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Nonprofiteer
← FOUNDATION FOR THE CAROLINAS

Form 990 for tax year 2022

Filed by FOUNDATION FOR THE CAROLINAS.

Totals

Total revenue
$953,517,849
Total expenses
$414,316,706
Contributions and grants received
$886,725,491
Grants paid
$372,585,670
Program services expenses (Part IX)
$405,171,995
Management and general expenses
$8,537,658
Fundraising expenses
$607,053
Program service expenses (Part III)
$405,171,995

Program services were 97.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JEWELL HOOVER

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • CHANTAY BOULER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARIAN STEELE CLARK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KIETH COCKRELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MALCOMB COLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • BETSY FLEMING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • LYNN GOOD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JADA GRANDY-MOCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KELLY KATTERHAGEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SUSAN KLUTTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • RALPH LOPEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • GENE MCLAURIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ARRINGTON MIXON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • TOM NELSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JANCY PATRICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CHRIS POPLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • RUTH SHAW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • FRED WHITFIELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL MARSICANO

    PRESIDENT & CEO

    Total calculated
    $898,324
    From this org
    $817,136
    From related orgs
    $0
    Other
    $81,188
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $522,647
    Bonus
    $200,000
    Other
    $94,489
    Deferred
    $61,000
    Nontaxable benefits
    $20,188
    Filer's total
    $898,324

  • LAURA SMITH

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $538,539
    From this org
    $448,088
    From related orgs
    $0
    Other
    $90,451
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $327,157
    Bonus
    $110,000
    Other
    $10,931
    Deferred
    $75,400
    Nontaxable benefits
    $15,051
    Filer's total
    $538,539

  • DAVID B COLLIER

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $439,684
    From this org
    $353,868
    From related orgs
    $0
    Other
    $85,816
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $284,094
    Bonus
    $35,000
    Other
    $34,774
    Deferred
    $59,913
    Nontaxable benefits
    $25,903
    Filer's total
    $439,684

  • NIKHIL SAWANT

    EVP AND CIO

    Total calculated
    $556,153
    From this org
    $449,410
    From related orgs
    $0
    Other
    $106,743
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $283,605
    Bonus
    $160,000
    Other
    $5,805
    Deferred
    $82,035
    Nontaxable benefits
    $24,708
    Filer's total
    $556,153

  • DEBRA S WATT

    EVP & CHRO

    Total calculated
    $405,748
    From this org
    $325,722
    From related orgs
    $0
    Other
    $80,026
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $205,657
    Bonus
    $115,000
    Other
    $5,065
    Deferred
    $59,625
    Nontaxable benefits
    $20,401
    Filer's total
    $405,748

  • DOUGLAS W BENSON

    SVP & GENERAL COUNSEL

    Total calculated
    $314,887
    From this org
    $270,939
    From related orgs
    $0
    Other
    $43,948
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $227,714
    Bonus
    $40,000
    Other
    $3,225
    Deferred
    $32,400
    Nontaxable benefits
    $11,548
    Filer's total
    $314,887

  • ALYSSA FEDERICO

    SVP - FINANCE

    Total calculated
    $293,108
    From this org
    $258,695
    From related orgs
    $0
    Other
    $34,413
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $197,978
    Bonus
    $58,500
    Other
    $2,217
    Deferred
    $31,020
    Nontaxable benefits
    $3,393
    Filer's total
    $293,108

  • ELIZABETH KISER

    SVP - PHILANTHROPIC ADVANC

    Total calculated
    $204,374
    From this org
    $179,386
    From related orgs
    $0
    Other
    $24,988
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $161,912
    Bonus
    $15,000
    Other
    $2,474
    Deferred
    $6,702
    Nontaxable benefits
    $18,286
    Filer's total
    $204,374

  • TARA KEENER

    SVP - MARKETING & COMMUNIC

    Total calculated
    $209,541
    From this org
    $169,906
    From related orgs
    $0
    Other
    $39,635
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,071
    Bonus
    $15,000
    Other
    $1,835
    Deferred
    $20,340
    Nontaxable benefits
    $19,295
    Filer's total
    $209,541

  • BLAIR STANFORD

    CELC EXECUTIVE DIRECTOR

    Total calculated
    $356,662
    From this org
    $282,583
    From related orgs
    $0
    Other
    $74,079
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $210,006
    Bonus
    $70,000
    Other
    $2,577
    Deferred
    $51,541
    Nontaxable benefits
    $22,538
    Filer's total
    $356,662

  • MUNRO C RICHARDSON

    READ CHARLOTTE EXECUTIVE DIRECTOR

    Total calculated
    $253,583
    From this org
    $193,889
    From related orgs
    $0
    Other
    $59,694
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $171,360
    Bonus
    $20,000
    Other
    $2,529
    Deferred
    $37,116
    Nontaxable benefits
    $22,578
    Filer's total
    $253,583

  • SHERRI S CHISHOLM

    LOO EXECUTIVE DIRECTOR

    Total calculated
    $218,394
    From this org
    $184,175
    From related orgs
    $0
    Other
    $34,219
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $164,814
    Bonus
    $17,500
    Other
    $1,861
    Deferred
    $11,556
    Nontaxable benefits
    $22,663
    Filer's total
    $218,394

  • CHARLES G BEURIS

    VP & DIRECTOR - INVESTMENT REPORTING

    Total calculated
    $201,032
    From this org
    $161,528
    From related orgs
    $0
    Other
    $39,504
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,090
    Bonus
    $12,500
    Other
    $4,938
    Deferred
    $28,800
    Nontaxable benefits
    $10,704
    Filer's total
    $201,032

  • EVAN N WOLKOFSKY

    ASSISTANT DEPUTY COUNSEL

    Total calculated
    $196,224
    From this org
    $159,243
    From related orgs
    $0
    Other
    $36,981
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,678
    Bonus
    $12,500
    Other
    $2,065
    Deferred
    $19,740
    Nontaxable benefits
    $17,241
    Filer's total
    $196,224

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 — 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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
THE FOUNDATION PAYS FOR A CHARLOTTE CITY CLUB MEMBERSHIP IN MICHAEL MARSICANO'S NAME TO FACILITATE CLIENT MEETINGS. A CORPORATE MEMBERSHIP IS NOT AVAILABLE THROUGH THE CHARLOTTE CITY CLUB. ALL EXPENSES RELATED TO MEETINGS AT THE CHARLOTTE CITY CLUB MUST BE APPROVED UNDER THE ESTABLISHED REIMBURSEMENT PROCEDURES OF THE FOUNDATION.
PART I, LINE 4B
THE FOUNDATION MAINTAINS A 457(B) PLAN FOR TOP EXECUTIVES. THE CONTRIBUTIONS TO THE PLAN DURING 2022 FOR PERSONS LISTED IN PART VII WERE AS FOLLOWS: DOUG BENSON $20,500 DAVID B. COLLIER $20,500 MICHAEL MARSICANO $20,500 NIKHIL SAWANT $20,500 LAURA J. SMITH $20,500 DEBRA WATT $20,500 HOLLY WELCH STUBBING $20,500 THE FOUNDATION MAINTAINS A 457(F) PLAN FOR TOP EXECUTIVES. THE CONTRIBUTIONS TO THE PLAN DURING 2022 FOR PERSONS LISTED IN PART VII WERE AS FOLLOWS: MICHAEL MARSICANO $70,400 NIKHIL SAWANT $21,035 LAURA J. SMITH $5,126 HOLLY WELCH STUBBING $20,900

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.

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
15 November 2023
IRS schema version
2022v5.0
Source object
202343199349307329

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

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