2025-01-16T13:04:09-06:00 2024-06-30 561031342 WILLIAMS OVERMAN PIERCE LLP 2501 ATRIUM DRIVE SUITE 500 RALEIGH NC 27607 990 2023-07-01 560653350 NC STATE NATURAL RESOURCES FOUNDATION INC NCST 9195137149 NCSU BOX 7207 RALEIGH NC 276957207 ERIN DELEHANTY ASSISTANT TREASURER 9195137149 2025-01-16 1 1 MARYELLEN PRANCE CPA P01662078 9197823444 2025-01-16 X 2023 2024-10-15 13:58:12Z ERIN DELEHANTY NCSU BOX 7207 RALEIGH NC 276957207 5963957 0 X SEE SCHEDULE O X 1929 NC TO PROMOTE EDUCATION AND RESEARCH IN THE COLLEGE OF NATURAL RESOURCES OF NORTH CAROLINA STATE UNIVERSITY AS WELL AS AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, ALL TYPES OF EDUCATION, RESEARCH AND EXTENSION IN THE COLLEGE OF NATURAL RESOURCES. 18 16 0 60 0 0 2748608 3217051 52627 367352 1261277 1441770 149383 61348 4211895 5087521 1695102 1822996 0 0 207167 219702 0 0 271307 904138 1050796 2806407 3093494 1405488 1994027 56481787 62988374 778094 808339 55703693 62180035 PROMOTE EDUCATION AND RESEARCH IN THE COLLEGE OF NATURAL RESOURCES OF NORTH CAROLINA STATE UNIVERSITY AS WELL AS AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, ALL TYPES OF EDUCATION, RESEARCH AND EXTENSION IN THE COLLEGE OF NATURAL RESOURCES. 0 0 2722348 1822996 367352 TO PROMOTE EDUCATION AND RESEARCH IN THE COLLEGE OF NATURAL RESOURCES OF NORTH CAROLINA STATE UNIVERSITY AS WELL AS AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, ALL TYPES OF EDUCATION, RESEARCH AND EXTENSION IN THE COLLEGE OF NATURAL RESOURCES. 2722348 1 1 0 0 0 0 1 0 0 1 1 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 16 1 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 GARY ALLRED DIRECTOR 1.00 X 0 0 0 BLAS ARROYO DIRECTOR 1.00 X 0 0 0 GEORGIA BROWN DIRECTOR 1.00 X 0 0 0 FREDERICK CARTER DIRECTOR 1.00 X 0 0 0 JOANN COX DIRECTOR 1.00 X 0 0 0 MILES DANIELS DIRECTOR 1.00 X 0 0 0 THOMAS HINES DIRECTOR 1.00 X 0 0 0 RONNIE HISE DIRECTOR 1.00 X 0 0 0 LARRY PERKINS DIRECTOR 1.00 X 0 0 0 NANCY THOMPSON DIRECTOR 1.00 X 0 0 0 DALE THREATT-TAYLOR DIRECTOR 1.00 X 0 0 0 JAZMIN VARELA DIRECTOR 1.00 X 0 0 0 MICHELLE WELLS DIRECTOR 1.00 X 0 0 0 JENNIFER ZUCKERMAN DIRECTOR 1.00 X 0 0 0 BRIAN DANGLER VICE CHAIR 1.00 X X 0 0 0 ERIN DELEHANTY ASSISTANT TREASURER 1.00 40.00 X X 0 188285 53735 MYRON FLOYD DIRECTOR 1.00 40.00 X 0 285673 46996 DANA R HARRIS TREASURER 1.00 40.00 X X 0 279586 76575 HUNTER JENKINS CHAIR 1.00 X X 0 0 0 SAM COOK VICE PRESIDENT 1.00 40.00 X 0 164307 30050 ERIN ELLIOTT SECRETARY 1.00 40.00 X 0 51542 19873 JENNIFER PIERCY PRESIDENT 1.00 40.00 X 0 158100 22075 0 1127493 249304 0 0 1 0 0 3217051 57647 3217051 HOFMANN FOREST 110000 367352 367352 367352 142966 142966 2157977 17263 872313 4123 1285664 13140 1298804 1298804 OTHER INCOME 611600 61348 61348 61348 5087521 428700 0 1441770 1822996 1822996 219702 219702 9083 9083 90500 90500 6455 5939 516 15375 14869 506 470 470 118016 115104 2912 11840 7440 4400 24967 24967 34001 20632 9339 4030 SERVICES & FEES 464914 439520 25394 SUPPLIES 130362 127910 2452 EQUIPMENT RENTAL & REPA 113948 113422 526 EDUCATION EQUIPMENT 13374 13374 17491 15705 1786 3093494 2722348 99839 271307 5529248 6012155 778428 574010 1946278 421721 1505452 1524557 48570258 54750581 98401 127071 56481787 62988374 778094 808339 778094 808339 X 6175203 6954194 49528490 55225841 55703693 62180035 56481787 62988374 X 1994027 4589610 -107295 X X 0 1 X 1 0 X 1439433 3427290 