MEREDITH COLLEGE: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- MEREDITH COLLEGE (EIN 56-0530242)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-04-05
- IRS object ID
- 202420969349300007
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-04-05T07:49:45-05:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 882730877 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHERRY BEKAERT ADVISORY LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3800 GLENWOOD AVE SUITE 200 | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27612 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560530242 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEREDITH COLLEGE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MERE | BusinessNameControlTxt |
| Phone | 9197608600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3800 HILLSBOROUGH STREET | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27607 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR TAMMI D JACKSON | PersonNm |
| Person Title | VP FOR BUSINESS & FINANCE | PersonTitleTxt |
| Phone | 9197608600 | PhoneNum |
| Signature | 2024-03-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DR | PersonFirstNm |
| Person Last | TAMMI D JACKSON | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AMY DOSIK | PreparerPersonNm |
| PTIN | P00890743 | PTIN |
| Phone | 9197821040 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DR JO ALLEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3800 HILLSBOROUGH STREET | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27607 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $108,887,996 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MEREDITH.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1891 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | FOUNDED IN 1891, MEREDITH IS ONE OF THE LARGEST WOMEN'S COLLEGES IN THE SOUTHEAST. MEREDITH OFFERS COMPREHENSIVE LIBERAL ARTS AND PROFESSIONAL STUDIES FOR UNDERGRADUATE WOMEN. AT THE GRADUATE LEVEL, MEREDITH OFFERS CO-EDUCATIONAL MBA, M.A.T., M.ED., M.S. IN NUTRITION, M.A. IN I-O PSYCHOLOGY, M.A. IN BIOMEDICAL SCIENCES, AND M.A. IN CRIMINAL JUSTICE PROGRAMS. POST-BACCALAUREATE CERTIFICATE PROGRAMS INCLUDE CRIMINAL JUSTICE, DIGITAL MEDIA, DIETETICS, PARALEGAL, AND PRE-HEALTH. | ActivityOrMissionDesc |
| Voting Members Governing Body | 35 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 35 | VotingMembersIndependentCnt |
| Total Employee | 1138 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | -$6,109 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $14,819,446 | PYContributionsGrantsAmt |
| CY Contributions Grants | $15,772,634 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $70,508,687 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $68,392,393 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8,230,948 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,750,548 | CYInvestmentIncomeAmt |
| PY Other Revenue | $34,720 | PYOtherRevenueAmt |
| CY Other Revenue | -$4,420 | CYOtherRevenueAmt |
| PY Total Revenue | $93,593,801 | PYTotalRevenueAmt |
| CY Total Revenue | $85,911,155 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $32,029,262 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $30,878,150 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $33,145,049 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $33,503,172 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $2,119,330 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $24,173,987 | PYOtherExpensesAmt |
| CY Other Expenses | $22,420,393 | CYOtherExpensesAmt |
| PY Total Expenses | $89,348,298 | PYTotalExpensesAmt |
| CY Total Expenses | $86,801,715 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,245,503 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$890,560 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $208,277,395 | TotalAssetsBOYAmt |
| Total Assets EOY | $213,016,312 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $62,066,423 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $58,277,765 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $146,210,972 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $154,738,547 | NetAssetsOrFundBalancesEOYAmt |
| Mission | MEREDITH COLLEGE, GROUNDED IN THE LIBERAL ARTS AND COMMITTED TO PROFESSIONAL PREPARATION, EDUCATES AND INSPIRES STUDENTS TO LIVE WITH INTEGRITY AND PROVIDE LEADERSHIP FOR THE NEEDS, OPPORTUNITIES AND CHALLENGES OF SOCIETY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $65,200,980 | ExpenseAmt |
| Grant | $29,556,163 | GrantAmt |
| Revenue | $58,921,702 | RevenueAmt |
| Desc | MEREDITH COLLEGE CHALLENGES STUDENTS TO DISCOVER WHAT MAKES THEM STRONG, BUILD ON THOSE STRENGTHS, AND PREPARE TO MAKE A POSITIVE IMPACT ON THE WORLD. WITH MORE THAN 90 MAJORS AND MINORS, OVER 30 GRADUATE AND CERTIFICATE PROGRAMS, AND STRONGPOINTS, A POWERFUL STRENGTHS-FOCUSED PERSONAL COACHING INITIATIVE, IT'S NO WONDER U.S. NEWS, THE PRINCETON REVIEW, AND NICHE HAVE ALL NAMED MEREDITH A "BEST COLLEGE." | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $8,265,565 | ExpenseAmt |
| Grant | $1,321,987 | GrantAmt |
| Revenue | $9,470,691 | RevenueAmt |
| Desc | AUXILIARY ENTERPRISES: THE COLLEGE PROVIDES A NUMBER OF SERVICES THAT SUPPORT LEARNING, BUILD COMMUNITY AND ENHANCE THE OVERALL QUALITY OF STUDENT LIFE. THESE INCLUDE, BUT ARE NOT LIMITED TO, RESIDENTIAL HOUSING, APARTMENTS, DINING, CAMPUS STORE AND MAIL SERVICES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $73,466,545 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 2366 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 1138 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | IT | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | Yes (1) | Form8282PropertyDisposedOfInd |
| Form8282 Filed | 1 | Form8282FiledCnt |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 35 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 35 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DR TAMMI D JACKSON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9197608516 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3800 HILLSBOROUGH ST | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27607 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (46 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| DR YVETTE BROWN | |||||||||
| CHAIRMAN | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| CHARLES ROYAL | |||||||||
| VICE CHAIRMAN | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| CAROLYN LEITH | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ELIZABETH TRIPPLETT BEAM | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID BRANCH JR | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| LENA EPPS BROOKER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| DR LEE CANIPE | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| PATTY CEASE | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ADRIENNE COLE | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| BILL CROUCH | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ANDREA OAKLEY FOX | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ELLA FRANTZ | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| JENA GALLAGHER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| JAMES GAYNOR | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| LESLIE HAYES | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ALMA AMMONS HOFFMANN | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ALEX HOLMES | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| BRENDA HUGHES | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| PATRICIA JOHNSON | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ANN LOWERY | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| JENN MANN | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| DEBORAH STANLEY MCNEILL | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| QUINTALA PARHAM | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| SARAH PARKER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| LISA POOLE | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| CHRIS ROLFE | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| CLAIRE SLAUGHTER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| SILDA WALL SPITZER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| CHUCK STUBER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| FRAN TETER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| DONNA THAGARD | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| CAROL TILLMAN | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| RICHARD URQUHART | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| DR DAVID WARREN | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID WILLIAMS | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| DR JO ALLEN | |||||||||
| PRESIDENT | 40.00 | 0.00 | Yes (X) | $365,068 | $0 | $42,555 | |||
| N JEAN JACKSON | |||||||||
| VP COLLEGE PROGAMS | 40.00 | 0.00 | Yes (X) | $198,378 | $0 | $16,110 | |||
