2024-05-13T07:02:28-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2022-07-01 560890420 CENTRAL PIEDMONT COMMUNITY COLLEGE FOUNDATION INC CENT 7043306869 P O BOX 35009 CHARLOTTE NC 28235 JESSICA D BOYCE ASSISTANT SECRETARY 7043306869 2024-05-03 1 JESSICA BOYCE 999009999 0 AMY DOSIK P00890743 7043771678 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JESSICA D BOYCE P O BOX 35009 CHARLOTTE NC 28235 29226615 0 X WWW.CPCCFOUNDATION.ORG X 1965 NC SEE SCHEDULE O 36 36 2 70 -9786 0 20730911 18170724 256667 280000 332445 541031 48468 151401 21368491 19143156 7722243 8299005 0 0 76080 443309 0 0 588388 2327262 605666 10125585 9347980 11242906 9795176 81353423 96895350 2002064 1888756 79351359 95006594 X THE FOUNDATION'S MISSION IS TO GENERATE PRIVATE FINANCIAL SUPPORT TO FURTHER THE MISSION OF CENTRAL PIEDMONT COMMUNITY COLLEGE. 0 0 2893099 2893099 BY REMOVING FINANCIAL BARRIERS AND EXPANDING ACCESS TO OPPORTUNITIES, CENTRAL PIEDMONT HAS BEEN A PLACE OF TRANSFORMATION THROUGHOUT ITS HISTORY. THE CENTRAL PIEDMONT FOUNDATION SECURES PHILANTHROPIC SUPPORT TO INVEST IN SCHOLARSHIPS THAT MAKE A COLLEGE EDUCATION ACCESSIBLE FOR STUDENTS. SCHOLARSHIPS INCLUDE OPPORTUNITY SCHOLARSHIPS FOR STUDENTS FROM CHARLOTTE'S MOST ECONOMICALLY CHALLENGED HIGH SCHOOLS AND NEIGHBORHOODS; TRANSFER SCHOLARSHIPS FOR STUDENTS PREPARING TO EARN A FOUR-YEAR DEGREE; CAREER-FOCUSED SCHOLARSHIPS FOR STUDENTS WHO ASPIRE TO ENTER THE WORKFORCE UPON GRADUATION; AND MANY GENERAL AND DISCIPLINE-SPECIFIC SCHOLARSHIPS. THE RESOURCES ARE FUNDED WITH DESIGNATED EXPENDABLE AND ENDOWED SUPPORT.DURING THE FISCAL YEAR ENDED JUNE 30, 2023, THE FOUNDATION FUNDED MORE THAN 2,000 SCHOLARSHIPS. THE FOUNDATION WORKED TO EXPAND STUDENT EMERGENCY ASSISTANCE, WHICH SERVES AS A CRITICAL RESOURCE FOR LOW-INCOME, AT-RISK STUDENTS. WORKING WITH THE SINGLE STOP OFFICE, THE FOUNDATION PROVIDED ONE-TIME EMERGENCY GRANTS OF $500 PER STUDENT TO THOSE IN NEED. 2378801 2378801 THROUGH ITS EXTENSIVE EDUCATIONAL PROGRAMS, CENTRAL PIEDMONT OFFERS INDIVIDUALS THE OPPORTUNITY TO EARN AN ASSOCIATE DEGREE, WORK TOWARD A FOUR-YEAR DEGREE, OR TAKE A DIRECT PATH TO EMPLOYMENT. THE COLLEGE OFFERS NEARLY 300 PROGRAMS IN 12 CAREER FIELDS WITH MORE THAN 55 PROFESSIONAL PATHWAYS SO THAT STUDENTS ARE PREPARED FOR A REAL-WORLD CAREER. CLASSES ARE DESIGNED FOR CLOSE-KNIT LEARNING WITH A 19:1 AVERAGE STUDENT TO TEACHER RATIO. STUDENTS LEARN FROM FACULTY WITH ACTUAL CAREER EXPERIENCE AND A HANDS-ON EXPERIENTIAL APPROACH. HUNDREDS OF ONLINE CLASSES AND CONTINUING EDUCATION PROGRAMS ARE AVAILABLE TO PREPARE STUDENTS FOR THE NEXT STEP IN THEIR CAREER. THESE EDUCATIONAL PROGRAMS COMBINE TO EQUIP STUDENTS FOR PRODUCTIVE, MEANINGFUL LIVES AND POSITION THEM TO CONTRIBUTE TO THE GROWTH AND VITALITY OF THE REGION. 