Civic Intelligence

The North Carolina A&T Real Estate Foundation Inc.

990 • Fiscal year 2017 • EIN 56-6075899

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 24, 2018

Organization ProfileN/A
PO Box 20366Greensboro, NC 27420

(336) 433-5560

Siviq Scores

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

Liabilities / Assets

81st percentile

0.63x

Higher debt load relative to assets than 81% of similar nonprofits.

2017 filings • NTEE B • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

89th percentile

4.45x

Higher debt load relative to revenue than 89% of similar nonprofits.

2017 filings • NTEE B • $50M-$100M nonprofits • Source year 2017

Net Margin

96th percentile

53%

Higher net margin than 96% of similar nonprofits.

2017 filings • NTEE B • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

17th percentile

$177,495

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

63rd percentile

7.3%

Faster asset growth than 63% of similar nonprofits.

2017 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

87th percentile

50%

Faster revenue growth than 87% of similar nonprofits.

2017 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$63,061,405

Up $4,265,275 (+7.3%) from 2016

Net Assets

Up

$23,476,570

Up $5,198,155 (+28%) from 2016

Liabilities

Down

$39,584,835

Down $932,880 (-2.3%) from 2016

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin96th percentile

Revenue

Up

$8,897,855

Up $2,959,239 (+50%) from 2016

Expenses

Down

$4,198,413

Down $686,421 (-14%) from 2016

Net Income

Up

$4,699,442

Up $3,645,660 (+346%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$200M$150M$100M$50M$0Assets 2011: $53,981,240Liabilities 2011: $43,822,428Net Assets 2011: $10,158,8122011Assets 2012: $53,614,733Liabilities 2012: $42,590,736Net Assets 2012: $11,023,9972012Assets 2013: $59,288,997Liabilities 2013: $41,553,228Net Assets 2013: $17,735,7692013Assets 2014: $59,355,316Liabilities 2014: $41,576,480Net Assets 2014: $17,778,8362014Assets 2015: $58,431,794Liabilities 2015: $40,467,582Net Assets 2015: $17,964,2122015Assets 2016: $58,796,130Liabilities 2016: $40,517,715Net Assets 2016: $18,278,4152016Assets 2017: $63,061,405Liabilities 2017: $39,584,835Net Assets 2017: $23,476,5702017Assets 2018: $86,091,491Liabilities 2018: $59,274,966Net Assets 2018: $26,816,5252018Assets 2019: $94,970,554Liabilities 2019: $66,358,430Net Assets 2019: $28,612,1242019Assets 2020: $154,780,990Liabilities 2020: $121,499,061Net Assets 2020: $33,281,9292020Assets 2021: $167,097,116Liabilities 2021: $122,641,388Net Assets 2021: $44,455,7282021Assets 2022: $169,150,909Liabilities 2022: $116,678,442Net Assets 2022: $52,472,4672022Assets 2023: $189,272,020Liabilities 2023: $134,678,451Net Assets 2023: $54,593,5692023Assets 2024: $164,220,580Liabilities 2024: $140,436,714Net Assets 2024: $23,783,8662024

Highlighted filing

2017

Assets$63,061,405
Liabilities$39,584,835
Net Assets$23,476,570
Open 2017 Filing

Operations Trend

Revenue Growth87th percentile

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

$40M$30M$20M$10M$0-$10MRevenue 2011: $5,190,716Expenses 2011: $2,699,805Net Income 2011: $2,490,9112011Revenue 2012: $4,273,436Expenses 2012: $2,907,254Net Income 2012: $1,366,1822012Revenue 2013: $9,706,179Expenses 2013: $2,898,928Net Income 2013: $6,807,2512013Revenue 2014: $4,421,158Expenses 2014: $4,503,711Net Income 2014: -$82,5532014Revenue 2015: $5,992,355Expenses 2015: $3,679,817Net Income 2015: $2,312,5382015Revenue 2016: $5,938,616Expenses 2016: $4,884,834Net Income 2016: $1,053,7822016Revenue 2017: $8,897,855Expenses 2017: $4,198,413Net Income 2017: $4,699,4422017Revenue 2018: $6,984,613Expenses 2018: $4,806,073Net Income 2018: $2,178,5402018Revenue 2019: $11,654,122Expenses 2019: $10,551,208Net Income 2019: $1,102,9142019Revenue 2020: $25,950,999Expenses 2020: $21,177,786Net Income 2020: $4,773,2132020Revenue 2021: $25,835,252Expenses 2021: $21,596,043Net Income 2021: $4,239,2092021Revenue 2022: $33,021,773Expenses 2022: $25,849,892Net Income 2022: $7,171,8812022Revenue 2023: $34,229,834Expenses 2023: $33,923,863Net Income 2023: $305,9712023Revenue 2024: $26,012,245Expenses 2024: $24,985,662Net Income 2024: $1,026,5832024

Highlighted filing

2017

Revenue$8,897,855
Expenses$4,198,413
Net Income$4,699,442
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 24, 2018
Return Version
2016v3.0
Gross Receipts
$18,023,370
Mission and Program Overview

Mission

To provide scholarships and institutional support to North Carolina A&T state university students, faculty and departments.

