Mark A And Rena R Norcross Family Foundation
- Assets
- $57.9k
- Revenue
- $259.4k
- Investments
- $47.6k
- Employees
- 0
- Location
- High Point, NC
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 56-2191282
Organization Overview
Mark A And Rena R Norcross Family Foundation is located in High Point, NC. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mark A And Rena R Norcross Family Foundation 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 12/2021, Mark A And Rena R Norcross Family Foundation generated $259.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $327.9k during the year ending 12/2021. While expenses have increased by 5.0% per year over the past 7 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 2014, Mark A And Rena R Norcross Family Foundation has awarded 97 individual grants totaling $1,995,534. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark A Norcross Pres., Tres., & Chairman | 5 | $0 | |
Rena R Norcross Vice-Pres. & Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $257,242 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,400 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,228 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $259,414 |
| 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 | $557 |
| Total operating and administrative expenses | $557 |
| Contributions, gifts, grants paid | $327,351 |
| Total expenses and disbursements | $327,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,391 |
| 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 | $47,552 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $57,943 |
| 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, Mark A And Rena R Norcross Family Foundation has awarded $327,351 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
IHM CATHOLIC CHURCH PURPOSE: CHARITABLE CONTRIBUTION | $274,893 |
High Point, NC PURPOSE: CHARITABLE CONTRIBUTION | $25,000 |
OPEN DOOR MINISTRIES PURPOSE: CHARITABLE CONTRIBUTION | $13,833 |
ALEXANDER MARTIN CHAPTER PURPOSE: CHARTIABLE CONTRIBUTION | $4,500 |
Archdale, NC PURPOSE: CHARITABLE CONTRIBUTION | $4,500 |
Jamestown, NC PURPOSE: CHARITABLE CONTRIBUTION | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |