AUBREY LEE BROOKS FOUNDATION: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
AUBREY LEE BROOKS FOUNDATION (EIN 56-6044358)
Tax period
2022-07-01 to 2023-06-30
Filed
2024-04-25
IRS object ID
202431169349302053
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 ReturnHeader

FieldValueIRS element (for citing)
Return2024-04-25T14:33:33-05:00ReturnTs
Tax Period End2023-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN273858252PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Dean Dorton Allen Ford PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14130 Parklake Ave STE 400AddressLine1Txt
CityRaleighCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27612ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN566044358EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Aubrey Lee Brooks FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlAUBRBusinessNameControlTxt
Phone9195498614PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13120 Poplarwood CourtAddressLine1Txt
CityRaleighCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27604ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonANDREA POOLEPersonNm
Person TitleExecutive DirectorPersonTitleTxt
Phone9192484642PhoneNum
Signature2024-04-25SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstANDREAPersonFirstNm
Person LastPOOLEPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMichelle FootePreparerPersonNm
PTINP01387279PTIN
Phone9198792909PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerAndrea PoolePrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13120 Poplarwood CourtAddressLine1Txt
CityRaleighCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27604ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$9,657,168GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressSEE STATEMENTWebsiteAddressTxt
Type Of Organization OtherYes (X)TypeOfOrganizationOtherInd
Other Organization DscFOUNDATIONOtherOrganizationDsc
Formation1955FormationYr
Legal Domicile StateNCLegalDomicileStateCd
Activity Or MissionPROVIDING SCHOLARSHIPS TO THREE NORTH CAROLINA UNIVERSITIESActivityOrMissionDesc
Voting Members Governing Body10VotingMembersGoverningBodyCnt
Voting Members Independent10VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$2,696,989PYInvestmentIncomeAmt
CY Investment Income$940,010CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$2,696,989PYTotalRevenueAmt
CY Total Revenue$940,010CYTotalRevenueAmt
PY Grants And Similar Paid$784,679PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$707,008CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$392,597PYOtherExpensesAmt
CY Other Expenses$158,271CYOtherExpensesAmt
PY Total Expenses$1,177,276PYTotalExpensesAmt
CY Total Expenses$865,279CYTotalExpensesAmt
PY Revenues Less Expenses$1,519,713PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$74,731CYRevenuesLessExpensesAmt
Total Assets BOY$32,037,449TotalAssetsBOYAmt
Total Assets EOY$34,185,136TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$32,037,449NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$34,185,136NetAssetsOrFundBalancesEOYAmt
MissionTO PROMOTE THE EDUCATION OF DESERVING YOUTH FROM A 14-COUNTY AREA OF NORTH CAROLINA BY PROVIDING SCHOLARSHIPS AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL, NORTH CAROLINA STATE UNIVERSITY IN RALEIGH, OR THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$707,008ExpenseAmt
Grant$707,008GrantAmt
DescPROVIDED 62 STUDENTS WITH SCHOLARSHIP FUNDS THROUGH THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL, NORTH CAROLINA STATE UNIVERSITY IN RALEIGH, AND THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO.Desc
Total Program Service Expenses$707,008TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi EndowmentsYes (1)DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members10GoverningBodyVotingMembersCnt
Independent Voting Member10IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing Body0MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing AddressYes (1)OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Andrea PooleBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9192484672PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13120 Poplarwood CourtAddressLine1Txt
CityRaleighCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27604ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtInstitutional TrusteeInstitutionalTrusteeIndOfficerOfficerInd
SHERRILL M LYBROOK
TRUSTEE0.00Yes (X)$0$0$0
HELEN E BROOKS
TRUSTEE0.00Yes (X)$0$0$0
PHYLLIS BROOKS
TRUSTEE0.00Yes (X)$0$0$0
JAMES TAYLOR BROOKS JR
TRUSTEE0.00Yes (X)$0$0$0
KEVIN GUSKIEWICZ
TRUSTEE0.00$0$0$0Yes (X)
MEREDITH R MCCULLEN
TRUSTEE0.00$0$0$0Yes (X)
JENNIFER HAYGOOD
TRUSTEE0.00$0$0$0Yes (X)
WILLIAM R WOODSON
TRUSTEE0.00$0$0$0Yes (X)
FRANKLIN D GILLIAM JR
TRUSTEE0.00$0$0$0Yes (X)
PETER HANS
TRUSTEE0.00$0$0$0Yes (X)
ANDREA POOLE
SECRETARY & DIRECTOR0.00$0$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$884,256TotalRevenueColumnAmt
Exclusion$884,256ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$8,772,912SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$8,717,158SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$55,754SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$55,754TotalRevenueColumnAmt
Exclusion$55,754ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$940,010TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$940,010ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$707,008TotalAmt
Program Services$707,008ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$2,000TotalAmt
Management And General$2,000ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$152,464TotalAmt
Management And General$152,464ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$3,807TotalAmt
Management And General$3,807ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$865,279TotalAmt
Program Services$707,008ProgramServicesAmt
Management And General$158,271ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$290,480BOYAmt
EOY$352,645EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$31,743,502BOYAmt
EOY$33,830,043EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$3,467BOYAmt
EOY$2,448EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$32,037,449BOYAmt
EOY$34,185,136EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$32,037,449BOYAmt
EOY$34,185,136EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$32,037,449BOYAmt
EOY$34,185,136EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$32,037,449BOYAmt
EOY$34,185,136EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$74,731ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$2,072,956NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewYes (1)AccountantCompileOrReviewInd

Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
FS Audited0FSAuditedInd
Audit Committee0AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type1Yes (X)SupportingOrgType1Ind
Supported Organizations3SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp (3 entries)

EINEINOrganization TypeOrganizationTypeCdGoverning Document ListedGoverningDocumentListedIndSupportSupportAmtOther SupportOtherSupportAmt
NC STATE UNIVERSITY
5660007562Yes (1)$237,673$0
UNC-CHAPEL HILL
5660013932Yes (1)$341,124$0
UNC-GREENSBORO
5660014682Yes (1)$128,211$0
FieldValueIRS element (for citing)
Supported Organizations Total3SupportedOrganizationsTotalCnt
Support Sum$707,008SupportSumAmt
Other Support Sum$0OtherSupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (1)ListedByNameGoverningDocInd
Suprt Org No IRS Determination0SuprtOrgNoIRSDeterminationInd
Supported Org Section C4560SupportedOrgSectionC456Ind
Supported Org Not Organized US0SupportedOrgNotOrganizedUSInd
Organization Change Suprt Org0OrganizationChangeSuprtOrgInd
Support Non Supported Org0SupportNonSupportedOrgInd
Payment Substantial Contribtr0PaymentSubstantialContribtrInd
Loan Disqualified Person0LoanDisqualifiedPersonInd
Controlled Disqualified Prsn0ControlledDisqualifiedPrsnInd
Disqualified Prsn Controll Int0DisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr Int0DisqualifiedPrsnOwnrIntInd
Excess Business Holdings Rules0ExcessBusinessHoldingsRulesInd
Contribution Controller0ContributionControllerInd
Contribution Family0ContributionFamilyInd
Contribution35 Controlled0Contribution35ControlledInd

Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp

FieldValueIRS element (for citing)
Power Appoint Majority Dir TrstYes (1)PowerAppointMajorityDirTrstInd
Operate Benefit Non Suprt Org0OperateBenefitNonSuprtOrgInd

Schedule D IRS990ScheduleD

CY Endwmt Fund CYEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$32,037,449BeginningYearBalanceAmt
Investment Earnings Or Losses$3,012,966InvestmentEarningsOrLossesAmt
Grants Or Scholarships$707,008GrantsOrScholarshipsAmt
Other Expenditures$5,807OtherExpendituresAmt
Administrative Expenses$152,464AdministrativeExpensesAmt
End Year Balance$34,185,136EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$37,880,958BeginningYearBalanceAmt
Investment Earnings Or Losses-$4,666,234InvestmentEarningsOrLossesAmt
Grants Or Scholarships$784,679GrantsOrScholarshipsAmt
Other Expenditures$3,087OtherExpendituresAmt
Administrative Expenses$389,509AdministrativeExpensesAmt
End Year Balance$32,037,449EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$30,338,718BeginningYearBalanceAmt
Investment Earnings Or Losses$8,688,836InvestmentEarningsOrLossesAmt
Grants Or Scholarships$805,092GrantsOrScholarshipsAmt
Other Expenditures$4,624OtherExpendituresAmt
Administrative Expenses$336,880AdministrativeExpensesAmt
End Year Balance$37,880,958EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$30,656,542BeginningYearBalanceAmt
Investment Earnings Or Losses$685,826InvestmentEarningsOrLossesAmt
Grants Or Scholarships$850,719GrantsOrScholarshipsAmt
Other Expenditures$7,520OtherExpendituresAmt
Administrative Expenses$145,411AdministrativeExpensesAmt
End Year Balance$30,338,718EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$29,968,471BeginningYearBalanceAmt
Investment Earnings Or Losses$1,828,665InvestmentEarningsOrLossesAmt
Grants Or Scholarships$962,665GrantsOrScholarshipsAmt
Other Expenditures$5,815OtherExpendituresAmt
Administrative Expenses$172,114AdministrativeExpensesAmt
End Year Balance$30,656,542EndYearBalanceAmt
FieldValueIRS element (for citing)
Prmnnt Endowment Balance EOY0.02867PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY0.97133TermEndowmentBalanceEOYPct
Endowments Held Unrelated OrgYes (1)EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org0EndowmentsHeldRelatedOrgInd
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceFORM 990, SCHEDULE D, PART V, LINE 4FormAndLineReferenceDesc
ExplanationTHE FOUNDATION'S ENDOWMENT FUND IS THE SOLE MEANS OF REVENUE OF THE FOUNDATION. IT IS INTENDED TO GENERATE ENOUGH INCOME TO SUPPORT THE OPERATIONS OF THE FOUNDATION EACH YEAR, AND ALSO TO PROVIDE GROWTH TO OFFSET FUTURE INFLATION.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (3 entries)

