Verner
- Assets
- $5.3m
- Revenue
- $6.3m
- Investments
- $735.1k
- Employees
- 137
- Location
- Asheville, NC
- Founding
- 02/1998
- Data as of
- 08/2023
- 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 08/2023, Verner employed 137 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 08/2023, Verner generated $6.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $6.3m during the year ending 08/2023. While expenses have increased by 10.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER HOLISTIC 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leah Broker Director | Trustee | 1 | $0 |
Alina Clarke Director | Trustee | 1 | $0 |
Chris Crawford Treasurer/pa | OfficerTrustee | 3 | $0 |
Betsy Ervin Director | Trustee | 1 | $0 |
Charlie Glazener Chair | OfficerTrustee | 3 | $0 |
Grace Hall Vice Chair | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,293,238 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,686,123 |
| Noncash contributions included in lines 1a–1f | $277,015 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,979,361 |
| Total Program Service Revenue | $1,288,612 |
| Investment income | $15,286 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,388 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,293,647 |
| 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. | $196,910 |
| Compensation of current officers, directors, key employees. | $41,276 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,575,365 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $462,964 |
| Payroll taxes | $288,661 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,625 |
| Advertising and promotion | $11,079 |
| Office expenses | $61,547 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,552 |
| Travel | $14,837 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $171,830 |
| Interest | $25,049 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $229,935 |
| Insurance | $32,717 |
| All other expenses | $232,372 |
| Total functional expenses | $6,275,928 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $480,607 |
| Savings and temporary cash investments | $419,738 |
| Pledges and grants receivable | $15,408 |
| Accounts receivable, net | $26,236 |
| 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 | $21,774 |
| Net Land, buildings, and equipment | $3,627,968 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $735,127 |
| Investments—program-related | $0 |
| Intangible assets | $2,495 |
| Other assets | $0 |
| Total assets | $5,332,192 |
| Accounts payable and accrued expenses | $230,412 |
| 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 | $61,148 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $291,560 |
| Net assets without donor restrictions | $4,007,048 |
| Net assets with donor restrictions | $1,033,584 |
| 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 | $5,332,192 |