2021-02-25T14:52:31-06:00 2020-06-30 561031342 WILLIAMS OVERMAN PIERCE LLP 328 E MARKET STREET SUITE 100 GREENSBORO NC 27401 990 2019-07-01 566045324 NORTH CAROLINA TEXTILE FOUNDATION INC NORT 9195137149 NCSU BOX 7207 RALEIGH NC 27695 ERIN DELEHANTY ASSISTANT TREASURER 9195153878 2021-02-18 1 MARYELLEN PRANCE CPA P01662078 3362751686 2021-02-18 X 2019 2022-09-23 18:48:47Z MICHAEL WARD NCSU BOX 7207 RALEIGH NC 27695 16517636 0 X WWW.TEXTILES.NCSU.EDU/GIVING/NC-TEXTILE-FOUND X 1942 NC SUPPORT THE COLLEGE OF TEXTILES AT NORTH CAROLINA STATE UNIVERSITY THROUGH SCHOLARSHIPS, PROFESSORSHIPS, RESEARCH AND OTHER NEEDS. 17 16 0 17 0 0 13578912 6171843 1825 22975 1211938 2410228 0 0 14792675 8605046 3035012 2289073 0 0 0 784086 0 0 339602 1028817 710573 4063829 3783732 10728846 4821314 63460204 68426543 541535 483732 62918669 67942811 X THE MISSION OF THE NORTH CAROLINA TEXTILE FOUNDATION IS TO PROMOTE THE WELFARE, FUTURE DEVELOPMENT AND REPUTATION OF THE COLLEGE OF TEXTILES AT NORTH CAROLINA STATE UNIVERSITY AS THE PREMIER INSTITUTION FOR TEXTILE EDUCATION AND RESEARCH. AS A NONPROFIT ORGANIZATION, THE FOUNDATION SUPPORTS THE COLLEGE BY PROVIDING FUNDS FOR SCHOLARSHIPS TO DESERVING UNDERGRADUATE AND GRADUATE STUDENTS, RECRUITMENT AND RETENTION OF HIGHLY QUALIFIED EDUCATORS AND RESEARCHERS AND THE ACQUISITION AND MAINTENANCE OF STATE-OF-THE-ART EQUIPMENT AND FACILITIES FOR RESEARCH AND EDUCATION. 0 0 1564932 1271846 THE FOUNDATION SUPPORTS THE COLLEGE OF TEXTILES AT NORTH CAROLINA STATE UNIVERSITY THROUGH GRANTS FOR FACILITIES, FACULTY, FELLOWSHIPS, SCHOLARSHIPS AND EQUIPMENT. 1017227 1017227 22975 THE FOUNDATION AWARDS SCHOLARSHIPS TO DESERVING GRADUATE AND UNDERGRADUATE STUDENTS OF THE COLLEGE OF TEXTILES AT NORTH CAROLINA STATE UNIVERSITY BASED ON MERIT. 2582159 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 8 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DONNA GRANT 9195153878 CAMPUS BOX 8301 RALEIGH NC 27695 CRES CALABRESE DIRECTOR 1.00 X 0 0 0 RICK ELMORE PRESIDENT 1.00 X X 0 0 0 CHUCK H FLYNT JR DIRECTOR 1.00 X 0 0 0 MATTHEW B GRIFFITH DIRECTOR 1.00 X 0 0 0 CHARCK S HEILIG III DIRECTOR 1.00 X 0 0 0 WESLEY D HORNE PAST PRESIDENT 1.00 X X 0 0 0 TY HUGGINS VICE PRESIDENT 1.00 X X 0 0 0 ELAINE HUGHES DIRECTOR 1.00 X 0 0 0 AMY H ISENHOUR DIRECTOR 1.00 X 0 0 0 KEN KUNBERGER DIRECTOR 1.00 X 0 0 0 LEIB OEHMIG DIRECTOR 1.00 X 0 0 0 GEORGE RAGSDALE DIRECTOR 1.00 X 0 0 0 ELLEN ROHDE DIRECTOR 1.00 X 0 0 0 KAREN STUCKEY DIRECTOR 1.00 X 0 0 0 BRENDAN SULLIVAN TREASURER 1.00 X X 0 0 0 NANCY WEBSTER SECRETARY 1.00 X X 0 0 0 DAVID HINKS UNIVERSITY EX-OFFICIO 1.00 40.00 X X 0 261696 41121 PEACHES G BLANK DIRECTOR 1.00 X 0 0 0 DERICK S CLOSE DIRECTOR 1.00 X 0 0 0 LES MILLER DIRECTOR 1.00 X 0 0 0 ROBIN PERKINS DIRECTOR 1.00 X 0 0 0 MICHAEL WARD EXECUTIVE DIRECTOR 1.00 40.00 X 0 141631 