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Nonprofiteer
← NEW HANOVER COMMUNITY ENDOWMENT INC

Form 990 for tax year 2024

Filed by NEW HANOVER COMMUNITY ENDOWMENT INC.

Totals

Total revenue
$111,652,777
Total expenses
$73,806,669
Contributions and grants received
$25,000,000
Grants paid
$60,745,645
Program service revenue
$0
Investment income
$86,652,777
Other revenue
$0
Total assets, end of year
$1,548,109,603
Total liabilities, end of year
$53,826
Net assets or fund balances, end of year
$1,548,055,777
Program services expenses (Part IX)
$62,848,136
Management and general expenses
$10,958,533
Fundraising expenses
$0
Program service expenses (Part III)
$62,848,136

Program services were 85.2% 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.

  • 1e · Government grants (contributions)

    $25,000,000

  • 3 · Investment income

    total $38,735,551 · unrelated business $140,072 · excluded $38,595,479

  • 7a · Gross sales of assets other than inventory

    securities $95,642,825

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

    securities $47,725,599

  • 7c · Gain or loss

    securities $47,917,226

  • 7d · Net gain or loss

    total $47,917,226 · excluded $47,917,226

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $60,745,645 · program services $60,745,645

  • 5 · Compensation of officers, directors and key employees

    total $980,345 · program services $735,259 · management and general $245,086

  • 7 · Other salaries and wages

    total $746,211 · program services $559,659 · management and general $186,552

  • 8 · Pension plan contributions

    total $56,167 · program services $42,125 · management and general $14,042

  • 9 · Other employee benefits

    total $49,653 · program services $37,240 · management and general $12,413

  • 10 · Payroll taxes

    total $111,744 · program services $83,808 · management and general $27,936

  • 11b · Fees: legal

    total $89,338 · management and general $89,338

  • 11c · Fees: accounting

    total $69,361 · management and general $69,361

  • 11f · Fees: investment management

    total $9,980,633 · management and general $9,980,633

  • 11g · Fees: other

    total $441,657 · program services $331,243 · management and general $110,414

  • 13 · Office expenses

    total $38,333 · program services $28,750 · management and general $9,583

  • 14 · Information technology

    total $76,919 · program services $57,690 · management and general $19,229

  • 16 · Occupancy

    total $176,721 · program services $132,541 · management and general $44,180

  • 17 · Travel

    total $12,211 · program services $9,158 · management and general $3,053

  • 19 · Conferences, conventions and meetings

    total $61,744 · program services $46,308 · management and general $15,436

  • 23 · Insurance

    total $51,613 · program services $38,710 · management and general $12,903

  • 24a · Other expenses: Tax Expense-UBIT

    total $118,374 · management and general $118,374

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $94,304 · end of year $62,922

  • 2 · Savings and temporary cash investments

    beginning of year $14,817,081 · end of year $62,391,514

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,794,920 · end of year $13,100

  • 11 · Investments: publicly traded securities

    beginning of year $1,381,242,083 · end of year $1,485,642,067

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,261 · end of year $53,826

  • 28 · Net assets with donor restrictions

    beginning of year $1,408,924,127 · end of year $1,548,055,777

Mission and programs · 2024

Mission

To improve the health, education, safety, and economic opportunity of every person in our community.

  • Providing financial support to benefit the residents of New Hanover County and region. New Hanover Community Endowment, Inc. focuses on (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety in furtherance of the mission and initiatives of New Hanover County.

    Expenses $62,848,136 · Grants $60,745,645

As filed on the 2024 return.

Listed in Part VII

  • Spence Broadhurst

    Director/Assistant Treasurer

    Total calculated
    $0
    Hours/week
    8

  • Edel Segovia

    Director/Secretary

    Total calculated
    $0
    Hours/week
    8

  • Khadijia Tribie Reid

    Director/Assistant Secretary

    Total calculated
    $0
    Hours/week
    8

  • Bill Cameron

    Board Chair/Interim President

    Total calculated
    $0
    Hours/week
    8

  • Shannon Winslow

    Director/Vice Chair

    Total calculated
    $0
    Hours/week
    8

  • Jack Barto

    Director

    Total calculated
    $0
    Hours/week
    8

  • Bill Blair

    Director

    Total calculated
    $0
    Hours/week
    8

  • Chris Boney

    Director

    Total calculated
    $0
    Hours/week
    8

  • Cedric Dickerson

    Director

    Total calculated
    $0
    Hours/week
    8

  • Michele Holbrook

    Director (until 05/21/24)

