NEW HANOVER COMMUNITY ENDOWMENT INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization: NEW HANOVER COMMUNITY ENDOWMENT INC (EIN 85-3563370)
Tax period: 2023-01-01 to 2023-12-31
Filed: 2024-11-15
IRS object ID: 202423209349320842
Schema version: 2023v5.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule F
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-11-15T15:52:24-06:00	ReturnTs
Tax Period End	2023-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	420714325	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	RSM US LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	30 South Wacker Dr Suite 3300	AddressLine1Txt
City	Chicago	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	606063392	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2023-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	853563370	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	New Hanover Community Endowment Inc	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	NEWH	BusinessNameControlTxt
Phone	9107565990	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO Box 4730	AddressLine1Txt
City	Wilmington	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	284061730	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	Bill Cameron	PersonNm
Person Title	Board Chair	PersonTitleTxt
Phone	9107565990	PhoneNum
Signature	2024-11-15	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (1)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Rebekuh Eley	PreparerPersonNm
PTIN	P01247672	PTIN
Phone	3126343400	PhoneNum
Preparation	2024-11-15	PreparationDt

Field	Value	IRS element (for citing)
Tax	2023	TaxYr
Build TS	2024-10-15 13:58:12Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	Bill Cameron	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO Box 4730	AddressLine1Txt
City	Wilmington	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	284061730	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$96,620,793	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	https://www.nhcendowment.org	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2020	FormationYr
Legal Domicile State	NC	LegalDomicileStateCd
Activity Or Mission	To improve the health, education, safety, and economic opportunity of every person in our community.	ActivityOrMissionDesc
Voting Members Governing Body	13	VotingMembersGoverningBodyCnt
Voting Members Independent	13	VotingMembersIndependentCnt
Total Employee	10	TotalEmployeeCnt
Total Volunteers	15	TotalVolunteersCnt
Total Gross UBI	$300,475	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$262,327	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$37,500,000	CYContributionsGrantsAmt
PY Program Service Revenue	$0	PYProgramServiceRevenueAmt
CY Program Service Revenue	$0	CYProgramServiceRevenueAmt
PY Investment Income	-$36,712,168	PYInvestmentIncomeAmt
CY Investment Income	$35,412,305	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	-$36,712,168	PYTotalRevenueAmt
CY Total Revenue	$72,912,305	CYTotalRevenueAmt
PY Grants And Similar Paid	$9,288,550	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$595,311	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$1,442,925	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$742,594	PYOtherExpensesAmt
CY Other Expenses	$3,357,344	CYOtherExpensesAmt
PY Total Expenses	$10,626,455	PYTotalExpensesAmt
CY Total Expenses	$4,800,269	CYTotalExpensesAmt
PY Revenues Less Expenses	-$47,338,623	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$68,112,036	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,208,160,901	TotalAssetsBOYAmt
Total Assets EOY	$1,408,948,388	TotalAssetsEOYAmt
Total Liabilities BOY	$326,377	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$24,261	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,207,834,524	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,408,924,127	NetAssetsOrFundBalancesEOYAmt
Mission	To improve the health, education, safety, and economic opportunity of every person in our community.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$1,485,671	ExpenseAmt
Grant	$0	GrantAmt
Revenue	$0	RevenueAmt
Desc	Providing financial support to benefit the residents of New Hanover County and region. New Hanover Community Endowment, Inc. focuses on (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety in furtherance of the mission and initiatives of New Hanover County.	Desc
Total Program Service Expenses	$1,485,671	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Lobbying Activities	0	LobbyingActivitiesInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	Yes (1)	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	0	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	0	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	Yes (1)	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	0	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	5	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	10	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Quid Pro Quo Contributions	0	QuidProQuoContributionsInd
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	13	GoverningBodyVotingMembersCnt
Independent Voting Member	13	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	Yes (1)	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	0	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Joel Beeson CFOTreasurer	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	9107565990	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO Box 4730	AddressLine1Txt
City	Wilmington	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	284061730	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
Spence Broadhurst
Director/Assistant Treasurer	8.00	Yes (X)	Yes (X)	$0	$0	$0
Hannah Gage
Director/Secretary (until 09/30/23)	8.00	Yes (X)	Yes (X)	$0	$0	$0
Bill Cameron
Director/Board Chair	8.00	Yes (X)	Yes (X)	$0	$0	$0
Edel Segovia
Director/Vice Chair/Asst. Secretary	8.00	Yes (X)	Yes (X)	$0	$0	$0
Virginia Adams
Director (until 09/30/23)	8.00	Yes (X)		$0	$0	$0
Chris Boney
Director	8.00	Yes (X)		$0	$0	$0
Cedric Dickerson
Director	8.00	Yes (X)		$0	$0	$0
Michele Holbrook
Director	8.00	Yes (X)		$0	$0	$0
Patricia Kusek
Director	8.00	Yes (X)		$0	$0	$0
Pat Maguire
Director	8.00	Yes (X)		$0	$0	$0
Khadijia Tribie Reid
Director	8.00	Yes (X)		$0	$0	$0
David Sprunt
Director	8.00	Yes (X)		$0	$0	$0
Stedman Stevens
Director	8.00	Yes (X)		$0	$0	$0
Woody White
Director	8.00	Yes (X)		$0	$0	$0
Shannon Winslow
Director	8.00	Yes (X)		$0	$0	$0
William Buster
President	40.00		Yes (X)	$406,850	$0	$25,079
Lakesha McDay
Vice President	40.00		Yes (X)	$251,675	$0	$22,469
Joel Beeson
Treasurer	40.00		Yes (X)	$202,021	$0	$14,376

