North Carolina State University Foundation Inc in Raleigh, North Carolina (NC)

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North Carolina State University Foundation Inc
Employer Identification Number (EIN)566049503
Name of OrganizationNorth Carolina State University Foundation Inc
AddressNcsu Box 7207, Raleigh, NC 27695-0001
ActivitiesOther school related activities
SubsectionCharitable Organization
Ruling Date02/1949
DeductibilityContributions are deductible
FoundationOrganization which operates for benefit of college or university and is owned or operated by a governmental unit
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$324,594,333
Amount of Income$72,548,170
Form 990 Revenue Amount$66,351,145
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2014: $72,548,170
This organization: 

 $72,548,170
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2014: $324,594,333
This organization: 

 $324,594,333
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2013: $17,505,460
This organization: 

 $17,505,460
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2013: 4.1
This organization: 

 4.1
Other organizations performing similar types of work: 

 2.5

Expenses allocated to program services in 2007: 93.4%
This organization: 

 93.4%
Other organizations performing similar types of work: 

 84.4%

Grants share in income in 2013: 92.6%
North Carolina State University Foundation Inc: 

 92.6%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?Yes
Is the organization required to complete Schedule B, Schedule of Contributors?Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?No
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?Yes
Did the organization report an amount for land, buildings, and equipment?Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?Yes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?No
Did the organization report an amount for other assets that is 5% or more of its total assets?Yes
Did the organization report an amount for other liabilities?Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?Yes
Did the organization obtain separate, independent audited financial statements for the tax year?Yes
Was the organization included in consolidated, independent audited financial statements for the tax year?Yes
Is the organization a school described in section 170(b)(1)(A)(ii)?No
Did the organization maintain an office, employees, or agents outside of the United States?No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?No
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?Yes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?Yes
Did the organization report more than $15,000 of gross income from gaming activities?No
Did the organization operate one or more hospital facilities?No
Did the organization attach a copy of its audited financial statements?No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?Yes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?No
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?No
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?No
A family member of a current or former officer, director, trustee, or key employee?No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?No
Did the organization receive more than $25,000 in non-cash contributions?Yes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?No
Did the organization liquidate, terminate, or dissolve and cease operations?No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?Yes
Was the organization related to any tax-exempt or taxable entity?Yes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?No
Did the organization make any transfers to an exempt non-charitable related organization?No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?No
Statements Regarding Other IRS Filings and Tax Compliance
20122013
The number reported in Box 3 of Form 109641
The number of Forms W-2G0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?Yes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return0
Did the organization file all required federal employment tax returns?No
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNo
Has it filed a Form 990-T for this year?No
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?No
Did the organization file Form 8886-T?No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?No
Did the organization notify the donor of the value of the goods or services provided?No
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?No
Did the sponsoring organization make any taxable distributions under section 4966?No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?No