    Total calculated
    $0
    Hours/week
    8

  • Patricia Kusek

    Director (until 03/01/24)

    Total calculated
    $0
    Hours/week
    8

  • Pat Maguire

    Director

    Total calculated
    $0
    Hours/week
    8

  • Mary Lyons Rouse

    Director

    Total calculated
    $0
    Hours/week
    8

  • David Sprunt

    Director

    Total calculated
    $0
    Hours/week
    8

  • Stedman Stevens

    Director (until 09/30/24)

    Total calculated
    $0
    Hours/week
    8

  • Woody White

    Director

    Total calculated
    $0
    Hours/week
    8

  • William Buster

    President (until 02/28/24)

    Total calculated
    $400,586
    From this org
    $386,134
    From related orgs
    $0
    Other
    $14,452
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $36,134
    Bonus
    $0
    Other
    $350,000
    Deferred
    $723
    Nontaxable benefits
    $13,729
    Filer's total
    $400,586

  • Lakesha McDay

    Vice President (until 10/15/24)

    Total calculated
    $255,488
    From this org
    $222,250
    From related orgs
    $0
    Other
    $33,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,217
    Bonus
    $0
    Other
    $16,033
    Deferred
    $8,890
    Nontaxable benefits
    $24,348
    Filer's total
    $255,488

  • Joel Beeson

    Treasurer

    Total calculated
    $235,018
    From this org
    $210,819
    From related orgs
    $0
    Other
    $24,199
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,394
    Bonus
    $0
    Other
    $5,425
    Deferred
    $8,233
    Nontaxable benefits
    $15,966
    Filer's total
    $235,018

  • Dan Winslow

    President

    Total calculated
    $89,252
    From this org
    $81,375
    From related orgs
    $0
    Other
    $7,877
    Hours/week
    40

  • Emily Page

    Director of Learning

    Total calculated
    $171,071
    From this org
    $148,188
    From related orgs
    $0
    Other
    $22,883
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,763
    Bonus
    $0
    Other
    $5,425
    Deferred
    $5,727
    Nontaxable benefits
    $17,156
    Filer's total
    $171,071

  • Leigh Quarles

    Network Officer

    Total calculated
    $143,288
    From this org
    $120,280
    From related orgs
    $0
    Other
    $23,008
    Hours/week
    40

  • Terri Burhans

    Network Officer

    Total calculated
    $135,962
    From this org
    $119,425
    From related orgs
    $0
    Other
    $16,537
    Hours/week
    40

  • Henry Maurer

    Director of Communications

    Total calculated
    $134,647
    From this org
    $104,600
    From related orgs
    $0
    Other
    $30,047
    Hours/week
    40

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 survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

Part I, Line 4a
William Buster received a severance payment of $350,000.

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

  • Cape Fear Community College Foundation Incorporated

    $5,609,774

    General support for programs, operations, and other charitable purposes

  • New Hanover County Schools

    $5,434,051

    General support for programs, operations, and other charitable purposes

  • YMCA of Southeastern North Carolina

    $5,275,458

    General support for programs, operations, and other charitable purposes

  • Shelter America Group

    $4,700,000

    General support for programs, operations, and other charitable purposes

  • Cape Fear Collective

    $4,137,000

    General support for programs, operations, and other charitable purposes

  • Cape Fear Habitat for Humanity

    $3,500,000

    General support for programs, operations, and other charitable purposes

  • New HOPE CDC

    $2,660,000

    General support for programs, operations, and other charitable purposes

  • University of North Carolina at Wilmington - College of Health & Human Serv

    $2,525,000

    General support for programs, operations, and other charitable purposes

  • New Hanover County - Administration

    $2,039,364

    General support for programs, operations, and other charitable purposes

  • MedNorth Health Center

    $2,000,000

    General support for programs, operations, and other charitable purposes

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

Provenance

Return type
form_990
Tax year
2024
Filed
29 October 2025
IRS schema version
2024v5.2
Source object
202523079349301207

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

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