2026-05-14T09:56:23-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 570314395 FURMAN UNIVERSITY FURM 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 SUSAN MADDUX VP FOR FINANCE & ADMINISTRATION 8642943496 2026-04-15 1 1 SARAH HINTZ P00492291 7196350330 2026-05-13 2024 2025-03-06 01:10:19Z SUSAN MADDUX 3300 POINSETT HIGHWAY GREENVILLE SC 29613 614481625 0 X WWW.FURMAN.EDU X 1826 SC FURMAN UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING DISTINCTIVE UNDERGRADUATE EDUCATION EMPHASIZING AN ENGAGED APPROACH COMBINING CLASSROOM LEARNING WITH REAL WORLD EXPERIENCES AND SELF-DISCOVERY. 31 31 2357 31 -502356 23575 43802648 38102756 184035811 194004922 60117373 64412741 927751 330452 288883583 296850871 85801841 92973746 0 0 92832745 93271351 0 0 5237749 91498301 93809030 270132887 280054127 18750696 16796744 1399667880 1449547125 269319882 269707562 1130347998 1179839563 THE PRIMARY MISSION OF FURMAN AS A LIBERAL ARTS INSTITUTION IS TO PROVIDE A DISTINCTIVE EDUCATION IN FINE ARTS, HUMANITIES, SOCIAL SCIENCES, MATHEMATICS AND THE SCIENCES, AS WELL AS SELECTED PROFESSIONAL DISCIPLINES. 0 0 181757985 92973746 147827221 INSTRUCTION OF STUDENTS IN BOTH UNDERGRADUATE AND GRADUATE PROGRAMS. A PERSONALIZED FOUR-YEAR PATHWAY FOR STUDENTS INSTITUTED BY THE FURMAN ADVANTAGE INCLUDES HIGH IMPACT, ENGAGED LEARNING THROUGH RESEARCH, INTERNSHIPS, AND STUDY ABROAD PROGRAMS. SCHOLARSHIPS ARE AWARDED TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED AND ACADEMIC MERIT. 39443847 0 4299344 STUDENT SERVICES INCLUDES INTERCOLLEGIATE ATHLETICS, INTRAMURAL AND CLUB SPORTS, ENROLLMENT MANAGEMENT, STUDENT GOVERNMENT AND A LARGE VARIETY OF STUDENT ORGANIZATIONS, SERVICES AND ACTIVITIES. 29031837 0 42274303 THE UNIVERSITY CONDUCTED AUXILIARY ENTERPRISES FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF AND THE AT-LARGE COMMUNITY. THESE AUXILIARY ENTERPRISES INCLUDE STUDENT HOUSING, DINING SERVICES, GOLF COURSE, SPORTS ARENA AND CONFERENCE CENTER. 250233669 1 1 0 0 0 1 0 1 1 1 1 1 0 1 1 1 0 1 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 3325 0 1 2357 1 1 1 0 0 0 0 1 1 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 SC X X DAWN DURHAM 8642942000 3300 POINSETT HIGHWAY GREENVILLE SC 29613 A ALEXANDER TAYLOR TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY W MCDADE TRUSTEE 2.00 0.00 X 0 0 0 BETH TAYLOR TRUSTEE 2.00 0.00 X 0 0 0 C KEMMONS WILSON III TRUSTEE 2.00 0.00 X 0 0 0 CHARLES AMBROSE TRUSTEE 2.00 0.00 X 0 0 0 CHRISTI NEWSOM BYRON TRUSTEE 2.00 0.00 X 0 0 0 CHRISTINA HENDERSON TRUSTEE 2.00 0.00 X 0 0 0 CYNTHIA DAVIS VICE CHAIR 2.00 0.00 X X 0 0 0 DAVID LAXER TRUSTEE 2.00 0.00 X 0 0 0 DAVID MAY TRUSTEE 2.00 0.00 X 0 0 0 DENTON MCLANE TRUSTEE 2.00 0.00 X 0 0 0 FRANCES ELLISON TRUSTEE 2.00 0.00 X 0 0 0 JAMES A LANIER JR TRUSTEE 2.00 0.00 X 0 0 0 JASON RICHARDS SECRETARY 2.00 0.00 X X 0 0 0 JOHANNA FRIERSON TRUSTEE 2.00 0.00 X 0 0 0 KEVIN R BRYANT TRUSTEE 2.00 0.00 X 0 0 0 KEVIN T BYRNE CHAIR 2.00 0.00 X X 0 0 0 KRISTIN BAUCOM DAVIES TRUSTEE 2.00 0.00 X 0 0 0 LEE C DILLWORTH TRUSTEE 2.00 0.00 X 0 0 0 LISA RUST TRUSTEE 2.00 0.00 X 0 0 0 MARK KAISER TRUSTEE 2.00 0.00 X 0 0 0 MATTHEW W WILSON TRUSTEE 2.00 0.00 X 0 0 0 PAUL ROBERTSON TRUSTEE 2.00 0.00 X 0 0 0 RACHELLE H THOMPSON TRUSTEE 2.00 0.00 X 0 0 0 RAYMOND KING TRUSTEE 2.00 0.00 X 0 0 0 RICHARD WRENN TRUSTEE 2.00 1.00 X 0 0 0 STEVE SPINKS TRUSTEE 2.00 