2023-11-02T08:28:30-05:00 2023-06-30 561031342 WILLIAMS OVERMAN PIERCE LLP 2501 ATRIUM DRIVE SUITE 500 RALEIGH NC 27607 990 2022-07-01 566049304 THE NORTH CAROLINA AGRICULTURAL FOUNDATION INC NORT 9195137149 NCSU BOX 7207 RALEIGH NC 276957207 ERIN DELEHANTY ASSISTANT TREASURER 9195137149 2023-11-01 1 ERIN DELEHANTY 999009999 0 MARYELLEN PRANCE CPA P01662078 9197823444 2023-11-01 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIN DELEHANTY NCSU BOX 7207 RALEIGH NC 276957207 23807936 0 X SEE SCHEDULE O X 1944 NC TO AID AND PROMOTE BY FINANCIAL ASSITANCE AND OTHERWISE ALL TYPES OF EDUCATION, RESEARCH, AND OTHER EXTENSION WITHIN THE COLLEGE OF AGRICULTURE AND LIFE SCIENCES AT NC STATE UNIVERSITY. 181 177 0 190 0 0 16609043 13914993 9153327 2044336 4205585 4320938 340914 499804 30308869 20780071 7774317 8261466 0 0 332109 380078 0 0 503496 15165847 10131499 23272273 18773043 7036596 2007028 248209354 251123547 5789529 7259224 242419825 243864323 TO AID AND PROMOTE BY FINANCIAL ASSISTANCE AND OTHERWISE ALL TYPES OF EDUCATION, RESEARCH, AND OTHER EXTENSION WITHIN THE COLLEGE OF AGRICULTURE AND LIFE SCIENCES AT NC STATE UNIVERSITY. 0 0 18158047 8261466 2044336 AIDS AND PROMOTES BY FINANCIAL ASSISTANCE AND OTHERWISE ALL TYPES OF EDUCATION, RESEARCH, AND OTHER EXTENSION WITHIN THE COLLEGE OF AGRICULTURE AND LIFE SCIENCES AT NC STATE UNIVERSITY. 18158047 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 181 177 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ERIN DELEHANTY 9195137149 NCSU BOX 7207 RALEIGH NC 27695 ALEX WATKINS DIRECTOR 1.00 X 0 0 0 AMY DALRYMPLE DIRECTOR 1.00 X 0 0 0 ANDREW BURLESON DIRECTOR 1.00 X 0 0 0 ANDREW EURE JR DIRECTOR 1.00 X 0 0 0 ANDY CURLISS DIRECTOR 1.00 X 0 0 0 ANTOINE MOORE DIRECTOR 1.00 X 0 0 0 ARCHIE GRIFFIN DIRECTOR 1.00 X 0 0 0 ASHLEY COLLINS DIRECTOR 1.00 X 0 0 0 AYDEN LEE JR DIRECTOR 1.00 X 0 0 0 BETH FARRELL DIRECTOR 1.00 X 0 0 0 BLAIR ROBERTSON DIRECTOR 1.00 X 0 0 0 BOB CREWS DIRECTOR 1.00 X 0 0 0 BOB FORD DIRECTOR 1.00 X 0 0 0 BONNIE HOLLOMAN DIRECTOR 1.00 X 0 0 0 BRAD HARGETT DIRECTOR 1.00 X 0 0 0 BRANDON YOUNG DIRECTOR 1.00 X 0 0 0 BRITTANY WHITMIRE DIRECTOR 1.00 40.00 X 0 88933 29335 BUNDY LANE DIRECTOR 1.00 X 0 0 0 CATHY WILKINS DIRECTOR 1.00 X 0 0 0 CHAD BENTON DIRECTOR 1.00 X 0 0 0 CHAD DOCSH DIRECTOR 1.00 X 0 0 0 CHARLES GLASS DIRECTOR 1.00 X 0 0 0 CHARLES HALL DIRECTOR 1.00 X 0 0 0 CHARLES KING DIRECTOR 1.00 X 0 0 0 CHARLIE WILKINSON DIRECTOR 1.00 X 0 0 0 CHARLOTTE VICK DIRECTOR 1.00 X 0 0 0 