2024-02-20T10:34:13-06:00 2023-06-30 581433845 FRAZIER & DEETER LLC 1230 PEACHTREE STREET NE SUITE 1500 ATLANTA GA 30309 990 2022-07-01 873871908 PROJECT KITTY HAWK INC PROJ 4048443649 101 GLEN LENNOX DRIVE SUITE 300 CHAPEL HILL NC 27517 WILLIAM ZEMP PRESIDENT 4048443649 2024-02-09 1 WILLIAM ZEMP 999009999 0 KAUMIL SHAH P01516590 4042537500 2024-02-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WILLIAM ZEMP 101 GLEN LENNOX DRIVE SUITE 300 CHAPEL HILL NC 27517 41232650 0 X WWW.PROJECTKITTYHAWK.COM X 2021 NC TO PROVIDE TECHNOLOGY AND ONLINE EDUCATION SERVICES TO UNC INSTITUTIONS TO MEET THE NEEDS OF ADULT LEARNERS. 9 9 29 0 0 0 4002500 41000000 0 0 0 227747 0 3774 4002500 41231521 0 0 0 0 612463 5836556 0 0 144191 334179 10824207 946642 16660763 3055858 24570758 3180964 30069308 391773 2442694 2789191 27626614 TO PROVIDE TECHNOLOGY AND ONLINE EDUCATION SERVICES TO UNIVERSITY OF NORTH CAROLINA INSTITUTIONS TO MEET THE NEEDS OF ADULT LEARNERS AND TO EXPAND ACCESSIBILITY TO HIGHER EDUCATION FOR TRADITIONALLY UNDERSERVED POPULATIONS. 0 0 12791612 THE ORGANIZATION DEVELOPED STRATEGY TO ACCELERATE APPROVAL OF PROGRAM'S EDUCATIONAL INSTITUTIONS AND TO ASSIST FUTURE ENROLLMENT OF 422 STUDENTS THROUGH THE ORGANIZATION'S ENROLLMENT PROGRAM. THE ORGANIZATION IS ON TRACK TO LAUNCH NINE PROGRAMS DURING 2024 AT VARIOUS EDUCATIONAL INSTITUTIONS. 12791612 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 9 0 29 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X RAE WILLIAMS 4048443649 101 GLEN LENNOX DRIVE SUITE 300 CHAPEL HILL NC 27517 RAY CAREY DIRECTOR 3.00 X 0 0 0 SUSAN CATES DIRECTOR 3.00 X 0 0 0 SHARON GABER DIRECTOR 3.00 X 0 0 0 JOHN COMLY DIRECTOR 3.00 X 0 0 0 COURTNEY CROWDER DIRECTOR 3.00 X 0 0 0 FRANK GILLIAM DIRECTOR 3.00 X 0 0 0 PHILIP ROGERS DIRECTOR 3.00 X 0 0 0 PETER HANS DIRECTOR 3.00 X 0 0 0 RANDY RAMSEY DIRECTOR 3.00 X 0 0 0 NANCY CABLE DIRECTOR 3.00 X 0 0 0 WILLIAM ZEMP PRESIDENT 40.00 X 390676 0 18963 ELIZA GOODSPEED CHIEF OF STAFF 40.00 X 134126 0 8711 RAE WILLIAMS CHIEF FINANCIAL OFFICER 0.00 X 0 0 0 ANDREW BAGLEY DIRECTOR OF STRATEGY & BUSINESS DEVELOPMENT 40.00 X 124278 0 8991 CHRISTOPHER BOYD DIRECTOR OF GENERAL OPS 40.00 X 124278 0 5521 BRIAN FLEMING DIRECTOR OF STRATEGY & BUSINESS DEVELOPMENT 40.00 X 124169 0 10858 897527 0 53044 5 0 1 0 0 41000000 41000000 227184 227184 1692 1129 563 563 563 MISCELLANEOUS REVENUE 900099 3774 3774 3774 41231521 4337 0 227184 X 2904400 1481836 1351435 71129 1561980 796928 726799 38253 669545 669545 115824 59094 53893 2837 242137 123539 112668 5930 342670 174832 159446 8392 66445 66445 329548 329548 5691509 5229908 461601 3636311 3610848 25463 114101 23174 84334 6593 491033 425171 63788 2074 97614 97614 257205 131227 119679 6299 11946 6095 5558 293 13965 2281 11575 109 PAYROLL FEES 53973 27537 25114 1322 TELEPHONE AND INTERNET 39214 20007 18247 960 DUES AND SUBSCRIPTIONS 14831 7930 6901 BANK FEES 3404 3404 3108 1660 1448 16660763 12791612 3724960 144191 2616835 5131207 18163856 529211 972572 34427 12583 34918 21844 0 5758836 0 20993 3180964 30069308 391496 2442694 277 0 391773 2442694 X 0 0 0 0 2789191 27626614 2789191 