Skip to content
Nonprofiteer
← KFBSF INC

Form 990 for tax year 2024

Filed by KFBSF INC.

Totals

Total revenue
$68,577
Total expenses
$122,985
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$104,129
Investment income
-$34,230
Other revenue
-$1,322
Total assets, end of year
$498,503
Total liabilities, end of year
$3,725
Net assets or fund balances, end of year
$494,778
Program services expenses (Part IX)
$118,435
Management and general expenses
$4,550
Fundraising expenses
$0
Program service expenses (Part III)
$118,435

Program services were 96.3% 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: GENERAL PARTNER ADMINI

    total $104,129 · related or exempt $104,129

  • 3 · Investment income

    total $2,079 · excluded $2,079

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

    securities $36,309

  • 7c · Gain or loss

    securities -$36,309

  • 7d · Net gain or loss

    total -$36,309 · excluded -$36,309

  • 11a · Other revenue: PASS-THROUGH INCOME

    total -$1,322 · excluded -$1,322

  • 11e · Other revenue, total

    -$1,322

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $2,900 · management and general $2,900

  • 11c · Fees: accounting

    total $1,650 · management and general $1,650

  • 19 · Conferences, conventions and meetings

    total $4,408 · program services $4,408

  • 24a · Other expenses: REIMBURSEMENT OF ACCOUN

    total $90,000 · program services $90,000

  • 24b · Other expenses: MISCELLANEOUS

    total $19,979 · program services $19,979

  • 24c · Other expenses: SERVICE PROVIDER EXPENS

    total $3,150 · program services $3,150

  • 24d · Other expenses: GENERAL PARTNER CONTRIB

    total $898 · program services $898

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $283,431 · end of year $288,483

  • 4 · Accounts receivable

    beginning of year $157,246 · end of year $158,896

  • 12 · Investments: other securities

    beginning of year $112,234 · end of year $51,124

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,725 · end of year $3,725

  • 27 · Net assets without donor restrictions

    beginning of year $549,186 · end of year $494,778

Mission and programs · 2024

Mission

PROVIDED FUNDS TO SUPPORT EDUCATIONAL INVESTMENT PROGRAMS FOR MBA STUDENTS AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL.

Activities or mission (Part I)

KFBSF, INC. IS ORGANIZED AND OPERATED TO SUPPORT THE KENAN-FLAGLER BUSINESS SCHOOL AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL. KFBSF, INC. WAS FORMED TO SERVE AS THE GENERAL PARTNER OF LIMITED PARTNERSHIPS ESTABLISHED AS EDUCATIONAL PROGRAMS FOR MBA STUDENTS ATTENDING THE BUSINESS SCHOOL. THE PARTNERSHIPS WILL ENHANCE THE EDUCATIONAL OPPORTUNITIES AVAILABLE TO THE STUDENTS BY PROVIDING HANDS-ON EXPERIENCE IN OPERATING PRIVATE FUNDS.

  • PROVIDED FUNDS TO SUPPORT EDUCATIONAL INVESTMENT PROGRAMS FOR MBA STUDENTS AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL.

    Expenses $118,435 · Revenue $104,129

As filed on the 2024 return.

Listed in Part VII

  • Jana Raedy

    TREASURER

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

  • Joe Canady

    VICE PRESIDENT/ASSISTANT TREASURER

    Total calculated
    $249,261
    From this org
    $0
    From related orgs
    $186,918
    Other
    $62,343
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $186,918 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $47,526 related
    Nontaxable benefits
    $0 + $14,817 related
    Filer's total
    $0 + $249,261 related

  • Jeffrey Alan Allred

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Hartzell

    DIRECTOR

    Total calculated
    $467,816
    From this org
    $0
    From related orgs
    $391,461
    Other
    $76,355
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $391,461 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $56,751 related
    Nontaxable benefits
    $0 + $19,604 related
    Filer's total
    $0 + $467,816 related

  • Art Baker

    DIRECTOR

    Total calculated
    $307,908
    From this org
    $0
    From related orgs
    $229,471
    Other
    $78,437
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,471 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $59,043 related
    Nontaxable benefits
    $0 + $19,394 related
    Filer's total
    $0 + $307,908 related

  • Leonard Wood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charlie Brindell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brad Staats

    DIRECTOR

    Total calculated
    $854,772
    From this org
    $0
    From related orgs
    $784,954
    Other
    $69,818
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $495,604 related
    Bonus
    $0 + $266,350 related
    Other
    $0 + $23,000 related
    Deferred
    $0 + $48,610 related
    Nontaxable benefits
    $0 + $21,208 related
    Filer's total
    $0 + $854,772 related

  • Jeff Mittlestadt

    DIRECTOR

    Total calculated
    $259,462
    From this org
    $0
    From related orgs
    $208,983
    Other
    $50,479
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,483 related
    Bonus
    $0 + $7,500 related
    Other
    $0
    Deferred
    $0 + $31,006 related
    Nontaxable benefits
    $0 + $19,473 related
    Filer's total
    $0 + $259,462 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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • KFBSF PRIVATE EQUITY FUND II LP

    EXCLUDED · INVESTMENTS · NC · 20.8% owned · share of income -$37,124 · general or managing partner

  • KFBSF PRIVATE EQUITY FUND III LP

    EXCLUDED · INVESTMENTS · NC · 1% owned · share of income $2,229 · share of assets $12,537 · general or managing partner

  • KFBSF PRIVATE EQUITY FUND IV LP

    EXCLUDED · INVESTMENTS · NC · 1% owned · share of income $1,017 · share of assets $45,625 · general or managing partner

  • KFBSF REAL ESTATE FUND III LP

    EXCLUDED · INVESTMENTS · NC · 1% owned · share of income $1,792 · share of assets $33,940 · general or managing partner

  • KFBSF REAL ESTATE FUND IV LP

    EXCLUDED · INVESTMENTS · NC · 1% owned · share of income $2,937 · share of assets $65,015 · general or managing partner

  • KFBSF REAL ESTATE FUND V LP

    EXCLUDED · INVESTMENTS · NC · 1% owned · share of income $2,472 · share of assets $95,797 · general or managing partner

Provenance

Return type
form_990
Tax year
2024
Filed
19 January 2026
IRS schema version
2024v5.5
Source object
202620209349300607

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.