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$860,546	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$61,924	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	3	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K	0	CntrctRcvdGreaterThan100KCnt
Government Grants	$37,500,000	GovernmentGrantsAmt
Total Contributions	$37,500,000	TotalContributionsAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$33,620,793	TotalRevenueColumnAmt
Unrelated Business Revenue	$300,475	UnrelatedBusinessRevenueAmt
Exclusion	$33,320,318	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$25,500,000	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$23,708,488	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$1,791,512	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$1,791,512	TotalRevenueColumnAmt
Exclusion	$1,791,512	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$72,912,305	TotalRevenueColumnAmt
Related Or Exempt Func Income	$0	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$300,475	UnrelatedBusinessRevenueAmt
Exclusion	$35,111,830	ExclusionAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	Yes (X)	InfoInScheduleOPartIXInd

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$922,469	TotalAmt
Program Services	$691,852	ProgramServicesAmt
Management And General	$230,617	ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$392,519	TotalAmt
Program Services	$294,389	ProgramServicesAmt
Management And General	$98,130	ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$24,680	TotalAmt
Program Services	$18,510	ProgramServicesAmt
Management And General	$6,170	ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$28,414	TotalAmt
Program Services	$21,311	ProgramServicesAmt
Management And General	$7,103	ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$74,843	TotalAmt
Program Services	$56,132	ProgramServicesAmt
Management And General	$18,711	ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$31,985	TotalAmt
Management And General	$31,985	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$35,969	TotalAmt
Management And General	$35,969	ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$2,751,343	TotalAmt
Management And General	$2,751,343	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$155,053	TotalAmt
Program Services	$116,290	ProgramServicesAmt
Management And General	$38,763	ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$38,994	TotalAmt
Program Services	$29,246	ProgramServicesAmt
Management And General	$9,748	ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$71,880	TotalAmt
Program Services	$53,850	ProgramServicesAmt
Management And General	$18,030	ManagementAndGeneralAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$160,027	TotalAmt
Program Services	$120,020	ProgramServicesAmt
Management And General	$40,007	ManagementAndGeneralAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$10,378	TotalAmt
Program Services	$7,784	ProgramServicesAmt
Management And General	$2,594	ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$41,612	TotalAmt
Program Services	$31,210	ProgramServicesAmt
Management And General	$10,402	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$60,103	TotalAmt
Program Services	$45,077	ProgramServicesAmt
Management And General	$15,026	ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$4,800,269	TotalAmt
Program Services	$1,485,671	ProgramServicesAmt
Management And General	$3,314,598	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$951,843	BOYAmt
EOY	$94,304	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$31,914,122	BOYAmt
EOY	$14,817,081	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$12,794,920	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$1,175,294,936	BOYAmt
EOY	$1,381,242,083	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,208,160,901	BOYAmt
EOY	$1,408,948,388	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$21,377	BOYAmt
EOY	$24,261	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$305,000	BOYAmt
EOY	$0	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$326,377	BOYAmt
