2024-12-18T13:54:53-06:00 2024-06-30 561031342 WILLIAMS OVERMAN PIERCE LLP 2501 ATRIUM DRIVE SUITE 500 RALEIGH NC 27607 990 2023-07-01 566035544 NORTH CAROLINA STATE UNIVERSITY ALUMNI ASSOCIATION INC NORT 9195137149 NCSU BOX 7207 RALEIGH NC 27695 ERIN DELEHANTY ASST TREASURER 9195137149 2024-12-18 1 1 MARYELLEN PRANCE CPA P01662078 9197823444 2024-12-18 X 2023 2024-10-15 13:58:12Z ERIN DELEHANTY NCSU BOX 7207 RALEIGH NC 27695 6939478 0 X SEE SCHEDULE O X 1952 NC SEE SCHEDULE OTHE NC STATE ALUMNI ASSOCIATION ENGAGES ALUMNI AND FRIENDS THROUGH PROGRAMS AND SERVICES THAT FOSTER PRIDE AND ENHANCE A LIFELONG CONNECTION TO NC STATE UNIVERSITY ("NC STATE"). 18 17 0 26 4350 0 4120331 3052669 478783 586213 1585369 1815582 194976 210987 6379459 5665451 1025914 1182457 0 0 746431 763555 0 0 1386767 2267352 2128354 4039697 4074366 2339762 1591085 62979501 69642342 195442 109922 62784059 69532420 THE NC STATE ALUMNI ASSOCIATION ENGAGES ALUMNI AND FRIENDS THROUGH PROGRAMS AND SERVICES THAT FOSTER PRIDE AND ENHANCE A LIFELONG CONNECTION TO NC STATE UNIVERSITY ("NC STATE"). 0 0 2430206 1182457 581863 NCSU ALUMNI ASSOCIATION PUBLISHES AN ALUMNI MAGAZINE, SERVES AS AN ORGANIZER FOR ALUMNI FUNCTIONS, AWARDS SCHOLARSHIPS AND PROMOTES AWARENESS OF NCSU IN THE COMMUNITY. 2430206 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 4 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ERIN DELEHANTY 9195137149 NCSU BOX 7207 RALEIGH NC 27695 LYDENISE BERDECIA-RIVERA DIRECTOR 1.00 X 0 0 0 SUSAN BROOKS DIRECTOR 1.00 X 0 0 0 CHARLES DURANT DIRECTOR 1.00 X 0 0 0 EDWIN FOULKE DIRECTOR 1.00 X 0 0 0 DAVID HOLM DIRECTOR 1.00 X 0 0 0 KELLY HOOK DIRECTOR 1.00 X 0 0 0 KRISTEN KHAVARI DIRECTOR 1.00 X 0 0 0 GED KING DIRECTOR 1.00 X 0 0 0 JANE MONACO DIRECTOR 1.00 X 0 0 0 QUAUHTLI OLIVIERI-HERRERA DIRECTOR 1.00 X 0 0 0 WILLIAM QUICK DIRECTOR 1.00 X 0 0 0 SAMANTHA WARREN DIRECTOR 1.00 X 0 0 0 ANGELO WILLIAMS DIRECTOR 1.00 X 0 0 0 RYAN DEJONG VICE PRESIDENT 1.00 X X 0 0 0 ANDREA DUHON SECRETARY/TREASURER 1.00 X X 0 0 0 RYAN HESTER PRESIDENT 1.00 X X 0 0 0 KATHERINE STOWE IMMEDIATE PAST PRESIDENT 1.00 X X 0 0 0 RESHUNDA MAHONE EXECUTIVE DIRECTOR & ASST SECRETARY 1.00 40.00 X X 0 293435 47180 DEREK BRYAN EX-OFFICIO, ASSISTANT TREASURER 1.00 40.00 X 0 165567 48112 ERIN DELEHANTY EX-OFFICIO, ASSISTANT TREASURER 1.00 40.00 X 0 188285 53735 DANA R HARRIS EX-OFFICIO, ASSISTANT TREASURER 1.00 40.00 X 0 279586 76575 BRIAN SISCHO DIRECTOR 1.00 40.00 X 0 621677 52973 0 1548550 278575 0 0 1 0 0 24762 27500 500000 2500407 159641 3052669 OTHER PROGRAMS 900099 275138 275138 TRAVEL PROGRAM 900099 181524 181524 EVENTS 900099 125201 125201 ALUMNI MAGAZINE AND ADVERTISING 541800 4350 4350 586213 65058 65058 64024 64024 2880910 1130386 1750524 1750524 1750524 20830 27500 143641 -122811 -122811 NC STATE CLUB 900099 269774 269774 269774 5665451 581863 4350 2026569 1182457 1182457 763555 624 762931 58000 58000 1072 1072 49964 35838 353 13773 56135 1608 54527 165593 154691 152 10750 103495 85660 4231 13604 45052 2189 42863 SERVICES & FEES 903673 323351 61393 518929 CONTRACTED SERVICES 243529 227799 15730 EQUIPMENT RENTAL & MAIN 213425 147727 51777 13921 SUPPLIES 199287 192881 3546 2860 89129 74933 7060 7136 4074366 2430206 257393 1386767 