Grant TypeGrantTypeTxtRecipientRecipientCntCash GrantCashGrantAmt
SCHOLARSHIPS TO THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL31$341,124
SCHOLARSHIPS TO NORTH CAROLINA STATE UNIVERSITY21$237,673
SCHOLARSHIPS TO THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO10$128,211

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart I, Line 2:FormAndLineReferenceDesc
ExplanationCOUNTY COMMITTEES CHOOSE SCHOLARSHIP RECIPIENTS BASED ON FINANCIAL NEED, MERIT, LEADERSHIP, CHARACTER, AND THE WILL OF THE RECIPIENT TO HELP HIMSELF OR HERSELF PREPARE FOR A CAREER AS A USEFUL AND INFORMED CITIZEN. THESE COMMITTEES ARE OVERSEEN BY A CENTRAL COMMITTEE COMPOSED OF SCHOLARSHIP, FINANCIAL AND ENROLLMENT SPECIALISTS FROM THE THREE UNIVERSITIES. TUITION PAYMENTS ARE DISBURSED DIRECTLY TO THE UNIVERSITIES. EACH UNIVERSITY MONITORS THEIR SCHOLARSHIP RECIPIENTS FOR CONTINUING ELIGIBILITY IN TERMS OF FINANCIAL NEED, FULL-TIME ENROLLMENT, AN ACCEPTABLE CUMULATIVE GRADE POINT AVERAGE, AND GOOD CITIZENSHIP. SCHOLARSHIP PAYMENTS FOR A ONE-TIME COMPUTER ALLOWANCE AND FOR SUMMER INTERNSHIPS, RESEARCH OR STUDY ABROAD ARE MONITORED BY THE NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY THROUGH EXAMINATION OF RECEIPTS, TIME SHEETS SIGNED BY THE EMPLOYER, PROGRAM COSTS AND BUDGETS PUBLISHED BY THE SPONSORING SCHOOL, AND OTHER EVIDENCIARY MATERIAL.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Section A, line 2FOUR MEMBERS OF THE BOARD OF TRUSTEES ARE RELATED TO THE ORIGINAL DONOR WHO CREATED THE FOUNDATION.
Form 990, Part VI, Section A, line 8aTHE BOARD OF TRUSTEES OF THE FOUNDATION DID NOT MEET DURING THE YEAR ENDED JUNE 30, 2023.
Form 990, Part VI, Section B, line 11bFORM 990 IS DISTRIBUTED TO EACH BOARD MEMBER UPON FILING WITH THE INTERNAL REVENUE SERVICE.
Form 990, Part VI, Section B, line 12cALL TRUSTEES OF THE FOUNDATION ARE REMINDED ANNUALLY THAT THEY MUST DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO A CONFLICT OF INTEREST TO THE BOARD.
Form 990, Part VI, Section C, line 19THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND FORM 990 FOR THE PAST THREE YEARS ARE AVAILABLE UPON REQUEST AT THE OFFICES OF THE NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY WHICH PROVIDES CENTRAL ADMINISTRATION FOR THE FOUNDATION.
FORM 990, PART 1, LINE JALTHOUGH THE FOUNDATION DOES NOT MAINTAIN ITS OWN WEBSITE, INFORMATION ABOUT THE SCHOLARSHIPS OFFERED BY THE FOUNDATION CAN BE FOUND AT THE FOLLOWING WEB ADDRESS: www.ncseaa.edu/brooks.htm

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