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Nonprofiteer
← WALNUT COVE MEMBERS ASSOCIATION INC

Form 990 for tax year 2025

Filed by WALNUT COVE MEMBERS ASSOCIATION INC.

Totals

Total revenue
$731,890
Total expenses
$726,808
Contributions and grants received
$872,894
Grants paid
$715,250
Program service revenue
$0
Investment income
$10,673
Other revenue
-$151,677
Total assets, end of year
$72,287
Total liabilities, end of year
$56,606
Net assets or fund balances, end of year
$15,681
Program services expenses (Part IX)
$722,172
Management and general expenses
$4,636
Fundraising expenses
$0
Program service expenses (Part III)
$722,172

Program services were 99.4% 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.

  • 1b · Membership dues

    $82,525

  • 1c · Fundraising events

    $742,569

  • 1f · All other contributions, gifts and grants

    $47,800

  • 1g · Noncash contributions included above

    $24,947

  • 3 · Investment income

    total $10,692 · excluded $10,692

  • 7a · Gross sales of assets other than inventory

    securities $16,127

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

    securities $16,146

  • 7c · Gain or loss

    securities -$19

  • 7d · Net gain or loss

    total -$19 · excluded -$19

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $742,569

  • 8b · Fundraising events: direct expenses

    $165,404

  • 8c · Net income from fundraising events

    total -$165,404 · excluded -$165,404

  • 11a · Other revenue: SALES TAX REFUNDS

    total $13,727 · related or exempt $13,727

  • 11e · Other revenue, total

    $13,727

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $715,250 · program services $715,250

  • 11c · Fees: accounting

    total $2,975 · management and general $2,975

  • 11g · Fees: other

    total $662 · program services $497 · management and general $165

  • 13 · Office expenses

    total $304 · program services $228 · management and general $76

  • 14 · Information technology

    total $7,114 · program services $6,045 · management and general $1,069

  • 23 · Insurance

    total $301 · management and general $301

  • 24a · Other expenses: LICENSES

    total $202 · program services $152 · management and general $50

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,896 · end of year $1,643

  • 2 · Savings and temporary cash investments

    beginning of year $3,703 · end of year $63,763

  • 4 · Accounts receivable

    end of year $5,321

  • 9 · Prepaid expenses and deferred charges

    end of year $1,560

  • 19 · Deferred revenue

    end of year $56,606

  • 27 · Net assets without donor restrictions

    beginning of year $10,599 · end of year $15,681

Mission and programs · 2025

Mission

TO BUILD A SENSE OF COMMUNITY WITHIN WALNUT COVE AND TO SUPPORT OUR MEMBERS' CHARITABLE EFFORTS IN WESTERN NORTH CAROLINA.

Activities or mission (Part I)

LOCAL FUNDRAISING FOR PURPOSE OF MAKING CHARITABLE CONTRIBUTIONS TO LOCAL NONPROFIT ORGANIZATIONS.

  • THE WALNUT COVE MEMBERS ASSOCIATION (WCMA) CONSISTS OF THE CLIFFS AT WALNUT COVE PROPERTY OWNERS WHO ARE INTERESTED IN SUPPORTING LOCAL NONPROFIT CHARITIES AND JOIN THE ORGANIZATION THROUGH ANNUAL TAX-DEDUCTIBLE MEMBERSHIP DUES. THE WCMA IS A 501(C)(3) NONPROFIT THAT RAISES MONEY THROUGH ANNUAL DUES, MEMBER AND CORPORATE DONATIONS, AND CULMINATES WITH THE ANNUAL "CELEBRATION OF GIVING" WHICH TRADITIONALLY INCLUDES A GALA EVENING WITH A LIVE AUCTION, GOLF TOURNAMENT AND OTHER EVENTS. EVENT WINNERS CHOOSE THE CHARITY TO RECEIVE THEIR PRIZE MONEY. AT THE END OF EACH YEAR, THESE FUNDS ARE DISTRIBUTED TO A VARIETY OF LOCAL CHARITABLE ORGANIZATIONS BASED ON RECOMMENDATIONS SUBMITTED BY THE GRANT COMMITTEE TO THE BOARD OF DIRECTORS. IN ORDER TO QUALIFY, CHARITIES SUBMIT AN APPLICATION THAT MUST BE ACCOMPANIED BY AN APPLICATION FROM A WCMA MEMBER WHO MUST BE ACTIVELY INVOLVED IN THE CHARITY. THE WCMA IS MADE UP ENTIRELY OF UNPAID VOLUNTEERS COMMITTED TO MAKING SURE ALL AVAILABLE FUNDS GO DIRECTLY TO REPUTABLE LOCAL CHARITIES WHILE INCURRING MINIMAL OVERHEAD AND ADMINISTRATIVE EXPENSES. HISTORICALLY 98% OF ALL NET FUNDRAISING REVENUE HAS GONE DIRECTLY TO CHARITY. MEMBERSHIP IN THE WCMA SERVES A DUAL PURPOSE. NOT ONLY IS THE ORGANIZATION HELPING THOSE IN NEED WITHIN THE WESTERN NORTH CAROLINA COMMUNITY BUT IS ALSO SUPPORTING FRIENDS AND NEIGHBORS WHO ARE COMMITTED TO VOLUNTEERING FOR WORTHY CAUSES. SINCE ITS 2007 INCEPTION, THE WCMA HAS AWARDED 498 GRANTS TO 114 DIFFERENT CHARITIES, TOTALING OVER $4,800,000. WCMA CURRENTLY PRIORITIZES CHARITIES SUPPORTING BASIC NEEDS SUCH AS FOOD, SHELTER, HEALTH, AND EDUCATION IN WESTERN NORTH CAROLINA. WCMA BEGAN WITH JUST A FEW MEMBERS AND HAS GROWN TO MORE THAN 500 MEMBERS, MANY OF WHOM ARE ACTIVE VOLUNTEERS. WCMA'S SERVICE TO THE COMMUNITY, ALONG WITH ITS GENEROUS DONATIONS, HAS MADE WALNUT COVE A VALUED AND RESPECTED PART OF THE WESTERN NORTH CAROLINA REGION.

    Expenses $722,172 · Grants $715,250

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nancy Fredin

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Joe Tanner

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Sierra Paturalski

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Joe Tanner

    CO-TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Matt Aguiar

    CO-TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Jim Eligator

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Jeff Faistenhammer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Sue Olsen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Colette Rodbell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Silvia Silverstein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Stejbach

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Ron Billings

    CHAIR EMERITUS

    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.

Grants on this return

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

Provenance

Return type
form_990
Tax year
2025
Filed
14 May 2026
IRS schema version
2025v4.1
Source object
202601349349309020

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

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