3558323 3833264 329106 1520665 2119338 2119338 0 0 58860993 64047019 231079 241394 62979501 69642342 94035 0 101407 109922 195442 109922 X 15303896 16230566 47480163 53301854 62784059 69532420 62979501 69642342 X 1591085 5156819 457 X X 0 1 X 1 0 X 1533604 1657094 2359432 4120331 3052669 12723130 1815000 1881000 1868000 1779000 1095000 8438000 3348604 3538094 4227432 5899331 4147669 21161130 1860948 19300182 365991 530314 243801 184658 129082 1453846 106734 35000 68954 199422 269774 679884 23294860 1840166 0.82850 0.85820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 59031923 2346573 6865016 2847931 65395581 60316291 727477 615585 2627430 59031923 59392943 1797454 1772263 2646369 60316291 43816208 810175 16990929 2224369 59392943 44149859 878827 913189 2125667 43816208 0.24788 0.40685 0.34527 0 0 660450 660450 0 1458888 1458888 0 0 NC STATE INVESTMENT FUND, INC. 63935794 F LIFE INCOME FUNDS 111125 F STIF 100 F 64047019 LIFE INCOME FUNDS PAYABLE 81413 DUE TO ASSOCIATED ENTITIES 4131 LEASE OBLIGATIONS 24378 109922 X 12058473 5156819 1095000 -2438 6249381 5809092 -143641 -143641 5665451 5313007 1095000 143641 1238641 4074366 0 4074366 PART V, LINE 4: THE ASSOCIATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 160 INDIVIDUAL FUNDS ESTABLISHED FOR CALDWELL SCHOLARSHIPS AND A VARIETY OF OTHER PURPOSES RELATED TO THE MISSION OF THE UNIVERSITY. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ASSOCIATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ASSOCIATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO TAX YEAR 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: DECREASE IN VALUE OF SPLIT INTEREST -2,438. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH REVENUE -143,641. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH REVENUE 143,641. EVENING OF THE STARS 30375 27500 2875 20749 20095 10827 58206 LEGACY LUNCHEON 8040 8040 9595 3100 628 1 9915 9915 1938 18503 48330 27500 20830 30344 22033 13927 77337 143641 -122811 1 NORTH CAROLINA STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 170(C)(1) 1182457 0 BOOK VALUE N/A SCHOLARSHIPS AND OTHER UNIVERSITY SUPPORT PART I, LINE 2: GRANTS REPRESENT REIMBURSEMENT OF SCHOLARSHIP EXPENSES PROCESSED THROUGH THE UNIVERSITY'S ACCOUNTING SYSTEMS, AND ARE SUBJECT TO UNIVERSITY AND STATE OF NORTH CAROLINA GUIDELINES, IN ADDITION TO ANY RESTRICTIONS PLACED DIRECTLY BY DONORS. X 0 0 0 0 0 0 0 0 0 BRIAN SISCHO DIRECTOR 0 496852 0 0 0 124825 0 45864 0 7109 0 674650 0 0 DANA R HARRIS EX-OFFICIO, ASSISTANT TREASURER 0 277750 0 0 0 1836 0 69466 0 7109 0 356161 0 0 RESHUNDA MAHONE EXECUTIVE DIRECTOR & ASST SECRETARY 0 249900 0 0 0 43535 0 40071 0 7109 0 340615 0 0 ERIN DELEHANTY EX-OFFICIO, ASSISTANT TREASURER 0 188285 0 0 0 0 0 46626 0 7109 0 242020 0 0 DEREK BRYAN EX-OFFICIO, ASSISTANT TREASURER 0 165567 0 0 0 0 0 41003 0 7109 0 213679 0 0 X 9 159641 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A EXECUTIVE COMMITTEE 1. THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE PRESIDENT, VICE PRESIDENT, IMMEDIATE PAST PRESIDENT, SECRETARY-TREASURER AND SUCH ADDITIONAL MEMBERS OF THE BOARD AS ARE APPOINTED BY THE PRESIDENT, NOT TO EXCEED TEN. MEMBERS OF THE EXECUTIVE COMMITTEE SHALL SERVE UNTIL DECEMBER 31 OF THE CURRENT YEAR OR UNTIL THEIR SUCCESSORS ARE DULY CHOSEN AND QUALIFIED. THE EXECUTIVE DIRECTOR SHALL BE A MEMBER. 