2017-05-12T11:19:00-05:00 2016-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2015-07-01 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 2017-05-10 true ALLISON H FRANKLIN P00448640 3362753394 2015 2021-01-29 14:40:06Z JOHN MONTGOMERY 450 Skipper Bowles Drive Chapel Hill NC 27599 46568469 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 45 200 0 0 36855021 44431828 0 0 1845085 2109993 -10715 5022 38689391 46546843 18084978 21795198 0 0 3176254 3427150 0 85822 2678125 9223252 7244974 30484484 32553144 8204907 13993699 89743664 97109790 57241776 53657988 32501888 43451802 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 16765316 14544828 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. 5055907 3945663 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. 5525195 3304707 Renovation of Mens Basketball locker rooms for players, coaches and staff, players lounge and therapy rooms. Completion of construction of new Indoor Softball Hitting Facility, New Volleyball Locker Room, and Renovation of the Gymnastics Practice Facility. Planning and design costs for upcoming athletic facility projects. 27346418 true true false false false false false false false true true true false true true false true false false false false false false true true false false true false true false false false false false false false false true false false false false true true true false false true 35 0 true 45 true false false false false false true true 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 LOWRY CAUDILL CHAIR 0.0 0.0 X X 0 0 0 TODD POPE VICE CHAIR 0.0 0.0 X X 0 0 0 DWIGHT STONE PAST CHAIR 0.0 0.0 X X 0 0 0 MILT PETTY TREASURER 0.0 0.0 X X 0 0 0 JAY KLOMPMAKER 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 TOM CHEWNING EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 MUNROE COBEY EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 ALLEN WILSON EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 DAVID ROUTH EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 DON CURTIS EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 TOM MANN EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 STEVE VETTER EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 LEN WHITE EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 FRANK BRENNER EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 STONEY SELLARS EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 CATHY CARTER MORRIS EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 RALPH TEAL 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 DIANE ALDRIDGE CFO & GENERAL COUNSEL 40.0 0.0 X 143980 0 22892 DAWN MCPHERSON CHIEF OPERATING OFFICER 40.0 0.0 X 143403 0 22892 JOHN MONTGOMERY EXECUTIVE DIRECTOR 40.0 0.0 X 348930 0 34367 KEN MACK DIRECTOR OF PRINCIPAL GIFTS 40.0 0.0 X 155503 0 25029 SUE W STANKAVAGE DIRECTOR OF ENDOWMENT 40.0 0.0 X 127823 0 21998 MATT TERRELL DIR OF EXTERNAL OPERATIONS 40.0 0.0 X 139948 0 22807 GARY BURNS MAJOR GIFT OFFICER 40.0 0.0 X 115421 0 20128 TIM SMITH DIR OF CAPITAL CAMPAIGNS 40.0 0.0 X 135239 0 24217 1310247 0 194330 8 false true false VISION CONTRACTORS INC PO BOX 41586 RALEIGH NC 27629 GENERAL CONTRACTOR 905711 UNC FACILITIES CAPITAL BUSINESS OFF CB 1805 GILES F HORNEY BUILDING CHAPEL HILL NC 275991805 CONSTRUCTION 462959 OVERTIME AVIATION COMPANY INC 4909 WESTERN BOULEVARD SUITE 200 RALEIGH NC 27606 AIRLINE SERVICES 438688 UNC CH DEPT OF PUBLIC SAFETY CB 1600 285 MANNING DR CHAPEL HILL NC 275991600 GAME DAY PARKING 312260 TOBACCO ROAD MEDIA INCTAR HEEL MON 503 MEADOWMONT LANE CHAPEL HILL NC 27517 PUBLISH/AIRLINE SVCS 181250 7 12987549 22005 10137519 21284755 3262851 44431828 0 44823 44823 0 0 0 0 0 2065170 2065170 2065170 2065170 26648 22005 21626 5022 5022 0 0 0 46546843 2115015 21795198 21795198 0 0 0 636313 365116 271197 0 2396000 1374825 1021175 211805 121534 90271 0 183032 105024 78008 0 18938 18938 123385 123385 0 85822 85822 219428 219428 209153 154773 33465 20915 531310 531310 268046 26805 241241 115981 11598 104383 0 246700 27359 219341 466581 51744 414837 0 116645 12936 103709 345257 345257 0 