CHRISTIAN OVERTON DIRECTOR 1.00 X 0 0 0 CLAY HINNANT DIRECTOR 1.00 X 0 0 0 CLAY STRICKLAND DIRECTOR 1.00 X 0 0 0 COLTIN CARAWAY DIRECTOR 1.00 X 0 0 0 CONNIE SMITH DIRECTOR 1.00 X 0 0 0 CRAIG WEST DIRECTOR 1.00 X 0 0 0 CURT HONEYCUTT DIRECTOR 1.00 X 0 0 0 DAN WARREN DIRECTOR 1.00 X 0 0 0 DAVID ANDERSON DIRECTOR 1.00 X 0 0 0 DAVID CORRELL DIRECTOR 1.00 X 0 0 0 DAVID CORUM DIRECTOR 1.00 X 0 0 0 DAVID DAVENPORT DIRECTOR 1.00 X 0 0 0 DAVID HARTMAN DIRECTOR 1.00 X 0 0 0 DAVID HEATH DIRECTOR 1.00 X 0 0 0 DAVID PEELE DIRECTOR 1.00 X 0 0 0 DAVID RIVES DIRECTOR 1.00 X 0 0 0 DEBORAH JOHNSON DIRECTOR 1.00 X 0 0 0 EB HARRIS DIRECTOR 1.00 X 0 0 0 ED EMORY DIRECTOR 1.00 X 0 0 0 EDDIE JENNINGS DIRECTOR 1.00 X 0 0 0 EMILY NAIL DIRECTOR 1.00 X 0 0 0 EMMA WICKER DIRECTOR 1.00 X 0 0 0 ERICA PETERSON DIRECTOR 1.00 X 0 0 0 FRANK GRAINGER DIRECTOR 1.00 X 0 0 0 FRANKIE BEAMAN DIRECTOR 1.00 X 0 0 0 FRED PITTILLO DIRECTOR 1.00 X 0 0 0 GARY SIKES DIRECTOR 1.00 X 0 0 0 GENE WEST DIRECTOR 1.00 X 0 0 0 GEORGE SIMPSON DIRECTOR 1.00 X 0 0 0 GEORGIA LOVE DIRECTOR 1.00 X 0 0 0 GORDON NEVILLE DIRECTOR 1.00 X 0 0 0 GRAHAM BOYD DIRECTOR 1.00 X 0 0 0 HARVEY ROBERTS DIRECTOR 1.00 X 0 0 0 HEBER RESPASS DIRECTOR 1.00 X 0 0 0 HENRY COOK DIRECTOR 1.00 X 0 0 0 HENRY RAMSEUR DIRECTOR 1.00 X 0 0 0 JACOB PARKER DIRECTOR 1.00 X 0 0 0 JAMIE CRAFT DIRECTOR 1.00 X 0 0 0 JANE GARDNER DIRECTOR 1.00 X 0 0 0 JASON FARMER DIRECTOR 1.00 X 0 0 0 JAY DARDEN IV DIRECTOR 1.00 X 0 0 0 JEFF CHANDLER DIRECTOR 1.00 X 0 0 0 JEFF SMITH DIRECTOR 1.00 X 0 0 0 JEFF WILSON DIRECTOR 1.00 X 0 0 0 JENNIFER DANIELS DIRECTOR 1.00 X 0 0 0 JEREMY BALLARD DIRECTOR 1.00 X 0 0 0 JEREMY MARTIN DIRECTOR 1.00 40.00 X 0 68205 24288 JERRY HARDESTY DIRECTOR 1.00 X 0 0 0 JIM HUNT DIRECTOR 1.00 X 0 0 0 JIMMY GENTRY DIRECTOR 1.00 X 0 0 0 JOHN CLAPP DIRECTOR 1.00 X 0 0 0 JOHN SEMMES DIRECTOR 1.00 X 0 0 0 JONATHAN RENN DIRECTOR 1.00 X 0 0 0 JOSEPH DUPREE JR DIRECTOR 1.00 X 0 0 0 JOSEPH HIGHTOWER DIRECTOR 1.00 X 0 0 0 JULIUS TILLERY DIRECTOR 1.00 X 0 0 0 JUSTIN DALTON DIRECTOR 1.00 X 0 0 0 KARL GILLESPIE DIRECTOR 1.00 X 0 0 0 KATE BURGER DIRECTOR 1.00 X 0 0 0 KEATON VANDEMARK DIRECTOR 1.00 X 0 0 0 KEITH COLLINS DIRECTOR 1.00 X 0 0 0 KELLY ARCHAMBAULT DIRECTOR 1.00 X 0 0 0 KENNETH WRIGHT DIRECTOR 1.00 X 0 0 0 KIM LEQUIRE DIRECTOR 1.00 X 0 0 0 LARRY SYKES DIRECTOR 1.00 X 0 0 0 LARRY WOOTEN DIRECTOR 1.00 X 0 0 0 LESLIE COOK DIRECTOR 1.00 X 0 0 0 LINDA HARRIS DIRECTOR 1.00 X 0 0 0 LISA PRINCE DIRECTOR 1.00 X 0 0 0 LUKE BLIZZARD DIRECTOR 