2008 ANNUAL REPORT
2008 BOARD
Sitting (left to right): Le Erwin, Hugh Fletcher, Otto Woerner, John Ervin (President) , Jim Lowdermilk (Treasurer) and Susan Pollpeter Standing (left to right): Jim Rostan, Ben Succop (Vice-President), Doris Fullwood, Marc Mitchell (Secretary), Chip Black, Eddie Wall, Emily Williamson, Paul Deaton and Rountree Collett
MISSION STATEMENT To encourage, develop and participate in philanthropy by providing flexible giving opportunities, professional support and responsible stewardship for the benefit of donors and qualified recipients.
YEAR IN REVIEW
It is a privilege to report on the work of your Community Foundation in 2008. It is especially gratifying to recognize achievements, records and a few firsts for our eight year old community foundation. We are always excited to announce new endowments that are established to serve this community and our nonprofits in perpetuity. Please read the article on page 3 about the fund established in memory of Joel Hastings, a beloved member of this community and a longtime champion for Burke County children with special needs. Caroline and John Kos established our first-ever, entirely unrestricted endowment. It was established with the sole purpose of meeting the ever-changing needs of the Burke County community. Their love and dedication to Burke County inspired them to establish this fund that will change with the times and fund those needs that we cannot even anticipate today. We have sixty-two endowments. Each has a specific purpose, story and history. Take a few minutes to review our list of endowments which begins on page 6. They represent some of the best, brightest and kindest of this county. Our Community Grants have increased with every year. We began our Community Grants Cycle in 2002 with grants totaling $15,000. In 2008, we awarded Community Grants of almost $74,000 – a 67% increase from the prior year. Please read the Community Grants article on page 2 about the outstanding programs that we were able to fund during a challenging economic year. We are genuinely thankful for the excellent work of our local nonprofit heroes.
John W. Ervin, Jr. & Caroline M. Avery
Our total grants awarded from endowments, donor advised funds and community grants in 2008 were $664,000 – this is an increase of 75% from 2007. Since inception (2000), your Community Foundation has awarded over $2,000,000 to more than 100 local organizations that seek to improve the quality of life for all who live in Burke County. All of this growth and serious work would not happen without a dedicated group of leaders. Please take a minute to review our Board of Directors and join us in extending our genuine gratitude to them for their selfless service and love for Burke County. Of course, our success would not be possible without you – our beloved neighbors, friends and fellow citizens. We thank you for joining us in our quest to make this place that we call home a community of excellence for all who choose to live here.
John W. Ervin, Jr. President
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Caroline M. Avery Executive Director
COMMUNITY GRANTS
The Community Foundation’s seventh Community Grants Cycle awarded $74,000 to fourteen nonprofit organizations providing excellent services in the Burke County area.
Compassionate Hearts of Oak Ridge Baptist Church was awarded $1,500 for malpractice insurance for their newly established medical clinic serving eastern Burke County.
Community Foundation’s Board of Directors allocated $30,000 of unrestricted funds to be used for the most effective projects addressing current needs in Burke County. Additional community grants were made from the Avery-Causby Endowment, Camp Lake James Endowment, Community Fund, Patton Cornwell Endowment, Richard Endowment, Rostan Endowment and Taylor Endowment.
Foothills Conservancy of North Carolina was granted $5,000 for conservation and recreation projects in Burke County.
Chaired by Dr. Paul Deaton, the Grants Committee diligently researched existing needs in Burke County and programs that are meeting those needs. Detailed applications were reviewed and site visits were conducted by Grants Committee members Paul Deaton, Doris Fullwood, John McElrath, Marc Mitchell, Jean VanNoppen and Eddie Wall.
Foothills Service Project received $8,000 for the purchase of a box truck to use with their thrift stores. Frankie Foundation was awarded $1,000 for the production of “The Legend of Frankie Silver”. Good Samaritan Clinic was granted $5,000 for their medication assistance fund. Habitat for Humanity of Burke County was awarded $8,000 for the purchase of a truck to be used for the Habitat Restore.
