2023 YEAR IN REVIEW
What’s Inside
5 2023 Grant Recipients
2 Letter From Our Board
6 What We Do
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Frequently Asked Questions
7 Gratitude Roundup
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Impacts on Our Community
8 Four Ways to Give
Save the Date! Sports Day & Dinner Dance Gala, July 20, 2024
A Letter from our Board Dear Lake Toxaway Estates Neighbor, Lake Toxaway Charities was founded more than 45 years ago by a few generous residents who believed in the importance of charitable giving and support of the profound needs of our neighbors in Transylvania County. Because of our founders and your steadfast support, we are proud to report that LTC’s grants to local non-profit organizations have disbursed over $5,000,000 to date. Many thanks to all of you for your participation and support of this year’s “Evening in Bali” annual sports day and gala. Once again, the event was a tremendous success, raising over $1,000,000. In addition, the 2023 Angel Tree Giving Program co- sponsored by The Greystone Inn will provide over 200 families with food, clothing and gifts this holiday season. Please know that we are continually humbled by the generosity of each and every one of you. In addition to your financial gifts, we could not be successful without the support of our incredible team of volunteers. Because of this we contract minimal paid staff and services at very little expense. We hope you will enjoy reading this review, which describes more details about the positive impact of your contributions. It also provides information on how you can donate to Lake Toxaway Charities via checks, gifts of appreciated stock, planned giving from your estate, and gifts specifically designated for our board directed endowment fund, the Lake Toxaway Charities Community Giving Fund. Please accept our gratitude for embracing our culture of care and concern for those in need. We appreciate your continued support to sustain our giving to deserving neighbors in need of assistance, and we thank you.
2022 Financials Revenues Net Income from Fundraising
$898,193
Other Contributions
$179,756
Designated Gifts for Endowment
$353,883
Other Grants from Government and Corporations Investment Activity Total Revenues
$22,825 $1,454,657
Expenses & Allocations Salaries and Wages Occupancy Fees for Professional Services
$11,920
Postage, Printing, Supplies
$4,835
Insurance
$1,217
Volunteer Recruitment
$4,254
Technology Licenses
$2,996
Other Expenses
$3,255
Total Operating Expenses
$28,477
Operating Exp as % of Total Revenue
1.96%
Chip Brown, Jenny Renfroe, Gary Sperduto, and Carroll Summerour
Grants Distributed in 2022
$629,750
Endowment Investment
$183,212
Designated Gifts for Endowment
$353,883
The Board of Lake Toxaway Charities
Additions to Operating Reserves
$259,335
Total Expenses and Allocations
$1,454,657
www.laketoxawaycharities.org
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Frequently asked questions When was LTC founded and what have been the charitable results since its inception? Lake Toxaway Charities was founded in 1977. Since its first years of operation, LTC has given away over 5 million dollars to 501(c)(3) organizations in Transylvania County. What is the purpose of LTC? LTC’s purpose is to support not-for-profit agencies in Transylvania County, NC as they work to serve our neighbors in need. Does LTC focus its charitable giving? LTC offers assistance to the work of not-for-profit organizations that assist the homeless, the hungry, the abused, those in need of healthcare, and educational systems and programs. What percent of monies received into LTC go to expenses of running the organization? Because of the huge number of volunteer hours worked and the minimal use of contracted services, the charity to date has been able to keep expenses to about 2% of monies received from donors. How are grants to 501(c)(3 ) organizations in Transylvania County decided and distributed? A Grant Committee of volunteers evaluates grant requests from qualified not-for-profit organizations. Working within a budget set by the board of LTC, the Grant Committee decides, with oversight and approval of the board, how to distribute funds each year. Because a grant recipient receives monies in one year, it does not guarantee a grant for succeeding years. Each year the grant evaluation and decision-making process stands on its own. What is the purpose of the endowment and how is it funded? The endowment, named the Community Giving Fund, was established for the express purpose of growing funds so that across time Lake Toxaway Charities may become self-sustaining. It may not always be possible to capture as many volunteer hours of our Lake Toxaway Estate residents. It is the hope that if a paid director or other paid assistance becomes necessary across time, funding for those salaries can be provided by the earnings of the endowment. To accomplish this goal for a self-sustaining organization the endowment will have to grow across time. The endowment has been started by extraordinary gifts and pledges by a few residents of Lake Toxaway Estates. As time goes by, it is recognized that future funding drives may be necessary. In addition to direct gifts to the endowment, 15% of all gifts to Lake Toxaway Charities are given to the foundation each year. Has LTC engaged professional accounting services to perform a financial audit? LTC has engaged the firm of Corliss and Solomon to perform a formal financial audit for the year ending 12/31/2023. Thank you in advance for your cooperation in responding to any verifications you may receive about your gifts to LTC. How can I become involved with the work of LTC? There are many opportunities to volunteer through Lake Toxaway Charities. Examples: work directly with a not-forprofit agency LTC supports; attend or help with the Volunteer Fair which is held each year to provide examples of volunteer opportunities; serve on the grant assessment committee; help with general administrative tasks; assist with the Annual Gala.
