2025-12-04T13:24:57-06:00 2025-06-30 844233121 SHARPE PATEL CPA 5510 SIX FORKS ROAD SUITE 140 RALEIGH NC 27609 990 2024-07-01 043587582 WESTERN CAROLINA UNIVERSITY RESEARCH & DEVELOPMENT CORPORATION WEST 8282273108 HFR ADMINISTRATION BLDG 400 CULLOWHEE NC 28723 PAT KAEMMERLING CHAIR 8282273108 2025-12-04 1 1 REBECCA FISHER P01690017 7044993893 2025-12-04 2024 2025-03-06 01:10:19Z PAT KAEMMERLING HFR ADMINISTRATION BLDG 400 CULLOWHEE NC 28723 2243952 0 X N/A X 2003 NC AID AND PROMOTE EDUCATION AND CHARITY 6 6 0 6 0 0 0 0 761144 768373 1586050 1475598 -12 -19 2347182 2243952 0 0 0 0 0 0 0 0 0 1784069 1685365 1784069 1685365 563113 558587 48587865 46412078 43228232 40493858 5359633 5918220 TO AID AND PROMOTE EDUCATION AND CHARITABLE ACTIVITIES AT WESTERN CAROLINA UNIVERSITY. 0 0 1678134 2243952 TO AID AND PROMOTE THE EDUCATIONAL AND CHARITABLE PURPOSES AND LAWFUL ACTIVITIES OF WESTERN CAROLINA UNIVERSITY, A CONSTITUENT INSTITUTION OF THE UNIVERSITY OF NORTH CAROLINA. 1678134 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 0 0 0 NC X MICHAEL T BYERS 8282273108 HFR ADMINISTRATION BLDG 400 CULLOWHEE NC 28723 X PAT KAEMMERLING CHAIR 1.00 0.00 X X 0 0 0 BRYANT KINNEY VICE CHAIR 1.00 0.00 X X 0 0 0 KELLI BROWN PRESIDENT 1.00 0.00 X X 0 0 0 MICHAEL T BYERS TREASURER 1.00 0.00 X X 0 0 0 RICHARD STARNES DIRECTOR 1.00 0.00 X 0 0 0 SAM MILLER DIRECTOR 1.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 MANAGEMENT FEE 900099 768373 768373 768373 1211843 1211843 263755 263755 IMAF PASS-THROUGH LOSS 900099 -19 -19 -19 2243952 2243952 0 0 7231 7231 1415869 1415869 261877 261877 ANNUAL FILING FEES 200 200 MISCELLANEOUS 188 188 1685365 1678134 7231 0 531902 565153 5046402 5512048 456942 444899 40290725 37750790 256183 265315 6035 8253 1999676 1865620 48587865 46412078 124482 116366 40085000 37595000 3018750 2782492 43228232 40493858 X 725266 772647 4634367 5145573 5359633 5918220 48587865 46412078 558587 0 X 0 1 X 0 0 X X 1 WESTERN CAROLINA UNIVERSITY 566001440 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 UNAMORTIZED PREMIUM ON BONDS 2243374 DEFERRED INFLOW OF RESOURCES 539118 2782492 X PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. CONTINUANCE OF THE EXEMPTION IS SUBJECT TO COMPLIANCE WITH REGULATIONS AND REVIEW OF ACTIVITIES BY TAXING AUTHORITIES. THE CORPORATION IS NOT AWARE OF ANY TRANSACTIONS THAT WOULD AFFECT ITS TAX-EXEMPT STATUS. THE CORPORATION'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, FOR THE YEARS ENDED JUNE 30, 2022, 2023, 2024, AND 2025 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. THE CORPORATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. A WESTERN CAROLINA UNIVERSITY RESEARCH & DEVELOPMENT CORP 043587582 000957897 2015-04-30 8035000 SEE PART VI 0 0 0 B WESTERN CAROLINA UNIVERSITY RESEARCH & DEVELOPMENT CORP 043587582 000957897 2016-04-27 38375000 SEE PART VI 0 0 0 C WESTERN CAROLINA UNIVERSITY RESEARCH & DEVELOPMENT CORP 043587582 00958003A 2023-05-04 5695000 SEE PART VI 0 0 0 A 3655000 8035000 8035000 2015 1 0 0 1 B 7880000 38375000 38375000 2016 0 1 0 1 C 485000 5695000 5562958 132042 2023 1 0 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 SCHEDULE K - PURPOSE OF ISSUE DESCRIPTION WESTERN CAROLINA UNIVERSITY RESEARCH REFUNDED THE 2005 CERTIFICATES OF PARTICIPATION BONDS (FY 2015) WESTERN CAROLINA UNIVERSITY RESEARCH REFUNDED THE 2008 CERTIFICATES OF PARTICIPATION BONDS (FY 2016) WESTERN CAROLINA UNIVERSITY RESEARCH REFINANCED THE UNIVERSITY'S PAYMENT OBLIGATIONS REPRESENTED BY THE COMPANY'S LIMITED OBLIGATION BONDS (WESTERN CAROLINA UNIVERSITY STUDENT HOUSING PROJECT), SERIES 2013 (THE "2013 BONDS"). THE PROCEEDS OF THE 2023 BONDS WERE USED TO: (1) REFUND THE 2013 BONDS SCHEDULED TO MATURE ON OR AFTER JUNE 1, 2023 (SUCH PORTION TO BE REFUNDED, THE "REFUNDED BONDS"), AND (2) PAY THE COSTS ASSOCIATED WITH THE EXECUTION AND DELIVERY OF THE 2023 BONDS (THE "COSTS OF ISSUANCE"). FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 IS PROVIDED TO EACH BOARD MEMBER VIA EMAIL FOR THEIR REVIEW AND COMMENT. APPROVAL OF THE FINAL FORM 990 IS RECEIVED FROM EACH BOARD MEMBER VIA EMAIL AND RETAINED IN THE ANNUAL ACCOUNTING RECORDS. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS AVAILABLE UPON REQUEST. AFFINITY HOUSING LLC 315 HFR ADMINISTRATION BUILDING CULLOWHEE NC 28723 331068320 HOUSING NC 252144 6366773 WCU R&D CORP WESTERN CAROLINA UNIVERSITY 460 HFR ADMINISTRATION BUILDING CULLOWHEE NC 28273 566001440 EDUCATION NC N/A 0 CORPORATION FOR ENTREPRENEURSHIP & INNOVATION LLC 124 FORSYTH BLDG CULLOWHEE NC 28723 474518792 BUSINESS DEVELOPMENT NC WCU R&D CORP C 85050 9487 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 WESTERN CAROLINA UNIVERSITY S 768373 MANAGEMENT FEES RECEIVED WESTERN CAROLINA UNIVERSITY S 1211843 CAPITAL LEASE PAYMENTS