0.00 X 0 0 0 SUSAN THOMSON SHI TRUSTEE 2.00 0.00 X 0 0 0 THOMAS CULLEN TRUSTEE 2.00 0.00 X 0 0 0 TRACI MILLER TRUSTEE 2.00 0.00 X 0 0 0 YENDELELA NEELY HOLSTON TRUSTEE 2.00 0.00 X 0 0 0 BETH PONTARI VP FOR ACAD AFFAIRS & PROVOST 40.00 0.00 X 303493 0 60212 CONNIE L CARSON VP FOR STUDENT LIFE 40.00 0.00 X 298635 0 43157 DR ELIZABETH DAVIS PRESIDENT 40.00 0.00 X 633775 0 69198 EMILY SCHUCK VP OF ENROLLMENT MANAGEMENT 40.00 0.00 X 212966 0 57763 HEIDI MCCRORY VP FOR DEV (THRU 10/24) 40.00 0.00 X 242138 0 45778 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 40.00 0.00 X 315039 0 69193 SHON HERRICK VP FOR DEV (FROM 11/24) 40.00 0.00 X 168097 0 52703 SUSAN MADDUX VP FOR FIN & ADMIN 40.00 2.00 X 415651 0 47764 THOMAS EVELYN II VP FOR UNI COMM (THRU 3/25) 40.00 0.00 X 303631 0 54757 ELIZABETH SEMAN CHIEF OF STAFF 40.00 0.00 X 187837 0 21027 JEFF REDDERSON AVP FOR FACILITIES SERVICES 40.00 0.00 X 180799 0 42636 JEREMY CASS DEAN OF FACULTY 40.00 0.00 X 208329 0 23505 MEREDITH E GREEN GENERAL COUNSEL 40.00 0.00 X 195429 0 48173 ROBERT KENNEY CHIEF INVESTMENT OFFICER 40.00 0.00 X 317843 0 68501 AUSTIN JOHNK DIRECTOR OF INVESTMENTS 40.00 0.00 X 210276 0 47354 CLAYTON HENDRIX HEAD FOOTBALL COACH 40.00 0.00 X 387885 0 68683 DANNY TANG CHIEF INFO OFFICER (THRU 1/25) 40.00 0.00 X 222257 0 51825 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 40.00 0.00 X 209920 0 51396 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 40.00 0.00 X 760270 0 67410 5774270 0 991035 146 0 1 0 THE HARPER CORPORATION 35 WEST COURT STREET STE 400 GREENVILLE SC 29601 CONSTRUCTION 47351252 TRIANGLE CONSTRUCTION CO 2624 LAURENS RD GREENVILE SC 29607 CONSTRUCTION 17628571 COMPASS GROUP USA INC 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 11539737 BAIN & COMPANY INC 131 DARTMOUTH STREET BOSTON MA 02116 PROFESSIONAL CONSULTANCY 3000000 ESSENTIAL LIGHTING SOLUTIONS INC 8-A BROZZINI CT GREENVILLE SC 29615 LIGHTING SYSTEM/MAINTENANCE 2329838 60 34775 338610 4148316 33581055 5519076 38102756 TUITION AND FEES 611710 147827221 147827221 ROOM AND BOARD 611710 34920399 34920399 INTERCOLLEGIATE ATHLETICS 611710 4299344 4299344 OTHER AUXILIARY 611710 3674373 3674373 OTHER PRGRAM SERVICE 611710 3283585 3283585 194004922 16838897 -905134 17744031 1706252 1537973 168279 168279 395946 27335 -255002 363533464 81331 316033116 7835 47500348 73496 47573844 375443 47198401 101160 34775 51830 49330 49330 EMPLOYEE LEASE REVENUE 541900 112843 112843 112843 296850871 194400868 -502356 64849603 348854 348854 92624892 92624892 3804294 1387000 2111188 306106 64934674 55737805 6582164 2614705 5670965 4712796 717202 240967 13602887 10148566 3008046 446275 5258531 4370048 665041 223442 123777 123777 452831 452831 154650 154650 2332323 2332323 6891629 5341682 1428693 121254 1223006 571833 334463 316710 2862698 2526063 232068 104567 5830464 4312678 1192253 325533 1608141 34271 1573870 10594782 10233142 201931 159709 2926692 2279245 436715 210732 7326775 8489405 -1162630 17060854 15881906 1178948 OTHER EXPENSES 21322885 18180580 2974556 167749 MEAL PLAN EXPENSES 9807316 9807316 LIBRARY RESOURCES 1826069 1826069 UNIFORMS 998455 998455 465683 421063 44620 280054127 250233669 24582709 5237749 11018088 11659188 622895 640677 39651582 34445433 4917912 4523384 296850 305427 1824709 3354979 636398515 253075594 312056671 383322921 146484487 120399214 609913464 673154727 