2024838 2024838 280000 AS AN OPEN-DOOR INSTITUTION, CENTRAL PIEDMONT STRIVES TO PROVIDE ITS DIVERSE STUDENT BODY WITH THE TOOLS AND SUPPORT SERVICES NECESSARY TO FACILITATE SUCCESS. THE FOUNDATION'S WORK ENHANCES THE COLLEGE'S CAPACITY TO ADDRESS THE FACTORS THAT IMPEDE STUDENT RETENTION AND COMPLETION BY CREATING A CULTURE THAT PROMOTES STUDENT SUCCESS AND EXPANDS OPPORTUNITIES FOR STUDENTS TO MAKE MEANINGFUL CONNECTIONS TO THE COLLEGE. THE FOUNDATION SUPPORTED STUDENT SUCCESS, EQUITY, AND ENGAGEMENT IN VARIOUS WAYS. SERVICES FOR STUDENTS INCLUDE PERSONAL AND FINANCIAL COUNSELING, ACADEMIC AND CAREER ADVISING, SUMMER BRIDGE EXPERIENCES, DISABILITY SERVICES, FAMILY RESOURCE/FINANCIAL ADVISING, MILITARY FAMILY AND VETERANS SERVICES, AS WELL AS OUT-OF-CLASSROOM EXPERIENCES SUCH AS INTERNSHIPS, APPRENTICESHIPS, WORK-BASED LEARNING, AND STUDY ABROAD. THROUGH THE FOUNDATION'S SINGLE STOP PROGRAM, STUDENTS RECEIVE SUPPORT SERVICES SUCH AS FAFSA APPLICATION ASSISTANCE, TAX/LEGAL ASSISTANCE, ACCESS TO FOOD AND DEDICATED PERSONNEL. IN ADDITION, THE FOUNDATION SUPPORTED INVESTMENTS IN TECHNOLOGY FOR STUDENTS BY ITS SUPPORT OF ACADEMIC PROGRAM PERSONNEL AND OTHER LEADERSHIP FOR CHARLOTTE MECKLENBURG SCHOOL PARTNERSHIPS, GUIDED PATHWAY ADVISORS, STUDENT SUCCESS LEADERS, AS WELL AS DESIGNATED COLLEGE LEADERS TO FOCUS ON STUDENT SUCCESS INITIATIVES AND ENROLLMENT. 1092625 1002267 THE CENTRAL PIEDMONT FOUNDATION ENGAGES DONOR SUPPORT AT ALL LEVELS TO PROVIDE THE COLLEGE WITH THE RESOURCES REQUIRED TO RESPOND TO CURRENT AND EMERGING PRIORITIES AND NEEDS OF ITS STUDENTS AND THE COMMUNITY. DONATIONS TO THE FOUNDATION PROVIDE CRITICAL RESOURCES TO SUSTAIN THE COLLEGE'S ESSENTIAL OPERATIONS AND CORE COMMITMENTS TO SUPPORT STUDENT SUCCESS. WITH FOUNDATION FUNDING, THE COLLEGE ALSO ENCOURAGES, DEVELOPS, AND RECOGNIZES EXCELLENCE AMONG ITS FACULTY AND STAFF. THE COLLEGE'S CENTER FOR TEACHING AND LEARNING EXCELLENCE PROVIDES PROFESSIONAL DEVELOPMENT TO ENSURE THAT FACULTY KNOWLEDGE AND SKILLS EVOLVE TO THE HIGHEST LEVELS TO MEET THE EVER-CHANGING NEEDS OF STUDENTS. FUNDING IS FURTHER UTILIZED FOR CAMPUS AND AUXILIARY SERVICES, FACILITIES, AND MAINTENANCE TO ENSURE AN OUTSTANDING ON-CAMPUS EXPERIENCE. THROUGH THE FUNDING OF VARIOUS PROGRAM SERVICES, THE FOUNDATION CONTINUES TO ENSURE FACULTY, STAFF, AND STUDENTS HAVE AN IDEAL ENVIRONMENT FOR TEACHING, LEARNING, AND GROWING TO FACILITATE A TRANSFORMATIONAL EXPERIENCE FOR ALL STUDENTS. 