2023-05-15T10:21:38-05:00 2022-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2021-07-01 820576292 GREATER CHARLOTTE CULTURAL TRUST GREA 7049734500 220 NORTH TRYON STREET CHARLOTTE NC 28202 DOUGLAS BENSON SECRETARY 7049734500 2023-05-12 1 DOUGLAS BENSON 999009999 AMANDA ADAMS P00748038 7043771678 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DOUGLAS BENSON 220 NORTH TRYON STREET CHARLOTTE NC 28202 2859147 0 X N/A X 2002 NC THE GREATER CHARLOTTE CULTURAL TRUST MANAGES CHARITABLE PERMANENT FUNDS IN SUPPORT OF THE ARTS & SCIENCE COUNCIL CHARLOTTE/MECKLENBURG AND ITS CULTURAL PARTNERS. 11 9 0 0 -485 4437 2795369 2859022 0 0 43 125 0 0 2795412 2859147 7436214 4814311 0 0 0 0 0 0 61342 739747 875066 8175961 5689377 -5380549 -2830230 215607180 187755408 0 0 215607180 187755408 GROWING AND SUSTAINING A VIBRANT CULTURAL COMMUNITY IN CHARLOTTE-MECKLENBURG BY PROVIDING ENDOWMENT MANAGEMENT AND OVERSIGHT AND INVESTMENT EXPERTISE TO BUILD AND GROW PERMANENT FUNDS FOR THE AREA'S ARTS, SCIENCE, AND HISTORY ORGANIZATIONS. 0 0 5213691 4814311 HISTORIC, ARTS & SCIENCES: THE TRUST OVERSEES THE CULTURAL ENDOWMENT TO HELP SUSTAIN AND GROW THE PERMANENT FUNDS OF THE ARTS & SCIENCE COUNCIL OF CHARLOTTE/MECKLENBURG AND ITS CULTURAL PARTNERS THROUGH INVESTMENT MANAGEMENT. BY AGGREGATING THE ENDOWMENTS OF ALL CULTURAL ORGANIZATIONS WITH THE ASSETS OF FOUNDATION FOR THE CAROLINAS, THE TRUST PROVIDES COMPETITIVE FEES AND ACCESS TO INVESTMENT MANAGERS AND EXPERTISE. 5213691 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 11 9 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 NC X ALYSSA FEDERICO 7049734500 220 NORTH TRYON ST CHARLOTTE NC 28202 SAM BOWLES CHAIR 0.50 0.00 X X 0 0 0 DOUG BENSON SECRETARY 0.50 50.00 X X 0 220873 37710 STEVE D BOLAND DIRECTOR 0.50 0.00 X 0 0 0 BAKER BURLESON DIRECTOR 0.50 0.00 X 0 0 0 KELLY KATTERHAGEN DIRECTOR 0.50 0.00 X 0 0 0 JOY KENEFICK DIRECTOR 0.50 0.00 X 0 0 0 BRAD KUTROW DIRECTOR 0.50 0.00 X 0 0 0 LUTHER LOCKWOOD DIRECTOR 0.50 0.00 X 0 0 0 RICHARD NICHOLS DIRECTOR 0.50 0.00 X 0 0 0 JACK PURCELL DIRECTOR 0.50 0.00 X 0 0 0 KRISTA TERRELL DIRECTOR 0.50 50.00 X 0 145555 11471 RONALD BRYANT DIRECTOR 0.50 50.00 X 0 21836 2429 0 388264 51610 0 0 1 0 FOUNDATION FOR THE CAROLINAS 220 NORTH TRYON STREET CHARLOTTE NC 28202 ADMINISTRATION FEES 451039 1 2859022 10073 2859022 19 -485 504 106 0 106 106 106 2859147 0 -485 610 4814311 4814311 10000 4564 4735 701 4725 2157 2237 331 541635 247202 256464 37969 311974 142385 147720 21869 6732 3072 3188 472 5689377 5213691 414344 61342 -353324 -173603 2676768 1500000 167000 213044016 186316966 72720 112045 215607180 187755408 0 0 X 123643 9605 215483537 187745803 215607180 187755408 215607180 187755408 X -2830230 -24844774 -176768 X 0 1 X 0 0 X X X 2 FOUNDATION FOR THE CAROLINAS 566047886 7 1 0 0 ARTS & SCIENCE COUNCIL 560693436 7 1 668401 0 2 668401 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 PART IV SECTION A LINE 6 THE TRUST PROVIDES ENDOWMENT SERVICES TO VARIOUS CHARITABLE ORGANIZATIONS WHOSE FUNDS ARE MANAGED BY IT. ENDOWMENT SERVICES INCLUDE ADMINISTERING, INVESTING