Troon Foundation
- Assets
- $48.7m
- Revenue
- $2.5m
- Investments
- $46.9m
- Employees
- 0
- Location
- Elon, NC
- Founding
- 02/2012
- Data as of
- 06/2022
- EIN
- 45-3804868
Organization Overview
Troon Foundation is located in Elon, NC. The organization was established in 2012. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Troon Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Troon Foundation generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.1%) each year. All expenses for the organization totaled $3.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Troon Foundation has awarded 63 individual grants totaling $4,008,600. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James M Piermarini President | 1 | $0 | |
Kathleen H Piermarini Treasurer/secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $70,000 |
| Interest on Savings | $35 |
| Dividends & Interest | $1,307,997 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,129,607 |
| Capital Gain Net Income | $1,129,607 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,507,639 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $31,701 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $412,154 |
| Total operating and administrative expenses | $464,630 |
| Contributions, gifts, grants paid | $2,651,500 |
| Total expenses and disbursements | $3,116,130 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,775,582 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,132,267 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $48,656,909 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Troon Foundation has awarded $2,651,500 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY CHARITABLE GIVING ACCOUNT OF JAMES M AND KATHLEEN H PIERMARINI PURPOSE: TO FUND CHARITABLE GIVING ACCOUNT. | $1,500,000 |
Burlington, NC PURPOSE: TO FUND GENERAL FUNDS AND HOUSING SPECIALIST. | $190,000 |
Verona, VA PURPOSE: TO FUND AGENCY CAPACITY. | $100,000 |
YMCA PURPOSE: TO PROVIDE VAN AND JBR FUNDS. | $80,000 |
CHRISTMAS CHEER PURPOSE: COVID GENERAL FUNDS. | $80,000 |
Staunton, VA PURPOSE: TO FUND CENTER AND MIDWIFE TRAINING. | $78,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Troon Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Mookerji Foundation Atlanta, GA PURPOSE: UNRESTRICTED | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Charitable Ashburn, VA | $209,799,923 | $22,185,205 |
Wnc Bridge Foundation Asheville, NC | $146,559,840 | $12,380,465 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
The Savannah Community Foundation Inc Savannah, GA | $54,173,792 | $9,998,384 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
The Giving Kitchen Initiative Inc Atlanta, GA | $5,202,127 | $3,829,430 |
Kermit G Phillips Ii Charitable Tr Greensboro, NC | $71,515,607 | $5,235,464 |
Troon Foundation Elon, NC | $48,656,909 | $2,507,639 |
Frances P Bunnelle Foundation Pawleys Island, SC | $50,346,506 | $4,044,110 |
Glass Family Foundation Inc Asheville, NC | $24,447,807 | $3,179,935 |
Speedway Childrens Charities Concord, NC | $415,792 | $1,752,353 |