Civic Intelligence

Fayetteville State University Development Corporation

990 • Fiscal year 2019 • EIN 56-2144768

Jul 01, 2018 to Jun 30, 2019 • Filed on Aug 15, 2019

Organization ProfileN/A
Fsu Development Corp Accts PayFayetteville, NC 28301

(910) 672-1111

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

19th percentile

0.01x

Higher debt load relative to assets than 19% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

46th percentile

0.14x

Higher debt load relative to revenue than 46% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Net Margin

93rd percentile

60%

Higher net margin than 93% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Asset Growth

56th percentile

5.1%

Faster asset growth than 56% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

81st percentile

41%

Faster revenue growth than 81% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$1,522,406

Up $74,187 (+5.1%) from 2018

Net Assets

Up

$1,502,908

Up $80,246 (+5.6%) from 2018

Liabilities

Down

$19,498

Down $6,059 (-24%) from 2018

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin93rd percentile

Revenue

Up

$134,699

Up $39,505 (+41%) from 2018

Expenses

Up

$54,453

Up $22,160 (+69%) from 2018

Net Income

Up

$80,246

Up $17,345 (+28%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,144,652Liabilities 2011: $84,498Net Assets 2011: $1,060,1542011Assets 2012: $1,168,669Liabilities 2012: $78,537Net Assets 2012: $1,090,1322012Assets 2013: $1,218,068Liabilities 2013: $70,633Net Assets 2013: $1,147,4352013Assets 2014: $1,275,579Liabilities 2014: $61,190Net Assets 2014: $1,214,3892014Assets 2015: $1,345,296Liabilities 2015: $54,997Net Assets 2015: $1,290,2992015Assets 2016: $1,358,413Liabilities 2016: $43,277Net Assets 2016: $1,315,1362016Assets 2017: $1,397,363Liabilities 2017: $37,602Net Assets 2017: $1,359,7612017Assets 2018: $1,448,219Liabilities 2018: $25,557Net Assets 2018: $1,422,6622018Assets 2019: $1,522,406Liabilities 2019: $19,498Net Assets 2019: $1,502,9082019Assets 2020: $1,593,193Liabilities 2020: $5,883Net Assets 2020: $1,587,3102020Assets 2021: $1,689,724Liabilities 2021: $0Net Assets 2021: $1,689,7242021Assets 2022: $1,870,709Liabilities 2022: $0Net Assets 2022: $1,870,7092022Assets 2023: $2,059,687Liabilities 2023: $0Net Assets 2023: $2,059,6872023Assets 2024: $1,548,348Liabilities 2024: $0Net Assets 2024: $1,548,3482024

Highlighted filing

2019

Assets$1,522,406
Liabilities$19,498
Net Assets$1,502,908
Open 2019 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$500K$0-$500K-$1.0MRevenue 2011: $128,960Expenses 2011: $59,213Net Income 2011: $69,7472011Expenses 2012: $61,4652012Expenses 2013: $55,8022013Revenue 2014: $117,995Expenses 2014: $51,041Net Income 2014: $66,9542014Revenue 2015: $127,231Expenses 2015: $51,321Net Income 2015: $75,9102015Revenue 2016: $68,731Expenses 2016: $43,894Net Income 2016: $24,8372016Revenue 2017: $87,432Expenses 2017: $42,807Net Income 2017: $44,6252017Revenue 2018: $95,194Expenses 2018: $32,293Net Income 2018: $62,9012018Revenue 2019: $134,699Expenses 2019: $54,453Net Income 2019: $80,2462019Revenue 2020: $116,875Expenses 2020: $32,473Net Income 2020: $84,4022020Revenue 2021: $123,995Expenses 2021: $21,581Net Income 2021: $102,4142021Revenue 2022: $217,649Expenses 2022: $36,665Net Income 2022: $180,9842022Revenue 2023: $279,813Expenses 2023: $90,835Net Income 2023: $188,9782023Revenue 2024: -$64,983Expenses 2024: $446,355Net Income 2024: -$511,3382024

Highlighted filing

2019

Revenue$134,699
Expenses$54,453
Net Income$80,246
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Aug 15, 2019
Return Version
2018v3.1
Gross Receipts
$134,699
Mission and Program Overview

Mission

Business development using business incubator for area surrounding fsu campus.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$450,879$436,624▼ $14,255
Cash and Non-Interest-Bearing Accounts$4,323$8,756▲ $4,433
Total Assets$1,448,219$1,522,406▲ $74,187
Other Assets Total$993,017$1,077,026▲ $84,009
Liabilities
Other Liabilities$25,557$19,498▼ $6,059
Total Liabilities$25,557$19,498▼ $6,059
Net Assets / Fund Balance
Unrestricted Net Assets$1,422,662$1,502,908▲ $80,246
Total Net Assets Fund Balance$1,422,662$1,502,908▲ $80,246
Total Liabilities and Net Assets / Fund Balance$1,448,219$1,522,406▲ $74,187

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$295,075$234,893$529,968
Land$140,549-$140,549
Equipment$1,000$26,779$27,779
Other Assets Org$1,077,026--
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
Julian BrownChairperson
Carrie SuttonVice Chairpe
Benson OtovoDirector
Carlton SpellmanDirector
Olivia ChavisDirector
Peggy ValentineDirector
Ulysses TaylorDirector
Wesley FountainDirector
Del MattioliSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$30,690
Program Service Revenue
$0
Investment Income
$2,576
Other Revenue
$101,433
All Other Contributions
$30,690
Change in Net Assets
$80,246

Audited Revenue Reconciliation

Revenue per Audited Statements
$134,699
Total Revenue per Audited Statements
$134,699
Total Revenue per Form 990
$134,699
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$54,453
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
Depreciation Depletion$11,404$2,851-$14,255
Fees for Services Accounting-$3,750-$3,750
Other Expenses$2,771$693-$3,464
All Other Expenses$2,852$548-$3,400
Insurance$1,011$253-$1,264
Total Functional Expenses$42,694$11,759$0$54,453

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$54,453
Total Expenses per Audited Statements$54,453
Total Expenses per Form 990$54,453
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable$20,589
Discount on Non-interest Notes$-1,091
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is provided and reviewed by the board of directors prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“N/a; entity has no employees.”

