Eugene M Cole Foundation-Trust: Nonprofit Profile, Financials & Form 990 (EIN 56-6002294)

Revenue by fiscal year
FY2020	$215K
FY2021	$248K
FY2022	$281K
FY2023	$220K
FY2024	$264K
FY2025	$333K

Expenses by fiscal year
FY2020	$202K
FY2021	$210K
FY2022	$241K
FY2023	$221K
FY2024	$221K
FY2025	$249K

Net assets by fiscal year
FY2020	$3.4M
FY2021	$3.4M
FY2022	$3.4M
FY2023	$3.4M
FY2024	$3.5M
FY2025	$3.6M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1945.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

86%

14%

Program services 86% · $213K Management & general 14% · $35K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

R Tony Orsbon

Trustee

$0Pt VII · Sec A

Rebecca Douglas

Trustee

$0Pt VII · Sec A

See Eugene M Cole Foundation-Trust executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports retired United Methodist ministers in Western North Carolina with monthly aid for health insurance costs.

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Provided by the organization

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1 program · $213K · in their own filed words · FY2024

01

These funds were disbursed in monthly payments to the western north carolina conference of the united methodist church to be applied against health benefits paid on behalf of retired united methodist ministers and their widows.

$213Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking

Grants paid · 6 grants · $1.2M · 2019–2024

Western North Carolina Annual Conference of the United MethodistNC · FY2024$213,449

Western North Carolina Annual Conference of the United MethodistNC · FY2023$188,417

Western North Carolina Annual Conference of the United MethodistNC · FY2022$193,683

Western North Carolina Annual Conference of the United MethodistNC · FY2021$212,436

Western North Carolina Annual Conference of the United MethodistNC · FY2020$177,387

Western North Carolina Annual Conference of the United MethodistNC · FY2019$174,327

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$333K

Ln 12

Investment incomeLn 3$333K

Money outPt IX

$249K

Ln 25

Programscol B$213K

Managementcol C$35K

Owns and owesPt X

$3.6M

net assets · Ln 32

Cash and savingsLn 1–2$2

Total assetsLn 16$3.6M

LiabilitiesLn 26$0

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$333K

Gains on assetsLn 7$139K

Total revenueLn 12$333K

Assets in detailPt X, end of year

CashLn 1$2

Cash and savings togetherLn 1–2$2

InvestmentsLn 11–13$3.6M

Total assetsLn 16$3.6M

LiabilitiesLn 26$0

Net assetsLn 32$3.6M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderNovember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$1	$2
InvestmentsLn 11–13	$3.5M	$3.6M
Total assetsLn 16	$3.5M	$3.6M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$3.5M	$3.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$213K	$213K
Investment management feesLn 11f	$35K		$35K
Total functional expensesLn 25	$249K	$213K	$35K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$333K	$249K	$84K	$3.6M	990 PDF
FY2024	$264K	$221K	$43K	$3.5M	990 PDF
FY2023	$220K	$221K	−$127	$3.4M	990 PDF
FY2022	$281K	$241K	$40K	$3.4M	990 PDF
FY2021	$248K	$210K	$38K	$3.4M	990 PDF
FY2020	$215K	$202K	$13K	$3.4M	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

See the full FY2025 990 (6 parts)

Part I · Summary $332,695 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $264,073$332,695

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $264,073$332,695

I-13 Grants and similar amounts paidPrior year $188,417$213,449

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $32,318$35,452

I-18 Total expensesPrior year $220,735$248,901

I-19 Revenue less expensesPrior year $43,338$83,794

Part VI · Governance 2 of 2 board members independent, 4 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $332,695 across 3 lines filed

VIII-3 Investment incomeRelated to mission $194,025$194,025

VIII-7 Net gain or loss on sales of assetsRelated to mission $138,670$138,670

VIII-12 Total revenueRelated to mission $332,695 · Unrelated business $0 · Excluded from tax $0$332,695

Part IX · Statement of functional expenses $248,901 across 2 lines filed

IX-1 Grants to domestic organizationsPrograms $213,449$213,449

IX-11f Investment management feesManagement $35,452$35,452

IX-25 Total functional expensesPrograms $213,449 · Management $35,452 · Fundraising $0$248,901

Part X · Balance sheet $3,561,727 assets, 6 lines filed

X-1 Cash, non-interest-bearingStart of year $1$2

X-12 Other securitiesStart of year $3,477,932$3,561,725

X-16 Total assetsStart of year $3,477,933$3,561,727

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $3,477,933$3,561,727

X-33 Total liabilities and net assetsStart of year $3,477,933$3,561,727

Part XI · Reconciliation of net assets $3,561,727 net assets at year end

XI-1 Total revenue$332,695

XI-2 Total expenses$248,901

XI-3 Revenue less expenses$83,794

XI-4 Net assets at start of year$3,477,933

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$3,561,727

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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