2020-11-13T14:01:05-06:00 2019-12-31 560747981 DIXON HUGHES GOODMAN LLP 1829 EASTCHESTER DRIVE HIGH POINT NC 27265 990 2019-01-01 510168751 POLK COUNTY COMMUNITY FOUNDATION INC POLK 8288595314 255 SOUTH TRADE STREET TRYON NC 28782 A THOMAS JACKSON BOARD CHAIR 8288595314 2020-11-13 1 DAVID VOGLER P00187735 3368895156 2020-11-12 173.94.49.102 2020-11-13 08:27:24 ES P 2EA4226D51C479F73C8AA3734B8C4AE774227CF2 BB4A6C10DAC646745C5A9D585DB407C75395EBF7 2019 2021-01-29 14:40:06Z A THOMAS JACKSON 255 SOUTH TRADE STREET TRYON NC 28782 6353399 0 X WWW.POLKCCF.ORG X 1975 NC TO ADMINISTER FUNDS ENTRUSTED TO IT TO SUPPORT CHARITABLE, CULTURAL, EDUCATIONAL AND PUBLICLY BENEFICIAL CHARITABLE ACTIVITIES IN THE COMMUNITY CENTERED IN AND AROUND POLK COUNTY, N.C. 9 9 5 42 0 0 3088871 356668 0 0 1070553 1778636 246447 239609 4405871 2374913 1556940 1526575 0 0 576094 561501 0 0 74303 137242 142960 2270276 2231036 2135595 143877 46311822 55699137 1902911 3958671 44408911 51740466 X TO ADMINISTER FUNDS ENTRUSTED TO IT 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). 0 0 1789767 1526575 2018245 THE COMMUNITY FOUNDATION IMPROVED THE QUALITY OF LIFE IN THE AREA CENTERED IN AND AROUND POLK COUNTY, N.C. BY AWARDING GRANTS FROM UNRESTRICTED FUNDS TO SUPPORT THE WORTHWHILE PROJECTS OF LOCAL NONPROFIT ORGANIZATIONS, GIVING VOCATIONAL AND COLLEGE SCHOLARSHIPS TO LOCAL STUDENTS, DISTRIBUTING ENDOWMENT FUND INCOME IN ACCORDANCE WITH GUIDELINES ESTABLISHED BY DONORS OR NONPROFITS AND MEMORIALIZED IN FUND AGREEMENTS, ADMINISTERING PLANNED GIVING PROGRAMS, PROVIDING A LIBRARY OF RESOURCES AND MEETING SPACES FOR NONPROFITS AND HELPING LOCAL NONPROFIT ORGANIZATIONS AND DONORS MEET THEIR CHARITABLE GOALS. THE FOUNDATION ADMINISTERS OVER 200 CHARITABLE FUNDS. 1789767 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 6 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X ELIZABETH NAGER 8288595314 255 S TRADE STREET TRYON NC 28782 X A THOMAS JACKSON CHAIR 1.00 X X 0 0 0 PHILIP H BURRUS III VICE CHAIR 1.00 X X 0 0 0 DR NORMA W BATCHELDER TREASURER 1.00 X X 0 0 0 DR FAITH WEATHINGTON SECRETARY 1.00 X X 0 0 0 SHERRY M CARTER DIRECTOR 1.00 X 0 0 0 CAROL E JACKSON DIRECTOR 1.00 X 0 0 0 MONICA E JONES DIRECTOR 1.00 X 0 0 0 MARTHA LOVE DIRECTOR 1.00 X 0 0 0 DALE L MCENTIRE DIRECTOR 1.00 X 0 0 0 ELIZABETH NAGER PRESIDENT & CEO 50.00 X 280413 0 56000 280413 0 56000 1 0 1 0 0 356668 15297 356668 1264985 1264985 4492137 3978486 513651 513651 513651 OTHER INCOME 561000 239609 239609 239609 2374913 2018245 0 0 1289194 1289194 237381 237381 280413 112165 112165 56083 166461 83394 79917 3150 89529 39774 37925 11830 25098 11330 11063 2705 1412 1412 19179 19179 21342 21342 40869 40869 24208 