COLLEGE FOUNDATION INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- COLLEGE FOUNDATION INC (EIN 56-6046937)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-02-14
- IRS object ID
- 201320459349300802
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-02-14T07:20:32-06:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560517823 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KOONCE WOOTEN & HAYWOOD LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O BOX 17806 | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 276197806 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 566046937 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COLLEGE FOUNDATION INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | COLL | NameControl |
| Phone | 9198342893 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 41966 | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 276291966 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WENDY H MCALISTER | Name |
| Title | PRESIDENT AND CEO | Title |
| Phone | 9198342893 | Phone |
| Date Signed | 2013-02-13 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | CHRISTOPHER DUFFUS | Name |
| PTIN | P00171587 | PTIN |
| Phone | 9197829265 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | WENDY H MCALISTER | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 41966 | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 276291966 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 28600355 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.CFNC.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1955 | YearFormation |
| State Legal Domicile | NC | StateLegalDomicile |
| Activity Or Mission Description | OUR WORK TODAY MAKES A BETTER TOMORROW BY EMPOWERING PEOPLE TO ACHIEVE THEIR ACADEMIC GOALS. AT JUNE 30, THE FOUNDATION WAS SERVICING A LOAN PORTFOLIO VALUED AT OVER $3,027 MILLON AND ADMINISTERING THE NC529 PROGRAM WITH A PORTFOLIO VALUED AT OVER $972 MILLION. DURING THE TAX YEAR, STUDENTS USED THE CFNC.ORG WEBSITE TO SUBMIT OVER 482,000 APPLICATIONS TO NC COLLEGES. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 232 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 8250 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 10 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 30233557 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 28155042 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 9899 | InvestmentIncomePriorYear |
| Investment Income Current Year | 6566 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 154894 | OtherRevenuePriorYear |
| Other Revenue Current Year | 199422 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 30406600 | TotalRevenuePriorYear |
| Total Revenue Current Year | 28361040 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 8250 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 14958774 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 15320054 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 14824307 | OtherExpensePriorYear |
| Other Expenses Current Year | 14051625 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 29791331 | TotalExpensesPriorYear |
| Total Expenses Current Year | 29371679 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 615269 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -1010639 | RevenuesLessExpensesCY |
| Total Assets BOY | 53394201 | TotalAssetsBOY |
| Total Assets EOY | 50322123 | TotalAssetsEOY |
| Total Liabilities BOY | 18116028 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 14452256 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 35278173 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 35869867 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | OUR WORK TODAY MAKES A BETTER TOMORROW BY EMPOWERING PEOPLE TO ACHIEVE THEIR ACADEMIC GOALS. WE PROVIDE FINANCIAL ASSISTANCE FOR HIGHER EDUCATION TO BENEFIT SOCIETY AND STRENGTHEN THE ECONOMY OF THE STATE OF NORTH CAROLINA. | MissionDescription |
| Significant New Program Services | 1 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 15198024 | Expense |
| Revenue | 16042087 | Revenue |
