2026-02-27T13:17:51-06:00 2025-06-30 934792291 SORREN INC 328 E MARKET ST SUITE 100 GREENSBORO NC 27401 990 2024-07-01 237099379 APPALACHIAN STATE UNIVERSITY FOUNDATION INC APPA 8282622341 ASU BOX 32064 MCKINNEY ALUMNI CTR BOONE NC 286082064 WILLIAM SEARS PRESIDENT 8282622341 2026-02-27 1 1 MARYELLEN PRANCE CPA P01662078 3362751686 2026-02-23 2024 2025-03-06 01:10:19Z WILLIAM J SEARS ASU BOX 32064 MCKINNEY ALUMNI CTR BOONE NC 286082064 42680117 0 X HTTP://GIVE.APPSTATE.EDU/ X 1970 NC THROUGH IMPACTFUL AND ENGAGED STEWARDSHIP, FUNDRAISING, FINANCIAL MANAGEMENT, AND THOUGHTFUL BOARD LEADERSHIP, THE APPALACHIAN STATE UNIVERSITY FOUNDATION WILL PROVIDE SIGNIFICANT RESOURCES IN SUPPORT OF THE UNIVERSITY'S MISSION AND KEY PRIORITIES. 20 17 0 100 4517 0 29684927 36513143 346120 283239 2000566 2308985 79524 36331 32111137 39141698 26577533 27342908 0 0 0 0 0 0 1652729 3128324 3278715 29705857 30621623 2405280 8520075 240354589 265065463 11470346 9998327 228884243 255067136 X THE APPALACHIAN STATE UNIVERSITY FOUNDATION EXISTS TO SUPPORT APPALACHIAN STATE UNIVERSITY STUDENTS, FACULTY, STAFF AND COMMUNITY THROUGH THE ADVANCEMENT OF FINANCIAL SUPPORT, STEWARDSHIP, GROWTH OF RESOURCES, AND ADVOCACY FOR THE UNIVERSITY'S MISSION. 0 0 9868708 9867890 25610 SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY TO SUPPORT ACADEMIC OPERATING BUDGETS, FACULTY AND STAFF SALARIES/SUPPLEMENTS AND OTHER EVENTS, AND IN-KIND DONATIONS. 4777482 4777482 SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY FOR SCHOLARSHIPS. 10882044 10882044 220393 PROGRAM AND SCHOLARSHIP SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY ATHLETICS. 2254664 1815492 60694 ADDITIONAL SUPPORT TO APPALACHIAN STATE UNIVERSITY 2254664 1815492 60694 27782898 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 36 1 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 20 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 AK CO MA CA MD ME MI MN NH NJ NV NY OH OR SC UT WA X CLAYTON CHRISTIAN 8282622341 ASU BOX 32064 MCKINNEY ALUMNI CTR BOONE NC 286082064 HEATHER NORRIS BOARD MEMBER 1.00 39.00 X 0 398096 15745 WILLIAM SEARS PRESIDENT 30.00 10.00 X X 0 236234 80833 CANTEY ALEXANDER BOARD CHAIR 3.00 X X 0 0 0 JEANNINE UNDERWOOD COLLINS BOARD MEMBER 1.00 X 0 0 0 DENNIS COVINGTON BOARD TREASURER 3.00 X X 0 0 0 CAROLYN SCHMALENBERGER BOARD VICE CHAIR 3.00 X X 0 0 0 CHAD SEIGLER BOARD SECRETARY 1.00 X X 0 0 0 KYLER FERGUSON BOARD MEMBER 1.00 X 0 0 0 BO HENDERSON BOARD MEMBER 1.00 X 0 0 0 SAM POWERS BOARD MEMBER 1.00 X 0 0 0 JAMES REEVES BOARD MEMBER 1.00 X 0 0 0 MARK RICKS BOARD MEMBER 1.00 X 0 0 0 DAVID WILLIAMS BOARD MEMBER 1.00 X 0 0 0 WYATT DIXON BOARD MEMBER 1.00 X 0 0 0 DONNA FIORI BOARD MEMBER 1.00 X 0 0 0 JAMIE HARRIS BOARD MEMBER 1.00 X 0 0 0 IRENE SAWYER BOARD MEMBER 1.00 