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← WALKER AREA COMMUNITY FOUNDATION

Form 990 for tax year 2024

Filed by WALKER AREA COMMUNITY FOUNDATION.

Totals

Total revenue
$32,625,183
Total expenses
$10,453,655
Contributions and grants received
$19,847,516
Grants paid
$7,653,825
Program service revenue
$0
Investment income
$12,771,421
Other revenue
$6,246
Total assets, end of year
$151,933,359
Total liabilities, end of year
$34,162
Net assets or fund balances, end of year
$151,899,197
Program services expenses (Part IX)
$9,634,392
Management and general expenses
$407,603
Fundraising expenses
$411,660
Program service expenses (Part III)
$9,634,392

Program services were 92.2% 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.

  • 1f · All other contributions, gifts and grants

    $19,847,516

  • 3 · Investment income

    total $2,780,697 · excluded $2,780,697

  • 7a · Gross sales of assets other than inventory

    securities $9,990,724

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

    securities $0

  • 7c · Gain or loss

    securities $9,990,724

  • 7d · Net gain or loss

    total $9,990,724 · related or exempt $9,990,724

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $6,246 · related or exempt $6,246

  • 11e · Other revenue, total

    $6,246

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,653,825 · program services $7,653,825

  • 5 · Compensation of officers, directors and key employees

    total $293,787 · program services $235,030 · management and general $44,068 · fundraising $14,689

  • 7 · Other salaries and wages

    total $554,719 · program services $443,775 · management and general $83,208 · fundraising $27,736

  • 8 · Pension plan contributions

    total $39,536 · program services $31,629 · management and general $5,930 · fundraising $1,977

  • 9 · Other employee benefits

    total $57,125 · program services $45,700 · management and general $8,569 · fundraising $2,856

  • 10 · Payroll taxes

    total $63,347 · program services $50,678 · management and general $9,502 · fundraising $3,167

  • 11c · Fees: accounting

    total $11,700 · management and general $11,700

  • 11f · Fees: investment management

    total $498,822 · program services $498,822

  • 11g · Fees: other

    total $542,762 · program services $432,480 · management and general $104,737 · fundraising $5,545

  • 12 · Advertising and promotion

    total $297,091 · program services $47,535 · fundraising $249,556

  • 13 · Office expenses

    total $62,079 · program services $22,349 · management and general $4,966 · fundraising $34,764

  • 14 · Information technology

    total $8,065 · program services $3,225 · management and general $2,420 · fundraising $2,420

  • 16 · Occupancy

    total $110,543 · program services $44,217 · management and general $33,163 · fundraising $33,163

  • 17 · Travel

    total $17,781 · program services $10,669 · management and general $6,223 · fundraising $889

  • 22 · Depreciation, depletion and amortization

    total $88,633 · program services $62,043 · management and general $4,432 · fundraising $22,158

  • 23 · Insurance

    total $100,938 · program services $10,094 · management and general $80,750 · fundraising $10,094

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $52,902 · program services $42,321 · management and general $7,935 · fundraising $2,646

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,884,390 · end of year $1,747,826

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,739 · end of year $25,739

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

    $6,581,821

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

    $1,090,379

  • 10c · Land, buildings and equipment, net

    beginning of year $5,204,311 · end of year $5,491,442

  • 11 · Investments: publicly traded securities

    beginning of year $120,791,532 · end of year $144,660,573

  • 15 · Other assets

    beginning of year $7,779 · end of year $7,779

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,993 · end of year $34,162

  • 18 · Grants payable

    beginning of year $150,000

  • 27 · Net assets without donor restrictions

    beginning of year $127,560,772 · end of year $135,308,008

  • 28 · Net assets with donor restrictions

    beginning of year $185,986 · end of year $16,591,189

Mission and programs · 2024

Mission

TO SERVE AS A NONPROFIT DEDICATED TO THE NURTURE AND ADVANCEMENT OF THE COMMUNITY THROUGH FORMING AND PRESERVING CHARITABLE CAPITAL, AND USING THE PROCEEDS OF THAT CAPITAL TO BETTER THE COMMUNITY AS A WHOLE.

  • WALKER AREA COMMUNITY FOUNDATION PROVIDES GRANTS TO PROMOTE THE COMMUNITY HEALTH AND SOCIAL WELFARE OF CITIZENS WITHIN THE AREA TRADITIONALLY SERVED BY THE WALKER COUNTY HOSPITAL OR AS RECOMMENDED BY FUND ADVISORS AND APPROVED BY THE BOARD OF DIRECTORS TO 501(C)(3) ORGANIZATIONS OUTSIDE OF THE GENERAL SERVICE AREA.

    Expenses $9,634,392 · Grants $7,653,825

As filed on the 2024 return.

Listed in Part VII

  • DONALDSON EMILY

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ULZ LAURA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LAIRD MATTHEW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JACKSON EDWARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NOLEN JR ROBERT B

    SECRETARY AND TREASURER

    Total calculated
    $0
    Hours/week
    1

  • STUKES BETH THORNE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WARREN J DOUGLAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CALLAHAN KEVIN F

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • THORNLEY SCOTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALLEN ROBBIN REED

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GILBERT DREW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENNEDY PAUL

    PRESIDENT

    Total calculated
    $185,405
    From this org
    $185,405
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,405
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $185,405

  • RHODES HARRIS

    CHIEF FINANCIAL OFFICER

    Total calculated
    $108,383
    From this org
    $108,383
    From related orgs
    $0
    Other
    $0
    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

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

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

Provenance

Return type
form_990
Tax year
2024
Filed
17 April 2025
IRS schema version
2024v5.1
Source object
202541079349300624

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