2021-05-07T16:54:42-05:00 2020-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2019-07-01 566058412 THE EDUCATIONAL FOUNDATION INC % DIANE S ALDRIDGE EDUC 9198432000 450 Skipper Bowles Drive Chapel Hill NC 27599 DIANE S ALDRIDGE CFO & GEN. COUNSEL 9198432000 2021-05-07 true SHAWN M HUTCHINSON P01048557 3362753394 2019 2022-09-23 18:48:47Z JOHN MONTGOMERY 450 Skipper Bowles Drive Chapel Hill NC 27599 79528652 false X www.ramsclub.com X 1938 NC THE CORPORATION WAS FORMED TO PROVIDE EDUCATIONAL ASSISTANCE TO INDIVIDUALS ATTENDING THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL AND TO SUPPORT UNC facilities & PROGRAMS 21 21 54 200 0 0 40336826 75189607 0 0 3245368 4052466 -12045 -20757 43570149 79221316 64268470 28408782 0 0 4338665 4867032 33453 41767 3973236 8539593 10082287 77180181 43399868 -33610032 35821448 131716648 148527543 147035651 132213494 -15319003 16314049 X THE SPECIFIC OBJECTS FOR WHICH THIS CORPORATION ARE FORMED INCLUDE, WITHOUT LIMITATION, (A) PROVIDING ASSISTANCE TO WORTHY YOUNG MEN AND WOMEN SEEKING AN EDUCATION AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL (THE "UNIVERSITY") AND (B) SUPPORTING UNIVERSITY PROGRAMS BY PROVIDING FUNDS FOR THE CONSTRUCTION OF FACILITIES OR THE PURCHASE OF EQUIPMENT FOR SUCH PROGRAMS. false false 19717764 16895602 CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL: CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL TO PROVIDE SCHOLARSHIP ASSISTANCE TO STUDENT ATHLETES. 5770706 4359623 CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL: CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL TO PROVIDE FINANCIAL ASSISTANCE TO OPERATING BUDGETS FOR 28 SPORTS, TO PROVIDE DEBT SERVICE FOR PREVIOUS RENOVATIONS OF ATHLETIC FACILITIES, TO PROVIDE ASSISTANCE WITH CONSTRUCTION OF PARKING FACILITIES ON CAMPUS, AND TO PROVIDE FINANCIAL ASSISTANCE TO VARIOUS OTHER ATHLETIC PROGRAMS AND PROJECTS. 9975722 7153557 CONTINUED CONSTRUCTION OF MULTIPLE ATHLETIC PROJECTS INCLUDING 1) A NEW DEDICATED INDOOR FOOTBALL PRACTICE FACILITY AND TWO PRACTICE FIELDS, 2) A NEW SOCCER AND LACROSSE STADIUM COMPLEX INCLUDING A TEAM BUILDING AND MUSEUM AND A STADIUM COMPLEX WITH INDIVIDUAL SEATS, CONCESSIONS AND RESTROOMS AND CONCOURSES CONNECTING THE NORTH AND SOUTH SIDES OF CAMPUS, 3) A NEW FIELD HOCKEY STADIUM INCLUDING A NEW TEAM BUILDING AND STADIUM COMPLEX, AND 4) A NEW DEDICATED OUTDOOR TRACK COMPLEX WITH FOUR ADJACENT PRACTICE FIELDS, PAVED PARKING, PERMANENT SEATING AND RESTROOMS. EXPANDED THE BOUNDARY AREAS AND UPGRADED THE PLAYING SURFACE AT KENAN STADIUM IN ORDER TO ACCOMMODATE FOOTBALL PRACTICE AND COMPETITION DURING THE CONSTRUCTION OF THE INDOOR FOOTBALL PRACTICE FACILITY. COMPLETED RENOVATIONS IN THE KENAN STADIUM FOOTBALL LOCKER ROOM AND WEIGHT ROOM. BEGAN RENOVATIONS TO THE EDDIE SMITH FIELDHOUSE TO INCLUDE RE-SURFACING THE TRACK, ATHLETE LOCKER ROOM AND LOUNGE ENHANCEMENTS, A FUELING AND RECOVERY STATION, INTERIOR PAINTING, EXTERIOR ENTRANCE ENHANCEMENTS AND UPDATED SIGNAGE. 