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities $0$0
Gross income from members or shareholders$0$0
Gross income from other sources$0$0
Is the organization filing Form 990 in lieu of Form 1041?No
The amount of tax-exempt interest received or accrued during the year$0
Is the organization licensed to issue qualified health plans in more than one state?No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0
The amount of reserves on hand$0
Did the organization receive any payments for indoor tanning services during the tax year?No
Has it filed a Form 720 to report these payments?No
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$0
Total reportable compensation from related organizations$964,714
Total estimated amount of other compensation from the organization and related organizations$139,420
Total number of individuals who received more than $100,000 of reportable compensation from the organization0
Total number of independent contractors who received more than $100,000 of compensation from the organization0
Statement of Revenue
20122013
Total revenue$29,523,437$100,496,400
Contributions, Gifts, Grants and Other Similar Amounts$25,429,496$93,078,861
Program Service Revenue$3,422,084$5,793,506
Educational Support Services$5,793,506
All other program service revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$257,530$258,675
Income from investment of tax-exempt bond proceeds$0$0
Royalties$0$0
Net rental income$0$0
Net gain/loss from sales of assets other than inventory$576,969$1,454,740
Gross amount from sales of assets other than inventory (Securities / Other)$7,625,596 / $0$28,848,650 / $0
Less: cost or other basis and sales expenses (Securities / Other)$7,048,627 / $0$27,393,910 / $0
Gain or (loss) (Securities / Other)$576,969 / $0$1,454,740 / $0
Net income/loss from fundraising events$-162,642$-89,382
Gross income from fundraising events$104,089$91,744
Less: direct expenses$266,731$181,126
Net income/loss from gaming activities$0$0
Net income/loss from sales of inventory$0$0
Miscellaneous Revenue$0$0
Statement of Functional Expenses
20122013
Total functional expenses$12,651,462$17,505,460
Grants and other assistance to domestic organizations and domestic governments$5,489,620
Grants and other assistance to domestic individuals$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, trustees, and key employees$0$0
Compensation not included above, to disqualified persons$0
Other salaries and wages$0$0
Pension plan accruals and contributions$0
Other employee benefits$0
Payroll taxes$0$0
Fees for services (non-employees)
Management$0
Legal$43,164
Accounting$207,150
Lobbying$0
Professional fundraising services$391,120$458,820
Investment management fees$433,656
Other$53,041
Advertising and promotion$148,547
Office expenses$184,121
Information technology$0
Royalties$0
Occupancy$410,218
Travel$540,026
Payments of travel or entertainment expenses for any federal, state, or local public officials$0
Conferences, conventions, and meetings$179,308
Interest$0
Payments to affiliates$0
Depreciation, depletion, and amortization$139,201
Insurance$14,571
Other expenses$5,302,438
Other expenses$1,365,643
Other expenses$1,145,448
Other expenses$941,219
Other expenses$449,269
Balance Sheet
20122013
Total assets$158,238,891$252,561,687
Cash - non-interest-bearing$1,040,410
Savings and temporary cash investments$18,459,346
Pledges and grants receivable, net$50,488,582
Accounts receivable, net$163,955
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0
Notes and loans receivable, net$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$0
Land, buildings, and equipment: cost or other basis$6,829,188
Investments - publicly traded securities$0
Investments - other securities$153,664,357
Investments - program-related$0
Intangible assets$0
Other assets$21,915,849
Total liabilities$19,539,718$19,154,597
Accounts payable and accrued expenses$467,356
Grants payable$0
Deferred revenue$8,156
Tax-exempt bond liabilities$0$0
Escrow or custodial account liability$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0
Secured mortgages and notes payable to unrelated third parties$0$0
Unsecured notes and loans payable to unrelated third parties$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$18,679,085
Total net assets or fund balances$138,699,173$233,407,090
Unrestricted net assets$8,555,315
Temporarily restricted net assets$57,015,315
Permanently restricted net assets$167,836,460
Capital stock or trust principal, or current funds$0
Paid-in or capital surplus, or land, building, or equipment fund$0
