

  • 11c · Fees: accounting

    total $37,671 · management and general $37,671

  • 11f · Fees: investment management

    total $57,786 · management and general $57,786

  • 13 · Office expenses

    total $1,263 · management and general $1,263

  • 23 · Insurance

    total $2,591 · management and general $2,591

  • 24a · Other expenses: FEDERAL INCOME TAX - UB

    total $1,050,000 · management and general $1,050,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,526 · end of year $137,586

  • 11 · Investments: publicly traded securities

    beginning of year $17,286,913 · end of year $17,999,336

  • 12 · Investments: other securities

    beginning of year $98,909,737 · end of year $110,877,503

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,400 · end of year $8,318

  • 27 · Net assets without donor restrictions

    beginning of year $116,208,776 · end of year $129,006,107

Mission and programs · 2024

Mission

THE MISSION OF THE CROSLAND FOUNDATION IS TO CREATE A PERPETUAL CHARITABLE LEGACY THROUGH THE DEVOTION AND APPLICATION OF ITS ASSETS EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF AND TO CARRY OUT THE PURPOSES (CONT ON SCHEDULE O)

Activities or mission (Part I)

SEE ATTACHMENT 1

  • SEE EXPLANATION FOR PART III, LINE 1

    Expenses $951,579 · Grants $951,579

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Crosland III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • James C Burbank

    TRUSTEE

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Dr Hunter Dyer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Jamie McLawhorn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Douglas W Ey Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Robert E Mason IV

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Courtauld Young

    TRUSTEE

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Boris Henderson

    TRUSTEE

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Adelaide Belk Martin

    TRUSTEE

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Elizabeth Kiser

    TRUSTEE

    Total calculated
    $262,379
    From this org
    $0
    From related orgs
    $208,235
    Other
    $54,144
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,200 related
    Bonus
    $0
    Other
    $0 + $1,035 related
    Deferred
    $0 + $37,296 related
    Nontaxable benefits
    $0 + $16,848 related
    Filer's total
    $0 + $262,379 related

  • James Merrifield

    TRUSTEE

    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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 4B
457(F) PLAN FOUNDATION FOR THE CAROLINAS, A RELATED ORGANIZATION, MAINTAINS A NON-QUALIFIED 457(F) PLAN FOR EMPLOYEES WHO ARE UNABLE TO MAXIMIZE EMPLOYER CONTRIBUTIONS TO THE QUALIFIED 403(B) PLAN DUE TO ANNUAL CONTRIBUTION LIMITS UNDER SECTION 415. ELIZABETH KISER PARTICIPATED IN THIS PLAN.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
31 October 2025
IRS schema version
2024v5.2
Source object
202523049349301227

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

The source document this was parsed from is served over the API, which is where bulk and document access live.