2023-11-15T14:49:51-06:00 2023-06-30 440160260 FORVIS LLP 1829 EASTCHESTER DRIVE HIGH POINT NC 27265 990 2022-07-01 566064850 UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS FOUNDATION INC UNIV 3367703333 1533 SOUTH MAIN STREET WINSTONSALEM NC 27127 JULIE WILLIAMS TREASURER 3367703333 2023-11-14 1 JULIE WILLIAMS 999009999 1 BRIAN L DOUD P01748393 3368895156 2023-11-14 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z CYNTHIA LIBERTY 1533 SOUTH MAIN STREET WINSTONSALEM NC 27127 7254667 0 X WWW.UNCSA.EDU/GIVING/FOUNDATION X 1964 NC TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE UNCSA 25 25 1 25 0 0 2865394 6657876 0 0 40711 394208 263414 202583 3169519 7254667 3086373 3043973 0 0 1282490 1251173 0 0 342614 2991995 2467845 7360858 6762991 -4191339 491676 99229839 99390912 108945 89033 99120894 99301879 X UNCSA FOUNDATION'S PRIMARY PURPOSE IS TO FINANCIALLY SUPPORT THE ADVANCEMENT AND ACHIEVEMENT OF THE STUDENTS, FACULTY, AND STAFF OF THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS. THE UNCSA FOUNDATION STRIVES TO SUPPORT THE STRATEGIC INITIATIVES OF THE UNCSA. 0 0 5499225 3043973 THE UNCSA FOUNDATION, INC. COORDINATES THE FUNDING OF THE UNCSA'S PROGRAMS, SCHOLARSHIPS, AND GUEST ARTISTS. THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS ("UNCSA") IS DEDICATED ENTIRELY TO THE PROFESSIONAL TRAINING OF THE STUDENTS POSSESSING EXCEPTIONAL TALENTS IN PERFORMING, VISUAL, AND MOVING IMAGE ARTS. UNCSA IS COMMITTED TO THE IDEA THAT ART COMBINES CRAFT, IMAGINATION, PASSION AND INTELLECT. SCHOLARSHIPS CAN BE AWARDED BASED ON TALENT, DEMONSTRATED NEED, OR A COMBINATION OF BOTH. UNCSA PROVIDES STUDENTS WITH THE INVALUABLE EXPERIENCE OF WORKING WITH MANY INTERNATIONALLY RENOWNED ARTISTS WHO TEACH MASTER CLASSES, WORK ONE-ON-ONE WITH STUDENTS IN COACHING SESSIONS, AND TEACH CLASSES. UNCSA STRIVES TO IMPROVE THE CULTURE OF NORTH CAROLINA THROUGH COMMUNITY ENGAGEMENT TO FURTHER THE ADVANCEMENT OF THE ARTS. 5499225 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 166 0 1 1 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD MN NH NJ OH SC UT X CINDY LIBERTY 3367703333 1903 SOUTH MAIN STREET WINSTONSALEM NC 27127 ANDREW SCHNEIDER BOARD MEMBER 1.00 X 0 0 0 ANNE SESSIONS BOARD MEMBER 1.00 X 0 0 0 ARTHUR L BLOOM BOARD MEMBER 1.00 X 0 0 0 BETTYE BARRETT BOARD MEMBER 1.00 X 0 0 0 CHRISTOPHER J CHAPMAN BOARD MEMBER 1.00 X 0 0 0 CHRYSTAL PARNELL BOARD MEMBER 1.00 X 0 0 0 CRAIG D CANNON BOARD MEMBER 1.00 X 0 0 0 DAVID P BROUGHTON PRESIDENT 1.00 X X 0 0 0 ERIN JONES ADAMS SECRETARY 1.00 X X 0 0 0 HOWARD UPCHURCH BOARD MEMBER 1.00 X 0 0 0 JAMES RUFFIN BOARD MEMBER 1.00 X 0 0 0 JONATHAN COCHRANE BOARD MEMBER 1.00 X 0 0 0 JOSEPH P LOGAN BOARD MEMBER 1.00 X 0 0 0 JULIE WILLIAMS TREASURER 1.00 X X 0 0 0 KELLEY KENNER-PATRIDGE BOARD MEMBER 1.00 X 0 0 0 LAURA RAMSAY BOARD MEMBER 1.00 X 0 0 0 MEADE WILLIS BOARD MEMBER 1.00 X 0 0 0 MELINDA B MUELLER ASSISTANT TREASURER 1.00 X X 0 0 0 ROBERT L KING III BOARD MEMBER 1.00 X 0 0 0 ROBERT S SIMON BOARD MEMBER 1.00 X 0 0 0 SCOTT CAWOOD BOARD MEMBER 1.00 X 0 0 0 SHELLEY HOLDEN BOARD MEMBER 1.00 X 0 0 0 STACY PETRONZIO BOARD MEMBER 1.00 X 0 0 0 STEPHEN BERLIN BOARD MEMBER 1.00 X 0 0 0 WILLIAM R WATSON VICE PRESIDENT 1.00 X X 0 0 0 CYNTHIA B LIBERTY EXECUTIVE DIRECTOR 45.00 X 171250 0 20236 171250 0 20236 1 0 1 0 0 6657876 6657876 394208 394208 MISCELLANEOUS INCOME 900099 202583 202583 202583 7254667 202583 0 394208 2948413 2948413 95560 95560 191487 19149 114892 57446 1059686 707620 352066 53334 53334 37700 37700 236312 236312 446899 442699 4200 15485 13284 200 2001 330023 127073 13365 189585 35580 5111 30469 227496 160722 2209 64565 78616 43375 6224 29017 21340 1954 19386 EDUCATIONAL MATERIALS 266632 266632 CURRENT SERVICES 188644 188644 GUEST ARTISTS 186767 185524 1243 GIFTS & ENTERTAINMENT 147041 145874 1167 195976 147591 48385 6762991 5499225 921152 342614 14229496 15879570 1368754 2939225 30966 8337 41707 30074 52442 47442 52442 82989766 80155390 28545 12799 493163 313075 99229839 99390912 56372 55564 52573 33469 108945 89033 X 2204393 1802753 96916501 97499126 