Cumberland Community Foundation Inc
- Assets
- $108.1m
- Revenue
- $14.8m
- Investments
- $13.1m
- Employees
- 8
- Location
- Fayetteville, NC
- Founding
- 09/1980
- Data as of
- 06/2022
- EIN
- 58-1406831
Organization Overview
Cumberland Community Foundation Inc is located in Fayetteville, NC. The organization was established in 1980. 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 06/2022, Cumberland Community Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland Community Foundation Inc 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 06/2022, Cumberland Community Foundation Inc generated $14.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $6.6m during the year ending 06/2022. While expenses have increased by 5.7% 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 2021, Cumberland Community Foundation Inc has awarded 226 individual grants totaling $10,302,354. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FACILITATE, ENCOURAGE, AND GROW PHILANTHROPY FOR DIVERSE CAUSES TO IMPROVE THE QUALITY OF LIFE FOR ALL IN CUMBERLAND COUNTY, NC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CUMBERLAND COMMUNITY FOUNDATION (CCF) FACILITATES AND ENCOURAGES PHILANTHROPY IN CUMBERLAND COUNTY, NORTH CAROLINA THROUGH GRANT MAKING, SCHOLARSHIPS, ENDOWMENT BUILDING FOR DIVERSE CAUSES, COMMUNITY LEADERSHIP, AND NONPROFIT TRAINING. DURING FISCAL YEAR 2021-2022, CCF MADE SCHOLARSHIPS AND GRANTS TOTALING $5,504,082 TO SUPPORT STUDENTS AND PROGRAMS IN EDUCATION, HUMAN SERVICES, YOUTH, HEALTH, ENVIRONMENT, HISTORICAL PRESERVATION, ARTS AND CULTURE, ECONOMIC EMPOWERMENT, AND OTHER TYPES OF CHARITABLE PROGRAMS. CCF PROVIDES COMMUNITY LEADERSHIP THROUGH TRAINING AND TECHNICAL ASSISTANCE FOR LOCAL NONPROFIT ORGANIZATIONS, FUNDRAISING CAMPAIGNS FOR DIVERSE ORGANIZATIONS, CONVENINGS TO BUILD COLLABORATION AND IMPACT, DONOR EDUCATION EVENTS, AND SERVICE ON COMMUNITYWIDE PROJECTS THAT IMPROVE THE QUALITY OF LIFE IN MANY AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Holmes President/ceo | Officer | 40 | $171,392 |
Mary Anne Brooks Chief Financial Officer | 40 | $104,763 | |
Gail A Riddle Vice-Chair | OfficerTrustee | 3 | $0 |
Bruce Dantzler Board Chair | OfficerTrustee | 3 | $0 |
Frank R Lopes Jr Treasurer | OfficerTrustee | 3 | $0 |
Carol L Dickey Secretary | OfficerTrustee | 3 | $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 | $7,367,477 |
| Noncash contributions included in lines 1a–1f | $1,121,579 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,367,477 |
| Total Program Service Revenue | $0 |
| Investment income | $7,228,833 |
| 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 | $14,799,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,164,275 |
| Grants and other assistance to domestic individuals. | $339,807 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $538,870 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $78,194 |
| Payroll taxes | $39,728 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,500 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,042 |
| Advertising and promotion | $0 |
| Office expenses | $14,012 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $268,100 |
| Travel | $4,535 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,321 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,034 |
| Insurance | $16,139 |
| All other expenses | $161 |
| Total functional expenses | $6,635,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,770,793 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,449 |
| 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 | $173,510 |
| Investments—publicly traded securities | $93,117,065 |
| Investments—other securities | $13,070,784 |
| Investments—program-related | $4,500 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $108,138,101 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,917,366 |
| 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 | $7,051,172 |
| Total liabilities | $8,968,538 |
| Net assets without donor restrictions | $31,594,180 |
| Net assets with donor restrictions | $67,575,383 |
| 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 | $108,138,101 |
Grants Awarded
Over the last fiscal year, Cumberland Community Foundation Inc has awarded $5,059,339 in support to 116 organizations.
| Grant Recipient | Amount |
|---|---|
Asheville, NC PURPOSE: CHARITABLE GIFT | $375,120 |
Fayetteville, NC PURPOSE: CHARITABLE GIFT | $295,883 |
Fayetteville, NC PURPOSE: CHARITABLE GIFT | $232,352 |
Fayetteville, NC PURPOSE: CHARITABLE GIFT | $166,503 |
Fayetteville, NC PURPOSE: CHARITABLE GIFT | $151,625 |
Raleigh, NC PURPOSE: CHARITABLE GIFT | $150,700 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Cumberland Community Foundation Inc has recieved totaling $1,115,198.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $1,000,000 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $100,000 |
Special Forces Charitable Trust Southern Pines, NC PURPOSE: FAMILY ASSISTANCE | $10,000 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $4,370 |
Carolyn Riddle Armstrong Charitable Foundation Fayetteville, NC PURPOSE: TO SUPPORT CHARITABLE MISSION | $500 |
Riddle Family Foundation Fayetteville, NC PURPOSE: SUPPORT OPERATIONS OF ORGANIZATION | $300 |
Endowment Analysis
| Beg. Balance | $91,511,504 |
| Earnings | -$11,372,474 |
| Admin Expense | $689,405 |
| Net Contributions | $2,049,163 |
| Other Expense | $149,612 |
| Grants | $2,853,914 |
| Ending Balance | $78,495,262 |
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 |