Polk County Community Foundation Inc

EIN: 510168751 501(c)(3) Philanthropy & Grantmaking

Tryon, NC

Total Revenue
$4,359,340
Total Expenses
$3,647,577
Total Assets
$65,749,988
Net Assets
$61,486,461
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
NC
Phone
8288595314
Tax Period
2024-01-01 to 2024-12-31

Polk County Community Foundation Inc, founded in 1975, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $4.4M in total revenue in fiscal year 2024. Revenue surged 71% from the prior year, signaling strong growth momentum. The organization ran a surplus of $712K, a strong 16% operating margin.

Mission

To administer funds entrusted to support charitable, cultural, educational and publicly beneficial activities in the community centered in and around Polk County, N.C. both by directly expending sums for such purposes and in cooperation with institutions qualified to carry out these objectives most efficiently. The foundation works with donors (both individuals and charitable organizations) to establish funds to benefit one or more named charities, to accomplish a certain objective (provide for cultural events, encourage the development of agriculture, provide free activities for youth, improve classroom teaching, etc.), to award scholarships to local students, and to allow the board of the Polk County Community Foundation to address the needs of the community as they change from time to time (unrestricted funds).

Program Service Accomplishments

Program 1
Expenses: $3,312,990 Revenue: $2,786,048

The Community Foundation is dedicated to improving the quality of life in Polk County, NC, and the surrounding areas. It fulfills this mission by: Awarding grants from unrestricted funds to support...

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The Community Foundation is dedicated to improving the quality of life in Polk County, NC, and the surrounding areas. It fulfills this mission by: Awarding grants from unrestricted funds to support meaningful local nonprofit projects Providing vocational and college scholarships to local students Distributing income from endowment funds according to donor or nonprofit guidelines Administering planned giving programs Offering resources and meeting spaces for nonprofits Helping donors and nonprofits achieve their charitable goals The Foundation currently administers over 225 charitable funds. In response to Hurricane Helene, the Board of Directors authorized the use of the Emergency Relief Fund to address urgent community needs. Additionally, three new grantmaking funds were established: The Repair and Rebuilding Fund The Green River Restoration Fund The Pacolet Valley Restoration Fund These funds enabled the launch of a streamlined grant application process, allowing for the quick and effective distribution of critical resources. They support organizations focused on recovery, reconstruction, and restoration efforts, as well as those impacted by the storm, helping them reopen and continue serving the community.

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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 $1,573,292
Program Service Revenue $0
Investment Income $2,500,137
Other Revenue $285,911
TOTAL REVENUE $4,359,340

Expense Breakdown

Grants Paid $2,816,454
Salaries & Benefits $624,938
Fundraising Expenses $54,308
Program Expenses $3,312,990
Other Expenses $206,185
TOTAL EXPENSES $3,647,577

Year-over-Year Comparison

2024 2023 Change
Revenue $4,359,340 $2,549,691 +0.7%
Expenses $3,647,577 $3,091,951 +0.2%
Net Income $711,763 $-542,260 -2.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
5
Volunteers
40

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
5
$241,500
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
A Thomas Jackson Treasurer 1.0
Officer Director
$0 $0 $0
Monica E Jones Secretary 1.0
Officer Director
$0 $0 $0
Peter R Franklin Vice Chair 1.0
Officer Director
$0 $0 $0
Sherry M Carter Chair 1.0
Officer Director
$0 $0 $0
Carolyn Gibson N/A 1.0
Director
$0 $0 $0
Dale L McEntire N/A 1.0
Director
$0 $0 $0
Frances H Parker N/A 1.0
Director
$0 $0 $0
Kevin D Burnett N/A 1.0
Director
$0 $0 $0
Norma W Batchelder N/A 1.0
Director
$0 $0 $0
Susan S McHugh N/A 1.0
Director
$0 $0 $0
Sara Barron Bell President & CEO 40.0
Officer
$201,250 $40,250 $241,500
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 $4,359,340 $3,647,577 $65,749,988 $711,763
2023 No data No data No data No data
2022 $3,247,757 $2,512,033 $56,500,870 $735,724
2021 $2,369,323 $2,308,096 $66,618,195 $61,227
2020 $3,595,104 $3,041,183 $61,835,986 $553,921
2019 $2,374,913 $2,231,036 $55,699,137 $143,877
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