35464192 true true false false false false false false false true true true false false true false true false false false false false false true true false false true false true true false false false false false false false false false false true false false false false true true true false false true 35 0 true 54 true false false false false false true true false false false false false false X 21 21 true false false false true false false true true false false true true true true true true true true false X DIANE S ALDRIDGE 9198432000 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 X JOHN MONTGOMERY EXECUTIVE DIRECTOR 40.0 0.0 X 421862 0 46868 KEN MACK ASSOC EXEC DIRECTOR LEAD GIFTS 40.0 0.0 X 196014 0 29678 TIM SMITH DEPUTY DIRECTOR 40.0 0.0 X 197842 0 21568 DIANE ALDRIDGE CFO & GENERAL COUNSEL 40.0 0.0 X 185554 0 25460 DAWN MCPHERSON CHIEF OPERATING OFFICER 40.0 0.0 X 171203 0 30628 SUE W STANKAVAGE ASSOC EXEC DIR SCHOLARSHIP 40.0 0.0 X 170016 0 28261 MATT TERRELL CHIEF STRATEGY & COMM OFFICER 40.0 0.0 X 150978 0 23731 SETH REEVES MAJOR GIFTS DIRECTOR 40.0 0.0 X 148331 0 19845 ERIC MONTROSS MAJOR GIFTS DIRECTOR 40.0 0.0 X 144966 0 9288 TODD POPE PAST CHAIR 0.0 0.0 X X 0 0 0 STEVE VETTER CHAIR 0.0 0.0 X X 0 0 0 MILTOM PETTY TREASURER 0.0 0.0 X X 0 0 0 TOM MANN SECRETARY 0.0 0.0 X X 0 0 0 KEN WILLIAMS EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 CHRIS SMITH EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 DON WILLIAMS VICE CHAIR 0.0 0.0 X X 0 0 0 MUNROE COBEY EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 DWIGHT STONE EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 LAURA SCOTT EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 HENRY SMITH EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 KEITH STONEMAN EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 CHUCK DUCKETT EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 VANESSA WITTMAN EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 ANNE LLOYD EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 JIM SIGMAN EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 DAVID ROUTH EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 FRANK BRENNER EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 MELANIE BIESE EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 ALGE CRUMPLER EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 VAUGHN MOORE EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 1786766 0 235327 10 false true false TA LovingClancy Theys 400 Patetown Rd GOLDSBORO NC 27530 GENERAL CONTRACTOR 9787245 Frank L Blum Construction 4020 Westchase Blvd Ste 450 RALEIGH NC 27607 GENERAL CONTRACTOR 1005934 PRECISION TURF LLC 3276 BUFORD DRIVE STE 104-351 BUFORD GA 30519 TURF AND LANDSCAPING 1590540 VISION CONTRACTORS 2315 MYRON DR 200 RALEIGH NC 27607 GENERAL CONTRACTORS 1403394 ASTROTURF CORPORATION 2680 ABUTMENT RD DALTON GA 30721 FIELD TURF 871098 25 13414709 17893 11737620 50019385 6421592 75189607 0 279552 279552 0 0 0 0 0 4049753 276839 3772914 3772914 3772914 9740 17893 30497 -20757 -20757 0 0 0 0 0 0 0 79221316 4031709 28408782 28408782 0 0 0 1056283 549901 258578 247804 0 3261545 1698176 798340 765029 294452 153306 72077 69069 0 254752 132637 62357 59758 0 46265 46265 119850 119850 0 41767 41767 295067 295067 234803 14402 220401 548021 140977 92456 314588 230248 119878 56361 54009 230881 42425 92783 95673 0 256568 133582 62803 60183 316628 164980 12914 138734 0 76897 40036 