Historic Wilmington Foundation Inc

EIN: 566074528 501(c)(3) Arts, Culture & Humanities

Wilmington, NC

Total Revenue
$1,032,034
Total Expenses
$442,950
Total Assets
$2,412,015
Net Assets
$2,096,805
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Financial Trends

Organization Details

Formation Year
1966
Legal Domicile
NC
Principal Officer
William Stolz
Phone
9107622511
Tax Period
2024-01-01 to 2024-12-31

Historic Wilmington Foundation Inc, founded in 1966, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 131% from the prior year, signaling strong growth momentum. The organization ran a surplus of $589K, a strong 57% operating margin.

Mission

The mission of Historic Wilmington Foundation is to protect and preserve the irreplaceable historic resources of Wilmington and the Lower Cape Fear Region.

Program Service Accomplishments

Program 1
Expenses: $264,730 Revenue: $493,672

Historic Wilmington Foundation (HWF) operates a retail salvage operation, Legacy Architectural Salvage (LAS). HWF works every day to keep historic properties intact and in place. But when a property...

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Historic Wilmington Foundation (HWF) operates a retail salvage operation, Legacy Architectural Salvage (LAS). HWF works every day to keep historic properties intact and in place. But when a property is facing demolition, LAS serves as the best-case option in a worst-case scenario. Our team of staff and volunteers deconstruct historic properties, salvaging architectural elements (e.g., flooring, doors, windows, door knobs, fireplace mantles, newel posts, and more). LAS also accepts donations of pre-1960s architectural salvage from homeowners and contractors, who have removed such elements during deconstruction and renovation projects. These elements are then sold to members of our community, who utilize them in restoration and rehabilitation projects. As an operation of HWF, LAS diverts tons of wood from the landfill and places these salvaged elements right back into area properties, helping to preserve our region's built history. Proceeds from LAS support HWF's preservation efforts.At LAS, free workshops are offered on a regular basis, covering various topics related to home repair and maintenance. Wilmington is blessed with a large supply of historic homes, but unfortunately, there's a limited number of home improvement professionals who specialize in repairing and restoring historic homes. LAS works to fill that gap, serving as a much needed hub for knowledge on how to preserve and protect our built history. Through these workshops, LAS connects historic preservation professionals with historic home stewards, educating and empowering our community. These practical demonstrations promote self-sufficiency in area homeowners as taking on home improvement projects themselves can be far less costly than hiring help. Proper maintenance ensures that historic homes remain affordable and protects those homes for future generations.

Program 2

For over 55 years, HWF has preserved our region's built history utilizing a revolving grant fund, easements, education, and advocacy. Wilmington has eight National Register of Historic Places and HWF...

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For over 55 years, HWF has preserved our region's built history utilizing a revolving grant fund, easements, education, and advocacy. Wilmington has eight National Register of Historic Places and HWF has played a pivotal role in the creation and designation of all of them. Beginning with the creation of the Wilmington Historic and Archeological District in 1974, HWF has helped establish the National Register of Historic Places of Market Street Mansion, Carolina Place, Carolina Heights, Masonboro Sound, Sunset Park, Westbrook-Ardmore, and Brookwood. HWF has one of the most prolific local plaque programs in the country, featuring six distinctive plaques to honor a variety of historic properties. More than 700 plaques have been researched and approved for historic properties throughout New Hanover County, NC, and beyond. Another educational program is Tar Heels Go Walking, a walking tour for New Hanover County's third grade students. HWF also holds free walking tours each month for adults, covering a variety of topics related to architecture and history. In the last three years, HWF has used its revolving grant fund for the relocation of 310 Bladen, an 1890s bungalow set for demolition, and the restoration of Reaves Chapel, a local landmark to Gullah Geechee culture and heritage. HWF's Preservation Equity Fund helps to save properties on the City of Wilmington's Demolition by Neglect (DBN) list; this program serves our neighbors who are most in need of saving not just their homes, but our community's built history. In 2021, HWF committed itself to finding a solution for the perpetual care of Maides Cemetery, a historic African American cemetery (located in New Hanover County) with graves dating back to the 19th century. Currently, HWF is assisting Giblem Lodge, the second-oldest Black Masonic Temple in the state, to prepare a local landmark application, engage consultants, and apply for grant funding to support dire repairs. HWF has also partnered with Cape Fear Community College to create a historic preservation construction certification. Training more contractors to properly restore historic properties ensures a strong future for our historic homes and strengthens our local job market.

Program 3

HWF partners with the City of Wilmington in an effort to save properties on the Demolition by Neglect (DBN) list. Grant funding is received from The 1772 Foundation, which helps identify endangered...

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HWF partners with the City of Wilmington in an effort to save properties on the Demolition by Neglect (DBN) list. Grant funding is received from The 1772 Foundation, which helps identify endangered properties and then HWF works with area homeowners, providing grant funds for necessary repairs. In addition to funding, HWF provides advice and support during the repair process.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $472,038
Program Service Revenue $10,735
Investment Income $501,579
Other Revenue $47,682
TOTAL REVENUE $1,032,034

Expense Breakdown

Grants Paid $0
Salaries & Benefits $248,989
Fundraising Expenses $51,876
Program Expenses $264,730
Other Expenses $193,961
TOTAL EXPENSES $442,950

Year-over-Year Comparison

2024 2023 Change
Revenue $1,032,034 $446,540 +1.3%
Expenses $442,950 $535,317 -0.2%
Net Income $589,084 $-88,777 -7.6%
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
19
Independent Members
19
Employees
9
Volunteers
65

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
4
$0
Total Directors
19
$19,318
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Stephanie Bolton Board Member 4.00
Director
$0 $0 $0
Patricia Wilson President 4.00
Officer Director
$0 $0 $0
Andrew Hewitt Secretary 4.00
Officer Director
$0 $0 $0
Jan Brewington Vice President 4.00
Officer Director
$0 $0 $0
Larry Hovis Executive Committee Member at Large 4.00
Director
$0 $0 $0
Sylvia Kochler Board Member at Large 4.00
Director
$0 $0 $0
Robert Hotes Board Member 4.00
Director
$0 $0 $0
Dr Julius Jones Board Member at Large 4.00
Director
$0 $0 $0
Kathy King Board Member 4.00
Director
$0 $0 $0
Beth Looney Board Member 4.00
Director
$0 $0 $0
Michael Murchison Treasurer 4.00
Officer Director
$0 $0 $0
Melissa Pudiwitr Board Member 4.00
Director
$0 $0 $0
Gregg Thomas Board Member 4.00
Director
$0 $0 $0
Dr Cara Ward Board Member 4.00
Director
$0 $0 $0
Steve Wolf-Camplin Board Member 4.00
Director
$0 $0 $0
William Stolz Executive Director 40.00
Director
$19,318 $0 $19,318
Phyllis Goodson Board Member 4.00
Director
$0 $0 $0
Sydny Hess Board Member 4.00
Director
$0 $0 $0
Beth Pancoe Board Member 4.00
Director
$0 $0 $0
Isabelle Shepherd Former Interim Executive Director 40.00
$34,580 $0 $34,580
Travis J Gilbert Former Executive Director 40.00
$26,583 $0 $26,583
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 $1,032,034 $442,950 $2,412,015 $589,084
2023 $446,540 $535,317 $1,605,755 $-88,777
2022 $630,886 $513,171 $1,732,232 $117,715
2021 $385,227 $358,743 $1,804,355 $26,484
2020 $322,214 $454,539 $1,506,106 $-132,325
2019 $429,149 $270,847 $1,574,421 $158,302
2018 $237,944 $366,368 $1,230,783 $-128,424
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