| Description | EDUCATIONAL LOAN PROGRAMS. AS OF JUNE 30, 2012, THE FOUNDATION WAS SERVICING 626,998 LOANS TO 200,824 BORROWERS WITH AN OUTSTANDING PRINCIPAL BALANCE OF $3,027,721,753. THE FOUNDATION SERVICES LOANS FOR HIGHER EDUCATION FOR NORTH CAROLINIANS AT INSTITUTIONS OF HIGHER EDUCATION AND FOR STUDENTS ATTENDING INSTITUTIONS OF HIGHER EDUCATION IN NORTH CAROLINA. THE FOUNDATION SERVICES LOANS MADE UNDER PART B, TITLE IV OF THE HIGHER EDUCATION ACT (HEA) OF 1965, AS AMENDED, LOANS TO UNC CHAPEL HILL STUDENTS THAT HELPED TO FINANCE A COMPUTER PURCHASE, "EXTRA" EDUCATION LOANS TO BORROWERS ATTENDING SCHOOLS IN NC FOR QUALIFIED HIGHER EDUCATION EXPENSES NOT COVERED UNDER NC'S FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), AND "EXTRA MBA" LOANS TO BORROWERS FROM THE KENAN-FLAGLER BUSINESS SCHOOL MBA OR MAC PROGRAMS AT UNC CHAPEL HILL WHO WERE UNABLE TO SECURE LOANS UNDER NC'S FFELP OR THE EXTRA EDUCATION LOAN PROGRAM. THE FOUNDATION WAS ALSO PREPARING TO BEGIN SERVICING LOANS OWNED BY THE U.S. DEPARTMENT OF EDUCATION, WITH A TENTATIVE START DATE IN FEBRUARY 2013. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 5609239 | Expense |
| Revenue | 5792777 | Revenue |
| Description | INFORMATION DISSEMINATION INITIATIVE. THE FOUNDATION ADMINISTERS THE COLLEGE FOUNDATION OF NORTH CAROLINA (CFNC) PROGRAM TO COORDINATE INFORMATION DISSEMINATION EFFORTS TO INCREASE ACCESS TO HIGHER EDUCATION IN NORTH CAROLINA AND PROVIDE INFORMATION ON PLANNING, APPLYING, AND PAYING FOR COLLEGE THROUGH A COMPREHENSIVE WEBSITE (WWW.CFNC.ORG), CALL CENTER AND PROGRAM INFORMATION SERVICES TO SCHOOLS, COLLEGES AND BUSINESSES. THE CFNC CALL CENTER RECEIVED 127,015 CALLS IN THE YEAR ENDED JUNE 30, 2012. THE PROGRAM PROVIDED 2,637 SPECIFIC PROGRAMS TO COLLEGES, K-12 SCHOOLS AND BUSINESSES, 88 NEWS RELEASES AND PUBLIC SERVICE ANNOUNCEMENTS, 1 COMMUNIQUE AND 1 OTHER NEWSLETTER IN THE YEAR ENDED JUNE 30, 2012. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 3658119 | Expense |
| Revenue | 3407307 | Revenue |
| Description | NC 529 COLLEGE SAVINGS PROGRAM. THE FOUNDATION ACTS AS AGENT FOR THE NC STATE EDUCATION ASSISTANCE AUTHORITY IN THE ADMINISTRATION OF THE STATE'S COLLEGE SAVINGS AND INVESTMENT PROGRAM WHICH IS DESIGNED TO MEET THE REQUIREMENTS OF A "QUALIFIED" TUITION PROGRAM UNDER SECTION 529 OF THE INTERNAL REVENUE CODE. NORTH CAROLINA'S NATIONAL COLLEGE SAVINGS PROGRAM (NCSP) HAD 105,290 ACCOUNTS FOR 98,252 BENEFICIARIES AND A VALUE OF $972,144,303 AT JUNE 30, 2012. THE NCSP RECEIVED SAVINGS PLAN CONTRIBUTIONS OF $196,616,526 AND DISTRIBUTED WITHDRAWALS IN THE AMOUNT OF $57,484,166 FOR THE YEAR ENDED JUNE 30, 2012. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 2845284 | Expense |
| Revenue | 2912871 | Revenue |
| Description | SCHOOL SERVICES, NC COMMUNITY COLLEGE GRANT PROGRAM, UNC NEED-BASED GRANT PROGRAM, EDUCATION LOTTERY SCHOLARSHIP PROGRAM, COLLEGE FUNDS INSTALLMENT PAYMENT PLAN, VICTOR E. BELL, JR. SCHOLARSHIP PROGRAM, MANAGEMENT AND COMPUTER SERVICES, AND MISCELLANEOUS SCHOLARSHIP PROGRAMS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 2845284 | TotalOfOtherProgramServiceExp |
| Total Of Other Program Service Rev | 2912871 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 27310666 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 1 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 53296 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 232 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Excess Business Holdings | 0 | ExcessBusinessHoldings |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NC | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WENDY H MCALISTER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 9198342893 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2917 HIGHWOODS BLVD | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 27604 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (18 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| CHARLES J STEWART | |||||||
| CHAIRMAN OF THE BOARD | 1.00 | X | 0 | 0 | 0 | ||
| ROBERT F LOWE | |||||||
| VICE CHAIRMAN OF THE BOARD | 1.00 | X | 0 | 0 | 0 | ||
| STEPHEN G ASHWORTH | |||||||
| TREASURER OF THE BOARD | 1.00 | X | 0 | 0 | 0 | ||
| JAMES O FRYE | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ROBERT E HAMMERSLEY JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| HILDA PINNIX-RAGLAND | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ME VALENTINE JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| A HOPE WILLIAMS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| QUANTELLA WILLIAMS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JAMES I AVETT III | |||||||
| PRESIDENT & CEO | 47.00 | 196811 | 0 | 27269 | X | ||
| WENDY H MCALISTER | |||||||
| PRESIDENT-ELECT & SECRETAR | 47.00 | 167792 | 0 | 18227 | X | ||
| CLIFTON E DILLARD | |||||||
