Summarized Financial Information

for Years Ended December 31


Statement of Financial Position

2012

2011

Assets

   

  Cash and Cash Equivalents

$15,003,198

$25,222,847

  Accounts Receivable

2,554,885

239,938

  Pledges Receivable, Net

74,520,295

28,903,888

  Prepaid Expenses/Inventory

124,695

76,464

  Short Term Investments

116,929,284

115,308,024

  Property and Equipment, Net

20,868,119

20,581,871

  Notes Receivable

551,265

1,512,437

  Other Assets

5,972,803

13,290,397

  Beneficial Interest in Trust

9,095

9,085

  Long Term Investments

748,855,180

640,230,598

  Other Investments

31,123,554

10,639,718

Total Assets

$1,016,512,373

$856,015,277

     

Liabilities and Net Assets

   

  Liabilities

$305,500,829

$277,798,816

  Net Assets

711,011,544

578,216,461

Total Liabilities and Net Assets

$1,016,512,373

$856,015,277

 

Statement of Activities

   

Revenues

   

  Contributions

$248,137,564

$139,288,451

  Less - Contributions Received on Behalf of Others

(8,059,816) 

(9,017,922)

  Net Contributions

240,077,748

130,270,529

  Other, Net*

66,439,864

1,730,859

Total Revenues, Gains and Other Support

$306,517,612

$132,001,388

Expenses

 

 

  Grants

$157,713,177

$141,521,121

  Less - Grants Disbursed on Behalf   of Others

(9,786,982) 

(21,153,412)

  Net Grants

147,926,195

120,367,709

  Operating Expenses

7,533,657

6,094,979

  Other Expenses**

18,262,677

9,929,727

Total Expenses

$173,722,529

$136,392,415

Change in Net Assets

$132,795,083

$4,391,027

Net Assets, Beginning of Year

578,216,461

582,607,488

Net Assets, End of Year

$711,011,544

$578,216,461


*Includes net investment gains/losses, administrative fees received and change in beneficial interest in trust.

**Includes depreciation expense, administrative fees charged, program expenses and pass-through fund expenses.

The audited financial statements of Foundation For The Carolinas are available for inspection at:

Foundation For The Carolinas
220 North Tryon Street
Charlotte, North Carolina 28202 

Independent Auditors:

Cherry Bekaert, L.L.P.

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