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Nonprofiteer
← WESTERN NORTH CAROLINA REAL ESTATE FOUNDATION INC

Form 990 for tax year 2022

Filed by WESTERN NORTH CAROLINA REAL ESTATE FOUNDATION INC.

Totals

Total revenue
$291,330
Total expenses
$2,742
Contributions and grants received
$285,000
Grants paid
$0
Program service revenue
$0
Investment income
$9
Other revenue
$6,321
Total assets, end of year
$374,948
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$374,948
Program services expenses (Part IX)
$0
Management and general expenses
$2,742
Fundraising expenses
$0
Program service expenses (Part III)
$2,742

Program services were 0.0% 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.

  • 1d · Related organizations

    $6,000

  • 1f · All other contributions, gifts and grants

    $279,000

  • 1g · Noncash contributions included above

    $275,000

  • 3 · Investment income

    total $9 · excluded $9

  • 6a · Gross rents

    real property $8,400

  • 6b · Less rental expenses

    real property $2,079

  • 6c · Rental income or loss

    real property $6,321

  • 6d · Net rental income or loss

    total $6,321 · excluded $6,321

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $2,592 · management and general $2,592

  • 24a · Other expenses: BANK SERVICE CHARGES

    total $150 · management and general $150

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $86,359 · end of year $99,948

  • 15 · Other assets

    beginning of year $0 · end of year $275,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $86,359 · end of year $374,948

Mission and programs · 2022

Mission

TO DEVELOP CHARITABLE RESOURCES THROUGH THE ACQUISITION AND LIQUIDATION OF GIFTS OF REAL ESTATE AS THEY BECOME AVAILABLE FOR THE BENEFIT OF THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.

Activities or mission (Part I)

REFER TO SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENT.TO DEVELOP CHARITABLE RESOURCES THROUGH THE ACQUISITION AND LIQUIDATION OF REAL ESTATE, SUPPORTING THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.

  • DURING 2022-2023, NO PROPERTY WAS SOLD OR RELATED GRANTS MADE TO THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA. A GRANT OF RESIDENTIAL REAL PROPERTY WAS RECEIVED IN THE YEAR, VALUED AT $275,000. THE ORGANIZATION INCURRED ONLY MINIMAL MAINTENANCE EXPENSES ON EXISTING REAL ESTATE FOR FUTURE USE TO BENEFIT THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.

    Expenses $2,742

As filed on the 2022 return.

Listed in Part VII

  • William Clarke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Carla Barnard

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Graham Keever

    TREASURER

    Total calculated
    $237,916
    From this org
    $0
    From related orgs
    $193,026
    Other
    $44,890
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $193,026 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $44,890 related
    Filer's total
    $0 + $237,916 related

  • Laura Herndon

    VICE PRESIDENT/SECRETARY

    Total calculated
    $138,378
    From this org
    $0
    From related orgs
    $114,309
    Other
    $24,069
    Hours/week
    0.5 + 39.5 related

  • Christine Mallett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Barbara Baskerville

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kimberly Winters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Joanne Badr Morgan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Julie D Klipp

    PRESIDENT

    Total calculated
    $168,498
    From this org
    $0
    From related orgs
    $144,471
    Other
    $24,027
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $144,471 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $24,027 related
    Filer's total
    $0 + $168,498 related

  • Cynthia Eller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Josh Holmes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Falknor

    DIRECTOR

    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

None.

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

No itemized grants to organizations on this return.

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
19 January 2024
IRS schema version
2022v5.0
Source object
202440789349300314

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