18823 18038 2647060 2647060 0 30555 30555 243434 126744 59588 57102 SPECIAL EVENTS 137400 50977 86423 GAME DAY EXPENSES 2646440 1005647 1640793 BAD DEBT 1011754 1011754 OTHER 1010416 49084 857467 103865 43399868 35464192 3962440 3973236 0 0 26389205 21250241 26483068 50328026 0 0 0 0 0 0 0 0 0 0 6482831 5246706 675877 606349 85160 69528 0 0 65845203 65018928 0 0 0 0 6431181 6614114 131716648 148527543 7723731 3359889 0 0 806326 658868 91506741 82824443 0 0 0 0 18165362 14187390 27504151 27470751 1329340 3712153 147035651 132213494 X -74499783 -62927729 59180780 79241778 -15319003 16314049 131716648 148527543 X 35821448 -2409257 -1779139 X false true X true false X 44458476 53190555 47729530 40336826 75189607 260904994 0 0 44458476 53190555 47729530 40336826 75189607 260904994 20087942 240817052 44823 102741 219610 376108 279552 1022834 0 18080 18170 9740 45990 261973818 0.91924 0.98806 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46280969 1871753 821295 2229937 46744080 43147669 1511343 3518546 1896589 46280969 37946247 2716693 4227627 1742898 43147669 31824724 3604518 3991433 1474428 37946247 31614169 2386276 -792941 1382780 31824724 0.49690 0.50310 true false 675877 606349 69528 69528 CERTIFICATE OF DEPOSIT 269570 F UNC CH FDN INV. FUND, INC. 64432479 F OTHER EQUITY INVESTMENTS 316879 F 65018928 0 PAYABLES TO UNC CH 416144 RETIREMENT AND OTHER BENEFITS 1516870 INTEREST RATE SWAP 1779139 3712153 X 63325797 -2409257 -2409257 65735054 13486262 13486262 79221316 31692745 31692745 11707123 11707123 43399868 FORM 990, SCHEDULE D, PART V, LINE 4 INTENDED USES OF ENDOWMENT FUNDS PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY. INCOME FROM THESE ASSETS IS EXPENDABLE TO PROVIDE OPERATIONAL SUPPORT FOR THE DESIGNATED SPORTS PROGRAMS OF THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL. FORM 990, SCHEDULE D, PART X, LINE 2 THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON RELATED INCOME UNDER INTERNAL REVENUE CODE 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND APPLICABLE STATE STATUTES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. FORM 990, SCHEDULE D, PART XI, LINE 4B-OTHER SPECIAL EVENT EXPENSE RECLASS: (30,497) TRANSFER FROM THE EDUCATIONAL FOUNDATION SCHOLARSHIP ENDOWMENT TRUST TO THE UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL: 11,737,620 INTEREST RATE SWAP: 1,779,139 TOTAL OTHER: 13,486,262 FORM 990, SCHEDULE D, PART XII, LINE 4B-OTHER SPECIAL EVENT EXPENSE RECLASS: (30,497) TRANSFER FROM THE EDUCATIONAL FOUNDATION SCHOLARSHIP ENDOWMENT TRUST TO THE UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL: 11,737,620 TOTAL OTHER: 11,707,123 X X X X X X true MossRoss Fundraising Consultants false 40534 40534 All States FIRST PITCH 27633 17893 9740 30497 0 27633 17893 9740 30497 30497 -20757 true UNC CHAPEL HILL 104 AIRPORT DRIVE CHAPEL HILL NC 27599 566001393 GOVT 28408782 BOOK N/A SEE PART IV 1 FORM 990, SCH I, PART I, LINE 2 MONITORING THE USE OF GRANT FUNDS GRANTS MADE BY THE ORGANIZATION WERE MADE TO A PUBLIC CHARITY FOR USE IN ITS EXEMPT MISSION. ACCORDINGLY, THE ORGANIZATION EXPECTS THE CHARITY TO USE THE FUNDS FOR PROPER PURPOSES, AND AS SUCH, DOES NOT SUBSEQUENTLY MONITOR THE GRANT. FORM 990, SCH I, PART