2023-11-09T12:47:27-06:00 2023-06-30 561031342 WILLIAMS OVERMAN PIERCE LLP 2501 ATRIUM DRIVE SUITE 500 RALEIGH NC 27607 990 2022-07-01 581524289 NORTH CAROLINA STATE UNIVERSITY COLLEGE OF SCIENCES FOUNDATION INC NORT 9195137149 NCSU BOX 7207 RALEIGH NC 276957207 ERIN DELEHANTY ASST TREASURER 9195137149 2023-11-08 1 ERIN DELEHANTY 999009999 0 MARYELLEN PRANCE CPA P01662078 9197823444 2023-11-08 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIN DELEHANTY NCSU BOX 7207 RALEIGH NC 276957207 3254551 0 X SEE SCHEDULE O X 1983 NC PROVIDES FINANCIAL SUPPORT FOR ALL TYPES OF EDUCATION AND RESEARCH WITHIN THE COLLEGE OF SCIENCES AT NORTH CAROLINA STATE UNIVERSITY. 23 23 0 50 0 0 2727199 1431791 0 0 772545 791988 338594 314176 3838338 2537955 758838 1035492 0 0 214575 238281 0 0 363795 747566 854723 1720979 2128496 2117359 409459 40933909 41021480 846774 702715 40087135 40318765 PROVIDE FINANCIAL SUPPORT FOR ALL TYPES OF EDUCATION AND RESEARCH WITHIN THE COLLEGE OF SCIENCES AT NORTH CAROLINA STATE UNIVERSITY. 0 0 1707975 1035492 PROVIDES FINANCIAL SUPPORT FOR ALL TYPES OF EDUCATION AND RESEARCH WITHIN THE COLLEGE OF SCIENCES AT NORTH CAROLINA STATE UNIVERSITY. 1707975 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 23 23 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 AIMEE SMART DIRECTOR 1.00 X 0 0 0 JACK MENIUS JR DIRECTOR 1.00 X 0 0 0 ANITA MCCLERNON DIRECTOR 1.00 X 0 0 0 BARBARA PRILLAMAN DIRECTOR 1.00 X 0 0 0 BENTON SATTERFIELD JR DIRECTOR 1.00 X 0 0 0 WILLIAM FLEMING DIRECTOR 1.00 X 0 0 0 WILLIAM TRENT III DIRECTOR 1.00 X 0 0 0 CAREN SCHMIDT DIRECTOR 1.00 X 0 0 0 CHARLES CASE DIRECTOR 1.00 X 0 0 0 GARNETT WHITEHURST DIRECTOR 1.00 X 0 0 0 ROBERT IVES DIRECTOR 1.00 X 0 0 0 MICHAEL BROOKS DIRECTOR 1.00 X 0 0 0 MICHAEL STOCUM DIRECTOR 1.00 X 0 0 0 MICHAEL LUTHER DIRECTOR 1.00 X 0 0 0 NORA GARDNER DIRECTOR 1.00 X 0 0 0 PAULA HENDERSON DIRECTOR 1.00 X 0 0 0 WALTER TURNER JR DIRECTOR 1.00 X 0 0 0 ROBERT STARBUCK DIRECTOR 1.00 X 0 0 0 RODERIC HUGHES-OLIVER DIRECTOR 1.00 X 0 0 0 SAUNDRA WILLIAMS DIRECTOR 1.00 X 0 0 0 SETH CARRUTHERS DIRECTOR 1.00 X 0 0 0 SHARON PRESNELL CHAIRPERSON 1.00 X X 0 0 0 AMY ROBERTSON VICE CHAIRPERSON 1.00 X X 0 0 0 ALEX BYRD SECRETARY 1.00 40.00 X 0 86838 28814 ERIN DELEHANTY ASSISTANT TREASURER 1.00 40.00 X 0 178758 51157 DANA HARRIS TREASURER 1.00 X 0 0 0 TINA MORRISON PRESIDENT 1.00 40.00 X 0 158224 46162 DASA SEWILL ASSISTANT SECRETARY 1.00 40.00 X 0 16946 0 MARY PELOQUIN-DODD FORMER TREASURER 1.00 40.00 X 0 290924 44429 0 731690 170562 0 1 1 0 0 1431791 118922 1431791 94983 94983 289426 289426 1413601 716596 697005 697005 697005 MISC. REVENUE 611710 24750 24750 24750 2537955 0 0 1106164 1035492 1035492 238281 238281 8226 8226 48500 48500 34630 32596 2034 4237 1731 2506 150 150 80232 70554 9678 36172 7879 28293 5865 5865 SERVICES & FEES 372235 316829 55406 SUPPLIES 100777 82079 18698 EDUCATION EQUIPMENT 71756 71756 PRINTING 31256 28347 2909 60687 60562 125 2128496 1707975 56726 363795 6968382 7203270 463591 278852 1156 33465581 33528809 36355 9393 40933909 41021480 49134 0 797640 702715 846774 702715 X 2136282 2239327 37950853 38079438 40087135 40318765 40933909 41021480 X 409459 -233268 55439 X X 0 1 X 1 0 X 1607256 2956035 2171728 2727199 1431791 10894009 1607256 2956035 2171728 2727199 1431791 10894009 1773307 9120702 450294 444668 397183 378964 384409 2055518 60426 5986 5292 1707 24750 98161 13047688 0.69900 0.71690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 33062852 741198 486529 1319760 32970819 31298838 2029140 746903 1012029 33062852 22504968 745656 8729687 681473 31298838 21389955 1093820 458801 437608 22504968 19319276 1335715 1441177 706213 21389955 0.01846 0.51437 0.46717 0 0 0 STIF 19500 F NC STATE INVESTMENT FUND, INC. 32716107 F LIFE INCOME FUNDS 793202 F 33528809 LIFE INCOME FUNDS PAYABLE 694180 DUE TO ASSOCIATED ENTITIES 8535 702715 X 2613681 -233268 251000 57994 75726 2537955 0 2537955 2379496 251000 251000 2128496 0 2128496 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 180 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 57,994. 