← UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS FOUNDATION INC

Form 990 for tax year 2023

Filed by UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS FOUNDATION INC.

Totals

Total revenue: $9,736,393
Total expenses: $7,413,345
Contributions and grants received: $8,877,350
Grants paid: $3,544,615
Program service revenue: $0
Investment income: $643,358
Other revenue: $215,685
Total assets, end of year: $112,184,567
Total liabilities, end of year: $182,878
Net assets or fund balances, end of year: $112,001,689
Program services expenses (Part IX): $6,068,042
Management and general expenses: $1,104,088
Fundraising expenses: $241,215
Program service expenses (Part III): $6,068,042

Program services were 81.9% 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.

1e · Government grants (contributions)

$1,000,000
1f · All other contributions, gifts and grants

$7,877,350
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $643,358 · related or exempt $643,358
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
11a · Other revenue: Miscellaneous Income

total $183,200 · related or exempt $183,200
11b · Other revenue: Administrative Fee

total $32,485 · related or exempt $32,485
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$215,685

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $3,422,254 · program services $3,422,254
2 · Grants to domestic individuals

total $122,361 · program services $122,361
5 · Compensation of officers, directors and key employees

total $201,227 · program services $20,123 · management and general $120,736 · fundraising $60,368
7 · Other salaries and wages

total $1,193,924 · program services $809,779 · management and general $384,145
9 · Other employee benefits

total $7,607 · program services $7,607
11b · Fees: legal

total $15,221 · management and general $15,221
11c · Fees: accounting

total $40,560 · management and general $40,560
11f · Fees: investment management

total $248,223 · management and general $248,223
11g · Fees: other

total $55,375 · program services $55,375 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $24,885 · program services $18,776 · fundraising $6,109
13 · Office expenses

total $424,448 · program services $160,853 · management and general $202,209 · fundraising $61,386
16 · Occupancy

total $47,354 · program services $23,097 · management and general $24,257
17 · Travel

total $309,168 · program services $201,596 · management and general $10,084 · fundraising $97,488
19 · Conferences, conventions and meetings

total $67,366 · program services $42,191 · management and general $9,311 · fundraising $15,864
23 · Insurance

total $26,600 · program services $7,670 · management and general $18,930
24a · Other expenses: Design Fees and Contracted Services

total $319,781 · program services $298,719 · management and general $21,062
24b · Other expenses: Gifts and Entertainment

total $285,856 · program services $285,584 · management and general $272
24c · Other expenses: Educational Materials

total $206,692 · program services $206,692
24d · Other expenses: Guest Artists

total $149,817 · program services $149,817
24e · All other expenses

total $244,626 · program services $235,548 · management and general $9,078 · fundraising $0

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $15,879,570 · end of year $17,124,622
3 · Pledges and grants receivable

beginning of year $2,939,225 · end of year $5,331,265
4 · Accounts receivable

beginning of year $8,337 · end of year $20,700
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $30,074 · end of year $19,678
10a · Land, buildings and equipment: cost or other basis

$378,337
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $52,442 · end of year $378,337
12 · Investments: other securities

beginning of year $80,155,390 · end of year $88,908,481
13 · Investments: program-related

beginning of year $12,799 · end of year $17,460
15 · Other assets

beginning of year $313,075 · end of year $384,024
17 · Accounts payable and accrued expenses

beginning of year $55,564 · end of year $147,368
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $33,469 · end of year $35,510
27 · Net assets without donor restrictions

beginning of year $1,802,753 · end of year $1,326,040
28 · Net assets with donor restrictions

beginning of year $97,499,126 · end of year $110,675,649

Mission and programs · 2023

Mission

UNCSA FOUNDATION'S PRIMARY PURPOSE IS TO FINANCIALLY SUPPORT THE ADVANCEMENT AND ACHIEVEMENT OF THE STUDENTS, FACULTY, AND STAFF OF THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS. THE UNCSA FOUNDATION STRIVES TO SUPPORT THE STRATEGIC INITIATIVES OF THE UNCSA.

Activities or mission (Part I)

To foster and promote the growth, progress and general welfare of the UNCSA.

THE UNCSA FOUNDATION, INC. COORDINATES THE FUNDING OF THE UNCSA'S PROGRAMS, SCHOLARSHIPS, AND GUEST ARTISTS. THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS ("UNCSA") IS DEDICATED ENTIRELY TO THE PROFESSIONAL TRAINING OF THE STUDENTS POSSESSING EXCEPTIONAL TALENTS IN PERFORMING, VISUAL, AND MOVING IMAGE ARTS. UNCSA IS COMMITTED TO THE IDEA THAT ART COMBINES CRAFT, IMAGINATION, PASSION AND INTELLECT. SCHOLARSHIPS CAN BE AWARDED BASED ON TALENT, DEMONSTRATED NEED, OR A COMBINATION OF BOTH. UNCSA PROVIDES STUDENTS WITH THE INVALUABLE EXPERIENCE OF WORKING WITH MANY INTERNATIONALLY RENOWNED ARTISTS WHO TEACH MASTER CLASSES, WORK ONE-ON-ONE WITH STUDENTS IN COACHING SESSIONS, AND TEACH CLASSES. UNCSA STRIVES TO IMPROVE THE CULTURE OF NORTH CAROLINA THROUGH COMMUNITY ENGAGEMENT TO FURTHER THE ADVANCEMENT OF THE ARTS.

