2024-10-17T13:13:45-05:00 2024-06-30 540737372 PBMARES LLP 701 TOWN CENTER DRIVE SUITE 900 NEWPORT NEWS VA 23606 990 2023-07-01 541156248 CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION CHRI 7575947038 ONE UNIVERSITY PLACE NEWPORT NEWS VA 236062998 SPENCER MCDONALD CONTROLLER 7575947038 2024-10-17 1 0 JENNIFER N FRENCH CPA P00659678 7578731587 2024-10-17 X 2023 2024-10-15 13:58:12Z SPENCER MCDONALD ONE UNIVERSITY PLACE NEWPORT NEWS VA 236062998 12184049 0 X HTTP://EXPLORE.CNU.EDU X 1980 VA TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF CHRISTOPHER NEWPORT UNIVERSITY. 22 19 0 19 -132570 0 6822198 8156829 608040 634753 542070 862772 129018 59048 8101326 9713402 6001182 6209100 0 0 103756 112581 0 0 1185197 1160850 1555455 7265788 7877136 835538 1836266 78899266 86604079 616808 520306 78282458 86083773 TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF CHRISTOPHER NEWPORT UNIVERSITY. 0 0 3772977 3737849 775649 UNIVERSITY SUPPORT - EDUCATIONAL EXPENSES GIVEN AS DIRECT SUPPORT TO CHRISTOPHER NEWPORT UNIVERSITY. 2471251 2471251 SCHOLARSHIP AWARDS - AWARDED 239 ANNUAL SCHOLARSHIPS AND 650 ENDOWED SCHOLARSHIPS. 6244228 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 167 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X SPENCER MCDONALD 7575947941 ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 BRIAN M EAKES BOARD MEMBER 1.00 0.00 X 0 0 0 ALLEN C BROOKS BOARD MEMBER 1.00 0.00 X 0 0 0 KELLI P MEADOWS SECRETARY 5.00 0.00 X X 0 0 0 LTC BORIS ROBINSON BOARD MEMBER 1.00 0.00 X 0 0 0 FRED HAGERMAN BOARD MEMBER 1.00 0.00 X 0 0 0 NATHANIEL FONTAINE BOARD MEMBER 1.00 0.00 X 0 0 0 S ANDERSON HUGHES BOARD MEMBER 1.00 0.00 X 0 0 0 N SCOTT MILLAR PRESIDENT 5.00 0.00 X X 0 0 0 MARY KATHERINE EVAN HOGG BOARD MEMBER 1.00 0.00 X 0 0 0 CAROLYN S ABBITT BOARD MEMBER 1.00 0.00 X 0 0 0 MATTHEW MARTIN BOARD MEMBER 1.00 0.00 X 0 0 0 ROBERT F SHUFORD JR BOARD MEMBER 1.00 0.00 X 0 0 0 VERONICA WEYMOUTH BOARD MEMBER 1.00 0.00 X 0 0 0 SYLVIA WEINSTEIN CRAFT BOARD MEMBER 1.00 0.00 X 0 0 0 RAMONA GAY TARKINGTON-DEAL VICE PRESIDENT 5.00 0.00 X 0 0 0 LANEY M VAUGHAN BOARD MEMBER 1.00 0.00 X 0 0 0 LEE LOCKWOOD BOARD MEMBER 1.00 0.00 X 0 0 0 BLAIR A THOMPSON BOARD MEMBER 1.00 0.00 X 0 0 0 JENNIFER LATOUR BOARD MEMBER 10.00 30.00 X 0 251636 32894 ADELIA P THOMPSON BOARD MEMBER 10.00 30.00 X 0 413598 24905 ALEXIS N SWAN BOARD MEMBER 1.00 0.00 X 0 0 0 GREGORY P KLICH BOARD MEMBER 1.00 0.00 X 0 0 0 WILLIAM G KELLY BOARD MEMBER 1.00 0.00 X 0 211882 12566 K SPENCER MCDONALD CFO & TREASURER 20.00 20.00 X 0 147900 13720 DOUGLAS L HORNSBY CHIEF EXECUTIVE OFFICER 20.00 20.00 X 0 238799 23915 0 1263815 108000 0 0 1 0 BSN SPORTS LLC PO BOX 841393 DALLAS TX 75284 SPORTS EQUIPMENT SUPPLIES 202963 1 160000 7996829 400 8156829 EDUCATIONAL PROGRAMS 611710 634753 634753 634753 233395 233395 50722 50722 3100024 2470647 629377 629377 629377 INVESTMENT INCOME 531120 8326 140896 -132570 8326 9713402 775649 -132570 913494 