99120894 99301879 99229839 99390912 X 491676 -130633 -180058 X X 0 1 X 1 0 X 14595449 5355133 4179914 2921703 6657876 33710075 14595449 5355133 4179914 2921703 6657876 33710075 13156443 20553632 221883 179338 22236 40711 394208 858376 274295 176713 127429 207105 202583 988125 35556576 0.57810 0.59080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 86407427 559526 -133036 2667873 236312 83929732 85040324 441647 3796960 2532007 339498 86407426 61863590 895041 24635492 2052154 301645 85040324 62156217 1431800 1430561 2900869 254119 61863590 51022834 8990357 3798258 1416231 239001 62156217 1.00000 1 0 52442 52442 52442 UNC MANAGEMENT FUND OTHER 28510157 C UNC MANAGEMENT FUND HISTORIC COST 51645233 C 80155390 DUE TO UNCSA 33469 33469 X 6715383 -130633 7719 -180058 -302972 7018355 236312 236312 7254667 6436521 7719 7719 6428802 236312 97877 334189 6762991 PART V, LINE 4: THE ORGANIZATION'S INTENDED USE OF ENDOWMENT FUNDS IS FOR SCHOLARSHIPS AND SCHOOL-RELATED PROGRAMS FOR THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES ON RELATED INCOME UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NO MATERIAL UNRELATED BUSINESS TAXABLE INCOME HAS BEEN IDENTIFIED BY MANAGEMENT. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. IT IS THE FOUNDATION'S POLICY TO EVALUATE ALL TAX POSITIONS AND TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE CONSOLIDATED FINANCIAL STATEMENTS. ANY CHANGES IN THE AMOUNT OF A TAX POSITION WILL BE RECOGNIZED IN THE PERIOD THE CHANGE OCCURS. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING FISCAL YEAR 2019; HOWEVER, NO EXAMINATIONS ARE IN PROCESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PERPETUAL TRUST -180,058. PART XII, LINE 4B - OTHER ADJUSTMENTS: TRANSFERS TO UNCSA 97,877. 0 UNC SCHOOL OF THE ARTS 1533 SOUTH MAIN STREET WINSTONSALEM NC 27127 566065273 GOVERNMENT ORG 2948413 0 PAYMENTS FOR SCHOLARSHIPS, FACULTY SABBATICALS AND GRANTS DEPARTMENTAL FACULTY AWARDS 1 1496 SEMANS ART FUND GROUP AWARDS 17 15167 STUDENT STIPEND 10 17050 STUDENT CAREER DEVELOPMENT GRANT 46 29477 FACULTY DEVELOPMENT GRANT 16 19480 DEPARTMENTAL STUDENT AWARDS 22 6814 PART I, LINE 2: THE FOUNDATION RECEIVES REPORTS FROM THE FINANCIAL AID DEPARTMENT AT UNCSA REGARDING SCHOLARSHIP AWARDS. X 0 0 0 0 0 0 0 0 0 CYNTHIA B LIBERTY EXECUTIVE DIRECTOR 171250 0 0 0 0 0 8725 0 11511 0 191486 0 0 0 PART I, LINE 3 ON AN ANNUAL BASIS THE EXECUTIVE DIRECTOR HAS A WRITTEN REVIEW FROM THE TREASURER AND PRESIDENT OF THE UNCSA FOUNDATION. DURING THE REVIEW PROCESS, NOT ONLY ARE ACCOMPLISHMENTS FROM THE PREVIOUS YEARS REVIEWED AND DISCUSSED, BUT GOALS FOR THE UPCOMING YEAR ARE ALSO REVIEWED AND AGREED UPON. SINCE THE POSITION IS UNIQUE IN NATURE EVEN COMPARED TO OTHER UNIVERSITIES IN THE SYSTEM, THE SALARY IS REVIEWED IN CONTEXT WITH OTHER MEMBERS OF THE CHANCELLOR'S CABINET AND THE UNIVERSITY DEANS. BY COMPARING THIS POSITION'S SALARY AND BENEFIT PACKAGE WITH THE COUNTERPARTS THAT THE POSITION WORKS WITH TO HELP MAINTAIN AND MANAGE THE OPERATIONS OF THE ENTITIES THAT ARE SUPPORTED BY THESE EFFORTS, IT GIVES THE FOUNDATION BOARD REASONABLE ASSURANCE OF KEEPING THE SALARY COMPETITIVE. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR AND TREASURER REVIEW THE FORM 990 IN DETAIL. IT IS THEN ELECTRONICALLY DISTRIBUTED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MEMBERS COMPLETE A CONFLICT OF INTEREST SURVEY ANNUALLY. IF THEY HAVE CONFLICTS, MEMBERS DO NOT VOTE ON RELATED ITEMS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S SALARY IS REVIEWED AND VOTED ON ANNUALLY BY THE EXECUTIVE COMMITTEE. SEE SCHEDULE J FOR ADDITIONAL DETAIL. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS FOUNDATION MAKES GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND THE CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PERPETUAL TRUST -180,058. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR UNCSA FOUNDATION MANAGEMENT LLC 1533 SOUTH MAIN STREET WINSTON SALEM NC 27127 814166820 ACCEPTS REAL ESTATE DONATIONS AND FACILITATES REAL ESTATE PURCHASES NC UNC SCHOOL OF THE ARTS FOUNDATION 1 1 1