6148035 272881222 211593140 1399667880 1449547125 14278920 17728885 6538775 7373408 245872855 242008875 32906 32238 2596426 2564156 269319882 269707562 X 366512182 379016711 763835816 800822852 1130347998 1179839563 1399667880 1449547125 X 16796744 32733331 -38510 X X 0 1 X 1 1 1 X 83565475 45654957 28517280 43795238 37425536 238958486 83565475 45654957 28517280 43795238 37425536 238958486 80242166 158716320 24156439 6008540 18537555 14570669 17678431 80951634 51117 1145948 76525 1273590 117415 112843 230258 321413968 695207456 0.49380 0.52320 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: EMPLOYEE LEASE - 2023 AMOUNT: $ 117,415. 2024 AMOUNT: $ 112,843. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6 241475 401350 2854642 1 1 3749468 X X 0 0 1 X 827738616 12887068 84169949 17356546 19572276 2332323 885534488 787489549 10537688 68490492 17144041 19332643 2302429 827738616 812285408 12814106 2074962 17535644 19774237 2375046 787489549 838971213 10589857 -2461455 15279845 17230464 2303898 812285408 670014075 6299124 197145647 13733787 17925394 2828452 838971213 0.15604 0.63810 0.20586 1 1 1 37515534 37515534 504177787 175534108 328643679 79941510 70020851 9920659 14763684 7520635 7243049 383322921 PRIVATE CAPITAL 3600000 C REAL ESTATE 902658 C EQUITY SECURITIES 288426095 F FIXED INCOME 9856928 F HEDGED STRATEGIES 126640950 F PRIVATE CAPITAL 173622027 F PRIVATE CREDIT 8528201 F REAL ESTATE FUNDS 61577868 F 673154727 CSV LIFE INSURANCE 2248866 RIGHT OF USE ASSET 80731 EQUITY INTEREST IN HOLLINGSWORTH 182166144 FUNDS HELD IN TRUST FOR BOND ISSUED 20973030 FUNDS HELD IN TRUST BY OTHERS 6124369 211593140 ASSET RETIREMENT OBLIGATION 1447054 LEASE OBLIGATIONS 84408 SPLIT INTEREST AGREEMENTS 1032694 2564156 X 239784194 32733331 -89057488 -56324157 296108351 2332323 -1589803 742520 296850871 188591413 1589803 1589803 187001610 2332323 90720194 93052517 280054127 PART III, LINE 4: THE UNIVERSITY HAS A COLLECTION OF DECORATIVE AND FINE ARTS MATERIALS THAT IS BOTH EXTENSIVE AND DIVERSE. COMPRISED OF OVER 2,500 ITEMS, MANY PIECES ARE DISPLAYED THROUGHOUT CAMPUS, WHILE OTHERS ARE PRESERVED. THE OBJECTS HAVE BEEN GENEROUSLY DONATED TO FURMAN. THEY CONNECT THE UNIVERSITY TO THE WIDER WORLD AND ARE GATEWAYS TO STUDYING MANY DIFFERENT TIME PERIODS, CULTURES AND DISCIPLINES. THE COLLECTION'S MAIN PURPOSES ARE PRESERVATION OF THE OBJECTS FOR FUTURE GENERATIONS, EDUCATIONAL OPPORTUNITIES AND EXHIBITS. PART IV, LINE 2B: AGENCY FUNDS ARE HELD TO PROVIDE BANKING ABILITY FOR SMALL STUDENT CLUBS. THE UNIVERSITY ALSO PROVIDES BANKING FOR PROFESSIONAL ORGANIZATIONS THAT ARE INDIRECTLY RELATED TO THE UNIVERSITY. EXAMPLE: SACUBO PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF MORE THAN 1,000 SEPARATE FUNDS ESTABLISHED OVER MANY YEARS FOR SCHOLARSHIPS, PROFESSORSHIPS, LECTURESHIPS, ACADEMIC PROGRAMS AND AWARDS, BUILDING MAINTENANCE, AND GENERAL INSTITUTIONAL SUPPORT. THE OVERALL FINANCIAL OBJECTIVE OF THE ENDOWMENT IS TO PRESERVE AND ENHANCE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER OF THE FUND IN PERPETUITY. THE BOARD OF TRUSTEES DESIGNATES ONLY A PORTION OF THE UNIVERSITY'S CUMULATIVE INVESTMENT RETURN FOR SUPPORT OF CURRENT OPERATIONS; THE REMAINDER IS RETAINED TO SUPPORT OPERATIONS OF FUTURE YEARS AND TO OFFSET POTENTIAL MARKET DECLINES. THE UNIVERSITY EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO MAINTAIN