2. THE EXECUTIVE COMMITTEE SHALL POSSESS AND IS AUTHORIZED TO EXERCISE ALL POWERS OF THE BOARD OF DIRECTORS AND SHALL BE RESPONSIBLE FOR CONDUCT AND AFFAIRS OF THE ASSOCIATION IN THE INTERIM BETWEEN BOARD MEETINGS, EXCEPT THE FOLLOWING: ARTICLE III, SECTION 1 B- ELECTION OF HONORARY MEMBERS ARTICLE III, SECTION 3A- FILLING VACANCIES AMONG ELECTED OFFICERS ARTICLE VII, SECTION 2- ADMINISTRATION AND MANAGEMENT OF PERMANENT FUNDS ARTICLE VII, SECTION 3- MAKING AGREEMENTS RELATIVE TO GIFTS OR BEQUESTS ARTICLE VIII- ADOPTING OR AMENDING BYLAWS 3. THE EXECUTIVE COMMITTEE SHALL MEET AT SUCH TIME AND PLACE AS MAY BE DESIGNATED BY THE PRESIDENT. NOTICE OF THE MEETING OF THE EXECUTIVE COMMITTEE SHALL BE COMMUNICATED TO MEMBERS THROUGH COMMONLY ACCEPTED COMMUNICATION METHODS (E-MAIL, MAIL, FAX , TELEPHONE) AT LEAST FIVE DAYS IN ADVANCE OF SUCH MEETING. IF THE COMMITTEE MEETS BY TELECONFERENCE, NOTICE SHALL BE ISSUED TO THE MEMBERS AS SOON AS POSSIBLE IN ADVANCE OF THE TELECONFERENCE. TWO-THIRDS OF THE EXECUTIVE COMMITTEE MEMBERS SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF OFFICIAL BUSINESS AND AN AFFIRMATIVE VOTE OF THE SIMPLE MAJORITY WILL CONSTITUTE AN ACT OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL ALSO BE EMPOWERED TO ACT BY THE WRITTEN CONSENT OF THE SIMPLE MAJORITY OF THE EXECUTIVE COMMITTEE, ALTHOUGH NOT FORMALLY CONVENED. IN THE EVENT THE EXECUTIVE COMMITTEE SHALL BE EQUALLY DIVIDED ON ANY MATTER, SUCH MATTER SHALL BE REFERRED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT 990 IS DISTRIBUTED TO THE AUDIT & INVESTMENT COMMITTEE FOR THEIR REVIEW AND IS MADE AVAILABLE TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH BOARD MEETING, THE PRESIDENT OF THE BOARD READS THE FOLLOWING ETHICS POLICY: " AS CHAIR OF THE ALUMNI ASSOCIATION, IT IS MY RESPONSIBILITY TO REMIND ALL MEMBERS OF THE COMMITTEE OF THEIR DUTY UNDER THE STATE GOVERNMENT ETHICS ACT TO AVOID CONFLICTS OF INTEREST AND APPEARANCES OF CONFLICT OF INTEREST AS REQUIRED BY THIS ACT. EACH MEMBER HAS RECEIVED THE AGENDA AND RELATED INFORMATION FOR THIS MEETING. IF ANY MEMBER KNOWS OF ANY CONFLICT OF INTEREST OR APPEARANCE OF CONFLICT WITH RESPECT TO ANY MATTER COMING BEFORE THE ALUMNI ASSOCIATION AT THIS MEETING, THE CONFLICT OR APPEARANCE OF CONFLICT SHOULD BE IDENTIFIED AT THIS TIME." IF A CONFLICT IS IDENTIFIED, THE MEMBER WHO HAS THE CONFLICT SHOULD RECUSE HIMSELF OR HERSELF FROM ANY DISCUSSION OR CONSIDERATION OF THE AGENDA ITEM. RECUSAL MEANS LEAVING THE ROOM AND NOT PARTICIPATING IN ANY DISCUSSION OR CONSIDERATION OF THE AGENDA ITEM. THE BOARD CHAIR SHOULD SEE THAT THIS OCCURS BEFORE ANY DISCUSSION OF THE ITEM PRESENTING THE CONFLICT OR APPEARANCE OF CONFLICT TAKES PLACE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS AND OFFICERS OF NORTH CAROLINA STATE UNIVERSITY ALUMNI ASSOCIATION THAT DO RECEIVE COMPENSATION ARE COMPENSATED BY NC STATE UNIVERSITY, A 170(C)(1) ORGANIZATION RELATED TO NORTH CAROLINA STATE UNIVERSITY ALUMNI ASSOCIATION. NC STATE UNIVERSITY SETS THE COMPENSATION OF THESE EMPLOYEES BY ACQUIRING COMPARABILITY DATA WHICH IS REVIEWED AND APPROVED BY INDEPENDENT PERSONS WITH CONTEMPORANEOUS SUBSTANTIATION OF THE DECISION. FORM 990, PART VI, SECTION C, LINE 18 THE 990 IS LISTED ON THE WEBSITE. FORM 1023 (WHICH WAS FILED PRIOR TO JULY 15, 1987) IS NOT PUBLICLY AVAILABLE. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE - HTTPS://AEOPERATIONS.OFA.NCSU.EDU/NORTH-CAROLINA-STATE-UNIVERSITY-ALUMNI-ASS OCIATION-INC/. OTHER GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: DECREASE IN VALUE OF SPLIT INTEREST AGREEMENT -2,438. NET TRANSFERS 2,895. FORM 990, PART XII, LINE 2C: PROCESS DID NOT CHANGE FROM PRIOR YEAR. PAGE 1, ITEM J WEBSITE - HTTPS://AEOPERATIONS.OFA.NCSU.EDU/NORTH-CAROLINA-STATE-UNIVERSITY-ALUMNI -ASSOCIATION-INC/ FORM 990, PART VII, SECTION A BYLAWS WERE AMENDED AS OF MARCH 19, 2024 AS FOLLOWS: ARTICLE III SECTION 3C: THE ASSOCIATE VICE CHANCELLOR FOR FINANCE AND UNIVERSITY TREASURER AND THE ASSISTANT VICE CHANCELLOR FOR FINANCE, ADMINISTRATION, AND TALENT MANAGEMENT, SECRETARY, NC STATE UNIVERSITY FOUNDATION INC. SHALL SERVE EX-OFFICIO AS ASSISTANT TREASURERS OF THE ASSOCIATION WITHOUT A VOTE. ARTICLE III SECTION 3J: NO AUTHORITY IS GIVEN TO SIGN CONTRACTS ON BEHALF OF NC STATE UNIVERSITY, UNLESS SUCH AUTHORITY IS DELEGATED TO HIM/HER BY THE EXECUTIVE VICE CHANCELLOR FOR FINANCE AND ADMINSTRATION. NC STATE UNIVERSITY FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 566049503 SUPPORTS THE VARIOUS COLLEGES WITHIN THE UNIVERSITY NC 501(C)(3) LINE 5 N/A 0 NC STATE UNIVERSITY NCSU BOX 7205 RALEIGH NC 27695 566000756 EDUCATION NC 170(C)(1) N/A 0 NC STATE ALUMNI CLUB INC 2450 ALUMNI DRIVE RALEIGH NC 27606 204145790 PROVIDES DINING FACILITY FOR NCSU ALUMNI AND STAFF NC 501(C)(7) N/A 0 NC STATE UNIVERSITY STUDENT AID ASSOCIATION INC PO BOX 37100 RALEIGH NC 27627 560650623 SUPPORTS ATHLETIC PROGRAM AT NCSU NC 501(C)(3) LINE 5 N/A 0 NC STATE ENGINEERING FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 566046987 SUPPORTS THE COLLEGE OF ENGINEERING AT NCSU NC 501(C)(3) LINE 5 N/A 0 THE NORTH CAROLINA AGRICULTURAL FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 566049304 SUPPORTS THE COLLEGE OF AGRICULTURE AND LIFE SCIENCES AT NCSU NC 501(C)(3) LINE 5 N/A 0 NC STATE INVESTMENT FUND INC NCSU BOX 7207 RALEIGH NC 27606 311607634 INVEST FUNDS OF NC STATE UNIVERSITY AND RELATED ENTITIES NC 501(C)(3) LINE 12C, III-FI N/A 0 NC STATE NATURAL RESOURCES FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 560653350 SUPPORTS THE COLLEGE OF NATURAL RESOURCES AT NCSU NC 501(C)(3) LINE 5 N/A 0 NC STATE UNIVERSITY COLLEGE OF SCIENCES FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 581524289 SUPPORTS THE COLLEGE OF SCIENCES AT NCSU NC 501(C)(3) LINE 5 N/A 0 NORTH CAROLINA VETERINARY MEDICAL FOUNDATION INC NCSU BOX 7207 RALEIGH NC 27695 581344473 PROVIDES FINANCIAL SUPPORT IN THE FIELD OF VETERINARY MEDICINE NC 501(C)(3) LINE 5 N/A 0 NC STATE UNIVERSITY PARTNERSHIP CORPORATION NCSU BOX 7207 RALEIGH NC 27695 561444287 SUPPORT ORGANIZATION OF NC STATE UNIVERSITY NC 501(C)(3) LINE 12C, III-FI N/A 0 NORTH CAROLINA TEXTILE FOUNDATION INC NCSU BOX 8301 RALEIGH NC 27695 566045324 AIDS EDUCATION & RESEARCH IN THE COLLEGE OF TEXTILES AT NCSU NC 501(C)(3) LINE 5 N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1