CAROLINA UNIVERSITY: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- CAROLINA UNIVERSITY (EIN 56-0594591)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-05-12
- IRS object ID
- 202341329349303964
- Schema version
- 2021v4.2
- 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 E
- Schedule F
- Schedule I
- Schedule J
- Schedule L
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-12T11:18:52-05:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 631133963 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Haynes Downard LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3161 Cahaba Heights Road Suite 203 | AddressLine1Txt |
| City | Birmingham | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 35243 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560594591 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Carolina University | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CARO | BusinessNameControlTxt |
| Phone | 3367258344 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 South Broad Street | AddressLine1Txt |
| City | WinstonSalem | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27101 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Christopher Ronk | PersonNm |
| Person Title | Chief Financial Officer | PersonTitleTxt |
| Phone | 3367258344 | PhoneNum |
| Signature | 2023-05-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Christopher | PersonFirstNm |
| Person Last | Ronk | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | J Max Campbell Jr | PreparerPersonNm |
| PTIN | P00743822 | PTIN |
| Phone | 2052543380 | PhoneNum |
| Preparation | 2023-05-10 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Christopher Ronk | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 South Broad Street | AddressLine1Txt |
| City | WinstonSalem | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $15,458,525 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1947 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | A Christ-centered university committed to exceptional teaching, scholarly research, creative innovation, and professional collaboration. | ActivityOrMissionDesc |
| Voting Members Governing Body | 19 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 14 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 4 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,415,089 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,065,975 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $10,650,970 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $12,236,786 | CYProgramServiceRevenueAmt |
| PY Investment Income | $142,703 | PYInvestmentIncomeAmt |
| CY Investment Income | $9,763 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,577,354 | PYOtherRevenueAmt |
| CY Other Revenue | $2,146,001 | CYOtherRevenueAmt |
| PY Total Revenue | $13,786,116 | PYTotalRevenueAmt |
| CY Total Revenue | $15,458,525 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $4,104,771 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $4,401,376 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,634,091 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,342,995 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $445,084 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,278,193 | PYOtherExpensesAmt |
| CY Other Expenses | $5,421,338 | CYOtherExpensesAmt |
| PY Total Expenses | $14,017,055 | PYTotalExpensesAmt |
| CY Total Expenses | $16,165,709 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$230,939 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$707,184 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $16,856,188 | TotalAssetsBOYAmt |
| Total Assets EOY | $17,637,146 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,517,100 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $13,203,277 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $6,339,088 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $4,433,869 | NetAssetsOrFundBalancesEOYAmt |
| Mission | A Christ-centered university committed to exceptional teaching, scholarly research, creative innovation, and professional collaboration. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $11,314,354 | ExpenseAmt |
| Grant | $4,401,376 | GrantAmt |
| Revenue | $10,536,006 | RevenueAmt |
| Desc | Instruction, academic support, and student services associated with the provision of associate, baccalaureate, master, and doctoral programs in resident and online formats. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,838,532 | ExpenseAmt |
| Revenue | $3,846,781 | RevenueAmt |
