2022-05-13T09:43:53-05:00 2021-06-30 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2020-07-01 200371529 THE UNIVERSITY OF MOUNT OLIVE FOUNDATION UNIV 9196582502 634 HENDERSON ST MOUNT OLIVE NC 283651263 KEN BUCHANAN VP - FINANCE 9196582502 2022-05-12 1 KEN BUCHANAN 999009999 YONG ZHANG CPA P01249785 7033366400 2022-05-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JASON GIPE 634 HENDERSON ST MOUNT OLIVE NC 283651263 193 0 X HTTP://WWW.UMO.EDU/SUPPORT-UMO X 2003 NC THE PURPOSE OF THIS NONPROFIT FOUNDATION IS TO FULFILL THE OBLIGATIONS OF THE FOUNDATION, PRIMARILY DEBT SERVICE. 18 16 0 16 0 0 0 0 716255 0 13146 193 0 0 729401 193 0 0 0 0 0 0 0 0 0 939098 923960 939098 923960 -209697 -923767 10550864 9330028 12886451 12589382 -2335587 -3259354 THE PURPOSE OF THIS NONPROFIT FOUNDATION IS TO SEEK ALTERNATIVE SOURCES OF SUPPORT TO STRENGTHEN THE UNIVERSITY OF MOUNT OLIVE'S OUTREACH TO STUDENTS AND THE COMMUNITY. 0 0 923960 0 HOLD CERTAIN REAL ESTATE USED BY THE UNIVERSITY OF MOUNT OLIVE INC IN CARRYING OUT ITS EXEMPT PURPOSE. 923960 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NC X JAY REBMAN 9196582502 634 HENDERSON ST MOUNT OLIVE NC 283651263 W ROBERT BIZZELL BOARD MEMBER 1.00 X X 0 0 0 I RAY MCDONALD JR CHAIRPERSON 1.00 X X 0 0 0 WILLIAM H BRYAN TREASURER 1.00 X X 0 0 0 GREY MORGAN BOARD MEMBER 1.00 X 0 0 0 WENDY CRUMPLER BOARD MEMBER 1.00 X 0 0 0 EARL WORLEY JR BOARD MEMBER 1.00 1.00 X 0 0 0 ROGER B DAVIS SR BOARD MEMBER 1.00 X 0 0 0 ED CROMARTIE BOARD MEMBER 1.00 X 0 0 0 TOWNSEND QUINN BOARD MEMBER 1.00 X 0 0 0 DEAN ROUSE VICE CHAIRPERSON 1.00 X 0 0 0 STEPHANIE KORNEGAY BOARD MEMBER 1.00 X 0 0 0 OLIVIA B HOLDING BOARD MEMBER 1.00 X 0 0 0 DR J WILLIAM BYRD BOARD MEMBER 1.00 X 0 0 0 JAMES E WILLIAMS BOARD MEMBER 1.00 X 0 0 0 BILLY KORNEGAY BOARD MEMBER 1.00 X 0 0 0 SCOTT WINSLOW BOARD MEMBER 1.00 X 0 0 0 H EDWARD CROOM BOARD MEMBER 1.00 50.00 X 0 173552 2204 JASON GIPE PRESIDENT 1.00 50.00 X X 0 136520 23832 JEREMY SHREVE ASST TREASURER 1.00 50.00 X 0 139450 27014 0 449522 53050 0 0 1 0 0 193 193 193 0 0 193 559243 559243 361518 361518 3199 3199 923960 923960 0 0 1066245 207185 3015 3015 15844530 6724702 9481346 9119828 258 0 10550864 9330028 130622 177088 12755829 12412294 12886451 12589382 X -2335587 -3259354 -2335587 -3259354 10550864 9330028 -923767 0 X X 0 1 X 1 0 X X 1 UNIVERSITY OF MT OLIVE 560623936 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1: THE FOUNDATION IS EFFECTIVELY MANAGED AND SUPERVISED BY ITS SUPPORTED ORGANIZATION, THE UNIVERSITY OF MOUNT OLIVE. THE FOUNDATION BYLAWS STATE THAT THE FOUNDATION BOARD WILL ALWAYS INCLUDE THE BOARD CHAIR OF THE UNIVERSITY, THE PRESIDENT OF THE UNIVERSITY, AND THE VP FOR ADVANCEMENT OF THE UNIVERSITY. THREE OF THE SIX FOUNDATION OFFICERS ARE UNIVERSITY EMPLOYEES. UNIVERSITY EMPLOYEES MANAGE/SUPERVISE THE DAILY ACTIVITIES OF THE ORGANIZATION. 14460720 5340892 9119828 1383810 1383810 0 9119828 X 193 0 193 0 193 923960 0 923960 0 923960 PART X, LINE 2: MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. 0 0 0 0 0 0 0 0 0 H EDWARD CROOM BOARD MEMBER 0 173552 0 0 0 0 0 0 0 2204 0 175756 0 0 JASON GIPE PRESIDENT 0 136520 0 0 0 0 0 0 0 23832 0 160352 0 0 JEREMY SHREVE ASST TREASURER 0 139450 0 0 0 0 0 7450 0 19564 0 166464 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE CONTROLLER, VP FINANCE, AND THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF THE FOUNDATION. THE FORM 990 IS LATER MADE AVAILABLE TO EACH MEMBER OF THE BOARD. THERE HAVE BEEN NO CHANGES TO THE REVIEW PROCESS SINCE THE PRECEDING YEAR. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY UNDERGOES CONSTANT REVIEW, AND ANY CONFLICTS ARE DISCLOSED. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DOES NOT PAY ANY COMPENSATION; THE ONLY PAID POSITIONS ARE FULL-TIME EMPLOYEES OF THE UNIVERSITY OF MOUNT OLIVE (UMO) AND ACCORDINGLY ARE PAID BY UMO. UMO HAS A PROCESS IN PLACE FOR DETERMINING SUCH COMPENSATION. THAT PROCESS STATES THE FOLLOWING: COMPENSATION FOR THE PRESIDENT, VP OF INSTITUTIONAL ADVANCEMENT, AND VP FINANCE AND ADMINISTRATION REQUIRE THE USE OF A COMPENSATION COMMITTEE, INDEPENDENT CONSULTANT, COMPENSATION SURVEY, OR BOARD/COMMITTEE APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE ARTICLES OF INCORPORATION AND ARTICLES OF AMENDMENT ARE LOCATED ON THE NC SECRETARY OF STATE WEBSITE. THE CURRENT CONFLICT OF INTEREST POLICY IS AVAILABLE ON THE INTERNAL FRESCO WEBSITE UNDER INSTITUTIONAL POLICIES AND PROCEDURES COLLECTION. FORM 990, PART XIII, LINE 2C THE REVIEW AND OVERSIGHT PROCESS HAS NOT CHANGED SINCE THE PRECEEDING YEAR. UNIVERSITY OF MOUNT OLIVE INC 634 HENDERSON STREET MOUNT OLIVE NC 28365 560623936 STUDENT EDUCATION AND RELATED SERVICES NC 501(C)(3) LINE 2 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0