Historic Wilmington Foundation Inc

Nonprofit profile at a glance

EIN
566074528
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Wilmington, NC, USA
Phone
9107622511
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$373,486
Expenses
$418,340
Assets
$2,357,893
Liabilities
$256,076

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • Carol Bullock (Executive Director)
  • Trisha Wilson (President)
  • Jan Brewington (Vice President)
  • William Stolz (Former Executive Director)

Highest reported compensation

  • William Stolz (Former Executive Director): $32,300 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Historic Wilmington Foundation is to protect and preserve the irreplaceable historic resources of Wilmington and the Lower Cape Fear Region.

What it reported doing in 2025

For over 55 years, HWF has preserved our region's built history utilizing a revolving grant fund, easements, education, and advocacy. Wilmington has eight National Register of Historic Places and HWF has played a pivotal role in the creation and designation of all of them. Beginning with the creation of the Wilmington Historic and Archeological District in 1974, HWF has helped establish the National Register of Historic Places of Market Street Mansion, Carolina Place, Carolina Heights, Masonboro Sound, Sunset Park, Westbrook-Ardmore, and Brookwood. HWF has one of the most prolific local plaque programs in the country, featuring six distinctive plaques to honor a variety of historic properties. More than 700 plaques have been researched and approved for historic properties throughout New Hanover County, NC, and beyond. Another educational program is Tar Heels Go Walking, a walking tour for New Hanover County's third grade students. HWF also holds free walking tours each month for adults, covering a variety of topics related to architecture and history. In the last three years, HWF has used its revolving grant fund for the relocation of 310 Bladen, an 1890s bungalow set for demolition, and the restoration of Reaves Chapel, a local landmark to Gullah Geechee culture and heritage. HWF's Preservation Equity Fund helps to save properties on the City of Wilmington's Demolition by Neglect (DBN) list; this program serves our neighbors who are most in need of saving not just their homes, but our community's built history. In 2021, HWF committed itself to finding a solution for the perpetual care of Maides Cemetery, a historic African American cemetery (located in New Hanover County) with graves dating back to the 19th century. Currently, HWF is assisting Giblem Lodge, the second-oldest Black Masonic Temple in the state, to prepare a local landmark application, engage consultants, and apply for grant funding to support dire repairs. HWF has also partnered with Cape Fear Community College to create a historic preservation construction certification. Training more contractors to properly restore historic properties ensures a strong future for our historic homes and strengthens our local job market.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 67
  • Accountability: 90
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.9%; rating input score 93
  • Program expense ratio: 60.9%; rating input score 61
  • Fundraising efficiency: $4.12 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 27th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 5.64; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 11.6% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 92.9% of revenue deployed · 60.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $255K in reported program spending
  • Leadership: top reported pay $32K · 20 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 17/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.