2021-04-02T08:02:55-05:00 2020-06-30 570381582 ELLIOTT DAVIS LLCPLLC 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 990 2019-07-01 237099379 APPALACHIAN STATE UNIVERSITY FOUNDATION INC APPA 8282622341 ASU BOX 32064 MCKINNEY ALUMNI CTR BOONE NC 286082064 JANE BARGHOTHI PRESIDENT 8282622341 2021-03-30 1 DENISE P HILL P00046615 8032560002 2021-03-30 2019 2022-09-23 18:48:47Z JANE BARGHOTHI ASU BOX 32064 MCKINNEY ALUMNI CTR BOONE NC 286082064 29640971 0 X HTTP://GIVE.APPSTATE.EDU/FOUNDATION/ X 1970 NC THROUGH IMPACTFUL AND ENGAGED STEWARDSHIP, FUNDRAISING, FINANCIAL MANAGEMENT, AND THOUGHTFUL BOARD LEADERSHIP, THE APPALACHIAN STATE UNIVERSITY FOUNDATION WILL PROVIDE SIGNIFICANT RESOURCES IN SUPPORT OF THE UNIVERSITY'S MISSION AND KEY PRIORITIES. 20 17 0 20 2754 0 18630299 19505040 248789 613234 -1358252 -1820165 80753 105995 17601589 18404104 13778266 14624147 0 0 0 0 0 0 1511212 2313178 2955284 16091444 17579431 1510145 824673 163259259 159413962 7498743 10516985 155760516 148896977 X THE APPALACHIAN STATE UNIVERSITY FOUNDATION EXISTS TO SUPPORT APPALACHIAN STATE UNIVERSITY STUDENTS, FACULTY, STAFF AND COMMUNITY THROUGH THE ADVANCEMENT OF FINANCIAL SUPPORT, STEWARDSHIP, GROWTH OF RESOURCES, AND ADVOCACY FOR THE UNIVERSITY'S MISSION. 0 0 6449072 6449072 2323 SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY TO SUPPORT ACADEMIC OPERATING BUDGETS, FACULTY AND STAFF SALARIES/SUPPLEMENTS AND OTHER EVENTS, AND IN-KIND DONATIONS. 3742854 3742854 1923 SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY FOR SCHOLARSHIPS. 4425622 4425622 348349 PROGRAM AND SCHOLARSHIP SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY ATHLETICS. 6600 6600 GENERAL SUPPORT PROVIDED TO APPALACHIAN REAL ESTATE HOLDINGS INC 779609 293448 ADDITIONAL SUPPORT TO APPALACHIAN STATE UNIVERSITY 786209 6600 293448 15403757 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 36 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 20 17 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AK CO CA MA MD ME MI MN NH NJ NV NY OH OR SC UT WA X CLAYTON CHRISTIAN 8282622341 ASU BOX 32064 MCKINNEY ALUMNI CTR BOONE NC 28608 SHERI EVERTS BOARD MEMBER 1.00 39.00 X 0 374560 0 RANDY EDWARDS PRESIDENT (THRU 6/30/20) 30.00 10.00 X 0 241881 54326 PAUL FORTE BOARD MEMBER 1.00 39.00 X 0 238323 54356 LAURA CRANDALL CFO (THRU 9/25/19) 30.00 10.00 X 0 123333 4668 JANE BARGHOTHI PRESIDENT (AS OF 6/30/20) 30.00 10.00 X X 0 101165 22840 CLAYTON CHRISTIAN ASSISTANT VICE CHANCELLOR 30.00 10.00 X 0 94372 24715 KAREN MAIN DIRECTOR OF FOUNDATION ACCOUNTING 30.00 10.00 X 0 88524 23388 GEOFF GRAHAM ASSISTANT VICE CHANCELLOR OF GIFT PLANNING/ REAL E 30.00 10.00 X 0 102356 4678 DAVID LANCE INTERIM CFO 30.00 10.00 X 0 46777 7454 JEANNINE UNDERWOOD COLLINS BOARD SECRETARY 3.00 X X 0 0 0 FAIRLEY BELL COOK BOARD CHAIR 3.00 X X 0 0 0 PHILLIP OSTWALT BOARD TREASURER 3.00 X X 0 0 0 KIMBERLY SHEPHERD BOARD VICE CHAIR 3.00 X X 0 0 0 STEPHANIE LINEBERRY BILLINGS BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 KATHRYN BLANCHARD BOARD MEMBER (THRU 3/31/19) 3.00 X 0 0 0 TED CHANDLER JR BOARD MEMBER (THRU 3/31/19) 3.00 X 0 0 0 CAROLYN JORDAN CLARK BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 ALICIA FARRER BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 CHARLENE WOOD FOLEY BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 