Kanuga Endowment Inc
- Assets
- $0.0
- Revenue
- $539.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Hendersonville, NC
- Founding
- 04/1992
- Data as of
- 12/2020
- EIN
- 58-1976605
Organization Overview
Kanuga Endowment Inc is located in Hendersonville, NC. The organization was established in 1992. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Kanuga Endowment 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 12/2020, Kanuga Endowment Inc generated $539.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $5.1m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR KANUGA CONFERENCES, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOLICITING, MANAGING, AND INVESTING CONTRIBUTIONS TO KANUGA TO PROVIDE FOR THE FINANCIAL STABILITY AND SECURITY OF KANUGA CONFERENCES, INC. HELPED FUND PROGRAMS FOR KANUGA CONFERENCES IN 2020 IN THE AMOUNT OF $372,000. CONTRIBUTED FUNDS SUPPORTED THE FOLLOWING:OUTREACH EFFORTS, YOUTH PROGRAMS, LIBRARY UPKEEP, GUEST PERIOD CHAPLAINS, MAINTAINANCE OF KANUGA FACILITIES AND GROUNDS, PROGRAM SCHOLARSHIPS AND THE ONGOING DEVELOPMENT OF KANUGACONFERENCES.BOARD RESTRICTED ENDOWMENT CONTRIBUTIONS IN THE AMOUNT OF $4,685,123 WERE RELEASED FROM RESTRICTION FOR DEBT SERVICE FOR PROPERTY IMPROVEMENTS. APPROVED 2020 SUPPORT OF KANUGA CONFERENCES, INC.OPERATIONSPROGRAM:ADULT PROGRAMS 98,370YOUTH PROGRAMS 55,900CAMP KANUGA 12,240CAMP BOB 32,080ACTIVITIES 1,460PROPERTY 130,420DEBT SERVICE FOR PROPERTY IMPROVEMENTS 4,685,123BOARD OF DIRECTORS 8,550SCHOLARSHIPS 15,430ADVANCEMENT 13,550OUTREACH 4,000TOTAL USE OF FUNDS: 5,057,123
SOLICITING, MANAGING, AND INVESTING CONTRIBUTIONS TO KANUGA TO PROVIDE FOR THE FINANCIAL STABILITY AND SECURITY OF KANUGA CONFERENCES, INC. HELPED FUND PROGRAMS FOR KANUGA CONFERENCES IN 2020 IN THE AMOUNT OF $372,000. CONTRIBUTED FUNDS SUPPORTED THE FOLLOWING:OUTREACH EFFORTS, YOUTH PROGRAMS, LIBRARY UPKEEP, GUEST PERIOD CHAPLAINS, MAINTAINANCE OF KANUGA FACILITIES AND GROUNDS, PROGRAM SCHOLARSHIPS AND THE ONGOING DEVELOPMENT OF KANUGACONFERENCES.BOARD RESTRICTED ENDOWMENT CONTRIBUTIONS IN THE AMOUNT OF $4,685,123 WERE RELEASED FROM RESTRICTION FOR DEBT SERVICE FOR PROPERTY IMPROVEMENTS. APPROVED 2020 SUPPORT OF KANUGA CONFERENCES, INC.OPERATIONSPROGRAM:ADULT PROGRAMS 98,370YOUTH PROGRAMS 55,900CAMP KANUGA 12,240CAMP BOB 32,080ACTIVITIES 1,460PROPERTY 130,420DEBT SERVICE FOR PROPERTY IMPROVEMENTS 4,685,123BOARD OF DIRECTORS 8,550SCHOLARSHIPS 15,430ADVANCEMENT 13,550OUTREACH 4,000TOTAL USE OF FUNDS: 5,057,123DURING DECEMBER OF 2020 THE ORGANIZATION MERGED WITH KANUGA CONFERENCES, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Engram Chairman | OfficerTrustee | 1 | $0 |
Michael Sullivan President | OfficerTrustee | 1 | $0 |
William Coker Vice-Chairman | OfficerTrustee | 1 | $0 |
Derek Stapleton Secretary/treasurer (jan - Aug) | Officer | 1 | $0 |
Miriam Walsh Secretary/treasurer (sep - Dec) | Officer | 1 | $0 |
Hodge Alves Director | Trustee | 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 | $11,053 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,053 |
| Total Program Service Revenue | $0 |
| Investment income | $164,364 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $363,987 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $539,404 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,057,123 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,413 |
| 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 | $3,042 |
| All other expenses | $0 |
| Total functional expenses | $5,090,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kanuga Endowment Inc has recieved totaling $26,700.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 4 GRANT(S) FOR VARYING PURPOSES | $21,500 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: HUMAN SERVICES | $5,200 |
Endowment Analysis
| Beg. Balance | $3,448,320 |
| Earnings | $272,083 |
| Admin Expense | $16,042 |
| Net Contributions | $153 |
| Other Expense | $3,704,514 |
| Ending Balance | $3,704,514 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Durham Realty Inc Durham, NC | $66,578,409 | $21,835,955 |
Healthcare Georgia Foundation Inc Atlanta, GA | $145,422,542 | $18,331,596 |
Kanuga Endowment Inc Hendersonville, NC | $0 | $539,404 |
United Jewish Charities Of Greater Charlotte Inc Charlotte, NC | $8,151,447 | $4,750,352 |
Rally Foundation Inc Atlanta, GA | $9,445,133 | $7,328,050 |
Adira Foundation Richmond, VA | $46,085 | $190,912 |
Educational Facilities Corporationfor Lexington School District No 2 West Columbia, SC | $17,713,387 | $2,158,056 |
American Institute Of Certified Public Accountants Foundation Durham, NC | $13,346,405 | $1,363,179 |
New Vision Research Mt Pleasant, SC | $135,395 | $1,251,782 |
The Beirne Carter Foundation Richmond, VA | $25,189,504 | $3,003,577 |
The Triad Health Project Greensboro, NC | $661,078 | $1,457,249 |
Blowing Rock Charity Horse Show Foundation Inc Blowing Rock, NC | $3,907,755 | $1,476,671 |