ITS PURCHASING POWER BY GROWING AT A RATE EQUAL TO OR GREATER THAN PLANNED PAYOUTS. ADDITIONAL REAL GROWTH WILL BE PROVIDED THROUGH NEW GIFTS AND ANY EXCESS INVESTMENT RETURNS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). HOWEVER, CERTAIN INCOME UNRELATED TO ITS EXEMPT FUNCTION IS SUBJECT TO INCOME TAXATION. THE UNIVERSITYS POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE UNIVERSITY, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2025 AND 2024, AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION NET INCOME INCLUDED IN CONSOLIDATED REVENUE 1,082,315. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 369,353. CHANGE IN CSV LIFE INSURANCE 128,963. OTHER 140,394. FINANCIAL AID NET WITH REVENUE -90,720,194. FOUNDATION UNREALIZED LOSS -58,319. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -51,830. RENTAL EXPENSES -1,537,973. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,537,973. FUNDRAISING EXPENSES 51,830. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NET WITH REVENUE 90,720,194. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S NONDISCRIMINATION POLICY STATEMENT IS ACCESSIBLE ON ALL PAGES OF THE UNIVERSITY'S WEBSITE FOR PROSPECTIVE STUDENTS, EMPLOYMENT APPLICANTS AND THE GENERAL PUBLIC. ADDITIONALLY, THE NONDISCRIMINATION POLICY STATEMENT IS INCLUDED IN ALL BROCHURES, CATALOGS, NEWSPAPER ADVERTISEMENTS AND OTHER WRITTEN COMMUNICATION WITH THE PUBLIC RELATED TO STUDENT ADMISSIONS, PROGRAM AND SCHOLARSHIPS, AS WELL AS EMPLOYMENT. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY PARTICIPATES IN THE FEDERAL PELL GRANT PROGRAM, THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS PROGRAM, AND THE FEDERAL COLLEGE WORK STUDY PROGRAM. ADDITIONALLY, THE UNIVERSITY HAS RECEIVED A NUMBER OF GRANTS FROM THE NATIONAL SCIENCE FOUNDATION, THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SCIENCES, AND THE DEPARTMENT OF DEFENSE. 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 207412900 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 4778949 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 73897703 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 616931 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 3516251 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 562 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 84294 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 246367 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES INTERNATIONAL RECRUITING 956 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES INTERNATIONAL RECRUITING 21980 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INTERNATIONAL RECRUITING 10990 NORTH AMERICA 0 0 PROGRAM SERVICES INTERNATIONAL RECRUITING 5256 SOUTH AMERICA 0 0 PROGRAM SERVICES INTERNATIONAL RECRUITING 8601 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INTERNATIONAL WIRES 863817 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES INTERNATIONAL WIRES 40038 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES INTERNALTIONAL WIRES 64360 SOUTH AMERICA 0 0 PROGRAM SERVICES INTERNALTIONAL WIRES 2055 0 0 0 0 0 0 290553957 1018053 291572010 1 0 0 0 1 0 PART I, LINE 2: FURMAN UNIVERSITY IS NOT A GRANTMAKER AS REFERENCED IN LINE 1. FURMAN UNIVERSITY PROVIDES FUNDING TO FACULTY AND STUDENTS FOR RESEARCH AND OTHER PROJECTS. EXPENSES MUST BE SUBSTANTIATED UNDER THE ACCOUNTABLE PLAN TO