Cagc Foundation INC FY2022 filing

Tax-deductible

Charlotte, NC501(c)(3)EIN 56-1604530

To serve the construction industry by financially supporting excellent workforce development.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 years looks good.
IRS e-file · Filing history
Is it financially stable?
0 of 5
years in the black
Concern: 5 of the last 5 filings show a deficit.
Pt I · Ln 19 · 5 filings
How much reaches the programs?
97%
of spending
Looks good: 97% of spending went to programs; 75% or more looks good.
Pt IX · Ln 25 · col B
Do they have reserves?
52 mo
of spending, in cash
Looks good: 52.1 months of spending in cash; 3 or more looks good.
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
1
named funder · $1K
Worth a look: 1 funder names it on their filings; under 3 is worth a look.
Funders’ Sch. I, 990-PF
Do they carry debt?
$1.7M
liabilities
Worth a look: debts are 73% of assets; over 50% is worth a look.
Pt X · Ln 26
Who oversees it?
15
independent of 15 voting board members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodWorth a lookConcernTap a box for the reason.
Revenue
$325K
-77% vs prior year
Spent
$417K
To programs
97%
Net assets
$626K
By yearFY2020–FY2024
Revenue
$325K
FY2022▼ -77%
Revenue by fiscal year
FY2020$2.4M
FY2021$1.4M
FY2022$325K
FY2023$1.8M
FY2024$1.6M
Expenses
$417K
FY2022▼ -72%
Expenses by fiscal year
FY2020$2.5M
FY2021$1.5M
FY2022$417K
FY2023$1.9M
FY2024$1.6M
Net assets
$626K
FY2022▼ -26%
Net assets by fiscal year
FY2020$905K
FY2021$844K
FY2022$626K
FY2023$533K
FY2024$561K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CCagc Foundation INC
EINHdr · item D56-1604530
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFMay 1989
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CCharlotte, NC
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.97 Management & general $0.03
Program services97%$406K
Management & general3%$11K
Total functional expensesLn 25$417K

Financial health

Is it on solid ground?

Net inflow
-28%
revenue over expenses, this year
Pass-through gifts
94%
of revenue from contributions
Program spending
97%
of expenses reach stated programs

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$2.4M
FY2022▲ +113%
Total assets by fiscal year
FY2020$2.4M
FY2021$1.1M
FY2022$2.4M
FY2023$1.9M
FY2024$1.8M
Total liabilities
$1.7M
FY2022▲ +562%
Total liabilities by fiscal year
FY2020$1.5M
FY2021$261K
FY2022$1.7M
FY2023$1.4M
FY2024$1.2M
Revenue less expensesPt I · Ln 19−$92K
Total assetsPt X · Ln 16$2.4M
Program-expense ratioPt IX · col B97%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415

Balance Sheet

Part X · end of year
CashLn 1$1.8M
Total assetsLn 16$2.4M
Total liabilitiesLn 26$1.7M
Total net assetsLn 32$626K
Months of cash on handcomputed52.1

Statement of Revenue

Part VIII
Contributions & grants$305K · 94%
Investment income$20K · 6%
Contributions & grants94%$305K
Investment income6%$20K
Total revenueLn 12$325K

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $2.3M · Operating expenses/yr $417K
67.6 months
Where the money goes
Program services
Program services $406K · Total expenses $417K
97%
Management & General
Management & general $11K · Total expenses $417K
3%
Fundraising
Fundraising $0 · Total expenses $417K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $1.4M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $305K · Total revenue $325K
94%
Government reliance
Government grants — · Total revenue $325K
—
Earned-income share
Program service revenue $0 · Total revenue $325K
0%
Investment reliance
Investment income $20K · Total revenue $325K
+6%
Program self-sufficiency
Program service revenue $0 · Total expenses $417K
0%
Growth & trend
Revenue growth (YoY)
This year $325K · Prior year $1.4M
-77%
Net-asset trend (YoY)
End of year $626K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $325K · Expenses $417K
-28%
Liabilities-to-Assets
Total liabilities — · Total assets $2.4M
—
Net-asset ratio
Net assets $626K · Total assets $2.4M
27%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $541K · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $2.4M
23%
People & payroll
Highest Reported Total Compensation
Individual David Simpson · Reported title Secretary · Highest reported compensation $0 · Total expenses $417K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $417K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 97%——
Overhead ratio 3%——
Fundraising cost ratio 0%——
Revenue growth -77%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0%——
Fundraising fee ratio 0%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
See Cagc Foundation INC executive salaries →

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Governance & Policies

Part VI
  • 15Voting board membersPt VI · Ln 1a
  • 15Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Funds workforce development for the construction industry.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $406K of program spending, described in the organization's own filed words · FY2022.
01

Build your career (byc) program to get more people aware of construction career opportunities by launching education efforts on the middle school and high schoollevels, as well as in community colleges, and with individuals wantingto change careers.

$395Kprogram expense
02

Education and Training

Carolinas agc foundation offers progressive training opportunities for construction trade craftsmen, construction supervisors, and executive management. The foundation is an accredited training sponsor for the national center for construction education and research (nccer).

$11Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$1K
Grants paid · 10 grants · $6.1M · 2020–2024
See Attached ListFY2024$1,196,040
Unitemized GrantFY2024$19,994
See Attached ListFY2023$1,375,805
Unitemized GrantFY2023$12,993
See Attached ListFY2022$210,084
Unitemized GrantFY2022$11,000
See Attached ListFY2021$1,133,186
Unitemized GrantFY2021$12,000
See Attached ListFY2020$2,158,107
Unitemized GrantFY2020$12,000

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest $1.6M$1.6M-11% 990 PDF
FY2023 $1.8M$1.9M+442% 990 PDF
FY2022 Viewing $325K$417K-77% 990 PDF
FY2021 $1.4M$1.5M-42% 990 PDF
FY2020 $2.4M$2.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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