1092625 1002267 8389363 1 1 0 0 0 0 0 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 0 0 0 0 1 21 0 1 2 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 36 36 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NC SC X WENDY WALLER 7043306869 PO BOX 35009 CHARLOTTE NC 28235 WESTON M ANDRESS PRESIDENT 0.25 0.00 X X 0 0 0 J CARLTON SHOWALTER JR VICE PRESIDENT 0.25 0.00 X X 0 0 0 ASHLEY SIMMONS ROSEBOROUGH SECRETARY 0.25 0.00 X X 0 0 0 GARY E LABROSSE TREASURER 0.25 0.00 X X 0 0 0 ROSS ANNABLE DIRECTOR 0.25 0.00 X 0 0 0 LEWIS B BARNHARDT DIRECTOR 0.25 0.00 X 0 0 0 HENRY BATTEN DIRECTOR 0.25 0.00 X 0 0 0 JOYE BLOUNT DIRECTOR 0.25 0.00 X 0 0 0 MADELYN CAPLE DIRECTOR 0.25 0.00 X 0 0 0 KRISTI COLEMAN DIRECTOR 0.25 0.00 X 0 0 0 BETSY CONWAY DIRECTOR 0.25 0.00 X 0 0 0 EDWIN DALRYMPLE DIRECTOR 0.25 0.00 X 0 0 0 DEBORAH L EDWARDS DIRECTOR 0.25 0.00 X 0 0 0 GREG EFTHIMIOU DIRECTOR 0.25 0.00 X 0 0 0 TODD A GORELICK DIRECTOR 0.25 0.00 X 0 0 0 J TRAVIS HAIN DIRECTOR 0.25 0.00 X 0 0 0 E HOOPER HARDISON JR DIRECTOR 0.25 0.00 X 0 0 0 CLAUDIA F HEATH DIRECTOR 0.25 0.00 X 0 0 0 G CHRIS HILL DIRECTOR 0.25 0.00 X 0 0 0 LORI HUDSON DIRECTOR 0.25 0.00 X 0 0 0 LOIS J INGLAND DIRECTOR 0.25 0.00 X 0 0 0 JONATHAN ISHEE DIRECTOR 0.25 0.00 X 0 0 0 SUSAN N JAMISON DIRECTOR 0.25 0.00 X 0 0 0 LYNNE TATUM LITTLE DIRECTOR 0.25 0.00 X 0 0 0 LAURENT J LONGIN DIRECTOR 0.25 0.00 X 0 0 0 RAYMOND R MCGREGOR DIRECTOR 0.25 0.00 X 0 0 0 VINAY B PATEL DIRECTOR 0.25 0.00 X 0 0 0 CHRISTIAN M ROBINSON DIRECTOR 0.25 0.00 X 0 0 0 PATRICIA A RODGERS DIRECTOR 0.25 0.00 X 0 0 0 R GLENN SHERRILL JR DIRECTOR 0.25 0.00 X 0 0 0 TIMOTHY SITTEMA DIRECTOR 0.25 0.00 X 0 0 0 AMY STRECKER DIRECTOR 0.25 0.00 X 0 0 0 EBONY THOMAS DIRECTOR 0.25 0.00 X 0 0 0 LAURA C THOMAS DIRECTOR 0.25 0.00 X 0 0 0 PAULA R VINCENT DIRECTOR 0.25 0.00 X 0 0 0 LANDON WYATT DIRECTOR 0.25 0.00 X 0 0 0 WENDY J WALLER ASSISTANT TREASURER 40.00 0.00 X 109039 0 35138 MIKE WHITEMAN ASSISTANT SECRETARY (FROM 7/2022) 10.00 30.00 X 45455 0 13783 DR KANDI DEITEMEYER INTERIM VP, INST ADVMT 5.00 35.00 X 261730 0 9871 416224 0 58792 1 0 1 1 0 40701 2874756 15255267 282471 18170724 RENTAL INCOME FROM AFFILIATE 531120 280000 280000 280000 348145 -9786 357931 10141872 9948986 192886 192886 192886 274065 40701 134473 139592 139592 OTHER INCOME 900099 11809 11809 11809 19143156 280000 -9786 702218 8299005 8299005 404977 21600 383377 38332 4772 33560 23000 23000 47998 47998 191143 191143 173735 38355 135380 15881 6781 9100 77308 77308 13050 13050 BAD DEBT EXPENSE 3038 3038 60513 33542 26971 9347980 8389363 370229 588388 4626125 5401378 13518423 12178691 16752232 17499292 78750 26033 3501942 184911 3330081 3317031 42757336 57361775 290476 1111150 81353423 96895350 242154 302407 43334 23332 1544957 1403227 171619 159790 2002064 1888756 X 12584942 10913418 66766417 84093176 79351359 95006594 81353423 96895350 X 9795176 6085722 -225663 X 0 1 X 1 0 X 5491465 7944492 9850597 20730911 18170724 62188189 5491465 7944492 9850597 20730911 18170724 62188189 24624780 37563409 973894 382519 12053 20044 348145 1736655 119972 41624 139591 301187 