Lake Toxaway Charities is a 501(c)(3) tax-exempt organization and all contributions to it and/or its endowment are fully tax deductible.
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Impacts on Our Community Augustine Literacy Project It is the mission of Augustine Literacy Project to help improve the reading, writing and spelling abilities of low-income children and teens who struggle with literacy skills. The project trains and supports volunteer tutors who provide free, long-term, 1-to-1 instruction using the Orton-Gillingham approach and Wilson Reading System® materials.
Four Seasons Compassion for Life Four Seasons is a nationally recognized, non-profit leader in the delivery of care for people with a serious illness. For nearly 40 years, the Four Season staff has ensured that patients and families going through an incredibly challenging time are cared for in a home-like setting with a team of professionals that minister to the body, mind, spirit, and emotional components of our clients. Lake Toxaway Charities funding provides support including in-home and inpatient hospice care, bereavement services and music therapy through Heart Songs (a children’s and teen’s grief program), the “We Honor Veterans” program, and the “Angel Fund” which provides help where it is most needed.
G o d s Way Fo o d P a n t r y Gods Way Food Pantry is located in Balsam Grove and serves those in Transylvania, Haywood and Jackson Counties where they are considered a food desert. GWFP provides non-perishable food, home products, and fresh fruits and vegetables to families every two weeks on Saturdays. Grant funding from Lake Toxaway Charities will assist us with floor repairs, updated security cameras, and maintenance of our food refrigeration systems.
Cove Shelter The mission of Cove Shelter is to provide for the physical and spiritual needs of homeless individuals and families in Transylvania County. Cove Shelter operates from November through March and provides emergency shelter during these coldest months of the year. Lake Toxaway Charities grant funding allows for additional nights of paid staffing and supports unexpected operating expenses.
www.laketoxawaycharities.org
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2023 Grant Recipients • Anchor Baptist Church • Augustine Literacy Project-Brevard • Big Brothers Big Sisters of WNC • Blue Line Foundation • Blue Ridge Community College Educational Foundation • Blue Ridge Community Health Services • Blue Ridge Mountains Health Project (Free Dental Clinic) • Bound for Glory Camp • The Bread of Life • Brevard College • Brevard Lions Club • The Children’s Center • The Cindy Platt Boys & Girls Club of Transylvania County • Cove Shelter • Creating a Family • Crossnore Communities For Children • DJ’s Wish, Inc. • Earthshine Nature Programs • El Centro Communitario Hispano-Americano • The Family Place of Transylvania County • Fellowship of Christian Athletes • Four Seasons Compassion For Life • Free Rein Center, Inc. • Friends of Gorges State Park • Friends of Panthertown • Gods Way Fellowship Food Pantry • Handshake America Inc
• The Haven of Transylvania County • Isaac Homes Youth Services • Lake Toxaway Community Club • LETS GO Boys and Girls Inc. • Meals on Wheels of Brevard, Inc. • MedAssist of Mecklenburg • The Mediation Center • Mountain Roots, Inc. • Mountain School of Strings • Muddy Sneakers, Inc. • Neighbors in Ministry Inc. - Rise and Shine • North Toxaway Baptist Church Food Bank • Pisgah Astronomical Research Institute • Quebec Community Club • SAFE • The Salvation Army • The Sharing House-Transylvania Christian Ministries • Smart Start of Transylvania County • St. Baldrick’s Foundation • Summit Charter School • The Transylvania County Hunger Coalition • Through the Trees • Transylvania Community Arts Council • Transylvania County Schools Educational Foundation • Transylvania Habitat for Humanity • Veterans History Museum • WNCSource • Young Life of Transylvania County
Lake Toxaway Charities is a 501(c)(3) tax-exempt organization and all contributions to it and/or its endowment are fully tax deductible.
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W h a t We D o
GRANT ASSESSMENTS At the heart of Lake Toxaway Charities is the enormous generosity of spirit of our community members who pledge their resources to make a positive difference in the lives of our neighbors who are most in need. A volunteer Grant Assessment Committee donates over 250 hours of their time to 18.5% determine grant funding to local agencies through a rigorous assessment process. Each member of the Grant Assessment Committee serves as a liaison to four or five agencies. They stay in contact with their agencies via personal visits, emails, and/or 10.6% phone calls. Annually, interested agencies apply for grant funding anew, there is no automatic funding/guarantee for continued funding. Each agency request stands on its own merit, and we say “no” if a new or previous agency does not meet 13.5% our mission’s criteria.
