Overview
What is Kanuga Endowment Inc?
Kanuga Endowment Inc is a nonprofit organization based in Hendersonville, North Carolina, with a focus on supporting Kanuga Conferences, Inc. Their primary objective is to ensure the financial stability and improvement of Kanuga Conferences, Inc.'s property and programs. In 2020, they contributed funds to various programs, including outreach efforts, youth programs, library upkeep, chaplain services, facility maintenance, and scholarships. The organization also released funds from restricted endowments for property improvements. During December of 2020, Kanuga Endowment Inc merged with Kanuga Conferences, Inc. Overall, their mission is to support and develop Kanuga Conferences, Inc., ensuring adequate scholarship resources for its participants.
Is Kanuga Endowment Inc legitimate?
Kanuga Endowment Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kanuga Endowment 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 Kanuga Endowment Inc?
Kanuga Endowment Inc's mission is primarily focused on providing financial stability and ensuring the longevity of Kanuga Conferences Inc. This involves managing and investing contributions, preserving and improving the property, developing programs, and providing adequate scholarship resources for participants. In 2020, the endowment funded various programs for Kanuga Conferences to the tune of $372,000, supporting outreach efforts, youth programs, library upkeep, chaplains, facility maintenance, scholarships, and program development. Additionally, the endowment released restricted contributions of $4,685,123 for debt service and property improvements. The organization's support encompassed adult programs, youth programs, camp activities, property maintenance, debt service, scholarships, and advancement, with a total use of funds of $5,057,123 in 2020. Following this, Kanuga Endowment Inc merged with Kanuga Conferences Inc. in December 2020.
Who is the CEO of Kanuga Endowment Inc?
Michael Sullivan is the President of Kanuga Endowment Inc.
What is the revenue of Kanuga Endowment Inc?
Kanuga Endowment Inc's revenue in 2020 was $539,404.
Who are the executives of Kanuga Endowment Inc and what are their salaries?
There 5 volunteers at Kanuga Endowment Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $144,154
- Other: $109,166
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $108,854
- Other: $14,932
- Compensation: $0
- Related: $66,628
- Other: $34,394
Where can I find the form 990 for Kanuga Endowment Inc?
Kanuga Endowment Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Kanuga Endowment Inc
Kanuga Endowment Inc, a nonprofit organization, is dedicated to providing financial stability and security for Kanuga Conferences, Inc. Its mission encompasses preserving and improving the property of Kanuga Conferences, developing its programs, and ensuring adequate scholarship resources for its participants. The endowment aims to solicit, manage, and invest contributions to support the financial needs of Kanuga Conferences Inc. In 2020, Kanuga Endowment Inc funded various programs for Kanuga Conferences, including outreach efforts, youth programs, library upkeep, guest period chaplains, maintenance, scholarships, and the ongoing development of Kanuga Conferences. Additionally, the endowment released restricted board contributions for property improvements, contributing significantly to debt service for these enhancements. In December 2020, Kanuga Endowment Inc merged with Kanuga Conferences Inc, continuing its mission to support the financial stability and growth of the conferences.
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Impact
October, 2024
Kanuga Endowment Inc has significantly bolstered the financial stability and operational capacity of Kanuga Conferences, Inc. by managing and investing contributions effectively. In 2020 alone, it provided $372,000 to support a wide range of initiatives, including outreach efforts, youth programs, library maintenance, and property upkeep. This funding ensured essential services like guest period chaplains and program scholarships remained available, enhancing the overall experience for participants.
The organization released over $4.6 million from board-restricted endowment contributions to address debt service for critical property improvements, enabling investments in infrastructure that foster the ongoing development of Kanuga Conferences. Additional allocations included support for adult programs, activities, and scholarships—all integral to maintaining vibrant programming.
Through its strategic fundraising and resource management, Kanuga Endowment Inc has played a vital role in preserving and enhancing Kanuga’s facilities and services, ensuring a secure future for the diverse community that benefits from its programs. The merger with Kanuga Conferences in December 2020 further streamlined efforts, amplifying impact through consolidated resources focused on sustained growth and programmatic excellence.
This information is meant to be a general summary of Kanuga Endowment 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 2020.
- Investment Income: $528,351
- Gross Receipts: $539,404
Assets and Liabilities:
- Total Assets: $5,265,031
- Total Liabilities: $11,640
- Net Assets: $5,253,391
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Organization Details
Founding Year
1991
Phone
(828) 692-9136Principal Officer
Michael Sullivan
Main Address
130 KANUGA CHAPEL DRIVE, HENDERSONVILLE, NC, 28739
NTEE Category
Code: T00 - Philanthropy
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