| VICE PRESIDENT | 40.00 | 98979 | 0 | 13338 | X | ||
| SHERA J HUBE | |||||||
| VICE PRESIDENT | 44.00 | 138603 | 0 | 19920 | X | ||
| PATRICK J KAISER | |||||||
| VICE PRESIDENT | 51.00 | 77167 | 0 | 5369 | X | ||
| KARL D VASS | |||||||
| VICE PRESIDENT | 44.00 | 108027 | 0 | 18627 | X | ||
| RICHARD H FERNEYHOUGH | |||||||
| IT DEVELOPMENT MANAGER | 42.00 | 116186 | 0 | 12983 | X | ||
| DAWN S HARRIS | |||||||
| IT OPERATIONS MANAGER | 44.00 | 109310 | 0 | 18980 | X | ||
| TOM E AUGUSTINE | |||||||
| SEAA INFO TECH MANAGER | 41.00 | 101833 | 0 | 18382 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1114708 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 153095 | TotalOtherCompensation |
| Number Individuals GT100 K | 7 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| KOONCE WOOTEN & HAYWOOD LLP | |||||
| 4060 BARRETT DRIVE | RALEIGH | NC | 27609 | AUDITING | 164785 |
| EASY BLUE SOLUTIONS LLC | |||||
| 7324 BARHAM HOLLOW | WAKE FOREST | NC | 27587 | COMPUTER PROGRAMMING | 161000 |
| ATBS CONSULTING | |||||
| 537 RAINBOW ROAD | ADVANCE | NC | 27006 | IT CONSULTING | 145389 |
| PRICEWATERHOUSECOOPERS LLP | |||||
| 1800 TYSONS BLVD | MCLEAN | VA | 22102 | AUDITING | 142184 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
| All Other Contributions | 10 | AllOtherContributions |
| Total Contributions | 10 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| EDUCATIONAL LOAN PROGR | 611710 | 16042087 | 16042087 |
| INFORMATION DISSEMINAT | 611710 | 5792777 | 5792777 |
| NC529 COLLEGE SAVINGS | 611710 | 3407307 | 3407307 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2912871 | TotalRevenueColumn |
| Related Or Exempt Function Income | 2912871 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 28155042 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 6566 | TotalRevenueColumn |
| Exclusion | $6,566 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 438737 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 239315 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 199422 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 199422 | TotalRevenueColumn |
| Exclusion | $199,422 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 28361040 | TotalRevenueColumn |
| Related Or Exempt Function Income | 28155042 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $205,988 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 928789 | Total |
| Program Services | 863933 | ProgramServices |
| Management And General | 64856 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10443989 | Total |
| Program Services | 9710069 | ProgramServices |
| Management And General | 733920 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 352865 | Total |
| Program Services | 328068 | ProgramServices |
| Management And General | 24797 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2752947 | Total |
| Program Services | 2559493 | ProgramServices |
| Management And General | 193454 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 841464 | Total |
| Program Services | 782333 | ProgramServices |
| Management And General | 59131 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7814 | Total |
| Program Services | 6450 | ProgramServices |
| Management And General | 1364 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 187180 | Total |
| Program Services | 88120 | ProgramServices |
| Management And General | 99060 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1085244 | Total |
| Program Services | 1036987 | ProgramServices |
| Management And General | 48257 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2796686 | Total |
| Program Services | 2796686 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2246980 | Total |
| Program Services | 2191840 | ProgramServices |
| Management And General | 55140 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3549268 | Total |
| Program Services | 3042731 | ProgramServices |
| Management And General | 506537 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 499129 | Total |
| Program Services | 465011 | ProgramServices |
| Management And General | 34118 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 150104 | Total |
| Program Services | 139535 | ProgramServices |
| Management And General | 10569 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9923 | Total |
| Program Services | 9923 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2521493 | Total |
| Program Services | 2344303 | ProgramServices |
| Management And General | 177190 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 105192 | Total |
| Program Services | 98153 | ProgramServices |
| Management And General | 7039 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| COMPUTERIZED SERVICES | 739591 | 699701 | 39890 |
| STAFF TRAINING & DEVELO | 56672 | 53524 | 3148 |
| MM SUBSIDY COSTS | 32261 | 32261 | |
| PROF ORGANIZATION MEMBE | 27373 | 25449 | 1924 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 36715 | Total |
| Program Services | 36096 | ProgramServices |
| Management And General | 619 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 29371679 | Total |
| Program Services | 27310666 | ProgramServices |
| Management And General | 2061013 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2393 | BOY |
| EOY | 485541 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24196198 | BOY |
| EOY | 19916645 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6541671 | BOY |
| EOY | 8051649 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 2055 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1980281 | BOY |
| EOY | 1814246 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 47670051 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 29627069 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19521679 | BOY |
| EOY | 18042982 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 925906 | BOY |
| EOY | 1794406 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 226073 | BOY |
| EOY | 214599 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53394201 | BOY |
| EOY | 50322123 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2246686 | BOY |
| EOY | 3315721 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1936563 | BOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1137718 | BOY |
| EOY | 6373 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12795061 | BOY |
| EOY | 11130162 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18116028 | BOY |
| EOY | 14452256 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 34692998 | BOY |
| EOY | 35281166 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36997 | BOY |
| EOY | 36997 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 548178 | BOY |
| EOY | 551704 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 35278173 | BOY |
| EOY | 35869867 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53394201 | BOY |
| EOY | 50322123 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -1010639 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 1602333 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type1 | X | SupportingOrg509a3Type1 |
| Certification Checkbox | X | CertificationCheckbox |
| Contrib By Controlling Individual | 0 | ContribByControllingIndividual |
| Contribution By Related Party | 0 | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | 0 | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STATE OF NC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 566172047 | EIN |
| Type Of Organization | 6 | TypeOfOrganization |
| Listed In Governing Doc | 0 | ListedInGoverningDoc |
| Supported Organization Notified | 1 | SupportedOrganizationNotified |
| Organized In US | 1 | OrganizedInUS |
| Amount | $0 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 1 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 0 | SumOfAmounts |
| General Explanation | SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: PART 1, LINE 11H, COLUMN (IV): THE FOUNDATION HAS A HISTORIC AND CONTINUING RELATIONSHIP WITH THE STATE OF NORTH CAROLINA AND A SUBSTANTIAL IDENTITY OF INTERESTS EXISTS BETWEEN THE ORGANIZATIONS. PART 1, LINE 11H, COLUMN (VII): THE FOUNDATION SERVICES THE LOANS THAT WERE ORIGINATED UNDER NORTH CAROLINA'S FEDERAL FAMILY EDUCATION LOAN PROGRAM AND ADMINISTERS VARIOUS PROGRAMS FOR THE NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY, A POLITICAL SUBDIVISION OF THE STATE OF NORTH CAROLINA. | GeneralExplanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 1 | AgentTrusteeEtc |
| Beginning Balance | 6990893 | BeginningBalance |
| Additions During Year | 1261784874 | AdditionsDuringYear |
| Distributions During Year | 1260194852 | DistributionsDuringYear |
| Ending Balance | 8580915 | EndingBalance |
| Included On FS | 1 | IncludedOnFS |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 3698109 | BeginningOfYearBalance |
| Contributions | 10 | Contributions |
| Investment Earnings Or Losses | 25333 | InvestmentEarningsOrLosses |
