2024-11-15T11:48:36-06:00 2023-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2023-01-01 456930128 COMMUNITY INVESTMENTS FOUNDATION COMM 7049734500 220 N TRYON STREET CHARLOTTE NC 28202 ALYSSA FEDERICO TREASURER 7049734500 2024-11-13 1 1 MELANIE MCPEAK P01346034 7043771678 2023 2024-10-15 13:58:12Z ALYSSA FEDERICO 220 N TRYON STREET CHARLOTTE NC 28202 19574944 0 X NONE X 2012 FL COMMUNITY INVESTMENTS FOUNDATION (CIF) RECEIVES AND MANAGES GIFTS OF BUSINESS INTERESTS OR OTHER UNIQUE ASSETS, UNTIL THEY CAN BE LIQUIDATED, WITH THE PROCEEDS USED IN SUPPORT OF VARIOUS CHARITABLE ORGANIZATIONS. 4 4 0 4 464063 290393 18623293 17819194 0 0 1388726 674760 477849 470163 20489868 18964117 17547983 24039550 0 0 0 0 0 0 58978 1257502 1508432 18805485 25547982 1684383 -6583865 85159904 77458068 131106 140084 85028798 77317984 COMMUNITY INVESTMENTS FOUNDATION (CIF) RECEIVES AND MANAGES GIFTS OF BUSINESS INTERESTS OR OTHER UNIQUE ASSETS, UNTIL THEY CAN BE LIQUIDATED, WITH THE PROCEEDS USED IN SUPPORT OF VARIOUS CHARITABLE ORGANIZATIONS. 0 0 24713669 24039550 6100 COMMUNITY ENGAGEMENT: EXPENSES RELATED TO FACILITY AND GRANTS TO SUPPORT COMMUNITY SPACE AVAILABLE FOR COLLABORATION AND PLANNING. SPACE IS AVAILABLE TO ALL LOCAL NON-PROFIT ORGANIZATIONS DURING BUSINESS HOURS FOR MEETINGS OF THE NON-PROFITS AND THEIR CONSTITUENCIES. 24713669 1 1 0 0 0 0 0 0 0 1 1 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 1 1 0 0 0 0 0 X 4 4 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 0 0 0 CA IN SC WI NC GA MD MN X ALYSSA FEDERICO 7049734500 220 N TRYON STREET CHARLOTTE NC 28202 TODD W MANSFIELD CHAIR 0.30 0.00 X X 0 0 0 KIETH COCKRELL DIRECTOR 0.30 0.00 X 0 0 0 CHRIS POPLIN DIRECTOR 0.30 0.00 X 0 0 0 MARIAN STEELE CLARK DIRECTOR 0.30 0.00 X 0 0 0 MICHAEL MARSICANO PRESIDENT & CEO 5.00 50.00 X 0 951490 6680 LAURA SMITH EXECUTIVE VP 5.00 50.00 X 0 771548 76494 NIKHIL SAWANT EXECUTIVE VP & CIO 5.00 50.00 X 0 333554 68749 DOUGLAS W BENSON SENIOR VP & GENERAL COUNSEL 5.00 50.00 X 0 375935 46391 ALYSSA FEDERICO SENIOR VP, FINANCE 5.00 50.00 X 0 337555 47013 ELIZABETH KISER SENIOR VP, PHILANTHROPIC ADVANCEMENT 5.00 50.00 X 0 215547 57648 EVAN WOLKOFSKY ASSISTANT DEPUTY COUNSEL 5.00 50.00 X 0 162126 47582 ROBIN BAREFOOT ASSOCIATE COUNSEL 5.00 50.00 X 0 135485 43372 0 3283240 393929 0 0 1 0 FOUNDATION FOR THE CAROLINAS 220 NORTH TRYON STREET CHARLOTTE NC 28202 ADMINISTRATIVE FEES 484980 1 150000 17669194 17669194 17819194 1130834 1130834 403106 106060 297046 297046 6100 290946 456074 -456074 -456074 -456074 204058 48693 155365 155365 FACILITY AND EVENT INCOME 812900 17752 17752 17752 18964117 6100 464063 674760 24039550 24039550 700 313 360 27 27859 12450 14320 1089 484980 216738 249280 18962 13183 5892 6776 515 2317 1035 1191 91 427637 191111 219805 16721 EVENT EXPENSES 400000 178760 205600 15640 UBI TAX EXPENSE 137136 61286 70488 5362 EQUIPMENT EXPENSE 7861 3513 4041 307 DUES & SUBSCRIPTIONS 5403 2415 