Crosland Foundation
- Assets
- $16.7m
- Revenue
- $2.0m
- Investments
- $1.3m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 10/2001
- Data as of
- 12/2022
- 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 12/2022, Crosland Foundation generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Crosland Foundation has awarded 51 individual grants totaling $2,683,548. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE ATTACHMENT 1
Describe the Organization's Program Activity:
SEE EXPLANATION FOR PART III, LINE 1
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
June G Rhyne Trustee | Trustee | 0.5 | $0 |
John Crosland III Trustee | Trustee | 0.5 | $0 |
James C Burbank Trustee | Trustee | 0.5 | $0 |
Mark W Mealy Trustee | Trustee | 0.5 | $3,000 |
William J Sullivan Trustee | Trustee | 0.5 | $2,250 |
Dr Hunter Dyer Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,967,410 |
| Noncash contributions included in lines 1a–1f | $1,349,811 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,967,410 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,958 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,964,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,135,198 |
| 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. | $6,750 |
| Compensation of current officers, directors, key employees. | $6,750 |
| 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 | $117,174 |
| Fees for services: Legal | $7,504 |
| Fees for services: Accounting | $26,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,010 |
| Fees for services: Other | $726 |
| 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 | $2,242 |
| All other expenses | $0 |
| Total functional expenses | $1,349,484 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,218 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,408,878 |
| Investments—other securities | $1,298,055 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,720,151 |
| Accounts payable and accrued expenses | $4,171 |
| 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 | $4,171 |
| Net assets without donor restrictions | $16,715,980 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,720,151 |
Grants Awarded
Over the last fiscal year, Crosland Foundation has awarded $1,135,198 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
YWCA OF THE CENTRAL CAROLINAS PURPOSE: SEE PART IV | $50,000 |
DAVIDSON COLLEGE PURPOSE: SEE PART IV | $113,520 |
PROTESTANT EPISCOPAL HIGH SCHOOL OF VA PURPOSE: SEE PART IV | $170,280 |
SALVATION ARMY - CHARLOTTE PURPOSE: SEE PART IV | $25,000 |
SUPPORTIVE HOUSING COMMUNITIES PURPOSE: SEE PART IV | $20,000 |
HABITAT FOR HUMANITY PURPOSE: SEE PART IV | $50,000 |