The Board of Directors approved grants to the following organizations and projects: American Red Cross received $3,200 to outfit an emergency response vehicle. Angel Food Ministry of Valdese First United Methodist Church was awarded $5,000 to purchase food products. Appalachian Family Innovations received $5,000 to support their home visitation program that transforms high risk, first time parents by teaching and reinforcing healthy parenting skills. Big Brothers Big Sisters was granted $4,152 to start a mentoring program for deaf children. Strategic Alliance for Burke Youth received $10,000 to be used on a collaborative effort to research the establishment of a central force for coordinating, monitoring and advocating on behalf of all children in Burke County.
Habitat Restore truck
The Meeting Place One received $7,500 for a life skills project to make residents (homeless men) more hirable and better able to retain jobs. New Day Christian Church was granted $6,000 to support their cooking and basketball camps, which help teach children important life skills. Repay received $4,400 for the production of a Drug Court educational video to be used in public presentations for fundraising and public awareness. “These organizations are meeting many critical needs for our community,” stated Community Foundation President John Ervin. “The Foundation is proud to help them improve the quality of life for all people in Burke County.”
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A TRIBUTE TO JOEL HASTINGS
by David Burleson and Susan Pollpeter A famous quote states that success belongs to one who lives well, laughs often, loves much, gains the respect of children, leaves the world better than he found it, appreciates the earth’s beauty, looks for the best in others, and gives his utmost to each task. By this standard, Joel Hastings achieved success! As a master teacher, Joel taught numerous children and his legacy continues today. First of all, Joel’s life motivates us to be dedicated. He was committed to education and giving his best to the students and teachers he served. He loved the Burke County Public Schools (BCPS) and each person who was part of that community. Joel was tireless in his efforts to make BCPS the ultimate experience for every child. He approached all tasks with a servant’s heart and would do “whatever it took” to help a student in need. Joel was a mentor, a listener, a supporter, and a friend to any child with special needs – he spoke to all Joel Hastings with son Adam students and acknowledged their worth. In each of his roles as a father, son, brother, teacher, supervisor, friend and encourager, Joel was a hero. Second, by example, Joel Hastings taught us to be loving to others. Joel enjoyed people as was evidenced by the constant smile on his face and twinkle in his eye. Never too busy to talk with anyone, he valued every student regardless of ability or background. Also, Joel loved life. He enjoyed the beauty of nature, adventure and time spent with family and friends. In recreational activities, Joel liked the challenge of competition. He never missed any of his children’s academic, athletic or church events.
Even after being named one of the six distinguished educators of exceptional children in North Carolina, Joel never reported this accomplishment to his colleagues, family or friends. (The representative from the North Carolina Department of Public Instruction Exceptional Children’s Division telephoned us of the news. Joel just smiled when asked why he hadn’t told anyone.) Fourth, another lesson from Joel’s life is the power of conviction. He had uncompromising beliefs and understood that each of us has a responsibility to shape the future. From his conviction to help others in need, he began the food ministry at First Baptist Church of Drexel. Joel knew that every child was important and must be treated that way. He believed that all children could learn and achieve success. Any person who knew Joel respected him and admired his conviction to leadership, integrity, faith in Christ, family and an optimal education for every boy and girl. Through the Community Foundation of Burke County, the lessons Joel Hastings taught by achieving true success will continue to influence the lives of others. Friends, family members and Joel’s “school family” established the Joel Hastings Endowment to provide financial assistance for enrichment opportunities for Burke County children with special needs. The endowment established to honor his memory will ensure that his legacy of service to others lives on!
