Charlotte Rescue Mission Endowment
- Assets
- $1.6m
- Revenue
- $398.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 05/2015
- Data as of
- 06/2021
- EIN
- 47-2414761
Organization Overview
Charlotte Rescue Mission Endowment is located in Charlotte, NC. The organization was established in 2015. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlotte Rescue Mission Endowment 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 06/2021, Charlotte Rescue Mission Endowment generated $398.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 62.0% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHARLOTTE RESCUE MISSION ENDOWMENT'S PRIMARY PURPOSE IS TO RECEIVE, HOLD, AND MANAGE FUNDS INTENDED FOR THE BENEFIT OF CHARLOTTE RESCUE MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARLOTTE RESCUE MISSION ENDOWMENT'S PRIMARY PROGRAM IS THE RECEIVING, HOLDING, AND MANAGING OF FUNDS INTENDED FOR THE BENEFIT OF CHARLOTTE RESCUE MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Farley Chairman | OfficerTrustee | 2 | $0 |
Steven Divittorio Treasurer | OfficerTrustee | 2 | $0 |
Drew Russell Vice Chairman | OfficerTrustee | 2 | $0 |
Sean Preston Secretary | OfficerTrustee | 2 | $0 |
Anthony Marciano II President & CEO | Officer | 4 | $0 |
Brian Bara Chief Financial Officer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $376,221 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $376,221 |
| Total Program Service Revenue | $0 |
| Investment income | $19,193 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,839 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $398,253 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,486 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,642,559 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,648,045 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $237,302 |
| Total liabilities | $237,302 |
| Net assets without donor restrictions | $240,354 |
| Net assets with donor restrictions | $1,170,389 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,648,045 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Charlotte Rescue Mission Endowment has recieved totaling $502,121.
| Awarding Organization | Amount |
|---|---|
Lowes Foundation Mooresville, NC PURPOSE: Affordable Housing | $500,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $700 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $462 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $380 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $293 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $146 |
Endowment Analysis
| Beg. Balance | $1,113,694 |
| Earnings | $156,720 |
| Net Contributions | $372,145 |
| Ending Balance | $1,642,559 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Capital Inc Decatur, GA | $142,652,504 | $11,518,951 |
Housing Affordability Trust Nashville, TN | $52,052,062 | $6,258,607 |
Eastern Eight Community Development Corporation Johnson City, TN | $18,111,272 | $3,788,608 |
St Josephs Villa Foundation Richmond, VA | $27,697,790 | $1,723,000 |
Captrust Community Foundation Inc Raleigh, NC | $4,464,164 | $1,082,695 |
Thomasville-Thomas County Habitat For Humanity Inc Thomasville, GA | $1,651,165 | $641,558 |
Snapping Shoals Electric Trust Inc Covington, GA | $122,535 | $447,686 |
Habitat For Humanity Of North Carolina Inc Raleigh, NC | $680,613 | $355,089 |
Faithworks Inc Winchester, VA | $18,501 | $230,860 |
Danville Lions Foundation Inc Danville, VA | $3,088 | $202,004 |
Stepping Stone Mission Inc Alpharetta, GA | $173,851 | $0 |
Fayette County Citizens For Progress Inc Somerville, TN | $1,355,978 | $156,426 |