1.00 X 0 0 0 LUKE MATHIS DIRECTOR 1.00 X 0 0 0 MALARIE THOMPSON DIRECTOR 1.00 X 0 0 0 MALCOLM GIBBS DIRECTOR 1.00 X 0 0 0 MANDY HASTY DIRECTOR 1.00 X 0 0 0 MARGARET HAMM DIRECTOR 1.00 X 0 0 0 MARK POWELL DIRECTOR 1.00 X 0 0 0 MARTIN MCLEOD DIRECTOR 1.00 X 0 0 0 MATTHEW INMAN DIRECTOR 1.00 X 0 0 0 MATTHEW MINTMIER DIRECTOR 1.00 X 0 0 0 MELANIE KELLEY DIRECTOR 1.00 X 0 0 0 MICHAEL HARE DIRECTOR 1.00 X 0 0 0 MICHAEL SHAW DIRECTOR 1.00 X 0 0 0 MICHAEL SHIFLETT DIRECTOR 1.00 X 0 0 0 MICHELLE GRAINGER DIRECTOR 1.00 X 0 0 0 MIKE ELDER DIRECTOR 1.00 X 0 0 0 MIKE FULBRIGHT DIRECTOR 1.00 X 0 0 0 MILTON VAUGHAN DIRECTOR 1.00 X 0 0 0 NATHAN BENNETT DIRECTOR 1.00 X 0 0 0 NELSON POWELL DIRECTOR 1.00 X 0 0 0 NICK RHODES DIRECTOR 1.00 X 0 0 0 NORMAN HARRELL DIRECTOR 1.00 X 0 0 0 NORMAN MILLER JR DIRECTOR 1.00 40.00 X 0 87771 29046 OWEN WAGNER DIRECTOR 1.00 X 0 0 0 PARKER PHILIPS DIRECTOR 1.00 X 0 0 0 PAUL SHERMAN DIRECTOR 1.00 X 0 0 0 PETER DANIEL DIRECTOR 1.00 X 0 0 0 QUINN HOWARD DIRECTOR 1.00 X 0 0 0 RAY BEST DIRECTOR 1.00 X 0 0 0 RICK COOR DIRECTOR 1.00 X 0 0 0 ROB GLOVER DIRECTOR 1.00 X 0 0 0 ROBERT FLEMING JR DIRECTOR 1.00 X 0 0 0 ROBERT HOSFORD DIRECTOR 1.00 X 0 0 0 ROBERT MYERS DIRECTOR 1.00 X 0 0 0 ROBIN NICHOLSON DIRECTOR 1.00 X 0 0 0 RONALD HAWKINS DIRECTOR 1.00 X 0 0 0 RONNIE TRANTHAM DIRECTOR 1.00 X 0 0 0 ROY GORENA DIRECTOR 1.00 X 0 0 0 ROY LINDSEY DIRECTOR 1.00 X 0 0 0 SAM BRAKE JR DIRECTOR 1.00 X 0 0 0 SAM GROCE DIRECTOR 1.00 X 0 0 0 SANDY STEWART DIRECTOR 1.00 X 0 0 0 SARA HOUGH DIRECTOR 1.00 X 0 0 0 SCOTT GUPTON DIRECTOR 1.00 X 0 0 0 SCOTT PRESTAGE DIRECTOR 1.00 X 0 0 0 SCOTT WHITFORD DIRECTOR 1.00 X 0 0 0 SHANE MITCHELL DIRECTOR 1.00 X 0 0 0 SHARON ROGERS DIRECTOR 1.00 X 0 0 0 SHAWN HARDING DIRECTOR 1.00 X 0 0 0 SHERRY MCCOMAS DIRECTOR 1.00 X 0 0 0 STAN BICONISH DIRECTOR 1.00 X 0 0 0 STANLEY OLIVER DIRECTOR 1.00 X 0 0 0 STEVE GRIFFIN DIRECTOR 1.00 X 0 0 0 STEVE SORRELLS DIRECTOR 1.00 X 0 0 0 STEVE TROXLER DIRECTOR 1.00 X 0 0 0 STEVE WILSON DIRECTOR 1.00 X 0 0 0 SUSAN ROLLINS DIRECTOR 1.00 X 0 0 0 TATIANNA CAREY DIRECTOR 1.00 X 0 0 0 THOMAS DARK DIRECTOR 1.00 X 0 0 0 THOMAS SHAW DIRECTOR 1.00 X 0 0 0 TIMOTHY COOKE DIRECTOR 1.00 X 0 0 0 TOMMY BUNN DIRECTOR 1.00 X 0 0 0 TOMMY BURLESON DIRECTOR 1.00 X 0 0 0 TONY BURD DIRECTOR 1.00 X 0 0 0 VICTOR HUNT DIRECTOR 1.00 X 0 0 0 WALTER SMITH DIRECTOR 1.00 X 0 0 0 WANDA DENNING DIRECTOR 1.00 X 0 0 0 WAYNE WATSON DIRECTOR 1.00 X 0 0 0 WHITNEY KING DIRECTOR 1.00 X 0 0 0 WILBUR WARD DIRECTOR 1.00 X 0 0 