33203 CARRIE BHADA FORMER EXEC. DIRECTOR/EX-OFFICIO 0.00 40.00 X 0 182574 40924 0 585901 115248 0 1 1 0 0 6171843 36297 6171843 SCHOLARSHIP & ENRICHMENT REPAYMEN 900099 22975 22975 22975 509669 509669 9813149 7912590 1900559 1900559 1900559 8605046 22975 0 2410228 2289073 2289073 784086 558981 225105 45257 45257 220621 220621 22543 6185 16358 81431 4583 76848 9388 2152 7236 3461 3461 6274 6274 MISC. SERVICES & FEES 158495 137421 7019 14055 CAPITAL TRANSFERS 152204 152204 SUPPLIES 8199 8199 DUES & SUBSCRIPTIONS 2700 2700 3783732 2582159 861971 339602 51256 175881 32905 22237 14129 10668 62874610 67627170 474674 437496 45535 175328 63460204 68426543 541535 483732 541535 483732 X 19036420 5348697 43882249 62594114 62918669 67942811 63460204 68426543 X 4821314 201924 904 X 0 1 X 1 0 X 1176204 1177000 2164836 1578912 2171843 8268795 1176204 1177000 2164836 1578912 2171843 8268795 617742 7651053 533971 612814 503432 460241 509669 2620127 2917 1331 1136 1825 22975 30184 10919106 0.70070 0.75060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 61686113 3723964 2401747 2425391 65386433 46672253 12361475 5010092 2357707 61686113 44540564 513521 3916846 2298678 46672253 41198724 439106 5195631 2292897 44540564 43407289 302624 -520469 1990720 41198724 0.08050 0.54100 0.37850 0 0 32905 22237 10668 10668 X 8587253 201924 904 202828 8384425 220621 220621 8605046 3563111 0 3563111 220621 220621 3783732 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 120 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES RELATED TO THE MISSION OF THE UNIVERSITY. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2020, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO TAX YEAR 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 904. 1 NC STATE UNIVERSITY COLLEGE OF TEXTILES 1000 MAIN CAMPUS DRIVE RALEIGH NC 27695 566000756 501(C)(3) 2289073 TO PROVIDE FOR STUDENT SCHOLARSHIPS, FUND RESEARCH AND PROFESSORSHIPS AND ASSIST WITH CAPITAL PURCHASES 1 PART I, LINE 2: THE FOUNDATION DETERMINES THE AMOUNT OF THE GRANT TO THE COLLEGE BASED ON THE FAIR MARKET VALUE OF ENDOWMENT FUNDS AND MONITORS THE DISBURSEMENT OF THE GRANT THROUGH MONTHLY REPORTS RECEIVED FROM THE COLLEGE. X 0 0 0 0 0 0 0 0 0 DAVID HINKS UNIVERSITY EX-OFFICIO 0 261696 0 0 0 0 0 34884 0 6237 0 302817 0 0 MICHAEL WARD EXECUTIVE DIRECTOR 0 141631 0 0 0 0 0 26966 0 6237 0 174834 0 0 CARRIE BHADA FORMER EXEC. DIRECTOR/EX-OFFICIO 0 182574 0 0 0 0 0 34687 0 6237 0 223498 0 0 SCHEDULE J, PART II - COMPENSATION FROM RELATED ORGANIZATIONS THE BOARD MEMBERS THAT ARE COMPENSATED RECEIVE COMPENSATION FROM NC STATE UNIVERSITY, A 170(C)(1) ORGANIZATION RELATED TO THE NORTH CAROLINA TEXTILE FOUNDATION, INC. X 3 36297 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 NORTH CAROLINA TEXTILE FOUNDATION, INC. AMENDED THEIR BYLAWS AS OF JULY 