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Nonprofiteer
← NORTH CAROLINA STATE UNIVERSITY FACULTY CLUB INC

Form 990 for tax year 2022

Filed by NORTH CAROLINA STATE UNIVERSITY FACULTY CLUB INC.

Totals

Total revenue
$5,764,962
Total expenses
$4,108,618
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,238,430
Investment income
$9,710
Other revenue
$1,516,822
Total assets, end of year
$17,723,148
Total liabilities, end of year
$2,380,093
Net assets or fund balances, end of year
$15,343,055
Program services expenses (Part IX)
$2,413,181
Management and general expenses
$1,695,437
Fundraising expenses
$0
Program service expenses (Part III)
$2,413,181

Program services were 58.7% 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: MEMBERSHIP DUES

    total $4,238,430 · related or exempt $4,238,430

  • 3 · Investment income

    total $55,304 · related or exempt $23,786 · excluded $31,518

  • 7a · Gross sales of assets other than inventory

    securities $829,783

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

    securities $875,377

  • 7c · Gain or loss

    securities -$45,594

  • 7d · Net gain or loss

    total -$45,594 · excluded -$45,594

  • 10a · Gross sales of inventory

    $1,905,520

  • 10b · Cost of goods sold

    $765,074

  • 10c · Net income from sales of inventory

    total $1,140,446 · related or exempt $1,140,446

  • 11a · Other revenue: OTHER INCOME

    total $376,376 · related or exempt $376,376

  • 11e · Other revenue, total

    $376,376

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,816,300 · program services $1,261,573 · management and general $554,727

  • 8 · Pension plan contributions

    total $10,000 · program services $6,946 · management and general $3,054

  • 9 · Other employee benefits

    total $134,918 · program services $93,712 · management and general $41,206

  • 10 · Payroll taxes

    total $150,474 · program services $113,021 · management and general $37,453

  • 11f · Fees: investment management

    total $7,994 · management and general $7,994

  • 11g · Fees: other

    total $531,543 · program services $377,857 · management and general $153,686

  • 16 · Occupancy

    total $209,967 · management and general $209,967

  • 17 · Travel

    total $25,596 · program services $7,960 · management and general $17,636

  • 20 · Interest

    total $62,745 · management and general $62,745

  • 22 · Depreciation, depletion and amortization

    total $386,772 · management and general $386,772

  • 23 · Insurance

    total $65,542 · management and general $65,542

  • 24a · Other expenses: OTHER

    total $223,555 · program services $125,771 · management and general $97,784

  • 24b · Other expenses: SUPPLIES

    total $183,341 · program services $175,641 · management and general $7,700

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $144,417 · program services $144,417

  • 24d · Other expenses: LINENS

    total $60,838 · program services $60,838

  • 24e · All other expenses

    total $94,616 · program services $45,445 · management and general $49,171

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,528,361 · end of year $6,571,814

  • 4 · Accounts receivable

    beginning of year $406,151 · end of year $567,361

  • 8 · Inventories for sale or use

    beginning of year $41,658 · end of year $68,775

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,577 · end of year $34,753

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

    $13,642,590

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

    $4,392,742

  • 10c · Land, buildings and equipment, net

    beginning of year $8,273,298 · end of year $9,249,848

  • 11 · Investments: publicly traded securities

    end of year $1,230,597

  • 17 · Accounts payable and accrued expenses

    beginning of year $152,578 · end of year $229,680

  • 19 · Deferred revenue

    beginning of year $19,600 · end of year $20,440

  • 23 · Secured mortgages and notes payable

    beginning of year $1,311,397 · end of year $2,129,973

  • 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 $13,791,470 · end of year $15,343,055

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

HAVING STRONG TIES TO THE UNIVERSITY, THE NC STATE UNIVERSITY CLUB PROVIDES ENRICHING SOCIAL EXPERIENCES, PERSONALIZED SERVICE AND ACCESS TO ATHLETIC AND RECREATIONAL PROGRAMS WHILE NURTURING A CULTURE OF FRIENDSHIP AND FELLOWSHIP FOR OUR MEMBERS, THEIR FAMILIES AND GUESTS.

  • PROVISION OF RECREATIONAL FACILITIES AND ACTIVITIES FOR THE PARTICIPATING MEMBERS OF NORTH CAROLINA STATE UNIVERSITY

    Expenses $2,413,181 · Revenue $5,779,038

As filed on the 2022 return.

Listed in Part VII

  • Dr Carol Figuers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anna Maria Taylor

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Sam Johns

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Justus Everett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael Leming

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Childrey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeffery Hastings

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Gary Blank

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Greg Kempf

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Dave Corsetti

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Greg Racshke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Heather Horton

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Charles Raphun

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • James Ivankovich

    EXECUTIVE DIRECTOR

    Total calculated
    $178,109
    From this org
    $178,109
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,109
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $178,109

  • James C White

    HIGHEST COMPENSATED EMPLOY

    Total calculated
    $188,694
    From this org
    $188,694
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,694
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $188,694

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

  • 3 · Approval by the board or compensation committee

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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202323119349301652

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