Community Foundations Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
The Organizations mission is to provide individuals and families a firm foundation through financial education, the encouragement of home ownership and to provide affordable housing to low and moderate income families through neighborhood revitalization and/or other community and economic development activities.
- Income
- $144,556
- Spending
- $208,119
- Spent on programs
- 87%
- Reserves
- 27 months of spending
- Largest source of income
- donations and private grants, 97%
- Employees
- 4
- Volunteers
- 9
- Highest pay
- $64,647, executive dir.
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
Fair: 55 out of 100. Higher than 62% of charities in its peer group (housing, under $250k).
Reserves
35 of 35Spendable reserves would cover 27.0 months of spending.
Debt
5 of 20It owes 56% of what it owns.
Living within its means
0 of 15Spending exceeded income by 44% of income.
Income trend
0 of 15Income fell 27% on the year before.
Spending floor
15 of 1587% of spending went to programs and raising each dollar of donations cost 4 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
Good: 79 out of 100. Higher than 56% of charities in its peer group (housing, under $250k).
Independent board
25 of 259 of 9 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
0 of 5Reports that it does not keep 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
0 of 5Reports no independent review process for its chief executive's pay.
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)
- $180,683 spent. The Organization operates to help provide affordable housing to low to moderate income families. The Organization supports neighborhood revitalization and/or other community and economic development activities that further the development of viable urban neighborhoods in the Town of Mooresville and South Iredell County of North Carolina. It also serves as a vehicle for sharing information and resources about affordable housing and home ownership to service providers, beneficiaries of affordable housing the Mooresville community as a whole. Designed to implement housing education programs for low to moderate income families, Community Foundations helps to enhance the quality of life of these individuals though housing counseling, financial literacy and home buyer education. Construction of two single family homesRehab of a Single family homeDevelopment activities on acquired lots for additional construction of homes
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 October 13, 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 November 6, 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 October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since May 1998.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 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 November 4, 2026.
Could it be confused with another charity? Worth knowing.
A much larger organization has a similar name: The Community Foundation Inc (Richmond, VA), EIN 23-7009135. If that is the one you meant, check the EIN before giving.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 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.