Wake Electric Care Inc
- Assets
- $182.5k
- Revenue
- $150.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Youngsville, NC
- Founding
- 04/1997
- Data as of
- 12/2022
- EIN
- 56-1938901
Organization Overview
Wake Electric Care Inc is located in Youngsville, NC. The organization was established in 1997. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Wake Electric Care Inc 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 12/2022, Wake Electric Care Inc generated $150.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $151.6k during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Wake Electric Care Inc has awarded 156 individual grants totaling $457,067. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE CONTRIBUTIONS TO 20 NORTH CAROLINA ELEMENTARY, MIDDLE AND HIGH SCHOOLS IN THE FORM OF BRIGHT IDEAS SCHOLARSHIPS TOTALING APPROXIMATELY 48,500.
CHARITABLE CONTRIBUTIONS TO NORTH CAROLINA DEPARTMENT OF HEALTH AND HUMAN RESOURCES TOTALING APPROXIMATELY 20,500.
CHARITABLE CONTRIBUTION IN THE FORM OF 16 INDIVIDUAL SCHOLARSHIPS TOTALING APPROXIMATELY 19,000 FOR STUDENTS TO ATTEND ACCREDITED UNIVERSITIES.
CHARITABLE CONTRIBUTIONS TO 6 LOCAL SCHOOLS AND COMMUNITY COLLEGES IN THE FORM OF CLASSROOM TECH TOTALING APPROXIMATELY 21,500
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Winston Kerley Vice Chairma | 1 | $0 | |
Jan Hopkins Secretary | 1 | $0 | |
Molly Bostic Director | 1 | $0 | |
Frances Mciver Chairman | 1 | $0 | |
Jim Mangum CEO | 1 | $0 | |
Frank Pearce Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $150,680 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $150,680 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $151,554 |
| Total expenses and disbursements | $151,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,462 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $182,462 |
| 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, Wake Electric Care Inc has awarded $151,554 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
DEPARTMENT OF HEALTH AND HUMAN RES PURPOSE: ENERGY ASSISTANCE | $20,375 |
WAKE EMC PURPOSE: COMMUNITY | $10,200 |
NC STATE UNIVERSITY PURPOSE: SCHOLARSHIP | $10,000 |
BUTNER-STEM ELEMENTARY SCHOOL PURPOSE: EDUCATIONAL | $8,288 |
FRANKLIN COUNTY EARLY COLLEGE HIGH PURPOSE: EDUCATIONAL | $7,150 |
NORTH WAKE COLLEGE CAREER ACADEMY PURPOSE: EDUCATIONAL | $5,777 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jewish Federation Of Greater Atlanta Inc Atlanta, GA | $335,156,066 | $46,977,032 |
United Way Of Middle Tennessee Inc Nashville, TN | $71,875,939 | $59,642,100 |
Americas Charities Chantilly, VA | $19,664,098 | $37,274,660 |
United Way Of South Hampton Roads Norfolk, VA | $66,003,873 | $28,678,324 |
United Way Of The National Capital Area Vienna, VA | $52,010,356 | $25,572,571 |
United Way Of Greater Richmond Richmond, VA | $16,886,120 | $22,666,995 |
United Way Of Greater Charlotte Charlotte, NC | $28,665,296 | $24,251,139 |
Chc Creating Healthier Communities Alexandria, VA | $23,119,840 | $20,885,598 |
United Way Of The Piedmont Inc Spartanburg, SC | $4,093,923 | $15,798,807 |
Bluecross Blueshield Of South Carolina Foundation Columbia, SC | $340,633,924 | $51,086,800 |
Safa Trust Inc Herndon, VA | $343,266,740 | $16,390,451 |
United Way Of Forsyth County Inc Winstonsalem, NC | $7,740,159 | $13,512,937 |