X 0 0 0 STEVE WYATT BOARD MEMBER 1.00 X 0 0 0 MISSY HARRILL BOARD MEMBER 1.00 X 0 0 0 BRETT HOGE BOARD MEMBER 1.00 X 0 0 0 CLAYTON CHRISTIAN ASSISTANT VICE CHANCELLOR 30.00 10.00 X 0 148553 48114 PAMELA HARDIN ASSISTANT VICE CHANCELLOR OF GIFT PLANNING/ REAL E 30.00 10.00 X 0 130817 41649 STEPHANIE BILLINGS EXECUTIVE DIRECTOR OF ALUMNI AFFAIRS 30.00 10.00 X 0 184096 57539 HAROLD SWAIM EXECUTIVE DIRECTOR OF DONOR ENGAGEME 30.00 10.00 X 0 141277 9953 KYLE ALLEN GIFT OFFICE, WCOB 30.00 10.00 X 0 150340 13714 MELINDA FRIDDELL SENIOR EXECUTIVE DIRECTOR OF DEVELOPMENT 30.00 10.00 X 0 122871 12457 0 1512284 280004 0 0 1 0 0 415961 36097182 3080234 36513143 OTHER PROGRAM REVENUE 900099 166579 166579 EVENT ADMISSIONS & MEALS 611710 116660 116660 283239 2068579 2068579 29697 4517 25180 16545 0 16545 16545 16545 3414119 3173713 240406 240406 240406 133988 415961 306696 -172708 -172708 197349 58010 139339 139339 MISCELLANEOUS 900099 23458 23458 23458 39141698 306697 4517 2317341 27342908 27342908 4407 4407 44000 44000 438732 438732 950468 18717 51432 880319 719 269 450 149472 22141 605 126726 134825 6894 32001 95930 62898 731 37037 25130 130527 30699 2918 96910 412164 98759 155 313250 304480 304480 161419 161419 67261 300 65343 1618 SUPPLIES 272622 232608 13438 26576 EQUIP RENTAL & MAINTENA 101371 28734 1500 71137 OTHER EXPENSES 28137 0 27641 496 DUES & SUBSCRIPTIONS 15213 138 888 14187 30621623 27782898 1185996 1652729 500 500 41551706 41206910 24006527 21686291 83636 34088 46596 43598 2449406 256348 2140006 2193058 172398559 199774667 127059 126351 240354589 265065463 237763 200512 4297095 3186977 5350741 5007858 1584747 1602980 11470346 9998327 X 12426666 14158561 216457577 240908575 228884243 255067136 240354589 265065463 X 8520075 20293859 -568430 -2062611 X X 0 1 X 1 0 X 20927941 28948655 30982363 29684927 36513143 147057029 3924068 4228363 4959151 4731268 4536378 22379228 24852009 33177018 35941514 34416195 41049521 169436257 466134 168970123 347859 172678 1003559 1841491 2105787 5471374 169481 870632 325641 230784 354798 1951336 176858967 2361825 0.95540 0.94790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 172613975 11093168 17864390 4221891 11 197349631 150958931 8704074 16617428 3664533 1925 172613975 150235099 6322652 -1928393 3669368 1059 150958931 139633281 11554131 4322803 5188722 86394 150235099 99046587 5069452 38731790 3077709 136839 139633281 0.05759 0.92763 0.01478 1 0 1884000 1884000 565406 256348 309058 2193058 UNC INVESTMENT FUND, LLC 196668652 F BENEFICIAL INTEREST IN PERPETUAL TRUSTS/OTHER 1536849 F REAL ESTATE HELD FOR INVESTMENT 1360000 F CARLYLE REALTY PARTNERS 209166 F 199774667 SPLIT INTEREST AGREEMENT 1386306 LEASES PAYABLE 85161 SBITA PAYABLE 131513 1602980 X 61835298 20293859 4536378 415447 25245684 36589614 438732 2113352 2552084 39141698 35083975 4536378 364706 4901084 30182891 438732 438732 30621623 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIP AWARDS AND SUPPORT OF UNIVERSITY PROGRAMS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION FILES FORM 990-T ANNUALLY AND REPORTS UNRELATED BUSINESS INCOME. