Gaston Community Foundation
- Assets
- $124.6m
- Revenue
- $17.6m
- Investments
- $24.2m
- Employees
- 8
- Location
- Gastonia, NC
- Founding
- 05/1979
- Data as of
- 12/2021
- EIN
- 58-1340834
Organization Overview
Gaston Community Foundation is located in Gastonia, NC. The organization was established in 1979. 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, Gaston Community Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gaston Community 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, Gaston Community Foundation generated $17.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $7.2m during the year ending 12/2021. While expenses have increased by 2.9% 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, Gaston Community Foundation has awarded 894 individual grants totaling $33,192,604. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
GASTON COMMUNITY FOUNDATION IS THE PRIMARY STEWARD OF PHILANTHROPIC GIVING BY CONNECTING DONORS WITH COMMUNITY NEEDS TO ENHANCE THE LIVES OF PRESENT AND FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1978, GASTON COMMUNITY FOUNDATION HAS BEEN HELPING DONORS FULFILL THEIR PHILANTHROPIC DREAMS. INDIVIDUALS, FAMILIES, AND ORGANIZATIONS ESTABLISH FUNDS AT THE GASTON COMMUNITY FOUNDATION TO CARRY OUT THEIR CHARITABLE GIVING NOW AND IN THE FUTURE. WITH OVER 400 FUNDS UNDER MANAGEMENT, THE FOUNDATION ASSISTS DONORS WITH PLANNED GIVING OPTIONS FOR A CHARITABLE LEGACY, INCLUDING UNRESTRICTED FUNDS, FUNDS DESIGNATED FOR A SPECIFIC CHARITABLE ORGANIZATION OR FIELD OF INTEREST AS WELL AS MANY ADVISED FUNDS WHERE THE INDIVIDUAL OR CORPORATE DONOR CAN RECOMMEND GRANTS FOR A VARIETY OF COMMUNITY CAUSES.
GASTON COMMUNITY FOUNDATION MAKES UNRESTRICTED GRANTS TO ORGANIZATIONS AND PROGRAMS OPERATING IN GASTON COUNTY OR PRIMARILY FOR THE BENEFIT OF GASTON COUNTY CITIZENS THROUGH AN ANNUAL COMPETITIVE GRANT APPLICATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | Officer | 40 | $162,672 |
Gayle Kersh Development | OfficerTrustee | 1 | $0 |
John Mcgill Secretary/tr | OfficerTrustee | 1 | $0 |
Andy Warlick Investment D | OfficerTrustee | 1 | $0 |
Nancy Paschall Board Chair | OfficerTrustee | 1 | $0 |
David Rogers Board Vice C | OfficerTrustee | 1 | $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 | $14,753,979 |
| Noncash contributions included in lines 1a–1f | $5,505,203 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,753,979 |
| Total Program Service Revenue | $227,466 |
| Investment income | $2,306,582 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,176 |
| Net Gain/Loss on Asset Sales | $333,436 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,636,833 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,326,684 |
| 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. | $162,672 |
| Compensation of current officers, directors, key employees. | $70,768 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $265,803 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $69,051 |
| Payroll taxes | $32,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $122,234 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,025 |
| Office expenses | $17,100 |
| Information technology | $30,864 |
| Royalties | $0 |
| Occupancy | $53,000 |
| Travel | $502 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,280 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,956 |
| Insurance | $14,710 |
| All other expenses | $0 |
| Total functional expenses | $7,216,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,167,788 |
| Savings and temporary cash investments | $1,511,440 |
| Pledges and grants receivable | $3,795,862 |
| Accounts receivable, net | $2,909 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $23,392 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,313 |
| Net Land, buildings, and equipment | $2,798,312 |
| Investments—publicly traded securities | $88,667,546 |
| Investments—other securities | $24,150,197 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $466,831 |
| Total assets | $124,627,590 |
| Accounts payable and accrued expenses | $1,279,568 |
| Grants payable | $934,982 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $26,435,400 |
| 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 | $1,422,316 |
| Total liabilities | $30,072,266 |
| Net assets without donor restrictions | $66,272,389 |
| Net assets with donor restrictions | $28,282,935 |
| 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 | $124,627,590 |
Grants Awarded
Over the last fiscal year, Gaston Community Foundation has awarded $6,326,684 in support to 161 organizations.
| Grant Recipient | Amount |
|---|---|
OTHER UNDER 5000 PURPOSE: GENERAL SUPPORT | $465,167 |
Gastonia, NC PURPOSE: GENERAL SUPPORT | $408,488 |
Gastonia, NC PURPOSE: GENERAL SUPPORT | $324,025 |
FIRST UNITED METHODIST OF GASTONIA PURPOSE: GENERAL SUPPORT | $266,936 |
Gastonia, NC PURPOSE: GENERAL SUPPORT | $240,272 |
FIRST ARP CHRICH OF GASTONIA PURPOSE: GENERAL SUPPORT | $207,513 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Gaston Community Foundation has recieved totaling $1,346,153.
| Awarding Organization | Amount |
|---|---|
The@w Duke Kimbrell Family Foundation Gastonia, NC PURPOSE: EXEMPT CHARITABLE PURPOSE OF THE ORGANIZATION | $1,000,000 |
Ralph S Robinson Family Foundation Gastonia, NC PURPOSE: NEW BUILDING | $100,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $94,528 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $50,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $50,000 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $19,907 |
Endowment Analysis
| Beg. Balance | $32,080,605 |
| Earnings | $3,978,354 |
| Admin Expense | $279,781 |
| Net Contributions | $647,033 |
| Grants | $1,871,079 |
| Ending Balance | $34,555,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation Of Greenville Inc Greenville, SC | $110,749,055 | $32,278,412 |
Spartanburg County Foundation Spartanburg, SC | $213,613,348 | $29,550,562 |
North Georgia Community Foundation Gainesville, GA | $121,312,465 | $29,287,202 |
The Community Foundation Of Harrisonburg And Rockingham County Harrisonburg, VA | $68,152,988 | $23,085,179 |
Central Carolina Community Foundation Columbia, SC | $200,312,368 | $26,646,536 |
Community Foundation Of The Chattahoochee Valley Inc Columbus, GA | $203,858,921 | $35,593,899 |
High Point Community Foundation High Point, NC | $114,170,503 | $14,778,667 |
Community Foundation Of Central Georgia Inc Macon, GA | $156,226,670 | $20,534,365 |
Community Foundation For Northeast Georgia Inc Duluth, GA | $80,665,782 | $22,483,820 |
Community Foundation Of The Lowcountry Inc Hilton Head Island, SC | $73,666,667 | $27,497,262 |
The Community Foundation For Northern Virginia Inc Oakton, VA | $80,161,408 | $23,451,822 |
National Christian Charitable Foundation Inc Fort Mill, SC | $16,300,322 | $10,862,004 |