| Administrative Expenses | 15452 | AdministrativeExpenses |
| End Of Year Balance | 3708000 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 3679457 | BeginningOfYearBalance |
| Investment Earnings Or Losses | 24187 | InvestmentEarningsOrLosses |
| Administrative Expenses | 5535 | AdministrativeExpenses |
| End Of Year Balance | 3698109 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 3669596 | BeginningOfYearBalance |
| Investment Earnings Or Losses | 16660 | InvestmentEarningsOrLosses |
| Administrative Expenses | 6799 | AdministrativeExpenses |
| End Of Year Balance | 3679457 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 3609919 | BeginningOfYearBalance |
| Investment Earnings Or Losses | 65480 | InvestmentEarningsOrLosses |
| Administrative Expenses | 5803 | AdministrativeExpenses |
| End Of Year Balance | 3669596 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 1.00000 | BoardDesignatedEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 961308 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 1302882 | OtherCostOrOtherBasis |
| Book Value | 2264190 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 3862067 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 12429317 | OtherCostOrOtherBasis |
| Depreciation | 4282901 | Depreciation |
| Book Value | 12008483 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 18159436 | OtherCostOrOtherBasis |
| Depreciation | 14935227 | Depreciation |
| Book Value | 3224209 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10955041 | OtherCostOrOtherBasis |
| Depreciation | 10408941 | Depreciation |
| Book Value | 546100 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 18042982 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| CONTINGENCY FOR UNINSURED LOANS | $6,100,000 |
| ACCRUED POSTRETIREMENT BENEFIT COST | $4,848,052 |
| DEFERRED COMPENSATION PAYABLE | $146,819 |
| PAYABLE TO RELATED ORGANIZATION | $35,291 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 11130162 | TotalOfAmounts |
| Total Revenue | 28361040 | TotalRevenue |
| Total Expenses | 29371679 | TotalExpenses |
| Excess Or Deficit For Year | -1010639 | ExcessOrDeficitForYear |
| Other | $1,602,333 | OtherAmount |
| Total Adjustments | 1602333 | TotalAdjustments |
| Excess Or Deficit Per FS | 591694 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 28361040 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 28361040 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 28361040 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 29371679 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 29371679 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 29371679 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| PART IV, LINE 1B: | THE FOUNDATION SERVES AS TRUSTEE OR AGENT FOR THE NC STATE EDUCATION ASSISTANCE AUTHORITY LOAN FUND, BANKS PARTICIPATING IN THE ASSIGNED LOAN FUND, AND PARTICIPANTS IN THE SPECIAL LOAN FUND. AS LOAN PROCEEDS INCLUDING PRINCIPAL AND INTEREST PAYMENTS ARE COLLECTED FROM BORROWERS AND OTHER PAYERS, THE FUNDS ARE PROMPTLY REMITTED TO THE APPLICABLE FUNDING SOURCE. THE FOUNDATION SERVES AS AGENT FOR THE NC STATE EDUCATION ASSISTANCE AUTHORITY IN THE ADMINISTRATION OF VARIOUS GRANT AND SCHOLARSHIP PROGRAMS. FUNDS PROVIDED BY THE AUTHORITY ARE DISBURSED TO THE COLLEGES AND UNIVERSITIES PARTICIPATING IN THE PROGRAMS FOR AWARD TO ELIGIBLE STUDENTS. THE FOUNDATION ALSO SERVES IN A SIMILAR CAPACITY FOR THE NC COMMUNITY COLLEGE SYSTEM IN ADMINISTERING THE NC COMMUNITY COLLEGE GRANT PROGRAM. AS AGENT FOR THE NC STATE EDUCATION ASSISTANCE AUTHORITY IN THE ADMINSTRATION OF THE NC COLLEGE SAVINGS AND INVESTMENT PROGRAM, THE FOUNDATION RECEIVES CONTRIBUTIONS FROM PARTICIPANTS AND PASSES THE FUNDS TO THE APPROPRIATE INVESTMENT FUND MANAGER. FUNDS ARE ALSO OBTAINED BACK FROM THE INVESTMENT FUND MANAGERS IN ORDER TO DISTRIBUTE THEM AS DIRECTED BY PARTICIPANTS. | |
| PART IV, LINE 2B: | THE FOUNDATION OPERATES THE COLLEGE FUNDS INSTALLMENT PAYMENT PLAN. STUDENTS ENROLLED IN NC COLLEGES AND UNIVERSITIES THAT PARTICIPATE IN THE PLAN MAKE INTEREST-FREE MONTLY PAYMENTS THAT THE FOUNDATION, ACTING AS AGENT, COLLECTS AND FORWARDS TO THE APPROPRIATE SCHOOL. | |
| PART V, LINE 4: | ENDOWMENT FUNDS ARE FOR USE AS STUDENT LOANS OR SCHOLARSHIPS. | DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: |
