Associated Entities, Endowment, & Leasing Services

Seahawk

ASSOCIATED ENTITIES

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.” 

Our office oversees the administration of eight separate, singe-member Associated Entities and provides services including, but not limited to, accounting, budgeting, financial reporting, board communications, benchmarking, audit coordination, tax return coordination, debt service, tax exempt bond compliance, insurance services, and other help and guidance to the campus and Associated Entities to assist them in managing their financial resources.

 

UNCW ENDOWMENT

The Endowment Fund is governed by a six to nine-member, university-appointed board.  The Board’s primary role is to oversee the investment of the portfolio among external investment firms, and monitor investment performance and asset class allocation.  The Board regularly reviews the investment performance of the Fund to ensure adherence to the investment policy and progress toward the stated investment objectives.

The role of the University’s Endowment office is to:

  1. Provide centralized accounting services for the university’s Unitized Endowment Pool: this is a form of endowment investing that allows multiple endowments to invest in the same pool of assets.  Each endowment owns individual units, which are valued monthly.  New endowments entering the pool buy in by receiving units in the pool valued as of a specific buy-in date.  The unit basis determines each individual endowment’s market value and serves as the basis for distribution of earnings.
  2. Determine annual spending distributions for each endowment in the Unitized Endowment Pool
  3. Support University Advancement by providing timely and accurate financial information on donors’ individual endowments
  4. Provide quarterly performance reports to the Endowment Board
  5. Benchmarking of Endowment Fund’s performance relative to other educational institutions
  6. Endowment Board communication and presentations

 

LEASING SERVICES

The Leasing Services office of the Division of Business Affairs is responsible for the management, development, and stewardship of the university’s real estate portfolio.

The Real Estate office coordinates activities among many areas of campus to implement:

  1. Ground and Space/Leasing, Development and Construction
  2. Negotiation and coordination of real property acquisitions and dispositions
  3. Comparative analysis of campus, local, regional, and national markets
  4. Tenant management relations
  5. Facility project coordination
  6. Coordination of cell carrier projects