Polk County Community Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
To administer funds entrusted to support charitable, cultural, educational and publicly beneficial activities in the community centered in and around Polk County, N.C. both by directly expending sums for such purposes and in cooperation with institutions qualified to carry out these objectives most efficiently. The foundation works with donors (both individuals and charitable organizations) to establish funds to benefit one or more named charities, to accomplish a certain objective (provide for cultural events, encourage the development of agriculture, provide free activities for youth, improve classroom teaching, etc.), to award scholarships to local students, and to allow the board of the Polk County Community Foundation to address the needs of the community as they change from time to time (unrestricted funds).
- Income
- $4.4 million
- Spending
- $3.6 million
- Spent on programs
- 91%
- Reserves
- 83.4 months of spending
- Largest source of income
- investment income, 57%
- Employees
- 5
- Volunteers
- 40
- Highest pay
- $241,500, president & ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 100 out of 100. Higher than 79% of charities in its peer group (philanthropy, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 83.4 months of spending.
Debt
20 of 20It owes 6% of what it owns.
Living within its means
15 of 15Income exceeded spending by 16% of income.
Income trend
15 of 15Income rose 71% on the year before.
Spending floor
15 of 1591% of spending went to programs and raising each dollar of donations cost 3 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 65% of charities in its peer group (philanthropy, $1m to $10m).
Independent board
25 of 2510 of 10 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $3.3 million spent. The Community Foundation is dedicated to improving the quality of life in Polk County, NC, and the surrounding areas. It fulfills this mission by: Awarding grants from unrestricted funds to support meaningful local nonprofit projects Providing vocational and college scholarships to local students Distributing income from endowment funds according to donor or nonprofit guidelines Administering planned giving programs Offering resources and meeting spaces for nonprofits Helping donors and nonprofits achieve their charitable goals The Foundation currently administers over 225 charitable funds. In response to Hurricane Helene, the Board of Directors authorized the use of the Emergency Relief Fund to address urgent community needs. Additionally, three new grantmaking funds were established: The Repair and Rebuilding Fund The Green River Restoration Fund The Pacolet Valley Restoration Fund These funds enabled the launch of a streamlined grant application process, allowing for the quick and effective distribution of critical resources. They support organizations focused on recovery, reconstruction, and restoration efforts, as well as those impacted by the storm, helping them reopen and continue serving the community.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 1975.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.