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← WESTERN CAROLINA UNIVERSITY FOUNDATION

Form 990 for tax year 2024

Filed by WESTERN CAROLINA UNIVERSITY FOUNDATION.

Totals

Total revenue
$10,960,838
Total expenses
$9,476,796
Contributions and grants received
$8,302,201
Grants paid
$8,678,891
Program service revenue
$33,210
Investment income
$2,648,338
Other revenue
-$22,911
Total assets, end of year
$98,242,802
Total liabilities, end of year
$183,853
Net assets or fund balances, end of year
$98,058,949
Program services expenses (Part IX)
$9,150,461
Management and general expenses
$326,335
Fundraising expenses
$0
Program service expenses (Part III)
$9,150,461

Program services were 96.6% 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.

  • 1c · Fundraising events

    $37,310

  • 1f · All other contributions, gifts and grants

    $8,264,891

  • 1g · Noncash contributions included above

    $1,628,529

  • 2a · Program service revenue: REGISTRATION FEES

    total $33,210 · related or exempt $33,210

  • 3 · Investment income

    total $521,994 · excluded $521,994

  • 5 · Royalties

    total $1,020 · excluded $1,020

  • 7a · Gross sales of assets other than inventory

    securities $5,567,442

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

    securities $3,441,098

  • 7c · Gain or loss

    securities $2,126,344

  • 7d · Net gain or loss

    total $2,126,344 · excluded $2,126,344

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $37,310

  • 8b · Fundraising events: direct expenses

    $23,931

  • 8c · Net income from fundraising events

    total -$23,931 · excluded -$23,931

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,678,891 · program services $8,678,891

  • 11b · Fees: legal

    total $7,699 · management and general $7,699

  • 11c · Fees: accounting

    total $11,225 · management and general $11,225

  • 11f · Fees: investment management

    total $219,782 · management and general $219,782

  • 11g · Fees: other

    total $176,874 · program services $176,874

  • 13 · Office expenses

    total $89,205 · program services $9,086 · management and general $80,119

  • 16 · Occupancy

    total $3,240 · management and general $3,240

  • 22 · Depreciation, depletion and amortization

    total $4,523 · program services $4,523

  • 23 · Insurance

    total $4,270 · management and general $4,270

  • 24a · Other expenses: SUPPLIES

    total $210,236 · program services $210,236

  • 24b · Other expenses: CONTROLLED BEVERAGES

    total $33,026 · program services $33,026

  • 24c · Other expenses: BUSINESS ENTERTAINMENT

    total $26,114 · program services $26,114

  • 24d · Other expenses: CLOTHING & UNIFORMS

    total $6,242 · program services $6,242

  • 24e · All other expenses

    total $5,469 · program services $5,469

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,657,375 · end of year $1,858,246

  • 2 · Savings and temporary cash investments

    beginning of year $10,581,760 · end of year $10,624,374

  • 3 · Pledges and grants receivable

    beginning of year $4,690,240 · end of year $4,212,828

  • 4 · Accounts receivable

    beginning of year $146,319 · end of year $121,305

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

    $460,498

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

    $34,876

  • 10c · Land, buildings and equipment, net

    beginning of year $248,802 · end of year $425,622

  • 11 · Investments: publicly traded securities

    beginning of year $52,320 · end of year $61,596

  • 12 · Investments: other securities

    beginning of year $73,224,627 · end of year $80,794,963

  • 15 · Other assets

    beginning of year $126,382 · end of year $143,868

  • 17 · Accounts payable and accrued expenses

    end of year $160

  • 19 · Deferred revenue

    beginning of year $39,825 · end of year $39,825

  • 25 · Other liabilities

    beginning of year $126,382 · end of year $143,868

  • 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 $90,561,618 · end of year $98,058,949

Mission and programs · 2024

Mission

PROVIDES FINANCIAL SUPPORT TO WESTERN CAROLINA UNIVERSITY.

  • PROVIDES FINANCIAL ASSISTANCE AND SCHOLARSHIPS TO DESERVING STUDENTS, AND FINANCIAL SUPPORT TO VARIOUS DEPARTMENTS OF WESTERN CAROLINA UNIVERSITY.

    Expenses $9,150,461 · Grants $8,678,891 · Revenue $33,210

As filed on the 2024 return.

Listed in Part VII

  • MIKE CRAWFORD

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • HOYT ALMOND

    FIRST VICE CHAIR, FINANCE AND AUDIT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • STEVE HODGE

    SECOND VICE CHAIR, ADVANCEMENT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ED HOLLAND

    BOARD DEVELOPMENT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CASEY COOPER

    CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • MARY ARBAUGH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DOUG BAILEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ED BROADWELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BEN COMM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TERRY FORTNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEFF GOSS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CONNIE HAIRE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LISA HILL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KEN MARTIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVID MOORE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PAXTON MYERS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LARRY NAYLOR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBIN PATE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRANDON ROBINSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RON SINK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JUDY STROUD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GAYLE WATKINS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RANDY WHITE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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

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
2024
Filed
4 February 2026
IRS schema version
2024v5.5
Source object
202620419349301617

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