2777 211 1356 606 697 53 25547982 24713669 775335 58978 3745066 1812937 60000 20000 468476 349657 1291152 1291152 43636 20440 19475260 4572939 14590290 14902321 36821930 17843400 28139354 41218161 85159904 77458068 131106 140084 131106 140084 X 16014567 15673066 69014231 61644918 85028798 77317984 85159904 77458068 -6583865 -1126949 0 X 0 1 X 0 0 X X X 1 FOUNDATION FOR THE CAROLINAS 566047886 7 1 15141325 0 1 15141325 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 PART IV, SECTION A, QUESTION 6: THE FOUNDATION PROVIDED GRANTS THIS YEAR TO OTHER PUBLIC CHARITIES IN FURTHERANCE OF ITS MISSION TO SUPPORT THE FOUNDATION FOR THE CAROLINAS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1081186 1078995 2191 1091881 10695 1081186 1069892 32626 10637 1091881 1104242 23695 10655 1069892 1133492 21660 40015 10895 1104242 0.00000 0.00000 0.00000 0 0 3232800 3232800 16159819 4507989 11651830 82641 64950 17691 14902321 17843400 C 17843400 PARTNERSHIP INTERESTS 41218161 41218161 X PART V, LINE 4: SPENDABLE INCOME FROM ENDOWED FUNDS IS USED ANNUALLY TO PROVIDE SUPPORT TO FOUNDATION FOR THE CAROLINAS. INCOME CAN BE DESIGNATED FOR SPECIFIC PROGRAMS OR PROJECTS, OR CAN BE USED FOR GENERAL OPERATING SUPPORT. DURING 2023, ALL ENDOWMENT FUNDS (SAVE FOR A FEW ADMINISTRATIVE EXPENSES) WERE GRANTED TO THE FOUNDATION FOR THE CAROLINAS, LEAVING NO MORE ENDOWMENT FUNDS CONTROLLED BY THE ORGANIZATION AT THE END OF THE YEAR. 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, 2023 OR 2022. 1 FOUNDATION FOR THE CAROLINAS 220 NORTH TRYON STREET CHARLOTTE NC 28202 566047886 501(C)(3) 15141325 0 GRANTMAKING FOUNDATION FOR THE CHARLOTTE JEWISH COMMUNITY 220 NORTH TRYON STREET CHARLOTTE NC 28202 311501858 501(C)(3) 8871030 0 GRANTMAKING VANGUARD CHARITABLE ENDOWMENT PROGRAM PO BOX 9509 WARWICK RI 028899509 232888152 501(C)(3) 18060 0 CHARITABLE GIFT 3 0 PART I, LINE 2: THE FOUNDATION TYPICALLY ONLY MAKES GRANTS TO ITS SUPPORTED ORGANIZATION. THE CLOSE RELATIONSHIP BETWEEN THE ORGANIZATIONS SERVES TO MONITOR THE USE OF THE GRANT FUNDS. 0 0 0 0 0 0 0 0 0 MICHAEL MARSICANO PRESIDENT & CEO 0 14649 0 500000 0 436841 0 5504 0 1176 0 958170 0 0 LAURA SMITH EXECUTIVE VP 0 566004 0 200000 0 5544 0 59400 0 17094 0 848042 0 0 DOUGLAS W BENSON SENIOR VP & GENERAL COUNSEL 0 247558 0 127150 0 1227 0 34680 0 11711 0 422326 0 0 NIKHIL SAWANT EXECUTIVE VP & CIO 0 299942 0 30000 0 3612 0 43500 0 25249 0 402303 0 0 ALYSSA FEDERICO SENIOR VP, FINANCE 0 219520 0 117000 0 1035 0 43500 0 3513 0 384568 0 0 ELIZABETH KISER SENIOR VP, PHILANTHROPIC ADVANCEMENT 0 194512 0 20000 0 1035 0 39600 0 18048 0 273195 0 0 EVAN WOLKOFSKY ASSISTANT DEPUTY COUNSEL 0 153707 0 7250 0 1169 0 30105 0 17477 0 209708 0 0 ROBIN BAREFOOT ASSOCIATE COUNSEL 0 127127 0 5000 0 3358 0 24660 0 18712 0 178857 0 0 PART I, LINE 3 FOUNDATION FOR THE CAROLINAS (SUPPORTED ORGANIZATION) UTILIZES A COMPENSATION COMMITTEE TO REVIEW EXECUTIVE COMPENSATION ON AN ANNUAL