McLeod Foundation

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EIN 20-8042018 Private foundation / grantmaker Clayton, NC NTEE T20
Form 990 (PDF)

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Revenue & expenses by yearFY2020–FY2025
Revenue
$2.6M
FY2025▲ +341%
Expenses
$288K
FY2025▼ -10%

Form 990 for the fiscal year ending December 2025 (IRS tax year 2025).


A private foundation based in Clayton, NC. For fiscal year 2025 it reported $2.6M in revenue, $288K in expenses, and $2.1M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Clayton, NC
Filings
6 on file (2020–2025)
Revenue
$2.6MFY2025
Expenses
$288K
Net assets
$2.1M
People
2
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Size
$1–10M
What they do
A private foundation based in Clayton, NC.
Leadership
Bernard F McLeod III · President
Money in and out
$2.6M revenue, $288K expenses
Bottom line
—
Grants paid & assets · FY2025
Total revenue
$2.6M
Pt VIII · Ln 12
Total expenses
$288K
Pt IX · Ln 25
Net assets
$2.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2.3M
Total assets
2.4M
deployed as grants and operations
Grants paid
260K
in FY2025
Grants made
13grants
total in period
Payout rate
11%
of assets (5% rule)

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Who They Fund

Part XV · grants paid · 13 grants · $260K · 2025–2025
Blue Ridge SchoolFY2025$80,000
Fuquay Varina UmcFY2025$50,000
First Baptist Church ClaytonFY2025$35,000
Campbell UniversityFY2025$30,000
Unc Health FoundationFY2025$20,000
YMCA of the Triangle Area INCFY2025$18,500
Appalachian Trail ConservancyFY2025$10,000
Clayton Area MinistriesFY2025$5,000
Johnston Health FoundationFY2025$4,000
Harbor INCFY2025$2,500
Ichoose Pregnancy Support ServicesFY2025$2,500
Wake Forest UniveristyFY2025$2,000
St Mary's SchoolFY2025$500

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$20K
Median grantPart XV$10K
Largest grantPart XV$80K

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF
Total assets
$2.4M
FY2025▲ +47%
Total liabilities
$213K
FY2025▼ -88%
Total assetsPt II$2.4M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CMcLeod Foundation
EINHdr · item D20-8042018
Principal addressHdr · item CClayton, NC
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T20)
Ruling yearIRS BMFMay 2007

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
V/P - Treasu
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income100%$2.6M
Total revenueLn 12$2.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.90 Operating & administrative $0.10
Grants & contributions paid90%$260K
Operating & administrative10%$28K
Total functional expensesLn 25$288K

Balance Sheet

Part X · end of year
CashLn 1$198K
Total assetsLn 16$2.4M
Total liabilitiesLn 26$213K
Total net assetsLn 32$2.1M
Months of cash on handcomputed8.2

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $2.4M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $2.6M
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $2.6M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $2.6M · Prior year $-1.1M
Prior-year revenue below floor — showing dollar change
Revenue CAGR
FY2020 $41K · FY2025 $2.6M
+130%
Net-asset trend (YoY)
End of year $2.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.6M · Expenses $288K
+89%
Liabilities-to-Assets
Total liabilities — · Total assets $2.4M
—
Net-asset ratio
Net assets $2.1M · Total assets $2.4M
91%
People & payroll
Highest Reported Total Compensation
Individual Bernard F McLeod III · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $288K
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 341%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$2.6M revenue · viewing · ⤓ 990 PDF
FY2024$-1.1M revenue · ⤓ 990 PDF
FY2023$333K revenue · ⤓ 990 PDF
FY2022$123K revenue · ⤓ 990 PDF
FY2021$43K revenue · ⤓ 990 PDF
FY2020$41K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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