16529 7144 535 18858 18858 17092 17092 2231036 1789767 366966 74303 200 200 556728 351575 178 417342 815559 471797 362620 343762 45392096 54586258 46311822 55699137 25483 2771 1877428 0 0 3955900 1902911 3958671 X 14236543 25250753 30172368 26489713 44408911 51740466 46311822 55699137 X 143877 6435601 -2197 754274 X 0 1 X 1 0 X 1788977 950675 2080491 3088871 356668 8265682 1788977 950675 2080491 3088871 356668 8265682 2900985 5364697 816944 850056 947377 1029056 1264985 4908418 13174100 0.40720 0.52410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14 65497 76817 748657 1 1 1 2126902 413364 172207 2368059 0 10698090 10698090 10698090 10698090 10698090 10698090 10698090 10698090 10698090 10698090 1.00000 0 1 1 603614 266808 336806 141780 137438 4342 70165 67551 2614 343762 MUTUAL FUNDS 54586258 F 54586258 DUE TO OTHER ORGANIZATIONS 2306017 TRUST LIABILITY 1649883 3955900 X 9093584 6435601 681293 7116894 1976690 398223 398223 2374913 1706451 5167 5167 1701284 529752 529752 2231036 PART IV, LINE 1B: THE ORGANIZATION IS TRUSTEE TO SEVERAL CHARITABLE REMAINDER TRUSTS IN WHICH IT IS NOT NAMED AS AN IRREVOCABLE BENEFICIARY. EACH TRUST HAS FILED FORM 1041 FOR THE YEAR. PART V, LINE 4: TO GIVE GRANTS IN POLK COUNTY, NC FOR CHARITABLE, EDUCATIONAL, MEDICAL AND COMMUNITY BENEFIT PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) AND 170(C)(2) OF THE INTERNAL REVENUE CODE OF 1986 AND SUPPORT THE POLK COUNTY COMMUNITY FOUNDATION. PART X, LINE 2: THE FOUNDATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A CHARITABLE ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST 681,293. PART XI, LINE 4B - OTHER ADJUSTMENTS: AGENCY FUNDS REVENUE NOT INCLUDED WITH AUDIT 398,223. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM CHARITABLE REMAINDER TRUST AND OTHER TRUSTS REPORTED ON TRUST 5,167. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES FOR AGENCY FUNDS NOT ON FINANCIAL STATEMENTS 108,585. GRANTS ON TAX RETURN NOT ON BOOKS 421,167. 1 UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL 103 SOUTH BUILDING CAMPUS BOX 9100 CHAPEL HILL NC 27599 566001393 501 (C) (3) 20000 COLLEGE ADVISOR AT POLK COUNTY HIGH SCHOOL FOR 2019/2020 SCHOOL YEAR CHILDREN'S THEATER FESTIVAL 34 MELROSE AVENUE TRYON NC 28782 271131837 501 (C) (3) 17450 SUPER SATURDAY FESTIVAL SUPPORT DISTRICT 1 SCHOOLS PO BOX 218 CAMPOBELLO SC 29322 570687554 GOVERNMENT 20000 KESSLER CULTURAL EVENINGS & ARTISTS IN RESIDENCE FENCE 3381 HUNTING COUNTRY ROAD TRYON NC 28782 581596812 501 (C) (3) 102387 SUPPORT PROGRAMS AND FREE PARK LANIER LIBRARY ASSOCIATION 72 CHESTNUT STREET TRYON NC 28782 560582029 501 (C) (3) 36465 LIBRARY ENHANCEMENTS AND PROGRAMS POLK COUNTY GOVERNMENT PO BOX 308 