Foundation for the Carolinas CEO salary and executive pay
Foundation for the Carolinas paid its CEO, Cathy Bessant, $737,104 for the fiscal year ending December 2024. On the return for the fiscal year ending December 2023, the CEO was Michael Marsicano, paid $958,170. Total revenue on that return was $761,389,623, up 41.5% from $538,046,453 for the fiscal year ending December 2023. Foundation for the Carolinas ranks 13th of 18 foundations and grantmakers on this site by CEO pay. Foundation for the Carolinas has 3 Form 990 returns on record, for fiscal years ending 2022 to 2024.
Last updated from IRS e-file data. EIN 56-6047886, Charlotte, NC.
CEO, fiscal year ending December 2024
$737,104
Also listed with a chief executive title on this filing: Laura Yates Clark (PRESIDENT), $234,479.
- Total revenue
- $761,389,623
- CEO pay vs. peers
- Higher than 26%
Source: Form 990, fiscal year ending December 2024, IRS object ID 202543219349306689.View the filing
Peers: the 330 other organizations on this site with revenue of $500 million to $5 billion. Ranked 243rd of 331 by top pay as a share of revenue. Pay is 0.10% of revenue, our calculation from the same return. Revenue is Part I, line 12; peers are compared on their latest full-year returns.
Highest-paid people on the latest return
On the latest return, 1 person was paid more than $500,000 and no one more than $1 million.
| Name and title | Total |
|---|---|
| Cathy Bessant CEO CEO | $737,104 |
| Laura SmithFORMER COO | $440,043 |
| Blair StanfordCELC EXECUTIVE DIRECTOR | $333,692 |
| Douglas W BensonCHIEF ADMINISTRATIVE AND CHIEF RISK OFFICER (SECRE | $305,316 |
| Alyssa FedericoCHIEF FINANCIAL OFFICER (TREASURER) | $274,535 |
Also paid on the latest return: Nikhil Sawant (CIO (THRU 3/1/24)), $270,775; Evan N Wolkofsky (GENERAL COUNSEL (ASST SECRETARY)), $270,575; Munro C Richardson (READ CHARLOTTE EXECUTIVE DIRECTOR), $262,315; Federico G Rios (SVP, CIVIC LEADERSHIP), $261,583; Elizabeth Kiser (CHIEF PHILANTHROPY OFFICER), $259,934; Laura Yates Clark (PRESIDENT), $234,479; Sherri S Chisholm (LOO EXECUTIVE DIRECTOR), $230,333; Tara Keener (CHIEF MARKETING OFFICER (ASST SECRETARY)), $205,179; Sean Seifert (CAROLINA THEATRE EXECUTIVE), $190,559; Robin Barefoot (ASSOCIATE COUNSEL), $180,671.
Also listed in Part VII of the latest return, with no pay reported: Arrington Mixon (CHAIR), Marian Steele Clark (DIRECTOR), Kieth Cockrell (CHAIR ELECT), Malcomb Coley (DIRECTOR), Sharyn Ellison (DIRECTOR), Betsy Fleming (DIRECTOR), Lynn Good (DIRECTOR), Todd Gorelick (DIRECTOR), Jada Grandy-Mock (DIRECTOR), Kelly Katterhagen (DIRECTOR), Susan Kluttz (DIRECTOR), Ralph Lopez-Massas (DIRECTOR), Tropzie McCluney (DIRECTOR), Gene McLaurin (DIRECTOR), Tom Nelson (DIRECTOR), Edward Serna (DIRECTOR), Fred Whitfield (DIRECTOR), Bill Martin (DIRECTOR), Asha Rodriguez (DIRECTOR).
