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Nonprofit · EIN 99-5017980

TBC FOUNDATION

Tax-exempt · DURHAM, NC 27703

Financials

$2.3M$135K2025
Revenue Expenses · by fiscal year end
Financials of TBC FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$2,314,375$134,984$2,179,391$2,187,738$0$2,187,738
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$1,946,166
Program service revenue
$0
Investment income
$59,643
Net gain from sales of assets
$59,643
Other revenue
$308,566

Expenses

Grants and similar amounts paid
$125,375
Compensation of officers, directors and key employees
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Program services (functional)
$126,637
Management and general (functional)
$8,347

Balance sheet and other

Total assets, start of year
$0
Total assets, end of year
$2,187,738
Total liabilities, end of year
$0
Net assets, end of year
$2,187,738
Publicly traded securities
$2,093,916
Net assets without donor restrictions
$2,187,738
Gross receipts
$2,667,146
Employees
0
Volunteers
5
Year formed
2023
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, 2025, highest compensation first.

NameTitleHours / weekCompensation
Michael BowersTrustee
Trustee or director
3$0
Lucas BeaverTrustee
Trustee or director
3$0
Todd KingTrustee
Trustee or director
3$0
Michael KennonPresident
Trustee or director
3$0

Address and contacts

Address (IRS master file)
312 FALLS VILLAGE DR, DURHAM, NC 27703-7217
In care of
% MICHAEL BOWERS
Principal officer (990 for 2025)
Michael Kennon, 312 Falls Village Drive, Durham, NC 27675
Signed the 990
Michael Kennon, President
Return prepared by
Proximity Tax Strategies

Mission

To steward and responsibly manage the charitable assets received from the dissolution of Trinity Baptist Church and to advance charitable, religious, and community initiatives through strategic grantmaking to qualified Section 501(c)(3) organizations under the oversight of the Board of Directors.

990 for the year ended December 31, 2025

Program accomplishments

  • Steward and managed the charitable assets received from the dissolution of Trinity Baptist Church and to actively support and fund a diverse range of qualified Section 501(c)(3) organizations through strategic grantmaking, advancing religious, educational, and community initiatives in alignment with the Foundations mission and Board oversight.
    Expenses $126,637

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025Check at the IRS
2023December 31, 2023May 15, 2024Check at the IRS

IRS record

EIN
99-5017980
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
2024
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Religion-related (X21)
Assets (IRS master file)
$2,187,738
Income (IRS master file)
$2,667,146

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$2,314,375$134,984$2,187,738IRS

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 99-5017980).

Questions about TBC FOUNDATION

What is the EIN of TBC FOUNDATION?
The employer identification number (EIN) of TBC FOUNDATION is 99-5017980.
Is TBC FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
Are donations to TBC FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does TBC 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 TBC FOUNDATION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did TBC FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of TBC FOUNDATION?
The 990 for the year ended December 31, 2025 names Michael Kennon.
Who are the officers and directors of TBC FOUNDATION?
The 990 for the year ended December 31, 2025 lists 4 people; 0 received compensation from the organization.
How much revenue does TBC FOUNDATION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $2,314,375, expenses of $134,984 and total assets of $2,187,738 at year end.

Other nonprofits in DURHAM

All nonprofits in DURHAM · North Carolina · Religion-related