| TAMMI JACKSON | |||||||||
| VP FOR BUS/FIN | 40.00 | 0.00 | Yes (X) | $182,259 | $0 | $17,076 | |||
| K EAVES MCLENNAN | |||||||||
| VP MARKETING/COMMUNICATIONS | 40.00 | 0.00 | Yes (X) | $130,723 | $0 | $14,266 | |||
| MATTHEW POSLUSNY | |||||||||
| SENIOR VP & PROVOST | 40.00 | 0.00 | $198,402 | $0 | $16,078 | Yes (X) | |||
| CHARLES BARTON | |||||||||
| VP INST ADV | 40.00 | 0.00 | $200,208 | $0 | $10,419 | Yes (X) | |||
| KIMBERLY BURKE | |||||||||
| DEAN | 40.00 | 0.00 | $190,491 | $0 | $16,807 | Yes (X) | |||
| JEFFREY HOWLETT | |||||||||
| CIO | 40.00 | 0.00 | $155,450 | $0 | $15,170 | Yes (X) | |||
| KRISTIE OGILVIE | |||||||||
| DEAN/PROFESSOR | 40.00 | 0.00 | $155,063 | $0 | $4,221 | Yes (X) | |||
| ELIZABETH WOLFINGER | |||||||||
| DEAN | 40.00 | 0.00 | $151,588 | $0 | $8,378 | Yes (X) | |||
| BING YU | |||||||||
| PROFESSOR | 40.00 | 0.00 | $140,387 | $0 | $13,785 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,068,017 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $174,865 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 33 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| ARAMARK CORPORATION | |||||
| 27310 NETWORK PLACE | CHICAGO | IL | 60673 | DINING AND FACILITIES MGMT. | $3,286,475 |
| INLAND CONSTRUCTION | |||||
| PO BOX 26027 | RALEIGH | NC | 27611 | FACILITIES CONTRACTOR | $1,983,302 |
| PINNACLE BUSINESS SOLUTIONS | |||||
| 192 RICHMOND HILL AVE STE 19 | STAMFORD | CT | 06902 | IT SERVICES | $589,513 |
| WOMBLE BOND DICKINSON | |||||
| PO BOX 84 | WINSTONSALEM | NC | 27102 | LEGAL | $400,730 |
| CHERRY BEKAERT | |||||
| 3800 GLENWOOD AVE STE 200 | RALEIGH | NC | 27612 | ACCOUNTING | $283,610 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 12 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $113,863 | FundraisingAmt |
| Government Grants | $7,141,554 | GovernmentGrantsAmt |
| All Other Contributions | $8,517,217 | AllOtherContributionsAmt |
| Noncash Contributions | $1,235,080 | NoncashContributionsAmt |
| Total Contributions | $15,772,634 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 900099 | $58,921,702 | $58,921,702 |
| HOUSING, DINING & OTHER | 900099 | $8,015,395 | $8,015,395 |
| WORKSHOPS & OTHER FEES | 900099 | $1,455,296 | $1,455,296 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $68,392,393 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,315,874 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$6,109 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,321,983 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $23,384,679 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $22,872,705 | SecuritiesAmt |
| Other | $77,300 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $511,974 | SecuritiesAmt |
| Other | -$77,300 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $434,674 | TotalRevenueColumnAmt |
| Exclusion | $434,674 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $22,416 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $113,863 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $26,836 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$4,420 | TotalRevenueColumnAmt |
| Exclusion | -$4,420 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $85,911,155 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $68,392,393 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$6,109 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,752,237 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,878,150 | TotalAmt |
| Program Services | $30,878,150 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,391,542 | TotalAmt |
| Program Services | $428,968 | ProgramServicesAmt |
| Management And General | $751,947 | ManagementAndGeneralAmt |
| Fundraising | $210,627 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,447,627 | TotalAmt |
| Program Services | $19,561,585 | ProgramServicesAmt |
| Management And General | $4,671,618 | ManagementAndGeneralAmt |
| Fundraising | $1,214,424 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,207,983 | TotalAmt |
| Program Services | $891,415 | ProgramServicesAmt |
| Management And General | $258,920 | ManagementAndGeneralAmt |
| Fundraising | $57,648 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,495,282 | TotalAmt |
| Program Services | $2,560,982 | ProgramServicesAmt |
| Management And General | $768,500 | ManagementAndGeneralAmt |
| Fundraising | $165,800 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,960,738 | TotalAmt |
