2016-05-02T11:35:20-05:00 2015-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2014-07-01 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 2016-05-02 true ALLISON H FRANKLIN CPA P00448640 3362753394 2016-04-22 2014 2016-08-17 19:52:53Z JOHN MONTGOMERY 450 Skipper Bowles Drive Chapel Hill NC 27599 38710671 false X www.ramsclub.com X 1938 NC THE CORPORATION OPERATES SOLELY TO ASSIST THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL IN PROVIDING SCHOLARSHIP ASSISTANCE TO STUDENTS AND PROGRAMS AT THE UNIVERSITY. 21 21 39 200 0 0 33709963 36855021 0 0 1736506 1845085 -8103 -10715 35438366 38689391 15768846 18084978 0 0 2694408 3176254 1220 0 2664273 7505686 9223252 25970160 30484484 9468206 8204907 85649541 89743664 62827071 57241776 22822470 32501888 X THE EDUCATIONAL FOUNDATION, INC. WAS CHARTERED DECEMBER 7, 1938 TO PROVIDE ASSISTANCE TO THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL FOR THE FOLLOWING: TO OFFER FINANCIAL AID TO WORTHY YOUNG MEN AND WOMEN SEEKING AN EDUCATION AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL, TO SUPPORT UNIVERSITY PROGRAMS BY PROVIDING SERVICES AND FUNDS FOR THE CONSTRUCTION OF FACILITIES OR PURCHASE OF EQUIPMENT, AND TO OPERATE AND CARRY OUT ALL OTHER PROGRAMS, ACTIVITIES AND ENDEAVORS FOR CHARITABLE, EDUCATIONAL, LITERARY, RELIGIOUS AND SCIENTIFIC PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954 AS AMENDED. false false 15933990 13176640 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. 5067340 3688666 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. 3977022 1219672 A NEW INDOOR SOFTBALL HITTING FACILITY. CONSTRUCTION OF NEW VOLLEYBALL LOCKER ROOM AND RENOVATION OF THE GYMNASTICS PRACTICE FACILITY. 24978352 true true false false false false false false false true true true false true true false true false false false false false false false 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 28 0 true 39 true false false false false false true true false false false false X 21 21 false 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 DWIGHT STONE CHAIR 0.0 0.0 X X 0 0 0 W LOWRY CAUDILL VICE CHAIR 0.0 0.0 X X 0 0 0 MARVIN CARVER 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 BRAD BURRIS 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 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 DON HOLZWORTH EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 GREG SANCHEZ EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 DON CURTIS EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 LAURA EDWARDS EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 TODD POPE EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 STEVE VETTER 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 DAVID ROUTH EXECUTIVE BOARD MEMBER 0.0 0.0 X 0 0 0 DIANE ALDRIDGE CFO & GENERAL COUNSEL 40.0 0.0 X 129262 0 19102 DAWN MCPHERSON Chief Operating Officer 40.0 0.0 X 134511 0 21170 JOHN MONTGOMERY EXECUTIVE DIRECTOR 40.0 0.0 X 306556 0 31449 KEN MACK DIRECTOR OF PRINCIPAL GIFTS 40.0 0.0 X 136573 0 22599 SUE W STANKAVAGE DIRECTOR OF ENDOWMENT 40.0 0.0 X 119482 0 18145 Matt Terrell Dir of External Operations 40.0 0.0 X 127325 0 21182 Eric Montross Major Gift Officer 40.0 0.0 X 100287 0 16091 TIM SMITH MAJOR GIFT OFFICER 40.0 0.0 X 120010 0 20138 1174006 0 169876 8 false true false Vision Contractors Inc PO Box 41586 RALEIGH NC 27629 GENERAL CONTRACTOR 415524 UNC CH Dept of Public Safety CB 1600 285 Manning Dr CHAPEL HILL NC 27599 GAME DAY PARKING 334887 Overtime Aviation Company Inc 4909 Western Boulevard Suite 200 RALEIGH NC 27606 AIRLINE SERVICES 307787 Rotman Architecture 700 GLENWOOD AVE RALEIGH NC 27605 OWNER