0 WILLIAM KNOWLES DIRECTOR 1.00 X 0 0 0 ZACHARY TAYLOR DIRECTOR 1.00 X 0 0 0 ALAN AYERS EXECUTIVE COMMITTEE 1.00 X X 0 0 0 BRIAN WARREN EXECUTIVE COMMITTEE 1.00 X X 0 0 0 BRYAN BLINSON SECRETARY 1.00 X X 0 0 0 DEBBIE WORLEY ASSISTANT SECRETARY & EXECUTIVE COMMITTEE 1.00 X X 0 0 0 JOHNNY BARNES CHAIR; EXECUTIVE COMMITTEE 1.00 X X 0 0 0 KELLY POWELL-MCIVER PAST CHAIR 1.00 X X 0 0 0 KENDALL HILL EXECUTIVE COMMITTEE 1.00 X X 0 0 0 MARK WELLONS EXECUTIVE COMMITTEE 1.00 X X 0 0 0 PAUL TALLEY EXECUTIVE COMMITTEE 1.00 X X 0 0 0 PAULA WOODALL ASSISTANT TREASURER 1.00 X X 0 0 0 RICHARD RENEGAR EXECUTIVE COMMITTEE 1.00 X X 0 0 0 SAMUEL DAVIS EXECUTIVE COMMITTEE 1.00 X X 0 0 0 THOMAS JOYNER VICE-CHAIRMAN 1.00 X X 0 0 0 ZANE HEDGECOCK EXECUTIVE COMMITTEE 1.00 X X 0 0 0 DANA HARRIS TREASURER 1.00 X 0 0 0 ERIN DELEHANTY ASSISTANT TREASURER 1.00 40.00 X 0 178758 51157 KATHY KENNEL ASSISTANT SECRETARY 1.00 40.00 X 0 133231 25476 SONIA MURPHY PRESIDENT 1.00 40.00 X 0 209373 35634 MARY PELOQUIN-DODD FORMER TREASURER 1.00 40.00 X 0 290924 44428 0 1057195 239364 0 1 1 0 0 188656 449803 13276534 917128 13914993 PROGRAM REVENUES 611710 2044336 2044336 2044336 962060 962060 275148 275148 6118325 2759447 3358878 3358878 3358878 493074 188656 268418 224656 224656 20780071 2044336 0 4820742 8261466 8261466 380078 380078 14598 1996 12602 111500 111500 156520 148313 8207 136616 131072 5544 133190 132772 418 1223851 1222291 1560 279172 277102 2070 22538 22538 41526 9052 32474 CAPITAL TRANSFERS 2704459 2704459 SERVICES AND FEES 2611620 2599597 12023 SUPPLIES 1149038 1143517 5521 EQUIP RENTAL & MAINTENA 629353 625097 4256 917518 878775 38743 18773043 18158047 111500 503496 55827733 58731939 3278258 2412703 367292 1093841 32243180 193993 32071725 32049187 156643834 156815365 20512 20512 248209354 251123547 368582 26119 7410 156955 5413537 7076150 5789529 7259224 X 238208391 4694604 4211434 239169719 242419825 243864323 248209354 251123547 X 2007028 -1130387 567857 X X 0 1 X 1 1 1 X 13730228 14314924 16727541 16609043 13914993 75296729 13730228 14314924 16727541 16609043 13914993 75296729 3325328 71971401 1530003 1550507 1182860 730227 1237208 6230805 81527534 50454041 0.88280 0.91770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 4 428.00 1 1 40.00 178107281 3221261 2049445 4509662 178868325 163345531 16073425 2892599 4204274 178107281 125746337 2546598 39842631 4790035 163345531 124971007 2315894 1853527 3394091 125746337 120164624 2029266 6024538 3247421 124971007 