2878 210 11274 11809 26171 64252202 1478079 0.58460 0.57280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42827822 10683189 5531973 1600003 57442981 45561984 5494150 -6510351 1717961 42827822 33798635 1001707 10761642 45561984 33276488 1268719 475572 635016 297994 289134 33798635 30399328 659691 2694992 182896 183833 110794 33276488 0.08909 0.91091 0.00000 0 0 95000 2884842 2979842 522100 184911 337189 3317031 PRIVATE EQUITY FUNDS 4082549 F BOND FUNDS 12345435 F EQUITY FUNDS 40933791 F 57361775 ANNUITY PAYMENT LIABILITY 159790 159790 X 25991243 6085722 1044698 -225663 6904757 19086486 191143 -134473 56670 19143156 10336008 1044698 134473 1179171 9156837 191143 191143 9347980 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS PRIMARILY OF OVER 200 INDIVIDUAL DONOR-RESTRICTED FUNDS WHOSE PRINCIPAL GIFTS ARE REQUIRED TO BE HELD IN PERPETUITY AS PERMANENT ENDOWMENTS AND WHOSE NET INVESTMENT INCOME AND NET GAINS/LOSSES ARE PERMITTED TO BE APPROPRIATED IN ACCORDANCE WITH THE FOUNDATION'S SPENDING POLICY, AS APPROVED BY THE FOUNDATION'S BOARD OF DIRECTORS, TO SUPPORT SCHOLARSHIPS, SPONSORED PROGRAMS AND OTHER PURPOSES AT CENTRAL PIEDMONT. THE FOUNDATION'S ENDOWMENT ALSO CONSISTS OF SEVERAL INDIVIDUAL DONOR-RESTRICTED FUNDS WHOSE PRINCIPAL GIFTS ARE TEMPORARILY RESTRICTED AND MAY BE DISTRIBUTED IN PART OR IN FULL IN ACCORDANCE WITH DONOR STIPULATIONS. THE FOUNDATION HAS ALSO DESIGNATED A PORTION OF UNRESTRICTED FUNDS AS QUASI-ENDOWMENT FUNDS WITH THE INTENT THAT EARNINGS MAY BE USED FOR FOUNDATION OPERATIONS, SPECIFIC PROJECTS OR EVENTS, AND/OR TO SUPPLEMENT SUPPORT TO CENTRAL PIEDMONT. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX AND APPLICABLE STATE STATUTES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). IN ACCORDANCE WITH IRC REGULATIONS, THE FOUNDATION IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE FOUNDATION. THE FOUNDATION ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE FOUNDATION BELIEVES THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT BELIEVES THERE ARE NO SUCH PROVISIONS AT JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CONTRIBUTION RECEIVABLE -197,792. CHANGE IN VALUE OF ANNUITY OBLIGATIONS -27,871. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT EXPENSES -134,473. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT EXPENSES 134,473. SPORTING CLAYS 215275 23853 191422 18886 29526 1121 21714 SWIRL 99491 16848 82643 1000 4017 58209 314766 40701 274065 19886 29526 5138 79923 134473 139592 1 CENTRAL PIEDMONT COMMUNITY COLLEGE PO BOX 35009 CHARLOTTE NC 282355009 560797174 170(C)(1) 8016534 282471 FAIR MARKET VALUE EDUCATIONAL FACILITY IMPROVEMENTS, EQUIPMENT, MATERIALS AND SUPPLIES FUNDING SUPPORTS SCHOLARSHIPS, SPONSORED PROGRAMS AND OTHER OBJECTIVES OF CPCC 