Campbell University Foundation Inc.

“Frederick h. Taylor & frederick l.taylor are father and son. William byrd and thomas keith co-own real estate. There may be other associations in the normal course of business.”

“The foundation provided draft copies of form 990 for the year ended 5/31/21 to all members of the board of directors. The draft copy was emailed to each member. All members were requested to respond to the administrative assistant to the executive vice president confirming review and with approval for filing. Detailed review was completed by the university's vice-president for business and cfo and comptroller prior to the release of the draft to the board of directors and before submission to the irs.”

“Members of the board of directors abstain from voting if the vote involves: 1) an entity in which the director has a material financial interest or in which the director is a general partner of a party to a transaction with the foundation; or 2) another entity of which the director is a board member or an officer and when the entity is a party to the transaction and the transaction is or should be considered by the board.”

“Form 990 and organizing documents are made available upon request. Documents are retained in the office of the executive vice president/corporate secretary of campbell university, a related organization. The office is open during regular business hours.”

“These documents are not made available to the public.”

“Changes in net assets: adjustment to annuity payable 8,274 annuity expense paid during the year (4,107) adjustment to csv of life insurance (57,249) ------------ total line 9 (53,082)”

“The audit oversight process has remained unchanged from the prior year.”

“The schedule of federal expenditures for the university's single audit did not include the usda funding (loan) closed during the 5/31/21 year. The foundation's schedule of federal awards for the year ended 5/31/21 was separately issued and audited in accordance with the uniform guidance.”

“Description:title search total fees:45659”

“Description:appraisals total fees:7325”