2014-04-28T16:02:50-05:00 2013-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2012-07-01 566058412 THE EDUCATIONAL FOUNDATION INC % DIANE S ALDRIDGE EDUC 9198432000 450 SKIPPER BOWLES DRIVE Suite CHAPEL HILL NC 27599 DIANE S ALDRIDGE 9198436408 2014-04-24 true 3362753394 2012 2015-11-30 17:44:51Z DIANE S ALDRIDGE 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 28235088 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 33956252 26580373 0 0 1607554 1643305 -5348 -9389 35558458 28214289 3913410 79350446 0 0 2157211 2132981 1975 2379 2197439 4463052 10335353 10535648 91821159 25022810 -63606870 165948030 77980114 93929047 67832417 72018983 10147697 X The corporation is organized and operated exclusively for charitable and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or any corresponding United States Internal Revenue Law (the "Code"). 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 68513662 65162630 CONSTRUCTION/RENOVATION OF ATHLETIC FACILITIES: COMPLETION OF CONSTRUCTION OF THE $70M LOUDERMILK CENTER FOR EXCELLENCE IN THE EAST END ZONE OF KENAN STADIUM AND CONTRIBUTION OF THE IMPROVEMENTS TO THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL. completion of CONSTRUCTION OF $3.6M CLUBHOUSE AT FINLEY GOLF COURSE. CONSTRUCTION OF NEW VIDEOBOARD AT BASEBALL STADIUM. 5279711 3604195 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, REPLACEMENT OF FOOTBALL PRACTICE FIELDS, TO PROVIDE ENHANCEMENT OF GAME DAY ACTIVITIES, AND OTHER VARIOUS FINANCIAL OBLIGATIONS OF THE UNIVERSITY. 13934652 10583621 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. 87728025 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 BOB EUBANKS X BRAD BURRIS X TOM CHEWNING X ALLEN WILSON X MARVIN CARVER X X MILT PETTY X X JAY KLOMPMAKER X X DWIGHT STONE X X WILLIAM FULLER X TODD POPE X JOHN D BLACK X W LOWRY CAUDILL X MUNROE G COBEY X RANDY MYER X ANN B PETERSEN X DON HOLZWORTH X GREG SANCHEZ X DON CURTIS X LAURA EDWARDS X BUBBA CUNNINGHAM X LISSA BROOME X STEVE VETTER X JOHN MONTGOMERY 40.0 X 230606 0 21063 DIANE ALDRIDGE 40.0 X 104569 0 17967 DAWN MCPHERSON 40.0 X 104590 0 22543 KEN MACK 40.0 X 115399 0 13051 MATT TERRELL 40.0 X 98500 0 11961 SUE W STANKAVAGE 40.0 X 94908 0 17111 KARLTON CREECH 40.0 X 108753 0 18576 TIM SMITH 40.0 X 85753 0 11322 NEAL HARRELL X 113315 0 25348 JOHN D CHERRY X 13252 0 0 MOYER G SMITH X 20272 0 0 1089917 0 158942 0 true true true TA LOVING POST OFFICE DRAWER 919 GOLDSBORO NC 27533 GENERAL CONTRACTOR 1937910 CORLEY REDFOOT ZACK PO BOX 2368 CHAPEL HILL NC 27515 ARCHITECTURAL DESIGN 239295 ROTMAN ARCHITECTURE 512 ST MARYS STREET SUITE 105 RALEIGH NC 27605 PROJECT MANAGEMENT 304060 THE RESOLUTE BUILDING COMPANY PO BOX 3656 CHAPEL HILL NC 27515 GENERAL CONTRACTOR 1854098 OVERTIME AVIATION COMPANY 4909 WESTERN BOULEVARD SUITE 200 RALEIGH NC 27606 AIRLINE SERVICES 410248 7 9923500 27215 9333684 7295974 3702967 26580373 0 106327 106327 0 0 0 0 0 1536978 1536978 1536978 1536978 11410 27215 20799 -9389 -9389 0 0 0 28214289 1633916 79350446 79350446 0 0 0 23337 13391 9946 45690 26217 19473 2038968 1169960 869008 0 0 24986 14337 10649 0 28668 28668 112335 112335 0 2379 2379 179111 179111 26015 26015 442332 442332 189640 18964 170676 83996 8400 75596 0 246700 27359 219341 238119 26407 211712 0 59531 6603 52928 701448 701448 0 40368 36331 4037 77957 77957 SCHOLARSHIPS/CAPITAL PROJECTS 2190201 2190201 GAME DAY EXPENSES 1575126 787563 787563 BAD DEBT EXPENSE 3269587 3269587 OTHER TAXES -25806 -25806 900025 141180 277661 481184 91821159 87728025 1895695 2197439 0 0 43367732 24167354 27848256 17559467 0 0 0 0 0 0 0 0 0 0 486073 593984 586610 434063 62502505 152547 51046 52396 26929661 30333968 0 0 0 0 4762757 5120398 165948030 77980114 2988073 1932178 0 0 999175 967930 0 0 0 0 0 0 0 0 64166304 40051821 25775495 24880488 93929047 67832417 X 38992278 -22127061 11974566 10593742 21052139 21681016 72018983 10147697 165948030 77980114 -63606870 1735584 X false true X true false X 