Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,978,955

• 1f · All other contributions, gifts and grants

  $9,931,996

• 1g · Noncash contributions included above

  $3,828,660

• 2a · Program service revenue: ADMIN FEE INCOME

  total $268,907 · related or exempt $268,907

• 2b · Program service revenue: EVENT INCOME

  total $145,963 · related or exempt $145,963

• 2f · All other program service revenue

  total $2,929 · related or exempt $2,929

• 3 · Investment income

  total $4,508,846 · excluded $4,508,846

• 7a · Gross sales of assets other than inventory

  securities $114,624,579

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

  securities $116,037,389

• 7c · Gain or loss

  securities -$1,412,810

• 7d · Net gain or loss

  total -$1,412,810 · excluded -$1,412,810

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $14,417,415 · program services $14,417,415

• 2 · Grants to domestic individuals

  total $234,251 · program services $234,251

• 5 · Compensation of officers, directors and key employees

  total $473,869 · program services $259,223 · management and general $214,646

• 7 · Other salaries and wages

  total $1,581,821 · program services $776,802 · management and general $707,420 · fundraising $97,599

• 8 · Pension plan contributions

  total $78,826 · program services $38,477 · management and general $35,073 · fundraising $5,276

• 9 · Other employee benefits

  total $220,131 · program services $110,591 · management and general $97,979 · fundraising $11,561

• 10 · Payroll taxes

  total $142,172 · program services $71,555 · management and general $63,707 · fundraising $6,910

• 11c · Fees: accounting

  total $79,291 · program services $11,608 · management and general $67,683

• 11f · Fees: investment management

  total $1,408,988 · management and general $1,408,988

• 11g · Fees: other

  total $136,362 · program services $100,080 · management and general $33,325 · fundraising $2,957

• 12 · Advertising and promotion

  total $463,703 · program services $409,959 · management and general $49,364 · fundraising $4,380

• 13 · Office expenses

  total $78,423 · program services $43,019 · management and general $32,332 · fundraising $3,072

• 14 · Information technology

  total $83,305 · program services $43,501 · management and general $36,560 · fundraising $3,244

• 16 · Occupancy

  total $185,767 · program services $96,726 · management and general $81,784 · fundraising $7,257

• 17 · Travel

  total $4,866 · program services $3,625 · management and general $1,140 · fundraising $101

• 19 · Conferences, conventions and meetings

  total $30,788 · program services $17,231 · management and general $12,452 · fundraising $1,105

• 20 · Interest

  total $81,531 · program services $81,531

• 22 · Depreciation, depletion and amortization

  total $208,228 · management and general $208,228

• 23 · Insurance

  total $34,368 · management and general $34,368

• 24a · Other expenses: EVENT EXPENSES

  total $218,583 · program services $76,463 · management and general $142,120

• 24b · Other expenses: STAFF/BOARD DEVELOPMENT

  total $141,919 · program services $76,245 · management and general $59,248 · fundraising $6,426

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $39,688 · program services $560 · management and general $39,128

• 24e · All other expenses

  total $34,913 · program services $13,610 · management and general $14,490 · fundraising $6,813

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $8,731,828 · end of year $7,466,469

• 3 · Pledges and grants receivable

  beginning of year $3,651,146 · end of year $1,953,617

• 7 · Other notes and loans receivable

  end of year $3,500,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $80,633 · end of year $126,802

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

  $2,073,003

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

  $697,741

• 10c · Land, buildings and equipment, net

  beginning of year $1,564,653 · end of year $1,375,262

• 11 · Investments: publicly traded securities

  beginning of year $117,373,859 · end of year $130,788,298

• 12 · Investments: other securities

  beginning of year $94,637,518 · end of year $110,984,694

• 13 · Investments: program-related

  beginning of year $50,438 · end of year $15,427

• 15 · Other assets

  beginning of year $4,086,950 · end of year $3,893,438

• 17 · Accounts payable and accrued expenses

  beginning of year $63,034 · end of year $304,859

• 18 · Grants payable

  beginning of year $2,841,827 · end of year $3,246,834

• 19 · Deferred revenue

  beginning of year $1,911,109 · end of year $1,849,566

• 23 · Secured mortgages and notes payable

  beginning of year $2,700,826 · end of year $272,011

• 25 · Other liabilities

  beginning of year $23,661,119 · end of year $30,652,022

• 27 · Net assets without donor restrictions

  beginning of year $86,171,239 · end of year $92,992,413

• 28 · Net assets with donor restrictions

  beginning of year $112,827,871 · end of year $130,786,302

The filer's explanations (Part III)

PART I, LINES 4A-B

ATHAN LINDSAY RECEIVED A SEVERANCE PAYMENT IN THE CURRENT YEAR OF $91,500. MICHAEL HUMPHREY RECEIVED A SEVERANCE PAYMENT IN THE CURRENT YEAR OF $67,667. H. WALKER SANDERS PARTICIPATED IN A SECTION 457(F) DEFERRED RETENTION BONUS PLAN. VESTED AMOUNTS ARE DISTRIBUTABLE UPON THE EARLIEST OF THE FOLLOWING: SPECIFIED DISTRIBUTION DATE, JUNE 30, 2032; INVOLUNTARY SEPARATION FROM SERVICE WITHOUT CAUSE; TERMINATION FOR GOOD REASON; OR DISABILITY. THERE WERE NO PAYMENTS UNDER THE PLAN IN THE CURRENT YEAR.

PART I, LINE 7

ALL EMPLOYEES RECEIVED A $100 YEAR-END BONUS NOT BASED ON REVENUE OR ASSET GROWTH. ALL EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN AN INCENTIVE PLAN BASED ON INDIVIDUAL PERFORMANCE AND ORGANIZATIONAL FINANCIAL PERFORMANCE.

Disregarded entities

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

• TPAC LLC

  ADMINISTER PLEDGES AND COORDINATE GRANTS TO BUILD PERFORMING ARTS CENTER · NC · income $374,507 · assets $384,807

  Directly controlled by COMMUNITY FOUNDATION OF GREATER GREENSBORO INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER TRUSTS (5)

  T · REMAINDER TRUSTS · NC