1 0 PART I, LINE 2: THE FOUNDATION MAINTAINS DOCUMENTATION REGARDING DONOR RESTRICTIONS ON FUNDS DONATED FOR SPECIFIC PURPOSES, THE MAJORITY BEING FOR SCHOLARSHIPS AND COLLEGE PROGRAMS. THE FOUNDATION PARTICIPATES IN THE SCHOLARSHIP AWARDING PROCESS AND ENSURES THAT SCHOLARSHIPS ARE AWARDED IN ACCORDANCE WITH DONOR RESTRICTIONS. COLLEGE DEPARTMENTS SUBMIT "RELEASE OF FUNDS" REQUEST FORMS TO THE FOUNDATION FOR APPROVAL TO SPEND PROGRAM FUNDS THAT ARE AVAILABLE FOR THE SPECIFIED PROGRAM. THE COLLEGE INVOICES THE FOUNDATION ON A MONTHLY BASIS TO REQUEST REIMBURSEMENT FOR PROGRAM FUNDS THAT HAVE BEEN EXPENDED. 0 0 0 0 0 0 0 1 0 DR KANDI DEITEMEYER INTERIM VP, INST ADVMT 104960 0 153720 0 3050 0 8886 0 985 0 271601 0 0 0 WENDY J WALLER ASSISTANT TREASURER 108039 0 1000 0 0 0 26931 0 8207 0 144177 0 0 0 MIKE WHITEMAN ASSISTANT SECRETARY (FROM 7/2022) 42663 0 2125 0 667 0 11731 0 2052 0 59238 0 0 0 PART I, LINE 3 MOST OF THE EMPLOYEES WHO PERFORM WORK FOR THE FOUNDATION ARE EMPLOYED BY CENTRAL PIEDMONT COMMUNITY COLLEGE AND PROVIDE SERVICES TO CPCC FOUNDATION UNDER A SHARED SERVICES AGREEMENT. THEREFORE, ALL COMPENSATION METHODS AND ANALYSES ARE PERFORMED BY THE COLLEGE. THE COLLEGE USED THE FOLLOWING METHODS IN ESTABLISHING THE COMPENSATION OF THE FOUNDATION'S CEO/EXECUTIVE DIRECTOR: INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. PART I, LINE 7 A BONUS PAYMENT WAS MADE TO DR. K. DEITEMEYER FOR PARTICIPATION IN 4-YEAR FUNDRAISING CAMPAIGN. EXPLANATION OF COMPENSATION PAID BY AN UNRELATED ORGANIZATION: WENDY WALLER AND MIKE WHITEMAN RECEIVED COMPENSATION FROM CENTRAL PIEDMONT, AN UNRELATED ORGANIZATION, FOR PROVIDING SERVICES TO THE FOUNDATION UNDER THE SHARED SERVICES AGREEMENT MENTIONED ABOVE. THE COMPENSATION PAID BY CENTRAL PIEDMONT FOR THEIR SERVICES IN RELATION TO THE FOUNDATION HAS BEEN REFLECTED IN PART VII AND SCHEDULE J AS IF IT WERE PAID BY THE FOUNDATION IN ACCORDANCE WITH THE INSTRUCTIONS TO THE FORM 990. THE FOUNDATION DID NOT PAY ANYTHING TO THEM DIRECTLY. ADDITIONALLY, 12% OF DR. KANDI DEITEMEYER'S TOTAL COMPENSATION FROM CENTRAL PIEDMONT WAS IN RELATION TO HER SERVICES FOR THE FOUNDATION. THE FOUNDATION ALSO SEPARATELY PAID DR. DEITEMEYER $212,665 OF COMPENSATION ($62,665 BASE COMPENSATION AND $150,000 BONUS) FOR SERVICES PROVIDED TO THE FOUNDATION. THE COMBINED TOTAL OF COMPENSATION PAID BY BOTH CENTRAL PIEDMONT AND THE FOUNDATION HAS BEEN REFLECTED IN PART VII AND SCHEDULE J AS IF IT WERE PAID BY THE FOUNDATION IN ACCORDANCE WITH THE INSTRUCTIONS TO THE FORM 990. X EDUCATIONAL EQUIPMENT 14 259353 FAIR MARKET VALUE X VARIOUS - FACILITY EXP, EDUC EQUIP, MATERIALS 30 23118 FAIR MARKET VALUE 0 0 1 1 PART I, LINE 32B: THE FOUNDATION USES TRUIST TO PROCESS ANY STOCK GIFTS RECEIVED. THE STOCKS ARE SOLD AND FUNDS