ENSURE PROPER USE OF FUNDS. PART I, LINE 3: EXPENDITURES ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE VALUE OF INVESTMENTS IS BASED ON THE FMV AT THE END OF THE FISCAL YEAR. VINCE PERONE CLASSIC 84217 33375 50842 2527 4830 3964 8124 PLADIN CLASSIC 50318 1400 48918 343 6864 25178 134535 34775 99760 2870 11694 29142 8124 51830 47930 1 UPSTATE SC ALLIANCE INC 3 RESEARCH DRIVE SUITE 230 GREENVILLE SC 29607 571095229 501(C)(6) 11000 0 0 N/A SPONSORSHIP FALL FOR GREENVILLE 206 S MAIN STREET GREENVILLE SC 29601 570876594 501(C)(3) 7500 0 0 N/A SPONSORSHIP GREENVILLE ARTS FESTIVAL 101B AUGUST STREET GREENVILLE SC 29601 582676608 501(C)(3) 10000 0 0 N/A SPONSORSHIP OUR UPSTATE SC 150 EXECUTIVE CENTER DRIVE SUITE 202 GREENVILLE SC 29615 451842000 501(C)(3) 10000 0 0 N/A SPONSORSHIP EMPIRE MOCK TRIAL ASSOCIATION INC 655 15TH STREET NW SUITE 800 WASHINGTON DC 20005 260150254 501(C)(3) 15000 0 0 N/A SPONSORSHIP THE GREENVILLE DRIVE LLC 945 S MAIN STREET GREENVILLE SC 29601 043672609 60000 0 0 N/A SPONSORSHIP GREENVILLE ARENA DISTRICT 650 NORTH ACADEMY STREET GREENVILLE SC 29601 576007739 CITY OF GREENVILLE 78000 0 0 N/A SPONSORSHIP UPCOUNTRY HISTORY MUSEUM 340 BUNCOMBE STREET GREENVILLE SC 29601 570833796 501(C)(3) 50000 0 0 N/A OPERATING SUPPORT GREATER GREENVILLE CHAMBER OF COMMERCE 24 CLEVELAND ST GREENVILLE SC 29601 570173240 501(C)(6) 35350 0 0 N/A SPONSORSHIP PRISMA HEALTH - UPSTATE PO BOX 748580 ATLANTA GA 30374 811723202 501(C)(3) 13397 0 0 N/A SPONSORSHIP CITY OF GREENVILLE SC PO BOX 2207 GREENVILLE SC 29602 576000236 CITY OF GREENVILLE 10000 0 0 N/A SPONSORSHIP UNITED MINISTRIES INC 606 PENDLETON ST GREENVILLE SC 29601 570511977 501(C)(3) 6650 0 0 N/A SPONSORSHIP 10 3 ATHLETIC SCHOLARSHIPS 282 13520282 N/A N/A UNDERGRADUATE SCHOLARSHIPS 2109 76483260 N/A N/A GRADUATE SCHOLARSHIPS 37 716652 N/A N/A RESEARCH, INTERNSHIPS, & FELLOWSHIP STIPENDS 582 1879698 N/A N/A GRADUATE STIPENDS 5 25000 N/A N/A PART I, LINE 2: FURMAN PROVIDES SCHOLARSHIPS AND FINANCIAL AID TO INDIVIDUALS IN THE UNITED STATES TO ATTEND THE UNIVERSITY. THE SCHOLARSHIPS AND AID FOR SUCH STUDENTS ARE AWARDED BASED ON NEED AND MERIT AND COVER THE COSTS OF TUITION, AND ROOM AND BOARD. THE SCHOLARSHIPS AND/OR FINANCIAL AID ARE AWARDED BASED ON INSTITUTIONAL POLICY AND STANDARDS SET FORTH BY THE DEPARTMENT OF EDUCATION AND THE STATE OF SOUTH CAROLINA. THE UNIVERSITY'S FINANCIAL AID DEPARTMENT MONITORS THE COMPLIANCE WITH SUCH REGULATIONS. THE SCHOLARSHIP AND/OR FINANCIAL AID IS APPLIED BY THE FINANCIAL AID DEPARTMENT DIRECTLY AGAINST THE STUDENT'S ACCOUNT WITH THE UNIVERSITY AS A REDUCTION IN FEES. AS SUCH, THE GRANT CAN ONLY BE USED FOR ITS INTENDED PURPOSE (I.E. COST OF ATTENDANCE) AND CANNOT BE DIVERTED FROM THIS USE. OTHER TYPES OF GRANTS PROVIDED CONSIST OF RESEARCH, INTERNSHIPS, OR FELLOWSHIP GRANTS TO STUDENTS. SUCH GRANTS ARE GIVEN AND MONITORED BY THE ACADEMIC DEPARTMENT GIVING THE GRANT OR THE UNDERGRADUATE RESEARCH AND INTERNSHIP DEPARTMENT. SPONSORSHIPS PAID TO ORGANIZATIONS ARE MADE UNDER WRITTEN AGREEMENTS BETWEEN THE PARTIES AND SUPPORT COMMUNITY EVENTS AND PROVIDE A PRESENCE FOR FURMAN IN THE AREA. COMMUNITY ENGAGEMENT IS A SIGNIFICANT ASPECT OF THE FURMAN ADVANTAGE. THESE SPONSORSHIPS WITH GREENVILLE BUSINESSES THEREFORE SERVE TO ADVANCE THE FURMAN ADVANTAGE FOR OUR STUDENTS AND THE COMMUNITY. X X X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 