| Program Services | $1,446,901 | ProgramServicesAmt |
| Management And General | $420,266 | ManagementAndGeneralAmt |
| Fundraising | $93,571 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116,867 | TotalAmt |
| Management And General | $116,867 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $405,186 | TotalAmt |
| Management And General | $405,186 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,107,063 | TotalAmt |
| Program Services | $845,229 | ProgramServicesAmt |
| Management And General | $261,834 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $511,027 | TotalAmt |
| Program Services | $185,578 | ProgramServicesAmt |
| Management And General | $204,919 | ManagementAndGeneralAmt |
| Fundraising | $120,530 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $433 | TotalAmt |
| Program Services | $433 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,785,017 | TotalAmt |
| Program Services | $2,617,916 | ProgramServicesAmt |
| Management And General | $167,101 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $316,474 | TotalAmt |
| Program Services | $246,843 | ProgramServicesAmt |
| Management And General | $9,017 | ManagementAndGeneralAmt |
| Fundraising | $60,614 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,912,788 | TotalAmt |
| Program Services | $1,798,021 | ProgramServicesAmt |
| Management And General | $114,767 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,736,498 | TotalAmt |
| Program Services | $2,572,308 | ProgramServicesAmt |
| Management And General | $164,190 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $498,463 | TotalAmt |
| Program Services | $9,377 | ProgramServicesAmt |
| Management And General | $489,086 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| EXPENDITURES OF RESTRIC | $5,529,315 | $5,529,315 | ||
| FOOD AND FOOD SERVICE | $2,048,636 | $2,048,636 | ||
| SUPPLIES | $1,424,918 | $1,171,893 | $253,025 | |
| EQUIPMENT | $775,150 | $367,778 | $407,218 | $154 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,252,558 | TotalAmt |
| Program Services | $305,217 | ProgramServicesAmt |
| Management And General | $1,751,379 | ManagementAndGeneralAmt |
| Fundraising | $195,962 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $86,801,715 | TotalAmt |
| Program Services | $73,466,545 | ProgramServicesAmt |
| Management And General | $11,215,840 | ManagementAndGeneralAmt |
| Fundraising | $2,119,330 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,306 | BOYAmt |
| EOY | $1,300 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,430,463 | BOYAmt |
| EOY | $17,734,424 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,971,754 | BOYAmt |
| EOY | $4,426,758 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,549,586 | BOYAmt |
| EOY | $1,210,908 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $122,389 | BOYAmt |
| EOY | $161,189 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,337 | BOYAmt |
| EOY | $386,497 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $159,734,438 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $100,344,422 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,736,180 | BOYAmt |
| EOY | $59,390,016 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,050,842 | BOYAmt |
| EOY | $86,854,196 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,430,338 | BOYAmt |
| EOY | $42,438,067 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $934,200 | BOYAmt |
| EOY | $412,957 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $208,277,395 | BOYAmt |
| EOY | $213,016,312 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,426,725 | BOYAmt |
| EOY | $3,646,203 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,645,506 | BOYAmt |
| EOY | $943,667 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,321,307 | BOYAmt |
| EOY | $40,559,674 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $255,922 | BOYAmt |
| EOY | $163,845 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,725,000 | BOYAmt |
| EOY | $2,625,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,691,963 | BOYAmt |
| EOY | $10,339,376 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,066,423 | BOYAmt |
| EOY | $58,277,765 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,233,386 | BOYAmt |
| EOY | $24,580,148 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $124,977,586 | BOYAmt |
| EOY | $130,158,399 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $146,210,972 | BOYAmt |
