2015-05-12T10:27:02-05:00 2014-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2013-07-01 566058412 The Educational Foundation Inc % DIANE S ALDRIDGE EDUC 9198432000 450 Skipper Bowles Drive Suite Chapel Hill NC 27599 DIANE S ALDRIDGE DIRECTOR OF FINANCE 9198432000 2015-05-08 true ALLISON H FRANKLIN P00448640 9198432000 2013 2016-04-25 22:37:26Z Diane S Aldridge 450 Skipper Bowles Drive Chapel Hill NC 27599 35458954 false X www.ramsclub.com X 1938 NC THE CORPORATION OPERATES SOLELY TO ASSIST THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL IN PROVIDING FINANCIAL ASSISTANCE TO STUDENTS AND PROGRAMS AT THE UNIVERSITY. 21 21 28 200 0 0 26580373 33709963 0 0 1643305 1736506 -9389 -8103 28214289 35438366 79350446 15768846 0 0 2132981 2694408 2379 1220 2329718 10335353 7505686 91821159 25970160 -63606870 9468206 77980114 85649541 67832417 62827071 10147697 22822470 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 14249330 11920890 CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL: CONTRIBUTIONS TO UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL TO PROVIDE FINANCIAL ASSISTANCE TO STUDENT ATHLETES NORTH CAROLINA AT CHAPEL HILL TO PROVIDE FINANCIAL ASSISTANCE TO STUDENT ATHLETES 4735354 3571134 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. 2605262 276822 CONSTRUCTION/RENOVATION OF ATHLETIC FACILITIES: CONSTRUCTION OF $3.6M CLUBHOUSE AT FINLEY GOLF COURSE. CONSTRUCTION OF NEW VIDEOBOARD AT BASEBALL STADIUM. 21589946 true true false false false false false false false true true true false true true true 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 24 0 true 28 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 X X 0 0 0 LOWRY CAUDILL VICE CHAIR X 0 0 0 MARVIN CARVER PAST CHAIR X X 0 0 0 MILT PETTY TREASURER X X 0 0 0 JAY KLOMPMAKER SECRETARY X X 0 0 0 BOB EUBANKS EXECUTIVE BOARD MEMBER X 0 0 0 BRAD BURRIS EXECUTIVE BOARD MEMBER X 0 0 0 TOM CHEWNING EXECUTIVE BOARD MEMBER X 0 0 0 MUNROE COBEY EXECUTIVE BOARD MEMBER X 0 0 0 ALLEN WILSON EXECUTIVE BOARD MEMBER X 0 0 0 WILLIAM FULLER EXECUTIVE BOARD MEMBER X 0 0 0 ANN PETERSEN EXECUTIVE BOARD MEMBER X 0 0 0 DON HOLZWORTH EXECUTIVE BOARD MEMBER X 0 0 0 GREG SANCHEZ EXECUTIVE BOARD MEMBER X 0 0 0 DON CURTIS EXECUTIVE BOARD MEMBER X 0 0 0 LAURA EDWARDS EXECUTIVE BOARD MEMBER X 0 0 0 TODD POPE EXECUTIVE BOARD MEMBER X 0 0 0 STEVE VETTER EXECUTIVE BOARD MEMBER X 0 0 0 FRANK BRENNER EXECUTIVE BOARD MEMBER X 0 0 0 STONEY SELLARS EXECUTIVE BOARD MEMBER X 0 0 0 BUBBA CUNNINGHAM EX-OFFICIO EXEC BOARD MEMBER X 0 0 0 LISSA BROOME EX-OFFICIO EXEC BOARD MEMBER X 0 0 0 DIANE ALDRIDGE DIRECTOR OF FINANCE 40.0 X 129687 0 0 DAWN MCPHERSON DIRECTOR OF ADMINISTRATION 40.0 X 136008 0 0 JOHN MONTGOMERY EXECUTIVE DIRECTOR 40.0 X 304135 0 0 KEN MACK DIRECTOR OF MAJOR GIFTS 40.0 X 146217 0 0 SUE W STANKAVAGE DIRECTOR OF ENDOWMENT 40.0 X 123100 0 0 TIM SMITH MAJOR GIFT OFFICER 40.0 X 108875 0 0 948022 0 0 6 false true true Fieldturf USA INC 175 North Industrial Blvd CALHOUN GA 30701 GENERAL CONTRACTOR 438624 Overtime Aviation Company Inc 4909 Western Boulevard Suite 200 RALEIGH NC 27606 Airline Services 366161 The Resolute Building Co PO BOX 3656 CHAPEL HILL NC 27515 General Contractor 198625 Daniel J Edelman Inc 21992 Network Pl CHICAGO IL 60673 COMM. CONSUILTING 177178 Rotman Architecture 700 Glenwood Ave RALEIGH NC 27605 OWNER REPRESENTATIVE 126209 5 10966466 31645 9560990 13150862 3358294 33709963 0 39582 39582 0 0 0 0 0 1696924 1696924 1696924 1696924 12485 31645 20588 -8103 -8103 0 0 0 35438366 1728403 15768846 15768846 0 0 0 300978 172701 128277 0 2071755 1188773 882982 162348 93155 69193 0 159327 91422 67905 0 8114 8114 125390 125390 0 1220 1220 195628 195628 113082 113082 471133 471133 208594 20859 187735 77441 7744 69697 0 246700 27359 219341 252919 28049 224870 0 63230 7012 56218 461984 461984 0 38642 34778 3864 81274 81274 SPECIAL EVENTS 120323 120323 Game Day Expenses 1753716 876858 876858 Bad Debt Expenses 2712172 2712172 Complimentary tickets 379150 379150 196194 160654 54935 -19395 25970160 21589946 2050496 2329718 0 0 24167354 26199792 17559467 16939110 0 0 0 0 0 0 0 0 0 0 593984 405283 577808 463867 152547 113941 52396 0 30333968 