COLUMBUS NC 28722 566000333 GOVERNMENT 27740 STUDENT INTERN AT LIBRARY; AMERICORPS TRAILS COORDINATOR AT RECREATION DEPARTMENT; NEW CHILDREN'S BOOKS FOR LIBRARY POLK COUNTY SCHOOLS PO BOX 638 COLUMBUS NC 28722 566001098 GOVERNMENT 113464 FREE BAND, TEACHER EDUCATION AND YOUTH PROGRAMS POLK FIT FRESH AND FRIENDLY 161 WALKER STREET COLUMBUS NC 28722 471974662 501 (C) (3) 5636 EDUCATIONAL PROGRAMS ROSELAND COMMUNITY CENTER PO BOX 83 TRYON NC 28782 560993404 501 (C) (3) 12600 CAPITAL PROJECTS AND PROGRAMS SALUDA COMMUNITY LAND TRUST INC PO BOX 732 SALUDA NC 28722 208869652 501 (C) (3) 27667 SUPPORT FOR LAND CONSERVATION & PARKS SALUDA HISTORIC DEPOT PO BOX 990 SALUDA NC 28773 473440546 501 (C) (3) 16290 CAPITAL PROJECTS AND PROGRAMS CITY OF SALUDA PO BOX 248 SALUDA NC 28773 566000238 501 (C) (3) 19907 COMMUNITY PROGRAMS AND PARK SUNNY VIEW CLUB HOUSE 100 GERALD GIBBS ROAD MILL SPRING NC 28756 900933214 501 (C) (3) 33000 CAPITAL PROJECTS, COMMUNITY CENTER AND FREE PROGRAMS THERMAL BELT FRIENDSHIP COUNCIL PO BOX 414 LYNN NC 28750 571163800 501 (C) (3) 8250 SUPPORT FOR FREE EVENTS INCLUDING MARTIN LUTHER KING DAY THERMAL BELT OUTREACH MINISTRY INC PO BOX 834 COLUMBUS NC 28722 561793796 501 (C) (3) 59019 FOOD AND HOUSING ASSISTANCE TRYON ARTS AND CRAFTS INC 373 HARMON FIELD ROAD TRYON NC 28782 560946889 501 (C) (3) 159550 CAPITAL PROJECTS AND FREE PROGRAMS TRYON CONCERT ASSOCIATION PO BOX 32 TRYON NC 28782 300356647 501 (C) (3) 8300 GENERAL SUPPORT TRYON DOWNTOWN DEVELOPMENT ASSOCIATION PO BOX 182 TRYON NC 28782 311682144 501 (C) (3) 47760 TO ENHANCE TRYON'S APPEAL; FREE CIVIC EVENTS TRYON FINE ARTS CENTER 34 MELROSE AVENUE TRYON NC 28782 566086694 501 (C) (3) 165987 CAPITAL IMPROVEMENTS AND ART PROGRAMS TRYON GARDEN CLUB INC PO BOX 245 TRYON NC 28782 560850156 501 (C) (3) 10838 PEARSON'S FALLS AND PARK AREA TRYON LITTLE THEATRE INC PO BOX 654 TRYON NC 28782 566061468 501 (C) (3) 50861 SUNNYDALE THEATRE CAPITAL NEEDS AND FREE YOUTH PLAY TRYON PAINTERS & SCULPTORS PO BOX 384 TRYON NC 28782 237057270 501 (C) (3) 32751 FREE ART CLASSES UNITY IN THE COMMUNITY 5620 PEA RIDGE ROAD RUTHERFORDTON NC 28139 611765021 501 (C) (3) 67500 FREE COMMUNITY EVENTS FOR YOUTH AND ADULTS UPSTAIRS ARTSPACE PO BOX 553 TRYON NC 28782 581379476 501 (C) (3) 29625 FREE ART SHOWS AND ARTIST TALKS CONGREGATIONAL CHURCH OF TRYON PO BOX 1367 TRYON NC 28782 560611574 CHURCH 5000 DONOR ADVISED FUND GRANTS FOR OPERATING SUPPORT/FAMILY TEAM BUILDING EPISCOPAL CHURCH OF THE HOLY CROSS 150 MELROSE AVENUE TRYON NC 28782 560559095 CHURCH 86200 DONOR ADVISED FUND GRANTS AND ENDOWMENT FUND PAYOUTS FOOTHILLS HUMANE SOCIETY INC 989 LITTLE MOUNTAIN ROAD COLUMBUS NC 28722 581413121 501 (C) (3) 11500 