Form 990, Page 6, Part VI, Line 15B

“N/a; entity has no employees.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Fayetteville State University
EIN
56-2144768
Phone
9106721111
Address
FSU DEVELOPMENT CORP ACCTS PAY, FAYETTEVILLE, NC 28301
Doing Business As
Attention Accounts Payable

Signing Officer

Name
Julian Brown
Title
Chairperson
Phone
9106721084
Signed
2019-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julian Brown
Formed
1999
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Buie Norman & Co Pa
Address
PO BOX 87047, FAYETTEVILLE, NC 28304
Preparer
Larry L Bass
Phone
9104840145
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Volunteers engage in business development using business incubator for area surrounding fsu campus.”

Form 990, Page 2, Part III, Line 4D

“Business development using business incubator for area surrounding fsu campus.”

Raw XML Appendix378 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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IRS990ScheduleD/BuildingsGrp/BookValueAmt0295075
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0234893
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0529968
IRS990ScheduleD/EquipmentGrp/BookValueAmt01000
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026779
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt027779
IRS990ScheduleD/ExpensesSubtotalAmt054453
IRS990ScheduleD/LandGrp/BookValueAmt0140549
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0140549
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01077026
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENTS IN PARTNERSHIP
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020589
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-1091
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DISCOUNT ON NON-INTEREST NOTES
IRS990ScheduleD/RevenueSubtotalAmt0134699
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0436624
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01077026
IRS990ScheduleD/TotalExpensesPerForm990Amt054453
IRS990ScheduleD/TotalLiabilityAmt019498
IRS990ScheduleD/TotalRevenuePerForm990Amt0134699
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0134699
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt054453
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS ENGAGE IN BUSINESS DEVELOPMENT USING BUSINESS INCUBATOR FOR AREA SURROUNDING FSU CAMPUS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BUSINESS DEVELOPMENT USING BUSINESS INCUBATOR FOR AREA SURROUNDING FSU CAMPUS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PROVIDED AND REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3N/A; ENTITY HAS NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4N/A; ENTITY HAS NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01448219
IRS990/TotalAssetsEOYAmt01522406
IRS990/TotalAssetsGrp/BOYAmt01448219
IRS990/TotalAssetsGrp/EOYAmt01522406
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt030690
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011759
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt042694
IRS990/TotalFunctionalExpensesGrp/TotalAmt054453
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt025557
IRS990/TotalLiabilitiesEOYAmt019498
IRS990/TotalLiabilitiesGrp/BOYAmt025557
IRS990/TotalLiabilitiesGrp/EOYAmt019498
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01422662
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01502908
IRS990/TotalProgramServiceExpensesAmt042694
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0104009
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0134699
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01448219
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01522406
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01422662
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01502908
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JULIAN BROWN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRPERSON
ReturnHeader/BusinessOfficerGrp/PhoneNum09106721084
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAYETTEVILLE STATE UNIVERSITY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0FAYE
ReturnHeader/Filer/EIN0562144768
ReturnHeader/Filer/PhoneNum09106721111
ReturnHeader/Filer/USAddress/AddressLine1Txt0FSU DEVELOPMENT CORP ACCTS PAY
ReturnHeader/Filer/USAddress/CityNm0FAYETTEVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028301
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D65B8C24A6D834F8E6E3582B5F89B03B947C9ED7
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02B8C93D922C4DF1CD5B09BFE3ACBC95D8EFE7CC5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-11-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm010:45:13
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561057695
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUIE NORMAN & CO PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 87047
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FAYETTEVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028304
ReturnHeader/PreparerPersonGrp/PhoneNum09104840145
ReturnHeader/PreparerPersonGrp/PreparationDt02019-09-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LARRY L BASS
ReturnHeader/ReturnTs02019-11-14T10:45:13-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,522,406
Liabilities
$19,498
Net assets
$1,502,908
Revenue
$134,699
Expenses
$54,453
Net income
$80,246
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.55$0.00$1.55$0.06$0.45$0.51
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.06$0.00$2.06$0.28$0.09$0.19
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.87$0.00$1.87$0.22$0.04$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.69$0.00$1.69$0.12$0.02$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.59$0.01$1.59$0.12$0.03$0.08
2019Detailed filing. Detailed filing data is available for this year.$1.52$0.02$1.50$0.13$0.05$0.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.03$1.42$0.10$0.03$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.40$0.04$1.36$0.09$0.04$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.04$1.32$0.07$0.04$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.35$0.05$1.29$0.13$0.05$0.08
2014Detailed filing. Detailed filing data is available for this year.$1.28$0.06$1.21$0.12$0.05$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.07$1.15$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.08$1.09$0.06
2011Summary only. Only limited summary data is available for this year.$1.14$0.08$1.06$0.13$0.06$0.07
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $1M-$5M nonprofits