2025-03-17T14:07:54-05:00 2024-06-30 844233121 SHARPE PATEL CPA 5510 SIX FORKS ROAD SUITE 140 RALEIGH NC 27609 990 2023-07-01 237029901 FAYETTEVILLE STATE UNIVERSITY FOUNDATION FAYE 9106721111 1200 MURCHISON ROAD FAYETTEVILLE NC 283014252 JOHN BEN BROWN JR CHAIR 9106721111 2025-03-11 1 1 REBECCA FISHER P01690017 7044993893 2025-03-11 2023 2025-03-06 01:10:19Z JOHN BEN BROWN JR 1200 MURCHISON ROAD FAYETTEVILLE NC 283014252 4448064 0 X HTTP://WWW.UNCFSU.EDU/IA/FSUFOUNDATION X 1969 NC SEE SCHEDULE O 23 16 0 0 0 0 3898806 2981364 1290439 1240673 268761 226027 10941 0 5468947 4448064 3832876 2335699 0 0 0 0 0 0 0 1338669 1465869 5171545 3801568 297402 646496 26580208 26124299 9571383 6951913 17008825 19172386 X SEE SCHEDULE O 0 0 3575541 2335699 200 A. TO SOLICIT, RECEIVE, HOLD, MANAGE, AND DISBURSE CONTRIBUTIONS, GIFTS, GRANTS, BEQUESTS, AND TRANSFERS OF FUNDS OR PROPERTY OF ANY NATURE FOR THE BENEFIT OF FAYETTEVILLE STATE UNIVERSITY, ITS STUDENTS, FACULTY, AND STAFF. TO USE THE NAME OF THE UNIVERSITY IN ANY WAY THAT WILL BENEFIT AND ENRICH OR ENLARGE UPON ITS FACILITIES AND PROGRAMS IN ACCORDANCE WITH THE DIRECTION OF THE DONORS AND ACCEPTABLE TO THE ADMINISTRATIVE OFFICIALS OF THE UNIVERSITY.B. TO ACT AS TRUSTEE, ESCROW, OR DISBURSING AGENT WITH RESPECT TO ANY ENDOWMENT, GIFT, GRANTS, CONTRIBUTIONS, OR BEQUESTS MADE FOR THE BENEFIT OF FAYETTEVILLE STATE UNIVERSITY, ITS STUDENTS, FACULTY, AND STAFF, UNDER THE TERMS OF THE TRUSTOR OR DONOR, AND TO CARRY ON SUCH FUNCTIONS AS WILL ACCOMPLISH THE PURPOSE AND INTENT OF THE GIFT, ENDOWMENT, TRUST, OR GRANT.C. TO SPONSOR, ENCOURAGE, CONDUCT, AND RENDER FINANCIAL ASSISTANCE IN STUDENT AID PROGRAMS, ALUMNI EVENTS, PUBLIC RELATIONS ACTIVITIES, FACULTY SUPPLEMENTS, CURRICULUM ENRICHMENT PROGRAMS, RESEARCH PROJECTS, AND STUDIES AS APPROVED BY THE PROPER AUTHORITIES OF THE UNIVERSITY. 1240473 FSU HOUSING FOUNDATION LLC, A WHOLLY OWNED SUBSIDIARY, OPERATES A STUDENT HOUSING FACILITY. ITS PURPOSE IS TO OWN AND MANAGE OFF-CAMPUS HOUSING SPECIFICALLY FOR STUDENTS OF FAYETTEVILLE STATE UNIVERSITY. THIS ENSURES THAT STUDENTS HAVE ACCESS TO QUALITY HOUSING OPTIONS THAT MEET THEIR NEEDS WHILE ATTENDING THE UNIVERSITY. 3575541 1 1 0 0 0 0 0 0 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 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 23 16 0 0 0 0 0 0 0 1 1 0 1 1 1 0 0 0 0 0 0 X THE ORGANIZATION 9106721111 1200 MURCHISON ROAD FAYETTEVILLE NC 283014252 JOHN BEN BROWN JR CHAIR 1.00 X X 0 0 0 JERMAINE COBLE VICE CHAIR 1.00 X X 0 0 0 VEDAS NEAL SECRETARY 1.00 X X 0 0 0 OMAR BELL EXECUTIVE DIRECTOR 1.00 X