| Desc | Auxiliary and other services in regard to the University's provision for higher education including dormitories, food service, bookstore, sporting events, and other miscellaneous student service. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $14,152,886 | 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 | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | Yes (1) | 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 | Yes (1) | 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 | Yes (1) | 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 | 80 | IRPDocumentCnt |
| IRP Document W2 G | 246 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 |
| 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 | 19 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 14 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | 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 | 0 | 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 | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NC | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Christopher Ronk | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3367258344 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 South Broad Street | AddressLine1Txt |
| City | WinstonSalem | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27101 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| Argano Matt | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Chapman Karolyn | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Decker Rob | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Hand Mike | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Leavell David | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Mitchener Mike | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Traxler Dale | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Williams Christie | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Williams George Abie | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Rawlings Herb | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Alford Tony | ||||||
| Treasurer | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| Bryson Dana Lu | ||||||
| Secretary | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| Steele Mark | ||||||
| Vice Chairman | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| Wilburn Shahn | ||||||
| Chairman of the Board | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| Condon Steve | ||||||
| Chancellor | 40.00 | $121,919 | $0 | $0 | Yes (X) | |
| Ronk Christopher | ||||||
| Chief Financial Officer | 40.00 | $72,396 | $0 | $0 | Yes (X) | |
| Gopalan Sandeep | ||||||
| Exec. Vice President | 40.00 | $175,013 | $0 | $0 | Yes (X) | |
| Edens Byron | ||||||
| Vice President | 40.00 | $70,236 | $0 | $0 | Yes (X) | |
| Petitt Charles | ||||||
| President/CEO | 40.00 | $126,849 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $566,413 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | 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 |
| All Other Contributions | $1,065,975 | AllOtherContributionsAmt |
| Total Contributions | $1,065,975 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Tuition and fees | 611710 | $10,536,006 | $10,536,006 |
| Sales & services of auxillary | 611710 | $1,700,780 | $1,700,780 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $12,236,786 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,763 | TotalRevenueColumnAmt |
| Exclusion | $9,763 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Covid relief funding | 900099 | $2,047,927 | $2,047,927 |
| Other revenue | 611710 | $98,074 | $98,074 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,146,001 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,458,525 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,382,787 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $9,763 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,401,376 | TotalAmt |
| Program Services | $4,401,376 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $566,413 | TotalAmt |
| Program Services | $502,803 | ProgramServicesAmt |
| Management And General | $49,814 | ManagementAndGeneralAmt |
| Fundraising | $13,796 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,113,580 | TotalAmt |
| Program Services | $4,539,308 | ProgramServicesAmt |
| Management And General | $449,722 | ManagementAndGeneralAmt |
| Fundraising | $124,550 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $322,023 | TotalAmt |
| Program Services | $163,936 | ProgramServicesAmt |
| Management And General | $150,052 | ManagementAndGeneralAmt |
| Fundraising | $8,035 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $340,979 | TotalAmt |
| Program Services | $306,701 | ProgramServicesAmt |
| Management And General | $23,559 | ManagementAndGeneralAmt |
| Fundraising | $10,719 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $407,072 | TotalAmt |
| Program Services | $193,211 | ProgramServicesAmt |
| Management And General | $213,861 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $222,660 | TotalAmt |