AND DISTRIBUTING FUNDS TO SUCH MEMBER ORGANIZATIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 202497572 2067935 -24469824 4663642 334914 175097127 159067031 3181579 46110916 5406093 455861 202497572 168319255 3153566 576093 12559376 422507 159067031 166352347 2491515 5835923 5937780 422750 168319255 158071843 329797 14061170 5801567 308896 166352347 0.00000 1.00000 0.00000 0 0 0 DIVERSIFIED LONG-TERM GROWTH POOL 71682513 F ACTIVE LONG-TERM GROWTH POOL 39909486 F PASSIVE DIVERSIFIED GROWTH POOL 9195802 F LIQUID RESERVES 433765 F LOW DURATION FIXED INCOME 5232627 F INCOME & GROWTH POOL 3266985 F BANK LONG-TERM GROWTH (BAC/WFC) POOL 56595788 F 186316966 X PART V, LINE 4: SPENDABLE INCOME FROM ENDOWED FUNDS IS USED ANNUALLY TO PROVIDE SUPPORT TO CULTURAL ORGANIZATIONS. INCOME CAN BE DESIGNATED FOR SPECIFIC PROGRAMS OR PROJECTS, OR CAN BE USED AS GENERAL OPERATING SUPPORT. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE FOUNDATION AND ITS SUPPORTING ORGANIZATIONS ARE EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE IRC. IN ACCORDANCE WITH IRC REGULATIONS, THE FOUNDATION IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE FOUNDATION. THE FOUNDATION ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE FOUNDATION BELIEVES THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE FOUNDATION HAS EVALUATED ALL ITS TAX POSITIONS AND DETERMINED IT HAD NO UNCERTAIN INCOME TAX POSITIONS AS OF DECEMBER 31, 2021 OR 2020. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 546482 0 0 0 0 0 0 546482 0 546482 0 0 1 1 1 0 PART I, LINE 3: THE AMOUNT REPORTED IN PART I FOR INVESTMENTS IS THE ENDING CAPITAL BALANCE PER THE SCHEDULE K-1 RECEIVED FOR THE INVESTMENT APPLICABLE TO THIS FISCAL YEAR. PART III ACCOUNTING METHOD: 1 APPALACHIAN STATE UNIVERSITY PO BOX 32125 BOONE NC 28608 561176030 501(C)(3) 10000 0 ARTS & CULTURE ARTS & SCIENCE COUNCIL 222 S CHURCH STREET 300 CHARLOTTE NC 28202 560693436 501(C)(3) 668401 0 ARTS & CULTURE ARTS 345 NORTH COLLEGE STREET 413 CHARLOTTE NC 28202 591356847 501(C)(3) 7095 0 ARTS & CULTURE BECHTLER MUSEUM OF MODERN ART 420 SOUTH TRYON STREET CHARLOTTE NC 28202 562225722 501(C)(3) 836626 0 ARTS & CULTURE CHARLOTTE BALLET 701 N TRYON STREET CHARLOTTE NC 28202 581314711 501(C)(3) 150932 0 ARTS & CULTURE CHARLOTTE SYMPHONY ORCHESTRA SOCIETY INC 128 S TRYON STREET 350 CHARLOTTE NC 28202 566011568 501(C)(3) 493114 0 ARTS & CULTURE CHILDREN'S THEATRE OF CHARLOTTE 300 EAST 7TH STREET CHARLOTTE NC 282022514 561028031 501(C)(3) 481362 0 ARTS & CULTURE CHOIR SCHOOL AT ST PETER'S INC 115 WEST SEVENTH STREET CHARLOTTE NC 282022127 562271723 501(C)(3) 6975 0 ARTS & CULTURE HARVEY B GANTT CENTER FOR AFRICAN AMERICAN ARTS & CULTURE 551 SOUTH TRYON STREET CHARLOTTE NC 28202 561152286 501(C)(3) 272372 0 ARTS & CULTURE LEVINE MUSEUM OF THE NEW SOUTH 200 E SEVENTH STREET CHARLOTTE NC 28202 561748648 501(C)(3) 327252 0 ARTS & CULTURE MCCOLL CENTER FOR ART INNOVATION 721 NORTH TRYON STREET CHARLOTTE NC 28202 510195015 501(C)(3) 309098 0 ARTS & CULTURE MINT MUSEUM 2730 RANDOLPH ROAD CHARLOTTE NC 28207 