Third, Joel’s life taught us to be caring. He valued all people and demonstrated this through his high moral standards. Students, parents and community members knew he could be trusted and respected his ideals. Joel also revealed that a caring spirit is humble. Superintendent David Burleson and Joel Hastings
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GRANTS IN ACTION
AIDS Project Los Angeles, Inc. Alexander Senior Center ALFA Alzheimer’s Association Western North Carolina Chapter American Bible Society American Cancer Society American Red Cross Anderson University, Inc. Appalachian Family Innovations Asheville School, Inc. Barium Springs Home for Children Bernhardt Shoe Fund for Children Big Brothers Big Sisters - Morganton Blue Ridge Community Action, Inc. Blue Ridge Healthcare Foundation, Inc. Boy Scouts of America, Piedmont Council Inc. Burke Arts Council Burke Charitable Properties, Inc. Burke Council on Alcoholism & Chemical Dependency Burke County Friends for Animals Burke County Historical Society Burke County Literacy Council Burke County United Way Burke Hospice and Palliative Care, Inc. Burke United Christian Ministries Caldwell Academy Caldwell Hospice & Palliative Care, Inc. Christmas Cheer Chronic Disease Fund Church of God Ministries, Inc. City of Morganton Department of Public Safety Crossnore School, Inc. Davidson College Denton’s Chapel United Methodist Church Disabled American Veterans, Morganton Chapter 43 Drexel Alumni Association Drexel First Baptist Church Dulatown Presbyterian Church Exploring Joara Foundation, Inc. First Baptist Church – Morganton First Church of God of Drexel First Presbyterian Church – Morganton First Presbyterian Church of Baton Rouge First United Methodist Church First United Methodist Church of Valdese Flynn Christian Fellowship Home of Burke County, Inc. Foothills Conservancy of North Carolina Foothills Service Project Frankie Foundation Gaston Chapel African Methodist Episcopal Church General Board of Global Ministries Girl Scout Council of the Catawba Valley Area, Inc. Glen Alpine Elementary School Good Samaritan Clinic Grace Episcopal Church Grace Lifecare, Inc. d/b/a Grace Ridge Grandfather Home for Children Habitat for Humanity of Burke County, Inc. Historic Burke Foundation, Inc.
200.00 4,941.80 250.00 1,633.12 2,000.00 1,633.12 18,141.80 1,000.00 10,200.84 1,250.00 1,633.12 100.00 4,152.00 4,941.80 50,405.68 250.00 18,176.48 250.00 1,131.84 4,144.92 100.00 350.00 19,145.80 14,249.72 25,332.40 4,941.80 200.00 250.00 200.00 1,000.00 5,864.59 1,794.30 300.00 1,794.30 1,633.12 767.75 7,600.00 900.00 350.00 7,441.80 6,500.00 42,484.52 200.00 1,894.30 5,000.08 1,000.00 5,250.00 8,000.00 1,000.00 400.00 235.36 1,000.00 3,797.44 56,861.80 7,200.00 250.00 1,633.12 15,931.24 9,041.36
History Museum of Burke County 21,400.00 Hollins University 100.00 Homes for Hearts, Inc. 1,202.20 Intervarsity Christian Fellowship-USA 8,100.00 Library Foundation of Burke County, Inc. 32,884.52 Medical Benevolence Foundation 900.00 Medical Foundation of North Carolina, Inc. 400.00 Meeting Place One, Inc. 7,700.00 Mimosa Christian Counseling Center, Inc. 473.92 Morganton Day School 30,864.92 Morganton Woman’s Club Foundation, Inc. 4,941.80 Mountain View Cemetery Fund 3,604.88 National Society of the Colonial Dames of America in North Carolina 100.00 New Beginnings Maternity/Transitional Home for Women 100.00 New Day Christian Church 6,500.00 North Carolina Community Foundation, Inc. 200.00 North Carolina School for the Deaf Foundation, Inc. 588.24 North Green Street Presbyterian Church 200.00 Oak Ridge Baptist Church 1,500.00 Options, Inc. 650.00 Outreach Center 500.00 Point Foundation 200.00 Presbyterians for Renewal 500.00 Presbytery of Western North Carolina, Inc. 3,200.00 Project Angel Food 200.00 Repay, Inc. 4,400.00 Rock School Arts Foundation 4,827.96 Saint Charles Borromeo Catholic Church 250.00 Salvation Army 1,000.00 Samaritan’s Purse 5,000.00 Scholarships 35,080.00 SIM USA, Inc. 3,000.00 Shiloh African Methodist Episcopal Church 200.00 Slades Chapel African Methodist Episcopal Zion Church 200.00 Southmountain Children and Family Services 