24 Foundation Inc

EIN: 203768277 501(c)(3) Diseases & Disorders

Charlotte, NC

Total Revenue
$1,798,504
Total Expenses
$1,279,057
Total Assets
$1,202,070
Net Assets
$770,598
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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
NC
Principal Officer
Katherine Anderson Murphy
Phone
7043654417
Tax Period
2023-01-01 to 2023-12-31

24 Foundation Inc, founded in 2005, is a community nonprofit in the Diseases & Disorders sector that reported $1.8M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $519K, a strong 29% operating margin.

Mission

24 FOUNDATION AIMS TO INSPIRE AND ENGAGE COMMUNITIES TO MAKE AN IMMEDIATE IMPACT ON THE LIVES OF PEOPLE AFFECTED BY CANCER. THROUGH A 24-HOUR-LONG CYCLING AND WALKING EVENT, OUR ORGANIZATION HAS GATHERED 26,000 PARTICIPANTS FROM 50 STATES, IN ADDITION TO THEIR DONOR SUPPORT, AND RAISED OVER $27M FOR THIS MISSION SINCE OUR INCEPTION. SEE SCHEDULE I TO REVIEW GRANTS PAID IN 2023 TO FULFILL THIS MISSION. THE BELOW REPORT DETAILS GRANTS PAID IN DECEMBER 2022 AND UTILIZED BY GRANTEES IN THE 2023 FISCAL YEAR.

Program Service Accomplishments

Program 1
Expenses: $980,785 Revenue: $183,355

2023 WAS A YEAR OF RETURNING TO THE NEW NORMAL FOLLOWING THE PANDEMIC. 24 FOUNDATION SAW AN INCREASE IN BOTH PARTICIPATION AND DONATIONS. CONTRIBUTIONS FROM PARTICIPANTS, DONORS, AND CORPORATIONS...

