2024-11-15T15:52:24-06:00 2023-12-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2023-01-01 853563370 New Hanover Community Endowment Inc NEWH 9107565990 PO Box 4730 Wilmington NC 284061730 Bill Cameron Board Chair 9107565990 2024-11-15 1 1 Rebekuh Eley P01247672 3126343400 2024-11-15 2023 2024-10-15 13:58:12Z Bill Cameron PO Box 4730 Wilmington NC 284061730 96620793 0 X https://www.nhcendowment.org X 2020 NC To improve the health, education, safety, and economic opportunity of every person in our community. 13 13 10 15 300475 262327 0 37500000 0 0 -36712168 35412305 0 0 -36712168 72912305 9288550 0 0 0 595311 1442925 0 0 0 742594 3357344 10626455 4800269 -47338623 68112036 1208160901 1408948388 326377 24261 1207834524 1408924127 To improve the health, education, safety, and economic opportunity of every person in our community. 0 0 1485671 0 0 Providing financial support to benefit the residents of New Hanover County and region. New Hanover Community Endowment, Inc. focuses on (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety in furtherance of the mission and initiatives of New Hanover County. 1485671 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 10 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Joel Beeson CFOTreasurer 9107565990 PO Box 4730 Wilmington NC 284061730 Spence Broadhurst Director/Assistant Treasurer 8.00 X X 0 0 0 Hannah Gage Director/Secretary (until 09/30/23) 8.00 X X 0 0 0 Bill Cameron Director/Board Chair 8.00 X X 0 0 0 Edel Segovia Director/Vice Chair/Asst. Secretary 8.00 X X 0 0 0 Virginia Adams Director (until 09/30/23) 8.00 X 0 0 0 Chris Boney Director 8.00 X 0 0 0 Cedric Dickerson Director 8.00 X 0 0 0 Michele Holbrook Director 8.00 X 0 0 0 Patricia Kusek Director 8.00 X 0 0 0 Pat Maguire Director 8.00 X 0 0 0 Khadijia Tribie Reid Director 8.00 X 0 0 0 David Sprunt Director 8.00 X 0 0 0 Stedman Stevens Director 8.00 X 0 0 0 Woody White Director 8.00 X 0 0 0 Shannon Winslow Director 8.00 X 0 0 0 William Buster President 40.00 X 406850 0 25079 Lakesha McDay Vice President 40.00 X 251675 0 22469 Joel Beeson Treasurer 40.00 X 202021 0 14376 860546 0 61924 3 0 1 0 0 37500000 37500000 33620793 300475 33320318 25500000 23708488 1791512 1791512 1791512 72912305 0 300475 35111830 X 922469 691852 230617 392519 294389 98130 24680 18510 6170 28414 21311 7103 74843 56132 18711 31985 31985 35969 35969 2751343 2751343 155053 116290 38763 38994 29246 9748 71880 53850 18030 160027 120020 40007 10378 7784 2594 41612 31210 10402 60103 45077 15026 4800269 1485671 3314598 0 951843 94304 31914122 14817081 0 12794920 1175294936 1381242083 1208160901 1408948388 21377 24261 305000 0 326377 24261 X 1207834524 1408924127 1207834524 1408924127 1208160901 1408948388 68112036 132977567 0 X 0 1 X 1 0 X 1296033526 37500000 1333533526 1296033526 37500000 1333533526 1333533526 5991001 24234447 33620793 63846241 262327 262327 1397642094 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1207834524 37500000 165638529 2048926 1408924127 1315756843 -97367864 9288550 1265905 1207834524 92968 1296033526 20413157 782808 1315756843 100000 7032 92968 0.00000 0.00000 1.00000 1 0 0 X 203138529 132977567 132977567 70160962 2751343 2751343 72912305 2048926 0 2048926 2751343 2751343 4800269 Part V, Line 4: The endowment funds are used to help provide financial support to (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety missions and initiatives in New Hanover County. Part X, Line 2: The Endowment is generally exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. In addition, the Endowment qualifies for charitable contribution deductions and has been classified as an organization that is not a private foundation. Income that is not related to exempt purposes, less applicable deductions, may be subject to federal and state corporate income taxes. The Endowment did not have any significant net unrelated business income for the years ending December 31, 2023 and 2022. Management evaluated the tax positions of the Endowment and concluded that the Endowment had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of the Income Taxes Topic of the FASB ASC. Central America and the Caribbean 0 0 Investments 2438000 Europe (Including Iceland & Greenland) 0 0 Investments 27207000 0 0 0 0 0 0 29645000 0 29645000 1 0 1 1 1 0 X X 0 0 0 0 0 0 0 0 0 William Buster President 406850 0 0 0 0 0 4069 0 21010 0 431929 0 0 0 Lakesha McDay Vice President 251675 0 0 0 0 0 5033 0 17436 0 274144 0 0 0 Joel Beeson Treasurer 196950 0 0 0 5071 0 4142 0 10234 0 216397 0 0 0 Form 990, Part VI, Section A, line 4 During 2023, technical corrections were made to the Bylaws to clarify the application of the Unitrust Formula. Form 990, Part VI, Section B, line 11b A copy of the Form 990 is distributed, reviewed, and approved internally before it is filed with the IRS. Form 990, Part VI, Section B, line 12c Each Director, Officer, and Key Employee shall, upon commencement of his or her employment or term of office, and annually thereafter, sign a statement acknowledging and complying with this Policy. Form 990, Part VI, Section B, line 15 In establishing compensation the proposed salary for each Officer is reviewed against market data from industry sources. This data is provided to the Finance Committee which reviews the proposed salaries and market data for similar size foundations and locations and discusses it in the committee. The Finance Committee then creates a salary recommendation that is sent to the full board. This recommendation is discussed at the board level and salaries are set. Form 990, Part VI, Section C, line 19 These documents are available upon request for the same period of disclosure as set forth in the IRC Section 6104(d). Form 990, Part IX, line 11g Consultant Fees: Program service expenses 116,290. Management and general expenses 38,763. Fundraising expenses 0. Total expenses 155,053.