Foundation For the Carolinas
99% goes to programs $0 to raise $100 Strong reserves
Foundation For the Carolinas is a 501(c)(3) organization based in Charlotte, North Carolina, registered in 1962, with $761,389,623 in FY2024 revenue. CharityIndex grades it B+, and it directs about 99% of spending to programs.
220 N Tryon St, Charlotte, NC, 28202 EIN 56-6047886 Since 1962
Revenue (FY2024)
$761.4M
▲ 41.5% vs prior year
Philanthropy median: $168K
Expenses (FY2024)
$849.2M
Net assets
$3.8B
Employees
141
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
★★★★
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 rating99% to programs · $0 to raise $100
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 Foundation For the Carolinas: 99% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
C+Financial health25% of the rating54 mo reserves · -12% 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 Foundation For the Carolinas: 54 mo reserves · -12% margin earns a C+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 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 Foundation For the Carolinas: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Foundation For the Carolinas: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Foundation for the carolinas is a non-profit community foundation serving donors and a broad range of charitable purposes in north and south carolina through grantmaking and civic leadership.
What they do
Environment and wildlife: disbursed 678 grants to various organizations to support environmental efforts of conservation, education, and other projects.
Health and human services: disbursed 4,576 grants to various organizations offering services for seniors, youth development, housing and shelter, and other community needs.
Animal welfare: disbursed 302 grants to various organizations to support animal care, shelter, and spay and neuter programs.
Contact & location
- Address
- 220 N Tryon St, Charlotte, NC, 28202
- City
- Charlotte
- State
- North Carolina
- Subcategory
- Public Foundations
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $382.5M (FY2015) to $761.4M (FY2024) across 10 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $86.7MNet assets $3.8B
Operating margin
-11.5%
Spent more than it raised in the latest fiscal year.
Total assets
$3.9B
Total liabilities
$86.7M
Net assets
$3.8B
Salaries & benefits
$15.5M
2% of expenses
Board members
19
19 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $761,389,623▲41.5% | $849,185,395▲45.8% | $3,847,582,206▲13.2% | $3,934,238,899▲12.6% | 990 |
| 2023 | $538,046,453▼43.6% | $582,472,149▲40.6% | $3,400,205,332▲13.7% | $3,492,760,144▲14.0% | 990 |
| 2022 | $953,517,849▲23.8% | $414,316,706▼29.2% | $2,989,232,991▲5.8% | $3,064,138,829▲5.3% | 990 |
| 2021 | $770,296,528▲40.4% | $584,919,704▲19.4% | $2,824,793,558▲21.4% | $2,909,768,326▲21.4% | 990 |
| 2020 | $548,689,880▲89.4% | $489,891,267▲39.3% | $2,327,236,179▲14.4% | $2,397,054,281▲14.5% | 990 |
| 2019 | $289,696,942▼35.6% | $351,759,763▲8.1% | $2,034,110,093▲15.2% | $2,093,030,625▲14.5% | 990 |
| 2018 | $449,681,155▼32.1% | $325,310,194▼25.3% | $1,766,055,193▼3.4% | $1,828,291,645▼4.1% | 990 |
| 2017 | $662,474,205▲48.7% | $435,449,740▲33.3% | $1,828,864,337▲26.8% | $1,905,766,210▲25.7% | 990 |
| 2016 | $445,365,812▲16.4% | $326,772,081▲9.7% | $1,441,811,190▲15.4% | $1,516,178,328▲17.6% | 990 |
| 2015 | $382,454,798 | $297,876,975 | $1,249,303,913 | $1,289,000,447 | 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)
Highest-paid: Cathy Bessant — $571,104 (0.07% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Cathy Bessant | Ceo | 50 | $571,104 |
| Laura Smith | Former Coo | 50 | $436,231 |
| Blair Stanford | Celc Executive Director | 50 | $267,230 |
| Douglas W Benson | Chief Administrative and Chief Risk Officer (secre | 50 | $258,355 |
| Nikhil Sawant | Cio (thru 3/1/24) | 50 | $245,614 |
| Laura Yates Clark | President | 50 | $234,479 |
| Alyssa Federico | Chief Financial Officer (treasurer) | 50 | $228,615 |
| Federico G Rios | Svp, Civic Leadership | 50 | $216,270 |
| Evan N Wolkofsky | General Counsel (asst Secretary) | 50 | $213,325 |
| Elizabeth Kiser | Chief Philanthropy Officer | 50 | $202,221 |
| Munro C Richardson | Read Charlotte Executive Director | 50 | $199,175 |
| Sherri S Chisholm | Loo Executive Director | 50 | $195,493 |
| Tara Keener | Chief Marketing Officer (asst Secretary) | 50 | $171,869 |
