Program 1 · 16.7% of program spending · $134.0M in grants $139.9M
Environment and wildlife: disbursed 678 grants to various organizations to support environmental efforts of conservation, education, and other projects.
The 990 read · EIN 56-6047886 · NC · Fiscal year 2024
Foundation for the Carolinas
Foundation for the Carolinas: CEO salary, finances and where donations go
In its own words
“Foundation for the Carolinas is a non-profit community foundation serving donors and a broad range of charitable purposes in north and south carolina through grantmaking and civic leadership.”
Data only Figures straight from the filing, screened by our rules. Not yet reviewed in depth by a CPA.
Methodology by Amir Arani, CPA, CA · Updated
- Top pay
- $571K Cathy Bessant, 0.1% of spending
- Revenue
- $761.4M 86.2% from donations and grants
- Spent
- $849.2M 98.9% on programs, as reported
- Net assets
- $3.85B end of 2024
- Savings
- 54.4 months of spending, net assets ÷ spending
- People
- 141 employees, 19 volunteers
01 · Red flags
No red flags in its latest filing.
We screen every filing against twelve rules. A flag is a prompt for a closer look, not a finding of wrongdoing.
No reported asset diversions, no insider transactions, no fundraisers keeping most of the money, and the governance policies we check for are in place.
02 · Where $1 goes · 2024
Of each dollar it spent, 98.9¢ went to programs, as reported.
The split the charity filed.
Cost to raise $1
0¢
as reported
For each dollar donated, Foundation for the Carolinas spent 0¢ on fundraising.
Fundraising ÷ $656.1M contributions · Form 990 Parts VIII, IX03 · What it does
What it told the IRS it spent on.
The charity's own description of its largest programs, with what each cost.
Program 2 · 10.8% of program spending · $87.1M in grants $91.0M
Health and human services: disbursed 4,576 grants to various organizations offering services for seniors, youth development, housing and shelter, and other community needs.
Program 3 · 1.4% of program spending · $10.9M in grants $11.3M
Animal welfare: disbursed 302 grants to various organizations to support animal care, shelter, and spay and neuter programs.
Program 4 · 3.6% of program spending · $28.9M in grants $30.2M
Evolving needs and opportunities: disbursed 1,138 grants to support evolving needs and opportunities.
Program 5 · 3.1% of program spending · $25.2M in grants $26.3M
Arts & culture: disbursed 1,278 grants to various organizations providing support to the cultural community through art, history, and education.
Program 6 · 1.9% of program spending · $15.6M in grants $16.2M
Religion: disbursed 1,967 grants to support religious organizations.
04 · The savings
Net assets: $875.8M to $3.85B in 11 years.
Net assets at each fiscal year end, 2013 to 2024.
876
1218
1249
1442
1829
1766
2034
2327
2825
2989
3400
3848
05 · Who gets paid
The 8 highest-paid people.
Reportable pay in 2024, from the charity and related organizations.
Cathy Bessant
CEO
$571,104
Laura Smith
Former COO
$436,231
Blair Stanford
Celc Executive Director
$267,230
Douglas W Benson
Chief Administrative and Chief Risk Officer (secre
$258,355
Nikhil Sawant
Cio (thru 3/1/24)
$245,614
Laura Yates Clark
President
$234,479
Alyssa Federico
Chief Financial Officer (treasurer)
$228,615
Federico G Rios
Svp, Civic Leadership
$216,270
Largest outside contractors
| Contractor | Service | Paid |
|---|---|---|
| James Cohan Gallery | Art installment | $265,000 |
| Mcguirewoods Llp | Legal services | $217,997 |
| Cherry Bekaert Llp | Audit & tax services | $157,650 |
| Adams Outdoor Advertising | Advertising | $143,535 |
| Loyd Visuals | Consulting | $101,200 |
06 · Questions
The questions people ask about the Foundation for the Carolinas.
Short, sourced answers. Each one stands on its own.
How much does the Foundation for the Carolinas CEO make?
Cathy Bessant, CEO, received $571,104 in reportable compensation in 2024, 0.1% of Foundation for the Carolinas' $849.2M in spending.
Form 990 (2024), Part VIIWhat percentage of Foundation for the Carolinas donations go to programs?
Foundation for the Carolinas reported 98.9% of 2024 spending as programs, 0.1% as fundraising and 1% as management.
Form 990 (2024), Part IXHow much money does Foundation for the Carolinas have?
Net assets were $3.85B at the end of 2024, about 54.4 months of spending.
Form 990 (2024), Part XDoes Foundation for the Carolinas have any red flags in its filing?
Its latest Form 990 triggered none of our twelve screening rules, which cover reported asset diversions, insider transactions, fundraiser costs, governance policies and spending patterns.
Form 990 (2024)07 · Sources and citing
Every number, traced.
- Foundation for the Carolinas Form 990, 2024 (IRS e-file)
- Foundation for the Carolinas Form 990 history (ProPublica Nonprofit Explorer)
Cite this page
Amir Arani, “Foundation for the Carolinas: CEO salary, finances and where your dollar goes,” Charity Math, updated 2026-11-07. https://charitymath.com/charities/foundation-for-the-carolinas/