6209100 6209100 112581 112581 30880 30880 40008 3150 36858 110731 110731 142182 31978 110204 6303 6303 112227 112227 15448 15448 EVENT EXPENSES 600622 600622 MERCHANDISE EXPENSE 450736 450736 DONOR CULTIVATION EXPEN 23108 23108 BENEVOLENT (GIFTS) EXPE 15164 15164 8046 8046 7877136 6244228 447711 1185197 1464403 729749 4121962 4990104 10268522 10461945 210616 191016 35049 19600 58650324 65820405 2045113 2262462 2313893 2319814 78899266 86604079 192919 99662 423889 420644 616808 520306 X 3621893 4403149 74660565 81680624 78282458 86083773 78899266 86604079 X 1836266 6050461 -85412 X X 0 1 X 1 0 X 5707250 5125842 7155563 6822198 8156829 32967682 5707250 5125842 7155563 6822198 8156829 32967682 2894357 30073325 81938 80762 68840 102308 284117 617965 9306 75775 186951 -41791 -132570 97671 18895 4750 -243574 105547 140896 26514 33709832 2139818 0.89210 0.86640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 831894 X X 0 48947546 2486521 5017154 2439494 54011727 47219889 2506170 1319227 2097740 48947546 50070675 3043660 -4108748 1785698 47219889 35944625 1790863 13781496 1446309 50070675 34470130 1730803 986908 1243216 35944625 0.65970 0.34030 1 0 19600 19600 191016 191016 0 19600 AGENCY INVESTMENT 401375 ANNUITY LIABILITIES 19269 420644 X 15763863 6050461 6050461 9713402 0 9713402 7962548 85412 85412 7877136 0 7877136 PART III, LINE 4: PAINTINGS, SCULPTURES, AND HISTORICAL ARTIFACTS THAT AID THE UNIVERSITY IN ITS EDUCATIONAL MISSION. PART V, LINE 4: PROVIDE SCHOLARSHIPS, AWARDS, AND OPERATIONAL ASSISTANCE FOR THE UNIVERSITY. PART X, LINE 2: THE CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION AND REAL ESTATE FOUNDATIONS ARE EACH NOT-FOR-PROFIT ORGANIZATIONS THAT ARE EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME FROM UNRELATED BUSINESS INCOME. THE ORGANIZATIONS ARE SUBJECT TO TAX ON DEBT FINANCED RENTAL INCOME AND ON INCOME FROM CERTAIN ALTERNATIVE INVESTMENTS. TAXES OF THIS NATURE INCURRED DURING THE YEARS ENDED JUNE 30, 2024 AND 2023 WERE $68,000 AND $64,001, RESPECTIVELY. THERE WAS NO TAX LIABILITY AS OF JUNE 30, 2024 AND 2023. NEITHER OF THE ORGANIZATIONS HAVE BEEN CLASSIFIED AS A PRIVATE FOUNDATION. FASB ASC 740 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATIONS' MANAGEMENT HAS EVALUATED THE IMPACT OF THE STANDARD TO ITS COMBINED FINANCIAL STATEMENTS. MANAGEMENT IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS, AND HAS NOT ACCRUED THE EFFECT OF ANY UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2024 AND 2023. THE ORGANIZATIONS' INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THEY WERE FILED. THE ORGANIZATIONS RECOGNIZE INTEREST AND PENALTIES INCURRED, IF ANY, RELATED TO INCOME TAX POSITIONS AS OTHER INTEREST EXPENSE AND PENALTIES EXPENSE, RESPECTIVELY. ALL SINGLE MEMBER LLC'S ARE CONSIDERED DISREGARDED ENTITIES FOR TAX PURPOSES AND THEIR ACTIVITIES ARE INCLUDED IN THE REAL ESTATE FOUNDATION'S TAX RETURNS. PART XII, LINE 2D - OTHER ADJUSTMENTS: ALLOWANCES FOR PLEDGES RECEIVABLE 85,412. 