CEO pay by year
Each row is the CEO on that year's return.
| Fiscal year ending | Name and title | Total | Revenue | Source |
|---|---|---|---|---|
| Dec 2024 | Cathy Bessant CEO CEO | $737,104 | $761,389,623 | Filing |
| Dec 2023 | Michael Marsicano CEO PRESIDENT & CEO (THRU 1/7/23) | $958,170 | $538,046,453 | Filing |
| Dec 2022 | Michael Marsicano CEO PRESIDENT & CEO | $898,324 | $953,517,849 | Filing |
How this pay was reported
The parts of each total, as reported on the return for the fiscal year ending December 2024.
Source: Form 990, fiscal year ending December 2024, IRS object ID 202543219349306689.View the filing
| Part VII | Schedule J | |||||||
|---|---|---|---|---|---|---|---|---|
| Name and title | From org | Other | Base | Bonus | Other | Deferred | Nontaxable | Total |
| Cathy BessantCEO | $571,104 | $166,000 | $568,363 | $0 | $2,741 | $166,000 | $0 | $737,104 |
| Laura SmithFORMER COO | $436,231 | $3,812 | $436,117 | $0 | $114 | $3,669 | $143 | $440,043 |
| Blair StanfordCELC EXECUTIVE DIRECTOR | $267,230 | $66,462 | $265,295 | $0 | $1,935 | $46,000 | $20,462 | $333,692 |
| Douglas W BensonCHIEF ADMINISTRATIVE AND CHIEF RISK OFFICER (SECRE | $258,355 | $46,961 | $257,320 | $0 | $1,035 | $41,400 | $5,561 | $305,316 |
| Alyssa FedericoCHIEF FINANCIAL OFFICER (TREASURER) | $228,615 | $45,920 | $227,580 | $0 | $1,035 | $41,004 | $4,916 | $274,535 |
These figures come from Foundation for the Carolinas' Form 990 returns, as the IRS publishes them. The methodology page explains how they're chosen. To report an error, email corrections@ceopaycheck.com.
How Foundation for the Carolinas compares
Ranked 13th of 18 foundations and grantmakers by CEO pay.
- Previous in this ranking: 12th, Rockefeller Philanthropy Advisors, $747,111
- Next in this ranking: 14th, Marin Community Foundation, $732,783
Closest in revenue among organizations in the same revenue band:
Public Health Management Corporation$974,587 (CEO), fiscal year ending Jun 2025
Doctors Without Borders USA$386,961 (CEO), fiscal year ending Dec 2024
Plan International$168,840 (CEO), fiscal year ending Jun 2025
NMDP$2,152,247 (CEO), fiscal year ending Sep 2025
Vitalant$1,802,965 (CEO), fiscal year ending Dec 2024
Common questions
Cathy Bessant (CEO) was paid $737,104 for the fiscal year ending December 2024: $571,104 from Foundation for the Carolinas and $166,000 in other compensation (Part VII columns D and F).
The CEO, Cathy Bessant, was the highest-paid person on the latest return, at $737,104.
Foundation for the Carolinas paid its CEO, Cathy Bessant, $737,104 for the fiscal year ending December 2024. On the return for the fiscal year ending December 2023, the CEO was Michael Marsicano, paid $958,170. The earliest return on record is for the fiscal year ending December 2022, when the CEO was Michael Marsicano, paid $898,324. By fiscal year end: December 2022, $898,324 (Michael Marsicano); December 2023, $958,170; December 2024, $737,104 (Cathy Bessant).
Foundation for the Carolinas' return for the fiscal year ending December 2024 reports total expenses of $849,185,395 and total revenue of $761,389,623 (Part I, lines 18 and 12), so expenses exceeded revenue by $87,795,772. Expenses were $582,472,149 for the fiscal year ending December 2023, so they rose 45.8%. The CEO's pay of $737,104 equals 0.09% of expenses, our calculation.
From the 3 Form 990 returns Foundation for the Carolinas filed with the IRS for fiscal years ending 2022 to 2024. The latest full-year return was filed on November 17, 2025. Schedule J of the fiscal year ending December 2024 return breaks down pay for all 5 people in the pay breakdown above.