EOY	$24,261	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,207,834,524	BOYAmt
EOY	$1,408,924,127	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,207,834,524	BOYAmt
EOY	$1,408,924,127	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,208,160,901	BOYAmt
EOY	$1,408,948,388	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$68,112,036	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$132,977,567	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Public Organization170	Yes (X)	PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	$1,296,033,526	CurrentTaxYearMinus2YearsAmt
Current Tax Year	$37,500,000	CurrentTaxYearAmt
Total	$1,333,533,526	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	$1,296,033,526	CurrentTaxYearMinus2YearsAmt
Current Tax Year	$37,500,000	CurrentTaxYearAmt
Total	$1,333,533,526	TotalAmt

Field	Value	IRS element (for citing)
Public Support Total170	$1,333,533,526	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	$5,991,001	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$24,234,447	CurrentTaxYearMinus1YearAmt
Current Tax Year	$33,620,793	CurrentTaxYearAmt
Total	$63,846,241	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

Field	Value	IRS element (for citing)
Current Tax Year	$262,327	CurrentTaxYearAmt
Total	$262,327	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$1,397,642,094	TotalSupportAmt
First5 Years170	Yes (X)	First5Years170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule D IRS990ScheduleD

CY Endwmt Fund CYEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,207,834,524	BeginningYearBalanceAmt
Contributions	$37,500,000	ContributionsAmt
Investment Earnings Or Losses	$165,638,529	InvestmentEarningsOrLossesAmt
Administrative Expenses	$2,048,926	AdministrativeExpensesAmt
End Year Balance	$1,408,924,127	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,315,756,843	BeginningYearBalanceAmt
Investment Earnings Or Losses	-$97,367,864	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$9,288,550	GrantsOrScholarshipsAmt
Administrative Expenses	$1,265,905	AdministrativeExpensesAmt
End Year Balance	$1,207,834,524	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$92,968	BeginningYearBalanceAmt
Contributions	$1,296,033,526	ContributionsAmt
Investment Earnings Or Losses	$20,413,157	InvestmentEarningsOrLossesAmt
Administrative Expenses	$782,808	AdministrativeExpensesAmt
End Year Balance	$1,315,756,843	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Contributions	$100,000	ContributionsAmt
Administrative Expenses	$7,032	AdministrativeExpensesAmt
End Year Balance	$92,968	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.00000	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.00000	PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY	1.00000	TermEndowmentBalanceEOYPct
Endowments Held Unrelated Org	Yes (1)	EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org	0	EndowmentsHeldRelatedOrgInd
Total Book Value Land Buildings	$0	TotalBookValueLandBuildingsAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$203,138,529	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$132,977,567	NetUnrealizedGainsInvstAmt
Revenue Not Reported	$132,977,567	RevenueNotReportedAmt
Revenue Subtotal	$70,160,962	RevenueSubtotalAmt
Investment Expenses Not Incld	$2,751,343	InvestmentExpensesNotIncldAmt
Revenue Not Reported Fincl Stmt	$2,751,343	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$72,912,305	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$2,048,926	TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported	$0	ExpensesNotReportedAmt
Expenses Subtotal	$2,048,926	ExpensesSubtotalAmt
Investment Expenses Not Incld2	$2,751,343	InvestmentExpensesNotIncld2Amt
Expenses Not Rpt Fincl Stmt	$2,751,343	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$4,800,269	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

Part V, Line 4:

The endowment funds are used to help provide financial support to (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety missions and initiatives in New Hanover County.

