2023-10-30T10:37:34-05:00 2023-06-30 561031342 WILLIAMS OVERMAN PIERCE LLP 2501 ATRIUM DRIVE SUITE 500 RALEIGH NC 27607 990 2022-07-01 566046987 NC STATE ENGINEERING FOUNDATION INC NCST 9195137149 NCSU BOX 7207 RALEIGH NC 276957207 ERIN DELEHANTY ASST TREASURER 9195137149 2023-10-30 1 ERIN DELEHANTY 999009999 0 MARYELLEN PRANCE CPA P01662078 9197823444 2023-10-30 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIN DELEHANTY NCSU BOX 7207 RALEIGH NC 276957207 18853178 0 X SEE SCHEDULE O X 1944 NC AIDS AND PROMOTES, BY FINANCIAL ASSISTANCE AND OTHERWISE, EDUCATIONAL, RESEARCH, AND EXTENSION IN THE COLLEGE OF ENGINEERING AT NORTH CAROLINA STATE UNIVERSITY 33 31 0 31 0 0 15142278 10557325 19923 94468 3266458 4075665 -16217 -32526 18412442 14694932 4487559 5275577 0 0 567284 751299 0 0 1163438 3343052 5240764 8397895 11267640 10014547 3427292 172988383 173785450 1459609 1088665 171528774 172696785 TO AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, EDUCATIONAL, RESEARCH, AND EXTENSION IN THE COLLEGE OF ENGINEERING AT NORTH CAROLINA STATE UNIVERSITY 0 0 10020702 5275577 94468 AIDS AND PROMOTES, BY FINANCIAL ASSISTANCE AND OTHERWISE, EDUCATIONAL, RESEARCH, AND EXTENSION IN THE COLLEGE OF ENGINEERING AT NORTH CAROLINA STATE UNIVERSITY 10020702 1 1 0 0 0 0 0 0 0 1 0 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 33 31 0 0 0 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 ANDREW PITA DIRECTOR 1.00 X 0 0 0 BASIL HASSAN DIRECTOR 1.00 X 0 0 0 BHAVANA BARTHOLF DIRECTOR 1.00 X 0 0 0 BRUCE BALDWIN DIRECTOR 1.00 X 0 0 0 CARLOS BANEGAS DIRECTOR 1.00 X 0 0 0 DAVID DOVE DIRECTOR 1.00 X 0 0 0 DAVID WAGNER DIRECTOR 1.00 X 0 0 0 DAVID WHITLEY DIRECTOR 1.00 X 0 0 0 DEVAL PARIKH DIRECTOR 1.00 X 0 0 0 HANNIBAL WARREN DIRECTOR 1.00 X 0 0 0 HELENE LOLLIS DIRECTOR 1.00 X 0 0 0 JACOB HOOKS DIRECTOR 1.00 X 0 0 0 JAMES BRINKLEY DIRECTOR 1.00 X 0 0 0 JAMES STEWART DIRECTOR 1.00 X 0 0 0 JENNIFER RHATIGAN DIRECTOR 1.00 X 0 0 0 LINDA BUTLER DIRECTOR 1.00 X 0 0 0 LOUIS MARTIN-VEGA DIRECTOR 1.00 40.00 X 0 379143 48031 MARCUS BELVIN DIRECTOR 1.00 X 0 0 0 MARK WYATT DIRECTOR 1.00 X 0 0 0 MICHAEL CREED DIRECTOR 1.00 X 0 0 0 RASHIDA HODGE DIRECTOR 1.00 X 0 0 0 ROBERT LOFTIS DIRECTOR 1.00 X 0 0 0 SAMUEL MCCACHERN DIRECTOR 1.00 X 0 0 0 SAMUEL WURST DIRECTOR 1.00 X 0 0 0 SENECA JACOBS DIRECTOR 1.00 X 0 0 0 STEFFANIE EASTER DIRECTOR 1.00 X 0 0 0 TIFFANY MOORE DIRECTOR 1.00 X 0 0 0 V PEELER DIRECTOR 1.00 X 0 0 0 WESLEY COVELL DIRECTOR 1.00 X 0 0 0 ZACHARY HORTON DIRECTOR 1.00 X 0 0 0 D STABLER VICE PRESIDENT 1.00 X X 0 0 0 DEBORAH YOUNG PRESIDENT 1.00 X X 0 0 0 GRIFFIN LAMB SECRETARY 1.00 40.00 X 0 215965 35518 ERIN DELEHANTY ASSISTANT TREASURER 1.00 40.00 X 0 178758 51157 DANA HARRIS TREASURER 1.00 X 0 0 0 MARY PELOQUIN-DODD FORMER TREASURER 1.00 40.00 X 0 290924 44428 0 1064790 179134 0 1 1 0 0 59200 10498125 943033 10557325 PROGRAM REVENUES 611710 94468 94468 94468 432578 432578 7749437 4106350 3643087 3643087 3643087 19370 59200 51896 -32526 -32526 14694932 94468 0 4043139 5275577 5275577 751299 751299 16144 7093 9051 83500 83500 48832 47086 1746 108910 69593 39317 192848 192848 650902 619159 31743 193980 152245 41735 20978 9605 11373 MISC. SERVICES & FEES 1561708 1472523 89185 CAPITAL TRANSFERS 1200000 1200000 SUPPLIES 518140 488678 