17713556 27145697 41532452 33956252 26580373 146928330 0 0 17713556 27145697 41532452 33956252 26580373 146928330 7506968 139421362 1166846 271704 219956 182546 106327 1947379 0 0 148875709 0.93649 0.94089 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19486335 1323474 2108929 480575 22438163 18475137 1522142 -43942 467002 19486335 16070831 564929 2422031 582654 18475137 14897223 660490 969400 456282 16070831 18280236 942408 -3900899 424522 14897223 0.85370 0.14630 false false 586610 434063 152547 0 0 0 152547 CERTIFICATE OF DEPOSIT 261924 F UNC CH FDN INV. FUND, INC. 29867567 F OTHER EQUITY INVESTMENTS 204477 F 30333968 CASH SURRENDER VALUE LIFE INS. 1703459 SPLIT INTEREST AGREEMENTS 3416939 5120398 0 RETIREMENT AND OTHER BENEFITS 847194 PAYABLES TO UNC-CH 24033294 24880488 X 20636988 1735584 1735584 18901404 9312885 9312885 28214289 82508274 82508274 9312885 9312885 91821159 INTENDED USES OF THE ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 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. OTHER CHANGES IN REVENUE & EXPENSE FORM 990, SCHEDULE D, PARTS XII AND XIII, LINES 4B - OTHER SPECIAL EVENT EXPENSE RECLASS: (20,799) TRANSFER FROM THE EDUCATIONAL FOUNDATION SCHOLARSHIP ENDOWMENT TRUST TO THE UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL: 9,333,684 TOTAL: 9,312,885 FIN 48 DISCLOSURE FORM 990, SCHEDULE D, PART X, LINE 2 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, 2010 THROUGH JUNE 30, 2013 REMAIN OPEN FOR EXAMINATION BY TAXING AUTHORITIES AS OF THE DATE OF THIS REPORT. FIRST PITCH 38625 27215 11410 14859 2075 3865 0 38625 27215 11410 14859 2075 3865 20799 -9389 true UNC - CHAPEL HILL 104 Airport Dr CHAPEL HILL NC 27599 566001393 GOVT 7241784 62774978 BOOK CAPITAL PROJECT SEE PART IV UNC - CHAPEL HILL 104 AIRPORT DR CHAPEL HILL NC 27599 566001393 GOVT. 9333684 N/A N/A SEE PART IV 1 MONITORING THE USE OF GRANT FUNDS FORM 990, SCHEDULE I,PART I, QUESTION 2 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. PURPOSE OF GRANT OR ASSISTANCE SCHEDULE I, PART II, LINE I, COLUMN H 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 210391 0 0 0 20215 0 15980 0 5083 0 251669 0 0 0 NEAL HARRELL 79523 0 0 0 33792 0 23293 0 2055 0 138663 0 0 0 JOHN D CHERRY 13252 0 0 0 0 0 0 0 0 0 13252 0 0 0 MOYER G SMITH 20272 0 0 0 0 0 0 0 0 0 20272 0 0 0 WRITTEN POLICY FOR COMPENSATION FORM 990, SCHEDULE J, PART I, QUESTION 1A 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. SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS FORM 990, SCHEDULE J, PART I, QUESTION 4B 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 3,990 (PARTICIPATION) NEAL HARRELL 10,821 (PARTICIPATION THROUGH 6/30/12), 12,165 (PAYMENT AFTER 6/30/12) SUSAN STANKAVAGE 5,366 (PARTICIPATION) MOYER SMITH 20,272 (PAYMENT) JOHN CHERRY 13,252 (PAYMENT) ACCRUED COMPENSATION FORM 990, PART VII, LINE 5 AND SCHEDULE J PART II THE ORGANIZATION EMPLOYEES RECEIVE 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. X 175 3030180 FMV X 2 26858 FMV X CAR DEALER CREDITS 52 613000 FMV X AIRLINE SERVICES 1 15120 FMV X MISCELLANEOUS 1 9500 FMV X CONSTRUCTION MATERIALS 2 8309 FMV false true true USE OF THIRD PARTIES FORM 990, SCHEDULE M, QUESTION 32A THE EDUCATIONAL FOUNDATION, INC. USES THIRD PARTY STOCK BROKERS TO PROCESS NON-CASH CONTRIBUTIONS. MEMBERS OF THE ORGANIZATION FORM 990, PART VI, SECTION A, LINE 6 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. BOARD REVIEW OF FORM 990 FORM 990, PART VI, SECTION B, QUESTION 11 During APRIL of 2014, management distributed a draft of the 2012 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. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, QUESTION 12C 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. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, QUESTION 15 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. GOVERNING DOCUMENTS FORM 990, PART VI, SECTION C, QUESTION 19 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 9333684 FMV