9, 2019. ARTICLE II, SECTION 2 (B) AND ARTICLE III, SECTION 7 WERE AMENDED AS FOLLOWS: ARTICLE II, SECTION 2: (B) EX-OFFICIO DIRECTORS: AT LEAST ONE SENIOR ACADEMIC OFFICER OR SENIOR ADMINISTRATIVE OFFICER OF NORTH CAROLINA STATE UNIVERSITY ("UNIVERSITY") OR A DESIGNEE OF THE CHANCELLOR OF THE UNIVERSITY SHALL SERVE AS AN EX-OFFICIO DIRECTOR AND SUCH DIRECTORS SHALL BE REFERRED TO IN THESE BYLAWS AS "UNIVERSITY EX-OFFICIO DIRECTORS". THE IMMEDIATE PAST PRESIDENT OF THE FOUNDATION'S BOARD OF DIRECTORS SHALL SERVE AS AN EX-OFFICIO DIRECTOR (PROVIDED HE OR SHE IS NOT SERVING AS AN "ELECTED DIRECTOR") AND SHALL BE REFERRED TO IN THESE BYLAWS AS THE "PRESIDENT EX-OFFICIO DIRECTOR". THE PRESIDENT EX-OFFICIO DIRECTOR SHALL SERVE IN SUCH CAPACITY FOR A TERM OF ONE YEAR. THE EXECUTIVE DIRECTOR OF THE FOUNDATION SHALL SERVE AS AN EX-OFFICIO DIRECTOR AND SHALL BE REFERRED TO IN THESE BYLAWS AS THE "EXECUTIVE EX-OFFICIO DIRECTOR". "UNIVERSITY EX-OFFICIO DIRECTORS", "EXECUTIVE EX-OFFICIO DIRECTOR", AND "PRESIDENT EX-OFFICIO DIRECTOR" SHALL BE REFERRED TO COLLECTIVELY IN THESE BYLAWS AS EX-OFFICIO DIRECTORS. THE PRESIDENT EX-OFFICIO DIRECTOR AND THE EXECUTIVE EX-OFFICIO DIRECTOR SHALL BE NON-VOTING POSITIONS. THE UNIVERSITY EX-OFFICIO DIRECTOR SHALL BE A VOTING POSITION. THE TWO ASSISTANT TREASURERS WILL BE APPOINTED BY NC STATE UNIVERSITY AND SHALL BE NON-VOTING MEMBERS REFERRED TO AS "ASSISTANT EX- OFFICIO DIRECTOR". ARTICLE III, SECTION 7: THE TREASURER SHALL HAVE CUSTODY OF ALL FUNDS AND SECURITIES BELONGING TO THE CORPORATION AND SHALL RECEIVE, DEPOSIT OR DISBURSE THE SAME UNDER THE DIRECTION OF THE BOARD OF DIRECTORS. THE TREASURER SHALL MAINTAIN APPROPRIATE ACCOUNTING RECORDS AS MAY BE REQUIRED BY LAW AND SHALL REVIEW THE OPERATING BUDGET WITH THE EXECUTIVE DIRECTOR ON A QUARTERLY BASIS AT A MINIMUM. IN GENERAL, THE TREASURER SHALL PERFORM ALL DUTIES INCIDENT TO THE OFFICE OF TREASURER AND SUCH OTHER DUTIES AS FROM TIME TO TIME MAY BE ASSIGNED BY THE PRESIDENT OR BY THE BOARD OF DIRECTORS. WITH APPROVAL OF THE BOARD, THESE ADMINISTRATIVE DUTIES MAY BE DELEGATED TO THE ASSISTANT TREASURER OR ADMINISTRATIVE OFFICER OF THE FOUNDATION, EXCEPT FOR THE DUTY TO REVIEW THE OPERATING BUDGET. TWO ASSISTANT TREASURERS SHALL BE APPOINTED BY NORTH CAROLINA STATE UNIVERSITY AND WILL SERVE EX-OFFICIO AS OFFICERS RESPONSIBLE FOR KEEPING ACCURATE AND DETAILED RECORD OF ALL RECEIPTS AND DISBURSEMENT OF THE FUNDS OF THE CORPORATION WHICH RECORD SHALL BE SUBMITTED TO INSPECTION BY ANY MEMBER OF THE CORPORATION AS PROVIDED BY STATUTE. THE ASSISTANT TREASURERS SHALL DEPOSIT ALL FUNDS OF THE CORPORATION COMING INTO HIS HANDS IN SUCH BANK OR BANKS AS MAY BE APPROVED BY THE BOARD OF DIRECTORS AND GENERALLY SHALL PERFORM ALL ACTS INCIDENT TO THE OFFICE OF AND SHALL HAVE ONLY SUCH POWERS AND DUTIES AS MAY BE