9.7%
47.8%
We currently support 55 agencies for the hungry, the homeless, those in need of healthcare, the abused, and to education systems and programs. For those agencies which are awarded grants, funds are distributed in June.
Healthcare
Homeless
www.laketoxawaycharities.org
Hungry
Abused
Education
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Gratitude Roundup Blue Ridge Free Dental Clinic The Blue Ridge Free Dental Clinic is humbled by your continued support of our mission to RESTORE LIVES, ONE TOOTH AT A TIME! We are thrilled to be able to expand our outreach in western Transylvania County and we are grateful for your support.
Free Rein THANK YOU for your support. Because of your generosity Free Rein is able to make an impact by serving children and adults with emotional, physical, and developmental disabilities through their interactions with horses. Please come visit us to see your gifts $ working!
Rise and Shine On behalf of our board, staff, scholars, and families, we extend our gratitude for the continued partnership and generosity of Lake Toxaway Charities. We are honored to have been awarded your grant. Dedicated to making a difference in the lives of our scholars, our program focuses on three key messages: YOU MATTER. WE BELIEVE IN YOU. DREAM BIG. We are humbled and grateful for your ongoing investment in our organization.
The Cindy Platt Boys & Girls Club Thank you for your support of our mission to serve our local youth in memory of Dr. Robert Graham. Bob’s Bus represents Bob’s lifelong passion and leadership for education and will provide transportation to and from the club for our Rosman members. Whether it is arts, sports, technology, gardening, or academics, our Club gives our members outlets to explore and shine. Thank you for your contribution, and for your incredible outpouring of love and support for a truly remarkable man.
Lake Toxaway Charities is a 501(c)(3) tax-exempt organization and all contributions to it and/or its endowment are fully tax deductible.
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Wo r d s c a n n o t e x p r e s s o u r T H A N K S t o t h e 3 2 2 d o n o r s who supported us during our annual giving period o f O c t o b e r, 2 0 2 2 t o S e p t e m b e r, 2 0 23
$100,000+
Carla Cooper Mike & Taryn Galvin Jorge & Marjorie Morales Cliff & Georganne Williams
$50,000 - $99,000 Bart & Elaine Boyer
$25,000 - $49,999
Robert & Brenda Barkley Kevin & Vicki Burkhart Estate of Joan Cook Peter & Mimi Elder Tom & Susan Fazio Bruce and Anne Harrell Steve & Bonnie Knier Brian & Deb Singleton Jeff & Elisha Zander
$10,000 - $24,999 AEC Trust Ron & Hilah Autrey Doug & Sally Bailey William & Caroline Bloomhall Robert Coningsby Danita Dickman Tom & Jean Dodson Jim & Tara Elgass George & Lisa Etheridge Linda Garner Rick & Denise Guthy Carter & Susan Hopkins Marshall & Susan Larsen Patrick & Amy McCarter Frank & Elizabeth Medici Bob & Jean Merritt Russ and Nancy Morley Candy Norton Wilfred & Rita Olschewski Steve & Deborah Rogers Edward & Natalie Safee Shuford Family Trust Clay & Lisa Sykes Benn & Amanda Vincent
$10,000 - $24,999 (cont.) Roma Wehde & Tom Kennedy Bobby & Sheila Weil
$5,000 - $9,999
Community Foundation of Western North Carolina Ignacio & Teresa Armas Glenn & Sherri Austin Robert & Betty Balentine Terry & Judith Bangs Dennis & Kathy Berry Larry & Donna Bradner David and Joni Burden Bob Coley Sandra Dillon Chip & Edith Dixon Bob & Caroline Donohue Lee & Nancy Ellis Robert & Marilynn Evert Jonathan & Elizabeth Feit George & Elke Fetterolf Randy & Ann Fowler Robert & Mary Ann Hamilton Scott & Jane Hancock Bunny Jones Bob & Cindy Keane Lake Toxaway Company Philip & Cheryl Leone Bernie & Billi Marcus Daniel and Amy McMorrow Ted & Niv Miller Richard & Mo Mitchell Morgens West Foundation Randy & Patsy Norton Joseph & Karen Phillips Brittain Pinckney Doug & Patty Probst Drew & Kellie Prusiecki Jason & Jamie Ramsey Andy & Jenny Renfroe Lewis & Sue Robinson Robert Sorgini Gary & Susan Sperduto
Supporters who have contributed and/or pledged to
The Endowment: Community Giving Fund Sally Allen Ron and Hilah Autrey Carla Cooper Kevin & Elizabeth Dice Sandra Dillon Tom and Sue Fazio Mike and Taryn Galvin John and Ruth Giordano Bill Hackney James and Peggy Henderson Carter and Susan Hopkins Jorge and Marjorie Morales Scott and Anne Perper Deb and Brian Singleton Gary and Susan Sperduto Toby and Carroll Summerour Gail Watson Cliff and Georganne Williams
$5,000 - $9,999 (cont.) Ryan & Amanda Stahl Thomas & Jane Suggs Mark & Kris Visk
$2,500 - $4,999
Alex & Lisa Alexander Sally Allen Chip & Leslie Brown Harry & Nancy Jane Bush Rich Cauthen & Wes Kennedy Jim & Jo Ditzel Dwight & Ann Duke William & Sally Easley Chip & Mishew Edwards Peter & Jane Fox Dan & Veronica Grahl Bill Hackney Jim & Stacey Hamilton Fred & Cathy Hawley
Wo r d s c a n n o t e x p r e s s o u r T H A N K S t o t h e 3 2 2 d o n o r s who supported us during our annual giving period o f O c t o b e r, 2 0 2 2 t o S e p t e m b e r, 2 0 23 ( c o n t . )
$2,500 - $4,999 (cont.)
