WESTERN NORTH CAROLINA REAL ESTATE FOUNDATION INC

EIN: 261998057 501(c)(3) Philanthropy & Grantmaking

ASHEVILLE, NC

Total Revenue
$1,164,004
Total Expenses
$1,147,247
Total Assets
$120,376
Net Assets
$120,376
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
NC
Principal Officer
GRAHAM KEEVER
Phone
8282544960
Tax Period
2024-07-01 to 2025-06-30

WESTERN NORTH CAROLINA REAL ESTATE FOUNDATION INC, founded in 2007, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 3382% from the prior year, signaling strong growth momentum.

Mission

TO DEVELOP CHARITABLE RESOURCES THROUGH THE ACQUISITION AND LIQUIDATION OF GIFTS OF REAL ESTATE AS THEY BECOME AVAILABLE FOR THE BENEFIT OF THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.

Program Service Accomplishments

Program 1
Expenses: $1,105,319

DURING 2024, PROPERTY WAS SOLD TO SUPPORT THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA. THE ORGANIZATION INCURRED ONLY MINIMAL MAINTENANCE EXPENSES ON THE EXISTING REAL ESTATE FOR FUTURE SALE...

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DURING 2024, PROPERTY WAS SOLD TO SUPPORT THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA. THE ORGANIZATION INCURRED ONLY MINIMAL MAINTENANCE EXPENSES ON THE EXISTING REAL ESTATE FOR FUTURE SALE, PROCEEDS FOR USE TO BENEFIT THE COMMUNITY FOUNDATION OF WESTERN NORTH CAROLINA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,384,019
Program Service Revenue $12,000
Investment Income $-233,282
Other Revenue $1,267
TOTAL REVENUE $1,164,004

Expense Breakdown

Grants Paid $1,105,319
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,105,319
Other Expenses $41,928
TOTAL EXPENSES $1,147,247

Year-over-Year Comparison

2024 2023 Change
Revenue $1,164,004 $33,433 +33.8%
Expenses $1,147,247 $304,762 +2.8%
Net Income $16,757 $-271,329 -1.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
10
Employees
N/A
Volunteers
10

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
3
$612,179
Total Directors
13
$612,179
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSH HOLMES DIRECTOR 0.50
Director
$0 $0 $0
CARLA BARNARD CHAIR 0.50
Director
$0 $0 $0
GRAHAM KEEVER TREASURER 0.50
Officer Director
$0 $43,698 $274,685
LAURA HERNDON PRESIDENT 0.50
Officer Director
$0 $22,192 $152,308
MICHAEL FALKNOR DIRECTOR 0.50
Director
$0 $0 $0
BARBARA BASKERVILLE DIRECTOR 0.50
Director
$0 $0 $0
CHRISTINE MALLETTE DIRECTOR 0.50
Director
$0 $0 $0
JOANNE BADR MORGAN DIRECTOR 0.50
Director
$0 $0 $0
JULIE D KLIPP SECRETARY 0.50
Officer Director
$0 $21,521 $185,186
KIMBERLY WINTERS DIRECTOR 0.50
Director
$0 $0 $0
JOCHEN LUCKE DIRECTOR 0.50
Director
$0 $0 $0
KATE MADISON DIRECTOR 0.50
Director
$0 $0 $0
EVA CLEMENT DIRECTOR 0.50
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
2025 $1,164,004 $1,147,247 $120,376 $16,757
2024 $33,433 $304,762 $103,619 $-271,329
2023 $291,330 $2,742 $374,948 $288,588
2022 $9,873 $2,700 $86,359 $7,173
2021 $412,535 $401,130 $79,186 $11,405
2020 $10,924 $2,470 $67,781 $8,454
2019 $-60,624 $33,450 $59,327 $-94,074
2018 $12,454 $2,912 $153,401 $9,542
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