9,219.22 St. John’s African Methodist Episcopal Church 400.00 St. Jude Children’s Research Hospital 1,633.12 St. Mary’s School 200.00 St. Paul’s African Methodist Episcopal Church 200.00 St. Stephen’s Episcopal Church 200.00 Susan G. Komen Breast Cancer Foundation, Inc. 100.00 Thornwell Home for Children 300.00 Three Forks Baptist Church 4,941.80 Trinity Baptist Church 100.00 University of North Carolina Greensboro 1,794.30 University of North Carolina-TV 5,000.00 University of North Carolina Asheville 300.00 Valdese Elementary School 3,481.08 Victory Chapel Baptist Church 200.00 Waldensian Presbyterian Church of Valdese 14,787.20 Waldensian Presbyterian Women 1,000.00 Warner Southern College 1,000.00 Western Piedmont Community College 200.00 Western Piedmont Foundation, Inc. 1,919.30 Wild for Life Rehabilitation Center 100.00 Willow Tree African Methodist Episcopal Church 300.00 World Vision, Inc. 2,500.00 Total $619,175.78
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ENDOWMENT FUNDS Please consider making a donation to one of these endowments. Avery-Causby Fund supports projects and organizations that improve the quality of life and meet the ever-changing needs of the Burke County community. It also supports First United Methodist Church, Crossnore School, Western Piedmont Foundation, Denton’s Chapel United Methodist Church, University of North Carolina at Greensboro and Southmountain Children and Family Services. Blue Ridge Community Action Fund supports programs that foster the development of economically depressed families and develops the human resources, which carry out community action programs. Bowers-Greene Fund has broad charitable purposes. Burke Arts Council Fund supports programs and projects of the Burke Arts Council in Burke County, North Carolina.
consultation with the patient’s physician or with a community agency. Caldwell Arts Council Fund established by William White, Jr. supports the cultural arts in Caldwell County by encouraging participation in a variety of arts events, promoting the arts, by cultural planning for the community, and by offering various educational opportunities and administrative services in support of artists, art agencies and audiences. Caldwell Arts Council Limited Endowed Fund supports the cultural arts in Caldwell County by encouraging participation in a variety of arts events, promoting the arts, by cultural planning for the community, and by offering various educational opportunities and administrative services in support of artists, art agencies and audiences.
Burke County Friends for Animals Fund creates a permanent source of income for the Friends for Animals.
Camp Lake James Stewardship Fund supports outdoor educational projects, environmental and historical conservation and research projects, civic projects and scholarship programs in Burke and McDowell counties.
Burke County United Way Fund is used to assess, on a continuing basis, the need for human service programs; to see solutions to human problems; to assist in the development of new or the expansion or modification of existing human service programs; to promote preventive activities and foster cooperation among local, state and national agencies serving the community.
Charles M. and Alice M. Carey Endowment for the Humane Treatment of Animals Fund provides annual distributions to Friends for Animals Humane Society of Burke County for the benefit of domestic animals and their treatment in Burke County.
Burke Education Endowment Program Limited Endowment is established to provide every Burke County high school graduate (who lacks the financial means) the opportunity to attend Western Piedmont Community College and earn a degree. Burke Hospice and Palliative Care Limited Endowed and Endowed Funds provide palliative and supportive care for terminally ill patients and their families, either directly or in
Community Fund supports community grants and the ongoing operations of the Foundation. Jackie and Paul Deaton Fund has broad charitable purposes. Jimmy C. Draughn Scholarship Fund provides scholarships to qualified applicants from eastern Burke County, North Carolina.