Expenses $6,068,042 · Grants $3,544,615 · Revenue $859,043

As filed on the 2023 return.

Listed in Part VII

David P Broughton

President

Total calculated

$0

Hours/week

1
Erin Jones Adams

Secretary

Total calculated

$0

Hours/week

1
Julie Williams

Treasurer

Total calculated

$0

Hours/week

1
McDara Folan

Vice President

Total calculated

$0

Hours/week

1
Melinda B Mueller

Assistant Treasurer

Total calculated

$0

Hours/week

1
Anne Sessions

Board Member

Total calculated

$0

Hours/week

1
Caroline Munroe

Board Member

Total calculated

$0

Hours/week

1
Christopher J Chapman

Board Member

Total calculated

$0

Hours/week

1
Craig D Cannon

Board Member

Total calculated

$0

Hours/week

1
Doug Henderson

Board Member

Total calculated

$0

Hours/week

1
Howard Upchurch

Board Member

Total calculated

$0

Hours/week

1
Jonathan Cochrane

Board Member

Total calculated

$0

Hours/week

1
Joseph P Logan

Board Member

Total calculated

$0

Hours/week

1
Laura B Dugan

Board Member

Total calculated

$0

Hours/week

1
Laura Ramsay

Board Member

Total calculated

$0

Hours/week

1
Meade Willis

Board Member

Total calculated

$0

Hours/week

1
Michael L Rogers

Board Member

Total calculated

$0

Hours/week

1
Ralph H Womble

Board Member

Total calculated

$0

Hours/week

1
Robert L King III

Board Member

Total calculated

$0

Hours/week

1
Sandlin Douglas

Board Member

Total calculated

$0

Hours/week

1
Scott Cawood

Board Member

Total calculated

$0

Hours/week

1
Shelley Holden

Board Member

Total calculated

$0

Hours/week

1
Stacy Petronzio

Board Member

Total calculated

$0

Hours/week

1
Stephen Berlin

Board Member

Total calculated

$0

Hours/week

1
William R Watson

Board Member

Total calculated

$0

Hours/week

1
Cynthia B Liberty

Executive Director

Total calculated

$201,227

From this org

$177,500

From related orgs

$0

Other

$23,727

Hours/week

45

Schedule J breakdown matched by us

Base

$177,500

Bonus

$0

Other

$0

Deferred

$14,400

Nontaxable benefits

$9,327

Filer's total

$201,227

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation: ON AN ANNUAL BASIS THE EXECUTIVE DIRECTOR HAS A WRITTEN REVIEW FROM THE TREASURER AND PRESIDENT OF THE UNCSA FOUNDATION. DURING THE REVIEW PROCESS, NOT ONLY THE ACCOMPLISHMENTS FROM THE PREVIOUS YEARS REVIEWED AND DISCUSSED, BUT GOALS FOR THE UPCOMING YEAR ARE ALSO REVIEWED AND AGREED UPON. SINCE THE POSITION IS UNIQUE IN THE NATURE EVEN COMPARED TO OTEHR UNIVERSITIES IN THE SYSTEM, THE SALARY IS REVIEWED IN CONTEXT WITH OTHER MEMBERS OF THE CHANCELLOR'S CABINET AND UNIVERSITY DEANS. BY COMPARING THIS POSITION'S SALARY AND BENEFIT PACKAGE WITH THE COUNTERPARTS THAT THE POSITION WORKS WITH TO HELP MAINTAIN AND MANAGE THE OPERATIONS OF THE ENTITIES THAT ARE SUPPORTED BY THESE EFFORTS, IT GIVES THE FOUNDATION BOARD REASONABLE ASSURANCE OF KEEPING THE SALARY COMPETITIVE.

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

UNC SCHOOL OF THE ARTS

$3,439,164

PAYMENTS FOR SCHOLARSHIPS, FACULTY SABBATICALS AND GRANTS

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.

UNCSA Foundation Management LLC

Accepts real estate donations and facilitates real estate purchases · NC · income $0 · assets $0

Directly controlled by UNC School of the Arts Foundation

Provenance

Return type: form_990
Tax year: 2023
Filed: 19 November 2024
IRS schema version: 2023v5.1
Source object: 202433249349300108

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