Western Carolina University Foundation
- Assets
- $78.0m
- Revenue
- $8.3m
- Investments
- $65.9m
- Employees
- 7
- Location
- Cullowhee, NC
- Founding
- 01/1972
- Data as of
- 06/2023
- 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 06/2023, Western Carolina University Foundation employed 7 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 06/2023, Western Carolina University Foundation generated $8.3m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $5.7m during the year ending 06/2023. While expenses have increased by 6.7% per year over the past 3 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
2023
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 | |
Mike Byers Treasurer | OfficerTrustee | 1 | $0 |
Jamie Raynor Executive Se | OfficerTrustee | $0 | |
Beth Lofquist Chair | OfficerTrustee | $0 | |
John Davis 1st Vice Cha | Trustee | $0 | |
Dennis Fox 2nd Chair | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $40,998 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,114,408 |
| Noncash contributions included in lines 1a–1f | $365,358 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,155,406 |
| Total Program Service Revenue | $16,064 |
| Investment income | $143,295 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $672 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,066,355 |
| Net Income from Fundraising Events | -$35,990 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,345,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,248,136 |
| 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 | $26,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,248 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,734 |
| Fees for services: Accounting | $10,576 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $173,278 |
| Fees for services: Other | $21,850 |
| Advertising and promotion | $0 |
| Office expenses | $65,598 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,175 |
| 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 | $4,723 |
| Insurance | $3,945 |
| All other expenses | $9,699 |
| Total functional expenses | $5,659,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,607,730 |
| Savings and temporary cash investments | $6,291,928 |
| Pledges and grants receivable | $3,745,303 |
| Accounts receivable, net | $67,699 |
| 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 | $253,425 |
| Investments—publicly traded securities | $99,976 |
| Investments—other securities | $65,880,421 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,924 |
| Total assets | $77,984,406 |
| Accounts payable and accrued expenses | $573 |
| 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 | $37,924 |
| Total liabilities | $78,322 |
| 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 | $77,906,084 |
| Total liabilities and net assets/fund balances | $77,984,406 |
Grants Awarded
Over the last fiscal year, Western Carolina University Foundation has awarded $5,248,136 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN CAROLINA UNIVERSITY PURPOSE: ATHLETIC DEPARTMENT | $2,030,225 |
WESTERN CAROLINA UNIVERSITY PURPOSE: GENERAL UNIVERSITY | $886,973 |
WESTERN CAROLINA UNIVERSITY PURPOSE: SCHOLARSHIPS | $2,330,938 |