Troon Foundation
- Assets
- $47.6m
- Revenue
- $2.2m
- Investments
- $45.1m
- Employees
- 0
- Location
- Elon, NC
- Founding
- 02/2012
- Data as of
- 06/2023
- 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 06/2023, Troon Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (16.3%) each year. All expenses for the organization totaled $3.3m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Troon Foundation has awarded 91 individual grants totaling $6,846,900. 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 | $315,433 |
| Interest on Savings | $4,823 |
| Dividends & Interest | $1,305,047 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $559,423 |
| Capital Gain Net Income | $671,178 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,184,726 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $26,378 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $408,688 |
| Total operating and administrative expenses | $444,581 |
| Contributions, gifts, grants paid | $2,838,300 |
| Total expenses and disbursements | $3,282,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,496,664 |
| 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 | $2,471,160 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $47,558,754 |
| 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 $2,838,300 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
ALAMANCE COMMUNITY COLLEGE FOUNDATION PURPOSE: TO FUND COSMETOLOGY, AGRICULTURE, AND DENTAL PROGRAMS. | $76,280 |
ALLIED CHURCHES OF ALAMANCE COUNTY PURPOSE: TO FUND COMMUNITY HOUSING. | $25,000 |
ALAMANCE COUNTY ECONOMIC DEVELOPMENT FOUNDATION PURPOSE: TO FUND EDUCATORS. | $5,000 |
BACKPACK BEGINNINGS PURPOSE: TO FUND EXPANSION CAMPAIGN. | $50,000 |
BENJAMIN HAIR SWIM PURPOSE: TO FUND SWIM PROGRAMS. | $42,300 |
BIG BROTHERS & SISTERS PURPOSE: TO FUND MENTORING. | $25,000 |