Nonprofit · EIN 58-1340834
GASTON COMMUNITY FOUNDATION
Tax-exempt · GASTONIA, NC 28053
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $12,089,275 | $11,491,725 | $597,550 | $145,388,423 | $45,226,758 | $100,161,665 |
| December 31, 2023 | 990 | $9,263,491 | $8,944,535 | $318,956 | $126,209,800 | $32,836,711 | $93,373,089 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $8,758,540
- Program service revenue
- $318,018
- Investment income
- $2,225,932
- Net rental income
- -$276,820
- Net gain from sales of assets
- $5,948
- Other revenue
- $786,785
Expenses
- Grants and similar amounts paid
- $10,312,991
- Compensation of officers, directors and key employees
- $183,750
- Other salaries and wages
- $450,496
- Salaries, compensation and benefits (total)
- $797,183
- Professional fundraising fees
- $0
- Accounting fees
- $61,185
- Travel
- $1,347
- Depreciation
- $328,228
- Program services (functional)
- $10,900,525
- Management and general (functional)
- $176,695
- Fundraising (functional)
- $414,505
Balance sheet and other
- Total assets, start of year
- $126,209,800
- Total assets, end of year
- $145,388,423
- Total liabilities, end of year
- $45,226,758
- Net assets, end of year
- $100,161,665
- Land, buildings and equipment
- $9,148,968
- Publicly traded securities
- $106,095,320
- Net assets without donor restrictions
- $74,975,895
- Net assets with donor restrictions
- $25,185,770
- Gross unrelated business income
- -$276,820
- Gross receipts
- $46,378,620
- Employees
- 8
- Volunteers
- 200
- Year formed
- 1978
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ERNEST W SUMNER | PAST PRESIDE Officer | 40 | $183,750 | $18,735 |
| NANCY PASCHALL | PAST CHAIR Trustee or director | – | $0 | $0 |
| DAVID ROGERS | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JOHN MCGILL | SECRETARY/TR Trustee or director, Officer | 1 | $0 | $0 |
| NAZRUL CHOWDURY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT CALDWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JENNIFER DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK EPSTEIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE FAYED | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN GRIFFITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR KELVIN HARRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVIDSON HOBSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS PEEK | INVESTMENT C Trustee or director | 1 | $0 | $0 |
| ANTHONY POWELL | GRANTS CHAIR Trustee or director | 1 | $0 | $0 |
| AMY SPENCER | DEVELOPMENT Trustee or director | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT SPENCER | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| JENNIE STULTZ | DIRECTOR Trustee or director | 1 | $0 |
| PAM WARLICK | DIRECTOR Trustee or director | 1 | $0 |
| DAVID WOFFORD | DIRECTOR Trustee or director | 1 | $0 |
| JOHN LOWERY | DIRECTOR Trustee or director | 1 | $0 |
| JANE PEARSON | DIRECTOR Trustee or director | 1 | $0 |
| STEVEN WILSON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ERNEST W SUMNER | PRESIDENT Officer | 40 | $180,000 | $17,298 |
| NANCY PASCHALL | PAST CHAIR Trustee or director | – | $0 | $0 |
| DAVID ROGERS | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JOHN MCGILL | SECRETARY/TR Trustee or director, Officer | 1 | $0 | $0 |
| GAYLE KERSH | DEVELOPMENT Trustee or director, Officer | 1 | $0 | $0 |
| NAZRUL CHOWDURY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATHLEEN BOYCE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT CALDWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JENNIFER DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK EPSTEIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE FAYED | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN GRIFFITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR KELVIN HARRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVIDSON HOBSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS PEEK | INVESTMENT C Trustee or director | 1 | $0 | $0 |
| ANTHONY POWELL | GRANTS CHAIR Trustee or director | 1 | $0 | $0 |
| AMY SPENCER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT SPENCER | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| HARDING STOWE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JENNIE STULTZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAM WARLICK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID WOFFORD | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 123, GASTONIA, NC 28053-0123
- Principal officer (990 for 2024)
- RICHARD RANKIN, PO BOX 123, GASTONIA, NC 28053
- Signed the 990
- RICHARD RANKIN, PRESIDENT
- Phone
- (704) 864-0927
- Website
- WWW.CFGASTON.ORG
- Return prepared by
- MCCANNON ROGERS DRISCOLL & ASSOC LLP
Mission
OUR MISSION IS TO INSPIRE GENEROSITY, UPLIFT NONPROFITS, AND CONNECT DONORS WITH COMMUNITY NEEDS.
