Foundation For The Carolinas

Organization Overview

Foundation For The Carolinas is located in Charlotte, NC. The organization was established in 1962. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Foundation For The Carolinas employed 166 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Carolinas 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, Foundation For The Carolinas generated $770.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $584.9m during the year ending 12/2021. While expenses have increased by 10.1% 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 2016, Foundation For The Carolinas has awarded 7,405 individual grants totaling $1,887,971,845. 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

FOUNDATION FOR THE CAROLINAS IS A NON-PROFIT COMMUNITY FOUNDATION SERVING DONORS AND A BROAD RANGE OF CHARITABLE PURPOSES IN NORTH AND SOUTH CAROLINA THROUGH GRANTMAKING AND CIVIC LEADERSHIP.

Describe the Organization's Program Activity:

HEALTH AND HUMAN SERVICES: DISBURSED 4,194 GRANTS TO VARIOUS ORGANIZATIONS OFFERING SERVICES FOR SENIORS, YOUTH DEVELOPMENT, HOUSING AND SHELTER, AND OTHER COMMUNITY NEEDS.


EDUCATION AND YOUTH DEVELOPMENT: DISBURSED 4,338 GRANTS TO VARIOUS ORGANIZATIONS FOR SCHOLARSHIP PROGRAMS, EDUCATIONAL INSTITUTIONS, AND OTHER CURRICULUM PROGRAMS.


ENVIRONMENT AND WILDLIFE: DISBURSED 693 GRANTS TO VARIOUS ORGANIZATIONS TO SUPPORT ENVIRONMENTAL EFFORTS OF CONSERVATION, EDUCATION, AND OTHER PROJECTS.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Marsicano
President & CEO
$765,136
Holly K Welch
Executive Vice President
$426,274
Laura Smith
Executive Vice President
$413,043
Nikhil Sawant
Evp And Cio
$391,644
David B Collier
Executive Vice President
$354,299
Debra S Watt
Evp & Chro
$298,490

Outside Vendors & Contractors

Vendor Name (Service)Compensation
James L Kiser
Legal
$268,410
Kpmg Llp
Accounting
$1,609,568
Capital Access Strategies Llc
Financial Services
$371,000
Optomi Llc
Professional Services
$197,019
Jill Van Beke
Consulting Services
$241,949
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$4,000
Related organizations$49,047,594
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$621,960,150
Noncash contributions included in lines 1a–1f $468,995,730
Total Revenue from Contributions, Gifts, Grants & Similar$671,011,744
Total Program Service Revenue$30,750,217
Investment income $5,668,344
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $21,716
Net Gain/Loss on Asset Sales $62,853,938
Net Income from Fundraising Events -$9,431
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $770,296,528

Grants Awarded

Over the last fiscal year, Foundation For The Carolinas has awarded $400,463,161 in support to 1,598 organizations.

Grant RecipientAmount

SOUTHERN ENVIRONMENTAL LAW CENTER

Org PageRecipient Profile

Charlottesville, VA

PURPOSE: CHARITABLE GIFT

$42,564,300

Salisbury, NC

PURPOSE: CHARITABLE GIFT

$40,669,581

ATRIUM HEALTH FOUNDATION

Org PageRecipient Profile

Charlotte, NC

PURPOSE: CHARITABLE GIFT

$15,684,406

ROCKY MOUNTAIN INSTITUTE

Org PageRecipient Profile

Boulder, CO

PURPOSE: CHARITABLE GIFT

$14,101,000

EARTHJUSTICE LEGAL DEFENSE FUND

Org PageRecipient Profile

San Francisco, CA

PURPOSE: CHARITABLE GIFT

$14,066,750

QUEENS UNIVERSITY OF CHARLOTTE

Org PageRecipient Profile

Charlotte, NC

PURPOSE: CHARITABLE GIFT

$9,955,709
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Foundation For The Carolinas has recieved totaling $29,000.

Awarding OrganizationAmount
Wilson Memorial Scholarship Fund

Dallas, TX

PURPOSE: UNRESTRICTED GENERAL

$29,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$656,677,553
Earnings$95,116,123
Admin Expense$5,935,057
Net Contributions$218,348,764
Grants$26,535,077
Ending Balance$937,672,306

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