27626614 3180964 30069308 X 24570758 93331 173334 X X 0 1 X 1 1 1 X 4002500 41000000 45002500 4002500 41000000 45002500 45002500 227184 227184 3774 3774 45233458 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 34427 12583 21844 21844 X 41231521 0 41231521 0 41231521 16487429 0 16487429 173334 173334 16660763 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION QUALIFIES AS AN EXEMPT PUBLIC FOUNDATION. THE ORGANIZATION RECOGNIZES THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITY BASED ON TECHNICAL MERITS OF THE POSITION. AS OF JUNE 30, 2023, THERE ARE NO KNOWN ITEMS WHICH WOULD RESULT IN A MATERIAL ACCRUAL RELATED TO FEDERAL OR STATE TAX POSITIONS. PART XII, LINE 4B - OTHER ADJUSTMENTS: ACCRUED PAYROLL 173,334. X X 0 0 0 0 0 0 0 0 0 WILLIAM ZEMP PRESIDENT 300676 0 90000 0 0 0 7538 0 11425 0 409639 0 0 0 ADAM ZEMP NEPHEW OF WILLIAM ZEMP (OFFICER) 65086 EMPLOYEE OF THE ORGANIZATION 0 TRAVIS GOODSPEED OFFICER SPOUSE OF ELIZA GOODSPEED 121618 EMPLOYEE OF THE ORGANIZATION 0 FORM 990, PART VI, SECTION A, LINE 6 THE UNIVERSITY OF NORTH CAROLINA SYSTEM ("UNC") IS THE SOLE SHAREHOLDER OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S BOARD OF DIRECTORS CONSIST OF NINE MEMBERS, INCLUDING THE PRESIDENT OF THE UNIVERSITY OF NORTH CAROLINA SYSTEM ("UNC") AND THE CHAIR OF THE BOARD OF GOVERNORS OF UNC. THE REMAINING SEVEN MEMBERS SHALL BE APPOINTED BY THE BOARD OF GOVERNORS OF UNC IN CONSULTATION WITH THE PRESIDENT OF UNC, AND MUST INCLUDE THREE MEMBERS WHO SERVED AS CHANCELLORS OR CHIEF ACADEMIC OFFICERS OF CONSTITUENT INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA, GIVING UNC EFFECTIVE CONTROL OVER THE ORGANIZATION'S ACTIVITIES. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS AND THE MANAGEMENT TEAM REVIEW FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICT OF INTEREST ANNUALLY AND AS THEY ARISE DURING THE YEAR. FOR ALL OTHER EMPLOYEES, THE ORGANIZATION CONDUCTS A REVIEW EVERY QUARTER. FORM 990, PART VI, SECTION B, LINE 15 ANY PROPOSED ADJUSTMENTS TO COMPENSATION FOR KEY EMPLOYEES ARE REVIEWED BY THE PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS. THE COMPENSATION PACKAGE REQUIRES APPROVAL BY THE BOARD OF DIRECTORS. THE COMPENSATION AND BENEFIT PACKAGES ARE REVIEWED BY OUTSIDE HR CONSULTANTS TO ENSURE CONSISTENCY, INTERNAL EQUITY, AND SALARY MARKET RELEVANCE. UNC ALSO REVIEWED THE HIRING OF KEY EMPLOYEES DURING THE FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 1,683,957. MANAGEMENT AND GENERAL EXPENSES 146,431. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,830,388. TECHNOLOGY CONSULTANTS: PROGRAM SERVICE EXPENSES 3,537,233. MANAGEMENT AND GENERAL EXPENSES 307,585. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,844,818. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 8,718. MANAGEMENT AND GENERAL EXPENSES 7,585. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,303. FORM 990, PART XI, LINE 9: ACCRUED PAYROLL 173,334. THE UNIVERSITY OF NORTH CAROLINA SYSTEM 223 S WEST STREET SUITE 1800 RALEIGH NC 27603 566172047 UNIVERSITY NC 501(C)(3) LINE 2 YES 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0