Skip to content
Nonprofiteer
← KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION

Form 990 for tax year 2022

Filed by KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION.

Totals

Total revenue
$44,573,407
Total expenses
$35,966,912
Contributions and grants received
$23,630,348
Grants paid
$35,963,573
Program service revenue
$13,024,000
Investment income
$7,532,907
Other revenue
$386,152
Total assets, end of year
$268,628,293
Total liabilities, end of year
$8,589,226
Net assets or fund balances, end of year
$260,039,067
Program services expenses (Part IX)
$35,963,573
Management and general expenses
$3,339
Fundraising expenses
$0
Program service expenses (Part III)
$35,963,573

Program services were 100.0% 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

    $23,630,348

  • 1g · Noncash contributions included above

    $9,151,472

  • 2a · Program service revenue: EXECUTIVE EDUCATION PROGRAM

    total $13,000,000 · related or exempt $13,000,000

  • 2b · Program service revenue: GLOBAL IMMERSION ELECTIVE

    total $24,000 · related or exempt $24,000

  • 3 · Investment income

    total $7,659,658 · excluded $7,659,658

  • 6b · Less rental expenses

    real property $1,903

  • 6c · Rental income or loss

    real property -$1,903

  • 6d · Net rental income or loss

    total -$1,903 · excluded -$1,903

  • 7a · Gross sales of assets other than inventory

    securities $10,248

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

    securities $136,999

  • 7c · Gain or loss

    securities -$126,751

  • 7d · Net gain or loss

    total -$126,751 · excluded -$126,751

  • 11a · Other revenue: PASS-THROUGH INCOME

    total $209,786 · excluded $209,786

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $178,269 · excluded $178,269

  • 11e · Other revenue, total

    $388,055

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $35,963,573 · program services $35,963,573

  • 24a · Other expenses: FISCAL AGENT COMMISSION

    total $3,339 · management and general $3,339

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,015,719 · end of year $409,084

  • 2 · Savings and temporary cash investments

    beginning of year $58,704,073 · end of year $68,010,179

  • 3 · Pledges and grants receivable

    beginning of year $45,089,041 · end of year $35,347,081

  • 4 · Accounts receivable

    beginning of year $8,794 · end of year $48,229

  • 11 · Investments: publicly traded securities

    beginning of year $154,823,858 · end of year $152,437,571

  • 15 · Other assets

    beginning of year $31,968 · end of year $12,376,149

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,400 · end of year $904,734

  • 25 · Other liabilities

    beginning of year $0 · end of year $7,684,492

  • 27 · Net assets without donor restrictions

    beginning of year $2,562,545 · end of year $2,386,076

  • 28 · Net assets with donor restrictions

    beginning of year $257,083,508 · end of year $257,652,991

Mission and programs · 2022

Mission

PROVIDED FUNDS FOR TEACHING SALARIES, RESEARCH PLANNING & ADMINISTRATION, PLACEMENT OF TEACHERS, AND STUDENT FINANCIAL ASSISTANCE TO SUPPLEMENT THE OPERATIONS OF THE UNC SCHOOL OF BUSINESS.

  • PROVIDED FUNDS FOR TEACHING SALARIES, RESEARCH PLANNING & ADMINISTRATION, PLACEMENT OF TEACHERS, AND STUDENT FINANCIAL ASSISTANCE TO SUPPLEMENT THE OPERATIONS OF THE UNC SCHOOL OF BUSINESS.

    Expenses $35,963,573 · Grants $35,963,573 · Revenue $13,024,000

As filed on the 2022 return.

Listed in Part VII

  • Douglas A Shackelford

    OUTGOING CHAIRPERSON

    Total calculated
    $542,648
    From this org
    $0
    From related orgs
    $467,358
    Other
    $75,290
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $360,115 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $102,243 related
    Deferred
    $0 + $61,344 related
    Nontaxable benefits
    $0 + $13,946 related
    Filer's total
    $0 + $542,648 related

  • Francie Keenan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • Jana Raedy

    TREASURER

    Total calculated
    $593,874
    From this org
    $0
    From related orgs
    $531,219
    Other
    $62,655
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $404,344 related
    Bonus
    $0 + $126,875 related
    Other
    $0
    Deferred
    $0 + $42,182 related
    Nontaxable benefits
    $0 + $20,473 related
    Filer's total
    $0 + $593,874 related

  • Betsy Battle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Steve Cumbie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Darius L Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Shontel Grumhaus

    DIRECTOR

    Total calculated
    $319,771
    From this org
    $0
    From related orgs
    $267,138
    Other
    $52,633
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $254,238 related
    Bonus
    $0 + $12,900 related
    Other
    $0
    Deferred
    $0 + $36,928 related
    Nontaxable benefits
    $0 + $15,705 related
    Filer's total
    $0 + $319,771 related

  • Brian Hogan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Steve Skolsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Shawn Munday

    DIRECTOR

    Total calculated
    $277,818
    From this org
    $0
    From related orgs
    $233,140
    Other
    $44,678
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,140 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $2,000 related
    Deferred
    $0 + $31,627 related
    Nontaxable benefits
    $0 + $13,051 related
    Filer's total
    $0 + $277,818 related

  • Jennifer Conrad

    DIRECTOR

    Total calculated
    $676,708
    From this org
    $0
    From related orgs
    $606,162
    Other
    $70,546
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $548,253 related
    Bonus
    $0 + $33,909 related
    Other
    $0 + $24,000 related
    Deferred
    $0 + $62,235 related
    Nontaxable benefits
    $0 + $8,311 related
    Filer's total
    $0 + $676,708 related

  • Brien White

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Tom Cawley

    SECRETARY

    Total calculated
    $143,572
    From this org
    $0
    From related orgs
    $105,734
    Other
    $37,838
    Hours/week
    0.1 + 40 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.

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.

  • EXECUTIVE EDUCATION LLC

    EDUCATION · NC · income $13,000,000

    Directly controlled by THE KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202411349349301836

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.