1 CHRISTOPHER NEWPORT UNIVERSITY ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 540701501 115 2471251 0 239 ANNUAL SCHOLARSHIPS AND 650 ENDOWED SCHOLARSHIPS CHRISTOPHER NEWPORT UNIVERSITY ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 540701501 115 3737849 0 OTHER UNIVERSITY SUPPORT 1 PART I, LINE 2: OTHER ASSISTANCE IS PROVIDED TO THE UNIVERSITY IN THE FORM OF SCHOLARSHIP SUPPORT FOR STUDENTS. INDIVIDUAL SCHOLARSHIP AWARDS ARE BASED ON SPECIFIC CRITERIA CONTAINED WITHIN ANNUAL AND ENDOWED SCHOLARSHIP AGREEMENTS WITH THE DONOR. INDIVIDUAL STUDENTS MEETING THE CRITERIA ARE IDENTIFIED BY THE UNIVERSITY AND AWARD LETTERS ARE GENERATED. THE ORGANIZATION RECEIVES THE AWARD LETTER AND GENERATES A CHECK WHICH IS DEPOSITED TO THE STUDENT'S ACCOUNT. OTHER ASSISTANCE LISTED AS OTHER UNIVERSITY SUPPORT IS PROVIDED TO THE UNIVERSITY BY DISBURSING DONATED FUNDS TO VARIOUS EDUCATIONAL ACTIVITIES OF THE UNIVERSITY. THESE DISBURSEMENTS REQUIRE DOCUMENTATION STATING THE REASON FOR THE DISBURSEMENT AND ARE APPROVED BY A SUPERVISOR KNOWLEDGEABLE ABOUT THE ACTIVITY REQUESTING THE FUNDING. 0 0 0 0 0 0 0 0 0 ADELIA P THOMPSON BOARD MEMBER 0 413598 0 0 0 0 0 480 0 24425 0 438503 0 0 JENNIFER LATOUR BOARD MEMBER 0 251636 0 0 0 0 0 480 0 32414 0 284530 0 0 DOUGLAS L HORNSBY CHIEF EXECUTIVE OFFICER 0 238799 0 0 0 0 0 480 0 23435 0 262714 0 0 WILLIAM G KELLY BOARD MEMBER 0 211882 0 0 0 0 0 40 0 12526 0 224448 0 0 K SPENCER MCDONALD CFO & TREASURER 0 147900 0 0 0 0 0 480 0 13240 0 161620 0 0 FORM 990, PART VI, SECTION B, LINE 11B EACH MEMBER OF THE BOARD RECEIVED A PDF COPY OF THE TAX RETURN FOR REVIEW THROUGH E-MAIL. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, DIRECTORS MUST DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICT. IF A CONFLICT ARISES, IT IS DOCUMENTED IN THE MINUTES AND ANY VOTE REQUIRES ABSTINENCE OF THE AFFECTED BOARD MEMBER. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ALLOWANCE FOR PLEDGE RECEIVABLES -85,412. FORM 990, PART XI, LINE 2C THE AUDIT COMMITTEE MEETS AT LEAST ONCE A YEAR. ANNUALLY, THE INDEPENDENT AUDITORS PRESENT THE AUDITED FIANCIAL STATEMENTS AND MANAGEMENT REPORT TO THE AUDIT COMMITTEE. THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. FORM 990, PART IV, LINE 24A THE ORGANIZATION HAS TAX-EXEMPT BONDS ISSUED, WHICH ARE REPORTED BY THE RELATED ORGANIZATION CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION. THE REAL ESTATE FOUNDATION REPORTS THE BONDS BECAUSE IT OWNS THE PROPERTIES, WHICH ARE SECURITY FOR THE BONDS. CHRISTOPHER NEWPORT UNIVERSITY ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 540701501 UNIVERSITY VA 170(B)(1)(A)(IV) N/A 0 CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION INC ONE UNIVERSITY PLACE NEWPORT NEWS VA 23606 541863192 REAL ESTATE VA 501(C)(3) LINE 12C, III-FI N/A 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 CHRISTOPHER NEWPORT UNIVERSITY B 6209100 CASH