| EOY | $154,738,547 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $208,277,395 | BOYAmt |
| EOY | $213,016,312 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$890,560 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $9,370,053 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $48,082 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $124,715,059 | BeginningYearBalanceAmt |
| Contributions | $3,459,992 | ContributionsAmt |
| Investment Earnings Or Losses | $10,461,819 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $5,380,290 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,156,022 | OtherExpendituresAmt |
| End Year Balance | $130,100,558 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $144,589,705 | BeginningYearBalanceAmt |
| Contributions | $3,976,439 | ContributionsAmt |
| Investment Earnings Or Losses | -$15,829,789 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $4,068,540 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,952,756 | OtherExpendituresAmt |
| End Year Balance | $124,715,059 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $115,101,611 | BeginningYearBalanceAmt |
| Contributions | $1,671,535 | ContributionsAmt |
| Investment Earnings Or Losses | $32,641,867 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,772,599 | GrantsOrScholarshipsAmt |
| Other Expenditures | $2,052,709 | OtherExpendituresAmt |
| End Year Balance | $144,589,705 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $115,701,677 | BeginningYearBalanceAmt |
| Contributions | $3,751,027 | ContributionsAmt |
| Investment Earnings Or Losses | $3,029,648 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,529,584 | GrantsOrScholarshipsAmt |
| Other Expenditures | $4,851,157 | OtherExpendituresAmt |
| End Year Balance | $115,101,611 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $113,533,181 | BeginningYearBalanceAmt |
| Contributions | $4,631,425 | ContributionsAmt |
| Investment Earnings Or Losses | $3,562,062 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,647,131 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,377,860 | OtherExpendituresAmt |
| End Year Balance | $115,701,677 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.14480 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.85520 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.00000 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $125,800 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $350,034 | OtherCostOrOtherBasisAmt |
| Book Value | $475,834 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $141,239,464 | OtherCostOrOtherBasisAmt |
| Depreciation | $85,453,421 | DepreciationAmt |
| Book Value | $55,786,043 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,982,867 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,891,001 | DepreciationAmt |
| Book Value | $2,091,866 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,036,273 | OtherCostOrOtherBasisAmt |
| Book Value | $1,036,273 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $59,390,016 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| FUND OF FUNDS | $19,653,158 | F |
| PRIVATE EQUITY | $18,154,075 | F |
| PRIVATE REAL ESTATE FUNDS | $167,787 | F |
| REITS | $4,463,047 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $42,438,067 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCRUED POSTRETIREMENT BENEFIT OBLIGATIONS | $7,477,697 |
| ASSET RETIREMENT OBLIGATION | $2,314,345 |
| DUE TO DONORS OF TRUSTS | $252,926 |
| OPERATING LEASE LIABILITIES | $94,809 |
| STUDENT DEPOSITS | $199,599 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $10,339,376 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $65,394,777 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $9,370,053 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$29,481,245 | OtherRevenueAmt |
| Revenue Not Reported | -$20,111,192 | RevenueNotReportedAmt |
| Revenue Subtotal | $85,505,969 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $405,186 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $405,186 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $85,911,155 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $56,867,202 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $26,836 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $26,836 | ExpensesNotReportedAmt |