II, LINE I(h) PURPOSE OF GRANT OR ASSISTANCE SCHOLARSHIPS, CONSTRUCTION, AND OTHER FINANCIAL ASSISTANCE. X X X true true X X X X false true false true false false false false false JOHN MONTGOMERY EXECUTIVE DIRECTOR 388955 26676 6231 29212 17656 468730 DIANE ALDRIDGE CFO & GENERAL COUNSEL 168000 11057 6497 10425 15035 211014 DAWN MCPHERSON CHIEF OPERATING OFFICER 159401 5305 6497 11809 18819 201831 TIM SMITH DEPUTY DIRECTOR 182320 13506 2016 11500 10068 219410 KEN MACK ASSOC EXEC DIRECTOR LEAD GIFTS 181313 12625 2076 13696 15982 225692 MATT TERRELL CHIEF STRATEGY & COMM OFFICER 139281 5200 6497 11920 11811 174709 SUE W STANKAVAGE ASSOC EXEC DIR SCHOLARSHIP 145227 18292 6497 11583 16678 198277 SETH REEVES MAJOR GIFTS DIRECTOR 132990 8844 6497 10269 9576 168176 ERIC MONTROSS MAJOR GIFTS DIRECTOR 126009 12460 6497 8696 592 154254 FORM 990, SCH J, PART I, LINE 1A WRITTEN POLICY FOR COMPENSATION CHARTER TRAVEL, TRAVEL FOR COMPANIONS, AND CLUB DUES MAY BE PROVIDED BY THE ORGANIZATION TO CERTAIN MEMBERS OF ITS SENIOR STAFF. ALL TRAVEL PAID FOR BY THE ORGANIZATION OR REIMBURSED TO EMPLOYEES UNDER THE ACCOUNTABLE PLAN IS CONSIDERED TO HAVE A BUSINESS PURPOSE. ANY INDIVIDUAL LISTED ON FORM 990, PART VII MAY HAVE RECEIVED CHARTER TRAVEL OR TRAVEL FOR COMPANIONS. ALL SUCH TRAVEL WAS ASSOCIATED WITH THE ORGANIZATION'S CHARITABLE MISSION AND WAS NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. CERTAIN MEMBERS OF ITS SENIOR STAFF RECEIVED CLUB DUES. THE USE OF SOCIAL CLUB MEMBERSHIPS FOR BUSINESS PURPOSES ARE NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. HOWEVER, THE PORTION RELATED TO PERSONAL USE OF SOCIAL CLUB MEMBERSHIPS IS TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. FORM 990, SCH J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS THE EDUCATIONAL FOUNDATION, INC. MAINTAINS A NONQUALIFIED RETIREMENT PLAN TO PROVIDE SUPPLEMENTAL RETIREMENT BENEFITS FOR CERTAIN EMPLOYEES. THE FOLLOWING INDIVIDUALS PARTICIPATED IN OR RECEIVED PAYMENT FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: DAWN MCPHERSON $0 (PARTICIPATION) SUSAN STANKAVAGE $0 (PARTICIPATION) FORM 990, SCH J, PART I, LINE 5A INCENTIVE COMPENSATION PLAN THE EDUCATIONAL FOUNDATION, INC. MAINTAINS AN INCENTIVE COMPENSATION PLAN COVERING ELIGIBLE EMPLOYEES. THE PLAN IS FORMULA DRIVEN, TRIGGERED BY REACHING FUNDRAISING GOALS ON ANNUAL FUND REVENUES/MEMBERSHIP DUES. A Public Finance Authority Series 2019 273866124 2019-03-21 92000000 Educational Facilities Revenue Bon false false false A 0 0 92000000 0 0 0 248280 0 0 0 77803706 13948014 2020 false true false true A false false false 0 false false false true A false true false false true false 0 false 0 false true A true X 205 4311671 FMV X 2 299168 FMV X Car Dealer Credits 46 840000 FMV X AIRLINE SERVICES 12 916959 FMV X FURNITURE/EQUIPMENT/SVCS 3 42940 FMV X EVENT HOSTS 2 10854 fmv false true true FORM 990, SCH M, QUESTION 32A USE OF THIRD PARTIES THE EDUCATIONAL FOUNDATION, INC. USES THIRD PARTY STOCKBROKERS TO PROCESS NON-CASH PUBLICLY TRADED STOCK CONTRIBUTIONS. ADDITIONALLY, THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL PROCESSES GIFTS OF REAL PROPERTY AND GIFTS OF COMPLEX BUSINESS INTERESTS DESIGNATED FOR THE EDUCATIONAL FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE ORGANIZATION MEMBERSHIP IN THE FOUNDATION SHALL CONSIST OF NATURAL PERSONS OR AUTHORIZED LEGAL ENTITIES WHO MAKE FINANCIAL CONTRIBUTIONS TO THE FOUNDATION AND SUBSCRIBE TO THE PURPOSES AND OBJECTIVES OF THE FOUNDATION. A CORPORATION, PARTNERSHIP OR AUTHORIZED LEGAL ENTITY OTHER THAN A NATURAL PERSON WHO MAKES FINANCIAL CONTRIBUTIONS TO THE FOUNDATION MUST DESIGNATE A NATURAL PERSON OR NATURAL PERSONS AS A MEMBER OR MEMBERS. CONTRIBUTIONS TO THE FOUNDATION SHALL BE OPEN TO ALL PERSONS INTERESTED IN THE AFFAIRS OF THE FOUNDATION REGARDLESS OF RACE, CREED, COLOR, OR RELIGIOUS BELIEFS. FORM 990, PART VI, LINE 11B BOARD REVIEW OF FORM 990 DURING APRIL OF 2021, MANAGEMENT DISTRIBUTED A DRAFT OF THE 2019 FORM 990 TO THE AUDIT COMMITTEE AND GAVE THE MEMBERS AN OPPORTUNITY TO PROVIDE COMMENTS AND ASK QUESTIONS WITH RESPECT TO THE DRAFT. PRIOR TO FINALIZATION OF THE RETURN, MANAGEMENT PROVIDED A FINALIZED DRAFT, VIA E-MAIL, TO ALL MEMBERS OF THE EXECUTIVE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, QUESTION 12C CONFLICT OF INTEREST POLICY THE EDUCATIONAL FOUNDATION, INC. HAS A CONFLICT OF INTEREST POLICY. IT IS THE RESPONSIBILITY OF EACH BOARD MEMBER TO ANNUALLY NOTIFY THE FOUNDATION OF ANY POTENTIAL CONFLICTS. THE ORGANIZATION'S ANNUAL NOTIFICATION PROCESS SERVES AS ITS PROCESS FOR MONITORING POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, QUESTION 15 COMPENSATION REVIEW THE EDUCATION FOUNDATION, INC.'S BOARD OF DIRECTORS DESIGNATED THE COMPENSATION COMMITTEE TO BE RESPONSIBLE FOR ESTABLISHING COMPENSATION PRACTICES WHICH ARE REASONABLE AND DO NOT VIOLATE THE PRIVATE INUREMENT PROHIBITION. THE PRACTICES AND PROCESSES ARE DESIGNED TO AVOID ANY CLAIM FOR INTERMEDIATE SANCTIONS AND TO SATISFY THE REQUIREMENTS TO OBTAIN THE REBUTTABLE PRESUMPTION. THE COMPENSATION COMMITTEE REVIEWS OUTSIDE, INDEPENDENT DATA TO ESTABLISH THE COMPENSATION OF OUR OFFICERS OTHER THAN THE CEO. THE BOARD OF DIRECTORS REVIEW AND SET FORTH THE COMPENSATION FOR THE CEO USING THE SAME PROCESS AS THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, QUESTION 17 States where a copy of the Form 990 is filed. An outside law firm handles our compliance with charitable solicitation licensing requirements nationwide & files a copy of the organizations Form 990 where required. FORM 990, PART VI, SECTION C, QUESTION 19 GOVERNING DOCUMENTS THE EDUCATION FOUNDATION, INC. DOES NOT MAKE ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE ORGANIZATION'S FORM 990 IS PUBLICLY AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 OTHER CHANGE IN NET ASSETS CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $(1,779,139) FORM 990, PART VI, QUESTION 2 BUSINESS RELATIONSHIPS CHRIS SMITH AND TOM MANN HAVE A BUSINESS RELATIONSHIP. THE EDUCATIONAL FOUNDATION SCHOLARSHIP 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 566094839 SUPPORTING OR NC 501(C)(3) 12a Edu Fdn true CHARITABLE REMAINDER UNITRUSTS (8) 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 CHAR TRUST NC NA Trust false false false true false false false false false false false false false false true true false false false false THE EDUCATIONAL FDN SCHOLARSHIP END TRUST C 11737620 FMV