551588 0 207500 0 1182 0 37950 0 29460 0 827680 0 0 0 DR ELIZABETH DAVIS PRESIDENT 609599 0 0 0 24176 0 37950 0 31248 0 702973 0 0 0 SUSAN MADDUX VP FOR FIN & ADMIN 386705 0 0 0 28946 0 37950 0 9814 0 463415 0 0 0 CLAYTON HENDRIX HEAD FOOTBALL COACH 305403 0 75000 0 7482 0 34337 0 34346 0 456568 0 0 0 ROBERT KENNEY CHIEF INVESTMENT OFFICER 257399 0 58300 0 2144 0 35855 0 32646 0 386344 0 0 0 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 277773 0 28500 0 8766 0 31900 0 37293 0 384232 0 0 0 BETH PONTARI VP FOR ACAD AFFAIRS & PROVOST 299917 0 0 0 3576 0 33939 0 26273 0 363705 0 0 0 THOMAS EVELYN II VP FOR UNI COMM (THRU 3/25) 270382 0 0 0 33249 0 34320 0 20437 0 358388 0 0 0 CONNIE L CARSON VP FOR STUDENT LIFE 297459 0 0 0 1176 0 32747 0 10410 0 341792 0 0 0 HEIDI MCCRORY VP FOR DEV (THRU 10/24) 238658 0 0 0 3480 0 25282 0 20496 0 287916 0 0 0 DANNY TANG CHIEF INFO OFFICER (THRU 1/25) 212898 0 0 0 9359 0 25616 0 26209 0 274082 0 0 0 EMILY SCHUCK VP OF ENROLLMENT MANAGEMENT 211864 0 0 0 1102 0 24750 0 33013 0 270729 0 0 0 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 188346 0 12502 0 9072 0 22929 0 28467 0 261316 0 0 0 AUSTIN JOHNK DIRECTOR OF INVESTMENTS 171611 0 35613 0 3052 0 11211 0 36143 0 257630 0 0 0 MEREDITH E GREEN GENERAL COUNSEL 182424 0 0 0 13005 0 14864 0 33309 0 243602 0 0 0 JEREMY CASS DEAN OF FACULTY 184310 0 0 0 24019 0 22880 0 625 0 231834 0 0 0 JEFF REDDERSON AVP FOR FACILITIES SERVICES 153700 0 0 0 27099 0 20865 0 21771 0 223435 0 0 0 SHON HERRICK VP FOR DEV (FROM 11/24) 164000 0 0 0 4097 0 20122 0 32581 0 220800 0 0 0 ELIZABETH SEMAN CHIEF OF STAFF 186536 0 0 0 1301 0 20592 0 435 0 208864 0 0 0 PART I, LINE 1A A COMPANION HAS TRAVELED WITH BOTH THE PRESIDENT, ELIZABETH DAVIS, AND THE MEN'S BASKETBALL COACH, BOB RICHEY. TO THE EXTENT THE TRAVEL WAS PERSONAL IN NATURE SUCH AMOUNTS WERE INCLUDED IN TAXABLE INCOME. THE PRESIDENT OF THE UNIVERSITY AND HER FAMILY RESIDE AT WHITE OAKS WHICH IS THE OFFICIAL RESIDENCE OF THE PRESIDENT. THE PRESIDENT IS REQUIRED TO LIVE AT WHITE OAKS AS A CONDITION OF HER EMPLOYMENT. THE RESIDENCE IS OWNED AND MAINTAINED BY THE UNIVERSITY. CLEANING, MAINTENANCE, AND, GROUNDSKEEPING SERVICES ARE PROVIDED BY THE UNIVERSITY FOR THE PUBLIC AREAS OF THE RESIDENCE ONLY. THE PRESIDENT HOSTS UNIVERSITY EVENTS AT WHITE OAKS AS WELL. THE FMV OF THIS BENEFIT WAS NOT INCLUDED IN TAXABLE WAGES. ELIZABETH DAVIS AND JASON DONNELLY WERE PROVIDED WITH A CLUB MEMBERSHIP. TO THE EXTENT THE DUES WERE CONSIDERED PERSONAL, THE AMOUNTS WERE INCLUDED IN TAXABLE INCOME OR REIMBURSED TO THE UNIVERSITY. OTHERWISE, THE DUES ALLOW THE PRESIDENT TO MEET WITH DONORS AND OTHER SUPPORTERS OF THE UNIVERSITY AT THE CLUB. FURMAN POLICY GOVERNS THE NATURE AND TYPE OF ALLOWABLE EXPENDITURES AND PAYMENTS, INCLUDING REQUIREMENTS TO PROVIDE SUPPORTING DOCUMENTATION DETAILING THE TRANSACTION AND BUSINESS PURPOSE OF ANY APPROVED EXPENDITURE. PART I, LINE 4B NAME: ROBERT KENNEY, DESCRIPTION: $6,413 WAS CONTRIBUTED TO EMPLOYEE'S 457(F) SUPPLEMENTAL RETIREMENT PLAN. PART I, LINE 7: THE BONUSES RECEIVED BY CERTAIN OFFICERS, KEY EMPLOYEES, OR HIGHLY COMPENSATED EMPLOYEES WERE PAYMENTS FOR MERIT AND NOT CONTINGENT ON THE REVENUE OR NET EARNINGS OF THE UNIVERSITY OR RELATED ORGANIZATION. A SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 8373031UL 2015-08-13 68432003 REFUNDING AND