| Expenses Subtotal | $56,840,366 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $405,186 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $29,556,163 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $29,961,349 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $86,801,715 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE COLLEGE HOLDS FUNDS IN A CUSTODIAL CAPACITY FOR STUDENT ORGANIZATIONS. |
| PART V, LINE 4: | THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 563 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. |
| PART X, LINE 2: | THE COLLEGE'S POLICY IS TO RECORD A LIABILITY FOR UNRECOGNIZED TAX BENEFITS, AND ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT A TAX POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2023 AND 2022 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN POSTRETIREMENT BENEFIT OBLIGATIONS 48,082. INSTITUTIONAL GRANTS SHOWN NET OF TUITION ON FINANCIALS -29,556,163. SPECIAL EVENT EXPENSES REPORTED NET OF REVENUE 26,836. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | SPECIAL EVENT EXPENSES REPORTED NET OF REVENUE 26,836. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INSTITUTIONAL GRANTS SHOWN NET OF TUITION ON FINANCIALS 29,556,163. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | MEREDITH'S FULL NONDISCRIMINATION POLICY IS PRINTED IN COLLEGE PUBLICATIONS SUCH AS THE UNDERGRADUATE CATALOGUE WHICH IS DISTRIBUTED IN PRINT FORM AND ON THE COLLEGE'S WEBSITE. IN ADDITION, IT IS ALSO PUBLISHED IN UNDERGRADUATE AND GRADUATE RECRUITMENT MATERIALS. |
| SCHEDULE E, PART I, LINE 6 | IN FURTHERANCE OF ITS EDUCATIONAL MISSIONS, MEREDITH COLLEGE RECEIVES FUNDS IN SUPPORT OF ITS STUDENTS. FUNDS RECEIVED INCLUDE, BUT ARE NOT LIMITED TO: FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL WORK-STUDY PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL DIRECT STUDENT LOANS, TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANT, AND HIGHER EDUCATION EMERGENCY RELIEF FUNDS. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (2 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Specific Services ProvidedSpecificServicesProvidedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|---|
| EUROPE | 1 | 1 | PROGRAM SERVICES | STUDY ABROAD | $937,584 |
| CENTRAL AMERICA AND THE CARIBBEAN | INVESTMENTS | $19,653,158 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 1 | SubtotalOfficesCnt |
| Subtotal Employees | 1 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 1 | TotalOfficeCnt |
| Total Employee | 1 | TotalEmployeeCnt |
| Subtotal Spent | $20,590,742 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $20,590,742 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (1) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (1) | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 3: | EXPENDITURES ARE ACCOUNTED FOR ON THE ACCRUAL BASIS OF ACCOUNTING. |
| PART III ACCOUNTING METHOD: | |
| PART IV, LINE 3 | ALTHOUGH THE COLLEGE HAD AN OWNERSHIP IN CERTAIN FOREIGN CORPORATIONS (INVESTMENTS) DURING THE TAX YEAR, THE INVESTMENT AMOUNT WAS NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 5471. |
| PART IV, LINE 4 | MEREDITH COLLEGE IS AN INVESTOR IN ONE OR MORE PASSIVE FOREIGN INVESTMENT COMPANIES ("PFICS"). THEY RECEIVED NO TAXABLE DISTRIBUTIONS FROM ANY OF THE FUNDS DURING FISCAL YEAR 2023. FORM 8621 IS NOT REQUIRED DUE TO IRS GUIDANCE SET FORTH IN REG. SEC. 1.1291-1(E). |
| PART IV, LINE 5 | ALTHOUGH THE COLLEGE HAD AN OWNERSHIP IN CERTAIN FOREIGN PARTNERSHIPS (INVESTMENTS) DURING THE TAX YEAR, THE INVESTMENT AMOUNT WAS NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 8865. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | AUTISM GALA | Event1Nm |
| Gross Receipts Event1 | $136,279 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $113,863 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $22,416 | GrossRevenueEvent1Amt |
| Rent Facility Costs Event1 | $2,350 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $13,145 | FoodAndBeverageEvent1Amt |
| Entertainment Event1 | $2,749 | EntertainmentEvent1Amt |
| Other Direct Expenses Event1 | $8,592 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $136,279 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $113,863 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $22,416 | GrossRevenueTotalEventsAmt |
| Rent Fclty Costs Total Events | $2,350 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $13,145 | FoodAndBeverageTotalEventsAmt |
| Entertainment Total Events | $2,749 | EntertainmentTotalEventsAmt |
| Oth Direct Expnss Total Events | $8,592 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $26,836 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$4,420 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Cash GrantCashGrantAmt |
