Financial Reports

The Generosity of Our Region

Our Financial Information

Foundation For The Carolinas was established in 1958 with a $3,000 grant from the United Way. We are now the fastest-growing among the 800 community foundations in the United States, ranking fifth in asset size and among the top five in grantmaking and contributions to funds.

This growth is a testament to the charitable spirit of our more than 3,000 individual, corporate and nonprofit fundholders.

2024 Contributions, Grants and Assets

Year-to-Date Numbers (as of May 31, 2024)

  • Total Contributions to Funds: $356.6 million
  • Total Grants to Nonprofits: $328.2 million
  • Total Assets Owned by FFTC: $4.5 billion



Spendable Income Rate - Endowed & Quasi-Endowed Funds

Foundation For The Carolinas establishes its spendable income rate to balance your near-term spending requirements with the long-term preservation of capital in your fund.

In compliance with North Carolina law – and leveraging the financial expertise of our Investment Committee, Governing Board and Investment Consultant, Mercer – FFTC carefully considers several factors, including current and forecasted economic and market conditions, to determine its annual spendable income rate.

For 2024, the spendable income rate is 4.25%. Your spendable amount is calculated by multiplying this rate by the average daily balance of your fund over the previous three calendar years or since fund inception (for funds less than three years old). Please note: As described in its fund agreement, a fund may have an alternative distribution plan or a different spendable income rate than listed above.

FFTC’s full spendable policy is detailed in our Charitable Giving Guide. The FFTC Governing Board reviews the spendable income rate annually.

Audit Confirmations

Audit confirmations should be sent to

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