Winston-Salem Foundation in Winston Salem, North Carolina (NC)

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Winston-Salem Foundation
Employer Identification Number (EIN)566037615
Name of OrganizationWinston-Salem Foundation
In Care of NameWells Fargo Bank Na
Address860 W 5th St, Winston Salem, NC 27101-2506
ActivitiesCommunity Chest, United Way, etc., Other health services, Other school related activities
SubsectionCharitable Organization
Ruling Date07/1946
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$242,067,009
Amount of Income$135,963,479
Form 990 Revenue Amount$46,345,768
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations

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Amount of income in 2011: $135,963,479
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Assets in 2011: $242,067,009
Winston-Salem Foundation: 

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Expenses in 2007: $34,007,634
This organization: 

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Income to expenses ratio in 2007: 1.3
This organization: 

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Expenses allocated to program services in 2007: 92.7%
Winston-Salem Foundation: 

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Number of employees in 2007: 19
This organization: 

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Employees paid over $50,000 in 2007: 47.4%
Winston-Salem Foundation: 

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Grants share in income in 2007: 40.0%
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Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$46,620,122$19,041,193$2,418,725$14,981,928$25,659,765$65,168,094$36,994,940$43,399,435
Contributions, gifts, grants, and similar amounts received$29,615,561$18,942,179$10,756,464$13,255,308$21,227,323$52,722,802$24,675,282$17,367,047
Contributions to donor advised funds$12,609,869$13,093,774
Direct public support$29,615,561$18,942,179$10,756,464$13,255,308$21,227,323$52,722,802$12,065,413$4,273,273
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$45,957$46,471$36,930$36,997$36,022$36,947$33,332$33,229
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$1,011,400$807,204$316,187$157,982$116,918$301,717$1,004,303$402,539
Dividends and interest from securities$6,791,743$5,772,438$4,512,264$3,939,099$3,425,092$4,908,622$8,209,109$9,465,965
Net rental income or (loss)$-5,455$-3,124$1,223$0$0$0$0$0
Gross rents$8,400$9,600$1,223$0$0$0$0$0
Less: rental expenses$13,855$12,724$0$0$0$0$0$0
Other investment income$8,241$9,703$9,513$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$9,118,310$-6,560,763$-13,245,142$-2,416,977$827,275$7,192,158$3,060,896$16,118,579
Gross amount from sales of assets other than inventory$60,059,806$43,096,139$82,514,966$113,182,602$49,088,890$122,438,872$49,314,173$114,139,626
Less: cost or other basis and sales expenses$50,941,496$49,656,902$95,760,108$115,599,579$48,261,615$115,246,714$46,253,277$98,021,047
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$34,365$27,085$31,286$9,519$27,135$5,848$12,018$12,076
Total expenses$16,544,538$20,602,387$20,442,710$17,730,369$20,392,306$23,070,699$33,509,871$34,007,634
Program services$14,948,301$18,874,895$18,771,976$16,069,408$18,558,654$21,144,424$31,333,389$31,522,508
Management and general$1,261,582$1,364,636$1,379,981$1,335,577$1,276,149$1,360,498$1,530,409$1,799,868
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$192,870,527$179,931,453$152,968,467$160,694,880$174,611,561$214,998,427$226,921,871$242,003,277
Excess or (deficit) for the year$30,075,584$-1,561,194$-18,023,985$-2,748,441$5,267,459$42,097,395$3,485,069$9,391,801
Net assets or fund balances at beginning of year$180,580,848$192,870,527$179,931,453$152,968,467$160,694,880$174,611,561$214,998,427$226,921,871
Other changes in net assets or fund balances$-17,785,905$-11,377,880$-8,939,001$10,474,854$8,649,222$-1,710,529$8,438,375$5,689,605
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$34,007,634$31,522,508$1,799,868$685,258
Grants paid from donor advised funds$20,800,320
Other grants and allocations$9,936,826
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$633,302$166,075$254,151$213,076
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$838,441$389,849$269,528$179,064
Pension plan contributions not included above$62,245$30,423$20,349$11,473
Employee benefits not included above$106,500$47,087$34,076$25,337
Payroll taxes$100,061$40,757$34,238$25,066
Professional fundraising fees$0$0$0$0
Accounting fees$29,930$0$29,930$0
Legal fees$29,587$0$29,587$0
Postage and shipping$34,911$6,374$20,400$8,137
Equipment rental and maintenance$15,463$2,862$10,615$1,986
Printing and publications$101,162$7,864$90,092$3,206
Conferences, conventions, and meetings$156,652$54,116$79,599$22,937
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$1,077,091$11,483$889,334$176,274
Balance Sheets
Total assets$192,885,819$179,938,414$153,539,285$173,763,906$189,205,183$233,144,274$244,886,253$247,706,330
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$21,211,218$21,102,625$14,873,189$46,179,565$16,598,596$60,783,552$17,775,890$16,579,836
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$38,321$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$20,033$20,033$20,033$20,033$20,033
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$1,046,059$1,044,093$1,211,812$881,377$849,734$833,662$842,071$977,448
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$167,102,217$169,627,123
Investments - other securities$151,179,622$138,713,972$119,767,380$107,550,286$152,052,042$151,954,707$39,015,059$41,099,116
Investments - land, buildings, and equipment less accumulated depreciation$5,675,194$5,847,694$5,450,137$5,450,138$5,450,138$5,450,138$5,260,138$4,133,212
