The authority for the establishment of private, non-profit corporations (“Associated Entities”), whose sole purpose is to support the university, resides in NC General Statute Section 116-30.20. Section 116-30.20 further provides that the university may provide administrative services, equipment, supplies, and other resources to each Associated Entity.
UNC Policy 600.2.5.2[R] articulates the standards for governance and operations of associated entities. Pursuant to UNC Policy, an associated entity is “any foundation, association, corporation, limited liability company (LLC), partnership, or other non-profit entity that was: (a) established by officers of the University; or (b) that is controlled by the University; or (c) that raises funds in the name of the University; or (d) that has a primary purpose of providing services or conducting activities in furtherance of the University’s mission pursuant to an agreement with the University; or (e) that has a tax-exempt status that is based on being a support organization for the University.”