| Program Services | $2,375 | ProgramServicesAmt |
| Fundraising | $220,285 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,371 | TotalAmt |
| Program Services | $29,165 | ProgramServicesAmt |
| Fundraising | $1,206 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $264,993 | TotalAmt |
| Program Services | $264,993 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $323,519 | TotalAmt |
| Program Services | $295,690 | ProgramServicesAmt |
| Management And General | $17,841 | ManagementAndGeneralAmt |
| Fundraising | $9,988 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $308,318 | TotalAmt |
| Program Services | $173,348 | ProgramServicesAmt |
| Management And General | $134,970 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,202 | TotalAmt |
| Program Services | $404,202 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,584 | TotalAmt |
| Program Services | $59,970 | ProgramServicesAmt |
| Management And General | $95,614 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Meal plan | $1,150,188 | $1,150,188 | ||
| Repairs and maintenance | $590,670 | $590,670 | ||
| Other expenses | $438,979 | $362,581 | $61,132 | $15,266 |
| Supplies | $325,318 | $299,770 | $10,404 | $15,144 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $799,464 | TotalAmt |
| Program Services | $412,599 | ProgramServicesAmt |
| Management And General | $360,770 | ManagementAndGeneralAmt |
| Fundraising | $26,095 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,165,709 | TotalAmt |
| Program Services | $14,152,886 | ProgramServicesAmt |
| Management And General | $1,567,739 | ManagementAndGeneralAmt |
| Fundraising | $445,084 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $158,180 | BOYAmt |
| EOY | $148,358 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,665,000 | BOYAmt |
| EOY | $2,135,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $774,388 | BOYAmt |
| EOY | $3,062,859 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,040 | BOYAmt |
| EOY | $26,693 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $251,402 | BOYAmt |
| EOY | $230,202 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $126,936 | BOYAmt |
| EOY | $266,722 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $10,753,803 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,566,537 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,378,433 | BOYAmt |
| EOY | $4,187,266 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $430,159 | BOYAmt |
| EOY | $48,396 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,650 | BOYAmt |
| EOY | $31,650 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,000,000 | BOYAmt |
| EOY | $7,500,000 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,856,188 | BOYAmt |
| EOY | $17,637,146 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $481,044 | BOYAmt |
| EOY | $1,480,439 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $440,344 | BOYAmt |
| EOY | $354,441 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,372 | BOYAmt |
| EOY | $49,615 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,129,922 | BOYAmt |
| EOY | $5,914,059 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,410,481 | BOYAmt |
| EOY | $5,401,949 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,937 | BOYAmt |
| EOY | $2,774 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,517,100 | BOYAmt |
| EOY | $13,203,277 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,410,542 | BOYAmt |
| EOY | $549,949 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,928,546 | BOYAmt |
| EOY | $3,883,920 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,339,088 | BOYAmt |
| EOY | $4,433,869 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,856,188 | BOYAmt |
| EOY | $17,637,146 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$707,184 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $29,253 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$1,227,288 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | 0 | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
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 | $2,897,781 | BeginningYearBalanceAmt |
| Contributions | $0 | ContributionsAmt |
| Investment Earnings Or Losses | $39,016 | InvestmentEarningsOrLossesAmt |
| Administrative Expenses | $77,827 | AdministrativeExpensesAmt |
| End Year Balance | $2,858,970 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $2,841,008 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $95,148 | InvestmentEarningsOrLossesAmt |
| Administrative Expenses | $38,375 | AdministrativeExpensesAmt |
| End Year Balance | $2,897,781 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $2,822,678 | BeginningYearBalanceAmt |
| Contributions | $13,300 | ContributionsAmt |
