True Homes Foundation Inc
True Homes Foundation Inc is a corporate foundation based in Monroe, North Carolina, established in 2020. The foundation is structured as a 501(c)(3) organization with an EIN of 82-2936594. It operates with zero employees and focuses on grantmaking activities related to housing, community development, and charitable giving.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$4.6M
-0.9% YoY
Annual Giving
$499K
-9.8% YoY
Grant Count
162
-8.0% YoY
Avg Grant Size
$3K
-2.0% YoY
Mission & Focus Areas
The foundation's impact statement emphasizes: "To provide the opportunity for more life within the communities we serve."
Primary funding focus areas include:
- Housing and affordable housing solutions
- Women's shelters and supportive housing
- Faith-based organizations and religious causes
- Philanthropy, voluntarism, and grantmaking
- Human services
Grantmaking
The foundation operates a matching gift program that amplifies employee charitable contributions. In 2024, True Homes associates donated $32,943 to over 150 local charities, which the foundation matched at a 4:1 ratio, contributing an additional $164,716 for a combined impact of $197,659.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in:
- North Carolina
- South Carolina
- Illinois
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 31, 2024:
- Total assets: $4,560,536
- Total revenues: $624,314
- Total expenses: $550,074
- Total grants, contributions received: $429,375
- Investment income and dividends: $180,791
- Net rental income: $14,148
Year-over-year changes (2024 vs. 2023):
- Total revenues decreased 30.9% ($903,490 in 2023)
- Grants and contributions decreased 43.9% ($765,287 in 2023)
- Investment income increased 46.3% ($123,570 in 2023)
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $4,560,536 | $4,599,675 | $4,286,021 |
| Revenue | $624,314 | $903,490 | $2,569,349 |
| Expenses | $550,074 | $714,351 | $589,117 |
| Qualifying Distributions | $498,582 | $552,615 | $507,597 |
| Net Investment Income | $194,939 | $138,203 | $15,251 |
| Distributable Amount | $206,089 | $190,194 | $148,014 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Principal Officer: David Cuthbertson
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| G DAVID CUTHERBERSTON | BOARD CHAIR | 0.25 | — |
| MARK W BOYCE | VICE PRESIDENT/SECRETARY | 0.25 | — |
| DANIEL HORNER | PRESIDENT | 0.25 | — |
| STEVE SWEETSER | TREASURER | 0.25 | — |
Recent News & Activity
Recent developments and announcements
The foundation has been active in community partnerships and housing initiatives:
Participation in the "Doorway to Prosperity" program, which provides affordable homeownership opportunities to households earning less than 110% of area median income, with priority focus on those at 80% and below. Since 2022, the program has provided 94 affordable homes.
Collaboration with Veterans Bridge Home and Truist on a pathway to homeownership grant program for veterans.
Veterans Bridge Home, True Homes And Truist Launch Pathway To HomeownershipSupport for community recovery initiatives in Western North Carolina through partnerships with major retailers.
True Homes to Support Community Recovery in WNC Through Lowe\u2019s InitiativeSubject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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