Crosland Foundation
- Assets
- $17.5m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 10/2001
- Data as of
- 12/2020
- EIN
- 56-6557259
Organization Overview
Crosland Foundation is located in Charlotte, NC. The organization was established in 2001. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, 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. Crosland 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 12/2020, Crosland Foundation generated $10.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.3% each year . All expenses for the organization totaled $746.8k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Crosland Foundation has awarded 30 individual grants totaling $1,548,350. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE ATTACHMENT 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE EXPLANATION FOR PART III, LINE 1
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William J Sullivan Trustee | Trustee | 0.5 | $3,750 |
Courtauld Young Trustee | Trustee | 0.5 | $3,750 |
Robert E Mason IV Trustee | Trustee | 0.5 | $2,250 |
Mark W Mealy Trustee | Trustee | 0.5 | $2,250 |
June G Rhyne Trustee | Trustee | 0.5 | $0 |
John Crosland III Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,131,868 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,131,868 |
| Statement of Expenses | |
|---|---|
| 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. | $24,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $135,150 |
| Fees for services: Legal | $28,728 |
| Fees for services: Accounting | $21,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,893 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $860 |
| All other expenses | $0 |
| Total functional expenses | $746,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,952 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $17,473,619 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,493,571 |
| Accounts payable and accrued expenses | $5,175 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,175 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $17,488,396 |
Grants Awarded
Over the last fiscal year, Crosland Foundation has awarded $1,039,304 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
Charlotte, NC PURPOSE: SEE PART IV | $250,000 |
Alexandria, VA PURPOSE: SEE PART IV | $157,396 |
Charlotte, NC PURPOSE: SEE PART IV | $129,930 |
Davidson, NC PURPOSE: SEE PART IV | $104,930 |
Charlotte, NC PURPOSE: SEE PART IV | $52,048 |
Charlotte, NC PURPOSE: SEE PART IV | $50,000 |
Endowment Analysis
| Beg. Balance | $17,488,396 |
| Earnings | $2,261,980 |
| Net Contributions | $400,294 |
| Other Expense | $226,403 |
| Grants | $1,049,304 |
| Ending Balance | $18,919,963 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Arthur M Blank Family Foundation Atlanta, GA | $365,187,486 | $84,889,977 |
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Darla Moore And Richard Rainwater Foundation Lake City, SC | $538,432,800 | $34,322,461 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |