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Nonprofiteer
← WINSTON-SALEM FOUNDATION

Form 990 for tax year 2023

Filed by WINSTON-SALEM FOUNDATION.

Totals

Total revenue
$73,014,325
Total expenses
$91,071,721
Contributions and grants received
$38,715,598
Grants paid
$83,250,706
Program service revenue
$93,986
Investment income
$34,204,741
Other revenue
$0
Total assets, end of year
$641,591,558
Total liabilities, end of year
$1,930,789
Net assets or fund balances, end of year
$639,660,769
Program services expenses (Part IX)
$84,982,029
Management and general expenses
$4,599,004
Fundraising expenses
$1,490,688
Program service expenses (Part III)
$84,982,029

Program services were 93.3% 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

    $38,715,598

  • 1g · Noncash contributions included above

    $15,780,058

  • 2a · Program service revenue: Prior grants returned

    total $56,473 · related or exempt $56,473

  • 2b · Program service revenue: Event receipts

    total $35,928 · related or exempt $35,928

  • 2c · Program service revenue: Student loan interest

    total $1,585 · related or exempt $1,585

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $11,447,140 · unrelated business $77,411 · excluded $11,369,729

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $173,345,420

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

    securities $150,587,819

  • 7c · Gain or loss

    securities $22,757,601 · other assets $0

  • 7d · Net gain or loss

    total $22,757,601 · excluded $22,757,601

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $81,646,306 · program services $81,646,306

  • 2 · Grants to domestic individuals

    total $1,604,400 · program services $1,604,400

  • 5 · Compensation of officers, directors and key employees

    total $1,158,956 · program services $86,817 · management and general $622,520 · fundraising $449,619

  • 7 · Other salaries and wages

    total $2,252,051 · program services $979,330 · management and general $768,424 · fundraising $504,297

  • 8 · Pension plan contributions

    total $167,499 · program services $66,603 · management and general $55,115 · fundraising $45,781

  • 9 · Other employee benefits

    total $295,970 · program services $132,794 · management and general $90,868 · fundraising $72,308

  • 10 · Payroll taxes

    total $226,327 · program services $73,988 · management and general $88,100 · fundraising $64,239

  • 11a · Fees: management

    total $6,957 · management and general $6,957

  • 11b · Fees: legal

    total $55,373 · program services $2,000 · management and general $34,782 · fundraising $18,591

  • 11c · Fees: accounting

    total $47,956 · management and general $47,956

  • 11d · Fees: lobbying

    total $14,100 · management and general $14,100

  • 11f · Fees: investment management

    total $1,707,722 · management and general $1,707,722

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

    total $89,199 · program services $29,517 · management and general $59,682

  • 13 · Office expenses

    total $99,906 · program services $21,449 · management and general $60,638 · fundraising $17,819

  • 14 · Information technology

    total $314,030 · management and general $314,023 · fundraising $7

  • 16 · Occupancy

    total $456,833 · program services $101,885 · management and general $354,948

  • 17 · Travel

    total $3,873 · program services $658 · management and general $1,066 · fundraising $2,149

  • 19 · Conferences, conventions and meetings

    total $342,051 · program services $120,353 · management and general $163,742 · fundraising $57,956

  • 23 · Insurance

    total $31,589 · management and general $29,646 · fundraising $1,943

  • 24a · Other expenses: Consultants stipend

    total $188,267 · program services $96,737 · management and general $53,495 · fundraising $38,035

  • 24b · Other expenses: Decrease in CSV for life insurance policies

    total $174,599 · fundraising $174,599

  • 24c · Other expenses: All other expenses

    total $125,053 · program services $12,467 · management and general $92,741 · fundraising $19,845

  • 24d · Other expenses: Due, fees & memberships

    total $43,175 · program services $6,725 · management and general $28,993 · fundraising $7,457

  • 24e · All other expenses

    total $19,529 · program services $0 · management and general $3,486 · fundraising $16,043

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $34,089,275 · end of year $33,698,136

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $100,000 · end of year $100,000

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

    $5,594,790

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $5,324,790 · end of year $5,594,790

  • 11 · Investments: publicly traded securities

    beginning of year $334,767,463 · end of year $319,813,746

  • 12 · Investments: other securities

    beginning of year $254,052,424 · end of year $281,766,540

  • 13 · Investments: program-related

    beginning of year $71,779 · end of year $37,875

  • 15 · Other assets

    beginning of year $785,791 · end of year $580,471

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,138 · end of year $2,503

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $2,930,971 · end of year $1,928,286

  • 27 · Net assets without donor restrictions

    beginning of year $626,257,413 · end of year $639,660,769

Mission and programs · 2023

Mission

We inspire giving and link resources to action, strengthening Forsyth County now and forever.

