Winston-Salem Foundation

Analysis

Winston-Salem Foundation is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in July 1946, 80 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Winston-Salem Foundation reported income of $73.0m and spending of $91.1m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $52.6m to $73.0m (+39%), an average of +8.5% a year. The sharpest change came in the year to December 2020, when income rose by 118%. Over the whole period it spent 88% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Winston-Salem Foundation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include New Hanover Community Endowment Inc ($72.9m), Catholic Community Foundation of Minnesota ($75.5m) and Inland Southern California 211 ($72.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $1.2m (1.3% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $641.6m against liabilities of $1.9m, net assets of $639.7m. It reported 36 employees.