ANIMAL SHELTER GENERAL OPERATING EXPENSES ROTARY CLUB OF TRYON FOUNDATION PO BOX 923 TRYON NC 28782 223832590 501 (C) (3) 11180 GRANT FROM ROTARY'S ENDOWMENT SCHOLARSHIP FUND ST LUKE'S HOSPITAL FOUNDATION 89 WEST MILLS STREET SUITE B COLUMBUS NC 28722 561757097 501 (C) (3) 6000 GENERAL OPERATING EXPENSES STEPS TO HOPE INC PO BOX 518 COLUMBUS NC 28722 561484890 501 (C) (3) 10070 DOMESTIC VIOLENCE PREVENTION TRYON PRESBYTERIAN CHURCH 430 HARMON FIELD ROAD TRYON NC 28782 560746008 CHURCH 12000 DONOR ADVISED FUND GRANTS AND ENDOWMENT FUND PAYOUTS SCHOLARSHIPS 91 237381 SCHOLARSHIPS FOR HIGH SCHOOL SENIORS; ADULT BACK TO SCHOOL PART I, LINE 2: COMPETITIVE GRANT AWARDS: WRITTEN GRANT APPLICATIONS ARE SUBMITTED TO A FOUNDATION COMMITTEE COMPOSED OF COMMUNITY VOLUNTEERS WHO SERVE 3 YEAR TERMS. THE COMMITTEE REVIEWS DETAILED FINANCIAL AND MANAGEMENT INFORMATION AND CONDUCTS INTERVIEWS TO FULLY UNDERSTAND THE PROPOSED PROJECT AND APPLICANT. GRANT REPORTS ARE REQUIRED. GRANTS ARE MADE TO LOCAL 501(C)(3) ORGANIZATIONS AND UNITS OF GOVERNMENT. GRANT COMMITTEES SUBMIT THEIR RECOMMENDATIONS TO THE BOARD WHICH PROVIDES OVERSIGHT, CHECKS FOR CONFLICTS AND APPROVES GRANTS. NON-COMPETITIVE GRANT AWARDS AND DONOR ADVISED FUND GRANTS: THESE GRANTS ARE MADE TO 501(C)(3) ORGANIZATIONS, CHURCHES AND UNITS OF GOVERNMENT. INFORMATION REGARDING ALL NEW RECIPIENTS OF DONOR ADVISED FUND GRANTS IS EXAMINED BY A COMMITTEE AND THEN THE BOARD VOTES ON THE COMMITTEE'S RECOMMENDATION. THE BOARD ANNUALLY REVIEWS AND RATIFIES ALL DONOR ADVISED FUND GRANTS. DONORS AND CHARITABLE RECIPIENTS CONFIRM THAT THE DONORS DO NOT RECEIVE ANY PERSONAL BENEFITS FROM DONOR ADVISED FUND GRANTS AND THE GRANTS ARE NOT TO SATISFY PLEDGES. CONFIRMATION OF STATUS: WE KEEP ON FILE THE IRS DETERMINATION / 501(C)(3) LETTERS FROM ALL ORGANIZATIONS RECEIVING GRANTS AND CHECK THE IRS WEBSITE FOR UPDATES BEFORE DISBURSING GRANTS. X X X X X 0 0 0 0 0 0 0 0 0 ELIZABETH NAGER PRESIDENT & CEO 255413 0 25000 0 0 0 56000 0 0 0 336413 0 0 0 PART II CEO IS EXPECTED TO PURCHASE HEALTH INSURANCE WITH HER TAXABLE INCOME. FORM 990, PART VI, SECTION B, LINE 11B KEY QUESTIONS REGARDING CONFLICTS DISCUSSED AT BOARD MEETING PRIOR TO PREPARATION OF FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE NOMINATING COMMITTEE AND THE BOARD OF DIRECTORS DO NOT ALLOW ANY VOLUNTEERS WHO HAVE IMPERMISSIBLE CONFLICTS OF INTEREST TO SERVE THE BRADLEY ENDOWMENT FUND. POSSIBLE CONFLICTS OF INTEREST ARE DISCUSSED REGULARLY AT FULL BOARD MEETINGS AND NOTED IN THE MINUTES. THE SECRETARY, WHO PREPARES THE MINUTES AND ATTENDS ALL BOARD MEETINGS, KEEPS A RUNNING LIST OF ALL POTENTIAL CONFLICTS SO THESE CONFLICTS ARE RAISED AT THE APPROPRIATE