Retained earnings, endowment, accumulated income, or other funds$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$34,856,664
Subtotal Support$110,486,976
Gifts, grants, contributions, and membership fees received$110,486,976
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$75,630,312
Total Support$111,810,979
Public Support$110,486,976
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,324,003
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$17,965,987
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$7,489,283$12,896,155$8,094,210$10,443,708$13,951,348$13,015,382$25,195,597$28,166,988
Contributions, gifts, grants, and similar amounts received$5,795,485$14,126,963$8,109,420$6,132,273$8,147,193$7,697,553$11,617,025$22,482,668
Contributions to donor advised funds$0$0
Direct public support$5,795,485$14,121,249$8,109,420$6,132,273$8,147,193$7,697,553$11,617,025$22,482,668
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$5,714$0$0$0$0$0$0
Program service revenue including government fees and contracts$460,347$528,355$580,600$627,438$854,748$867,150$1,343,364$1,741,933
Membership dues and assessments$0$0$0$775,090$1,268,790$1,088,062$1,199,615$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$1,802,802$1,492,708$1,561,970$1,128,083$1,350,662$1,078,292$2,892,568$1,803,948
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-569,351$-3,251,871$-2,157,780$1,777,756$2,310,269$2,241,648$8,095,031$2,102,142
Gross amount from sales of assets other than inventory$4,076,062$2,124,678$1,400,159$5,070,792$20,731,983$8,144,775$11,355,948$6,520,879
Less: cost or other basis and sales expenses$4,645,413$5,376,549$3,557,939$3,293,036$18,421,714$5,903,127$3,260,917$4,418,737
Net income or (loss) from special events and activities$0$0$0$3,068$19,686$42,677$47,994$36,297
Gross revenue$0$0$0$77,226$87,516$93,923$108,339$104,304
Less: direct expenses other than fundraising expenses$0$0$0$74,158$67,830$51,246$60,345$68,007
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Total expenses$4,657,443$5,173,864$4,704,466$6,076,336$12,534,523$10,670,130$9,809,017$11,840,075
Program services$3,564,574$4,423,942$4,008,926$5,733,998$12,150,557$10,091,643$8,808,566$11,054,326
Management and general$53,358$91,955$95,255$100,840$90,336$92,422$405,608$236,458
Fundraising$1,039,511$657,967$600,285$241,498$293,630$486,065$594,843$549,291
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$48,141,871$56,254,921$61,989,357$68,867,018$69,823,569$73,456,582$88,041,637$95,607,481
Excess or (deficit) for the year$2,831,840$7,722,291$3,389,744$4,367,372$1,416,825$2,345,252$15,386,580$16,326,913
Net assets or fund balances at beginning of year$47,091,809$48,141,871$56,254,921$61,989,357$68,867,018$69,823,569$73,456,582$88,041,637
Other changes in net assets or fund balances$-1,781,778$390,759$2,344,692$2,510,289$-460,274$1,287,761$-801,525$-8,761,069
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$11,840,075$11,054,326$236,458$549,291
Grants paid from donor advised funds$0
Other grants and allocations$1,545,625
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,197,942$1,167,764$0$30,178
Pension plan contributions not included above$100,980$98,209$0$2,771
Employee benefits not included above$207,814$199,552$0$8,262
Payroll taxes$75,031$73,260$0$1,771
Professional fundraising fees$0$0$0$0
Accounting fees$87,191$68,091$19,100$0
Legal fees$4,063$0$4,063$0
Supplies$482,848$412,664$0$70,184
Telephone$82,365$30,724$0$51,641
Postage and shipping$63,445$43,447$0$19,998
Occupancy$78,770$75,306$0$3,464
Equipment rental and maintenance$159,374$106,697$0$52,677
Printing and publications$230,070$183,257$0$46,813
Travel$368,375$312,671$0$55,704
Conferences, conventions, and meetings$117,163$97,017$0$20,146
Interest$0$0$0$0
Depreciation, depletion, etc.$28,508$5,182$23,326$0
Other expenses not covered above$7,010,511$6,634,860$189,969$185,682
Balance Sheets
20002001200220032004200520062007
Total assets$51,983,384$59,536,789$66,813,415$73,933,553$74,944,496$78,692,843$93,109,310$102,465,010
Cash - non-interest-bearing$190,662$40,430$1,356,517$1,360,380$507,633$583,613$1,004,033$2,748,727
Savings and temporary cash investments$9,557,766$16,543,245$17,320,832$18,752,110$6,781,903$5,399,753$6,091,778$2,297,086
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$653,746$34,709
Pledges receivable less allowance for doubtful accounts$2,325,724$6,556,226$8,198,628$8,082,781$6,572,558$5,389,717$7,648,575$21,598,389
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$77,005,446$72,602,602