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2023 WAS A YEAR OF RETURNING TO THE NEW NORMAL FOLLOWING THE PANDEMIC. 24 FOUNDATION SAW AN INCREASE IN BOTH PARTICIPATION AND DONATIONS. CONTRIBUTIONS FROM PARTICIPANTS, DONORS, AND CORPORATIONS ALLOWED 24 FOUNDATION TO PROVIDE A HIGH LEVEL OF SUPPORT TO OUR BENEFICIARIES AS WE WORK TO FURTHER OUR MISSION TO INSPIRE AND ENGAGE COMMUNITIES TO MAKE AN IMMEDIATE IMPACT ON THE LIVES OF PEOPLE AFFECTED BY CANCER. WITH MORE THAN $1,627,000 RAISED FOR CANCER NAVIGATION AND SURVIVORSHIP PROGRAMS THROUGH THE PEER-TO-PEER FUNDRAISING EFFORTS OF MORE THAN 860 IN-PERSON AND 55 VIRTUAL CYCLISTS AND WALKERS, WE ENGAGED PARTICIPANTS OF ALL AGES FROM MORE THAN 25 STATES. BELOW ARE THE ACCOMPLISHMENTS OF OUR ORGANIZATION IN 2023:OUR CONTRIBUTION OF A 5-YEAR, $1.75M COMMITMENT, THAT IS TO BE PAID IN 2020 THROUGH 2025, TO ATRIUM HEALTH FOUNDATION (FORMERLY CAROLINAS HEALTHCARE FOUNDATION) WILL BE DISTRIBUTED AT LEVINE CANCER INSTITUTE AND LEVINE CHILDRENS HOSPITAL. THE GOAL OF THIS FUNDING IS TO FURTHER LCI AND LCH MISSIONS TO CHANGE THE COURSE OF CANCER CARE BY REMOVING THE BARRIERS THAT SEPARATE PATIENTS FROM ACCESS TO WORLD-CLASS RESEARCH, BREAKTHROUGH TREATMENTS, AND QUALITY CARE.DUE TO THE PANDEMIC AND DECREASED CONTRIBUTED INCOME, WE DISTRIBUTED $385K TO ATRIUM IN 2022, CARRYING OVER $105K OF OUR OBLIGATION FOR THE REMAINING FOUR YEARS OF THE CONTRACT. IN 2023, WE CONTRIBUTED $402.5K, LEAVING THE REMAINING BALANCE AT $52.5K. OUR FUNDING TO LEVINE CANCER INSTITUTE PROVIDED IMPORTANT SERVICES TO CANCER SURVIVORS UNDERGOING TREATMENT THAT ARE NOT COVERED BY TRADITIONAL INSURANCE PLANS. SUCH SERVICES INCLUDE, BUT ARE NOT LIMITED TO, PATIENT NAVIGATION, DIETICIAN CONSULTATION, ART THERAPY, SUPPORT GROUPS, YOGA AND TAI CHI, ACUPUNCTURE AND MORE. FUNDING PROVIDED OVER 10,000 IN-PERSON OR VIRTUAL PATIENT OR CAREGIVER ENCOUNTERS WITHIN THE DEPARTMENT OF INTEGRATIVE MEDICINE IN 2023. THROUGH 24 FOUNDATIONS FUNDING OF A BILINGUAL, SPANISH-SPEAKING NURSE NAVIGATOR AT LEVINE CANCER INSTITUTE. FUNDING AT LEVINE CHILDRENS HOSPITAL PROVIDED A 24 FOUNDATION HEALTHY SNACK CART FOR OVER 350 PATIENTS IN 2023, WHICH ALLOWS FOR HEALTHY OPTIONS TO HELP FUEL LONG DAYS OF TREATMENT AND OVER 300 PATIENT VISITS TO A DEDICATED INTEGRATIVE ONCOLOGY DIETITICIAN. FUNDING ALSO PROVIDED MORE THAN 1,000 IN-PERSON OR VIRTUAL PATIENT OR CAREGIVER ENCOUNTERS WITHIN THE LCH DEPARTMENT OF INTEGRATIVE MEDICINE IN 2023.OUR CONTRIBUTION TO BE THE MATCH ALLOWED 24 FOUNDATION TO SUPPORT THE NATIONAL REGISTRY OF POTENTIAL BLOOD AND MARROW DONORS AND FUND EDUCATIONAL AND FINANCIAL SERVICES FOR PATIENTS AND FAMILIES BEFORE, DURING AND AFTER TRANSPLANT.OUR CONTRIBUTION TO CAROLINA BREAST FRIENDS ALLOWED 24 FOUNDATION TO SUPPORT WOMEN FACING A BREAST CANCER DIAGNOSIS WITH BOTH FINANCIAL SUPPORT AND ACCESS TO HEALTHCARE SUPPORT. OUR CONTRIBUTION TO CASTING CAROLINAS ALLOWED 24 FOUNDATION TO FUND 48 WOMEN WITH BREAST CANCER THROUGH IN-PERSON AND VIRTUAL RETREATS IN NORTH CAROLINA, WHERE THEY COMBINE MENTAL HEALTH, CANCER EDUCATION, AND PEER SUPPORT EXPERIENCES WITH THE THERAPEUTIC SPORT OF FLY FISHING. OUR CONTRIBUTION TO CLAIRES ARMY, PROVIDED FINANCIAL ASSISTANCE AND CLAIRE PACKAGES TO 116 FAMILIES AT LEVINES CHILDRENS HOSPITAL WHOSE CHILDREN WERE RECENTLY DIAGNOSED WITH CANCER. PACKAGES INCLUDE NAVIGATION MATERIALS, FINANCIAL SUPPORT, AND OTHER ESSENTIAL SUPPORT MECHANISMS FOR FAMILIES RECEIVING THE WORST POSSIBLE NEWS. FUNDING ALSO SUPPORTED 545 FREE MEALS FOR FAMILIES IN-HOSPITAL. OUR CONTRIBUTION TO GO JEN GO GAVE 24 FOUNDATION THE OPPORTUNITY TO PROVIDE INDIVIDUALS AND FAMILIES BATTLING BREAST CANCER FINANCIAL ASSISTANCE AND EMOTIONAL SUPPORT THROUGHOUT NORTH AND SOUTH CAROLINA. SPECIFICALLY, FUNDING IS USED TO SUBSIDIZE RENT, PAY BILLS, AND CONDUCT HOME AND CAR REPAIRS FOR THOSE BATTLING BREAST CANCER. FUNDING FROM 24 FOUNDATION SUPPORT 324 CANCER SURVIVORS IN 2023. OUR CONTRIBUTION TO HOSPITALITY HOUSE OF CHARLOTTE PROVIDED MORE THAN 200 FAMILIES NAVIGATING CANCER TREATMENT AT A CHARLOTTE AREA HOSPITAL OVERNIGHT LODGING AND THE ABILITY TO STAY CLOSE TO THEIR LOVED ONE UNDERGOING TREATMENT AND GIVES THE PATIENT THE OPPORTUNITY TO STAY CLOSER TO THEIR SOURCE OF TREATMENT. OUR CONTRIBUTION TO ISABELLA SANTOS FOUNDATION PROVIDED PRECISION-BASED SUPPORT TO THE FAMILIES OF CHILDREN WITH RARE CANCER DIAGNOSES. OUR CONTRIBUTION TO NOTHING PINK, PROVIDED PRE AND POST-SURGERY CARE PACKAGES TO WOMEN FACING A TRIPLE-NEGATIVE BREAST CANCER DIAGNOSIS/SURGERY.OUR CONTRIBUTION TO PINKY SWEAR FOUNDATION, PROVIDED FINANCIAL SUPPORT TO 43 FAMILIES WHOSE CHILDREN WERE RECENTLY DIAGNOSED WITH CANCER. OUR CONTRIBUTION TO QUEENS UNIVERSITY GAVE 24 FOUNDATION THE OPPORTUNITY TO SUPPORT STUDENTS AFFECTED BY CANCER THROUGH SCHOLARSHIP AND ENDOWMENT FUNDING, PROVIDING FINANCIAL ASSISTANCE FOR THEIR UNDERGRADUATE EXPERIENCE TO ENSURE CANCER HAS THE LEAST IMPACT POSSIBLE ON THEIR EDUCATIONAL PROCESS. FUNDING PROVIDED ONE $10,000 SCHOLARSHIP IN 2023. IN 2023, THE FUNDS RAISED AND DISTRIBUTED BY 24 FOUNDATION PROVIDED CRITICAL SUPPORT TO CANCER PATIENTS, SURVIVORS, AND THEIR FAMILIES BOTH NATIONALLY AND WITHIN THE LOCAL COMMUNITY. 24 FOUNDATIONS MISSION REMAINS FOCUSED ON ENGAGING AND INSPIRING COMMUNITIES THROUGH IMPACTFUL EVENTS THAT DIRECTLY BENEFIT THOSE AFFECTED BY CANCER.THE ONGOING COMMITMENT IS EVIDENT IN 24 FOUNDATIONS EFFORTS TO EXPAND CANCER NAVIGATION AND SURVIVORSHIP SERVICES. THESE SERVICES SIGNIFICANTLY ENHANCE THE QUALITY OF LIFE FOR INDIVIDUALS DEALING WITH CANCER, OFFERING PERSONALIZED SUPPORT AND VALUABLE INFORMATION ABOUT AVAILABLE SURVIVORSHIP PROGRAMS. THROUGHOUT 2023, 24 FOUNDATION MADE SUBSTANTIAL STRIDES IN ADVANCING THESE ESSENTIAL SERVICES.WITH A SUCCESSFUL YEAR OF FUNDRAISING IN THE REAR VIEW MIRROR, 24 FOUNDATION IS STRONGLY POSITIONED TO CONTINUE ITS VITAL WORK WITHIN THE CANCER COMMUNITY. 24 FOUNDATION IS DEDICATED TO FURTHER STRENGTHENING THE ORGANIZATIONAL INFRASTRUCTURE, IMPROVING THE QUALITY AND SCALABILITY OF ITS EVENTS THROUGH STRATEGIC PARTNERSHIPS, AND LAYING THE GROUNDWORK FOR EXPANDING THE IMPACT IN THE FUTURE.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,593,957
Program Service Revenue $183,355
Investment Income $18,609
Other Revenue $2,583
TOTAL REVENUE $1,798,504

