Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $15,524,162

• 1d · Related organizations

  $17,037,212

• 1f · All other contributions, gifts and grants

  $43,672,776

• 1g · Noncash contributions included above

  $7,107,668

• 3 · Investment income

  total $655,618 · excluded $655,618

• 7a · Gross sales of assets other than inventory

  securities $4,888,205

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

  securities $0

• 7c · Gain or loss

  securities $4,888,205

• 7d · Net gain or loss

  total $4,888,205 · excluded $4,888,205

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $61,422,982 · program services $61,422,982

• 5 · Compensation of officers, directors and key employees

  total $1,502,993 · program services $749,689 · management and general $365,533 · fundraising $387,771

• 7 · Other salaries and wages

  total $3,125,383 · program services $1,558,933 · management and general $760,103 · fundraising $806,347

• 8 · Pension plan contributions

  total $292,988 · program services $147,054 · management and general $69,229 · fundraising $76,705

• 10 · Payroll taxes

  total $277,019 · program services $139,039 · management and general $65,456 · fundraising $72,524

• 11b · Fees: legal

  total $36,796 · management and general $36,796

• 11c · Fees: accounting

  total $104,464 · management and general $104,464

• 11e · Fees: professional fundraising services

  total $49,588 · fundraising $49,588

• 11f · Fees: investment management

  total $420,286 · management and general $420,286

• 11g · Fees: other

  total $154,753 · management and general $18,807 · fundraising $135,946

• 12 · Advertising and promotion

  total $809,503 · program services $259,874 · management and general $81,073 · fundraising $468,556

• 13 · Office expenses

  total $195,323 · program services $91,449 · management and general $56,173 · fundraising $47,701

• 14 · Information technology

  total $129,462 · program services $40,265 · management and general $85,208 · fundraising $3,989

• 17 · Travel

  total $291,253 · program services $173,443 · management and general $28,905 · fundraising $88,905

• 19 · Conferences, conventions and meetings

  total $148,346 · program services $74,456 · management and general $35,052 · fundraising $38,838

• 20 · Interest

  total $3,110,671 · program services $3,110,671

• 22 · Depreciation, depletion and amortization

  total $36,740 · management and general $36,740

• 23 · Insurance

  total $209,529 · program services $105,165 · management and general $49,509 · fundraising $54,855

• 24a · Other expenses: GAME DAY EXPENSES

  total $2,499,058 · program services $949,642 · fundraising $1,549,416

• 24b · Other expenses: BAD DEBT

  total $1,596,875 · management and general $1,596,875

• 24c · Other expenses: TRANSPORTATION

  total $984,226 · program services $984,226

• 24d · Other expenses: STEWARDSHIP

  total $230,783 · program services $38,861 · fundraising $191,922

• 24e · All other expenses

  total $1,152,006 · program services $173,573 · management and general $368,410 · fundraising $610,023

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $35,084,902 · end of year $39,632,112

• 3 · Pledges and grants receivable

  beginning of year $51,915,138 · end of year $47,392,435

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,252,977 · end of year $4,164,310

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

  $699,870

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

  $516,184

• 10c · Land, buildings and equipment, net

  beginning of year $94,503 · end of year $183,686

• 12 · Investments: other securities

  beginning of year $108,469,196 · end of year $110,332,636

• 15 · Other assets

  beginning of year $10,420,872 · end of year $11,625,941

• 17 · Accounts payable and accrued expenses

  beginning of year $1,674,170 · end of year $5,092,472

• 19 · Deferred revenue

  beginning of year $680,740 · end of year $778,753

• 20 · Tax-exempt bond liabilities

  beginning of year $69,223,902 · end of year $63,545,976

• 23 · Secured mortgages and notes payable

  beginning of year $10,165,150 · end of year $6,693,832

• 24 · Unsecured notes and loans payable

  beginning of year $27,467,150 · end of year $40,166,340

• 25 · Other liabilities

  beginning of year $5,812,280 · end of year $3,822,344

• 27 · Net assets without donor restrictions

  beginning of year -$42,494,424 · end of year -$24,546,932

• 28 · Net assets with donor restrictions

  beginning of year $137,708,620 · end of year $117,778,335

The filer's explanations (Part III)

FORM 990, SCH J, PART I, LINE 1A

WRITTEN POLICY FOR COMPENSATION CHARTER TRAVEL, TRAVEL FOR COMPANIONS, AND CLUB DUES MAY BE PROVIDED BY THE ORGANIZATION TO CERTAIN MEMBERS OF ITS SENIOR STAFF. ALL TRAVEL PAID FOR BY THE ORGANIZATION OR REIMBURSED TO EMPLOYEES UNDER THE ACCOUNTABLE PLAN IS CONSIDERED TO HAVE A BUSINESS PURPOSE. ANY INDIVIDUAL LISTED ON FORM 990, PART VII MAY HAVE RECEIVED CHARTER TRAVEL OR TRAVEL FOR COMPANIONS. ALL SUCH TRAVEL WAS ASSOCIATED WITH THE ORGANIZATION'S CHARITABLE MISSION AND WAS NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. CERTAIN MEMBERS OF ITS SENIOR STAFF RECEIVED CLUB DUES. THE USE OF SOCIAL CLUB MEMBERSHIPS FOR BUSINESS PURPOSES ARE NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. HOWEVER, THE PORTION RELATED TO PERSONAL USE OF SOCIAL CLUB MEMBERSHIPS IS TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS.

FORM 990, SCH J, PART I, LINE 5A

INCENTIVE COMPENSATION PLAN THE EDUCATIONAL FOUNDATION, INC. MAINTAINS AN INCENTIVE COMPENSATION PLAN COVERING ELIGIBLE EMPLOYEES. THE PLAN IS FORMULA DRIVEN, TRIGGERED BY REACHING FUNDRAISING GOALS ON ANNUAL FUND REVENUES/MEMBERSHIP DUES.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER UNITRUSTS 8

  T · CHARITABLE TRUST · NC