East Carolina University Educational Foundation Inc
- Assets
- $33.1m
- Revenue
- $12.0m
- Investments
- $2.4m
- Employees
- 0
- Location
- Greenville, NC
- Founding
- 06/1950
- Data as of
- 06/2022
- EIN
- 56-6061192
Organization Overview
East Carolina University Educational Foundation Inc, operating under the name Pirate Club, is located in Greenville, NC. The organization was established in 1950. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pirate Club is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Pirate Club generated $12.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $10.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (11.0%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE EAST CAROLINA UNIVERSITY EDUCATIONAL FOUNDATION, INC., D/B/A THE PIRATE CLUB, IS TO BE THE FRIEND-RAISING AND FUND-RAISING ARM OF EAST CAROLINA UNIVERSITY'S DIVISION I ATHLETICS PROGRAM, REPRESENTING THE HIGHEST PRINCIPLES OF HONESTY AND INTEGRITY. BY CONDUCTING ANNUAL FUND, ENDOWMENT, AND CAPITAL CAMPAIGNS IN SUPPORT OF STUDENT-ATHLETE SCHOLARSHIPS, ATHLETIC FACILITY ENHANCEMENTS AND OTHER PROGRAMMATIC NEEDS, THE PIRATE CLUB SEEKS TO BRING POSITIVE RECOGNITION TO EAST CAROLINA UNIVERSITY AND THE REGION IT SERVES THROUGH A COMPETITIVE ATHLETICS PROGRAM.
Describe the Organization's Program Activity:
ONE OF THE FOUNDATION'S OBJECTIVES AND GENERAL PURPOSES IS TO ASSIST IN PROVIDING PHYSICAL FACILITIES FOR EAST CAROLINA UNIVERSITY'S ATHLETICS PROGRAM.
ONE OF THE FOUNDATION'S OBJECTIVES AND GENERAL PURPOSES IS TO RENDER FINANCIAL AID AND OTHER ASSISTANCE TO DESERVING YOUNG MEN AND WOMEN IN ASSISTING THEM TO DEVELOP THEMSELVES PHYSICALLY AND MENTALLY AND IN OTHER WAYS CONSISTENT WITH A BROAD GENERAL EDUCATION.
THE FOUNDATION FUNDS INSURANCE FOR COURTESY CARS PROVIDED TO ATHLETICS STAFF AND COACHES, COUNTRY CLUB DUES AND MEMBERSHIPS FOR ATHLETICS STAFF AND COACHES, RESTRICTED TRANSFERS TO ATHLETICS DEPARTMENTS AND MISCELLANEOUS PURCHASES FOR ITEMS AND SERVICES ATHLETICS CANNOT PURCHASE ACCORDING TO STATE OF NORTH CAROLINA AND/OR UNIVERSITY GUIDELINES, IMPROVEMENTS TO ATHLETICS FACILITIES, AND OTHER ATHLETICS PROGRAMMATIC NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Gilbert Director | Trustee | 1 | $0 |
Stephanie Coleman Exec. Treasurer | Trustee | 1 | $0 |
John Cal Christian Director | Trustee | 1 | $0 |
Ryan Robinson Exec. Director | OfficerTrustee | 24 | $0 |
Glenn Hall Begin 112022 Immed. Past President | OfficerTrustee | 1 | $0 |
Tony Cannon Begin 112022 Exec. President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,008 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,882,113 |
| Noncash contributions included in lines 1a–1f | $507,051 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,900,121 |
| Total Program Service Revenue | $0 |
| Investment income | $472,748 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,641,226 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,072 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,018,167 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,257,125 |
| Grants and other assistance to domestic individuals. | $21,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,800 |
| Fees for services: Accounting | $17,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $32,317 |
| Office expenses | $138,107 |
| Information technology | $43,304 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $24,410 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $24,538 |
| All other expenses | $158,312 |
| Total functional expenses | $10,065,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,849,637 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,686,461 |
| Accounts receivable, net | $184,918 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,680 |
| Net Land, buildings, and equipment | $201,252 |
| Investments—publicly traded securities | $16,825,330 |
| Investments—other securities | $2,415,136 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,934,715 |
| Total assets | $33,102,129 |
| Accounts payable and accrued expenses | $715,745 |
| Grants payable | $0 |
| Deferred revenue | $125,714 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,732,383 |
| Other liabilities | $1,518,142 |
| Total liabilities | $4,091,984 |
| Net assets without donor restrictions | $2,204,573 |
| Net assets with donor restrictions | $26,805,572 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $33,102,129 |