X 0 0 0 ROBIN BODDIE-HAGGINS DIRECTOR 1.00 X 0 0 0 JARED JAMES DIRECTOR 1.00 X 0 0 0 OLIVIA CHAVIS DIRECTOR 1.00 X 0 0 0 JERMAINE PITTMAN DIRECTOR 1.00 X 0 0 0 CHRISTOPHER DAVIS DIRECTOR 1.00 X 0 0 0 THEODORE DEBOSE DIRECTOR 1.00 X 0 0 0 CATHY WADDELL DIRECTOR 1.00 X 0 0 0 JOHN GODBOLT DIRECTOR 1.00 X 0 0 0 REGINALD WELLS DIRECTOR 1.00 X 0 0 0 QU'DERRICK COVINGTON DIRECTOR 1.00 X 0 0 0 RAYMOND PRIVOTT DIRECTOR 1.00 X 0 0 0 MONICA CARSON SHERIFF DIRECTOR 1.00 X 0 0 0 KEVIN WESTER DIRECTOR 1.00 X 0 0 0 DARRELL T ALLISON EX-OFFICIO DIRECTOR 1.00 X 0 323876 0 LILLIAN WANJAGI EX-OFFICIO DIRECTOR 1.00 X 0 0 0 KIMBERLY JEFFRIES LEONARD EX-OFFICIO DIRECTOR 1.00 X 0 0 0 MONICA LEACH EX-OFFICIO DIRECTOR 1.00 X 0 0 0 LINDA COLEY EX-OFFICIO DIRECTOR 1.00 X 0 0 0 JOHNAE WALKER EX-OFFICIO DIRECTOR 1.00 X 0 0 0 0 323876 0 0 0 1 0 0 2981364 2981364 FSU HOUSING FOUNDATION 531110 1240473 1240473 SALES & SERVICES 531110 200 200 1240673 226027 226027 4448064 1240673 0 226027 2335699 2335699 15986 15986 150500 150500 722 722 391844 391844 226027 226027 116602 116602 REPAIRS & MAINTENANCE 256180 256180 SUPPLIES 167359 167359 ADMINISTRATIVE EXPENSES 100920 100920 CLEANING 39729 39729 3801568 3575541 226027 0 4261241 4696973 846 16968 268075 39755 7454000 6868000 434040 434040 434040 12173504 13857453 1948747 250865 26580208 26124299 2077628 83913 7493755 6868000 9571383 6951913 X 3285596 3537503 13723229 15634883 17008825 19172386 26580208 26124299 646496 1517065 0 X 0 1 X 1 0 X 437030 658732 2047899 3898806 2981364 10023831 1491565 1210299 1278040 1301380 1240673 6521957 1928595 1869031 3325939 5200186 4222037 16545788 6000 6000 0 6000 6000 16539788 285654 251057 235413 242874 226027 1241025 285654 251057 235413 242874 226027 1241025 2214249 2120088 3561352 5443060 4448064 17786813 0.92990 0.85830 0.06980 0.06000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12226813 387037 1565323 193096 13986077 11449015 1140510 -48735 -313977 12226813 10876705 356596 436434 -220720 11449015 7555095 438288 3100669 -93814 10876705 7396521 246359 153344 2882541 7555095 0.54800 0.45200 0 0 434040 434040 434040 CAPITAL LEASE AGREEMENT 6868000 6868000 X PART X, LINE 2: THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE FOUNDATION FILES FEDERAL FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, EACH FISCAL YEAR ENDING JUNE 30. THE FOUNDATION HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE IRC. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2024, AND 2023. ON JULY 1, 2010, THE FOUNDATION ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE FOUNDATION'S FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS. ACCORDINGLY, THE FOUNDATION HAS NOT RECORDED ANY RESERVES OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR INCOME TAX POSITIONS AT JUNE 30, 2024, AND 2023. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FOUNDATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020. 1 FAYETTEVILLE STATE UNIVERSITY 1200 MURCHISON ROAD FAYETTEVILLE NC 28301 561238736 STATE GOV 2185019 0 SCHOLARSHIPS FAYETTEVILLE STATE UNIVERSITY 1200 MURCHISON ROAD FAYETTEVILLE NC 28301 561238736 STATE GOV 150680 0 SCHOOL SUPPORT 2 PART I, LINE 2: THE ORGANIZATION MONITORS ITS GRANT FUNDS THROUGH INTERNAL CONTROLS, RISK ASSESSMENTS, AND CONTINUOUS MONITORING TO ENSURE COMPLIANCE AND EFFECTIVE USE. IT ALSO MAINTAINS DETAILED RECORDS. 0 0 0 0 0 0 0 0 0 DARRELL T ALLISON EX-OFFICIO DIRECTOR 0 323876 0 0 0 0 0 0 0 0 0 323876 0 0 FORM 990 PART 1 LINE 1 & FORM 990 PART III LINE 1 A. TO SOLICIT, RECEIVE, HOLD, MANAGE, AND DISBURSE CONTRIBUTIONS, GIFTS, GRANTS, BEQUESTS, AND TRANSFERS OF FUNDS OR PROPERTY OF ANY NATURE FOR THE BENEFIT OF FAYETTEVILLE STATE UNIVERSITY, ITS STUDENTS, FACULTY, AND STAFF. TO USE THE NAME OF THE UNIVERSITY IN ANY WAY THAT WILL BENEFIT AND ENRICH OR ENLARGE UPON ITS FACILITIES AND PROGRAMS IN ACCORDANCE WITH THE DIRECTION OF THE DONORS AND ACCEPTABLE TO THE ADMINISTRATIVE OFFICIALS OF THE UNIVERSITY. B. TO ACT AS TRUSTEE, ESCROW, OR DISBURSING AGENT WITH RESPECT TO ANY ENDOWMENT, GIFT, GRANTS, CONTRIBUTIONS, OR BEQUESTS MADE FOR THE BENEFIT OF FAYETTEVILLE STATE UNIVERSITY, ITS STUDENTS, FACULTY, AND STAFF, UNDER THE TERMS OF THE TRUSTOR OR DONOR, AND TO CARRY ON SUCH FUNCTIONS AS WILL ACCOMPLISH THE PURPOSE AND INTENT OF THE GIFT, ENDOWMENT, TRUST, OR GRANT. C. TO SPONSOR, ENCOURAGE, CONDUCT, AND RENDER FINANCIAL ASSISTANCE IN STUDENT AID PROGRAMS, ALUMNI EVENTS, PUBLIC RELATIONS ACTIVITIES, FACULTY SUPPLEMENTS, CURRICULUM ENRICHMENT PROGRAMS, RESEARCH PROJECTS, AND STUDIES AS APPROVED BY THE PROPER AUTHORITIES OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS AND RESPONSIBLE FINANCIAL PERSONNEL. FORM 990, PART VI, SECTION B, LINE 12 CONFLICTS OF INTEREST ARE RESOLVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 MADE AVAILABLE UPON REQUEST. FSU HOUSING FOUNDATION LLC 1200 MURCHISON ROAD FAYETTEVILLE NC 283014252 562266846 HOUSING NC 1466500 10012338 FAYETTEVILLE STATE UNIVERSITY FAYETTEVILLE STATE UNIVERSITY 1200 MURCHISON ROAD FAYETTEVILLE NC 28301 561238736 UNIVERSITY NC N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FAYETTEVILLE STATE UNIVERSITY B 2981364 ACTUAL AMOUNT