To provide scholarships and institutional support to north carolina a&t state university students, faculty, and departments, as well as to support institutional real estate activity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$29,899,006$29,504,662▼ $394,344
Savings and Temporary Cash Investments$9,151,238$10,436,276▲ $1,285,038
Cash and Non-Interest-Bearing Accounts$4,566,702$7,717,364▲ $3,150,662
Investments Other Securities$4,639,238$4,639,238→ $0
Accounts Receivable$559,594$217,189▼ $342,405
Pledges and Grants Receivable$518,616$179,844▼ $338,772
Prepaid Expenses and Deferred Charges$49,753$9,581▼ $40,172
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$58,796,130$63,061,405▲ $4,265,275
Other Assets Total$9,411,983$10,357,251▲ $945,268
Liabilities
Tax Exempt Bond Liabilities$38,235,854$37,428,703▼ $807,151
Escrow Account Liability$950,469$1,053,048▲ $102,579
Other Liabilities$1,002,690$587,210▼ $415,480
Accounts Payable and Accrued Expenses$156,944$515,874▲ $358,930
Deferred Revenue$175,454--
Total Liabilities$40,521,411$39,584,835▼ $936,576
Net Assets / Fund Balance
Temporarily Rstr Net Assets$7,619,725$9,787,349▲ $2,167,624
Unrestricted Net Assets$6,227,389$9,055,945▲ $2,828,556
Permanently Rstr Net Assets$4,427,605$4,633,276▲ $205,671
Total Net Assets Fund Balance$18,274,719$23,476,570▲ $5,201,851
Total Liabilities and Net Assets / Fund Balance$58,796,130$63,061,405▲ $4,265,275

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$26,646,453$11,116,701$37,763,154
Land$1,873,543-$1,873,543
Equipment$182,354$701,425$883,779
Leasehold Improvements$629,607$220,541$850,148
Other Land Buildings$172,705$256,096$428,801
Other Assets Org$1--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$5,304,875$197,919▲ $492,190-$5,808,402
2015$5,645,182$133,456▲ $226,786-$5,733,605
2014$5,660,134$138,903▼ $166,103-$5,531,831
2013$5,385,452$79,039▲ $819,229-$5,984,089
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ralph E FennellExecutive DirectorFT$142,792$34,703$177,495

Board Members and Trustees

NameTitle
Shirley T FryeBoard Chair
Haven CockerhamVice Chair
Clifford A MaskeDirector
Harold LMartin SrDirector
Kim GatlingDirector
Russ ParmeleDirector
Torian R PriestlyDirector
Kenneth DimockAudit Committee
Gerald TruesdaleSecretary
Mark KielTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Wilfredos Painting and Home ImprovementPaintingPO Box 1212, Jamestown, NC 27282-1212$145,850
Revenue and Support

Revenue Composition

Contributions and Grants
$4,373,869
Program Service Revenue
$277,980
Investment Income
$1,171,704
Other Revenue
$3,074,302
All Other Contributions
$4,373,869
Change in Net Assets
$4,699,442

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,897,855
Total Revenue per Audited Statements
$8,897,855
Total Revenue per Form 990
$8,897,855
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,610,812
Grants and Similar Amounts Paid$1,085,351
Salaries, Compensation, and Employee Benefits$502,250
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,085,351--$1,085,351
Other Salaries and Wages-$219,147-$219,147
Current Officers, Directors, Trustees, and Key Employees-$177,495-$177,495
Fees for Services Other-$90,997-$90,997
Other Employee Benefits-$79,372-$79,372
All Other Expenses-$33,270-$33,270
Insurance-$26,335-$26,335
Payroll Taxes-$26,236-$26,236
Other Expenses$2,332,875$17,503-$17,503
Travel-$970-$970
Depreciation Depletion-$605-$605
Total Functional Expenses$3,418,226$780,187$0$4,198,413

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,198,413
Total Expenses per Audited Statements$4,198,413
Total Expenses per Form 990$4,198,413
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$284,981
Fundraising Direct Expenses$211,129
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Homecoming Concerts$284,981$284,981$211,129$73,852
Total Events$284,981$284,981$211,129$73,852
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap Agreement$587,210

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANC Capital Facilities2015-10-01$22,495,000To refund student revenue bond
BNC Capital Facilities2004-07-01$21,000,000To construct student housing

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$24,245,853$1,278,214-$485,859
B$21,500,000--$215,943

Bond Financing Compliance

No rebate due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Board Treasurer will review the completed Form 990 on behalf of the Board of Directors. When satisfied the Board Treasurer will sign.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Annually the Conflict of Interest policy is presented to the Board of Directors and are requested to identify any conflicts of interest per our policy and sign the document. Employees sign a conflict of interest policy at the inception of employment.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Review is handled by the personnel committee of the board.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Review is handled by the personnel committee of the board.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Available upon written request.”