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ENDOWMENT FUNDS
Drexel Alumni Association Fund provides scholarships to qualified applicants from the Drexel School area of Burke County, North Carolina. Jean Conyers Ervin Fund benefits the Presbyterian Church of Morganton, Burke Hospice and Palliative Care and the North Carolina Room at the Burke County Public Library. Mildred P. and J. Hugh Fletcher Fund has broad charitable purposes. Foothills Conservancy of North Carolina Burke County Fund supports Foothills Conservancy’s operations and mission of land and water conservation in Burke County. Good Samaritan Clinic Fund provides resources to an inter-denominational Christian organization which provides medical care, medications, pastoral support and counseling to the medically needy and economically disadvantaged residents of Burke County. Francis and Emily Grill Memorial Fund supports the programs of the following nonprofit organizations: Alzheimer’s Association, Burke Hospice and Palliative Care, American Cancer Society, Grandfather Home for Children, South-
mountain Children and Family Services, St. Jude Children’s Research Hospital, Habitat for Humanity of Burke County, Barium Springs Home for Children and Disabled American Veterans. Habitat for Humanity of Burke County, Inc. Fund supports the Gospel of Jesus Christ by developing, building, renovating, rehabilitating and maintaining decent housing in Burke County for economically disadvantaged people and to help them create a better human habitat in which to live and work. Joel Hastings Fund provides financial assistance for enrichment opportunities for Burke County children with special needs. Historic Burke Foundation - Alice Elaine Falls Limited Endowed and Endowed Funds provide funding for the programs and projects of the Historic Burke Foundation. Larry and Louise Huffman Scholarship Fund provides scholarships to qualified applicants from eastern Burke County, North Carolina. Andrea Galen Jacks Scholarship Fund provides educational opportunities and enrichment for foster care children in the custody of the Burke County Department of Social Services. Joyce Amos Jones Fund has broad charitable purposes. John L. and Caroline W. Kos Fund is established to meet the ever-changing charitable needs of the Burke County community. Library Foundation of Burke County Fund supports the maintenance and programs of a free public library in Burke County.
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ENDOWMENT FUNDS
Jerald C. Liebhart, Sr. and Grace Folmar Liebhart Fund provides funds for a travel fellowship outside or within the United States primarily for a member, between the ages of sixteen and twenty-two, of First Baptist Church of Morganton, North Carolina. Lifegains Limited Endowed Fund will support its charitable mission of operating as a foster care services agency and providing alternative family living services to mentally retarded and developmentally disabled adults. Martha’s Park Fund provides funding to preserve and maintain the park. Albert Mehl Fund provides support and charitable services to the deaf and hearing impaired community in and around Burke County, North Carolina. Raymond K. Miller Scholarship Fund was established in memory of Raymond K. Miller, a beloved, thirty year professor at Western Piedmont Community College. This fund will provide scholarships to qualified applicants attending Western Piedmont Community College. Morgan-Avery Fund has broad charitable purposes. Morganton Day School Scholarship Fund provides scholarships to qualified applicants to Morganton Day School. Mountain View Cemetery Fund is used for the charitable purposes of the Evangelical Methodist Church and the First Baptist Church of Connelly Springs, specifically the maintenance of the Mountain View Cemetery. Options Against Family Violence Fund supports intervention services for victims of domestic violence, rape and sexual assault in Burke County.
Gresham Orrison Fund has broad charitable purposes. Ann Cornwell Patton and George Thomas Cornwell Fund provides educational opportunities to persons who are economically disadvantaged including assistance to at-risk preschool children. It also supports the administrative expenses of the Foundation for the first ten years. Quaker Meadows Cemetery Fund provides funding for the maintenance and preservation of the Quaker Meadows Cemetery which is owned by the Historic Burke Foundation. Emanuel A. and Romilda P. Richard Fund benefits Waldensian Presbyterian Church Service Committee, Burke United Christian Ministries Food Services Program, Valdese Elementary School (special needs for children) and Burke Hospice and Palliative Care. Annually, a portion of the Fund meets the changing needs of the Burke County community as determined by the Community Foundation. Rock School Arts Foundation Fund helps to promote and encourage interest in the visual and performing arts through the Rock School Art Foundation.
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ENDOWMENT FUNDS
John P. Rostan, Jr. and Naomi Bounous Rostan Fund has broad charitable purposes. Rotary Club of Morganton Scholarship Fund provides scholarships to qualified applicants from the area in and around Burke County.
changing needs of the Burke County community. Teeth In Need Fund is established by a devoted friend to provide for the immediate dental care needs of the uninsured children in Burke County. The Good Samaritan Clinic and the Burke County school nurses will work together to provide these services to Burke County children.
Salsbury - Taylor Fund has broad charitable purposes. Christian Shull Children’s Fund is established for broad charitable purposes and the needs of children in Burke County.
