2023-01-18T15:20:33-06:00 2022-06-30 562271237 THOMAS & GIBBS CPA'S PLLC 6114 FAYETTEVILLE RD DURHAM NC 27713 990 2021-07-01 566075899 The North Carolina A&T Real Estate Foundation Inc NORT 3364335560 PO Box 20366 Greensboro NC 27420 Kimberly Cameron Executive Director 3364335560 2023-01-18 1 Kimberly Cameron 999009999 Kenneth D Gibbs P00238164 9195440555 2023-01-18 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z Kimberly Cameron PO Box 20366 Greensboro NC 27420 33456672 0 X N/A X 1946 NC TO PROVIDE SCHOLARSHIPS AND INSTITUTIONAL SUPPORT TO NORTH CAROLINA A&T STATE UNIVERSITY STUDENTS, FACULTY, AND DEPARTMENTS, AS WELL AS TO SUPPORT INSTITUTIONAL REAL ESTATE ACTIVITY. 11 10 0 0 612 0 9818421 9621045 14899773 22426599 447110 374312 669948 599817 25835252 33021773 3094910 2947772 0 0 2949595 3630559 0 0 0 15551538 19271561 21596043 25849892 4239209 7171881 167097116 169150909 122641388 116678442 44455728 52472467 X The mission of The North Carolina A&T Real Estate Foundation, Inc. is to support North Carolina A&T State University's quality environment of exemplary teaching and learning, scholarly and creative research, and effective community engagement and public service through the acquisition, ownership, transfer, development, and management of real estate or real estate-related projects.This mission is accomplished by, among other things:1. Cultivating and managing gifts of real estate on behalf of North Carolina A&T State University and its associated entities2. Acquiring strategic real estate in support of the Strategic Plan and Master Capital Plan of North Carolina A&T State University3. Selling, leasing, developing, or transferring real estate for the sole benefit of North Carolina A&T State University and its associated entities; and4. Managing a portfolio of real estate to provide a consistent revenue stream in support of North Carolina A&T State University and its association 0 0 5765855 2597772 1636704 The Foundation provides direct support to NCA&T State University departments by the management of fund accounts that include restricted, unrestricted, scholarships, endowments and grants. The Foundation managed five newly awarded grants that totaled $2,842,000 that were awarded from the following corporations and organizations: Charles & Lynn Schuster Family Foundation, the National MANRRS Office, the NC Pork Council, JPMorgan Chase Bank, N.A., and Toyota Motor Company. These grants provided scholarships for aspiring Black educators, a grant to establish an assistantship program, a grant to support education and living expenses of graduate students, a grant to support financial literacy and TRIO programs, and a grant to prepare business leaders who are equipped, motivated, and challenged to compete in a global market within the following colleges and department: College of Education, College of Agriculture and Animal Sciences, our University's Department of Academic Affairs, and the College of Business and Economics. As a resource to the University, the Foundation directly awarded scholarships in the amount of $343,790.78. The Foundation also awarded $1,991,501.35 from department scholarship funds and $17,840 from the Thurgood Marshall Fund for emergency funds to students impacted by COVID-19. The Event Center plays a pivotal role in the expansion of the University. The management of the Event Center positively supports efforts by the University in recruitment, faculty development, community engagement and marketing the University to a multitude of constituencies. This was the first year the University operated under normal conditions since COVID. The Event Center managed the COVID Vaccination Clinics in partnership with the University's Student Health Center and Moses Cone Health System. The Event Center also hosted an additional 25 University department held events. The Foundation's mission is centered on expanding the footprint of our University in its alignment with the University's Master Plan that includes economic development and revitalization of the East Greensboro area surrounding North Carolina A&T State University's college campus. The Foundation expanded its team with the hiring of the Director of Real Estate. Moreover, the Foundation's staff has undergone training on New Market Tax Credits to underpin its economic development endeavors. The Foundation continues to work