65205 58684 6521 93797 93797 SPECIAL EVENTS 139390 80507 0 58883 GAME DAY EXPENSES 1625362 812681 0 812681 BAD DEBT EXPENSES 1050868 1050868 0 0 COMPLIMENTARY TICKETS 430627 0 0 430627 1178301 1043548 134753 32553144 27346418 2528601 2678125 0 0 26936199 24702519 13924004 23334992 0 0 0 0 0 0 0 0 0 0 1152664 1821769 708219 550450 154002 157769 0 0 42085062 41856673 0 0 0 0 5491733 5236068 89743664 97109790 2737819 3394162 0 0 887081 855886 0 0 0 0 0 0 0 0 30240327 28216482 23376549 21191458 57241776 53657988 X -11367170 -11570634 16535065 21959214 27333993 33063222 32501888 43451802 89743664 97109790 13993699 -3043785 X false true X true false X 33956252 26580373 33709963 36855021 44458476 175560085 0 0 33956252 26580373 33709963 36855021 44458476 175560085 1379901 174180184 182546 106327 39582 21044 44823 394322 0 0 175954407 0.98992 0.96190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31614169 2386276 -792941 1382780 31824724 26582349 3646194 2658890 1273264 31614169 22438163 1526708 3580544 963066 26582349 19486335 1323474 2108929 480575 22438163 18475137 1522142 -43942 467002 19486335 0.00000 0.83940 0.16060 true false 708219 550450 157769 157769 CERTIFICATE OF DEPOSIT 262841 F UNC CH FDN INV. FUND, INC. 41379587 F OTHER EQUITY INVESTMENTS 214245 F 41856673 CASH SURRENDER VALUE LIFE INS. 1901404 SPLIT INTEREST AGREEMENTS 3334664 5236068 0 PAYABLES TO UNC CH 20366898 RETIREMENT AND OTHER BENEFITS 824560 21191458 33387165 -3043785 -3043785 36430950 10115893 10115893 46546843 22437251 22437251 10115893 10115893 32553144 FORM 990, SCHEDULE D, PART V, LINE 4 INTENDED USES OF THE 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, PARTS XI AND XII, LINES 4B-OTHER SPECIAL EVENT EXPENSE RECLASS: (21,626) TRANSFER FROM THE EDUCATIONAL FOUNDATION SCHOLARSHIP ENDOWMENT TRUST TO THE UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL: 10,137,519 TOTAL OTHER: 10,115,893 X X X X X X true MossRoss 1536 Carr Street Raleigh NC 27608 Fundraising Consultants false 84541 84541 All States FIRST PITCH 48653 22005 26648 21626 0 48653 22005 26648 21626 21626 5022 true UNC CHAPEL HILL 104 AIRPORT DRIVE CHAPEL HILL NC 27599 566001393 GOVT 21795198 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 DIANE ALDRIDGE CFO & GENERAL COUNSEL 129983 0 7500 0 6497 0 12375 0 10517 0 166872 0 0 0 DAWN MCPHERSON CHIEF OPERATING OFFICER 129406 0 7500 0 6497 0 12375 0 10517 0 166295 0 0 0 JOHN MONTGOMERY EXECUTIVE DIRECTOR 307993 0 37200 0 3737 0 23850 0 10517 0 383297 0 0 0 KEN MACK DIRECTOR OF PRINCIPAL GIFTS 135704 0 16538 0 3261 0 14512 0 10517 0 180532 0 0 0 MATT TERRELL DIR OF EXTERNAL OPERATIONS 114485 0 18966 0 6497 0 12290 0 10517 0 162755 0 0 0 TIM SMITH DIR OF CAPITAL CAMPAIGNS 117577 0 15480 0 2182 0 13700 0 10517 0 159456 0 0 0 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. X 172 2085900 FMV X 8 193347 FMV X Car Dealer Credits 49 705750 FMV X AIRLINE SERVICES 16 244437 FMV X KITCHEN EQUIPMENT 1 10018 FMV X FURNITURE/EQUIPMENT 2 21799 FMV X FOOTBALL HELMET 1 1600 FMV 0 false true true FORM 990, SCH M, QUESTION 32A USE OF THIRD PARTIES THE EDUCATIONAL FOUNDATION, INC. USES THIRD PARTY STOCK BROKERS TO PROCESS NON-CASH publicly-traded stock CONTRIBUTIONS. 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 MAY OF 2017, MANAGEMENT DISTRIBUTED A DRAFT OF THE 2015 FORM 990 TO THE AUDIT COMMITTEE AND GAVE THE MEMBERS AN OPPORTUNITY TO PROVIDE COMMENTS AND ASK QUESTIONS WITH RESPECT TO THE DRAFT. BASED ON FEEDBACK PROVIDED FROM THE AUDIT COMMITTEE, MANAGEMENT UPDATED THE DRAFT FORM 990. 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 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 VI, SECTION A, LINE 2 BUSINESS RELATIONAHIPS CHRIS SMITH AND TOM MANN, EXECUTIVE BOARD MEMBERS, HAVE A BUSINESS RELATIONSHIP. THE EDUCATIONAL FOUNDATION SCHOLARSHIP 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 566094839 SUPPORTING OR NC 501(C)(3) 11 NA true CHARITABLE REMAINDER UNITRUSTS (4) 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 CHAR TRUST NC NA Trust 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 10137519 FMV