NGCF 2025 Annual Report

2025 ANNUAL REPORT

LETTER FROM LEADERSHIP

J. Randall Frost 2024-2025 Board Chair

EXECUTIVE COMMITTEE J. Randall Frost, Chair Don Grimsley, Vice Chair Kristi Griffin, Treasurer Brian Steines, Secretary Chad Black, Advisor

BOARD MEMBERS Andy Bangs Scott Barloga Mark Bell Jeff Cohen Carole Ann Daniel Tom Johnston Christina Jones Rachel Marshall James McCoy Mary Helen McGruder Steve Mickens Kelly Miles Tate O'Rouke Hart Payne Steven Smith Martha Spence John Vardeman Jason Voyles Trey Wood

Serving on the Board of the North Georgia Community Foundation (NGCF) for the past seven years—two of those as Chair—has been an honor. I am grateful for the dedicated board members who lead with wisdom and care, and for the exceptional NGCF team whose commitment brings our mission to life each day.

When I stepped into the role of Chair, NGCF held $119.5 million in charitable assets. By the close of 2025, that number had grown to $182.1 million. At the same time, $33.4 million was awarded through grants and scholarships—demonstrating that growth and generosity go hand in hand. These numbers—paired with the programs and resources NGCF provides—reflect meaningful investment in students and nonprofits, strengthening organizations to expand their impact, and building stronger relationships across the North Georgia region, including the growing engagement of the next generation of community leaders.

NGCF’s continued progress is the result of the generosity of our fundholders, strong partnerships, and thoughtful leadership—all grounded in a shared belief in the power of community—principles that have shaped the Foundation over the past 40 years, which we proudly celebrated in 2025.

Our NGCF fundholders commitment to making our community stronger is remarkable—whether through establishing funds, supporting scholarships, seeking out additional grants, or investing in programs and resources like the Community Room. They are truly inspiring. On behalf of our Board and Foundation leadership, I offer my sincere thanks for their trust and partnership, and for allowing NGCF to be part of their philanthropic journey.

NGCF’s strength has always been rooted in thoughtful leadership—past and present—guiding the Foundation forward with purpose and care. And I would be remiss if I did not recognize Michelle Prater, who celebrated her 10-year anniversary as President and CEO this year. Her leadership has been instrumental in continuing that legacy and shaping NGCF’s future.

With Michelle at the helm, alongside a strong board and dedicated staff, I am confident NGCF will continue to lead with intention, remain responsive to the needs of our community, and grow its reach and relevance in the years ahead—continuing to invest in the people and nonprofits who call our community home.

For Good. For Ever.

With gratitude, J. Randall Frost

FINANCIAL SNAPSHOT YEAR AT A GLANCE

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 2025 Fiscal Year Ended December 31, 2025

ASSETS Current Assets

Cash Investments Fees receivable Other receivables Prepaid expenses and deposits Total Current Assets Property and Equipment, Net Operating lease right-to-use asset, net Cash Held in Trust Investments Held in Trust TOTAL ASSETS

REVENUES, GAINS AND OTHER SUPPORT $896,259 $165,355,184 $525,290 $$15,896 $166,792,629 $1,981,188 $1,299,370 $634,663 $11,403,515

$182,111,365

LIABILITIES AND NET ASSETS Current Liabilities

Accounts Payable Unearned Revenue Security Deposits Operating lease liability Liabilities under split trust agreements

$55,087 $$640 $190,869 $589,057

Total Current Liabilities

$835,653

Long Term Liabilities

Funds Held as Agency Endowments Operating lease liability Liabilities under split interest agreements Annuity Liabilities Total Long Term Liabilities

$29,198,809 $1,185,439 $5,212,892 $140,269 $35,737,409

Undesignated Board-designated reserves With donor restriction

TOTAL NET ASSETS TOTAL LIABILITIES AND NET ASSETS

$45,852,151 $153,588 $7,482,143 $7,774,551 ($2,679,450) $667,219 $362,371 $19,673 $81,129 $59,713,375

EXPENSES AND LOSSES

Program Services General and Administrative Fundraising Costs of direct benefits to donors Total Expenses Loss on disposal of property and equipment

$14,018,231 $451,047 $302,381 $152,944 $14,924,603 $-

INCREASE (DECREASE) IN NET ASSETS

$44,788,772

BEGINNING NET ASSETS

$100,749,531

ENDING NET ASSETS

$145,538,303

END OF YEAR | BY THE NUMBERS

TOTAL LIABILITIES $36,573,062

Net Assets

Contributions Rentals Investment Revenue Net realized/unrealized gain (loss) on investments Change in value of split interest agreements Special Events Foundation Fees, net Administrative fees and other revenues Other Total Revenue, Gains and Other Support

$128,573,986 $11,815,224 $5,149,093

$145,538,303 $182,111,365

$182.1M assets under management

636

charitable funds

STANDARDS OF EXCELLENCE We are committed to operating with the highest level of integrity to protect, steward, and grow charitable resources for the North Georgia region.

NGCF PROGRAMS | YEAR AT A GLANCE The NGCF Community Fund is the primary fund through which the North Georgia Community Foundation distributes grants to support nonprofit organizations and community initiatives across our region. In 2025, NGCF grant programs awarded $775,700 to help address local needs and strengthen the communities we serve.