0.01762 0.61368 0.36871 0 0 31998199 31998199 244981 193993 50988 32049187 NC STATE INVESTMENT FUND 149403236 F LIFE INCOME FUNDS 7408313 F STIF 3816 F 156815365 LIFE INCOME FUNDS PAYABLE 4193850 DUE TO OTHERS 65204 AGENCY FUNDS HELD IN CUSTODY FOR OTHERS 205645 DUE TO ASSOCIATED ENTITIES 2611451 7076150 X 22938578 -1130387 2457000 831894 2158507 20780071 0 20780071 21498461 2457000 268418 2725418 18773043 0 18773043 PART II, LINE 9: DONATED EASEMENTS ARE STATED AT FAIR VALUE AS OF THE DATE OF DONATION. THE ORGANIZATION HOLDS CONSERVATION EASEMENTS FOR WHICH IT MAY HAVE FUTURE COMMITMENTS FOR AN UNDETERMINABLE AMOUNT. THE PURPOSE OF THESE CONSERVATION EASEMENTS IS TO MAINTAIN WETLAND AND/OR RIPARIAN RESOURCES AND OTHER NATURAL VALUES AND PREVENT THE USE OR DEVELOPMENT FOR ANY PURPOSE OR IN ANY MANNER THAT WOULD CONFLICT WITH THE MAINTENANCE OF THE PROPERTIES IN THEIR NATURAL CONDITIONS. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF 810 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES RELATED TO THE FOUNDATION'S MISSION OF THE UNIVERSITY. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO TAX YEAR 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPLIT INTEREST CHANGE 563,476. FUNDRAISING EXPENSES NETTED WITH REVENUE 268,418. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH REVENUE 268,418. MOONLIGHT IN THE GARDEN 300785 300785 80039 20749 2000 25476 RAULSTON BLOOMS 87556 87556 343 700 25617 9 293389 188656 104733 21187 26307 14128 51872 681730 188656 493074 101569 47756 41745 77348 268418 224656 1 NORTH CAROLINA STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 170(C)(1) 8261466 0 BOOK N/A SCHOLARSHIPS, FACULTY SUPPORT, DEPARTMENTAL SUPPORT AND FACILITY SUPPORT 1 PART I, LINE 2: GRANTS REPRESENT REIMBURSEMENT OF EXPENSES PROCESSED THROUGH THE UNIVERSITY'S ACCOUNTING SYSTEMS, AND ARE SUBJECT TO UNIVERSITY AND STATE OF NORTH CAROLINA GUIDELINES, IN ADDITION TO ANY RESTRICTIONS PLACED DIRECTLY BY DONORS. X 0 0 0 0 0 0 0 0 0 MARY PELOQUIN-DODD FORMER TREASURER 0 290924 0 0 0 0 0 38597 0 5831 0 335352 0 0 SONIA MURPHY PRESIDENT 0 209373 0 0 0 0 0 27923 0 7711 0 245007 0 0 ERIN DELEHANTY ASSISTANT TREASURER 0 178758 0 0 0 0 0 43446 0 7711 0 229915 0 0 KATHY KENNEL ASSISTANT SECRETARY 0 133231 0 0 0 0 0 17765 0 7711 0 158707 0 0 SCHEDULE J, PART II - COMPENSATION FROM RELATED ORGANIZATIONS THE BOARD MEMBERS THAT ARE COMPENSATED RECEIVE COMPENSATION FROM NC STATE UNIVERSITY, A 170(C)(1) ORGANIZATION RELATED TO THE NORTH