2011-05-11T08:59:20-05:00 2010-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2009-07-01 566058412 THE EDUCATIONAL FOUNDATION INC EDUC 9198432000 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 DIANE ALDRIDGE 2011-04-25 true 3362753394 2009 2016-02-24 21:20:13Z DIANE S ALDRIDGE 450 SKIPPER BOWLES DRIVE CHAPEL HILL NC 27599 30714645 false X WWW.RAMSCLUB.ORG 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. 22 22 21 200 0 0 17713556 27145697 0 0 2535735 1855708 16970 -8942 20266261 28992463 18987467 8563646 0 0 2150160 2438453 470 0 1881085 6094586 5694896 27232683 16696995 -6966422 12295468 71486730 87823652 38249318 42314524 33237412 45509128 "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 7561601 3263742 CONSTRUCTION/RENOVATION OF ATHLETIC FACILITIES: COMPLETION OF $25M RENOVATION TO BASEBALL Stadium. 5299904 5299904 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 OTHER VARIOUS FINANCIAL OBLIGATIONS OF THE UNIVERSITY. 12861505 true true false false false false false false 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 false false false true 76 0 true 21 true false false false false true true true true true 1 false false true true false false false 22 22 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 EDDIE SMITH 1.0 X 0 0 0 BOB EUBANKS 1.0 X 0 0 0 BRAD BURRIS 1.0 X 0 0 0 TOM CHEWNING 1.0 X 0 0 0 ALLEN WILSON 1.0 X 0 0 0 THOMAS L WHITE 1.0 X X 0 0 0 KEN WILLIAMS 1.0 X X 0 0 0 MARVIN CARVER 1.0 X X 0 0 0 MILTOM PETTY 1.0 X X 0 0 0 JAY KLOMPMAKER 1.0 X X 0 0 0 RANDY MYER 1.0 X 0 0 0 WILLIAM FULLER 1.0 X 0 0 0 SID ALDRIDGE 1.0 X 0 0 0 TOM MANN 1.0 X 0 0 0 LORI IRELAND 1.0 X 0 0 0 ROGER PERRY 1.0 X 0 0 0 DAVID CARROLL 1.0 X 0 0 0 DWIGHT STONE 1.0 X 0 0 0 JOHN D BLACK 1.0 X 0 0 0 W LOWRY CAUDILL 1.0 X 0 0 0 MUNROE G COBEY 1.0 X 0 0 0 ANN B PETERSEN 1.0 X 0 0 0 DIANE ALDRIDGE 40.0 X 105261 0 10549 DAWN MCPHERSON 40.0 X 108777 0 16320 JOHN MONTGOMERY 40.0 X 237850 0 19731 NEAL HARRELL 40.0 X 155302 0 37676 KEN MACK 40.0 X 118241 0 12030 MATT TERRELL 40.0 X 103124 0 10983 SUSAN WALSH 40.0 X 99640 0 16141 KARLTON CREECH 40.0 X 104011 0 11685 JOHN D CHERRY 0.0 X 13252 0 0 MOYER G SMITH 0.0 X 25326 0 0 1070784 0 135115 8 true true true CLANCY THEYS PO BOX 27608 RALEIGH NC 27611 GENERAL CONTRACTOR 17875660 CORLEY REDFOOT ZACK PO BOX 2368 CHAPEL HILL NC 27515 ARCHITECTURAL DESIGN 3872037 ROTMAN ARCHITECTURE 700 GLENWOOD AVE RALEIGH NC 27605 OWNER'S REP SERVICES 344326 CAUSEY AVIATION SERVICES 6120 SMITHWOOD ROAD LIBERTY NC 27298 AVIATION SERVICES 240409 HEALY KOHLER 6501 ALLEGHENY AVENUE TAKOMA PARK MD 20912 GRAPHICS DESIGNS 156257 11 15755 27129942 2269288 27145697 0 271704 0 0 271704 0 0 3286869 1702865 1584004 1584004 0 0 1584004 10375 15755 19317 -8942 -8942 0 0 0 0 0 28992463 -8942 0 1855708 8563646 8563646 0 0 0 504239 289332 214907 0 0 1546708 887501 659207 0 0 367253 210730 156523 0 20253 11621 8632 0 0 0 156693 0 156693 0 5447 0 5447 0 0 239091 0 239091 0 24778 0 24778 0 419294 0 0 419294 257416 25742 231674 0 80056 8006 72050 0 0 246700 0 27359 219341 330964 0 36704 294260 82741 0 9176 73565 0 9122 9122 0 0 0 57747 51972 5775 0 48863 0 48863 0 SCHOLARSHIPS/CAPITAL PROJECTS 2117767 2117767 HOME FOOTBALL GAME EXPENSES 451308 225654 225654 COMPLIMENTARY TICKETS 412396 412396 HOME BASKETBALL GAME EXPENSES 361268 180634 180634 BAD DEBT (PLEDGES) 169836 169836 223409 109942 57526 55941 16696995 12861505 1954405 1881085 21266541 20826094 10373592 14511929 298178 271219 25194949 406840 11345761 24788109 24032409 23437972 4170249 3988329 71486730 87823652 21176964 14052994 0 1159141 16143125 26146692 929229 955697 38249318 42314524 X 3871601 17673317 13761178 11321775 15604633 16514036 33237412 45509128 71486730 87823652 X false true true X false X 20559919 37682683 24807678 17713556 27145697 127909533 20559919 37682683 24807678 17713556 27145697 127909533 899778 127009755 746307 1161636 1327383 1166846 271704 4673876 72138 0 0 0 0 72138 132655547 0.95744 0.95099 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15084521 660490 15745011 14142113 942408 15084521 0.00000 1.00000 0.00000 false false 691421 406840 284581 24503528 24503528 24788109 CERTIFICATE OF DEPOSIT 259480 F UNC CH FDN INV. FUND, INC. 22782341 F OTHER EQUITY INVESTMENTS 396151 F 23437972 0 ANNUITIES PAYABLE 955697 955697 28992463 16696995 12295468 -23752 -23752 12271716 28988028 -23752 19317 -4435 28992463 28992463 16716312 19317 19317 16696995 16696995 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 REVENUE FORM 990, SCHEDULE D, PART XII, LINE 2D SPECIAL EVENT EXPENSE RECLASS 19,317. OTHER EXPENSES FORM 990, SCHEDULE D, PART XIII, LINE 2D SPECIAL EVENT EXPENSE RECLASS 19,317. 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X X X true true X X false true false true false false false false false DIANE ALDRIDGE 80573 0 10391 0 14297 0 6171 0 4378 0 115810 0 0 0 DAWN MCPHERSON 91868 0 11291 0 5618 0 11948 0 4372 0 125097 0 0 0 JOHN MONTGOMERY 202795 0 20121 0 14934 0 15359 0 4372 0 257581 0 0 0 NEAL HARRELL 129076 0 12409 0 13817 0 33304 0 4372 0 192978 0 0 0 KEN MACK 99753 0 10033 0 8455 0 7658 0 4372 0 130271 0 0 0 MATT TERRELL 75890 0 11547 0 15687 0 6611 0 4372 0 114107 0 0 0 SUSAN WALSH 82890 0 11185 0 5565 0 11769 0 4372 0 115781 0 0 0 KARLTON CREECH 80260 0 8647 0 15104 0 7313 0 4372 0 115696 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 5054 0 0 0 0 0 25326 0 0 0 WRITTEN POLICY FOR COMPENSATION FORM 990, SCHEDULE J, PART I, QUESTION 1A CHARTER TRAVEL, TRAVEL FOR COMPANIONS, AND CLUB DUES WERE 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. JOHN MONTGOMERY RECEIVED CHARTER TRAVEL, TRAVEL FOR COMPANIONS, AND CLUB DUES. NEAL HARRELL RECEIVED CLUB DUES AND CHARTER TRAVEL. KEN MACK, MATT TERRELL, SUSAN WALSH, AND KARLTON CREECH RECEIVED CHARTER TRAVEL. ALL TRAVEL WAS ASSOCIATED WITH THE ORGANIZATION'S CHARITABLE MISSION AND WAS NOT TREATED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUALS. A PORTION OF THE CLUB DUES WERE TREATED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUALS. 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 21,643 (PARTICIPATION) SUSAN WALSH 5,366 (PARTICIPATION) MOYER SMITH 20,272 (PAYMENT) JOHN CHERRY 13,252 (PAYMENT) INCENTIVE COMPENSATION PLAN FORM 990, SCHEDULE J, PART I, QUESTION 5A SENIOR STAFF OF THE ORGANIZATION ARE ELIGIBLE TO PARTICIPATE IN THE INCENTIVE COMPENSATION PLAN. THE PURPOSE OF THE PLAN IS TO ALIGN SENIOR STAFF PERFORMANCE MEASURES WITH OVERALL FOUNDATION GOALS AND CLEARLY COMMUNICATE TO SENIOR STAFF THE CRITERIA FOR EXCEPTIONAL PERFORMANCE WHICH COULD MERIT INCENTIVE COMPENSATION. THIS PLAN IS DRAFTED AND APPROVED EACH YEAR BY THE PERSONNEL & COMPENSATION COMMITTEE WITH FINAL AWARDING OF INCENTIVE COMPENSATION APPROVED BY THE EXECUTIVE BOARD. ACCRUED COMPENSATION FORM 990, PART VII, LINE 5, SCHEDULE J PART II, AND SCHEDULE J-2 THE ORGANIZATION EMPLOYEES RECEIVE COMPENSATION FROM THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL (THE UNIVERSITY), AN UNRELATED ORGANIZATION PER FORM 990 INSTRUCTIONS. SUCH COMPENSATION IS INCLUDED IN THE RETURN. COMPENSATION PAID BY THE UNIVERSITY TO EMPLOYEES OF THE ORGANIZATION IS REIMBURSED BY THE ORGANIZATION TO THE UNIVERSITY. X 158 1591507 FMV X CAR DEALER CREDITS 49 605000 FMV X MISCELLANEOUS 3 72781 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. BUSINESS AND FAMILY RELATIONSHIPS FORM 990, PART VI, SECTION A, LINE 2 EDDIE SMITH, BOB EUBANKS, AND ROGER PERRY, MEMBERS OF THE BOARD OF DIRECTORS, HAVE BUSINESS RELATIONSHIPS. DWIGHT STONE AND THOMAS L WHITE, MEMBERS OF THE BOARD OF DIRECTORS, HAVE A BUSINESS RELATIONSHIP. SID ALDRIDGE, MEMBER OF THE BOARD OF DIRECTORS, AND DIANE ALDRIDGE, OFFICER, HAVE A FAMILY RELATIONSHIP. 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 2011, MANAGEMENT DISTRIBUTED A DRAFT OF THE 2009 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 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 ANNUALLY REVIEWS OUTSIDE, INDEPENDENT DATA TO ESTABLISH THE COMPENSATION OF OUR OFFICERS AND KEY EMPLOYEES. THE BOARD OF DIRECTORS REVIEWS AND SETS 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. 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