Wake Electric Care Inc
- Assets
- $189.9k
- Revenue
- $152.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Youngsville, NC
- Founding
- 04/1997
- Data as of
- 12/2023
- 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 12/2023, Wake Electric Care Inc generated $152.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $144.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Wake Electric Care Inc has awarded 209 individual grants totaling $601,834. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE CONTRIBUTIONS TO 19 NORTH CAROLINA ELEMENTARY, MIDDLE AND HIGH SCHOOLS IN THE FORM OF BRIGHT IDEAS SCHOLARSHIPS TOTALING APPROXIMATELY 46,500.
CHARITABLE CONTRIBUTIONS TO NORTH CAROLINA DEPARTMENT OF HEALTH AND HUMAN RESOURCES TOTALING APPROXIMATELY 22,500.
CHARITABLE CONTRIBUTIONS TO 8 LOCAL SCHOOLS AND COMMUNITY COLLEGES IN THE FORM OF CLASSROOM TECH TOTALING APPROXIMATELY 20,000
CHARITABLE CONTRIBUTION IN THE FORM OF 15 INDIVIDUAL SCHOLARSHIPS TOTALING APPROXIMATELY 17,500 FOR STUDENTS TO ATTEND ACCREDITED UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frances Mciver Chairman | 1 | $0 | |
Winston Kerley Vice Chairma | 1 | $0 | |
Jan Hopkins Secretary | 1 | $0 | |
Frank Pearce Treasurer | 1 | $0 | |
Cedric Jones Director | 1 | $0 | |
Lisa Fuller Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $152,162 |
| 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 | $152,162 |
| 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 | $144,767 |
| Total expenses and disbursements | $144,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,857 |
| 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 | $189,857 |
| 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 $144,767 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: COMMUNITY | $1,000 |
APEX FRIENDSHIP ELEMENTARY PURPOSE: EDUCATIONAL | $2,014 |
APPALACHIAN STATE UNIVERSITY PURPOSE: SCHOLARSHIP | $2,000 |
ASSISTANCE LEAGUE OF TRIANGLE PURPOSE: COMMUNITY | $500 |
BOYS AND GIRLS CLUB OF WAKE COUNTY PURPOSE: COMMUNITY | $800 |
BRASSFIELD VOLUNTEER FIRE DEPARTMEN PURPOSE: COMMUNITY | $1,000 |