CAROLINA AGRICULTURAL FOUNDATION, INC. X 14 917128 FMV 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIRMAN AND THE IMMEDIATE PAST CHAIRMAN OF THE FOUNDATION, PRESIDENT OF THE NORTH CAROLINA FARM BUREAU FEDERATION OR THE FEDERATION'S REPRESENTATIVE, AND SIXTEEN MEMBERS OF THE BOARD OF DIRECTORS (FOUR MEMBERS ELECTED TO FOUR YEAR TERMS EACH YEAR). THE PAST CHAIRMAN OF THE FOUNDATION SHALL BE NON-VOTING MEMBER OF THE EXECUTIVE COMMITTEE AND SERVE IN AN ADVISORY CAPACITY ONLY, UNLESS THE PAST CHAIRMAN IS ALSO A MEMBER OF THE BOARD IN WHICH CASE THAT INDIVIDUAL WILL BE A VOTING MEMBER OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL EXERCISE ALL OF THE POWERS OF THE FOUNDATION IN THE INTERIM BETWEEN MEETINGS OF THE BOARD, INCLUDING ALL OF THE POWERS THAT HAVE BEEN CONFERRED UPON IT OR UPON THE BOARD, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL HAVE NO POWER OR AUTHORITY TO (A) AUTHORIZE DISTRIBUTIONS; (B) APPROVE DISSOLUTION, MERGER OR SALE, PLEDGE OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE FOUNDATION'S ASSETS; (C) ELECT, APPOINT OR REMOVE DIRECTORS, FILL VACANCIES ON THE BOARD OR ANY OF ITS COMMITTEES; OR (D) ADOPT, AMEND OR REPEAL THE ARTICLES OF INCORPORATION OR BYLAWS. FORM 990, PART VI, SECTION A, LINE 4 BYLAWS WERE AMENDED DURING THE 2023 FISCAL YEAR AS FOLLOWS: ARTICLE III SECTION 1(C) SEVENTEEN (17) EX-OFFICIO MEMBERS WITH VOTING POWER ON THE BOARD..... ARTICLE III SECTION 1(C) ONE (1) REPRESENTATIVE NAMED ANNUALLY BY THE NC DAIRY PRODUCERS ASSOCIATION AND..... ARTICLE III SECTION 1(F) TWELVE (12) MEMBERS REPRESENTING DAIRY INTERESTS, AS NOMINATED BY THE NOMINATING COMMITTEE OF THE NORTH CAROLINA AGRICULTURAL FOUNDATION, INC., WHO ARE ELECTED FOR A FOUR (4) YEAR TERM. THESE MEMBERS SHALL INCLUDE, AT A MINIMUM, REPRESENTATION OF FOUR (4) PRODUCERS, TWO (2) PROCESSORS AND TWO (2) MEMBERS OF THE SUPPLY INDUSTRY. ARTICLE III SECTION 1(G) FOUR (4) NON-VOTING MEMBERS REPRESENTING DAIRY INTERESTS. THESE SHALL INCLUDE THREE (3) EX-OFFICIO NON-VOTING MEMBERS: THE DIRECTOR OF THE NC STATE UNIVERSITY DAIRY ENTERPRISE SYSTEM; THE HEAD, DEPARTMENT OF FOOD, BIOPROCESSING AND NUTRITION SCIENCES (FBNS); AND THE HEAD, DEPARTMENT OF ANIMAL SCIENCE. THE FOURTH NON-VOTING MEMBER SHALL REPRESENT DAIRY AND SWEET ACIDOPHILUS INTERESTS AND SHALL BE APPOINTED BY THE HEAD, FBNS. ARTICLE V SECTION 3 ...THREE (3) MEMBERS REPRESENTING DAIRY INTERESTS, ONE (1) INDIVIDUAL WHO SHALL BE APPOINTED ANNUALLY BY THE NORTH CAROLINA..... ARTICLE