| Sean Seifert | Carolina Theatre Executive | 50 | $150,154 |
| Robin Barefoot | Associate Counsel | 50 | $139,084 |
| Arrington Mixon | Chair | 0.5 | — |
| Asha Rodriguez | Director | 0.5 | — |
| Betsy Fleming | Director | 0.5 | — |
| Bill Martin | Director | 0.5 | — |
| Edward Serna | Director | 0.5 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| James Cohan Gallery | Art Installment | $265,000 |
| Mcguirewoods LLP | Legal Services | $217,997 |
| Cherry Bekaert LLP | Audit & Tax Services | $157,650 |
| Adams Outdoor Advertising | Advertising | $143,535 |
| Loyd Visuals | Consulting | $101,200 |
Grants received · $332.6M total
201 grants to Foundation For the Carolinas totaling $332.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Community Investments Foundation | Grantmaking | 2024 | $17,997,255 |
| Winston-salem Foundation | 10 grant(s) for varying purposes | 2024 | $647,333 |
| American Online Giving Foundation Inc | General support | 2024 | $511,881 |
| Presbyterian Hospital | Community outreach | 2024 | $503,571 |
| Neo Philanthropy Inc | Program grant | 2024 | $300,000 |
| National Football League Foundation | General support | 2024 | $297,000 |
| Educational Credit Management Corporation | Fafsa student support | 2024 | $110,000 |
| Ayco Charitable Foundation | Community & human services | 2024 | $105,500 |
| Crosland Foundation | See part iv | 2024 | $95,158 |
| The Rotary Foundation of Rotary International | Econ. and community develop.-humanitarian-daf | 2024 | $45,000 |
| Novant Health Inc | Community outreach | 2024 | $30,000 |
| National Christian Charitable Foundation | Giving and generosity | 2024 | $26,250 |
| 2040 Foundation Inc | Mccoll park | 2024 | $25,000 |
| The Community Foundation For Greater Atlanta Inc | Philanthropy/voluntarism | 2024 | $25,000 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $7,500 |
Grants made · $609.1M in FY2024
1,605 grants totaling $609.1M in FY2024 — showing the 15 largest. All grants made by Foundation For the Carolinas →
| Recipient | Purpose | Amount |
|---|---|---|
| Catawba College | Charitable gift | $56,557,611 |
| Southern Environmental Law Center | Charitable gift | $26,472,000 |
| International Rescue Committee Inc | Charitable gift | $24,000,000 |
| League of Conservation Voters Education Fund | Charitable gift | $20,000,000 |
| Duke University Health System Inc | Charitable gift | $17,000,000 |
| Nova Ukraine | Charitable gift | $16,000,000 |
| Planned Parenthood South Atlantic | Charitable gift | $14,095,000 |
| Duke University | Charitable gift | $13,005,000 |
| Rocky Mountain Institute | Charitable gift | $12,250,000 |
| Johnson C Smith University Incorporated | Charitable gift | $11,831,270 |
| Southern Appalachian Highlands Conservancy | Charitable gift | $11,330,515 |
| Planned Parenthood Federation of | Charitable gift | $11,075,000 |
| Warren Wilson College | Charitable gift | $10,210,000 |
| Save the Children Federation Inc | Charitable gift | $10,000,000 |
| Livingstone College | Charitable gift | $8,500,000 |
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Compare Foundation For the Carolinas
Frequently asked questions
- Is Foundation For the Carolinas a legitimate nonprofit?
- Yes. Foundation For the Carolinas is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 56-6047886, based in Charlotte, North Carolina. Donations are tax-deductible.
- What is Foundation For the Carolinas's EIN?
- Foundation For the Carolinas's Employer Identification Number (EIN) is 56-6047886.
- How much revenue does Foundation For the Carolinas report?
- Foundation For the Carolinas reported $761,389,623 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Foundation For the Carolinas's spending goes to programs?
- Foundation For the Carolinas spends about 99% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Foundation For the Carolinas have?
- CharityIndex grades Foundation For the Carolinas B+, based on program efficiency and fundraising cost.
- How much does Foundation For the Carolinas's highest-paid employee make?
- The highest reported compensation on Foundation For the Carolinas's latest Form 990 is $571,104, paid to Cathy Bessant (Ceo).
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Explore more
Data for Foundation For the Carolinas (EIN 56-6047886) 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.