Expense Breakdown

Grants Paid $229,892
Salaries & Benefits $385,532
Fundraising Expenses $112,789
Program Expenses $980,785
Other Expenses $663,633
TOTAL EXPENSES $1,279,057

Year-over-Year Comparison

2023 2022 Change
Revenue $1,798,504 $1,443,342 +0.2%
Expenses $1,279,057 $1,130,784 +0.1%
Net Income $519,447 $312,558 +0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
16
Employees
4
Volunteers
210

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$118,900
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Katherine Anderson Murphy Executive Dir. 40.00
Officer
$118,900 $0 $118,900
Chasse Bailey-Dorton Past Chair 3.00
Officer Director
$0 $0 $0
Blake Brinkley Director 3.00
Director
$0 $0 $0
Daniel Cottingham Director 3.00
Director
$0 $0 $0
Derek Cornwall Director 3.00
Director
$0 $0 $0
Chad Frk Treasurer 3.00
Officer Director
$0 $0 $0
Wendy Fu Director 3.00
Director
$0 $0 $0
Johan Jooste Director 3.00
Director
$0 $0 $0
Garrett Lucas Director 3.00
Director
$0 $0 $0
Spencer Lueders Founder 3.00
Director
$0 $0 $0
Rick Melville Director 3.00
Director
$0 $0 $0
Brian McKeon Secretary 3.00
Officer Director
$0 $0 $0
Jeffrey Strain Director 3.00
Director
$0 $0 $0
Joe Vogelbacher Vice Chair 3.00
Officer Director
$0 $0 $0
Bob Woods Chair 3.00
Officer Director
$0 $0 $0
Patrick Meadors Director 3.00
Director
$0 $0 $0
Matthew Cameron Vice President 3.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,798,504 $1,279,057 $1,202,070 $519,447
2022 $1,443,342 $1,130,784 $1,038,019 $312,558
2021 $1,362,203 $987,101 $1,081,885 $375,102
2020 $1,541,142 $2,700,221 $1,087,815 $-1,159,079
2019 $1,766,354 $1,683,438 $803,693 $82,916
2018 $2,255,145 $1,862,821 $1,076,336 $392,324
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