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Nonprofiteer
← QUEENS UNIVERSITY OF CHARLOTTE ENDOWMENT

Form 990 for tax year 2023

Filed by QUEENS UNIVERSITY OF CHARLOTTE ENDOWMENT.

Totals

Total revenue
$2,368,471
Total expenses
$8,919,537
Contributions and grants received
$2,496,550
Grants paid
$8,239,512
Program service revenue
$0
Investment income
-$128,079
Other revenue
$0
Total assets, end of year
$166,265,915
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$166,265,915
Program services expenses (Part IX)
$8,549,875
Management and general expenses
$321,992
Fundraising expenses
$47,670
Program service expenses (Part III)
$8,549,875

Program services were 95.9% 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.

  • 1d · Related organizations

    $2,496,550

  • 3 · Investment income

    total -$128,079 · unrelated business -$128,079

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,239,512 · program services $8,239,512

  • 11f · Fees: investment management

    total $198,940 · program services $90,796 · management and general $94,198 · fundraising $13,946

  • 11g · Fees: other

    total $481,085 · program services $219,567 · management and general $227,794 · fundraising $33,724

Balance sheet

Part X, book values.

  • 12 · Investments: other securities

    beginning of year $154,502,680 · end of year $166,265,915

  • 28 · Net assets with donor restrictions

    beginning of year $154,502,680 · end of year $166,265,915

Mission and programs · 2023

Mission

THE ENDOWMENT WILL PERFORM THE ENDOWMENT FUNCTIONS AND CARRY OUT THE PURPOSES OF QUEENS UNIVERSITY OF CHARLOTTE AND FOUNDATION FOR THE CAROLINAS WITH RESPECT TO THE QUEENS UNIVERSITY OF CHARLOTTE.

  • DISTRIBUTE GRANTS TO SUPPORT QUEENS UNIVERSITY SCHOLARSHIP PROGRAM.

    Expenses $8,549,875 · Grants $8,239,512

As filed on the 2023 return.

Listed in Part VII

  • L WATTS HAMRICK III

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • DONNA DEAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ROB ENGEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SAAD EHTISHAM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • HOOPER HARDISON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ERIC MCCARTHY CFA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SUSAN MCCONNELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MANUEL REY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARCIA TILLOTSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARGI VAGELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DANIEL LUGO

    PRESIDENT

    Total calculated
    $758,643
    From this org
    $0
    From related orgs
    $623,955
    Other
    $134,688
    Hours/week
    0.5 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $560,789 related
    Bonus
    $0 + $55,000 related
    Other
    $0 + $8,166 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $118,188 related
    Filer's total
    $0 + $758,643 related

  • ALYSSA FEDERICO

    SENIOR VP, FINANCE

    Total calculated
    $383,335
    From this org
    $0
    From related orgs
    $337,555
    Other
    $45,780
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,520 related
    Bonus
    $0 + $117,000 related
    Other
    $0 + $1,035 related
    Deferred
    $0 + $43,500 related
    Nontaxable benefits
    $0 + $2,280 related
    Filer's total
    $0 + $383,335 related

  • MATTHEW A PACKEY

    ASST SECRETARY (START 7/1/23)

    Total calculated
    $219,567
    From this org
    $0
    From related orgs
    $198,496
    Other
    $21,071
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,630 related
    Bonus
    $0
    Other
    $0 + $29,866 related
    Deferred
    $0 + $8,589 related
    Nontaxable benefits
    $0 + $12,482 related
    Filer's total
    $0 + $219,567 related

  • MARY ALICE BOYD

    ASST SECRETARY (THRU 6/30/23)

    Total calculated
    $162,562
    From this org
    $0
    From related orgs
    $140,781
    Other
    $21,781
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $108,105 related
    Bonus
    $0 + $18,800 related
    Other
    $0 + $13,876 related
    Deferred
    $0 + $5,875 related
    Nontaxable benefits
    $0 + $15,906 related
    Filer's total
    $0 + $162,562 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.

Provenance

Return type
form_990
Tax year
2023
Filed
25 June 2025
IRS schema version
2023v6.0
Source object
202531889349300218

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