2022-10-25T10:27:06-05:00 2021-12-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 60606 990 2021-01-01 853563370 New Hanover Community Endowment Inc NEWH 3362072472 PO Box 4730 Wilmington NC 284061730 Spence Broadhurst Board Chair/President 3362072472 2022-10-21 1 Spence Broadhurst 999009999 Rebekuh Eley P01247672 3126343400 2022-10-21 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z Spence Broadhurst PO Box 4730 Wilmington NC 284061730 2333725686 0 X nhcendowment.org X 2020 NC To improve the health, education, safety and economic opportunity of every person in our community. 13 13 0 13 0 0 0 1296033526 0 0 0 19555760 0 0 0 1315589286 0 0 0 0 0 232370 0 0 0 0 486526 0 718896 0 1314870390 92968 1315756843 100000 0 -7032 1315756843 To improve the health, education, safety, and economic opportunity of every person in our community. 0 0 0 0 0 Providing financial support to benefit the residents of New Hanover County and region. New Hanover Community Endowment, Inc. focuses on (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety in furtherance of the mission and initiatives of New Hanover County. 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X Spence Broadhurst President 3362072472 PO Box 4730 Wilmington NC 284061730 X Spence Broadhurst Board Chair/President 12.00 X X 0 0 0 Hannah Gage Vice Chair/Secretary 12.00 X X 0 0 0 Virginia Adams Director 12.00 X 0 0 0 Chris Boney Director 12.00 X 0 0 0 Bill Cameron Director 12.00 X 0 0 0 Cedric Dickerson Director 12.00 X 0 0 0 Michele Holbrook Director 12.00 X 0 0 0 Pat Maguire Director 12.00 X 0 0 0 Khadijia Tribie Reid Director 12.00 X 0 0 0 Edel Segovia Director 12.00 X 0 0 0 David Sprunt Director 12.00 X 0 0 0 Stedman Stevens Director 12.00 X 0 0 0 Shannon Winslow Director 12.00 X 0 0 0 0 0 0 0 0 0 0 Karl Stauber 147 Virginia Avenue Danville VA 24541 Consulting Services 168750 Boardwalk Consulting LLC 2870 Peachtree Road NW 920 Atlanta GA 30305 Consulting Services 135000 2 1296033526 1296033526 5991001 5991001 1031701159 1018136400 13564759 13564759 13564759 1315589286 0 0 19555760 X 231332 231332 1038 1038 50979 50979 19000 19000 36088 36088 200900 200900 9159 9159 68500 68500 9764 9764 15118 15118 22762 22762 54256 54256 718896 0 718896 0 X 92968 121951 0 265576140 0 1050058752 92968 1315756843 100000 0 100000 0 X -7032 1315756843 -7032 1315756843 92968 1315756843 1314870390 893485 0 X 0 1 X 1 0 X 1296033526 1296033526 1296033526 1296033526 1296033526 5991001 5991001 1302024527 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 92968 1296033526 20413157 782808 1315756843 100000 7032 92968 1.00000 0 0 0 X 1316446683 893485 893485 1315553198 36088 36088 1315589286 682808 0 682808 36088 36088 718896 Part V, Line 4: The endowment funds are used to help provide financial support to (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety missions and initiatives in New Hanover County. Part X, Line 2: The Endowment is exempt from federal income taxes under Section 501(c)(3) of the U.S. Internal Revenue Code and is classified as a public charity. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. Management evaluated the tax positions of the Endowment and concluded that the Endowment had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of the Income Taxes Topic of the FASB ASC. Form 990, Part VI, Section A, line 4 During 2021, the Bylaws were amended for the following items: Each committee of the board must have two or more directors as members. In proposing committee members for approval by the Board, the Chair shall consider opportunities to help Board members to develop expertise and the breadth of knowledge to understand the complexity of the organization's governance. Each committee member shall serve at the pleasure of the board of directors. Members of special committees shall serve for the duration of the committee. All standing committee members shall be elected annually. A director may serve on more than one standing committee at a time, but no director shall serve on any one committee for more than six (6) consecutive full terms without a break in service of at least one (1) year. Terms shall begin on a January 1 and shall end on a December 31. Despite the expiration of a standing committee member's term, the standing committee member shall continue to serve until their successor is elected. Vacancies in standing committees shall be filled by individuals nominated by the Chairman of the Board and elected by the board of directors. Vacancies created by expiring terms shall be filled at the annual meeting of the board of directors. The chair of each standing committee shall be nominated by the Board Chair and approved by the Board, serving for a one-year term. The chair of a standing committee shall be eligible for re-election; provided, that no standing committee chair shall serve more than two (2) consecutive full terms. Each standing committee shall have a vice chair who shall fulfill the duties of the chair of the committee in the absence or disability of the chair of the committee. The vice chair of the committee shall be selected by the committee from among its members. Conflicts between or among recommendations of standing committees shall be resolved by action of the board of directors. Form 990, Part VI, Section B, line 11b A copy of the Form 990 is distributed, reviewed, and approved internally before it is filed with the IRS. Form 990, Part VI, Section B, line 12c Each Director, Officer, and Key Employee shall, upon commencement of his or her employment or term of office, and annually thereafter, sign a statement acknowledging and complying with this Policy. Form 990, Part VI, Section C, line 19 These documents are available upon request for the same period of disclosure as set forth in the IRC Section 6104(d). Form 990, Part IX, line 11g Consultant Fees: Program service expenses 0. Management and general expenses 200,900. Fundraising expenses 0. Total expenses 200,900. Form 990, Part X, Line 28, Net Assets With Donor Restrictions: After the audited financial statements went final, it was brought to the attention of management that all the Endowment's net assets are considered a permanently restricted endowment fund. The Form 990 reflects the restricted endowment which differs from the current year audit report. Management decided to not re-issue the audited financial statements for the year.