Tee & Sherry Hooper Laura Austin & Kit Whitehurst Robert & Christine Lipscomb Ken & Sandy McCoy Mark & Leslie Medinger Mark & Marcia Miller Sherry Minnich Scott & Lisa Morgan James & Margaret Morris Bill & Joanne Nolan Lyle & Donna Odland Forest & Bambi Robinson Art & Cathy Rollins Frank & Susan Stark Robert & Jane Toney Martin & Linda Vaughan Peter Weir Anne Zimmerman
$1,500 - $2,499 Duke Energy Highlands Cashiers Board of Realtors Appalachian Golf Cars Gregory & Amanda Arscott David & Lisa Baker Robert & Claudia Brockett Joseph & Danielle Buttigieg Claudia Cowart John & Betty Crowe Steve & Lori Delaney Fred & Betty Devitt Herschel & Davenie Faber David & Sandra Ferguson Fernando Flores & Susan Pinnas John & Ruth Giordano Chip & Ruth Goldsmith Jim & Lauren Grien Kenneth & Mardale Gustke David & Susan Harker James & Peggy Henderson Sue Hester
$1,500 - $2,499 (cont.) Douglas & Barbara Hill Jackson Wine & Alex Ivers Jack & Shirley Kaplan Sally King Kyle & Jaclyn Kinsell Mac & Connie Leppard Jim & Judy Lipham Donald & Judy Molitor John & Mish Nichols Jack & Page Powell David & Katherine Reeves Lou & Mary Jean Risi Charles Roberts Katy & Matthew Sandiford Steve & Marcy Sloan James & Ann Turner Mike & Bonnie Vandegrift Cal & Rebecca Warriner Larry & Yeardley Williams
$1 - $1,499 169 additional and very appreciated supporters.
Photos from
An Evening in Bali
Bart & Elaine Boyer Steve & Bonnie Knier Bruce and Anne Harrell Roma Wehde & Tom Kennedy Bobby & Sheila Weil
Fo u r Wa y s t o G i v e L a k e To x a w a y C h a r i t i e s • These gifts will fund the 2024 Operating Budget • These non-directed gifts support 501(c)(3) agencies in Transylvania County • Write your check payable to Lake Toxaway Charities, and mail to PO Box 163, Lake Toxaway, NC 28747 • For details on transferring gifts of stock, contact Jenny Renfroe, Board Vice Chair, at jennyrenfroe@comcast.net
The Endowment: Community Giving Fund • These gifts will sustain LTC into the future • Write your check payable to Lake Toxaway Charities and use the memo line to specify “for endowment.” • To learn more about the endowment contact Gary R. Sperduto, Endowment Chair. Text or call 404-694-0233
Vo l u n t e e r O p p o r t u n i t i e s There are many opportunities to enrich your life. Contact us to explore any of these options: • Work with an agency we support • Attend or help with the Volunteer Fair • Serve on the Grant Assessment Committee • Help with general administrative tasks • Assist with Annual Gala • To learn more about these opportunities contact Jenny Renfroe, Board Vice Chair, at jennyrenfroe@comcast.net
Planned Giving • Think ahead! Consider including Lake Toxaway Charities in your will. • Your planned gift may be credited to you, in memory of another, or remain anonymous at your request. • Planned gifts should be made to “Community Giving Fund - The Endowment of Lake Toxaway Charities”, and cite Tax ID #56-1882460 and mailing address PO Box 163, Lake Toxaway NC 28747 • For more information or help making a planned gift contact Gary R. Sperduto. Text or call 404-694-0233
Lake Toxaway Charities is a 501(c)(3) tax-exempt organization and all contributions to it and/or its endowment are fully tax deductible.
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