REPRESENTATIVE 210946 Tobacco Road Media IncTAR HEEL MON 503 MEADOWMONT LANE CHAPEL HILL NC 27517 PUBLISHING SERVICES 204500 6 13740704 46920 9853034 13214363 3736473 36855021 0 21044 21044 0 0 0 0 0 1824041 1824041 1824041 1824041 10565 46920 21280 -10715 -10715 0 0 0 38689391 1834370 18084978 18084978 0 0 0 642050 368409 273641 0 2164495 1241987 922508 192360 110376 81984 0 177349 101763 75586 0 19807 19807 120620 120620 0 0 249783 249783 89691 89691 538538 538538 549738 54974 494764 96087 9609 86478 0 246700 27359 219341 303564 33665 269899 0 75891 8416 67475 370561 370561 0 51832 46649 183 87481 87481 SPECIAL EVENTS 112481 112481 GAME DAY EXPENSES 2188388 1094194 1094194 BAD DEBT EXPENSES 2704496 2704496 COMPLIMENTARY TICKETS 361915 361915 1055679 790356 264893 430 30484484 24978352 2836859 2664273 0 0 26199792 26936199 16939110 13924004 0 0 0 0 0 0 0 0 0 0 405283 1152664 648960 494958 113941 154002 0 0 36280283 42085062 0 0 0 0 5711132 5491733 85649541 89743664 2385723 2737819 0 0 891444 887081 0 0 0 0 0 0 0 0 35398299 30240327 24151605 23376549 62827071 57241776 X -15345374 -11367170 14638753 16535065 23529091 27333993 22822470 32501888 85649541 89743664 8204907 1474511 X false true X true false X 41532452 33956252 26580373 33709963 36855021 172634061 0 0 41532452 33956252 26580373 33709963 36855021 172634061 6024814 166609247 219956 182546 106327 39582 21044 569455 0 0 173203516 0.96193 0.99499 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26582349 3646194 2658890 1273264 31614169 22438163 1526708 3580544 963066 26582349 19486335 1323474 2108929 480575 22438163 18475137 1522142 -43942 467002 19486335 16070831 564929 2422031 582654 18475137 0.23046 0.76954 false false 648960 494958 154002 154002 CERTIFICATE OF DEPOSIT 262579 F UNC CH FDN INV. FUND, INC. 41556933 F OTHER EQUITY INVESTMENTS 265550 F 42085062 CASH SURRENDER VALUE LIFE INS. 1845538 SPLIT INTEREST AGREEMENTS 3646195 5491733 0 PAYABLES TO UNC CH 22546896 RETIREMENT AND OTHER BENEFITS 829653 23376549 30332148 1474511 1474511 28857637 9831754 9831754 38689391 20652730 20652730 9831754 9831754 30484484 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. FOR 990, SCHEDULE D, PARTS XI, AND XII, LINES 4B-OTHER SPECIAL EVENT EXPENSE RECLASS SPECIAL EVENT EXPENSE RECLASS: -21,280 TRANSFER FROM THE EDUCATIONAL FOUNDATION SCHOLARSHIP ENDOWMENT TRUST TO THE UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL: 9,853,034 TOTAL OTHER: 9,831,754 FIRST PITCH 57485 46920 10565 17171 2480 1629 0 57485 46920 10565 17171 2480 1629 21280 -10715 true UNC CHAPEL HILL 104 AIRPORT DRIVE CHAPEL HILL NC 27599 566001393 GOVT 18084978 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 DAWN MCPHERSON Chief Operating Officer 117142 0 10872 0 6497 0 11496 0 9674 0 155681 0 0 0 KEN MACK DIRECTOR OF PRINCIPAL GIFTS 124949 0 10304 0 1320 0 12925 0 9674 0 159172 0 0 0 JOHN MONTGOMERY EXECUTIVE DIRECTOR 282217 0 22457 0 1882 0 23400 0 8049 0 338005 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 PURPOSES. 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 221 2774252 FMV X 9 202309 FMV X Car Dealer Credits 47 626000 FMV X AIRLINE SERVICES 6 71360 FMV X KITCHEN EQUIPMENT 1 44852 FMV X VIDEO SERVICES 3 17000 FMV X FRAMED SWEATSHIRT 1 700 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 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 APRIL OF 2016, MANAGEMENT DISTRIBUTED A DRAFT OF THE 2014 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. 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 (5) 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 true true false false false false THE EDUCATIONAL FDN SCHOLARSHIP END TRUST C 9853034 FMV