North Georgia is always evolving, and so are its needs. The NGCF Community Fund was established as a permanent resource to serve our community year after year, responding to the most pressing issues facing our region today while preparing for the opportunities and challenges of tomorrow.

$545,200 TOTAL AWARDS

40 organizations 23 counties In addition to Community Grants, NGCF fundholders also funded 15 ADDITIONAL ORGANIZATIONS FOR $76,500

$200,000 TOTAL AWARDS

4 recipients $75k Boys & Girls Club of Lanier

$55k Cleveland Care Center

$40k J’s Place

$30k Catalyst Christian Learning Center

$30,500

DISCRETIONARY GRANTS

FCCF Milestone

$822,950 TOTAL AWARDS

1,793 applications 327 scholarships 73 colleges 17 states

Supporting Students Forward

From high school graduation through the college journey, scholarships reflect fundholders’ belief in the lasting impact of education.

While NGCF celebrated 40 years in 2025, its affiliate, the Forsyth County Community Foundation (FCCF), marked a milestone of its own—10 years of serving and strengthening Forsyth County. What began as a vision has grown into a powerful force for local philanthropy, connecting generosity with the nonprofits that serve the community and ensuring that giving remains rooted in Forsyth.

In this landmark year, FCCF received a transformational $2 million investment—made possible by a $1 million commitment from NGCF and a dollar-for-dollar match from longtime Forsyth County philanthropist, Tommy Bagwell.

This extraordinary support strengthened the FCCF Community Grant Endowment Fund and paved the way for FCCF’s first-ever community grant cycle, exclusively for Forsyth County nonprofits, launching in 2026—an exciting new chapter of impact for Forsyth County.

BEYOND THE DOLLARS

NGCF has long prioritized the growth and success of our nonprofit community. GROW, the umbrella for all of NGCF’s nonprofit educational programming, was officially established in 2017 and has continued to expand ever since. Today, GROW offers intentional programming for nonprofit leaders, staff, and board members, helping them strengthen their skills, support their organizations, and better serve our region.

45

136.5

158

classes offered

hours of educational opportunities

organizations served from 25 counties

329 meetings serving 6715 attendees

$77,675

in savings for local nonprofits

The Oak Society was created by the North Georgia Community Foundation (NGCF) to engage the next generation of Hall County in philanthropy. It brings together individuals who are passionate about giving back — combining their resources to make a greater collective impact. Together, members amplify their individual contributions to create larger, more meaningful grants that drive lasting change in our community.

FIRST-YEAR SUCCESS 73 MEMBERS Including 25 founding members

4 FOUNDING SPONSORS Bates Carter Carpenter & Fowler Wealth Management Group of Wells Fargo Advisors Rushton Turner, Wood & Smith Insurance

$10,000 + SHELTER DONATION DRIVE Gainesville Police Mental Health Clinician Program Inaugural grant recipient

REFLECTIONS FROM NGCF LEADERSHIP

A reflection from

NGCF President & CEO Michelle R. Prater As I reflect on 2025, I am filled with gratitude for the year behind us, for the people who have shaped the North Georgia Community Foundation, and for the remarkable community we are able to serve each day.

As we celebrated 40 years of impact and service, this milestone year gave us the opportunity to reflect on where we have been, celebrate how far we have come, and look ahead with enthusiasm.

Over the past decade, I have had the privilege of being part of NGCF’s remarkable growth. Our assets under management have increased from $46.1 million to $182.1 million, reflecting the trust our fundholders place in us to steward their giving. Continued investment in the NGCF Community Fund has expanded NGCF grantmaking from $24,500 in 2015 to $775,700 in 2025 — each number representing lives touched and communities strengthened.

Beyond financial growth, I am proud of how NGCF has evolved as a resource and connector for our region.

From nonprofit education and scholarships that open doors, to new initiatives like the Oak Society engaging the next generation of philanthropists, our work continues to grow. As our impact has expanded, so has our team — from four to ten — along with a new space to call home.

Already in awe over a great year, we experienced another extraordinary moment with the fulfillment of the largest gift in NGCF’s history, made possible through the generosity and vision of Anne and George Thomas. Their gift was a compelling example of how thoughtful planning and partnership can turn philanthropic vision into lasting impact.

A special team member milestone also occurred in 2025 with the recognition of Lisa Warwick’s 25-year anniversary as our Executive Vice President of Finance. Her knowledge and deep commitment have helped guide NGCF through decades of growth. Even as NGCF expanded in reach and impact, Lisa ensured we remained grounded and responsible stewards of the resources entrusted to us. Her legacy is woven into every milestone we celebrate.

That same spirit was on full display during our board retreat, where past, present, and future leaders gathered around a shared commitment to North Georgia. Seeing so many chapters of NGCF’s story represented — and remembering those no longer with us — was both humbling and inspiring.

As we close this annual report, I return to what has always defined NGCF: people — those who built this foundation, those who serve today, and those who will carry this work forward. I am deeply grateful to be part of this story and excited for all that lies ahead.

– For Good. For Ever.