Civic Intelligence

The University of Mount Olive Foundation

EIN 20-0371529 • 501(c)3 • Mount Olive, NC

Profile

The purpose of this nonprofit foundation is to seek alternative sources of support to strengthen the university of mount olive's outreach to students and the community.

634 Henderson StreetMount Olive, NC 28365-1263

www.umo.edu/SUPPORT-UMO

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

1.36x

Higher debt load relative to assets than 97% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

12.20x

Higher debt load relative to revenue than 98% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Net Margin

60th percentile

7.8%

Higher net margin than 60% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

94th percentile

$377,406

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 39.7% of source-year revenue.

NTEE B • $5M-$10M nonprofits • Source year 2024

Asset Growth

28th percentile

-3.1%

Faster asset growth than 28% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

0.3%

Faster revenue growth than 34% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$8,523,343

Down $269,362 (-3.1%) from 2023

Liabilities

Down

$11,604,903

Down $343,371 (-2.9%) from 2023

Net Assets

Up

-$3,081,560

Up $74,009 (+2.3%) from 2023

Operations
Liabilities / Revenue98th percentileNet Margin60th percentile

Revenue

Up

$951,572

Up $2,668 (+0.3%) from 2023

Expenses

Down

$877,563

Down $17,653 (-2.0%) from 2023

Net Income

Up

$74,009

Up $20,321 (+38%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0-$5.0MAssets 2011: $14,205,748Liabilities 2011: $15,489,038Net Assets 2011: -$1,283,2902011Assets 2012: $13,920,414Liabilities 2012: $14,825,987Net Assets 2012: -$905,5732012Assets 2013: $13,382,480Liabilities 2013: $14,533,335Net Assets 2013: -$1,150,8552013Assets 2014: $12,952,389Liabilities 2014: $14,309,669Net Assets 2014: -$1,357,2802014Assets 2015: $12,562,420Liabilities 2015: $14,144,342Net Assets 2015: -$1,581,9222015Assets 2016: $12,112,332Liabilities 2016: $13,903,244Net Assets 2016: -$1,790,9122016Assets 2017: $11,711,987Liabilities 2017: $13,647,928Net Assets 2017: -$1,935,9412017Assets 2018: $11,319,804Liabilities 2018: $13,378,496Net Assets 2018: -$2,058,6922018Assets 2019: $10,892,253Liabilities 2019: $13,031,202Net Assets 2019: -$2,138,9492019Assets 2020: $10,550,864Liabilities 2020: $12,886,451Net Assets 2020: -$2,335,5872020Assets 2021: $9,330,028Liabilities 2021: $12,589,382Net Assets 2021: -$3,259,3542021Assets 2022: $9,147,004Liabilities 2022: $12,356,261Net Assets 2022: -$3,209,2572022Assets 2023: $8,792,705Liabilities 2023: $11,948,274Net Assets 2023: -$3,155,5692023Assets 2024: $8,523,343Liabilities 2024: $11,604,903Net Assets 2024: -$3,081,5602024

Highlighted filing

2024

Assets$8,523,343
Liabilities$11,604,903
Net Assets-$3,081,560
Open 2024 Filing

Operations Trend

Revenue Growth34th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2011: $1,129,7292011Expenses 2012: $1,112,4392012Expenses 2013: $1,109,1882013Revenue 2014: $871,418Expenses 2014: $1,103,215Net Income 2014: -$231,7972014Revenue 2015: $873,186Expenses 2015: $1,093,485Net Income 2015: -$220,2992015Revenue 2016: $871,556Expenses 2016: $1,082,844Net Income 2016: -$211,2882016Revenue 2017: $871,745Expenses 2017: $1,030,686Net Income 2017: -$158,9412017Revenue 2018: $872,764Expenses 2018: $998,988Net Income 2018: -$126,2242018Revenue 2019: $887,373Expenses 2019: $967,630Net Income 2019: -$80,2572019Revenue 2020: $729,401Expenses 2020: $939,098Net Income 2020: -$209,6972020Revenue 2021: $193Expenses 2021: $923,960Net Income 2021: -$923,7672021Revenue 2022: $958,940Expenses 2022: $908,843Net Income 2022: $50,0972022Revenue 2023: $948,904Expenses 2023: $895,216Net Income 2023: $53,6882023Revenue 2024: $951,572Expenses 2024: $877,563Net Income 2024: $74,0092024

Highlighted filing

2024

Revenue$951,572
Expenses$877,563
Net Income$74,009
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$8,523,343
Liabilities
$11,604,903
Net assets
-$3,081,560
Revenue
$951,572
Expenses
$877,563
Net income
$74,009
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.52$11.6$3.08$0.95$0.88$0.07
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.79$11.9$3.16$0.95$0.90$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.15$12.4$3.21$0.96$0.91$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.33$12.6$3.26$0.00$0.92$0.92
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.6$12.9$2.34$0.73$0.94$0.21
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.9$13.0$2.14$0.89$0.97$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.3$13.4$2.06$0.87$1.00$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.7$13.6$1.94$0.87$1.03$0.16
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.1$13.9$1.79$0.87$1.08$0.21
2015Detailed filing. Detailed filing data is available for this year.$12.6$14.1$1.58$0.87$1.09$0.22
2014Summary only. Only limited summary data is available for this year.$13.0$14.3$1.36$0.87$1.10$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.4$14.5$1.15$1.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.9$14.8$0.91$1.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.2$15.5$1.28$1.13
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 7, 2025
Return Version
2023v6.0
Gross Receipts
$951,572
Mission and Program Overview

