Verner
- Assets
- $5.5m
- Revenue
- $6.0m
- Investments
- $640.8k
- Employees
- 108
- Location
- Asheville, NC
- Founding
- 02/1998
- Data as of
- 08/2021
- EIN
- 56-2040462
Organization Overview
Verner is located in Asheville, NC. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 08/2021, Verner employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Verner 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 08/2021, Verner generated $6.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $4.5m during the year ending 08/2021. While expenses have increased by 7.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER WHOLISTIC LEARNING ENVIRONMENTS WHERE YOUNG CHILDREN AND FAMILIES THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGH QUALITY EARLY CARE AND EDUCATION IS PROVIDED TO A CAPACITY OF 204 CHILDREN AGES 6 WEEKS TO 5 YEARS, 3/4 TIME TO FULL TIME (FIVE DAYS PER WEEK UP TO 10 HOURS PER DAY THROUGHOUT BUNCOMBE COUNTY IN THREE LOCATIONS).
HOME VISITORS-VERNER OFFERS HOME VISITING PROGRAM FOR EXPECTANT FAMILIES AND YOUNG CHILDREN FROM BIRTH TO THREE YEARS AS PART OF EARLY HEAD START. APPROXIMATELY 74 LOW-INCOME FAMILIES ARE SERVED ANNUALLY THROUGHOUT BUNCOMBE COUNTY.
PROVIDE PROPER NUTRITION FOR THE CHILDREN IN THE CHILDCARE AND EARLY HEADSTART PROGRAMS THROUGH AN AWARD WINNING "RAINBOW IN MY TUMMY" PROGRAM.
THE FAMILY EMPOWERMENT PROGRAM PROVIDES OPPORTUNITIES FOR LOW-INCOME PARENTS AND CAREGIVERS TO CONTINUTE THEIR EDUCATION AND ACHIEVE ENGLISH PROFICIENCY WHILE THEIR CHILDREN RECEIVE HIGH QUALITY EARLY CARE EDUCATION AT ONE OF OUR THREE LOCATIONS THROUGHOUT BUNCOMBE COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcia Whitney President And Chief Execu | OfficerTrustee | 50 | $77,420 |
Tim F Amos VP Of Business & Financial Services | Officer | 40 | $73,578 |
Chris Crawford Treasurer | OfficerTrustee | 2 | $0 |
Chris Sparks Secretary | OfficerTrustee | 1 | $0 |
Kate Rebol Vice Chair | OfficerTrustee | 2 | $0 |
Steve W Sizemore Chair | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,359,317 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,636,906 |
| Noncash contributions included in lines 1a–1f | $40,206 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,996,223 |
| Total Program Service Revenue | $984,744 |
| Investment income | $6,205 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,716 |
| Net Income from Fundraising Events | $1,778 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,002,883 |
| 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. | $155,142 |
| Compensation of current officers, directors, key employees. | $24,823 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,692,570 |
| Pension plan accruals and contributions | $28,517 |
| Other employee benefits | $252,311 |
| Payroll taxes | $194,784 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,164 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,111 |
| Fees for services: Other | $30,763 |
| Advertising and promotion | $2,473 |
| Office expenses | $50,120 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,683 |
| Travel | $14,731 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $97,316 |
| Interest | $1,425 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $153,036 |
| Insurance | $24,563 |
| All other expenses | $87,693 |
| Total functional expenses | $4,475,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,123,313 |
| Savings and temporary cash investments | $415,044 |
| Pledges and grants receivable | $463,497 |
| Accounts receivable, net | $75,878 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,839 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,813,283 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $640,837 |
| Investments—program-related | $0 |
| Intangible assets | $9,289 |
| Other assets | $0 |
| Total assets | $5,543,980 |
| Accounts payable and accrued expenses | $282,345 |
| 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 | $75,058 |
| Unsecured mortgages and notes payable | $1,150,000 |
| Other liabilities | $0 |
| Total liabilities | $1,507,403 |
| Net assets without donor restrictions | $3,267,332 |
| Net assets with donor restrictions | $769,245 |
| 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 | $5,543,980 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Verner has recieved totaling $696,643.
| Awarding Organization | Amount |
|---|---|
Dogwood Health Trust Asheville, NC PURPOSE: BUILDING VERNER'S CAPACITY FOR EXPANDED, HIGH-QUALITY PROGRAMMING | $338,224 |
Dogwood Health Trust Asheville, NC PURPOSE: INCREASING ACCESS TO HIGH-QUALITY AND INCLUSIVE EARLY CARE AND EDUCATION AT THE NEW VERNER CENTRAL | $200,000 |
Wnc Bridge Foundation Asheville, NC PURPOSE: NOW GRANT | $70,000 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $48,990 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $14,429 |
Endowment Analysis
| Beg. Balance | $551,842 |
| Earnings | $93,935 |
| Net Contributions | $20,000 |
| Other Expense | $24,940 |
| Ending Balance | $640,837 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |
Edward C And Linda Dresner Levy Foundation Reston, VA | $6,482,787 | $4,609,179 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |