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← UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS HOUSING CORPORATION

Form 990 for tax year 2024

Filed by UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS HOUSING CORPORATION.

Totals

Total revenue
$1,450,467
Total expenses
$990,967
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,290,774
Investment income
$139,806
Other revenue
$19,887
Total assets, end of year
$6,453,236
Total liabilities, end of year
$2,103,381
Net assets or fund balances, end of year
$4,349,855
Program services expenses (Part IX)
$990,967
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$990,967

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: STUDENT HOUSING INCOME

    total $1,290,774 · related or exempt $1,290,774

  • 3 · Investment income

    total $139,806 · excluded $139,806

  • 11a · Other revenue: MISCELLANEOUS

    total $19,887 · related or exempt $19,887

  • 11e · Other revenue, total

    $19,887

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $14,760 · program services $14,760

  • 11g · Fees: other

    total $9,048 · program services $9,048

  • 13 · Office expenses

    total $35,406 · program services $35,406

  • 16 · Occupancy

    total $274,603 · program services $274,603

  • 20 · Interest

    total $51,060 · program services $51,060

  • 22 · Depreciation, depletion and amortization

    total $143,639 · program services $143,639

  • 23 · Insurance

    total $60,083 · program services $60,083

  • 24a · Other expenses: NON-OPERATING EXPENSE

    total $227,186 · program services $227,186

  • 24b · Other expenses: PAYROLL REIMBURSEMENT

    total $175,182 · program services $175,182

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,472,388 · end of year $2,680,755

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,431 · end of year $38,267

  • 10a · Land, buildings and equipment: cost or other basis

    $6,315,467

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,581,253

  • 10c · Land, buildings and equipment, net

    beginning of year $3,849,461 · end of year $3,734,214

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,395 · end of year $21,713

  • 20 · Tax-exempt bond liabilities

    beginning of year $2,457,452 · end of year $2,078,220

  • 25 · Other liabilities

    beginning of year $4,078 · end of year $3,448

  • 27 · Net assets without donor restrictions

    beginning of year $2,487,894 · end of year $2,684,641

  • 28 · Net assets with donor restrictions

    beginning of year $1,402,461 · end of year $1,665,214

Mission and programs · 2024

Mission

TO SUPPORT AND AID THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS BY PROVIDING MODERN RESIDENCE FACILITIES FOR COLLEGE STUDENTS.

Activities or mission (Part I)

TO PROVIDE PRIVATIZED HOUSING FOR COLLEGE STUDENT ADJACENT TO UNIVERSITY SETTING.

  • PROGRAM HOUSING- TO PROVIDE PRIVATIZED HOUSING FOR COLLEGE STUDENTS ADJACENT TO UNIVERSITY SETTING.

    Expenses $990,967 · Revenue $1,310,661

As filed on the 2024 return.

Listed in Part VII

  • Melanie Nuckols

    TREASURER

    Total calculated
    $177,375
    From this org
    $0
    From related orgs
    $132,229
    Other
    $45,146
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $132,229 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,391 related
    Nontaxable benefits
    $0 + $11,755 related
    Filer's total
    $0 + $177,375 related

  • Patrick Sims

    VICE PRESIDENT

    Total calculated
    $285,483
    From this org
    $0
    From related orgs
    $218,511
    Other
    $66,972
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,511 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $54,924 related
    Nontaxable benefits
    $0 + $12,048 related
    Filer's total
    $0 + $285,483 related

  • Wendy Emerson

    PRESIDENT

    Total calculated
    $250,417
    From this org
    $0
    From related orgs
    $193,833
    Other
    $56,584
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $193,833 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $47,889 related
    Nontaxable benefits
    $0 + $8,695 related
    Filer's total
    $0 + $250,417 related

  • David Harrison

    SECRETARY

    Total calculated
    $213,964
    From this org
    $0
    From related orgs
    $179,540
    Other
    $34,424
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,540 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $25,729 related
    Nontaxable benefits
    $0 + $8,695 related
    Filer's total
    $0 + $213,964 related

  • Laurel Donley

    ASSISTANT SECRETARY/ASSISTANT TREASURER

    Total calculated
    $183,856
    From this org
    $0
    From related orgs
    $149,952
    Other
    $33,904
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,952 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $22,149 related
    Nontaxable benefits
    $0 + $11,755 related
    Filer's total
    $0 + $183,856 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202533119349301428

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