Valdese Rotary Club Scholarship Fund provides scholarships to qualified applicants from eastern Burke County, North Carolina.
William E. and Laura Ervin Smith Fund benefits the Salvation Army in Burke County, Burke Hospice and Palliative Care, Foothills Conservancy of North Carolina, Western Piedmont Community College, maintenance and operation of the Sam J. Ervin, Jr. Library at Western Piedmont Community College and the changing needs of the Burke County community.
Waldensian Presbyterian Church Cemetery Fund provides funding for the maintenance of the cemetery.
Southmountain Children and Family Services Fund supports the programs and purposes of Southmountain Children and Family Services.
Carl H. and Linda S. Wall Fund is established to meet the ever-changing charitable needs in and around Burke County, North Carolina.
Stiff Fund is established in memory of Dr. A. Olin and Evelyn Senter Stiff to improve healthcare in Burke County with a current focus on nursing scholarships and the School Health Nurse Program in the Burke County Public Schools.
Wynne and Otto Woerner Scholarship Fund helps Burke County students further their education. One scholarship is specifically for direct descendants of Carolina Shoe employees and the other scholarship is available to anyone living in Burke County.
Stop Alcohol and Drug Addiction Fund is established to support the work of the Burke Council on Alcoholism and Chemical Dependency. Donald and Betty Taylor Fund benefits the Alexander Senior Center, the American Red Cross (Burke County Chapter), Blue Ridge Community Action, Caldwell Academy in Greensboro, First Baptist Church of Morganton, the Morganton Woman’s Club, Southmountain Children and Family Services, Three Forks Baptist Church in Alexander County and the
Waldensian Presbyterian Women Scholarship Program Fund provides scholaships to qualified applicants from Waldensian Presbyterian Church.
Glenn R. Yoder Scholarship Fund provides scholarships to Burke County students with financial needs and whose character reflects a commitment to the objectives of Lions International. Clyde Nichols Young, Jr. Scholarship Fund provides scholarships to qualified applicants from Freedom High School.
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SCHOLARSHIPS, COMMITTEES & STAFF
ADVISORY COMMITTEES - 2008 Acceptance Committee John Ervin, Chair Phil Church Jack Weir Executive Committee John Ervin, Chair John Branstrom Marc Mitchell Susan Pollpeter Jim Rostan Ben Succop Finance Committee Jim Lowdermilk, Chair Mike Ayotte Chip Black Mike Fulenwider Ben Succop Emily Williamson Grants Committee Paul Deaton, Chair Doris Fullwood John McElrath Marc Mitchell Jean VanNoppen Eddie Wall
Investment Committee Sterling Collett, Chair John Branstrom Rountree Collett John Rostan Otto Woerner Nominating Committee Jim Rostan, Chair Chip Black John Ervin Personnel Committee Jim Rostan, Chair Doris Fullwood Harold Mitchell Scholarship Committee Le Erwin, Chair Hugh Fletcher Doris Fullwood Susan Pollpeter Tom Rogers, Advisory Emily Williamson
Staff Toni Nadeau, Financial Assistant Caroline Avery, Executive Director
SCHOLARSHIP RECIPIANTS - 2008 Jimmy C. Draughn Scholarship Amber Bradshaw (WPCC)
Raymond K. Miller Scholarship Vue Yang (WPCC)
Drexel Alumni Assocation – Mildred and Hugh Fletcher Scholarship Augustus Morrow (UNC - Wilmington)
Stiff Endowment Cadria Clymer (WCU) Clarissa Crooks (WS State University) April Feimster (Lees McRae College)
Drexel Alumni Association – Harry L. Hallyburton Scholarship Jessica Buchanan (Wingate University) Kristan Chavis (WPCC) Aaron Dale (NC State University) Ashley White (Lenoir Rhyne College) Drexel Alumni Association – Faye T. Russell Scholarship Timothy Dula, II (UNC Greensboro) Anna Epley (Lees McRae College) Larry & Louise Huffman Scholarship Dustin Beck (Emory & Henry College)
