East Carolina University Foundation Inc
- Assets
- $187.0m
- Revenue
- $28.8m
- Investments
- $52.6m
- Employees
- 0
- Location
- Greenville, NC
- Founding
- 03/1969
- Data as of
- 06/2022
- EIN
- 56-6093187
Organization Overview
East Carolina University Foundation Inc is located in Greenville, NC. The organization was established in 1969. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Carolina University Foundation Inc 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, East Carolina University Foundation Inc generated $28.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $10.5m during the year ending 06/2022. While expenses have increased by 5.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 FOUNDATION RAISES, MANAGES, AND DISTRIBUTES PRIVATE RESOURCES FOR THE BENEFIT OF EAST CAROLINA UNIVERSITY, ITS STUDENTS AND ACADEMIC AND RESEARCH PROGRAMS.
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDES FUNDING FOR STUDENT SCHOLARSHIPS AND AWARDS. THROUGH ITS MULTI-YEAR SCHOLARSHIP PROGRAMS, NAMED SCHOLARSHIPS, AND ANNUALLY FUNDED AWARDS THE FOUNDATION SEEKS TO ASSIST EAST CAROLINA UNIVERSITY STUDENTS IN ACHIEVING THEIR EDUCATION GOALS. DURING 2022, THE FOUNDATION AWARDED SCHOLARSHIPS TO 2,081 RECIPIENTS TOTALING $3,958,510 AND 81 AWARDS TOTALING $72,232.
THE FOUNDATION PROVIDES PROGRAM FUNDING TO EAST CAROLINA UNIVERSITY. THIS PROGRAM SUPPORT INCLUDES FACULTY DEVELOPMENT AND TRAVEL, AS WELL AS PROVIDING FUNDING FOR STUDENT EXPERIENCES THAT ARE THE HALLMARKS OF AN EXCELLENT INSTITUTION.
THE FOUNDATION ASSISTS EAST CAROLINA UNIVERSITY IN THE RECRUITMENT AND RETENTION OF HIGHLY QUALIFIED FACULTY AND ADMINISTRATORS BY PROVIDING FUNDING FOR FACULTY AND ADMINISTRATOR COMPENSATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kara Blount Vice Chair | OfficerTrustee | 1 | $0 |
Steve Jones Director | Trustee | 1 | $0 |
Christopher M Dyba President | OfficerTrustee | 20 | $0 |
Vanessa Workman Asst. Secretary | OfficerTrustee | 1 | $0 |
Stephanie Coleman Treasurer | OfficerTrustee | 1 | $0 |
Matt Slate Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ithaka Library Journals | 6/29/22 | $202,230 |
Valerie M Conger Contracted Services | 6/29/22 | $122,952 |
Aramark Educational Services Llc Food Service | 6/29/22 | $114,948 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $64,488 |
| Related organizations | $0 |
| Government grants | $350 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,503,308 |
| Noncash contributions included in lines 1a–1f | $576,847 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,568,146 |
| Total Program Service Revenue | $252,771 |
| Investment income | $8,872,638 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,044,128 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,752,906 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,116,689 |
| Grants and other assistance to domestic individuals. | $4,018,040 |
| Grants and other assistance to Foreign Orgs/Individuals | $12,702 |
| 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 | $1,407 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33 |
| Fees for services: Accounting | $15,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,194,701 |
| Advertising and promotion | $165,405 |
| Office expenses | $487,016 |
| Information technology | $49,879 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $228,392 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,704 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,865 |
| All other expenses | $0 |
| Total functional expenses | $10,508,378 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,863,939 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,929,477 |
| Accounts receivable, net | $1,703,065 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $59,519 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $762 |
| Net Land, buildings, and equipment | $86,190 |
| Investments—publicly traded securities | $114,521,132 |
| Investments—other securities | $52,587,721 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,238,593 |
| Total assets | $186,990,398 |
| Accounts payable and accrued expenses | $42,316 |
| Grants payable | $0 |
| Deferred revenue | $20,000 |
| 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 | $0 |
| Other liabilities | $3,525,731 |
| Total liabilities | $3,588,047 |
| Net assets without donor restrictions | $18,373,166 |
| Net assets with donor restrictions | $165,029,185 |
| 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 | $186,990,398 |
Grants Awarded
Over the last fiscal year, East Carolina University Foundation Inc has awarded $3,099,589 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
EAST CAROLINA UNIVERSITY PURPOSE: GENERAL PROGRAM | $3,019,355 |
Greenville, NC PURPOSE: GENERAL PROGRAM | $80,234 |
Grants Recieved
Over the last fiscal year, we have identified 35 grants that East Carolina University Foundation Inc has recieved totaling $2,012,620.
| Awarding Organization | Amount |
|---|---|
Maynard Family Foundation Raleigh, NC PURPOSE: MAYNARD SCHOLARSHIP FUND | $1,000,000 |
Harold H Bate Foundation Inc New Bern, NC PURPOSE: SUPPORT OF SCHOLARSHIPS, STUDENT EMERGENCY NEEDS, AND REGIONAL OUTREACH AT ECU; DOWDY FICKLIN STADIUM RENOVATION PROJECT | $681,600 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $80,717 |
The Eddie And Jo Allison Smith Family Foundation Inc Greenville, NC PURPOSE: VARIOUS PROJECTS FOR THE SCHOOL OF MUSIC AND THEATER | $33,500 |
Community Foundation Of Nc East Inc Greenville, NC PURPOSE: Scholarships & General Support | $27,750 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $25,150 |
Endowment Analysis
| Beg. Balance | $147,199,111 |
| Earnings | -$12,561,864 |
| Admin Expense | $1,330,478 |
| Net Contributions | $3,219,409 |
| Grants | $2,100,619 |
| Ending Balance | $134,425,559 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
Clemson University Foundation Clemson, SC | $1,240,950,463 | $112,486,660 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |
University Of Memphis Foundation Memphis, TN | $175,396,802 | $38,710,840 |
Virginia Commonwealth University College Of Engineering Foundation Richmond, VA | $131,974,636 | $12,076,889 |