Western Carolina University Foundation
- Assets
- $76.3m
- Revenue
- $7.3m
- Investments
- $67.5m
- Employees
- 6
- Location
- Cullowhee, NC
- Founding
- 01/1972
- Data as of
- 06/2022
- EIN
- 23-7159170
Organization Overview
Western Carolina University Foundation is located in Cullowhee, NC. The organization was established in 1972. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Western Carolina University Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Carolina University Foundation 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, Western Carolina University Foundation generated $7.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $5.8m during the year ending 06/2022. While expenses have increased by 7.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SUPPORT TO WESTERN CAROLINA UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FINANCIAL ASSISTANCE AND SCHOLARSHIPS TO WORTHY STUDENTS AND FINANCIAL SUPPORT TO VARIOUS DEPARTMENTS OF WESTERN CAROLINA UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelli Brown President | OfficerTrustee | 0 | $0 |
Donna Winbon Chair | OfficerTrustee | 0 | $0 |
Charlie Worley 2nd Vice Cha | OfficerTrustee | 0 | $0 |
Mike Byers Treasurer | OfficerTrustee | 0 | $0 |
Jamie Raynor Executive Se | OfficerTrustee | 0 | $0 |
Beth Lofquist 3rd Vice Cha | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $8,906 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,489,879 |
| Noncash contributions included in lines 1a–1f | $230,422 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,498,785 |
| Total Program Service Revenue | $129,110 |
| Investment income | $21,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,142 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $639,110 |
| Net Income from Fundraising Events | -$2,733 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,286,676 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,386,862 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $7,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,210 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,576 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $236,732 |
| Fees for services: Other | $41,596 |
| Advertising and promotion | $0 |
| Office expenses | $29,258 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $6,799 |
| Insurance | $4,568 |
| All other expenses | $237 |
| Total functional expenses | $5,828,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,167,367 |
| Savings and temporary cash investments | $4,682,647 |
| Pledges and grants receivable | $2,373,170 |
| Accounts receivable, net | $152,074 |
| 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 | $0 |
| Net Land, buildings, and equipment | $374,602 |
| Investments—publicly traded securities | $107,642 |
| Investments—other securities | $67,477,652 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $76,335,154 |
| Accounts payable and accrued expenses | $1,513 |
| Grants payable | $0 |
| Deferred revenue | $39,825 |
| 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 | $0 |
| Total liabilities | $41,338 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $76,293,816 |
| Total liabilities and net assets/fund balances | $76,335,154 |
Grants Awarded
Over the last fiscal year, Western Carolina University Foundation has awarded $5,386,862 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN CAROLINA UNIVERSITY PURPOSE: ATHLETIC DEPARTMENT | $3,031,065 |
WESTERN CAROLINA UNIVERSITY PURPOSE: GENERAL UNIVERSITY | $1,783,363 |
WESTERN CAROLINA UNIVERSITY PURPOSE: GENERAL UNIVERSITY | $572,434 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Western Carolina University Foundation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Annexstad Family Foundation Mound, MN PURPOSE: SCHOLARSHIP | $15,000 |
Endowment Analysis
| Beg. Balance | $63,475,474 |
| Earnings | $2,740,780 |
| Net Contributions | $1,878,498 |
| Other Expense | $375,854 |
| Grants | $1,783,363 |
| Ending Balance | $65,935,535 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Emory University Decatur, GA | $5,794,825 | $19,416,810 |
Gamecock Club Of The University Of South Carolina Columbia, SC | $10,628,340 | $13,135,992 |
Crown College Powell, TN | $16,563,165 | $8,650,181 |
Appalachian College Of Pharmacy Oakwood, VA | $36,195,397 | $7,728,362 |
Austin Peay State University Foundation Clarksville, TN | $60,731,234 | $13,661,420 |
University Of Tennessee Research Foundation Knoxville, TN | $82,756,683 | $8,787,700 |
School Of Media And Journalism Foundation Of North Carolina Inc Chapel Hill, NC | $50,008,414 | $6,859,944 |
Virginia Commonwealth University Real Estate Foundation Richmond, VA | $95,872,198 | $7,982,693 |
Western Carolina University Foundation Cullowhee, NC | $76,335,154 | $7,286,676 |
Virginia University Of Lynchburg Inc Lynchburg, VA | $13,241,169 | $8,139,477 |
South Carolina Research Foundation Columbia, SC | $3,435,168 | $5,813,160 |
Skema Us Inc Raleigh, NC | $4,455,636 | $4,986,543 |