CAPITAL 0 0 0 B SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2021-09-22 35830000 REFUNDING OF 2006B AND 2010 BOND ISSUES 0 0 0 C SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031D42 2022-01-26 76277862 CAPITAL 0 0 0 D SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 83704MED4 2024-05-08 79042503 CAPITAL 0 0 0 A 6015000 68432003 659117 25001055 42771831 2017 1 0 1 1 B 5220000 35830000 219844 35610156 2012 1 1 1 1 C 76297393 6766642 588703 75689159 2024 0 0 0 1 D 79042503 632395 57437368 20972740 2026 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2018 ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/26/2024 SCHEDULE K, PART II, LINE 3, COL C AND COL D: THE AMOUNT SHOWN AS TOTAL PROCEEDS OF ISSUE IN PART II IS HIGHER THAN THE AMOUNT IN PART I DUE TO INVESTMENT EARNINGS ON UNSPENT FUNDS. NA DEPENDENT OF TRUSTEE 60000 DISCOUNTED TUITION EDUCATION X 1 18511 COST X 114 5479870 FMV X 2 801 APPRAISED VALUE X DEVELOPMENT CAMPAIGN EVENTS 2 14350 COST X POOL TABLE 1 3770 FMV X COMPOUND TELESCOPE 1 1500 FMV X OTHER-LIFEGUARD FOR OLLI ACQUATIC 1 274 COST 0 0 1 0 PART I, COLUMN (B): FURMAN UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED OF EACH TYPE IN ACCORDANCE WITH THE UNIVERSITY'S RECORDKEEPING PRACTICES. FORM 990, PART VI, SECTION A, LINE 1A THERE SHALL BE AN EXECUTIVE COMMITTEE, OF WHICH THE MEMBERS SHALL BE THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD (WHO SHALL SERVE AS THE CHAIR OF THE EXECUTIVE COMMITTEE), THE RESPECTIVE CHAIRS OF THE OTHER STANDING COMMITTEES, UP TO THREE (3) "AT LARGE" TRUSTEES, AND THE PRESIDENT OF THE UNIVERSITY (WITH THE LATTER BEING AN EX OFFICIO, NON-VOTING MEMBER). THE SPECIFIC NUMBER OF "AT LARGE" TRUSTEES TO BE APPOINTED AS MEMBERS OF THE EXECUTIVE COMMITTEE FOR A PARTICULAR FISCAL YEAR SHALL BE DETERMINED ANNUALLY BY THE BOARD (ACTING WITH DUE CONSIDERATION OF ANY RECOMMENDATION THEREON FROM THE COMMITTEE ON TRUSTEESHIP) AT A MEETING HELD PRIOR TO THE BEGINNING OF SUCH FISCAL YEAR. DURING THE INTERIM BETWEEN MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO MAKE DECISIONS AND TAKE ACTIONS ON BEHALF OF THE BOARD, AND TO DO ALL ACTS AND PERFORM ALL DUTIES AND SERVICES NECESSARY TO THE OPERATION OF THE UNIVERSITY; PROVIDED THAT THE EXECUTIVE COMMITTEE (I) SHALL REPORT ALL SUCH ACTIONS TO THE BOARD, AT THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD, FOR THE BOARD'S REVIEW, CRITICISM AND ADVICE, AND WHEN AND IF NECESSARY OR PRUDENT, FOR THE BOARD'S RATIFICATION; (II) MAY NOT ELECT, APPOINT OR REMOVE TRUSTEES OR FILL VACANCIES ON THE BOARD OR ON ANY BOARD COMMITTEE (UNLESS THE LATTER IS PERMITTED PURSUANT TO SECTION 1(E)); (III) MAY NOT APPROVE OR DEFINITIVELY RECOMMEND THE DISSOLUTION OF THE UNIVERSITY OR THE SALE, PLEDGE OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE UNIVERSITY'S ASSETS; (IV) MAY NOT AUTHORIZE DISTRIBUTIONS; AND (V) MAY NOT ADOPT, AMEND OR REPEAL THE UNIVERSITY'S ARTICLES OF INCORPORATION OR THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE UNIVERSITY'S AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PREPARED FORM 990 PRIOR TO FILING WITH THE IRS. SPECIFIC ISSUES AND/OR QUESTIONS THAT AROSE DURING THE REVIEW PROCESS ARE ADDRESSED. THE PUBLIC DISCLOSURE COPY OF FORM 990 IS THEN PROVIDED TO THE REMAINING VOTING MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY FOR THE BOARD OF TRUSTEES IS