in partnership with its East Greensboro Renaissance Community Advisory Committee whose focus is in the revitalization of the community surrounding the University spearheading strategic economic development projects in the next several years. The Foundation acquired a major property in its economic development efforts. The foundation acquired and renovated a warehouse to provide storage for its University's partners. The Foundation successfully executed the PSA to acquire two additional apartment complexes that will add an additional 350 beds to its current inventory. The Foundation is also on track with acquiring properties to facilitate in the University 's construction plans of a new 425+ bed residential life facility with retail space. 16840043 350000 20789895 The Foundation provides facilities for a five star child development laboratory for academic preparation and teaching. 16840043 350000 20789895 22605898 1 1 0 0 0 0 0 0 1 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 103 0 0 1 1 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 1 0 NC X Kimberly Cameron 3364335560 PO Box 20366 Greensboro NC 27420 Darrell Perry Director 0.50 X 0 0 0 Torian R Priestly Chair 0.50 X X 0 0 0 Adrienne Bain Director 0.50 X 0 0 0 Harold Cogdell Esq Director 0.50 X 0 0 0 Harold Martin Director 0.05 45.00 X 0 393224 87736 Walker Sanders Director 0.50 X 0 0 0 Russ Parmele Vice Chair 0.50 X X 0 0 0 Clifford Maske Director 0.50 X 0 0 0 Jennifer Duru-Perry Secretary 0.50 X X 0 0 0 Napoleon Wallace Director 0.50 X 0 0 0 Daniel Lim Treasurer 0.50 X X 0 0 0 Kim Cameron Executive Director 45.00 X 0 158875 50840 Jacqueline Stringfellow Director of Accounting 45.00 X 0 97709 31267 0 649808 169843 0 0 1 0 0 9621045 9621045 Rental Income 531110 22426599 22426599 22426599 66099 66099 435511 434899 612 612 612 308213 0 308213 308213 308213 Other Income 531110 599205 599205 599205 33021773 23025804 612 374312 X 2947772 2947772 2865607 2069441 796166 596250 361700 234550 168702 118664 50038 2747171 2008559 738612 250094 247250 2844 5159917 5022618 137299 244089 238633 5456 4769160 4607102 162058 2972745 2820290 152455 703039 7324 695715 Academic and department 836262 826936 9326 Supplies & equipment 731224 678412 52812 Miscellaneous Expense 711959 505296 206663 Bad Debt 145901 145901 25849892 22605898 3243994 0 18542451 21362365 1552554 3400086 1032556 1403488 131401632 22949078 102902289 108452554 24712913 19154547 4413514 654323 13940839 14723546 167097116 169150909 3118456 2511965 110268508 107413600 1766319 2116190 7253137 4401719 150000 150000 84968 84968 122641388 116678442 X 16104698 19276175 28351030 33196292 44455728 52472467 167097116 169150909 7171881 -485167 1330025 0 X 0 0 0 X 3647868 3149404 5010064 9818421 9621045 31246802 3647868 3149404 5010064 9818421 9621045 31246802 3185697 28061105 66099 66099 406402 618599 596817 826300 599817 3047935 34360836 0.81670 0.79860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1766319 1349324 999453 2116190 1 X 7095161 89389 -14901 311977 6857672 5636730 69209 1859315 470093 7095161 6075849 62891 175625 677635 5636730 6083147 90282 381077 478657 6075849 5808402 72805 540357 338417 6083147 0.96500 0.03500 0 1 1 11125888 11125888 107193465 19818146 87375319 8990722 1395769 7594953 1385844 984232 401612 2705713 750931 1954782 108452554 LT Investments 7234012 F ST Investments 11920535 F 19154547 Restricted Cash 14307978 Cash surrender/life insurance 19788 Other assets 395780 14723546 Interest Rate Swap agreement 84968 84968 X 32536610 -485167 -485167 33021777 -4 -4 33021773 25849893 1 1 25849892 0 25849892 Part IV, Line 2b: Funds held for others Part V, Line 4: To provide academic support services and scholarships for students. Part X, Line 2: For the year ended June 30, 2022, the Foundation has considered recognition requirements for uncertain tax positions as required by generally accepted accounting principles. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Foundation has analyzed tax positions taken for filing with the Internal Revenue Service and all applicable state jurisdictions. The Foundation believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the Foundation's financial position. Part XI, Line 4b - Other Adjustments: Rounding Part XII, Line 2d - Other Adjustments: Rounding 1 1 Scholarship & awards 2597772 Part I, Line 2: Scholarships and assistance are awarded from departmental funds that are held by the foundation. Each Scholarship has an agreement which detail the criteria. The departments and/or scholarship committee select the scholarship recipients. Some of the criterias used are the GPA, demonstrated need for financial assistance, communtiy involvement and their enrollment status at the university. This list and the amount awarded is remitted to the University's Financial Aid office. Subsequently, the Financial aid office remits the award form to the foundation upon which the purchase order is prepared and a check is made payable to the university to post the scolarship to the student's account. X 0 0 0 0 0 0 0 0 0 Harold Martin Director 0 393224 0 0 0 0 0 0 0 87736 0 480960 0 0 Kim Cameron Executive Director 0 158875 0 0 0 0 0 0 0 50840 0 209715 0 0 Part I, Line 3 A search committee of the Board of Directors aligned with the State of NC-UNC HR process used in hiring EHRA positions is adhered to by the Board of Directors. A NC Capital Facilities 561592154 2015-10-01 22495000 To refund student revenue bond 0 0 0 B NC Capital Facilities 561592154 2004-07-01 21000000 To construct student housing 0 0 0 C Public Finance Authority 2019-06-25 26020000 Refunding existing indebtednes 0 0 0 D Public Finance Authority 2019-12-18 47795000 Acquistion apartment facilitie 0 0 0 A 24245853 2114311 21249100 485859 396588 2015 1 0 0 0 B 21500000 1270400 373739 215943 17911704 1278214 2004 0 0 0 1 C 28471501 2569947 656197 25719996 2019 0 0 0 1 D 47795000 6316974 842651 74253701 2020 0 0 1 1 A 0 0 0 0 0.01000 0.01000 0 0 0 B 0 0 0 0 0.01000 0.01000 0 0 0 C 0 0 0 0 0.01000 0.01000 0 0 0 D 0 0 0 0 1.00000 1.00000 0 0 0 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 0 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 Form 990, Part VI, Section B, line 11b The Board Treasurer will review the completed Form 990 on behalf of the Board of Directors. When satisfied the Board Treasurer will sign. Form 990, Part VI, Line 12c - Explanation of Monitoring and Enforcement of Annually the Conflict of Interest policy is presented to the Board of Directors and are requested to identify any conflicts of interest per our policy and sign the document. Employees sign a conflict of interest policy at the inception of employment. Form 990, Part VI, Section B, line 12c Annually the Conflict of Interest policy is presented to the Board of Directors and are requested to identify any conflicts of interest per our policy and sign the document. Employees sign a conflict of interest policy at the inception of employment. Form 990, Part VI, Section B, line 15b A Search Committee of the Board of Directors aligned with the State of NC - UNC HR process in hiring EHRA positions is adhered to by the Board of Directors. Form 990, Part VI, Section C, line 19 Available upon written request. Form 990, Part IX, line 11g Professional Fees: Program service expenses 144,930. Management and general expenses 228,490. Fundraising expenses 0. Total expenses 373,420. Taxes & Fees: Program service expenses 280,538. Management and general expenses 3,793. Fundraising expenses 0. Total expenses 284,331. Other Contract Services: Program service expenses 1,583,091. Management and general expenses 506,329. Fundraising expenses 0. Total expenses 2,089,420. THE NC A&T UNIVERSITY FOUNDATION LLC 200 N BENBOW RD Greensboro NC 27411 562222757 Manage student housing for use by the University NC 5249655 27010609 The North Carolina A&T Real Estate Foundation Inc The NC A&T Real Estate Foundation LLC 200 N BENBOW ROAD GREENSBORO NC 27411 Acquire, maintain and manage student housing NC 9880082 79954021 The North Carolina A&T Real Estate Foundation Inc The NC A&T Investment Foundation Inc 1601 E Market Street Greensboro NC 27401 823043129 Sole Purpose of providing investment management NC 10653327 36345941 The North Carolina A&T Real Estate Foundation Inc Alumni Association 200 N Benbow Road Greensboro NC 27411 Alumni Relations NC 501 (c) (3) 0 NC A&T State University 1601 E Market St Greensboro NC 27401 Public University NC n/a 0 The Aggie Athletic Foundation 1601 E Market St Greensboro NC 27411 274444729 Provide support for NC A&T Athletics NC 501 (c) (3) 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 NC A&T State University Q 1757795 NC A&T State University P 1346972 NC A&T State University L 501725