Form 990 for tax year 2022
Filed by UNIVERSITY OF NORTH CAROLINA AT GREENSBORO INVESTMENT FUND INC.
Totals
- Total revenue
- $11,465,443
- Total expenses
- $17,783,587
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $6,032,966
- Other revenue
- $5,432,477
- Total assets, end of year
- $392,897,621
- Total liabilities, end of year
- $802,084
- Net assets or fund balances, end of year
- $392,095,537
- Program services expenses (Part IX)
- $15,544,723
- Management and general expenses
- $2,238,864
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $15,544,723
Program services were 87.4% 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.
-
3 · Investment income
total $1,701,632 · unrelated business $462,376 · excluded $1,239,256
-
7a · Gross sales of assets other than inventory
securities $4,331,334
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $4,331,334
-
7d · Net gain or loss
total $4,331,334 · excluded $4,331,334
-
11a · Other revenue: PARTICIPANT CONTRIBUTIONS
total $5,432,477 · related or exempt $5,432,477
-
11e · Other revenue, total
$5,432,477
Functional expenses
Part IX, the statement of functional expenses.
-
11f · Fees: investment management
total $1,082,278 · management and general $1,082,278
-
24a · Other expenses: PARTICIPANT DISTRIBUTIO
total $15,544,723 · program services $15,544,723
-
24b · Other expenses: MANAGEMENT EXPENSES
total $1,156,586 · management and general $1,156,586
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $650,890 · end of year $802,083
-
12 · Investments: other securities
beginning of year $368,639,796 · end of year $392,095,538
-
17 · Accounts payable and accrued expenses
beginning of year $650,891 · end of year $802,084
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $368,639,795 · end of year $392,095,537
Mission and programs · 2022
Mission
TO ACCEPT THE TRANSFER OF ASSETS FROM THE UNCG ENDOWMENT FUND AND THE AFFILIATED FOUNDATIONS, WHICH BENEFIT THE UNIVERSITY, AND TO MANAGE THE INVESTMENT OF THOSE ASSETS.
-
BENEFIT UNCG BY MAKING INVESTMENTS FOR RELATED ENTITY ENDOWMENTS. INVESTMENT GAIN WAS 9.10% FOR THE FISCAL YEAR. ENDOWMENT SPENDING IS BASED ON A THREE YEAR AVERAGE AND IS USED FOR SCHOLARSHIPS, PROFESSORSHIPS, AND DEPARTMENTAL SPENDING. DISTRIBUTIONS WERE: UNCG ENDOWMENT $8,105,985UNCG EXCELLENCE FOUNDATION 7,406,651UNCG CAMPUS MINISTRIES 32,087
Expenses $15,544,723 · Revenue $5,432,477
As filed on the 2022 return.
Listed in Part VII
-
CHARLES KING
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
ROBERT J SHEA JR
TREASURER
- Total calculated
- $363,260
- From this org
- $0
- From related orgs
- $291,445
- Other
- $71,815
- Hours/week
- 0.1 + 39.9 related
Schedule J breakdown matched by us
- Base
- $0 + $290,965 related
- Bonus
- $0 + $480 related
- Other
- $0
- Deferred
- $0 + $71,815 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $363,260 related
-
DR ADAM AIKEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SAM CONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
HUBERT HUMPHREY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
RANDALL KAPLAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
BILLY NUTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
BETSY OAKLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DALE PHIPPS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
VERNON WINTERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
FRANKLIN GILLIAM
DIRECTOR
- Total calculated
- $508,893
- From this org
- $0
- From related orgs
- $427,201
- Other
- $81,692
- Hours/week
- 0.1 + 39.9 related
Schedule J breakdown matched by us
- Base
- $0 + $415,921 related
- Bonus
- $0 + $11,280 related
- Other
- $0
- Deferred
- $0 + $73,865 related
- Nontaxable benefits
- $0 + $7,827 related
- Filer's total
- $0 + $508,893 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.
-
501(C)(3) · FUNDRAISING · NC
Directly controlled by THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO
-
THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO
GOVERNMENTAL · EDUCATION · NC
-
THE UNIV OF NC AT GREENSBORO WEATHERSPOON ARTS FOUNDATION INC
501(C)(3) · FUNDRAISING · NC
Directly controlled by THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO
-
CAPITAL FACILITIES FOUNDATION INC
501(C)(3) · BUILDING SUPPORT · NC
Directly controlled by THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO
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.
-
INVESTMENT · INVESTMENT · MA · 99.99% owned · share of income $7,628,200 · share of assets $331,396,621
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 19 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400549349301205
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