Form 990 for tax year 2022
Filed by THE FOUNDATION FOR NC A&T STATE UNI VERSI.
Totals
- Total revenue
- $716,366
- Total expenses
- $569,960
- Contributions and grants received
- $52,780
- Grants paid
- $0
- Program service revenue
- $360,417
- Investment income
- $274,485
- Other revenue
- $28,684
- Total assets, end of year
- $4,373,486
- Total liabilities, end of year
- $685,996
- Net assets or fund balances, end of year
- $3,687,490
- Program services expenses (Part IX)
- $499,703
- Management and general expenses
- $70,257
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $499,703
Program services were 87.7% 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.
-
1f · All other contributions, gifts and grants
$52,780
-
2a · Program service revenue: Homecoming Concert
total $209,015 · related or exempt $209,015
-
2b · Program service revenue: Alumni Reunion Weekend
total $109,782 · related or exempt $109,782
-
2c · Program service revenue: Homecoming Vendors
total $41,620 · related or exempt $41,620
-
3 · Investment income
total $91,243 · related or exempt $91,243
-
7a · Gross sales of assets other than inventory
securities $281,593
-
7b · Less cost or other basis and sales expenses
securities $98,351
-
7c · Gain or loss
securities $183,242
-
7d · Net gain or loss
total $183,242 · related or exempt $183,242
-
11a · Other revenue: Other income
total $27,668 · related or exempt $27,668
-
11b · Other revenue: Miscellaneous Income
total $1,016 · related or exempt $1,016
-
11e · Other revenue, total
$28,684
Functional expenses
Part IX, the statement of functional expenses.
-
11g · Fees: other
total $25,519 · management and general $25,519
-
19 · Conferences, conventions and meetings
total $339,274 · program services $339,274
-
23 · Insurance
total $1,728 · management and general $1,728
-
24a · Other expenses: HOMECOMING EXPENSE
total $95,025 · program services $95,025
-
24b · Other expenses: ALUMNI REUNION WEEKEND
total $65,404 · program services $65,404
-
24c · Other expenses: OTHER MISCELLANEOUS EXP
total $12,877 · management and general $12,877
-
24d · Other expenses: OPERATIONS
total $11,760 · management and general $11,760
-
24e · All other expenses
total $18,373 · management and general $18,373
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,125,156 · end of year $1,216,368
-
3 · Pledges and grants receivable
beginning of year $27,235 · end of year $27,334
-
10a · Land, buildings and equipment: cost or other basis
$3,000
-
10c · Land, buildings and equipment, net
beginning of year $3,000 · end of year $3,000
-
11 · Investments: publicly traded securities
beginning of year $3,010,870 · end of year $3,126,784
-
17 · Accounts payable and accrued expenses
beginning of year $767,817 · end of year $685,996
-
27 · Net assets without donor restrictions
beginning of year $40,148 · end of year $723,270
-
28 · Net assets with donor restrictions
beginning of year $3,358,296 · end of year $2,964,220
Mission and programs · 2022
Mission
The mission of the Foundation is to cultivate loyalty and tradition, and foster mutually beneficial lifelong relationships between the university, alumni, students and friends of the Aggie family.
Activities or mission (Part I)
The mission of the Foundation is to cultivate loyalty and tradition, and foster mutually beneficial lifelong relationships between the university, alumni, students and friends of the Aggie family. The goal of the Foundation shall be to provide means by which individuals and groups may join in a united effort to ensure the future growth and development of the university consistent with A&T's mission and strategic plan.
-
Alumni Engagement (Revenue/expense)Alumni reunion weekend ($42,530/$109,580)Homecoming Vendors ($22,681/$11,858)Homecoming Concert ($146,417/$110,295)Alumni Scholarship Investment Funds ($255,929/$0)
Expenses $499,703 · Revenue $663,586
As filed on the 2022 return.
Listed in Part VII
-
Kenneth Sigmon
President
- Total calculated
- $0
- Hours/week
- 5 + 40 related
-
Ralisha Mercer
Vice President
- Total calculated
- $0
- Hours/week
- 5 + 40 related
-
Timothy King
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Ponce Tidwell
Vice Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Emerson Fullwood
Audit/Finance Chair
- Total calculated
- $0
- Hours/week
- 2
-
Robert Pompey
Secretary/Treasurer
- Total calculated
- $0
- Hours/week
- 2
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.
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.
-
The North Carolina Real Estate Foundation
501(c)(3) · Supporting University · NC
-
North Carolina A&T State University
University · NC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202431349349305533
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