Investments - other$12,660,941$12,049,752$10,933,102$12,618,386$13,188,887$13,093,966$13,827,957$14,213,158
Land, buildings, and equipment less accumulated depreciation$968,676$1,018,658$1,022,164$1,008,684$1,004,785$984,862$1,024,525$1,022,729
Other assets, including program-related investments$144,109$161,620$281,501$17,116$40,968$23,354$18,363$33,675
Total liabilities$15,292$6,961$570,818$13,069,026$14,593,622$18,145,847$17,964,382$5,703,053
Accounts payable and accrued expenses$201$2,059$3,063$0$3,895$5,292$6,330$4,547
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$15,091$4,902$567,755$13,069,026$14,589,727$18,140,555$17,958,052$5,698,506
Total liabilities and net assets/fund balances$192,885,819$179,938,414$153,539,285$173,763,906$189,205,183$233,144,274$244,886,253$247,706,330
Total net assets or fund balances$192,870,527$179,931,453$152,968,467$160,694,880$174,611,561$214,998,427$226,921,871$242,003,277
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue$46,620,122$19,041,193$2,418,725$14,981,928$25,659,765$65,168,094$36,994,940$43,399,435
Total revenue, gains, and other support per audited financial statements$28,373,891$6,954,669$-5,884,118$33,275,474$33,690,858$63,315,724$45,068,860$35,563,509
Other expenses$-17,785,905$-11,377,880$-8,939,001$19,999,422$9,434,318$-954,251$9,689,686$-6,627,648
Net unrealized gains on investments$-17,785,905$-11,377,880$-8,939,001$19,969,614$9,434,318$-954,251$9,689,686$-6,627,648
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other revenue$460,326$708,644$-636,158$1,705,876$1,403,225$898,119$1,615,766$1,208,278
Investment expenses$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses$16,544,538$20,602,387$20,442,710$17,730,369$20,392,306$23,070,699$33,509,871$34,007,634
Total expenses and losses per audited financial statements$16,172,714$20,280,252$20,236,090$17,393,193$19,774,177$22,928,858$33,145,416$33,424,088
Other revenue$0$0$0$17,379$4,844$25,181$14,359$49,943
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Other expenses$371,824$322,135$206,620$354,555$622,973$167,022$378,814$633,489
Investment expenses$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings13
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200619
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Program service revenue
Program service revenue 1000000$000$0$32,114
Program service revenue 2000000$000$0$780
Program service revenue 3000000$000$0$335
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$402,539$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$9,465,965$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$16,118,579$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$12,076$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?Yes
Enter the total number of donor advised funds owned at the end of the tax year$687
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$88,167,393
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
Gifts, grants, and contributions received$20,803,260$29,615,561$18,942,179$10,756,464$13,255,308$21,227,323$52,722,802$24,675,282
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$52,087$45,957$46,471$36,930$36,997$36,022$36,947$33,332
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$6,820,108$7,811,543$6,589,242$4,837,964$4,097,081$3,542,010$5,210,339$9,213,412
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$11,520$34,365$27,085$31,286$9,519$27,135$5,848$12,018
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The New York Community Trust909 3rd Ave Fl 22, New York, NY 10022-4752NY1959-03$878,731,017
2California Community Foundation221 S Figueroa St Ste 400, Los Angeles, CA 90012-3760CA1980-07$832,072,005
3Oregon Community Foundation1221 Sw Yamhill St Ste 100, Portland, OR 97205-2108OR1973-11$669,364,278
4Greater Cincinnati Foundation200 West Fourth Street, Cincinnati, OH 45202-2775OH1963-10$464,561,829
5The Seattle Foundation1200 5th Ave Ste 1300, Seattle, WA 98101-3151WA1947-10$455,448,266
6The San Diego Foundation2508 Historic Decatur Rd Ste 200, San Diego, CA 92106-6138CA1975-08$384,807,897
7Boston Foundation Inc75 Arlington Street, Boston, MA 02116-3936MA1997-12$381,053,798
8Minneapolis Foundation800 Ids Center 80 South, Minneapolis, MN 55402MN1926-09$378,505,936
9The Chicago Community Trust, Akarama Foundation Fund 42-24135225 North Michigan Avenue Suite 220, Chicago, IL 60601-7757IL1951-06$358,308,115
10Greater Kansas City Community Foundation1055 Broadway St Ste 130, Kansas City, MO 64105-1595MO1979-01$322,132,233
11Hawaii Community Foundation827 Fort Street Mall, Honolulu, HI 96813-4317HI1996-07$311,043,517
12Foundation For The Carolinas220 N Tryon St, Charlotte, NC 28202-2137NC1962-10$148,389,356
13Winston-Salem Foundation860 W 5th St, Winston Salem, NC 27101-2506NC1946-07$135,963,479
14North Carolina Community Foundation Inc4601 Six Forks Rd Ste 524, Raleigh, NC 27609-5286NC1986-06$86,029,932
15Community Foundation Of Greater Greensboro Inc330 S Greene St Ste 100, Greensboro, NC 27401-2659NC1984-07$53,946,239
16The Community Foundation Of Western North Carolina Inc4 Vanderbuilt Park Dr Ste 300, Ashville, NC 28803-1700NC1979-09$44,436,974
17Community Foundation Of Henderson County IncPO BOX 1108, Hendersonvlle, NC 28793-1108NC1982-09$20,495,695
18Triangle Community Foundation324 Blackwell St Ste 1220, Durham, NC 27701-3690NC1984-03$19,939,157
19Salisbury Community FoundationCharlotte, NC 28202NC$8,518,969
20Community Foundation Of Gaston County IncPO BOX 123, Gastonia, NC 28053-0123NC1979-05$3,802,681
Number of organizations performing similar types of work
District of Columbia1
North Carolina9
North Dakota1
New Hampshire1
New Jersey5
New York14
South Carolina6
South Dakota3
West Virginia2
Total278 is not associated with, endorsed by, or sponsored by Winston-Salem Foundation and has no official or unofficial affiliation with Winston-Salem Foundation