Community Foundation of Henderson County Inc

Overview

Mission

Helping people who care make lasting contributions to causes that matter, community foundation of henderson county is a highly visible, philanthropic leader directed by an engaged and committed board, staffed by qualified employees, empowering donors at all levels to invest in professionally managed charitable funds that address community needs.

What it reported doing in 2024

Founded in 1982, community foundation of henderson county serves the entire community by receiving, managing, distributing funds for charitable purposes, and consultation on charitable programs to fulfill donor's wishes. Contributions may be pooled and invested, so that the income provides a permanent source of grant monies for general or specific purposes. The foundation awards grants through both competitive and non- competitive processes with the greatest number of grants being non- competitive, including designated and donor advised grants. Grants were awarded to 389 organizations representing a broad spectrum of services. Grants are categorized into nine program areas: animal care, arts and culture, civic and community affairs, conservation, education, health, human services, faith based needs, and other. The foundation uses strategies on convening community interest; engage leadership, volunteers and organizations to work collaboratively on community issues. 68 disaster grants were awarded to 48 nonprofits and 137 businesses were impacted by hurricane helene.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
561330792
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Headquarters
Hendersonville, NC, USA
Phone
8286976224
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.4%; rating input score 69
  • Program expense ratio: 91.4%; rating input score 91
  • Fundraising efficiency: $70.15 raised per $1 spent on fundraising; rating input score 81; 81st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 91.6%; rating input score 92; 21st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 46.9%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 15.42; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 69.4% of revenue deployed · 91.4% of spending went to programs
  • Governance: 19 of 19 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $10M in reported program spending
  • Leadership: top reported pay $245K · 21 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 175 filed money-flow records
  • Related organizations: 164 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

21 people listed

Highest reported compensation

  • MCCRAY V BENSON (PRESIDENT/CE): $245,237 total reported compensation
  • RACHEL W BUCHANAN (CFO): $133,611 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.