560670666 501(C)(3) 854751 0 ARTS & CULTURE NORTH CAROLINA AGRICULTURAL & TECHNICAL STATE UNIVERSITY 1601 E MARKET STREET GREENSBORO NC 27411 566000007 501(C)(3) 10000 0 ARTS & CULTURE NORTH CAROLINA PERFORMING ARTS CENTER FOUNDATION 130 NTRYON STREET CHARLOTTE NC 28202 581791724 501(C)(3) 6277 0 ARTS & CULTURE OPERA CAROLINA 1600 ELIZABETH AVENUE CHARLOTTE NC 28204 566019660 501(C)(3) 22230 0 ARTS & CULTURE POINT PARK UNIVERSITY 201 WOOD STREET PITTSBURGH PA 15222 251094922 501(C)(3) 30000 0 ARTS & CULTURE UNC SCHOOL OF THE ARTS 1533 SOUTH MAIN STREET WINSTONSALEM NC 27127 566065273 501(C)(3) 10000 0 ARTS & CULTURE WESTERN CAROLINA UNIVERSITY 118 KILLIAN ANNEX CULLOWHEE NC 28723 566001440 501(C)(3) 10000 0 ARTS & CULTURE WING HAVEN FOUNDATION INC 248 RIDGEWOOD AVENUE CHARLOTTE NC 28209 561014180 501(C)(3) 245054 0 ARTS & CULTURE 19 0 PART I, LINE 2: THE TRUST ONLY MAKES GRANTS TO ITS SUPPORTING ORGANIZATION, ARTS & SCIENCE COUNCIL ("ASC") AND CULTURAL PARTNERS OF THE ASC. THE CLOSE RELATIONSHIP BETWEEN THE ORGANIZATIONS SERVES TO MONITOR THE USE OF FUNDS. 0 0 0 0 0 0 0 0 0 DOUG BENSON SECRETARY 0 180856 0 37500 0 2517 0 26434 0 11276 0 258583 0 0 KRISTA TERRELL DIRECTOR 0 145555 0 0 0 0 0 11471 0 0 0 157026 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS MADE UP OF ELEVEN MEMBERS. ONE MEMBER IS AN FFTC APPOINTEE AND ONE MEMBER IS AN ASC APPOINTEE. THERE ARE NINE AT-LARGE POSITIONS, FOUR OF WHOM ARE NAMED BY ASC AND FFTC, AND MAY BE SELECTED FROM GCCT FUNDHOLDER NOMINATIONS. THE REMAINING FIVE MEMBERS ARE NAMED BY THE GCCT BOARD, AND MUST BE SELECTED FROM GCCT FUNDHOLDER NOMINATIONS. FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC COPY OF THE FINAL RETURN IS SENT TO EACH VOTING MEMBER PRIOR TO AN UPCOMING BOARD MEETING AND PRIOR TO FILING. THE RETURN IS AVAILABLE FOR DISCUSSION DURING THE BOARD MEETING IF ANY QUESTIONS FROM THE BOARD MEMBERS ARISE. FORM 990, PART VI, SECTION B, LINE 12C THE TRUST ANNUALLY DISTRIBUTES (AT THE FIRST MEETING OF EACH YEAR) ITS CONFLICT OF INTEREST POLICY. THE POLICY REQUIRES EACH BOARD MEMBER, WHETHER NEW OR RETURNING, TO SPECIFY POTENTIAL CONFLICTS OF INTEREST, SUCH AS VENDOR RELATIONSHIPS OR GRANT RECIPIENT RELATIONSHIPS. IN ADDITION, AT EACH BOARD MEETING, BOARD MEMBERS ARE ASKED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST. UPON DISCLOSURE OF A CONFLICT, A BOARD MEMBER MUST CONFORM TO THE TERMS OF THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE TRUST DOES NOT HAVE ANY EMPLOYEES AND THEREFORE DOES NOT HAVE A FORMAL POLICY FOR DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE TRUST'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART XI, LINE 9: PLEDGE WRITE-OFFS -176,768. FOUNDATION FOR THE CAROLINAS 220 N TRYON ST CHARLOTTE NC 28202 566047886 GRANTMAKING NC 501(C)(3) LINE 7 0 ARTS & SCIENCE COUNCIL OF CHARLOTTE-MECKLENBURG 227 WEST TRADE STREET CHARLOTTE CHARLOTTE NC 28202 560693436 CULTURAL COMMUNITY SUPPORT NC 501(C)(3) LINE 7 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 ARTS & SCIENCE COUNCIL B 668401 BOOK FOUNDATION FOR THE CAROLINAS M 311974 BOOK