| Investment Earnings Or Losses | $44,375 | InvestmentEarningsOrLossesAmt |
| Administrative Expenses | $39,345 | AdministrativeExpensesAmt |
| End Year Balance | $2,841,008 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $2,671,464 | BeginningYearBalanceAmt |
| Contributions | $35,000 | ContributionsAmt |
| Investment Earnings Or Losses | $89,657 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $73,275 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $16,382 | AdministrativeExpensesAmt |
| End Year Balance | $2,706,464 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $792,064 | BeginningYearBalanceAmt |
| Contributions | $1,879,400 | ContributionsAmt |
| Investment Earnings Or Losses | $55,459 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $42,005 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $13,454 | AdministrativeExpensesAmt |
| End Year Balance | $2,671,464 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,494,823 | OtherCostOrOtherBasisAmt |
| Book Value | $1,494,823 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,854,743 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,060,820 | DepreciationAmt |
| Book Value | $1,793,923 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,404,237 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,505,717 | DepreciationAmt |
| Book Value | $898,520 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,187,266 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Real estate held for sale | Desc |
| Book Value | $7,500,000 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $7,500,000 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Rickard annuity | Desc |
| Amt | $2,774 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,774 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part X, Line 2: | FormAndLineReferenceDesc |
| Explanation | As of June 30, 2022, the University has no uncertain tax positions that require recognition or disclosure in the financial statements. | ExplanationTxt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule E, Part I, Line 3 | Carolina University publishes this information in the student handbook as well as advertising through local media. |
| Schedule E, Part I, Line 6 | Financial aid is received from the department of education for qualifying students. The college's federal assistance consists of federal supplemental educational opportunity grant, federal family education loans, federal work study, federal pell grant program and federal academic competitiveness grant. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
| 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 | $0 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $0 | TotalSpentAmt |
Foreign Individuals Grants ForeignIndividualsGrantsGrp (7 entries)
| Type Of AssistanceTypeOfAssistanceTxt | RegionRegionTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt | Manner Of Cash DisbursementMannerOfCashDisbursementTxt | Valuation Method UsedValuationMethodUsedDesc |
|---|---|---|---|---|---|
| Financial aid | Australia | 3 | $3,666 | Tuition discount | Book |
| Financial aid | Central America & Caribean | 50 | $282,959 | Tuition discount | Book |
| Financial aid | Europe | 21 | $201,138 | Tuition discount | Book |
| Financial aid | North America | 10 | $34,184 | Tuition discount | Book |
| Financial aid | South America | 127 | $319,970 | Tuition discount | Book |
| Financial aid | South Asia | 49 | $243,327 | Tuition discount | Book |
| Financial aid | Sub-Saharan Africa | 86 | $138,360 | Tuition discount | Book |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transfer To Foreign Corp | 0 | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | 0 | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part I, Line 2: | International students. These students are awarded various noncash discounts in the form of tuition scholarships. They do not receive refunds from their account, nor do they receive awards that exceed their charges. The majority of these fall into the following categories: Partnering programs - These students pay a portion (about 1/3) of the cost. Then receive discounts/scholarships for the rest. About half of these scholarships are funded by partnering organizations or donors, the other half are funded from the budget. We work closely with the partnering organizations to select qualifying students. Teach All Nations and Vision Scholars - These students have been selected as outstanding international students to receive up to 100% tuition discounts/scholarships. These students typically only pay the fees (some pay a portion of tuition). The majority of these awards are funded by restricted gifts. Our ultimate goal over the next 20 years is to have one scholarship recipient from every country in the world. Standard Institutional Aid - International students who enroll through our traditional programs qualify for many of the same awards that other students receive. These are mostly funded from our budget. Many of these students come to the U.S. on a student Visa and attend classes on the main campus. |
