TOTAL REVENUE - FISCAL 2025
$6,942,677
Down 38.2% from $11,231,906 in fiscal 2024.
Community Foundation Of Burke County
Morganton, North Carolina - EIN 56-2170220 - Latest filing: fiscal 2025 (Jan 1, 2025 - Dec 31, 2025)
HOW TO READ THIS PAGE
How to read this page: every figure below is from the fiscal-2025 Form 990, filed May 8, 2026. People named below are shown as reported on the fiscal-2025 Form 990, filed May 8, 2026 - the filing is a snapshot of that fiscal year, not a list of current officeholders.
THE FILING IN ONE PARAGRAPH
Community Foundation Of Burke County reported $6,942,677 in revenue and $2,723,150 in expenses in fiscal 2025, a surplus of $4,219,527 for the year. Program services took $2,508,966 of expenses, or 92.1%. The organization closed the year with $63,916,586 in net assets - about 281.7 months of expenses at the fiscal-2025 spending level.
At a Glance - Fiscal 2025
All values are fiscal 2025 unless a tile says otherwise.
TOTAL EXPENSES - FISCAL 2025
$2,723,150
Revenue minus expenses: $4,219,527 in fiscal 2025.
PROGRAM EXPENSE SHARE - FISCAL 2025
92.1%
$2,508,966 of $2,723,150 went to program services.
NET ASSETS - END OF FISCAL 2025
$63,916,586
Total assets $63,961,192 minus total liabilities $44,606.
TOP EXECUTIVE PAY - FISCAL 2025
$119,339
Jj Musgrove, Former President, as reported on the fiscal-2025 Form 990, filed May 8, 2026. Total across all compensation columns.
PEOPLE REPORTED - FISCAL 2025
4 Employees
Plus 0 volunteers reported on the fiscal-2025 Form 990.
Money In, Money Out - Fiscal 2025
Revenue and expenses as reported on the fiscal-2025 Form 990, filed May 8, 2026. Donated goods are separated from cash so food and supply donations do not read as cash income.
Where the Money Went - Fiscal 2025
Management and general is the figure reported on the filing (Part IX total); where a filing does not carry it, it is computed as the residual of total expenses minus program and fundraising expenses. Cost to raise a dollar in fiscal 2025: $0.01 - $66,385 in fundraising expenses divided by $4,866,719 in total contributions. On cash contributions only: $0.02.
Where the Money Came From - Fiscal 2025
| Source | Fiscal 2025 |
|---|---|
| Total Contributions | $4,866,719 |
| Of Which Cash Contributions | $4,088,696 |
| Of Which Donated Goods (Noncash) | $778,023 |
| All Other Contributions | $4,866,719 |
| Program Service Revenue | $0 |
| Investment Income | $2,075,892 |
| Other Revenue | $66 |
| Total Revenue (All Sources) | $6,942,677 |
Government Grants - Not Broken Out
The fiscal-2025 Form 990 does not break out government grants as a separate line for this organization. This page shows Not Broken Out instead of estimating a figure.
The fiscal-2025 Form 990 does not break out government grants as a separate line for this organization. This page shows Not Broken Out instead of estimating a figure.
Reserves and Balance Sheet - Fiscal 2025
Reserves and Runway
281.7 Months
of reserves - $63,916,586 in net assets at the end of fiscal 2025, divided by average monthly expenses of about $226,929 in fiscal 2025.
Net assets can include donor-restricted funds, buildings and other assets that cannot be spent like cash. Treat months of reserves as a scale measure, not as cash in the bank.
Balance Sheet - End of Fiscal 2025
| Total Assets | $63,961,192 |
| Total Liabilities | $44,606 |
| Liabilities as Share of Assets | 0.1% |
| Net Assets | $63,916,586 |
Leadership Pay - Fiscal 2025
Pay is the summed total across all compensation columns on the Form 990 - pay from the organization, pay from related organizations, and other compensation. People are shown as reported on the fiscal-2025 Form 990, filed May 8, 2026.
| Name and Title, as Reported | Total Pay - Fiscal 2025 | Share of Expenses |
|---|---|---|
| Jj Musgrove - Former President | $119,339 | 4.38% |
| Barbara J Wetsig-Lynam - President & CEO | $24,067 | 0.88% |
The full Part VII table lists every officer, director, trustee and key employee named on the filing, with hours and the same summed total. Compensation is reported for the calendar year ending within the fiscal year, per the Form 990.
