Overview
What is Western North Carolina Real Estate Foundation Inc?
Western North Carolina Real Estate Foundation Inc is a nonprofit organization situated in Asheville, North Carolina, specifically at 4 Vanderbilt Drive 300. Its primary mission is to develop charitable resources by acquiring and liquidating real estate gifts. During the 2021-2022 period, the foundation did not sell any property or make related grants to the Community Foundation of Western North Carolina. Instead, they incurred minimal maintenance expenses on existing real estate for future use, benefiting the Community Foundation of Western North Carolina. This nonprofit is committed to supporting its affiliated community foundation with the proceeds from real estate transactions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating
The Western North Carolina Real Estate Foundation Inc has earned a Two-Star rating from Charity Navigator, primarily attributed to its accountability and financial health. The organization scores well in several key areas, including having a fully independent board with 75% of its members being independent, demonstrating strong governance. Additionally, there is no material diversion of assets, and the organization maintains a favorable liabilities to assets ratio of 0.00%.
Financially, the foundation showcases impressive efficiency with a program expense ratio of 97.16%, indicating that nearly all of its expenses are directed towards programs rather than overhead. The foundation also earns full points for documenting board meeting minutes, reflecting a commitment to transparency.
However, the two-star rating suggests that while the organization is performing adequately in terms of accountability and finance, there may be areas for improvement in overall operational effectiveness or impact that could elevate its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Western North Carolina Real Estate Foundation Inc legitimate?
Western North Carolina Real Estate Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Western North Carolina Real Estate Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Western North Carolina Real Estate Foundation Inc?
The Western North Carolina Real Estate Foundation Inc's mission is centered around developing charitable resources. They achieve this by acquiring and liquidating real estate assets, with the proceeds benefiting the Community Foundation of Western North Carolina. The organization holds real estate for future use, incurring minimal maintenance expenses in the process. During the 2021-2022 period, no properties were sold or grants made to the Community Foundation of Western North Carolina.
Who is the CEO of Western North Carolina Real Estate Foundation Inc?
Graham Keever is the Director of Western North Carolina Real Estate Foundation Inc.
What is the revenue of Western North Carolina Real Estate Foundation Inc?
Western North Carolina Real Estate Foundation Inc's revenue in 2022 was $9,873.
Who are the executives of Western North Carolina Real Estate Foundation Inc and what are their salaries?
There 7 volunteers at Western North Carolina Real Estate Foundation Inc.
Here are 10 key members and their salaries:
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- Compensation: $285,619
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- Other: $39,836
- Compensation: $176,818
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- Other: $46,182
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- Compensation: $137,086
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- Other: $22,831
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Where can I find the form 990 for Western North Carolina Real Estate Foundation Inc?
Western North Carolina Real Estate Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Western North Carolina Real Estate Foundation Inc
Western North Carolina Real Estate Foundation Inc is an organization dedicated to developing charitable resources. They achieve this objective by acquiring and liquidating gifts of real estate as they become available, with the ultimate goal of benefiting the Community Foundation of Western North Carolina. This nonprofit's mission is to utilize real estate donations to generate funds that will contribute to the wellbeing of their community. During the 2021-2022 period, no properties were sold or related grants were made to the Community Foundation of Western North Carolina. Instead, the organization incurred minimal maintenance expenses on the existing real estate, preparing it for future use to ultimately contribute to the Community Foundation of Western North Carolina's charitable pursuits.
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Impact
October, 2024
Western North Carolina Real Estate Foundation Inc plays a crucial role in enhancing charitable resources within the region. Its mission focuses on the acquisition and liquidation of real estate, which serves to strengthen the Community Foundation of Western North Carolina. By managing real estate assets, the Foundation positions itself to benefit various community initiatives and projects.
In recent activities spanning 2021-2022, while there were no properties sold or grants made during that period, the Foundation continued to prioritize the management of existing real estate. This minimal maintenance was essential for ensuring the properties remain viable for future use, thereby maintaining the potential to support the community in subsequent years.
The impact of the Foundation extends beyond immediate financial contributions—it lays the groundwork for sustainable community development through future real estate opportunities. By preparing for the eventual liquidation of properties, the Foundation is poised to provide resources that support philanthropic efforts and address community needs. This strategic approach ensures that the Foundation can respond effectively to opportunities as they arise, ultimately contributing to the betterment of Western North Carolina.
This information is meant to be a general summary of Western North Carolina Real Estate Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9
- Gross Receipts: $14,409
Assets and Liabilities:
- Total Assets: $86,359
- Total Liabilities: $0
- Net Assets: $86,359
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Organization Details
Founding Year
2007
Phone
(828) 254-4960Principal Officer
Graham Keever
Main Address
4 VANDERBILT DRIVE 300, ASHEVILLE, NC, 28803
NTEE Category
Code: T11 - Philanthropy
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