TIMES BEFORE VOTING. ALL BOARD MEMBERS ARE AWARE OF THE POTENTIAL HARM OF ANY APPEARANCE OF IMPROPRIETY AND ALL DILIGENTLY SEEK TO MAKE SURE THAT THEIR OWN ACTIONS AND THE ACTIONS OF ALL OTHERS IN POSITIONS OF POTENTIAL POWER ARE BEYOND REPROACH. COMMITTEE MEMBERS WHO MAKE GRANT RECOMMENDATIONS TO THE BOARD FOR ITS APPROVAL ARE NOT PERMITTED TO PARTICIPATE IN THE PROCESS IF THEY HAVE CONFLICTS. CONFLICT CHECKS ARE ROUTINE AND TEST FOR BOTH ACTUAL AND THE APPEARANCE OF CONFLICTS. WRITTEN AND SIGNED CONFLICT OF INTEREST FORMS ARE REQUIRED FROM EVERY BOARD AND COMMITTEE MEMBER. FORM 990, PART VI, SECTION B, LINE 15A IN THE YEAR PRIOR TO ANY CHANGES IN COMPENSATION, THE COMPENSATION COMMITTEE MEETS AND REVIEWS COMPARABLE DATA SUCH AS THE CONSUMER PRICE INDEX FOR INFLATION, CURRENT SURVEYS PUBLISHED BY THE COUNCIL ON FOUNDATIONS DETAILING SALARIES AND RAISES, FORM 990S FROM COMMUNITY FOUNDATIONS IN OUR AREA AND THE RESUME AND QUALIFICATIONS OF THE PRESIDENT AND CEO (MAGNA CUM LAUDE GRADUATE OF DUKE UNIVERSITY, LAW DEGREE FROM UCLA LAW SCHOOL IN LOS ANGELES, CA, YEARS OF CORPORATE LAW EXPERIENCE AND MANY YEARS EXPERIENCE LEADING A COMMUNITY FOUNDATION). THE COMPENSATION COMMITTEE REPORTS TO THE BOARD AND THE BOARD MAKES THE FINAL DECISIONS. ALL PAID STAFF MEMBERS LEAVE THE BOARDROOM FOR THIS PROCESS. THERE ARE NO RELATIVES OF THE PAID STAFF ON THE BOARD. THE BOARD ANNUALLY APPROVES BENEFITS WHICH ARE DESCRIBED IN THE PERSONNEL MANUAL. THE BUDGETED AND ACTUAL NUMBERS FOR PERSONNEL EXPENSES ARE DISTRIBUTED TO THE BOARD AS PART OF THE ADMINISTRATIVE BUDGET AT EVERY MEETING. CEO IS EXPECTED TO PURCHASE HEALTH INSURANCE WITH HER TAXABLE INCOME. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS INCLUDING THE FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST DURING THE NORMAL BUSINESS HOURS OF 9:00 - 4:00 MONDAY - THURSDAY AND 9:00 - 12:00 FRIDAY AT THE OFFICE OF THE POLK COUNTY COMMUNITY FOUNDATION, LOCATED AT 255 SOUTH TRADE STREET, TRYON, N.C. FORM 990, PART VII, SECTION A, LINE 1A: CEO IS EXPECTED TO PURCHASE HEALTH INSURANCE WITH HER TAXABLE INCOME. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST 681,293. AGENCY FUNDS -289,638. EXPENSES FROM CRT AND OTHER TRUSTS REPORTED ON TRUST RETURN -5,167. ADJUSTMENT TO GRANT EXPENSE -53,381. GRANTS ON TAX RETURN NOT ON BOOKS 421,167. MARJORIE M AND LAWRENCE R BRADLEY ENDOWMENT FUND OF POLK COUNTY NC 255 SOUTH TRADE STREET TRYON NC 28782 202953427 SUPPORT ORGANIZATION NC 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 MARJORIE M AND LAWRENCE R BRADLEY ENDOWMENT S 222532 PERCENTAGE FEE FOR MANAGEMENT MARJORIE M AND LAWRENCE R BRADLEY ENDOWMENT N 0 MARJORIE M AND LAWRENCE R BRADLEY ENDOWMENT L 0