Activities or mission (Part I)

Community Foundation (see P.2, Form 990, Part III for additional information)

  • Grant program - administering approximately 1,060 endowed funds and 573 temporary funds as well as providing advisory services for the benefit of various cultural, educational, health, social, and religious organizations in the community. Includes scholarships primarily to Forsyth County residents upon approval by an advisory committee under the Foundation's guidance.

    Expenses $84,293,753 · Grants $82,907,206 · Revenue $58,058

  • Focused initiatives to increase philanthropy among African Americans, women, and youth. Advisory committees and giving circles utilized to promote philanthropy and to award grants deemed applicable.

    Expenses $688,276 · Grants $343,500 · Revenue $35,928

As filed on the 2023 return.

Listed in Part VII

  • Alison Ashe-Card

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Evelyn Acree

    Treasurer/Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Joe Crocker

    Secretary/Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Alex Barrett

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Allan Younger

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Carol Davis

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Jeff Lindsay

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Matt Cullinan

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Oscar Santos

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Paula McCoy

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Peggy Reingold

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Tom Lawson

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Wendy Brenner

    Committee Member

    Total calculated
    $0
    Hours/week
    1

  • Bank of America Private Bank

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Truist

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Wells Fargo Bank

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Andrea M Hulighan

    Director, Strategic Initiatives

    Total calculated
    $192,825
    From this org
    $153,889
    From related orgs
    $0
    Other
    $38,936
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,729
    Bonus
    $12,500
    Other
    $2,660
    Deferred
    $15,000
    Nontaxable benefits
    $23,936
    Filer's total
    $192,825

  • Annette P Lynch

    VP, Philanthropic Services

    Total calculated
    $207,615
    From this org
    $174,663
    From related orgs
    $0
    Other
    $32,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,103
    Bonus
    $5,000
    Other
    $31,560
    Deferred
    $17,382
    Nontaxable benefits
    $15,570
    Filer's total
    $207,615

  • J Todd Slate

    VP, Finance

    Total calculated
    $238,697
    From this org
    $203,304
    From related orgs
    $0
    Other
    $35,393
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,000
    Bonus
    $14,704
    Other
    $600
    Deferred
    $19,408
    Nontaxable benefits
    $15,985
    Filer's total
    $238,697

  • LaTida M Smith

    President

    Total calculated
    $347,269
    From this org
    $281,834
    From related orgs
    $0
    Other
    $65,435
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,078
    Bonus
    $5,000
    Other
    $7,756
    Deferred
    $28,670
    Nontaxable benefits
    $36,765
    Filer's total
    $347,269

  • Sheila M Virgil

    VP, Development & Donor Services

    Total calculated
    $172,550
    From this org
    $163,010
    From related orgs
    $0
    Other
    $9,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,000
    Bonus
    $12,500
    Other
    $1,510
    Deferred
    $7,500
    Nontaxable benefits
    $2,040
    Filer's total
    $172,550

  • Adelia S Matthews

    Controller

    Total calculated
    $151,619
    From this org
    $116,002
    From related orgs
    $0
    Other
    $35,617
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,402
    Bonus
    $5,000
    Other
    $600
    Deferred
    $12,179
    Nontaxable benefits
    $23,438
    Filer's total
    $151,619

  • Carolyn O Fulton

    Director, Marketing & Communications

    Total calculated
    $143,724
    From this org
    $109,765
    From related orgs
    $0
    Other
    $33,959
    Hours/week
    40

  • D Patrick Meehan

    Director, Information Systems & Technology

    Total calculated
    $162,323
    From this org
    $120,489
    From related orgs
    $0
    Other
    $41,834
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,589
    Bonus
    $5,000
    Other
    $900
    Deferred
    $12,960
    Nontaxable benefits
    $28,874
    Filer's total
    $162,323

  • Jonathan D Halsey

    Philanthropic Advisor

    Total calculated
    $128,805
    From this org
    $104,401
    From related orgs
    $0
    Other
    $24,404
    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 committee
  • 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.

  • The Millenium Fund

    501(c)(3) · Downtown infrastructure & site development, economic recruitment · NC

    Directly controlled by NA

  • Neighbors for Better Neighborhoods

    501(c)(3) · Technical assistance & training to low income neighborhood associations. · NC

    Directly controlled by NA

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PSA Partners 1 LP

    Related · Investment Partnership · NC · 98% owned · share of income -$2,381

    Directly controlled by NA

  • RGA Partners 1 LP

    Related · Investment Partnership · NY · 98% owned · share of income $97,441

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202423139349302852

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