Waldensian Presbyterian Women – Michael Morse Scholarship Augustus Morrow (UNC - Wilmington) Waldensian Presbyterian Women – Rostan Family Foundation Scholarship Hailey Garrou (Lenoir Rhyne College)
Valdese Rotary Club Joseph Brookes (NC State University) Shawn Chapman (WCU) Elizabeth Hawes (WPCC) Augustus Morrow (UNC - Wilmington) Megan Smith (ASU)
Wynne and Otto Woerner Scholarship Selita Lowman (Caldwell Community College) Shawn Chapman (WCU)
Waldensian Presbyterian Women Zacheus Daw (Guilford College) Catherine Lafferty (UNC - Chapel Hill) Whitney Lowman (UNC - Chapel Hill) Christina Naylor (ASU) Sarah Sanders (UNC - Asheville)
Clyde Nichols Young, Jr. Scholarship Andrew Foote (Georgia Institute of Technology)
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Glenn R. Yoder Scholarship Tina Lor (UNC - Charlotte)
Total: $33,745.00 Number of Scholarships: 29
FINANCIAL REPORTS Year Ended December 31, 2008 (With Comparative Totals for 2007)
STATEMENT OF FINANCIAL POSITION Assets
2008
2007
Cash assets: Cash & equivalents Promises to give, current portion Other receivables Total current assets
$680,239 3,050 6,416 689,705
$1,874,644 14,175 542 1,889,361
Promises to give, less current portion Investments Property & equipment
4,025 7,859,402 11,022
4,050 6,067,303 16,177
$8,564,154
$7,976,891
$4,731
$918
235,666 110,850 316,837 663,353 7,846,070 50,000 8,559,423
286,474 138,804 403,311 828,589 7,107,384 40,000 7,975,973
$8,564,154
$7,976,891
Total assets
Liabilities & Net Assets Current liabilities: Accounts payable Net assets: Unrestricted: Discretionary Board designated Donar advised Total unrestricted Temporarily restricted Permanently restricted Total net assets Total liabilities & net assets
GROWTH OF ENDOWMENT AND TOTAL ASSETS $8,564,154 $7,976,891 $8,006,920 $7,286,188
$9,000,000 $8,000,000 $7,000,000 $5,375,614
$6,000,000
$4,846,804
$5,000,000 $4,000,000 $3,000,000
$3,313,427 $2,755,307 $2,091,065 $2,277,473 $1,619,964
$2,812,367
$2,000,000 $1,000,000
Endowment Total Assets 2003
2004
2005
2006
2007
2008
FINANCIAL REPORTS Year Ended December 31, 2008 (With Comparative Totals for 2007)
STATEMENT OF ACTIVITIES Revenues & other support Contributions Investment Income Net realized & unrealized loss on investments In-kind contributions Total revenues & other support
2008 $2,625,809 468,030 (1,736,667) 13,574 $1,370,746
2007 $2,901,613 337,021 (142,439) 12,441 $3,108,636
703,239 84,057 787,296
441,455 62,910 504,365
583,450 583,450 7,975,973 $8,559,423
2,604,271 2,604,271 5,371,702 $7,975,973
Expenses Program service Management & general Total expenses Increase (decrease) in net assets before inter-fund transfers Increase (decrease) in net assets Net assets at beginning of year Net assets at end of year
GRANTS BY AREA 2008
GRANTS TO THE COMMUNITY $700,000
Arts, Culture and Humanities $86,308
Religion $101,730
14%
16%
$619,176
$600,000 $500,000 $378,544
$400,000 Health $151,611
$354,369
29%
24%
Human Services $174,815
$300,000 $235,984
$200,000
14% 3% Education $87,406
Total
Environmental/Animals $17,305
$619,176
$100,000
$146,027 $84,257
2003
2004
2008 Audit completed by Painter, Russell & Associates, PLLC. Financials were extracted from the annual audit. Complete audited statements are available at the offices of the Community Foundation.
2005
2006
2007
2008
Artwork courtesy of Betty Garrou
Please visit our website! www.cfburkecounty.org Community Foundation of Burke County 205 North King Street • PO Box 1156 • Morganton, NC 28680 Tel (828) 437-7105 • Fax (828) 437-0433
[email protected]