| Part III Accounting Method: |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Scholarships | GrantTypeTxt |
| Recipient | 784 | RecipientCnt |
| Cash Grant | $3,177,772 | CashGrantAmt |
| Valuation Method Used | Book | ValuationMethodUsedDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Page 1, Part I, Line 2 | FormAndLineReferenceDesc |
| Explanation | CAROLINA UNIVERSITY EVALUATES ELIGIBILITY BY RECEIVING WRITTEN REPRESENTATIONS AND FROM REVIEW OF A STUDENTS FILE. ITEMS TO BE CHECKED INCLUDE CU'S APPLICATION, HIGH SCHOOL DIPLOMA, DROP/ADD FORMS, AND WITHDRAWAL FORMS. ONCE A STUDENT HAS COMPLETED THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) APPLICATION, CU SUBMITS IT ELECTRONICALLY TO ED. ONCE IT IS PROCESSED THE STUDENT WILL RECEIVE A STUDENT AID REPORT AND THE SCHOOL WILL RECEIVE AN ISIR. THE ISIR IS KEPT IN THE STUDENTS FINANCIAL AID FILE. THE ISIR CONTAINS THE EFC AMOUNT, WHICH IS THE AMOUNT THE STUDENT IS EXPECTED TO PAY. THE COST OF ATTENDANCE IS FOUND ON WORKSHEETS GENERATED BY WEBER. THE EFC AND COA ARE BOTH USED TO CALCULATE FINANCIAL NEED. THE ISIR ALSO PROVIDES FINANCIAL AID HISTORY, MATCHES SOCIAL SECURITY DATA, SELECTIVE SERVICE DATA AND CHECKS CITIZENSHIP. FFEL - CHECKS FROM LOAN INSTITUTIONS ARE REQUESTED FROM STUDENTS THROUGH LOAN APPLICATIONS. LOAN APPLICATIONS ARE CERTIFIED BY CU AND SENT BY STUDENT FINANCIAL AID OFFICE. MONEY IS DEPOSITED INTO A SEPARATE BANK ACCOUNT USING ACH/EFT SYSTEM. ONCE CU RECEIVES THE DISBURSEMENT RECORD FROM THE LENDER, THE FINANCIAL AID OFFICE BATCHES THE LOANS AND SENDS THEM TO THE BUSINESS OFFICE. THE BUSINESS OFFICE VERIFIES FUNDS AND THEN CREDITS THE STUDENTS ACCOUNT. SOMETIMES CHECKS ARE SENT IN THE STUDENT'S AND CU'S NAME. THESE ARE DEPOSITED SEPARATELY INTO THE BANK ACCOUNT BY THE BUSINESS OFFICE. CHECKS ARE SIGNED BY THE STUDENT, AND CU POSTS CHECKS TO THE STUDENT'S ACCOUNT. LOANS COME IN TWO DISBURSEMENTS - GENERALLY ONE FOR FIRST SEMESTER AND ONE FOR SECOND. THE WHOLE DISBURSEMENT IS APPLIED TO THE STUDENTS ACCOUNT. COST OF ATTENDANCE IS ALWAYS GREATER THAN LOAN PROCEEDS AND ALL OTHER FINANCIAL ASSISTANCE. ANY EXCESS CAN BE WITHDRAWN BY THE STUDENT FOR LIVING EXPENSES. PELL, SEOG & FWS - CU IS GIVEN AN INITIAL AUTHORIZATION FOR FUNDS BY THE DEPARTMENT OF EDUCATION FOR WHICH IT CANNOT EXCEED. CU CALLS DOWN THE FUNDS THROUGH GAPS AND THE MONEY IS ELECTRONICALLY DEPOSITED INTO A SEPARATE FEDERAL FUNDS ACCOUNT AT LEXINGTON STATE BANK, THEN THEY ARE SWEPT INTO AN INVESTMENT ACCOUNT EACH NIGHT BY THE BANK. THE FUNDS ARE ONLY REQUESTED AFTER DISBURSEMENT TO STUDENTS ACCOUNT. PER FWS, FUNDS ARE PAID TO THE STUDENTS THROUGH CU PAYROLL AS EARNED | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Gopalan Sandeep | PersonNm |
| Title | Exec. Vice President | TitleTxt |
| Base Compensation Filing Org | $175,013 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $175,013 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan To OrganizationLoanToOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd | Loan From OrganizationLoanFromOrganizationInd |
|---|---|---|---|---|---|---|---|---|
| Nancye Alloway | ||||||||
| Trustee | Charitable gift annuities | Yes (X) | $113,000 | $49,615 | 0 | Yes (1) | Yes (1) | |
| Christopher Ronk | ||||||||
| CFO | $26,693 | 0 | Yes (1) | Yes (1) | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $76,308 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section B, line 11b | The 990 is reviewed by the Finance Committee before it is filed. |
| Form 990, Part VI, Section B, line 12c | Officers, trustees, and key employees are required to complete a yearly survey and agree with the policy that is currently in place. |
| Form 990, Part VI, Section B, line 15 | The Board meets in executive sessions to consider salaries for top officials. Compensation is determined by budget contraints as well as input from the president and board members. |
| Form 990, Part VI, Section C, line 19 | The Organization makes its governing documents, conflict of interest policy, and financial statements available upon request. |
| Form 990, Part XI, line 9: | Alabama campus expenses -202,288. Fair value adjustment on real estate held for sale 575,000. Loss on uncollectible contribution receivable -1,600,000. |
| Form 990, Page 12, Part XII, Line 2c | The organization has not changed its oversight process or selection process of the audit from the prior year. |
| Form 990, Page 12, Part XII, Line 3b | The Organization is in the process of undergoing the required audits. |