2040 Foundation Inc
90% goes to programs Strong reserves Declining revenue
2040 Foundation Inc is a 501(c)(3) organization based in Charlotte, North Carolina, registered in 2014, with $805,127 in FY2024 revenue. CharityIndex grades it C, and it directs about 90% of spending to programs.
1355 Greenwood Clfs Ste 400, Charlotte, NC, 28204 EIN 46-3891359 Since 2014
Revenue (FY2024)
$805K
▲ 104.9% vs prior year
Philanthropy median: $168K
Expenses (FY2024)
$14.7M
Net assets
$90.7M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating90% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For 2040 Foundation Inc: 90% to programs earns a A+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating74 mo reserves · -1725% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For 2040 Foundation Inc: 74 mo reserves · -1725% margin earns a F on this criterion. See the exact thresholds →
BGovernance25% of the rating4 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For 2040 Foundation Inc: 4 of 6 checks met earns a B on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For 2040 Foundation Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Accelerate america's clean energy future with conservative solutions.
Contact & location
- Address
- 1355 Greenwood Clfs Ste 400, Charlotte, NC, 28204
- City
- Charlotte
- State
- North Carolina
- Subcategory
- Private Foundations
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $165.6M (FY2014) to $805K (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $108KNet assets $90.7M
Operating margin
-1725.3%
Spent more than it raised in the latest fiscal year.
Total assets
$90.8M
Total liabilities
$108K
Net assets
$90.7M
Salaries & benefits
$0
0% of expenses
Board members
5
3 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $805,127▲105% | $14,695,873▼11.0% | $90,673,369▼9.0% | $90,780,888▼9.3% | 990 |
| 2023 | $392,925▲193% | $16,517,816▼4.4% | $99,650,744▼7.5% | $100,049,962▼7.2% | 990 |
| 2022 | -$421,090▼118% | $17,286,494▼17.6% | $107,682,942▼18.3% | $107,868,029▼18.3% | 990 |
| 2021 | $2,340,203▼82.5% | $20,966,936▼6.0% | $131,757,058▼10.0% | $132,102,350▼10.2% | 990 |
| 2020 | $13,339,292▲3468% | $22,299,480▲55.1% | $146,425,781▼4.8% | $147,048,612▼4.5% | 990 |
| 2019 | -$396,101▼107% | $14,375,568▲4.7% | $153,744,343▲7.3% | $154,056,662▲7.4% | 990 |
| 2018 | $5,370,855▲585% | $13,731,407▲12.3% | $143,295,275▼12.8% | $143,472,057▼12.7% | 990 |
| 2017 | $783,835▼91.1% | $12,231,863▼3.7% | $164,292,116▲4.0% | $164,364,006▲3.7% | 990 |
| 2016 | $8,818,559▲66.9% | $12,706,630▼26.5% | $157,949,073▼2.4% | $158,459,709▼2.1% | 990 |
| 2015 | $5,284,086▼96.8% | $17,277,505▲7046% | $161,902,130▼2.1% | $161,923,207▼2.4% | 990 |
| 2014 | $165,599,943 | $241,776 | $165,358,167 | $165,885,794 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Bert Davis | Board Member | 2 | — |
| Bill Clements | Board Member | 2 | — |
| Dana Ring | Board Member | 2 | — |
| Jay W Faison | President | 5 | — |
| Jeremy Harrell | Board Member | 2 | — |
| Mark T Bruinooge | Chief Financial Officer | 2 | — |
| Matthew Eby | Board Member | 2 | — |
| Rich Powell | Board Member | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Watermark Services LLC | Financial Advisory, Accounting and General | $1,444,840 |
| New Media Advisors | Marketing | $112,533 |
Grants received · $4.8M total
2 grants to 2040 Foundation Inc totaling $4.8M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| 2040 Foundation Inc | Support for clean energy innovation initiatives | 2019 | $3,725,000 |
| 2040 Foundation Inc | Support for clean energy innovation initiatives | 2018 | $1,100,000 |
Grants made · $12.8M in FY2024
11 grants totaling $12.8M in FY2024. All grants made by 2040 Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Support of community initiatives | $9,234,729 |
| Clearpath Inc | Support for clean energy innovation initiatives | $1,133,387 |
| American Flood Coalition Inc | Support of community initiatives | $861,111 |
| Donor Advised Charitable Giving | Support of community initiatives | $650,000 |
| Carolina Immigration Law | Provides immigration legal services to persons who are otherwise financially incapable of obtaining such services. | $300,000 |
| American Conservation Coalition Inc | Promote methane awareness and education | $245,000 |
| 1st Street Foundation | To make climate risk accessible, easy to understand and actionable for individuals, governments, and industry. | $200,000 |
| National Christian Charitable Foundation | Support faith based initiatives | $120,000 |
| Foundation For the Carolinas | Mccoll park | $25,000 |
| Joseph Rainey Center For Public Policy Incorporated | Public policy research and leadership development community by and for women, minorities, and mavericks | $10,000 |
| Dilworth Center For Chemical Dependency Inc | Provides effective and affordable treatment services for individuals and families affected by alcoholism and drug addiction | $5,000 |
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Frequently asked questions
- Is 2040 Foundation Inc a legitimate nonprofit?
- Yes. 2040 Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 46-3891359, based in Charlotte, North Carolina. Donations are tax-deductible.
- What is 2040 Foundation Inc's EIN?
- 2040 Foundation Inc's Employer Identification Number (EIN) is 46-3891359.
- How much revenue does 2040 Foundation Inc report?
- 2040 Foundation Inc reported $805,127 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of 2040 Foundation Inc's spending goes to programs?
- 2040 Foundation Inc spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does 2040 Foundation Inc have?
- CharityIndex grades 2040 Foundation Inc C, based on program efficiency and fundraising cost.
- How much does 2040 Foundation Inc's highest-paid employee make?
- The highest reported compensation on 2040 Foundation Inc's latest Form 990 is $0, paid to Bert Davis (Board Member).
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Data for 2040 Foundation Inc (EIN 46-3891359) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.