Investments - other securities$39,588,701$36,065,370$36,703,178$43,464,015$59,742,764$66,836,087$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$251,973$225,593$3,155,779$2,185,567$1,158,635$328,580$529,296$2,967,106
Other assets, including program-related investments$68,558$105,925$78,481$88,700$181,003$155,093$176,436$216,391
Total liabilities$3,841,513$3,281,868$4,824,058$5,066,535$5,120,927$5,236,261$5,067,673$6,857,529
Accounts payable and accrued expenses$3,423,431$90,362$83,490$123,080$63,923$75,662$105,955$202,374
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$418,082$3,191,506$4,740,568$4,943,455$5,057,004$5,160,599$4,961,718$6,655,155
Total liabilities and net assets/fund balances$51,983,384$59,536,789$66,813,415$73,933,553$74,944,496$78,692,843$93,109,310$102,465,010
Total net assets or fund balances$48,141,871$56,254,921$61,989,357$68,867,018$69,823,569$73,456,582$88,041,637$95,607,481
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$7,489,283$12,896,155$8,094,210$10,443,708$13,951,348$13,015,382$25,195,597$28,166,988
Total revenue, gains, and other support per audited financial statements$5,236,155$13,053,955$9,447,115$13,096,055$13,715,804$14,544,889$24,262,390$19,603,450
Other expenses$-2,253,128$157,800$1,352,905$2,578,189$-303,374$1,478,261$-633,225$387,500
Net unrealized gains on investments$-1,704,802$449,354$1,076,824$2,697,620$-254,671$1,707,016$-239,642$0
Donated services and use of facilities$142,100$141,800$156,000$167,900$156,900$190,500$168,300$387,500
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$-690,426$-433,354$120,081$-287,331$-205,603$-419,255$-561,883$0
Other revenue$0$0$0$-74,158$-67,830$-51,246$299,982$8,951,038
Investment expenses$0$0$0$0$0$0$299,982$189,969
Other$0$0$0$-74,158$-67,830$-51,246$0$8,761,069
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$4,657,443$5,173,864$4,704,466$6,076,336$12,534,523$10,670,130$9,809,017$11,840,075
Total expenses and losses per audited financial statements$4,799,543$5,315,664$4,860,466$6,318,394$12,759,253$10,911,876$9,677,335$12,037,606
Other revenue$142,100$141,800$156,000$242,058$224,730$241,746$168,300$387,500
Donated services and use of facilities$142,100$141,800$156,000$167,900$156,900$190,500$168,300$387,500
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$74,158$67,830$51,246$0$0
Other expenses$0$0$0$0$0$0$299,982$189,969
Investment expenses$0$0$0$0$0$0$299,982$189,969
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings17
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$3,906,090$1,778,230
Program service revenue
Program service revenue 1000000$000$0$1,741,933
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,803,948$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$2,102,142$0
Net income or (loss) from special events000000$000$0$36,297
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization operated for the benefit of a college or university
Support Schedule
19992000200120022003200420052006
Total$5,540,806$8,058,634$16,148,026$11,152,642$7,887,794$10,352,603$11,956,575$14,187,962
Gifts, grants, and contributions received$4,078,652$5,795,485$14,126,963$8,109,420$6,132,273$8,147,193$8,880,394$8,704,421
Membership fees received$0$0$0$900,652$0$0$1,088,062$1,199,615
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$398,604$460,347$528,355$580,600$627,438$854,748$909,827$1,391,358
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$1,063,550$1,802,802$1,492,708$1,561,970$1,128,083$1,350,662$1,078,292$2,892,568
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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1Gothic Corporation280 S Mangum St Ste 210, Durham, NC 27701-3675NC1993-09$1,640,573,970
2The University Of Nc At Chapel Hill Foundation Investment Fund Inc104 Airport Dr Campus Box 1270, Chapel Hill, NC 27599-5023NC1996-06$281,704,423
3Nc State Investment Fund IncNcsu Box 7207, Raleigh, NC 27695-0001NC1998-08$80,644,803
4North Carolina State University Foundation IncNcsu Box 7207, Raleigh, NC 27695-0001NC1949-02$72,548,170
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6Medical Foundation Of North Carolina Inc880 Martin Luther King Jr Blvd, Chapel Hill, NC 27514-2600NC1951-07$32,923,992
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13Winston-Salem State University Foundation Incorporated, Simon Green Atkins House601 S Martin Luther King Jr Dr, Winston Salem, NC 27110-0003NC1972-03$8,088,290
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Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701

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