Linville Foundation INC FY2022 filing

Tax-deductible

Linville, NC501(c)(3)Since 2017EducationEIN 82-1682102Revenue $521K in FY2022

On file with the IRSPo Box 99, 28646-0099 · Linville, NCTax-exempt since Oct 2017Publicly supported charity — 170(b)(1)(A)(vi)

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The Foundation inspires, encourages, and supports students in their pursuit of college, graduate, or vocational education through financial aid and the granting of scholarship awards.

501(c)(3) charity; gifts are tax-deductible.
92¢ 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
IRS status
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
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $218K a year · 32% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 11.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $32K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$521K
-53% vs prior year
Spent
$447K
To programs
92%
Net assets
$2.9M
By yearFY2020–FY2025
Revenue
$521K
FY2022▼ -53%
Tap a bar for its year
Revenue by fiscal year
FY2020$373K
FY2021$1.1M
FY2022$521K
FY2023$686K
FY2024$666K
FY2025$749K
Expenses
$447K
FY2022▲ +30%
Tap a bar for its year
Expenses by fiscal year
FY2020$403K
FY2021$343K
FY2022$447K
FY2023$530K
FY2024$515K
FY2025$549K
Net assets
$2.9M
FY2022▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.7M
FY2021$3.4M
FY2022$2.9M
FY2023$3.2M
FY2024$3.6M
FY2025$4.1M

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2017.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $411K Management & general 8% · $36K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Betsy Austin’s $10K as Officer is at the 8th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Linville Foundation INC 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 15aYes

Programs and updates

Provides financial aid and scholarships to help students pursue college, graduate, or vocational education.

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Provided by the organization

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1 program · $411K · in their own filed words · FY2022
01

The Foundation granted over 70 scholarships to students to help further their education in graduate and undergraduate degrees. Our goal is to help and encourage students to further their education with college degrees and to provide support to these students during their time in college.

$411Kprogram expense

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 · FY2025
Total grants receivedfrom 4 funders$32K
See all 4 funders →
Grants paid · 6 grants · $2.5M · 2020–2025
Unitemized GrantFY2025$492,925
Unitemized GrantFY2024$457,350
Unitemized GrantFY2023$481,275
Unitemized GrantFY2022$400,675
Unitemized GrantFY2021$292,370
Unitemized GrantFY2020$372,655

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$521K
Ln 12
Gifts and grantsLn 1h$520K
Investment incomeLn 3$614
Money outPt IX
$447K
Ln 25
Programscol B$411K
Managementcol C$36K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$423K
Total assetsLn 16$2.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$520K
Investment incomeLn 3$614
Gains on assetsLn 7−$72K
Total revenueLn 12$521K
Assets in detailPt X, end of year
CashLn 1$423K
Cash and savings togetherLn 1–2$423K
InvestmentsLn 11–13$2.5M
Total assetsLn 16$2.9M
LiabilitiesLn 26$0
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$326K$423K
InvestmentsLn 11–13$3.0M$2.5M
Total assetsLn 16$3.4M$2.9M
LiabilitiesLn 26$0$0
Net assetsLn 32$3.4M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$401K$401K
Management feesLn 11a$8K$8K$0$0
Accounting feesLn 11c$3K$0$3K$0
Investment management feesLn 11f$23K$0$23K$0
Conferences, conventions and meetingsLn 19$9K$0$9K$0
InsuranceLn 23$1K$0$1K$0
Other expenses (24a–d)Ln 24$2K$2K$0$0
Total functional expensesLn 25$447K$411K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $749K$549K$200K$4.1M 990 PDF
FY2024 $666K$515K$151K$3.6M 990 PDF
FY2023 $686K$530K$156K$3.2M 990 PDF
FY2022 Viewing $521K$447K$74K$2.9M 990 PDF
FY2021 $1.1M$343K$754K$3.4M 990 PDF
FY2020 $373K$403K−$30K$2.7M 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 FY2022 990 (6 parts)
Part I · Summary $521,002 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $742,907$520,388
I-9 Program service revenue$0
I-10 Investment incomePrior year $354,890$614
I-11 Other revenue$0
I-12 Total revenuePrior year $1,097,797$521,002
I-13 Grants and similar amounts paidPrior year $292,370$400,675
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $10,000$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $40,962$46,789
I-18 Total expensesPrior year $343,332$447,464
I-19 Revenue less expensesPrior year $754,465$73,538
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $521,002 across 5 lines filed
VIII-1f All other contributions, gifts and grants$520,388
VIII-1h Total contributions, gifts and grants$520,388
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $72,601$72,601
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax −$71,987−$71,987
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $614$521,002
Part IX · Statement of functional expenses $447,464 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $400,675$400,675
IX-11a Management feesPrograms $8,411 · Management $0 · Fundraising $0$8,411
IX-11c Accounting feesPrograms $0 · Management $2,580 · Fundraising $0$2,580
IX-11f Investment management feesPrograms $0 · Management $23,494 · Fundraising $0$23,494
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $9,008 · Fundraising $0$9,008
IX-23 InsurancePrograms $0 · Management $1,267 · Fundraising $0$1,267
IX-24 Other expenses (24a–d)Programs $2,029 · Management $0 · Fundraising $0$2,029
IX-25 Total functional expensesPrograms $411,115 · Management $36,349 · Fundraising $0$447,464
Part X · Balance sheet $2,946,408 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $326,406$422,824
X-11 Publicly traded securitiesStart of year $3,033,844$2,523,584
X-16 Total assetsStart of year $3,360,250$2,946,408
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $3,360,250$2,946,408
X-32 Total net assets or fund balancesStart of year $3,360,250$2,946,408
X-33 Total liabilities and net assetsStart of year $3,360,250$2,946,408
Part XI · Reconciliation of net assets $2,946,408 net assets at year end
XI-1 Total revenue$521,002
XI-2 Total expenses$447,464
XI-3 Revenue less expenses$73,538
XI-4 Net assets at start of year$3,360,250
XI-5 Net unrealized gains (losses) on investments−$487,380
XI-10 Net assets at end of year$2,946,408

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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