Board and Governance - Fiscal 2025
Board and policy answers as reported on the fiscal-2025 Form 990, filed May 8, 2026.
Board Roster - as Reported on the Fiscal-2025 Form 990
14 voting members, 14 independent - independence count as reported on the fiscal-2025 Form 990.
| Name, as Reported | Role, as Reported |
|---|---|
| Jj Musgrove | Former President |
| Barbara J Wetsig-Lynam | President & CEO |
| Jordan Greene | Director |
| Richard L Deaugustinis | Director |
| Kelle B Huffman | Director |
| John M Heilman | Director |
| Chris T Brittain | Director |
| Amy Kincaid | Director |
| Erin Kizer | Director |
| David A Parker | Director |
| Sara Moses | Director |
| David R Wiese | Director |
| J Mark Rostan | Secretary |
| Serina T Hinson | Treasurer |
| Naomi W Hunt | Vice Chairman |
| Jj David Fletcher | Chairman |
Governance Policy Flags - Fiscal 2025
Conflict of Interest PolicyYes - Reported
Whistleblower PolicyYes - Reported
Document Retention PolicyYes - Reported
Audited Financial StatementsYes - Reported
Audit CommitteeYes - Reported
Board Size and Independence14 voting / 14 independent
Flags report what the organization answered on the Form 990. A Yes means the policy was reported on the filing; it is not an outside review of how the policy works in practice.
Grants - Fiscal 2025
Grants Made - Fiscal 2025
This organization reported $2,062,197 in grants paid in fiscal 2025.
| Recipient, as Reported | Amount |
|---|---|
| Waldensian Presbyterian Church Of Valdese RELIGION | $274,967 |
| Burke United Christian Ministries HUMAN SERVICES | $272,676 |
| Drexel Museum Inc ART, CULTURE AND HUMANITIES | $135,000 |
| Waldensian Heritage Foundation ART, CULTURE AND HUMANITIES | $110,883 |
| Amorem HEALTH | $70,683 |
| First Presbyterian Church - Morganton RELIGION | $64,944 |
| Historic Burke Foundation Inc ART, CULTURE AND HUMANITIES | $53,493 |
| Grow With Drexel ART, CULTURE AND HUMANITIES | $41,000 |
| History Museum Of Burke County ART, CULTURE AND HUMANITIES | $39,673 |
| Good Samaritan Clinic HEALTH | $36,918 |
| Foothills Conservancy Of North Carolina Inc ENVIRONMENT/ANIMAL | $32,524 |
| Western Piedmont Foundation Inc EDUCATION | $31,597 |
| Church Of God Ministries Inc RELIGION | $28,000 |
| Mimosa Christian Counseling Center HEALTH | $27,600 |
| First Church Of God Of Drexel RELIGION | $27,000 |
| First United Methodist Church RELIGION | $26,515 |
| Options Inc HUMAN SERVICES | $25,368 |
| Rural America Initiatives HUMAN SERVICES | $25,000 |
| Southmountain Children And Family Services Inc HUMAN SERVICES | $24,513 |
| Habitat For Humanity Of Burke County Inc HUMAN SERVICES | $23,920 |
| Grace Episcopal Church RELIGION | $21,250 |
| Old Colony Players ART, CULTURE AND HUMANITIES | $20,500 |
| Purdue Research Foundation Dba Purdue For Life Foundation EDUCATION | $20,000 |
Trend - Revenue
Years are shown only where a filing is held. Missing years are absent, never filled in.
| Fiscal Year | Revenue | Change |
|---|---|---|
| Fiscal 2024 (Prior-Year Column on the Fiscal-2025 Filing) | $11,231,906 | - |
| Fiscal 2025 | $6,942,677 | -38.2% |
This table grows to a 10-year view (revenue, expenses, net assets and top pay) as earlier filings for this organization are added to the record. Missing years are absent, never filled in.
Filings on Record
| Tax Period | Form | Status | Source |
|---|---|---|---|
| Jan 1, 2025 - Dec 31, 2025 | Form 990 | In Force - Filed May 8, 2026 | Original Filing at the IRS |
If an amended return is filed, the newest amended return supersedes the earlier one and the table marks which filing is in force.