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Nonprofiteer
← NORTH CAROLINA ARTS FOUNDATION

Form 990 for tax year 2024

Filed by NORTH CAROLINA ARTS FOUNDATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2024 , filed 13 May 2026. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$2,359,376 changed to $1,774,499
Total expenses
$1,386,496 changed to $1,878,632
Contributions and grants received
$2,215,134 changed to $1,715,110
Grants paid
$902,500 changed to $1,402,500
Investment income
$138,364 changed to $53,511
Total assets, end of year
$3,462,881 changed to $992,573
Net assets or fund balances, end of year
$3,462,693 changed to $992,385
Program services expenses
$1,203,546 changed to $1,695,682
Program service expenses (Part III)
$1,203,546 changed to $1,695,682

Totals

Total revenue
$2,359,376
Total expenses
$1,386,496
Contributions and grants received
$2,215,134
Grants paid
$902,500
Program service revenue
$5,000
Investment income
$138,364
Other revenue
$878
Total assets, end of year
$3,462,881
Total liabilities, end of year
$188
Net assets or fund balances, end of year
$3,462,693
Program services expenses (Part IX)
$1,203,546
Management and general expenses
$182,950
Fundraising expenses
$0
Program service expenses (Part III)
$1,203,546

Program services were 86.8% 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

    $2,215,134

  • 2a · Program service revenue: A+ conference registra

    total $5,000 · related or exempt $5,000

  • 3 · Investment income

    total $85,066 · excluded $85,066

  • 7a · Gross sales of assets other than inventory

    securities $53,298

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

    securities $0

  • 7c · Gain or loss

    securities $53,298

  • 7d · Net gain or loss

    total $53,298 · excluded $53,298

  • 11a · Other revenue: Miscellaneous

    total $878 · excluded $878

  • 11e · Other revenue, total

    $878

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $902,500 · program services $902,500

  • 5 · Compensation of officers, directors and key employees

    total $120,000 · management and general $120,000

  • 11a · Fees: management

    total $271,440 · program services $245,944 · management and general $25,496

  • 11c · Fees: accounting

    total $20,207 · management and general $20,207

  • 11f · Fees: investment management

    total $7,864 · program services $7,864

  • 11g · Fees: other

    total $22,938 · program services $20,342 · management and general $2,596

  • 24a · Other expenses: Conferences and meeting

    total $20,505 · program services $15,469 · management and general $5,036

  • 24b · Other expenses: Other

    total $10,157 · program services $3,543 · management and general $6,614

  • 24c · Other expenses: School reimbursements

    total $7,884 · program services $7,884

  • 24d · Other expenses: Insurance

    total $3,001 · management and general $3,001

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $500,833 · end of year $992,573

  • 2 · Savings and temporary cash investments

    beginning of year $600,000

  • 15 · Other assets

    beginning of year $1,241,990 · end of year $2,470,308

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,315 · end of year $188

  • 27 · Net assets without donor restrictions

    beginning of year $131,665 · end of year $155,186

  • 28 · Net assets with donor restrictions

    beginning of year $2,206,843 · end of year $3,307,507

Mission and programs · 2024

Mission

The Foundation's mission is to bring private and public sector partners into collaborations that extend the benefits of the arts to residents across the state. As North Carolina emerges from the pandemic, a top priority is to find resources for arts initiatives that benefit youth.

Activities or mission (Part I)

Collaborate with individuals, arts and cultural organizations, other foundations and businesses, and the North Carolina Arts Council to support arts programs that have proven public value and are statewide or regional in scope.

  • Assistance to Western North Carolina: Relief related to the devastation that occurred in Western North Carolina from Hurricane Helene in the fall of 2024. The Foundation received and distributed funding to affected artists and non-profit arts organizations in twenty-six western counties through the NC Arts Disaster Relief Fund

    Expenses $923,113 · Grants $902,500

  • A+ Schools of North Carolina- Received grants for A+ Schools of North Carolina, a program of the North Carolina Arts Council, and administered contracted services to support teacher training, recruitment of teaching artists, and customized professional development for participating schools in the A+ network.

    Expenses $128,237

  • Keys for Kids funds a statewide network of arts partners that assist young people in North Carolina who want to learn to play piano by providing music instruction and instruments at little or no cost to the student.

    Expenses $116,683

  • Expenses $35,513

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Willingham

    President

    Total calculated
    $0
    Hours/week
    1

  • Marla Adams

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Chad Cheek

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joe Logan

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Henry Walston

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Stephen Hill

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.25

  • Beverly Nipper Bowles

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Davy Arch

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Suzanne Fetscher

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Lowder

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Mitchell

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Patrick Sims

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Wayne Martin

    Executive Director

    Total calculated
    $120,000
    From this org
    $120,000
    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.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
12 December 2025
IRS schema version
2024v5.2
Source object
202513569349301131

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