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING AND GAMING EXPENSES NETTED WITH REVENUE 364,706. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 50,741. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN UNCOLLECTABLE PLEDGES RECEIVABLE 2,112,644. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 708. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING AND GAMING EXPENSES NETTED WITH REVENUE 364,706. X X X X X X 1 EAB 11011 WEST BROAD STREET GLEN ALLEN VA 23060 MULTI CHANNEL COMMUNICATIONS 0 243877 374381 -130504 CHANGE DEVELOP MOVE 16 FAY JONES LN BLACK MOUNTAIN NC 28711 CAMPAIGN CONSULTANT 0 0 54594 -54594 243877 428975 -185098 FOOTBALL GOLF 59450 46625 12825 8016 46665 42076 ATHLETICS LEDGENDS GALA DINNER 176606 137916 38690 12968 19343 32019 9 313893 231420 82473 8257 43283 94069 549949 415961 133988 29241 109291 168164 306696 -172708 197349 8023 49987 0 197349 8023 49987 58010 139339 NC 0 NORTH CAROLINA GENERAL STATUE SEC 14-309 15 PERMITS CERTAIN NONPROFIT ORGANIZATIONS TO CONDUCT FOUR RAFFLES PER YEAR. A RAFFLE CONDUCTED PURSUANT TO THIS SECTION IS NOT A VIOLATION OF STATE LAW. 0 0 0 1.00000 CLAYTON CHRISTIAN ASU BOX 32064 MCKINNEY ALUMNI CENTE BOONE NC 28608 0 DOUG BANKS 0 ASSOCIATE ATHLETICS DIRECTOR, DEVELOPMENT X 0 1 APPALACHIAN STATE UNIVERSITY OPERATIONS DEPARTMENT BOONE NC 28608 561176030 STATE GOV'T ENTITY 9421188 446703 FMV VARIOUS MISCELLANEOUS SUPPLIES SUPPORT FOR APPALACHIAN STATE UNIVERSITY PROGRAMS AND STUDENTS. APPALACHIAN STATE UNIVERSITY SCHOLARSHIP SUPPORT BOONE NC 28608 561176030 STATE GOV'T ENTITY 4777482 0 FMV SUPPORT FOR APPALACHIAN STATE UNIVERSITY SCHOLARSHIPS. APPALACHIAN STATE UNIVERSITY ATHLETIC FUND BOONE NC 28608 561176030 STATE GOV'T ENTITY 10746493 135550 FMV VARIOUS MISCELLANEOUS SUPPLIES SUPPORT FOR APPALACHIAN STATE UNIVERSITY STUDENT ATHLETE SCHOLARSHIPS AND PROGRAMS. APPALACHIAN STATE UNIVERSITY OTHER SUPPORT BOONE NC 28608 561176030 STATE GOV'T ENTITY 1815491 0 FMV GENERAL SUPPORT 1 PART I, LINE 2: APPALACHIAN STATE UNIVERSITY FOUNDATION WORKS WITH APPALACHIAN STATE UNIVERSITY TO ENSURE THAT THE GRANTS ARE BEING SPENT WITHIN THE CRITERIA OF THE GIFT OR ENDOWMENT AGREEMENTS. 