BASIS. AN INDEPENDENT CONSULTANT REVIEWS ALL EMPLOYEE POSITIONS, USING COMPENSATION SURVEYS AND OTHER RELEVANT DATA TO PROVIDE RECOMMENDED SALARY RANGES FOR EACH POSITION, INCLUDING EXECUTIVE POSITIONS. DATA PROVIDED BY THE INDEPENDENT CONSULTANT IS REVIEWED BY THE COMPENSATION COMMITTEE AS PART OF THE APPROVAL PROCESS. X 4 8389753 FMV X 3 9279441 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 7A UNDER THE FOUNDATION'S TRUST AGREEMENT, THE TRUSTEE (CURRENTLY COMMUNITY REAL PROPERTY HOLDINGS) APPOINTS OFFICERS OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FINAL FORM 990, WITHOUT SCHEDULE B ATTACHED, IS DISTRIBUTED TO EACH VOTING MEMBER OF THE BOARD PRIOR TO FILING. THE RETURN IS DISCUSSED AT THE NEXT BOARD MEETING CLOSEST TO THE FILING DATE. THE BOARD BELIEVES THE REDACTION OF SCHEDULE B PRIOR TO REVIEW IS APPROPRIATE, IN ORDER TO PROTECT THE CONFIDENTIALITY OF THE FOUNDATION'S DONORS. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY, IN COMPLIANCE WITH NATIONAL STANDARDS FOR COMMUNITY FOUNDATIONS AND UNDER FOUNDATION FOR THE CAROLINAS (SUPPORTED ORGANIZATION) ETHICS POLICY, IS DISTRIBUTED ANNUALLY TO ALL BOARD MEMBERS. 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 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 CIF DOES NOT HAVE ANY EMPLOYEES AND THEREFORE DOES NOT HAVE A FORMAL POLICY FOR DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 CIF MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CIF HOLDINGS LLC 220 NORTH TRYON STREET CHARLOTTE NC 28202 455600232 ASSET MGMT NC 0 0 COMMUNITY INVESTMENTS FOUNDATION 220 NORTH TRYON LLC 220 NORTH TRYON STREET CHARLOTTE NC 28202 455391918 ASSET MGMT NC 150000 14848728 COMMUNITY INVESTMENTS FOUNDATION FOUNDATION FOR THE CAROLINAS 220 NORTH TRYON STREET CHARLOTTE NC 28202 566047886 GRANTMAKING NC 501(C)(3) LINE 7 N/A 0 FOUNDATION FOR THE CHARLOTTE JEWISH COMMUNITY 220 NORTH TRYON STREET CHARLOTTE NC 28202 311501858 GRANTMAKING NC 501(C)(3) LINE 12A, I FOUNDATION FOR THE CAROLINAS 0 THE JA TURNER FAMILY FOUNDATION 220 NORTH TRYON STREET CHARLOTTE NC 28202 562162208 GRANTMAKING NC 501(C)(3) LINE 12A, I FOUNDATION FOR THE CAROLINAS 0 COMMUNITY REAL PROPERTY HOLDINGS INC 220 NORTH TRYON STREET CHARLOTTE NC 28202 455258321 GRANTMAKING NC 501(C)(3) LINE 12A, I FOUNDATION FOR THE CAROLINAS 0 SEYMOUR FOUNDATION 220 NORTH TRYON STREET CHARLOTTE NC 28202 813099131 GRANTMAKING NC 501(C)(3) LINE 12A, I FOUNDATION FOR THE CAROLINAS 0 E4E RELIEF LLC 220 NORTH TRYON STREET CHARLOTTE NC 28202 873137387 GRANTMAKING NC 501(C)(3) LINE 7 FOUNDATION FOR THE CAROLINAS 0 GREATER CHARLOTTE FOUNDATION 220 NORTH TRYON STREET CHARLOTTE NC 28202 561530358 GRANTMAKING NC 501(C)(3) LINE 12A, I FOUNDATION FOR THE CAROLINAS 0 FFTC PARTNERS FOR EMPOWERING COMMUNITIES 220 NORTH TRYON STREET CHARLOTTE NC 28202 922022464 GRANTMAKING NC 501(C)(3) LINE 12A, I FOUNDATION FOR THE CAROLINAS 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0