ASSIGNED TO HIM BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE BOARD MEMBERS TO REVIEW AND APPROVE PRIOR TO THE FILING DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY AT EACH BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE DIRECTOR AND OTHER EMPLOYEES ARE PAID BY A RELATED ORGANIZATION (COLLEGE OF TEXTILES, NC STATE UNIVERSITY). THE COLLEGE DETERMINES THE COMPENSATION OF THE EMPLOYEES BASED ON STATE PAY GRADES AND BUDGETARY CONSIDERATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ONLINE OR UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 904. NORTH CAROLINA STATE UNIVERSITY NCSU BOX 7207 RALEIGH NC 27695 566000756 SCHOLARSHIP AND OTHER SUPPORT FOR THE COLLEGE OF TEXTILES NC 170(C)(1) N/A 0 NORTH CAROLINA STATE UNIVERSITY FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 566049503 SUPPORTS THE VARIOUS COLLEGES WITHIN THE UNIVERSITY NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NC STATE INVESTMENT FUND INC NCSU BOX 7207 RALEIGH NC 27695 311607634 INVEST FUNDS OF NC STATE UNIVERSITY ENDOWNMENT AND RELATED FOUNDATIONS NC 501(C)(3) 509(A)(3) N/A 0 THE NORTH CAROLINA AGRICULTURAL FOUNDATION NCSU BOX 7207 RALEIGH NC 27695 566049304 SUPPORTS THE COLLEGE OF AGRICULTURE AND LIFE SCIENCES AT NCSU NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NC STATE UNVERSITY ALUMNI ASSOCIATION NCSU BOX 7207 RALEIGH NC 27695 566035544 PROMOTES ALUMNI AFFAIRS & AWARENESS OF NCSU IN THE COMMUNITY NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NC STATE ENGINEERING FOUNDATION NCSU BOX 7207 RALEIGH NC 27695 566046987 SUPPORT THE COLLEGE OF ENGINEERING AT NCSU NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NC STATE UNVERSITY COLLEGE OF SCIENCES FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 581524289 SUPPORT THE COLLEGE OF SCIENCES AT NCSU NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NORTH CAROLINA VETERINARY MEDICAL FOUNDATION NCSU BOX 7207 RALEIGH NC 27695 581344473 PROVIDES FINANCIAL SUPPORT IN THE FIELD OF VETERINARY MEDICINE AT NCSU NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NORTH CAROLINA NATURAL RESOURCES FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 560653350 SUPPORT ORGANIZATION OF NCSU NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NC STATE UNVERSITY PARTNERSHIP CORPORATION NCSU BOX 7207 RALEIGH NC 27695 561444287 SUPPORT ORGANIZATION OF NCSU NC 501(C)(3) 509(A)(3) N/A 0 NC STATE UNVERSITY STUDENT AID ASSOCIATION NCSU BOX 37100 RALEIGH NC 27627 560650623 SUPPORTS ATHLETIC PROGRAMS AT NCSU NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 NORTH CAROLINA TOBACCO FOUNDATION NCSU BOX 7207 RALEIGH NC 27695 591715828 SUPPORTS THE TOBACCO CURRICULUM AT NCSU NC 501(C)(3) 170 (B)(1)(A)(IV) N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NC STATE UNIVERSITY B 2289073 AGENCY AGREEMENT