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Nonprofiteer
← KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION

Form 990 for tax year 2024

Filed by KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION.

Totals

Total revenue
$56,551,031
Total expenses
$50,040,059
Contributions and grants received
$29,511,861
Grants paid
$50,040,059
Program service revenue
$16,319,000
Investment income
$10,576,637
Other revenue
$143,533
Total assets, end of year
$305,218,348
Total liabilities, end of year
$5,559,267
Net assets or fund balances, end of year
$299,659,081
Program services expenses (Part IX)
$50,040,059
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$50,040,059

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.

  • 1f · All other contributions, gifts and grants

    $29,511,861

  • 1g · Noncash contributions included above

    $7,383,465

  • 2a · Program service revenue: EXECUTIVE EDUCATION PROGRAM

    total $16,300,000 · related or exempt $16,300,000

  • 2b · Program service revenue: GLOBAL IMMERSION ELECTIVE

    total $19,000 · related or exempt $19,000

  • 3 · Investment income

    total $10,474,104 · excluded $10,474,104

  • 6a · Gross rents

    real property $428

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $428

  • 6d · Net rental income or loss

    total $428 · excluded $428

  • 7a · Gross sales of assets other than inventory

    securities $117,939

  • 7b · Less cost or other basis and sales expenses

    securities $15,406

  • 7c · Gain or loss

    securities $102,533

  • 7d · Net gain or loss

    total $102,533 · excluded $102,533

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $140,206 · excluded $140,206

  • 11b · Other revenue: PASS-THROUGH INCOME

    total $2,899 · excluded $2,899

  • 11e · Other revenue, total

    $143,105

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,040,059 · program services $50,040,059

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $289,587 · end of year $2,759,208

  • 2 · Savings and temporary cash investments

    beginning of year $80,440,727 · end of year $79,120,702

  • 3 · Pledges and grants receivable

    beginning of year $25,194,677 · end of year $16,805,572

  • 4 · Accounts receivable

    beginning of year $49,522 · end of year $2,520

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $36,628

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

    $3,843,285

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

    $752,238

  • 10c · Land, buildings and equipment, net

    beginning of year $82,043 · end of year $3,091,047

  • 11 · Investments: publicly traded securities

    beginning of year $171,893,798 · end of year $197,736,225

  • 15 · Other assets

    beginning of year $9,323,679 · end of year $5,666,446

  • 17 · Accounts payable and accrued expenses

    beginning of year $412,353 · end of year $310,605

  • 19 · Deferred revenue

    beginning of year $486,500 · end of year $486,500

  • 25 · Other liabilities

    beginning of year $4,473,105 · end of year $4,762,162

  • 27 · Net assets without donor restrictions

    beginning of year $1,914,937 · end of year $1,708,800

  • 28 · Net assets with donor restrictions

    beginning of year $279,987,138 · end of year $297,950,281

Mission and programs · 2024

Mission

PROVIDED FUNDS FOR TEACHING SALARIES, RESEARCH PLANNING & ADMINISTRATION, PLACEMENT OF TEACHERS, AND STUDENT FINANCIAL ASSISTANCE TO SUPPLEMENT THE OPERATIONS OF THE UNC SCHOOL OF BUSINESS.

  • PROVIDED FUNDS FOR TEACHING SALARIES, RESEARCH PLANNING & ADMINISTRATION, PLACEMENT OF TEACHERS, AND STUDENT FINANCIAL ASSISTANCE TO SUPPLEMENT THE OPERATIONS OF THE UNC SCHOOL OF BUSINESS.

    Expenses $50,040,059 · Grants $50,040,059 · Revenue $16,319,000

As filed on the 2024 return.

Listed in Part VII

  • FRANCIE KEENAN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • JANA RAEDY

    TREASURER

    Total calculated
    $618,162
    From this org
    $0
    From related orgs
    $548,760
    Other
    $69,402
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $473,427 related
    Bonus
    $0 + $75,333 related
    Other
    $0
    Deferred
    $0 + $48,545 related
    Nontaxable benefits
    $0 + $20,857 related
    Filer's total
    $0 + $618,162 related

  • BETSY BATTLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • CHRISTIAN LUNDBLAD

    DIRECTOR

    Total calculated
    $894,354
    From this org
    $0
    From related orgs
    $823,847
    Other
    $70,507
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $660,372 related
    Bonus
    $0 + $163,475 related
    Other
    $0
    Deferred
    $0 + $48,611 related
    Nontaxable benefits
    $0 + $21,896 related
    Filer's total
    $0 + $894,354 related

  • MARY MARGARET FRANK

    DIRECTOR

    Total calculated
    $661,796
    From this org
    $0
    From related orgs
    $592,341
    Other
    $69,455
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $559,341 related
    Bonus
    $0
    Other
    $0 + $33,000 related
    Deferred
    $0 + $48,529 related
    Nontaxable benefits
    $0 + $20,926 related
    Filer's total
    $0 + $661,796 related

  • DARIUS DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • BRIAN HOGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • BILL HACKNEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • NATASHA AUSTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • BRETT KENEFICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • MARY MARGARET CARROLL

    DIRECTOR

    Total calculated
    $276,641
    From this org
    $0
    From related orgs
    $223,502
    Other
    $53,139
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,502 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,208 related
    Nontaxable benefits
    $0 + $19,931 related
    Filer's total
    $0 + $276,641 related

  • TOM CAWLEY

    SECRETARY

    Total calculated
    $172,768
    From this org
    $0
    From related orgs
    $128,868
    Other
    $43,900
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $128,868 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $32,675 related
    Nontaxable benefits
    $0 + $11,225 related
    Filer's total
    $0 + $172,768 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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • EXECUTIVE EDUCATION LLC

    EDUCATION · NC · income $16,300,000

    Directly controlled by THE KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
19 January 2026
IRS schema version
2024v5.5
Source object
202600209349301000

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