KIMBERLY JONES GREEN BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 BRYAN HAAS BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 AVERY B HALL BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 CHRISTY BARRICK HOLDEN BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 CHARLENE JOHNSON BOARD MEMBER (THRU 3/31/19) 3.00 X 0 0 0 LIVIAN LAWRENCE JONES BOARD MEMBER (THRU 3/31/19) 3.00 X 0 0 0 PAUL L KIZAKEVICH BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 TASSE ALEXANDER LITTLE BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 H ALLEN LOCKWOOD JR BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 JEFF D MERRITT BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 STEVEN C PRICE BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 JAMES K REAVES BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 BIXBY OGDEN STEWART BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 HUNTER WIDENER BOARD MEMBER (THRU 3/31/19) 1.00 X 0 0 0 CANTEY ALEXANDER BOARD MEMBER 1.00 X 0 0 0 JOHN BAILEY BOARD MEMBER 1.00 X 0 0 0 JOHN BLACKBURN BOARD MEMBER 1.00 X 0 0 0 JEFF CHESSON BOARD MEMBER 1.00 X 0 0 0 KYLER FERGUSON BOARD MEMBER 1.00 X 0 0 0 SCOTT LAMPE BOARD MEMBER 1.00 X 0 0 0 SAM POWERS BOARD MEMBER 1.00 X 0 0 0 MARK RICKS BOARD MEMBER 1.00 X 0 0 0 CHAD SEIGLER BOARD MEMBER 1.00 X 0 0 0 JAMES TOLLIVER BOARD MEMBER 1.00 X 0 0 0 DAPHNE URQUHART BOARD MEMBER 1.00 X 0 0 0 STACIE WALKER BOARD MEMBER 1.00 X 0 0 0 DANNY WILCOX BOARD MEMBER 1.00 X 0 0 0 0 1411291 196425 0 0 1 0 UNC MANAGEMENT COMPANY INC 1400 ENVIRON WAY CHAPEL HILL NC 27517 INVESTMENT MANAGEMENT 354637 SWF ASU LLC PO BOX 812 WILKESBORO NC 28697 PROJECT MANAGEMENT FEES 200000 COPPER REEF ENTERPRISES DBAPLUS DELTA P 6965 EL CAMINO REAL SUITE 105-488 CARLSBAD CA 920094101 PROFESSIONAL DEVELOPMENT SERVICES 122740 BLACKBAUD INCORPORATED 2000 DANIEL ISLAND DRIVE CHARLESTON SC 29492 SOFTWARE SERVICES 112072 4 83191 19421849 866849 19505040 OTHER PROGRAM REVENUE 900099 549214 549214 EVENT ADMISSIONS & MEALS 611710 55128 55128 FLEET VEHICLE REVENUE 480000 8892 8892 613234 638224 638224 71643 1600 70043 6146176 2572050 5991659 5184956 154517 -2612906 -2458389 -2458389 32341 83191 50252 -17911 -17911 28300 10000 18300 18300 MISCELLANEOUS 900099 32809 32809 PASSTHROUGH FROM: THE BROYHILL AL 900099 1154 1154 33963 18404104 646043 2754 -1749733 14624147 14624147 354638 354638 50634 6109 44525 202006 13687 2597 185722 154176 103978 12500 37698 231439 45165 633 185641 253970 108126 145844 177768 177768 OTHER CONTRACT SERVICES 696790 300121 0 396669 SUPPLIES 397621 132849 8584 256188 CURRENT SERVICES 243445 28563 16664 198218 FIXED CHARGES 178850 27065 46553 105232 13947 13947 17579431 15403757 664462 1511212 1375 498 4664394 4154998 28955244 21482174 46960 31943 56971 75849 1884000 6754600 1884000 122589134 131600275 190581 184225 163259259 159413962 187737 114771 528 3047702 5475356 4371103 1835122 2983409 7498743 10516985 X 7573147 7914895 148187369 140982082 155760516 148896977 163259259 159413962 X 824673 3064347 -10752559 X X 0 1 X 1 0 X 11908472 12165271 28053886 18630299 19505040 90262968 11908472 12165271 28053886 18630299 19505040 90262968 5098370 85164598 314871 432518 558522 709930 709867 2725708 770 757 -2868 -155 2754 1258 5420 10822 9484 12784 32808 71318 93061252 0.91510 0.90810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 98619882 983754 -1023683 2665264 5751888 90162801 89026986 7776974 4358203 1568401 973880 98619882 81713933 2451121 7606143 1512801 1231410 89026986 75714058 2573059 6854075 1503599 1923660 81713933 76480833 2514643 -1029781 1351488 900149 75714058 0.01870 0.71330 0.26800 0 0 1884000 1884000 1884000 ALTERNATIVE INVESTMENTS 95848990 F BENEFICIAL INTERESTS IN PERPETUAL TRUSTS/OTHER 3304506 F SHORT TERM INVESTMENT FUND 31444651 F OTHER ALTERNATIVE INVESTMENTS 1002128 F 131600275 SPLIT INTEREST AGREEMENT 2983409 2983409 X 24738770 3064347 4083018 70263 7217628 17521142 882962 882962 18404104 21130042 4083018 4083018 17047024 532407 532407 17579431 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIP AWARDS AND SUPPORT OF UNIVERSITY PROGRAMS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION FILES FORM 990-T ANNUALLY AND REPORTS UNRELATED BUSINESS INCOME. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 15,834. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 54,429. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES RECLASSIFIED TO EXPENSES VERSES NETTING WITH REVENUE 354,638. INTEREST EXPENSE RECLASSIFIED OT EXPENSE VERSES NETTING WITH REVENUE 177,768. CHANGE IN UNCOLLECTIBLE PLEDGES RECEIVABLE 350,556. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES RECLASSIFIED TO EXPENSES VERSES NETTING WTIH REVENUE 354,638. INTEREST EXPENSE RECLASSIFIED OT EXPENSE VERSES NETTING WITH REVENUE 177,769. ATHLETICS LEGENDS GALA DINNER 28001 21726 6275 2785 APPALACHIAN ENERGY SUMMIT 30000 27675 2325 263 4 57531 33790 23741 8106 39098 115532 83191 32341 8106 42146 50252 -17911 28300 10000 0 28300 10000 10000 18300 NC 0 NORTH CAROLINA GENERAL STATUTE SEC 14-309 15 PERMITS CERTAIN NONPROFIT ORGANIZATIONS TO CONDUCT FOUR RAFFLES PER YEAR. A RAFFLE CONDUCTED PURSUANT TO THIS SECTION IS NOT A VIOLATION OF STATE LAW. 0 0 0 1.00000 CLAYTON CHRISTIAN ASU BOX 32064 MCKINNEY ALUMNI CENTE BOONE NC 28608 0 DOUG BANKS DOUG BANKS, ASSOCIATE ATHLETICS DIRECTOR, DEVELOPMENT X 0 1 APPALACHIAN STATE UNIVERSITY OPERATIONS DEPARTMENT BOONE NC 28608 561176030 STATE GOV'T ENTITY 5798439 650632 FMV FMV OF SERVICES DONATED SUPPORT FOR APPALACHIAN STATE UNIVERSITY PROGRAMS AND STUDENTS. APPALACHIAN STATE UNIVERSITY SCHOLARSHIP SUPPORT BOONE NC 28608 561176030 STATE GOV'T ENTITY 3742854 0 FMV SUPPORT FOR APPALACHIAN STATE UNIVERSITY SCHOLARSHIPS. APPALACHIAN STATE UNIVERSITY ATHLETIC FUND BOONE NC 28608 561176030 STATE GOV'T ENTITY 4300883 124739 FMV FMV OF EQUIPMENT AND SERVICES DONATED SUPPORT FOR APPALACHIAN STATE UNIVERSITY STUDENT ATHLETE SCHOLARSHIPS AND PROGRAMS. APPALACHIAN REAL ESTATE HOLDINGS INC MCKINNEY ALUMNI CENTER BOONE NC 28608 271877570 501(C)(3) 6600 0 FMV GENERAL SUPPORT 2 0 PART I, LINE 2: APPALACHIAN STATE UNIVERSITY FOUNDATION WORKS WITH APPALACHIAN STATE UNIVERSITY TO ENSURE THAT THE GRANTS ARE BEING SPENT WITHIN THE CRITERIA OF THE GIFT OR ENDOWMENT AGREEMENTS. 