|---|---|---|---|---|---|
| INSTITUTIONAL GRANTS, FINANCIAL AID & SCHOLARSHIPS | 1364 | $29,556,163 | TUITION RATES | FINANCIAL AID AND SCHOLARSHIPS | |
| HIGHER EDUCATION EMERGENCY RELIEF FUNDS | 302 | $1,321,987 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | MEREDITH COLLEGE FINANCIAL ASSISTANCE OFFICE HAS SYSTEMS AND INTERNAL PROCEDURES IN PLACE THAT ENSURES THE PROPER DETERMINATION, DISBURSEMENT AND MONITORING OF GRANTS AND SCHOLARSHIPS. THESE SYSTEMS AND PROCEDURES COMPLY WITH THE FEDERAL STUDENT TITLE IV AID REGULATIONS, NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY RULES, AND INSTITUTIONAL POLICIES. FOR HEERF GRANTS UNDER THE CARES ACT, FOR ELIGIBLE STUDENTS, THE INDIVIDUAL GRANT AMOUNT RELATED TO THE DISRUPTION BECAUSE OF CORONAVIRUS WAS CALCULATED USING AN ALLOCATION BASED ON RATES FOR HOUSING AND/OR FOOD, PLUS CONSIDERATIONS FOR OTHER CARES ACT PRIORITIES (I.E., TECHNOLOGY, COURSE MATERIALS, HEALTH CARE, CHILD CARE), APPLIED OVER THE PERIOD OF TIME REMAINING IN THE SEMESTER AFTER THE CHANGE TO ONLINE INSTRUCTION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DR JO ALLEN | ||||||||||||||
| PRESIDENT | $358,972 | $0 | $0 | $0 | $6,096 | $0 | $33,250 | $0 | $9,305 | $0 | $407,623 | $0 | $0 | $0 |
| N JEAN JACKSON | ||||||||||||||
| VP COLLEGE PROGAMS | $187,282 | $0 | $5,000 | $0 | $6,096 | $0 | $9,581 | $0 | $6,529 | $0 | $214,488 | $0 | $0 | $0 |
| MATTHEW POSLUSNY | ||||||||||||||
| SENIOR VP & PROVOST | $191,338 | $0 | $5,000 | $0 | $2,064 | $0 | $10,399 | $0 | $5,679 | $0 | $214,480 | $0 | $0 | $0 |
| CHARLES BARTON | ||||||||||||||
| VP INST ADV | $186,505 | $0 | $5,000 | $0 | $8,703 | $0 | $9,463 | $0 | $956 | $0 | $210,627 | $0 | $0 | $0 |
| KIMBERLY BURKE | ||||||||||||||
| DEAN | $188,427 | $0 | $0 | $0 | $2,064 | $0 | $9,945 | $0 | $6,862 | $0 | $207,298 | $0 | $0 | $0 |
| TAMMI JACKSON | ||||||||||||||
| VP FOR BUS/FIN | $177,259 | $0 | $5,000 | $0 | $0 | $0 | $8,925 | $0 | $8,151 | $0 | $199,335 | $0 | $0 | $0 |
| JEFFREY HOWLETT | ||||||||||||||
| CIO | $154,786 | $0 | $0 | $0 | $664 | $0 | $8,367 | $0 | $6,803 | $0 | $170,620 | $0 | $0 | $0 |
| ELIZABETH WOLFINGER | ||||||||||||||
| DEAN | $149,911 | $0 | $0 | $0 | $1,677 | $0 | $7,496 | $0 | $882 | $0 | $159,966 | $0 | $0 | $0 |
| KRISTIE OGILVIE | ||||||||||||||
| DEAN/PROFESSOR | $154,777 | $0 | $0 | $0 | $286 | $0 | $3,750 | $0 | $471 | $0 | $159,284 | $0 | $0 | $0 |
| BING YU | ||||||||||||||
| PROFESSOR | $138,983 | $0 | $0 | $0 | $1,404 | $0 | $6,428 | $0 | $7,357 | $0 | $154,172 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | THE PRESIDENT IS PROVIDED WITH A RESIDENCE FOR PERSONAL USE AS WELL AS HOUSEKEEPING SERVICES FOR THE CONVENIENCE OF THE COLLEGE SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL SCHOOL BUSINESS AND ACTIVITIES AT THE HOME. THIS RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE IN HAVING THE FUNCTIONS OF THE OFFICE OF THE PRESIDENT EFFICIENTLY DISCHARGED AND AS A CONDITION OF EMPLOYMENT AS PRESIDENT OF THE COLLEGE. FOR THE BENEFIT AND CONVENIENCE OF THE COLLEGE, THE PRESIDENT'S RESIDENCE SHALL BE AVAILABLE, AND SHALL BE USED, FOR COLLEGE-RELATED BUSINESS AND ENTERTAINMENT ON A REGULAR AND CONTINUING BASIS. THE APPROXIMATE RENTAL VALUE OF THE HOME IS $3,500 PER MONTH. THESE ARE TREATED AS NONTAXABLE BENEFITS. |
| PART I, LINE 7 | BONUSES FOR THE EXECUTIVE TEAM WERE DETERMINED BY THE PRESIDENT AND SHARED WITH THE BOT BASED ON HOW MUCH EXTRA TIME THEY WORKED ON PANDEMIC EFFORTS AND RELATED ISSUES. ALL EMPLOYEES WHO WERE EMPLOYED THROUGH THE PANDEMIC RECEIVED A BONUS WITH THE AMOUNT DEPENDING ON WHETHER THEY WERE EMPLOYED ON A FULL OR PART TIME BASIS. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY | ||||||||
| A | 561592154 | 65818PLG2 | 2016-09-29 | $8,826,029 | SEE PART VI | 0 | 0 | 0 |
| NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY | ||||||||
| B | 561592154 | 65818PMH9 | 2018-03-29 | $40,960,158 | SEE PART VI | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|
| A | $950,000 | $8,926,117 | $176,521 | $8,749,596 | 2009 | 0 | Yes (1) | Yes (1) | Yes (1) |
| B | $6,470,000 | $41,026,605 | $596,792 | $40,429,813 | 2009 | Yes (1) | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Private Bus Use By OthersPrivateBusUseByOthersPct | Private Bus Concerning UBIPrivateBusConcerningUBIPct | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, SCHEDULE K, PART I, LINE A, COLUMN (F): | TO ADVANCE REFUND $7,800,000 IN AGGREGATE PRINCIPAL AMOUNT OF OUTSTANDING 2008A BONDS INITIALLY ISSUED ON APRIL 3, 2008 AND PAY RELATED ISSUANCE COSTS. |