| PENSION-RELATED CHANGES OTHER THAN NET PERIODIC POST RETIREMENT BENEFITS 1,602,333. COSTS AS CALCULATED CONSISTENT WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. | PART XI, LINE 8 - OTHER ADJUSTMENTS: |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Written Policy Re T And E Expenses | 0 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (3 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAMES I AVETT III | |||||||||||||
| 195227 | 0 | 0 | 0 | 1584 | 0 | 15156 | 0 | 12438 | 0 | 224405 | 0 | 0 | 0 |
| WENDY H MCALISTER | |||||||||||||
| 167432 | 0 | 0 | 0 | 360 | 0 | 10560 | 0 | 7992 | 0 | 186344 | 0 | 0 | 0 |
| SHERA J HUBE | |||||||||||||
| 137019 | 0 | 0 | 0 | 1584 | 0 | 11253 | 0 | 8992 | 0 | 158848 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | THE FOUNDATION REIMBURSED PATRICK KAISER FOR CERTAIN TAXABLE VISIT AND MOVING EXPENSES RELATED TO HIS BEING HIRED AS VP OF LOAN OPERATIONS AND TECHNOLOGY SERVICES. THESE EXPENSES WERE GROSSED UP AND INCLUDED IN TAXABLE COMPENSATION ON HIS 2011 W2. |
| PART I, LINE 1B | SENIOR VP AND PRESIDENT REVIEWED AND APPROVED SUPPORTING DOCUMENTATION FOR EXPENSES TO BE REIMBURSED AND CALCULATION OF GROSS UP SO THAT PATRICK KAISER'S NET OUT-OF-POCKET EXPENSE RELATED TO HIS VISIT AND MOVING EXPENSES WOULD BE ZERO. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| NEW PROGRAM SERVICES | FORM 990, PART III, LINE 2 | THE FOUNDATION BEGAN WORK IN THE SPRING OF 2012 ON A PILOT PROGRAM OFFERING VERIFICATION AND C-CODE RESOLUTION SERVICES TO ASSIST THE FINANCIAL AID OFFICES AT FIVE NC COMMUNITY COLLEGES. A LIMITED NUMBER OF SERVICES WERE PERFORMED FOR FOUR OF THESE SCHOOLS DURING THE YEAR ENDED JUNE 30, 2012. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990 IS COMPLETED BY THE FINANCIAL SERVICES MANAGER AND IS THEN REVIEWED BY THE VICE PRESIDENT OF FINANCIAL SERVICES AND GENERAL COUNSEL PRIOR TO BEING SUBMITTED TO THE CEO FOR HER REVIEW. COPIES OF THE APPROVED FORM ARE THEN SENT TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE FOUNDATION REQUIRES OFFICERS AND TRUSTEES TO ANNUALLY COMPLETE A "CERTIFICATION OF COMPLIANCE WITH THE CODE OF ETHICS AND CONFLICT OF INTEREST POLICY" FORM AND MONITORS FOR THE TIMELY COMPLETION OF THE CERTIFICATION BY ALL OFFICERS AND TRUSTEES. | |
| FORM 990, PART VI, SECTION B, LINE 15 | ALL JOBS IN THE FOUNDATION, INCLUDING THOSE OF THE CEO AND OTHER EXECUTIVES, ARE ASSIGNED JOB GRADES BASED ON LEVEL OF RESPONSIBILITY AND SIGNIFICANCE OF DUTIES PERFORMED. JOB GRADES ARE BENCHMARKED BY EVALUATING JOBS WITH SIMILAR JOB FUNCTIONS IN ORGANIZATIONS LOCATED PRINCIPALLY IN CENTRAL AND EASTERN NORTH CAROLINA. ANNUALLY SALARY RANGES FOR EACH JOB GRADE ARE COMPARED AGAINST THOSE PROVIDED BY PEERS IN THIS GEOGRAPHIC AREA. THIS IS ACCOMPLISHED VIA SURVEYS PROVIDED BY CAPITAL ASSOCIATED INDUSTRIES AND OTHER HUMAN RESOURCE FIRMS. THE COMPENSATION FOR THE OFFICERS AS WELL AS THE REST OF THE STAFF IS DETERMINED BY THOSE SALARY REVIEWS, INDIVIDUAL JOB PERFORMANCE, ECONOMIC CONDITIONS, AND APPROVAL BY THE BOARD OF TRUSTEES. PERIODICALLY AN OUTSIDE CONSULTING FIRM IS HIRED TO PROVIDE AN INDEPENDENT REVIEW OF JOB GRADES AND SALARY RANGES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY PROVIDING COPIES OR ALLOWING FOR INSPECTION UPON REQUEST. CORPORATE FILINGS MAY BE VIEWED ON THE WEBSITE OF THE NC SECRETARY OF STATE. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | PENSION-RELATED CHANGES OTHER THAN NET PERIODIC POST RETIREMENT BENEFITS 1,602,333. COSTS AS CALCULATED CONSISTENT WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. TOTAL TO FORM 990, PART XI, LINE 5: 1,602,333. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STATE OF NORTH CAROLINA (NC STATE EDUCATION ASSISTANCE AUTH) | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 14103 | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 27709 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 566172047 | EIN |
| Primary Activities | PROMOTING ACCESS TO HIGHER EDUCATION | PrimaryActivities |
| Legal Domicile State | NC | LegalDomicileState |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | 0 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 1 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 1 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (3 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY | ||
| K | 27255189 | SERVICE FEE REVENUE |
| NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY | ||
| P | 10908974 | CASH REIMB RECD FOR AR EXPS |
| NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY | ||
| Q | 216653 | CASH TRANSFERRED |