0 0 0 0 0 0 0 0 0 SHERI EVERTS BOARD MEMBER 0 374560 0 0 0 0 0 0 0 0 0 374560 0 0 RANDY EDWARDS PRESIDENT (THRU 6/30/20) 0 241881 0 0 0 0 0 48089 0 6237 0 296207 0 0 PAUL FORTE BOARD MEMBER 0 238323 0 0 0 0 0 48119 0 6237 0 292679 0 0 SCHEDULE J, PART I, LINE 3 COMPENSATION OF THE PRESIDENT, CFO AND ANY OTHER EMPLOYEE OF APPALACHIAN STATE UNIVERSITY THAT PROVIDES SERVICES TO THE FOUNDATION IS ESTABLISHED THROUGH THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT IN ACCORDANCE WITH GUIDELINES ESTABLISHED BY THE STATE OF NORTH CAROLINA. SCHEDULE J, PART II, COLUMN B THE FOUNDATION HAS NO EMPLOYEES. THE FOUNDATION PROVIDES FUNDING TO SUPPORT APPALACHIAN STATE UNIVERSITY EMPLOYEES SUPPORTING THE FOUNDATION'S OPERATIONS AS PART OF THE MONTHLY CONTRIBUTION OF FUNDS FROM THE FOUNDATION TO THE UNIVERSITY. X 20 279398 APPRAISAL X 62 361885 MARKET QUOTE X SUPPLIES AND EQUIPMENT 59 225566 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATIONAL DOCUMENTS WERE AMENDED DURING THE FISCAL YEAR TO REDUCE THE NUMBER OF PUBLIC DIRECTORS SERVING ON THE BOARD OF DIRECTORS FROM 30 TO 13, TO CONSOLIDATE THE STANDING COMMITTEES FROM 5 TO 3, AND TO PROVIDE A PROCESS FOR EMERGENCY POWERS. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS AND DISCUSSES THE FORM 990 WITH THE PREPARER AND THEN THE FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS FOR REVIEW, WITH THE EXCEPTION OF SCHEDULE B WHICH THE BOARD MEMBERS WILL NOT BE ABLE TO REVIEW. THE RETURN IS FILED AFTER THE FORM 990 IS SENT TO THE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION ATTORNEY MEETS WITH THE BOARD OF DIRECTORS ANNUALLY TO REVIEW THE CONFLICT OF INTEREST POLICY. BOARD MEMBERS RECEIVE THE CONFLICT OF INTEREST ANNUAL REPORTING STATEMENT AT THE MEETING FOR COMPLETION AND RETURN IT TO THE FOUNDATION OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ADHERES TO THE POLICIES AND PROCEDURES SET FORTH BY APPALACHIAN STATE UNIVERSITY, A GOVERNMENTAL INSTITUTION. EXECUTIVE COMPENSATION IS REVIEWED AND APPROVED BY UNIVERSITY HUMAN RESOURCES. UNIVERSITY HUMAN RESOURCES RELY ON PERFORMANCE EVALUATIONS, PEER AND INDUSTRY COMPARISONS, AND ANY ADDITIONAL INDEPENDENT DATA RECEIVED TO SET THE EXECUTIVE COMPENSATION. THE DECISION IS DOCUMENTED IN THE UNIVERSITY'S RECORDS. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST TO THE FOUNDATION ACCOUNTING OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 15,834. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 54,429. CHANGE IN ALLOWANCE FOR UNCOLLECTABLE PLEDGES RECEIVABLE -350,556. CHANGE IN ACCOUNTING METHOD (SEE SCHEDULE O) -10,472,266. FORM 990, PART XII, LINE 2C NO CHANGE IN SELECTION OR OVERSIGHT PROCESS FORM 990, PART XI, LINE 9 DURING SEPTEMBER 2019, THE FOUNDATION CHANGED THEIR METHOD OF ACCOUNTING FROM FROM THE ACCOUNTING STANDARDS PROMULGATED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) TO THOSE PROMULGATED BY THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB). THE IMPACT OF THIS CHANGE IS DETAILED IN THE FOOTNOTES TO THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30, 2020. APPALACHIAN STATE UNIVERSITY APPALACHIAN STATE UNIVERSITY BOONE NC 28608 561176030 PUBLIC UNIVERSITY NC STATE GOV'T ENTITY N/A N/A 0 APPALACHIAN REAL ESTATE HOLDINGS INC PO BOX 32156 BOONE NC 28608 271877570 TO HOLD AND MANAGE REAL ESTATE INTERESTS FOR THE BENEFIT OF THE UNIVERSITY NC 501(C)(3) LINE 11A, I APPALACHIAN STATE UNIVERSITY 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 APPALACHIAN STATE UNIVERSITY B 13842177 ACTUAL CASH TRANSFERRED APPALACHIAN STATE UNIVERSITY N 775370 FMV APPALACHIAN REAL ESTATE HOLDINGS INC B 6600 ACTUAL CASH TRANSFERRED