1664627 2748608 3217051 12497009 1439433 3427290 1664627 2748608 3217051 12497009 1693779 10803230 130535 78881 46461 73107 142966 471950 141028 205896 241404 161060 61348 810736 13779695 963062 0.78400 0.81540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 5 40.00 1 0 2.00 1000 49606669 2298544 5696416 2081806 55519823 49376645 1470812 626006 1866794 49606669 48782865 1225833 1161118 1793171 49376645 34512555 2393480 13614422 1737592 48782865 34729554 748935 594048 1559982 34512555 0.11745 0.49309 0.38946 0 0 1404673 1404673 376370 310187 66183 165235 111534 53701 1524557 NC STATE INVESTMENT FUND 53315715 F LIFE INCOME FUNDS 1432327 F STIF 2539 F 54750581 LIFE INCOME FUNDS PAYABLE 799865 DUE TO ASSOCIATES ENTITIES 8474 808339 X 10015836 4589610 446000 -107295 4928315 5087521 0 5087521 3539494 446000 446000 3093494 0 3093494 PART II, LINE 9: DONATED EASEMENTS ARE STATED AT FAIR VALUE AS OF THE DATE OF DONATION. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 280 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, 2024 AND 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 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 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: DECREASE IN VALUE OF SPLIT INTEREST -107,295. 1 NC STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 170(C)(1) 1822996 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 DANA R HARRIS TREASURER 0 277750 0 0 0 1836 0 69466 0 7109 0 356161 0 0 MYRON FLOYD DIRECTOR 0 285673 0 0 0 0 0 39887 0 7109 0 332669 0 0 ERIN DELEHANTY ASSISTANT TREASURER 0 188285 0 0 0 0 0 46626 0 7109 0 242020 0 0 SAM COOK VICE PRESIDENT 0 164307 0 0 0 0 0 22941 0 7109 0 194357 0 0 JENNIFER PIERCY PRESIDENT 0 158100 0 0 0 0 0 22075 0 0 0 180175 0 0 SCHEDULE J, PART II, COMPENSATION: THE BOARD MEMBERS THAT ARE COMPENSATED RECEIVE COMPENSATION FROM NC STATE UNIVERSITY, A 170(C)(1) ORGANIZATION RELATED TO NC STATE NATURAL RESOURCES FOUNDATION. X 5 57647 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE PRESIDENT, WHO SHALL SERVE AS CHAIR, THE VICE PRESIDENT, THE PAST PRESIDENT AND THE CHAIR OF EACH STANDING COMMITTEE OF THE BOARD. THE SECRETARY, TREASURER AND DEAN, COLLEGE OF NATURAL RESOUCES, WILL SERVE EX-OFFICIO AS NONVOTING MEMBERS OF THE EXECUTIVE COMMITTEE. BY RESOLUTION ADOPTED BY A MAJORITY OF THE DIRECTORS THEN IN OFFICE, THE BOARD OF DIRECTORS SHALL, AT ITS REGULAR ANNUAL MEETING, APPOINT THE MEMBERS OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, IN THE INTERIM BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, AND EXCEPT AS OTHERWISE PROVIDED IN SECTION 5 OF THE BYLAWS, ALL THE POWERS OF THE BOARD OF DIRECTORS. EXECUTIVE COMMITTEE MEMBERS APPOINTED BY THE BOARD SHALL SERVE AT THE PLEASURE OF THE BOARD BUT ONLY FOR SO LONG AS THEY ALSO SERVE AS DIRECTORS AND MAINTAIN THEIR QUALIFYING OFFICES OR DESIGNATIONS AS THE CASE MAY BE. FORM 990, PART VI, SECTION A, LINE 2 DIRECTOR HARRY K. SIDERIS, PRESIDENT, DUKE ENERGY. THE FOUNDATION IS EXPLORING A SOLAR ENERGY PROJECT AT HOFMANN FOREST. MR. SIDERIS HAS RECUSED HIMSELF FROM ALL MATTERS RELATED TO THIS PROJECT. HOWEVER, MR. SIDERIS COMPLETED HIS SECOND TERM ON THE BOARD IN SEPTEMBER 2023. AS OF 6/30/24, THE FOUNDATION HAS NO BUSINESS RELATIONSHIPS WITH ANY RELATED PARTIES OR THEIR EMPLOYERS. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT 990 IS DISTRIBUTED TO BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IN ORDER TO MONITOR AND ENFORCE COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, NC STATE NATURAL RESOURCES FOUNDATION FOLLOWS THE FOLLOWING PRACTICES: 1) ALL TRANSACTIONS (OTHER THAN EXPENSE REIMBURSEMENTS) BETWEEN THE FOUNDATION AND A DIRECTOR, OFFICER, OR EMPLOYEE OF THE FOUNDATION, MUST BE AUTHORIZED AND APPROVED BY THE FOUNDATION'S BOARD OF DIRECTORS OR RATIFIED IN GOOD FAITH BY THE FOUNDATION'S BOARD OF DIRECTORS AT THE SUBSEQUENT MEETING FOLLOWING THE TRANSACTION. 2) NO FOUNDATION DIRECTOR, OFFICER, OR EMPLOYEE HAVING A DIRECT OR INDIRECT INTEREST IN ANY FOUNDATION BUSINESS TRANSACTION MAY BE INVOLVED IN THE DECISION WITH RESPECT TO WHETHER THE FOUNDATION SHOULD ENTER INTO SUCH TRANSACTION. FOR PURPOSES OF THIS SECTION, A DIRECTOR, OFFICER OR EMPLOYEE HAS AN INDIRECT INTEREST IN A TRANSACTION IF: (A) ANOTHER ENTITY IN WHICH HE HAS A MATERIAL FINANCIAL INTEREST OR IN WHICH HE IS A GENERAL PARTNER IS A PARTY TO THE TRANSACTION; OR (B) ANOTHER ENTITY OF WHICH HE IS A DIRECTOR, OFFICER, OR TRUSTEE IS A PARTY TO THE TRANSACTION AND THE TRANSACTION IS OR SHOULD BE CONSIDERED BY THE BOARD. 3) NO SCHOLARSHIP OR FELLOWSHIP AWARD MAY BE MADE TO A DIRECTOR, OFFICER, OR EMPLOYEE OF THE FOUNDATION OR TO A FAMILY MEMBER OF ANY SUCH PERSON UNLESS THE RECIPIENT OF THE AWARD IS DETERMINED BY AN INDEPENDENT AWARDS COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ALSO SERVES AS THE HR/EMPLOYEE BENEFITS COMMITTEE. COMPENSATION DECISIONS ARE RECOMMENDED TO THIS COMMITTEE BY THE DIRECTOR OF FOREST OPERATIONS FOR HIS EMPLOYEES AND ARE BROUGHT BEFORE THE COMMITTEE FOR APPROVAL. THE EXECUTIVE COMMITTEE RECOMMENDS, DETERMINES, AND APPROVES SALARY AND OTHER COMPENSATION ELEMENTS FOR THE DIRECTOR OF FOREST OPERATIONS, IN ADDITION TO APPROVING RECOMMENDATIONS FROM THE DIRECTOR ABOUT HIS STAFF. 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 GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE. CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: DECREASE IN VALUE OF SPLIT INTEREST AGREEMENT -107,295. FORM 990, PART XII, LINE 2C: PROCESS HAS NOT CHANGED FROM PRIOR YEAR. PAGE 1, ITEM J- WEBSITE HTTPS://AEOPERATIONS.OFA.NCSU.EDU/NC-STATE-NATURAL-RESOURCES-FOUNDATION- INC/ NC STATE UNIVERSITY FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 566049503 SUPPORTS THE VARIOUS COLLEGES WITHIN THE UNIVERSITY NC 501(C)(3) LINE 5 N/A 0 NC STATE INVESTMENT FUND INC NCSU BOX 7207 RALEIGH NC 27695 311607634 INVEST FUNDS OF NC STATE UNIVERSITY ENDOWMENT AND RELATED ENTITIES NC 501(C)(3) LINE 12C, III-FI 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 AND LIFE SCIENCES AT NCSU NC 501(C)(3) LINE 5 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) LINE 5 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) LINE 5 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) LINE 5 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) LINE 5 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) LINE 12C, III-FI 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) LINE 5 N/A 0 NORTH CAROLINA TEXTILE FOUNDATION INC NCSU BOX 8301 RALEIGH NC 27695 566045324 AIDS EDUCATION & RESEARCH IN THE COLLEGE OF TEXTILES AT NCSU NC 501(C)(3) LINE 5 N/A 0 CHARITABLE REMAINDER TRUSTS (2) ASSET INVESTMENT NC NC STATE NATURAL RESOURCES FOUNDATION T 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0