1 NC STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 170(C)(1) 1035492 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 5832 0 335353 0 0 ERIN DELEHANTY ASSISTANT TREASURER 0 178758 0 0 0 0 0 43446 0 7711 0 229915 0 0 TINA MORRISON PRESIDENT 0 158224 0 0 0 0 0 38451 0 7711 0 204386 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 NORTH CAROLINA STATE UNIVERSITY COLLEGE OF SCIENCES FOUNDATION. X 5 118922 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS OF THE CORPORATION SHALL ELECT AN EXECUTIVE COMMITTEE CONSISTING OF THE CHAIRPERSON, VICE CHAIRPERSON, PRESIDENT, TREASURER, IMMEDIATE PAST CHAIRPERSON, AND UP TO FOUR OTHER MEMBERS OF THE BOARD OF DIRECTORS WHOSE TERMS ON THE EXECUTIVE COMMITTEE SHALL COINCIDE WITH THE TERMS OF THEIR RESPECTIVE OFFICES OR DESIGNATIONS; PROVIDED FURTHER, HOWEVER, THE PRESIDENT AND THE TREASURER SHALL BE NON-VOTING MEMBERS OF THE EXECUTIVE COMMITTEE UNLESS THEY ARE ALSO MEMBERS OF THE BOARD. THE EXECUTIVE COMMITTEE SO APPOINTED, IN THE INTERIMS BETWEEN THE MEETINGS OF THE BOARD OF DIRECTORS, SHALL EXERCISE ALL THE POWERS OF THE CORPORATION, INCLUDING ALL OF THE POWERS THAT HAVE BEEN CONFERRED UPON IT OR UPON THE BOARD OF DIRECTORS, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL HAVE NO POWER OR AUTHORITY TO ALTER, AMEND, OR RESCIND THE BY-LAWS OF THE CORPORATION. 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 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 NORTH CAROLINA STATE UNIVERSITY COLLEGE OF SCIENCES FOUNDATION THAT DO RECEIVE COMPENSATION ARE COMPENSATED BY NC STATE UNIVERSITY, A 170(C)(1) ORGANIZATION RELATED TO NORTH CAROLINA STATE UNIVERSITY COLLEGE OF SCIENCES 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-UNIVERSITY- COLLEGE-OF-SCIENCES-FOUNDATION-INC. OTHER GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 57,994. TRANSFERS OF FUNDS FROM ASSOCIATED ENTITIES -2,555. 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/NC- STATE-UNIVERSITY-COLLEGE-OF-SCIENCES-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 INVESTS FUNDS OF NC STATE UNIVERSITY ENDOWMENT AND RELATED ENTITIES NC 501(C)(3) 509(A)(3) N/A 0 NC STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 EDUCATION NC 170(C)(1) 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 ALUMNI ASSOCIATION INC NCSU BOX 7207 RALEIGH NC 27695 566035544 PROMOTES ALUMNI AFFAIRS & AWARENESS OF NCSU IN COMMUNITY NC 501(C)(3) 170(B)(1)(A) (IV) N/A 0 NC STATE ENGINEERING FOUNDATION INC 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 NORTH CAROLINA VETERINARY MEDICAL FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 581344473 PROVIDES FINANCIAL SUPPORT IN THE FIELD OF VETERINARY MEDICINE 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 SUPPORTS THE COLLEGE OF NATURAL RESOURCES AT NCSU 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 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 CHARITABLE REMAINDER TRUSTS (1) ASSET INVESTMENT NC NCSU COLLEGE OF SCIENCES FOUNDATION T 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 0