V SECTION 5 THE BOARD OF DIRECTORS SHALL APPOINT A DAIRY COMMITTEE, WHICH SHALL BE COMPOSED OF THE TWELVE (12) VOTING MEMBERS REPRESENTING THE DAIRY INDUSTRY AS REFERENCED IN ARTICLE III, SECTION 1.F, ONE (1) EX-OFFICIO NC DAIRY PRODUCERS ASSOCIATION REPRESENTATIVE AS REFERENCED IN ARTICLE III, SECTION 1.C.; AND FOUR (4) NON-VOTING MEMBERS AS REFERENCED IN ARTICLE III, SECTION 1.G. THE DAIRY COMMITTEE, SO APPOINTED, SHALL REVIEW UNASSIGNED FUNDS RECEIVED BY THE FOUNDATION RESTRICTED FOR DAIRY RELATED ACTIVITIES AND APPROVE PROJECT AWARDS. FORM 990, PART VI, SECTION B, LINE 11B DRAFT 990 IS DISTRIBUTED TO BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C NC AGRICULTURAL FOUNDATION WILL ESTABLISH AND MAINTAIN CONFLICT OF INTEREST AND ETHICS POLICIES PERTAINING TO ITS RELATIONSHIP WITH NC STATE, MEMBERS OF THE GOVERNING BOARD OF NC AGRICULTURAL FOUNDATION, AND PERSONS DOING BUSINESS WITH NC AGRICULTURAL FOUNDATION AND ESTABLISHING REQUIRED ETHICAL STANDARDS FOR THE MEMBERS OF THE GOVERNING BOARD OF THE NC AGRICULTURAL FOUNDATION. SUCH POLICIES SHALL PROVIDE THAT (A) ALL TRANSACTIONS (OTHER THAN EXPENSE REIMBURSEMENTS) BETWEEN NC AGRICULTURAL FOUNDATION AND AN OFFICER, DIRECTOR, OR EMPLOYEE OF NC AGRICULTURAL FOUNDATION MUST BE APPROVED BY THE BOARD OF NC AGRICULTURAL FOUNDATION; (B) NO OFFICER, DIRECTOR OR EMPLOYEE OF NC AGRICULTURAL FOUNDATION HAVING A PRIVATE BUSINESS INTEREST IN A NC AGRICULTURAL FOUNDATION BUSINESS TRANSACTION MAY BE INVOLVED IN THE DECISION WITH RESPECT TO WHETHER NC AGRICULTURAL FOUNDATION SHOULD ENTER INTO SUCH TRANSACTION; (C) NO NC AGRICULTURAL FOUNDATION SCHOLARSHIP OR FELLOWSHIP AWARD MAY BE MADE TO AN OFFICER, DIRECTOR, OR EMPLOYEE OF NC AGRICULTURAL FOUNDATION OR TO A FAMILY MEMBER OF SUCH PERSON UNLESS THE RECIPIENT OF THE AWARD IS DETERMINED BY AN INDEPENDENT AWARDS COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS AND OFFICERS OF THE NORTH CAROLINA AGRICULTURAL FOUNDATION THAT DO RECEIVE COMPENSATION ARE COMPENSATED BY NC STATE UNIVERSITY, A 170(C)(1) ORGANIZATION RELATED TO THE NORTH CAROLINA AGRICULTURAL FOUNDATION. NC STATE UNIVERSITY SETS THE COMPENSATION OF THESE EMPLOYEES BY ACQUIRING COMPARABILITY DATA WHICH IS REVIEWED AND APPROVED BY INDEPENDENT PERSONS WITH CONTEMPORANEOUS SUBSTANTIATION OF THE DECISION. FORM 990, PART VI, SECTION C, LINE 18 THE 990 IS LISTED ON THE WEBSITE. FORM 1023 (WHICH WAS FILED PRIOR TO JULY 15, 1987) IS NOT PUBLICLY AVAILABLE. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE: HTTP://FOUNDATIONSACCOUNTING.OFA.NCSU.EDU/FOUNDATIONS/NORTH-CAROLINA-AGRICUL TURAL-FOUNDATION-INC/. OTHER GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER TO OTHER UNIVERSITY AFFILIATES 4,381. SPLIT INTEREST CHANGE 563,476. FORM 990 PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. PAGE 1, ITEM J- WEBSITE HTTP://FOUNDATIONSACCOUNTING.OFA.NCSU.EDU/FOUNDATIONS/ NORTH-CAROLINA-AGRICULTURAL-FOUNDATION-INC NORTH CAROLINA STATE UNIVERSITY FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 566049503 SUPPORTS THE VARIOUS COLLEGES WITHIN THE UNIVERSITY NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 NC STATE INVESTMENT FUND INC NCSU BOX 7207 RALEIGH NC 27695 311607634 INVEST FUNDS OF NC STATE UNIVERSITY ENDOWMENT AND RELATED FOUNDATIONS NC 501(C)(3) 509(A)(3) N/A 0 NORTH CAROLINA STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 EDUCATION NC 170(C)(1) N/A 0 NORTH CAROLINA VETERINARY MEDICAL FOUNDATION NCSU BOX 7207 RALEIGH NC 27695 581344473 PROVIDES FINANCIAL SUPPORT IN THE FIELD OF VETERINARY MEDICINE AT NCSU NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 NC STATE UNIVERSITY ALUMNI ASSOCIATION NCSU BOX 7207 RALEIGH NC 27695 566035544 PROMOTES ALUMNI AFFAIRS & AWARENESS OF NCSU IN THE COMMUNITY NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 NC STATE UNIVERSITY COLLEGE OF SCIENCES FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 581524289 SUPPORTS THE COLLEGE OF SCIENCES AT NCSU NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 NC STATE ENGINEERING FOUNDATION NCSU BOX 7207 RALEIGH NC 27695 566046987 SUPPORTS THE COLLEGE OF ENGINEERING AT NCSU NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 NC STATE NATURAL RESOURCES FOUNDATION NCSU BOX 7207 RALEIGH NC 27695 560653350 SUPPORT ORGANIZATION OF NC STATE UNIVERSITY NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 NC STATE UNIVERSITY PARTNERSHIP CORPORATION NCSU BOX 7207 RALEIGH NC 27695 561444287 SUPPORT ORGANIZATION OF NC STATE UNIVERSITY NC 501(C)(3) 509(A)(3) N/A 0 NC STATE UNIVERSITY STUDENT AID ASSOCIATION PO BOX 37100 RALEIGH NC 27627 560650623 SUPPORTS ATHLETIC PROGRAM AT NCSU NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 NORTH CAROLINA TEXTILE FOUNDATION NCSU BOX 8301 RALEIGH NC 27695 566045324 AIDS EDUCATION & RESEARCH IN THE COLLEGE OF TEXTILES OF NCSU NC 501(C)(3) 170(B)(1)(A)(IV) N/A 0 CHARITABLE REMAINDER TRUSTS (15) ASSET INVESTMENT NC N/A T 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1