Mission

The purpose of this nonprofit foundation is to seek alternative sources of support to strengthen the university of mount olive's outreach to students and the community.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,396,792$8,035,274▼ $361,518
Savings and Temporary Cash Investments$393,187$485,343▲ $92,156
Prepaid Expenses and Deferred Charges$2,726$2,726→ $0
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$8,792,705$8,523,343▼ $269,362
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,776,895$11,437,980▼ $338,915
Accounts Payable and Accrued Expenses$171,379$166,923▼ $4,456
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$11,948,274$11,604,903▼ $343,371
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-3,155,569$-3,081,560▲ $74,009
Total Net Assets Fund Balance$-3,155,569$-3,081,560▲ $74,009
Total Liabilities and Net Assets / Fund Balance$8,792,705$8,523,343▼ $269,362

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,035,274$6,425,446$14,460,720
Equipment$0$1,383,810$1,383,810
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleOtherTotal
Anne HammSecretary$61,017$61,017
Twyla WellsPresident$55,597$55,597

Board Members and Trustees

NameTitle
I Ray Mcdonald JrChairperson
Dean RouseVice Chairperson
Billy KornegayBoard Member
Dr Edward CroomBoard Member
Dr J William ByrdBoard Member
Earl Worley JrBoard Member
Ed CromartieBoard Member
Grey MorganBoard Member
James E WilliamsBoard Member
Olivia B HoldingBoard Member
Roger B Davis SrBoard Member
Scott WinslowBoard Member
Stephanie KornegayBoard Member
Townsend QuinnBoard Member
Wendy CrumplerBoard Member
Kenneth BuchananAssistant Treasurer
William H BryanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$948,660
Investment Income
$2,912
Other Revenue
$0
Change in Net Assets
$74,009
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$877,563
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$516,045--$516,045
Depreciation Depletion$361,518--$361,518
Total Functional Expenses$877,563$0$0$877,563
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11B:

“The form 990 is reviewed by the controller & cfo prior to providing a copy to the university board members. The form is distributed to the board members prior to a scheduled meeting during which the form is approved.”

FORM 990, PART VI, SECTION B, LINE 12C:

“The conflict of interest policy undergoes constant review, and any conflicts are disclosed.”

FORM 990, PART VI, SECTION B, LINE 15:

“The foundation does not pay any compensation; the only paid positions are full-time employees of the university of mount olive (umo) and accordingly are paid by umo. Umo has a process in place for determining such compensation. That process states the following: compensation for the president, vp of institutional advancement, and vp finance and administration require the use of a compensation committee, independent consultant, compensation survey, or board/committee approval.”

FORM 990, PART VI, SECTION C, LINE 19:

“Financial statements and governing documents are available upon request for the same period of disclosure as set forth in section 6104(d). The articles of incorporation and articles of amendment are located on the nc secretary of state website. The current conflict of interest policy is available on the internal fresco website under institutional policies and procedures collection.”

Filing and Contact Details

Filer

Filer Name
The University of Mount Olive Foundation
EIN
20-0371529
In Care Of
% JAY REBMAN
Phone
9196582502
Address
634 HENDERSON STREET, MOUNT OLIVE, NC 28365-1263

Signing Officer

Name
Kenneth Buchanan
Title
CFO/SVP for Finance
Phone
9196582502
Signed
2025-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Buchanan
Formed
2003
Legal Domicile
Nc
Voting Board Members
18
Independent Board Members
15
Employees
0
Volunteers
15

Preparer

Firm
Bdo USA
Address
421 Fayetteville Street Suite 300, Raleigh, NC 27601
Preparer
Sandra L Feinsmith
Phone
9192781936
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

“The purpose of this nonprofit foundation is to fulfill the obligations of the foundation, primarily debt service.”

FORM 990, PART XII, LINE 2C:

“The review and oversight process has not changed since the preceding year.”

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

“Management evaluated the organization's tax positions and concluded that the organization had taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of income taxes (topic 740) of the fasb asc.”

Raw XML AppendixShowing 400 of 609 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/CostOfGoodsSoldAmt00
IRS990/CreditCounselingInd0false
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IRS990/DepreciationDepletionGrp/ProgramServicesAmt0361518
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IRS990/Desc0HOLD CERTAIN REAL ESTATE USED BY THE UNIVERSITY OF MOUNT OLIVE INC IN CARRYING OUT ITS EXEMPT PURPOSE.
IRS990/DescribedInSection501c3Ind0true
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IRS990/EscrowAccountLiabilityGrp/BOYAmt00
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IRS990/ExpenseAmt0877563
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IRS990/Form990PartVIISectionAGrp/PersonNm1KENNETH BUCHANAN
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