29462 PRINTING 218855 102118 116737 425967 384177 41790 11267640 10020702 83500 1163438 25691146 28735610 6174064 6002079 141068435 138991820 54738 55941 172988383 173785450 227363 2865 1232246 1085800 1459609 1088665 X 7492963 6315082 164035811 166381703 171528774 172696785 172988383 173785450 X 3427292 -2011977 -247304 X X 0 1 X 1 0 X 10213492 12262065 9743383 15142278 10557325 57918543 10213492 12262065 9743383 15142278 10557325 57918543 7308114 50610429 835893 881742 360420 172097 432578 2682730 60601273 607451 0.83510 0.73120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 141007913 3436140 1770762 6819449 139395366 131781098 10490577 3309738 4573500 141007913 94660070 3622886 37234615 3736473 131781098 90007030 6242586 1740727 3330273 94660070 85273793 1596996 6514624 3378383 90007030 0.02851 0.56410 0.40739 0 0 0 NC STATE INVESTMENT FUND 137768986 F LIFE INCOME FUNDS 1215098 F STIF 7736 F 138991820 LIFE INCOME FUNDS PAYABLE 919176 DUE TO ASSOCIATED ENTITIES 166624 1085800 X 14063810 -2011976 1123000 257854 -631122 14694932 0 14694932 12442536 1123000 51896 1174896 11267640 0 11267640 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 520 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES RELATED TO THE 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: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 205,958. FUNDRAISING EXPENSES NETTED WITH REVENUE 51,896. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH REVENUE 51,896. ZIA LECTURE 52600 52600 987 7765 22895 CCEE GOLF TOURNAMENT 25970 6600 19370 7020 2678 10551 78570 59200 19370 8007 10443 33446 51896 -32526 1 NORTH CAROLINA STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 170(C)(1) 5275577 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 LOUIS MARTIN-VEGA DIRECTOR 0 379143 0 0 0 0 0 40320 0 7711 0 427174 0 0 MARY PELOQUIN-DODD FORMER TREASURER 0 290924 0 0 0 0 0 38597 0 5831 0 335352 0 0 GRIFFIN LAMB SECRETARY 0 215965 0 0 0 0 0 27807 0 7711 0 251483 0 0 ERIN DELEHANTY ASSISTANT TREASURER 0 178758 0 0 0 0 0 43446 0 7711 0 229915 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 N.C. STATE ENGINEERING FOUNDATION. X 20 943033 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE OFFICERS, THE IMMEDIATE PAST PRESIDENT, AND THE CHAIRMAN OF EACH STANDING COMMITTEE OF THE BOARD PROVIDED THE IMMEDIATE PAST PRESIDENT, SECRETARY, AND TREASURER OF THE FOUNDATION SHALL BE NON-VOTING MEMBERS OF THE EXECUTIVE COMMITTEE AND SERVE IN AN ADVISORY CAPACITY ONLY, UNLESS THE IMMEDIATE PAST PRESIDENT 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 OR CERTIFICATE OF INCORPORATION OR THESE BYLAWS. THE PRESENCE OF FOUR (4) VOTING MEMBERS OF THE EXECUTIVE COMMITTEE AT ANY REGULAR OR SPECIAL MEETING OF SAID COMMITTEE SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT FORM 990 IS DISTRIBUTED TO BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IF ANY MATTER SHOULD COME BEFORE THE BOARD, OR ANY OF ITS COMMITTEES, IN SUCH A WAY AS TO GIVE RISE TO A CONFLICT OF INTEREST UNDER N.C. GEN. STAT. 55A-8-31 (AS AMENDED FROM TIME TO TIME OR THE CORRESPONDING PROVISION OF ANY FUTURE LAW), ANY INTERESTED DIRECTOR SHALL MAKE FULL DISCLOSURE OF THE MATERIAL FACTS OF THE MATTER AND THE DIRECTOR'S INTEREST INVOLVING THE CONFLICT AND, IF