Program accomplishments
- SINCE 1978, GASTON COMMUNITY FOUNDATION HAS BEEN HELPING DONORS FULFILL THEIR PHILANTHROPIC DREAMS. INDIVIDUALS, FAMILIES, AND ORGANIZATIONS ESTABLISH FUNDS AT THE GASTON COMMUNITY FOUNDATION TO CARRY OUT THEIR CHARITABLE GIVING NOW AND IN THE FUTURE. WITH OVER 400 FUNDS UNDER MANAGEMENT, THE FOUNDATION ASSISTS DONORS WITH PLANNED GIVING OPTIONS FOR A CHARITABLE LEGACY, INCLUDING UNRESTRICTED FUNDS, FUNDS DESIGNATED FOR A SPECIFIC CHARITABLE ORGANIZATION OR FIELD OF INTEREST AS WELL AS MANY ADVISED FUNDS WHERE THE INDIVIDUAL OR CORPORATE DONOR CAN RECOMMEND GRANTS FOR A VARIETY OF COMMUNITY CAUSES.Expenses $7,909,758 · grants $7,322,224 · revenue $318,018
- GASTON COMMUNITY FOUNDATION MAKES UNRESTRICTED GRANTS TO ORGANIZATIONS AND PROGRAMS OPERATING IN GASTON COUNTY OR PRIMARILY FOR THE BENEFIT OF GASTON COUNTY CITIZENS THROUGH AN ANNUAL COMPETITIVE GRANT APPLICATION PROCESS.Expenses $2,990,767 · grants $2,990,767
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 58-1340834
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1979
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T310)
- Assets (IRS master file)
- $145,388,423
- Income (IRS master file)
- $46,378,620
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $12,089,275 | $11,491,725 | $145,388,423 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $9,263,491 | $8,944,535 | $126,209,800 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $13,988,192 | $7,152,255 | $120,059,448 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-1340834).
Questions about GASTON COMMUNITY FOUNDATION
- What is the EIN of GASTON COMMUNITY FOUNDATION?
- The employer identification number (EIN) of GASTON COMMUNITY FOUNDATION is 58-1340834.
- Is GASTON COMMUNITY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1979.
- Are donations to GASTON COMMUNITY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GASTON COMMUNITY FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GASTON COMMUNITY FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GASTON COMMUNITY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GASTON COMMUNITY FOUNDATION?
- The 990 for the year ended December 31, 2024 names RICHARD RANKIN.
- Who are the officers and directors of GASTON COMMUNITY FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 22 people; 1 received compensation from the organization, the highest $183,750 (ERNEST W SUMNER, PAST PRESIDE).
- How much revenue does GASTON COMMUNITY FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $12,089,275, expenses of $11,491,725 and total assets of $145,388,423 at year end.
Other nonprofits in GASTONIA
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- UNITED WAY OF GASTON COUNTY INC EIN 56-0653356 · last filed 990 for 2025
- MCH FOUNDATION EIN 81-3586325 · last filed 990-PF for 2024
- CARRIE E AND LENA V GLENN FOUNDATION INC EIN 20-1808211 · last filed 990-PF for 2025
- DARRELL AND PATRICIA STEAGALL FAMILY FOUNDATION EIN 56-2061059 · last filed 990-PF for 2025
- AARON MARTIN FOUNDATION EIN 82-1779779 · last filed 990-PF for 2024
- GASTON SKILLS FOUNDATION INC EIN 56-2089277 · last filed 990-EZ for 2024
All nonprofits in GASTONIA · North Carolina · Philanthropy, voluntarism and grantmaking foundations