36280283 0 0 0 0 5120398 5711132 77980114 85649541 1932178 2385723 0 0 967930 891444 0 0 0 0 0 0 0 0 40051821 35398299 24880488 24151605 67832417 62827071 X -22127061 -15345374 10593742 14638753 21681016 23529091 10147697 22822470 77980114 85649541 9468206 3206567 X false true X true false X 27145697 41532452 33956252 26580373 33709963 162924737 0 0 27145697 41532452 33956252 26580373 33709963 162924737 0 162924737 271704 219956 182546 106327 39582 820115 0 0 163744852 0.99499 0.93650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22438163 1526708 3580544 963066 26582349 19486335 1323474 2108929 480575 22438163 18475137 1522142 -43942 467002 19486335 16070831 564929 2422031 582654 18475137 14897223 660490 969400 456282 16070831 0.77804 0.22196 false false 577808 463867 113941 113941 CERTIFICATE OF DEPOSIT 262316 F UNC CH FDN INV. FUND, INC. 35772064 F OTHER EQUITY INVESTMENTS 245903 F 36280283 CASH SURRENDER VALUE LIFE INS. 1776639 SPLIT INTEREST AGREEMENTS 3934493 5711132 0 PAYABLES TO UNC CH 23313754 RETIREMENT AND OTHER BENEFITS 837851 24151605 X 29104531 3206567 3206567 25897964 9540402 9540402 35438366 16429758 16429758 9540402 9540402 25970160 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 XII AND XIII, LINES 4B - OTHER SPECIAL EVENT EXPENSE RECLASS SPECIAL EVENT EXPENSE RECLASS: -20,588 TRANSFER FROM THE EDUCATIONAL FOUNDATION SCHOLARSHIP ENDOWMENT TRUST TO THE UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL: 9,560,990 TOTAL OTHER: 9,540,402 Form Sch D Part X FIN 48 DISCLOSURE THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER INTERNAL REVENUE CODE 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. MANAGEMENT OF THE FOUNDATION DOES NOT BELIEVE THE FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. TAX YEARS ENDED JUNE 30, 2011 THROUGH JUNE 30, 2014 REMAIN OPEN FOR EXAMINATION BY TAXING AUTHORITIES AS OF THE DATE OF THIS REPORT. FIRST PITCH 44130 31645 12485 16805 2176 1607 0 44130 31645 12485 16805 2176 1607 20588 -8103 true UNC CHAPEL HILL 104 AIRPORT DRIVE CHAPEL HILL NC 27599 566001393 GOVT 15768846 BOOK N/A SEE PART IV 1 Form 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 Sch I Part II Line 1(h) PURPOSE OF GRANT OR ASSISTANCE SCHOLARSHIPS, CONSTRUCTION, AND OTHER FINANCIAL ASSISTANCE. X X X true true X X X false true false false false false false false false JOHN MONTGOMERY EXECUTIVE DIRECTOR 280283 0 23852 23143 8565 335843 0 0 0 FORM 990, PART VII, LINE 5 AND SCHEDULE J PART II ACCRUED COMPENSATION FROM JANUARY 1, 2013 TO JUNE 30, 2013, THE ORGANIZATION EMPLOYEES RECEIVED COMPENSATION AND BENEFITS FROM THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL (THE UNIVERSITY), AN UNRELATED ORGANIZATION PER FORM 990 INSTRUCTIONS. SUCH COMPENSATION AND BENEFITS ARE INCLUDED IN THE RETURN. COMPENSATION AND BENEFITS PAID BY THE UNIVERSITY TO EMPLOYEES OF THE ORGANIZATION ARE REIMBURSED BY THE ORGANIZATION TO THE UNIVERSITY. Form 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 IS 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 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) X 169 2047123 FMV X 6 42051 FMV X Car Dealer Credits 96 1025000 FMV X AIRLINE SERVICES 5 64120 FMV false true true FORM 990, SCHEDULE 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 MAY OF 2015, MANAGEMENT DISTRIBUTED A DRAFT OF THE 2013 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 Line 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 Line 15b 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 AND KEY EMPLOYEES. 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 Line 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 VII Line Section A Line 5 ACCRUED COMPANSATION FROM JANUARY 1, 2013 TO JUNE 30, 2013, THE ORGANIZATION EMPLOYEES RECEIVED COMPENSATION AND BENEFITS FROM THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL (THE UNIVERSITY), AN UNRELATED ORGANIZATION PER FORM 990 INSTRUCTIONS. SUCH COMPENSATION AND BENEFITS ARE INCLUDED IN THE RETURN. COMPENSATION AND BENEFITS PAID BY THE UNIVERSITY TO EMPLOYEES OF THE ORGANIZATION ARE REIMBURSED BY THE ORGANIZATION TO THE UNIVERSITY. 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 9560990 FMV