TRANSFERRED TO THE FOUNDATION. FORM 990, PART I, LINE 1, DESCRIPTION OF MISSION & SIGNIFICANT ACTIVITIES: CENTRAL PIEDMONT COMMUNITY COLLEGE WILL BE A CHAMPION OF STUDENTS, A CATALYST FOR OPPORTUNITY, AND AN EXCEPTIONAL PROVIDER OF LEARNING EXPERIENCES THAT TRANSFORM LIVES AND STRENGTHEN OUR COMMUNITY. THE COLLEGE FACILITATES STUDENT LEARNING, SUCCESS, AND COMPLETION BY PROVIDING EXCEPTIONAL EDUCATION AND GLOBALLY COMPETITIVE TRAINING IN AN ENGAGING, SUPPORTIVE ENVIRONMENT. THE CENTRAL PIEDMONT COMMUNITY COLLEGE FOUNDATION, A 501(C)(3) NON-PROFIT CHARITABLE ORGANIZATION ESTABLISHED IN 1965, GENERATES FINANCIAL SUPPORT TO FURTHER THE MISSION OF THE COLLEGE THROUGH PARTNERSHIPS WITH BUSINESSES, INDIVIDUALS, AND ORGANIZATIONS IN OUR COMMUNITY. PHILANTHROPIC SUPPORT FROM THESE GROUPS HELPS TO DRIVE STUDENT SUCCESS AND ADDRESS PRIORITY PROGRAMS AND NEEDS AS IDENTIFIED BY THE COLLEGE'S LEADERSHIP. FOR THE YEAR ENDED 2023, THE COLLEGE CONTINUED TO RECEIVE RENEWED AND INCREASED DONOR SUPPORT THROUGH SEVERAL MAJOR GIFTS AND SIGNIFICANT GRANT SUPPORT. THE FOUNDATION CONTINUES TO FOCUS ITS EFFORTS AROUND MESSAGING THE IMPORTANCE OF UNRESTRICTED ANNUAL SUPPORT THAT ALIGNS WITH THE COLLEGE'S STRATEGIC PLAN AND BROADER INITIATIVES. FORM 990, PART VI, SECTION B, LINE 11B THE BUDGET AND AUDIT COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FORM 990 PRIOR TO FILING. AFTER REVIEW BY THE BUDGET AND AUDIT COMMITTEE, A COPY OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION ASKS BOARD MEMBERS TO COMPLETE THE FAMILY & BUSINESS RELATIONSHIP QUESTIONNAIRE AND THE CONFLICT OF INTEREST POLICY FORM ON AN ANNUAL BASIS. THE FOUNDATION REVIEWS THE RESPONSES AND DETERMINES WHETHER ANY DISCLOSURES NEED TO BE REPORTED TO THE BOARD OF DIRECTORS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE LEAVES THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS DECIDE IF A CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 MOST OF THE EMPLOYEES WHO PERFORM WORK FOR THE FOUNDATION ARE EMPLOYED BY CENTRAL PIEDMONT COMMUNITY COLLEGE AND PROVIDE SERVICES TO CPCC FOUNDATION UNDER A SHARED SERVICES AGREEMENT. THEREFORE, ALL COMPENSATION METHODS AND ANALYSES ARE PERFORMED BY THE COLLEGE. EXECUTIVE COMPENSATION PACKAGES ARE INITIALLY APPROVED BY THE COLLEGE BOARD AS PART OF THE BUDGET PROCESS. THE COLLEGE BOARD THEN PROVIDES A LETTER TO THE FOUNDATION'S BOARD CHAIR TO BRING TO THE FOUNDATION EXECUTIVE COMMITTEE FOR REVIEW AND APPROVAL. THE LAST COMPENSATION STUDY WAS PERFORMED IN SPRING 2015 BY GALLAGHER BENEFITS SERVICES AND INCLUDED REVIEW OF FACULTY AND STAFF INCLUDING THOSE POSITIONS SUPPORTING THE CPCC FOUNDATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CONTRIBUTION RECEIVABLE -197,792. CHANGE IN VALUE OF ANNUITY OBLIGATIONS -27,871.