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This department reports to the Associate Vice Chancellor for Finance and Budget.

Associated Entities and Investment Accounting provides extensive accounting, administrative and investment support to the University and UNC-Chapel Hill affiliated foundations and associated entities. Departmental responsibilities include preparing the financial statements and managing the audits for the UNC-Chapel Hill Foundation, Inc., Chapel Hill Foundation Real Estate Holdings, Inc., the UNC-Chapel Hill Foundation Investment Fund, Inc., Carolina Research Ventures, LLC, Qura Therapeutics, LLC and HVPV Holdings, LLC. The department also compiles, monitors and prepares the UNC-CH associated entity compliance report as required by the Board of Governors’ policy on university associated entities.

The department updates, administers and maintains the Unit Accounting System (UAS) which tracks university and associated entity endowment investments in the Chapel Hill Foundation Investment Fund, Inc. (CHIF). For each individual endowment invested in CHIF, UAS reports contribution value, market value and estimated payout across all university and foundation funds. The department also reconciles and provides management reports for the university temporary pool, intermediate pool and university trust funds.


Associated Entities

Associated Entities unit prepares the financial statements and manages the annual audits for Carolina Research Ventures, LLC, Qura Therapeutics, LLC and HVPV Holdings, LLC.  In addition, the unit establishes new sources for associated entities and deactivates sources no longer needed in foundations and associated entities.  The unit also prepares the annual UNC-Chapel Hill associated entity compliance report required by the Board of Governors.

The AE Unit is also responsible for:

  • Monthly associated entity reports
  • Foundation/associated entity audit confirmations

Foundation and Investment Accounting

Foundation and Investment Accounting establishes new foundation sources and reconciles the contribution and market values for university and associated entity endowments invested in the Chapel Hill Foundation Investment Fund, Inc. (CHIF) as well as the university’s temporary pool and intermediate pool.  Endowments and trust funds benefit schools and departments across campus and provide distributions to fund professorships, scholarships, and departmental and university initiatives.  The unit also prepares the financial statements for the UNC-Chapel Hill Foundation, Inc., Chapel Hill Foundation Real Estate Holdings and CHIF.  These entities provide funding and resources to aid, support and promote teaching, research and service in the various educational, scientific, scholarly, professional, artistic and creative endeavors of Carolina.

Contact the foundation and investment accounting team if you need:

  • To request investment/information on endowment additions, withdrawals and market value.
  • To establish or request information on new sources for foundations and associated entities.
  • To provide support and answer questions on money market investments.
  • To provide support and services to university associated entities including general ledger maintenance and audit assistance.
  • To provide accounting and administrative support for the UNC-CH Foundation, Inc. and its two component units – Chapel Hill Foundation Real Estate Holdings, Inc. and Granville Towers, LLC.


Auditing Services Rules



Chandrika Rao
Executive Director of Associated Entities and Associate Controller
104 Airport Drive, Suite 3400
Campus Box 1210