Filing and Contact Details

Filer

Filer Name
The North Carolina A &T Real Estate
EIN
56-6075899
Phone
3364335560
Address
PO BOX 20366, Greensboro, NC 27420

Signing Officer

Name
Mark Kiel
Title
Treasurer
Signed
2018-01-24
Discuss with paid preparer
Yes

Organization Details

Formed
1946
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
78

Preparer

Firm
Thomas & Gibbs Cpas Pllc
Address
6114 FAYETTEVILLE RD STE 101, DURHAM, NC 27713-6284
Preparer
Kenneth D Gibbs
Phone
9195440555
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Rounding = $1”

Financial Statement Notes

Part X : FIN48 Footnote

“Uncertain tax positions - For the year ended June 30, 2017, the Foundation has considered recognition requirements for uncertain tax positions as required by generally accepted accounting principles. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Foundation has analyzed tax positions taken for filing with the Internal Revenue Service and all applicable state jurisdictions.The Foundation believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse affect on the Foundations financial position.”

Raw XML AppendixShowing 400 of 736 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/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
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IRS990/MissionDesc0TO PROVIDE SCHOLARSHIPS AND INSTITUTIONAL SUPPORT TO NORTH CAROLINA A&T STATE UNIVERSITY STUDENTS, FACULTY, AND DEPARTMENTS, AS WELL AS TO SUPPORT INSTITUTIONAL REAL ESTATE ACTIVITY.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt088257
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt120000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt217503
IRS990/OtherExpensesGrp/ProgramServicesAmt02332875
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IRS990/OtherExpensesGrp/TotalAmt188257
IRS990/OtherExpensesGrp/TotalAmt220000
IRS990/OtherExpensesGrp/TotalAmt317503
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IRS990/OtherRevenueTotalAmt0280077
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0219147
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt026236
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt017684
IRS990/ProgSrvcAccomActy2Grp/Desc0The Foundation provides student housing to support the NC A&T State University's enrollment and retention maintaining a 98% occupancy. The Event Center hosts all of the University's New Student Program events, executive board meetings of the Chancellor and special university-related events. The Event Center is the site for annual departmental hosted conferences such as The NC Consortium for International and Interculture Education (NCIIE), Engineering Week, Small Farmers Week, and COAACH (Alzheimer's Caregivers Conference). The Event Center creates more visibility for the campus which is a component of the university's Preimenence 2035 Master Plan. The Event Center was the primary site for student orientation programs, new student campus visits and major student activity functions. The Event Center was the site for three major events on a global platform: 1. An HBCU Student Forum hosted by ESPN's The Undefeated with President Barak Obama.2. Chancellor's Town Hall with Facebook Founder and CEO Mark Zuckerburg and 3. The first Chancellor's Speaker Series Talk whose speaker was Daymond John of ABC's Shark Tank.
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt01188164
IRS990/PYInvestmentIncomeAmt0206941
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IRS990/PYOtherExpensesAmt03088341
IRS990/PYOtherRevenueAmt02360124
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IRS990/PYRevenuesLessExpensesAmt01053782
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IRS990/PYTotalRevenueAmt05938616
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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IRS990/ReconcilationRevenueExpnssAmt04699442
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IRS990/ReportLandBuildingEquipmentInd0true
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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,061,405
Liabilities
$39,584,835
Net assets
$23,476,570
Revenue
$8,897,855
Expenses
$4,198,413
Net income
$4,699,442
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$164$140$23.8$26.0$25.0$1.03
2023Detailed filing. Detailed filing data is available for this year.$189$135$54.6$34.2$33.9$0.31
2022Detailed filing. Detailed filing data is available for this year.$169$117$52.5$33.0$25.8$7.17
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$167$123$44.5$25.8$21.6$4.24
2020Detailed filing. Detailed filing data is available for this year.$155$121$33.3$26.0$21.2$4.77
2019Detailed filing. Detailed filing data is available for this year.$95.0$66.4$28.6$11.7$10.6$1.10
2018Detailed filing. Detailed filing data is available for this year.$86.1$59.3$26.8$6.98$4.81$2.18
2017Detailed filing. Detailed filing data is available for this year.$63.1$39.6$23.5$8.90$4.20$4.70
2016Summary only. Only limited summary data is available for this year.$58.8$40.5$18.3$5.94$4.88$1.05
2015Detailed filing. Detailed filing data is available for this year.$58.4$40.5$18.0$5.99$3.68$2.31
2014Detailed filing. Detailed filing data is available for this year.$59.4$41.6$17.8$4.42$4.50$0.08
2013Summary only. Only limited summary data is available for this year.$59.3$41.6$17.7$9.71$2.90$6.81
2012Summary only. Only limited summary data is available for this year.$53.6$42.6$11.0$4.27$2.91$1.37
2011Summary only. Only limited summary data is available for this year.$54.0$43.8$10.2$5.19$2.70$2.49