Part X, Line 2:

The Endowment is generally exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. In addition, the Endowment qualifies for charitable contribution deductions and has been classified as an organization that is not a private foundation. Income that is not related to exempt purposes, less applicable deductions, may be subject to federal and state corporate income taxes. The Endowment did not have any significant net unrelated business income for the years ending December 31, 2023 and 2022. Management evaluated the tax positions of the Endowment and concluded that the Endowment had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of the Income Taxes Topic of the FASB ASC.

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (2 entries)

RegionRegionTxt	OfficesOfficesCnt	EmployeeEmployeeCnt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Region Total ExpendituresRegionTotalExpendituresAmt
Central America and the Caribbean	0	0	Investments	$2,438,000
Europe (Including Iceland & Greenland)	0	0	Investments	$27,207,000

Field	Value	IRS element (for citing)
Subtotal Offices	0	SubtotalOfficesCnt
Subtotal Employees	0	SubtotalEmployeesCnt
Continuation Total Office	0	ContinuationTotalOfficeCnt
Continuation Total Employee	0	ContinuationTotalEmployeeCnt
Total Office	0	TotalOfficeCnt
Total Employee	0	TotalEmployeeCnt
Subtotal Spent	$29,645,000	SubtotalSpentAmt
Continuation Spent	$0	ContinuationSpentAmt
Total Spent	$29,645,000	TotalSpentAmt
Transfer To Foreign Corp	Yes (1)	TransferToForeignCorpInd
Interest In Foreign Trust	0	InterestInForeignTrustInd
Foreign Corp Ownership	Yes (1)	ForeignCorpOwnershipInd
Passive Foreign Investmest Co	Yes (1)	PassiveForeignInvestmestCoInd
Foreign Partnership	Yes (1)	ForeignPartnershipInd
Boycott Countries	0	BoycottCountriesInd

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	0	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	0	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	0	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	0	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	0	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	0	AnyNonFixedPaymentsInd
Initial Contract Exception	0	InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
William Buster
President	$406,850	$0	$0	$0	$0	$0	$4,069	$0	$21,010	$0	$431,929	$0	$0	$0
Lakesha McDay
Vice President	$251,675	$0	$0	$0	$0	$0	$5,033	$0	$17,436	$0	$274,144	$0	$0	$0
Joel Beeson
Treasurer	$196,950	$0	$0	$0	$5,071	$0	$4,142	$0	$10,234	$0	$216,397	$0	$0	$0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Form 990, Part VI, Section A, line 4	During 2023, technical corrections were made to the Bylaws to clarify the application of the Unitrust Formula.
Form 990, Part VI, Section B, line 11b	A copy of the Form 990 is distributed, reviewed, and approved internally before it is filed with the IRS.
Form 990, Part VI, Section B, line 12c	Each Director, Officer, and Key Employee shall, upon commencement of his or her employment or term of office, and annually thereafter, sign a statement acknowledging and complying with this Policy.
Form 990, Part VI, Section B, line 15	In establishing compensation the proposed salary for each Officer is reviewed against market data from industry sources. This data is provided to the Finance Committee which reviews the proposed salaries and market data for similar size foundations and locations and discusses it in the committee. The Finance Committee then creates a salary recommendation that is sent to the full board. This recommendation is discussed at the board level and salaries are set.
Form 990, Part VI, Section C, line 19	These documents are available upon request for the same period of disclosure as set forth in the IRC Section 6104(d).
Form 990, Part IX, line 11g	Consultant Fees: Program service expenses 116,290. Management and general expenses 38,763. Fundraising expenses 0. Total expenses 155,053.