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Nonprofiteer
← CROSLAND FOUNDATION

Form 990 for tax year 2022

Filed by CROSLAND FOUNDATION.

Totals

Total revenue
$1,964,452
Total expenses
$1,349,484
Contributions and grants received
$1,967,410
Grants paid
$1,135,198
Program service revenue
$0
Investment income
-$2,958
Other revenue
$0
Total assets, end of year
$16,720,151
Total liabilities, end of year
$4,171
Net assets or fund balances, end of year
$16,715,980
Program services expenses (Part IX)
$1,135,198
Management and general expenses
$214,286
Fundraising expenses
$0
Program service expenses (Part III)
$1,135,198

Program services were 84.1% 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.

  • 1f · All other contributions, gifts and grants

    $1,967,410

  • 1g · Noncash contributions included above

    $1,349,811

  • 7a · Gross sales of assets other than inventory

    securities $48,798

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

    securities $51,756

  • 7c · Gain or loss

    securities -$2,958

  • 7d · Net gain or loss

    total -$2,958 · related or exempt -$2,958

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,135,198 · program services $1,135,198

  • 5 · Compensation of officers, directors and key employees

    total $6,750 · management and general $6,750

  • 11a · Fees: management

    total $117,174 · management and general $117,174

  • 11b · Fees: legal

    total $7,504 · management and general $7,504

  • 11c · Fees: accounting

    total $26,880 · management and general $26,880

  • 11f · Fees: investment management

    total $53,010 · management and general $53,010

  • 11g · Fees: other

    total $726 · management and general $726

  • 23 · Insurance

    total $2,242 · management and general $2,242

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,374 · end of year $13,218

  • 11 · Investments: publicly traded securities

    beginning of year $18,911,814 · end of year $15,408,878

  • 12 · Investments: other securities

    end of year $1,298,055

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,225 · end of year $4,171

  • 18 · Grants payable

    beginning of year $10,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $18,919,963 · end of year $16,715,980

Mission and programs · 2022

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 $1,135,198 · Grants $1,135,198

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • June G Rhyne

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • John Crosland III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • James C Burbank

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Mark W Mealy

    TRUSTEE

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

  • William J Sullivan

    TRUSTEE

    Total calculated
    $2,250
    From this org
    $2,250
    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
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Elizabeth Trotman

    TRUSTEE

    Total calculated
    $160,656
    From this org
    $0
    From related orgs
    $133,750
    Other
    $26,906
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,924 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $1,826 related
    Deferred
    $0 + $14,743 related
    Nontaxable benefits
    $0 + $12,163 related
    Filer's total
    $0 + $160,656 related

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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)

457(F) PLAN
FOUNDATION FOR THE CAROLINAS 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 TROTMAN 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
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313199349305186

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

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