INCLUDED IN SECTION 9 OF THE FURMAN UNIVERSITY BY-LAWS. EACH MEMBER OF THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM AT THE FIRST MEETING OF EACH ACADEMIC YEAR. EACH TRUSTEE SHALL DISCLOSE TO THE BOARD CHAIR ANY ADDITIONAL POTENTIAL CONFLICTS OF INTEREST AT THE EARLIEST PRACTICAL TIME. ADDITIONALLY, THE UNIVERSITY HAS A CONFLICT OF INTEREST POLICY FOR EMPLOYEES WITH EXECUTIVE OR ADMINISTRATIVE RESPONSIBILITIES AS THE UNIVERSITY RECOGNIZES THAT SUCH EMPLOYEES HAVE A DUTY OF LOYALTY AND FIDELITY IN CARRYING OUT THEIR RESPONSIBILITIES. THIS POLICY APPLIES TO THOSE EMPLOYEES DESIGNATED BY THE PRESIDENT AS HAVING EXECUTIVE OR ADMINISTRATIVE RESPONSIBILITIES. EACH SUCH EMPLOYEE IS REQUIRED, AT LEAST ANNUALLY, TO COMPLETE THE QUESTIONNAIRE. THIS QUESTIONNAIRE REQUIRES DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST AND IS ADMINISTERED BY THE HUMAN RESOURCES DEPARTMENT. NO TRUSTEE SHALL VOTE ON ANY MATTER IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST; AND THE CHAIR SHALL REPORT TO THE BOARD THAT THE TRUSTEE HAS REPORTED THE CONFLICT OF INTEREST PRIOR TO TAKING A VOTE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT IS DETERMINED AND APPROVED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE PRESIDENT'S EMPLOYMENT IS GUIDED BY A WRITTEN EMPLOYMENT CONTRACT SIGNED BY BOTH PARTIES. EXECUTIVE COMMITTEE MEETINGS ARE DOCUMENTED. FOR OTHER OFFICERS OF THE UNIVERSITY, A COMPENSATION COMPARABILITY STUDY IS DONE DURING THE SEARCH PROCESS. SUBSEQUENT YEARS' SALARY INCREASES ARE BASED ON THE UNIVERSITY'S STANDARD COMPENSATION ADJUSTMENT POOL FOR THE FISCAL YEAR AS APPROVED BY THE BOARD OF TRUSTEES DURING THE ANNUAL BUDGET PROCESS. THE DELIBERATION AND DECISION IS DOCUMENTED IN THE BOARD MINUTES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 FURMAN UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. ADDITIONALLY, THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS CAN BE FOUND ON THE FURMAN WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 369,353. CHANGE IN CSV LIFE INSURANCE 128,963. OTHER 140,394. ELIMINATING ENTRIES -338,610. PRIOR PERIOD GRANT ADJUSTMENT -338,610. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. FURMAN UNIVERSITY FOUNDATION 3300 POINSETT HIGHWAY GREENVILLE SC 29613 571061363 FOUNDATION SC 501(C)(3) LINE 12C, III-FI N/A 0 HOLLINGSWORTH FUNDS INC 124 VERDAE BOULEVARD GREENVILLE SC 29607 571003814 CHARITABLE SC 501(C)(3) LINE 12A, I N/A 0 CHARITABLE REMAINDER UNITRUSTS (4) SPLIT INTEREST SC T 0 CHARITABLE REMAINDER ANNUITY TRUST SPLIT INTEREST SC T 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 FURMAN UNIVERSITY FOUNDATION B 338610 AMOUNT PAID SCHEDULE R, PART II HOLLINGSWORTH FUNDS, INC. IS A TAX-EXEMPT SUPPORTING ORGANIZATION UNDER SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE WHOSE PURPOSE IS TO SUPPORT FURMAN UNIVERSITY AND OTHER GREENVILLE, SOUTH CAROLINA BASED CHARITIES. FOR THE YEAR ENDED JUNE 30, 2024, INCOME DISTRIBUTION FROM THE HOLLINGSWORTH FUNDS, WHICH ARE REPORTED AS INVESTMENT RETURNS, WAS $5,181,139 AND PROVIDED FUNDING FOR THE HOLLINSWORTH SCHOLARS PROGRAM, TWO ENDOWED PROFESSORSHIPS IN THE DEPARTMENTS OF ECONOMICS AND BUSINESS AND ACCOUNTING, AND SPECIFIC NEEDS OF THOSE TWO DEPARTMENTS. FURMAN UNIVERSITY FOUNDATION OPERATES AS A NON PROFIT PUBLIC BENEFIT CORPORATION TO SERVE THE NEEDS AND INTEREST OF FURMAN UNIVERSITY.