0 0 0 0 0 0 0 0 0 HEATHER NORRIS BOARD MEMBER 0 398096 0 0 0 0 0 0 15745 0 15745 398096 0 0 WILLIAM SEARS PRESIDENT 0 236234 0 0 0 0 60643 0 20190 0 80833 236234 0 0 STEPHANIE BILLINGS EXECUTIVE DIRECTOR OF ALUMNI AFFAIRS 0 184096 0 0 0 0 46077 0 11462 0 57539 184096 0 0 CLAYTON CHRISTIAN ASSISTANT VICE CHANCELLOR 0 148553 0 0 0 0 37101 0 11013 0 48114 148553 0 0 PAMELA HARDIN ASSISTANT VICE CHANCELLOR OF GIFT PL 0 130817 0 0 0 0 32358 0 9291 0 41649 130817 0 0 KYLE ALLEN GIFT OFFICE, WCOB 0 150340 0 0 0 0 0 0 13714 0 13714 150340 0 0 HAROLD SWAIM EXECUTIVE DIRECTOR OF DONOR ENGAGEME 0 141277 0 0 0 0 0 0 9953 0 9953 141277 0 0 PART I, LINE 3 COMPENSATION OF THE PRESIDENT, CFO AND ANY OTHER EMPLOYEE OF APPALACHIAN STATE UNIVERSITY THAT PROVIDES SERVICES TO THE FOUNDATION IS ESTABLISHED THROUGH THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT IN ACCORDANCE WITH GUIDELINES ESTABLISHED BY THE STATE OF NORTH CAROLINA. X 13 94948 APPRAISAL X 76 1212483 MARKET QUOTE X 1 1130000 FMV X 24 55355 COST X SUPPLIES AND EQUIPMENT 36 441741 COST 0 1 0 SCH M, PART I, COLUMN B THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS AND DISCUSSES THE FORM 990 WITH THE PREPARER AND THEN THE FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS FOR REVIEW, WITH THE EXCEPTION OF SCHEDULE B WHICH THE BOARD MEMBERS WILL NOT BE ABLE TO REVIEW. THE RETURN IS FILED AFTER THE FORM 990 IS SENT TO THE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION ATTORNEY MEETS WITH THE BOARD OF DIRECTORS ANNUALLY TO REVIEW THE CONFLICT OF INTEREST POLICY. BOARD MEMBERS RECEIVE THE CONFLICT OF INTEREST ANNUAL REPORTING STATEMENT AT THE MEETING FOR COMPLETION AND RETURN IT TO THE FOUNDATION OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DOES NOT COMPENSATE ITS PRESIDENT OR OFFICERS. THEY ARE COMPENSATED BY APPALACHIAN STATE UNIVERSITY, A GOVERNMENTAL INSTITUTION. EXECUTIVE COMPENSATION IS REVIEWED AND APPROVED BY UNIVERSITY HUMAN RESOURCES. UNIVERSITY HUMAN RESOURCES RELY ON PERFORMANCE EVALUATIONS, PEER AND INDUSTRY COMPARISONS, AND ANY ADDITIONAL INDEPENDENT DATA RECEIVED TO SET THE EXECUTIVE COMPENSATION. THE DECISION IS DOCUMENTED IN THE UNIVERSITY'S RECORDS. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST TO THE FOUNDATION ACCOUNTING OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 50,741. CHANGE IN ALLOWANCE FOR UNCOLLECTABLE PLEDGES RECEIVABLE -2,112,644. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -708. FORM 990 PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. FORM 990 PART VI, SECTION C LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST TO THE FOUNDATION ACCOUNTING OFFICE. APPALACHIAN STATE UNIVERSITY 287 RIVERS STREET BOONE NC 28608 561176030 PUBLIC UNIVERSITY NC STATE GOV'T ENTITY N/A N/A 0 CHARITABLE REMAINDER TRUSTS (11) ASSET INVESTMENT NC ASU FDN 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 APPALACHIAN STATE UNIVERSITY B 26760654 ACTUAL CASH TRANSFERRED APPALACHIAN STATE UNIVERSITY B 582253 COST APPALACHIAN STATE UNIVERSITY O 4503828 FMV APPALACHIAN STATE UNIVERSITY N 32550 FMV