REQUESTED, THE INTERESTED DIRECTOR WITHDRAW FROM THE MEETING FOR SO LONG AS THE MATTER SHALL CONTINUE UNDER DISCUSSION, EXCEPT TO ANSWER ANY QUESTIONS THAT MIGHT BE ASKED REGARDING THE SITUATION. IF THE MATTER INVOLVES AN ITEM OF BUSINESS FOR WHICH A SPECIAL MEETING WAS CALLED, THE INTERESTED DIRECTOR SHALL NOT BE COUNTED TO ESTABLISH A QUORUM, NOR SHALL THE INTERESTED DIRECTOR PARTICIPATE IN THE DELIBERATION OR VOTE ON IT. FURTHERMORE, ANY CORPORATE TRANSACTION IN WHICH A DIRECTOR HAS A DIRECT OR INDIRECT INTEREST MUST BE AUTHORIZED, RATIFIED OR APPROVED IN GOOD FAITH BY A MAJORITY, NOT LESS THAN TWO OF THE DIRECTORS WHO HAVE NO DIRECT OR INDIRECT INTEREST IN THE TRANSACTION EVEN THOUGH LESS THAN A QUORUM; PROVIDED, HOWEVER, NO SUCH TRANSACTION SHALL BE AUTHORIZED, APPROVED, OR RATIFIED BY A SINGLE DIRECTOR. FOR PURPOSES OF THIS POLICY, A DIRECTOR HAS AN INDIRECT INTEREST IN A TRANSACTION IF: (A) ANOTHER ENTITY IN WHICH HE/SHE IS A GENERAL PARTNER IS A PARTY TO THE TRANSACTION; OR (B) ANOTHER ENTITY OF WHICH HE/SHE IS A DIRECTOR,OFFICER, OR TRUSTEE IS A PARTY TO THE TRANSACTION AND THE TRANSACTION IS OR SHOULD BE CONSIDERED BY THE BOARD OF THE FOUNDATION. ALL CONFLICTS OF INTEREST SHALL BE DETERMINED, ADDRESSED AND RESOLVED IN ACCORDANCE WITH N.C. GEN. STAT. 55A-8-31, AS AMENDED FROM TIME TO TIME AND THE CORRESPONDING PROVISION OF ANY FUTURE LAW. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS AND OFFICERS OF N.C. STATE ENGINEERING FOUNDATION THAT DO RECEIVE COMPENSATION ARE COMPENSATED BY NC STATE UNIVERSITY, A 170(C)(1) ORGANIZATION RELATED TO N.C. STATE ENGINEERING 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/NC-STATE-ENGINEERING- FOUNDATION-INC. OTHER GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 205,958. TRANSFERS OF FUNDS FROM ASSOCIATED ENTITIES -453,262. FORM 990 PART XII, LINC 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. PAGE 1, ITEM J - WEBSITE HTTP://FOUNDATIONSACCOUNTING.OFA.NCSU.EDU/FOUNDATIONS/NC- STATE-ENGINEERING-FOUNDATION-INC NORTH CAROLINA STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 EDUCATION NC 170(C)(1) N/A 0 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 INVESTS FUNDS OF NC STATE UNIVERSITY ENDOWMENT AND RELATED ENTITIES NC 501(C)(3) 509(A)(3) N/A 0 NORTH CAROLINA STATE UNIVERSITY ALUMNI ASSOCIATION INC 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 THE NORTH CAROLINA AGRICULTURAL FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 566049304 SUPPORTS THE COLLEGE OF AGRICULTURE & LIFE SCIENCES AT NCSU 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 NORTH CAROLINA VETERINARY MEDICAL FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 581344473 SUPPORT ORGANIZATION OF NC STATE UNIVERSITY NC 501(C)(3) 170(B)(1)(A) (IV) N/A 0 NC STATE NATURAL RESOURCES FOUNDATION INC 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 NORTH CAROLINA TEXTILE FOUNDATION INC NCSU BOX 8301 RALEIGH NC 27695 566045324 AIDS EDUCATION AND RESEARCH IN THE COLLEGE OF TEXTILES OF NCSU NC 501(C)(3) 170(B)(1)(A) (IV) N/A 0 NC STATE UNIVERSITY STUDENT AID ASSOCIATION INC PO BOX 37100 RALEIGH NC 27627 560650623 SUPPORTS ATHLETIC PROGRAM AT NCSU NC 501(C)(3) 170(B)(1)(A) (IV) N/A 0 CHARITABLE REMAINDER TRUSTS (6) 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