| FORM 990, SCHEDULE K, PART I, LINE B, COLUMN (F): | TO CURRENTLY REFUND OUTSTANDING 2008A AND 2008B BONDS INITIALLY ISSUED ON APRIL 3, 2008 AND PAY RELATED ISSUANCE COSTS. |
| FORM 990, SCHEDULE K, PART II, COLUMNS A & B, LINE 3: | THE DIFFERENCE BETWEEN THE AMOUNTS ON LINE 3 AND THE ISSUE PRICES LISTED IN PART I, COLUMN E, IS DUE TO INVESTMENT EARNINGS ON BOND PROCEEDS PENDING DISBURSEMENT. |
| FORM 990, SCHEDULE K, PART II, COLUMN A, LINE 11: | $8,744,938 WAS APPLIED TO REDEEM OUTSTANDING 2008A BONDS. $4,658 WAS USED TO PAY INTEREST ON 2016 BONDS. |
| FORM 990, SCHEDULE K, PART II, COLUMN B, LINE 11: | $90,386 WAS USED TO PAY DEBT SERVICE ON 2018 BONDS. $40,339,427 WAS APPLIED TO REDEEM OUTSTANDING 2008A AND 2008B BONDS. |
| FORM 990, SCHEDULE K, PART IV, COLUMN B, LINE 2C: | THE REBATE COMPUTATION WAS PERFORMED AS OF MARCH 29, 2023 |
| FORM 990, SCHEDULE K, PART IV, COLUMN A, LINE 2C: | ALL OF THE BOND PROCEEDS WERE EXPENDED DURING THE FIRST CALCULATION PERIOD, AND NO ARBITRAGE REBATE WAS DUE. THERE ARE CURRENTLY NO EXISTING BOND PROCEEDS THAT REMAIN OUTSTANDING THAT ARE SUBJECT TO ARBITRAGE REBATE. |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 35 | ContributionCnt |
| Noncash Contributions Rpt F990 | $1,235,080 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (1) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 32B: | FormAndLineReferenceDesc |
| Explanation | IF THE COLLEGE RECEIVES A GIFT OF REAL ESTATE, AN AGENT IS SELECTED BY THE COLLEGE TO SELL THE PROPERTY. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS MADE UP OF 8 TO 10 MEMBERS. THE PURPOSE OF THE COMMITTEE IS TO SERVE AT THE PLEASURE OF THE BOARD AND HAVE AUTHORITY TO ACT FOR THE BOARD ON ALL MATTERS EXCEPT AS OTHERWISE PROVIDED BY LAW AND EXCEPT FOR THE FOLLOWING, WHICH SHALL BE RESERVED FOR THE BOARD: PRESIDENTIAL SELECTION AND TERMINATION, TRUSTEE AND BOARD OFFICER ELECTION, CHANGES IN INSTITUTIONAL MISSION AND PURPOSE, INCURRING CORPORATE INDEBTEDNESS, SALE OF COLLEGE ASSETS, ADOPTION OF ANNUAL BUDGET, AND CONFERRAL OF DEGREES OR TENURE. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BUSINESS AND FINANCE COMMITTEE WILL REVIEW AND APPROVE THE 990. FOR PRIVACY PURPOSES, THE FULL BOARD ONLY RECEIVES A PUBLIC DISCLOSURE COPY OF THE 990 FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. HOWEVER, THE FORM 990 IS AVAILABLE UPON REQUEST. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD AFFAIRS COMMITTEE MONITORS THE TRUSTEES' CONFLICT OF INTEREST POLICY INCLUDING DISTRIBUTING, COLLECTING, AND REVIEWING CONFLICT OF INTEREST FORMS ANNUALLY. IN ADDITION, THE CHAIR OF THE INVESTMENT COMMITTEE REVIEWS CONFLICT OF INTEREST FORMS FOR THE MEMBERS OF THAT COMMITTEE FOR ANY POTENTIAL CONFLICT SPECIFICALLY RELATED TO THEIR ROLE ON THAT COMMITTEE. IN THE EVENT OF A CONFLICT, THE INDIVIDUAL INVOLVED WOULD RECUSE THEMSELVES FROM ANY VOTE ON THE MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, AN INDEPENDENT BODY. THE COMMITTEE RELIES UPON DATA FROM COMPARABLE COLLEGES OBTAINED BY NCICU AND FROM FORMS 990 OF SIMILARLY SITUATED COLLEGES AND UNIVERSITIES. IN ADDITION, THE COMMITTEE ALSO CONSIDERS THE RESULTS OF THE PRESIDENT'S ANNUAL PERFORMANCE EVALUATION. THE DECISION IS DOCUMENTED IN THE MINUTES OF THE COMMITTEE. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS INDEPENDENTLY REVIEWED ON EVERY SALARY LEVEL. THE COLLEGE REVIEWS SALARY DATA FROM VARIOUS SOURCES, SUCH AS CUPA. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY AND THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XI, LINE 9: | CHANGE IN POSTRETIREMENT BENEFIT OBLIGATIONS 48,082. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COOPERATING RALEIGH COLLEGES | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 120 | AddressLine1Txt |
| City | RALEIGH | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27607 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237158371 | EIN |
| Primary Activities | SUPPORT MEMBER INSTITUTIONS | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 12A, I | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHARITABLE REMAINDER TRUST (4) | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | INVESTMENT | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Entity Type | T | EntityTypeTxt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |