THE MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- THE MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION (EIN 57-6028985)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-03-22
- IRS object ID
- 202410829349300801
- Schema version
- 2022v5.0
- 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 F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-03-22T13:35:32-05:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 570381582 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELLIOTT DAVIS LLCPLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 EAST MOREHEAD STREET SUITE 700 | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 576028985 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEDICAL UNIVERSITY OF SOUTH CAROLINA | BusinessNameLine1Txt |
| Business Name Line2 | FOUNDATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MEDI | BusinessNameControlTxt |
| Phone | 8437921315 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 18 BEE STREET | AddressLine1Txt |
| City | CHARLESTON | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29425 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MATTHEW MUSE | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 8437926407 | PhoneNum |
| Signature | 2024-03-22 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MATTHEW | PersonFirstNm |
| Person Last | MUSE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JANICE A RATICA | PreparerPersonNm |
| PTIN | P00358837 | PTIN |
| Phone | 7043338881 | PhoneNum |
| Preparation | 2024-03-22 | 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 | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STUART AMES | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 18 BEE STREET | AddressLine1Txt |
| City | CHARLESTON | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29425 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $490,617,690 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MUSC.EDU/FOUNDATION | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1966 | FormationYr |
| Legal Domicile State | SC | LegalDomicileStateCd |
| Activity Or Mission | THE MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION (THE "FOUNDATION") WAS INCORPORATED IN JULY 1966 UNDER THE LAWS OF SOUTH CAROLINA AS AN EDUCATIONAL, CHARITABLE, ELEEMOSYNARY FOUNDATION TO PROMOTE EDUCATIONAL, RESEARCH, CLINICAL, AND OTHER FACILITIES AND PROGRAMS OF THE MEDICAL UNIVERSITY OF SOUTH CAROLINA ("MUSC"). IN 2005, THE FOUNDATION EXPANDED ITS PURPOSE BY AMENDING ITS BYLAWS TO PROMOTE THE SAME TYPES OF PROGRAMS THROUGH THE MEDICAL UNIVERSITY HOSPITAL AUTHORITY ("MUHA"), A COMPONENT UNIT OF MUSC. IF THE FOUNDATION IS DISSOLVED, ITS ASSETS SHALL BE TRANSFERRED TO MUSC AND USED BY MUSC IN ITS ACTIVITIES. THEREFORE, THE FOUNDATION MEETS THE DEFINITION ESTABLISHED BY THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD AS A COMPONENT UNIT OF MUSC. MUSC IS REQUIRED TO INCLUDE FINANCIAL INFORMATION OF THE FOUNDATION IN ITS REPORTING. | ActivityOrMissionDesc |
| Voting Members Governing Body | 30 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 30 | VotingMembersIndependentCnt |
| Total Employee | 1 | TotalEmployeeCnt |
| Total Volunteers | 200 | TotalVolunteersCnt |
| Total Gross UBI | $3,777,356 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $371,804 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $55,439,177 | PYContributionsGrantsAmt |
| CY Contributions Grants | $39,849,315 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $8,873,843 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $6,723,606 | CYProgramServiceRevenueAmt |
| PY Investment Income | $37,725,537 | PYInvestmentIncomeAmt |
| CY Investment Income | $34,221,323 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$386,566 | PYOtherRevenueAmt |
| CY Other Revenue | -$204,981 | CYOtherRevenueAmt |
| PY Total Revenue | $101,651,991 | PYTotalRevenueAmt |
| CY Total Revenue | $80,589,263 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $40,117,108 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $46,494,916 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $2,270,114 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,858,757 | PYOtherExpensesAmt |
| CY Other Expenses | $9,764,384 | CYOtherExpensesAmt |
| PY Total Expenses | $46,975,865 | PYTotalExpensesAmt |
| CY Total Expenses | $56,259,300 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $54,676,126 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $24,329,963 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $730,105,616 | TotalAssetsBOYAmt |
| Total Assets EOY | $755,133,409 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $195,973,103 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $193,866,543 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $534,132,513 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $561,266,866 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION IS AN EDUCATIONAL, CHARITABLE, ELEEMOSYNARY FOUNDATION ORGANIZED TO PROMOTE THE EDUCATIONAL, RESEARCH, CLINICAL AND OTHER FACILITIES AND PROGRAMS OF THE MEDICAL UNIVERSITY OF SOUTH CAROLINA AND THE MEDICAL UNIVERSITY OF SOUTH CAROLINA HOSPITAL AUTHORITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $44,338,310 | ExpenseAmt |
| Grant | $43,919,636 | GrantAmt |
| Revenue | $875,987 | RevenueAmt |
| Desc | GIFTS AND GRANTS TO THE MEDICAL UNIVERSITY OF SOUTH CAROLINA AND THE MEDICAL UNIVERSITY OF SOUTH CAROLINA HOSPITAL AUTHORITY TO PROMOTE EDUCATION, RESEARCH, AND COMPREHENSIVE HEALTH CARE. SUPPORTED AREAS OF NOTE FOR FY 2023 INCLUDE SCIENTIFIC DISCOVERY SUPPORT FOR EHLERS DANLOS SYNDROME, STRUCTURAL HEART PROGRAM INITIATIVES AND ACTIVITIES, HOLLINGS CANCER CENTER PHASE I CLINICAL TRIALS CLINIC AND PROGRAMS, TRANSPLANT RESEARCH INSTITUTE ADVANCEMENTS, EQUIPMENT TO SERVE HEAD AND NECK CANCER CENTER. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,575,280 | ExpenseAmt |
| Grant | $2,575,280 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | STUDENT SCHOLARSHIPS - THE MUSC ENTERPRISE IS FOCUSED ON THE AFFORDABILITY OF MEDICAL EDUCATION THROUGH SCHOLARSHIP OPPORTUNITIES FOR STUDENTS. TO THIS EFFORT, THE FOUNDATION HAS PARTNERED WITH MUSC TO INCREASE ITS SUPPORT OF SCHOLARSHIPS NOW AND IN THE FUTURE. SIGNIFICANT SCHOLARSHIP SUPPORT WAS AWARDED ACROSS ALL 6 COLLEGES THAT ENABLED STUDENTS TO BEGIN OR CONTINUE THEIR GOALS IN MEDICAL EDUCATION. THE RESOURCES PROVIDED BY THE FOUNDATION WERE COMBINED WITH OTHER RESOURCES OF MUSC TO CREATE AN EVER GROWING BASE OF AWARDED DOLLARS TO THESE STUDENTS. IN FY 2023, 38 NEW SCHOLARSHIP FUNDS WERE ESTABLISHED. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,291,443 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $5,847,619 | RevenueAmt |
| Desc | FACILITIES - THE FOUNDATION CONTINUES TO SUPPORT THE MAINTENANCE AND CREATION OF STUDENT AND FACULTY FACILITIES AT THE MEDICAL UNIVERSITY OF SOUTH CAROLINA. THE FOUNDATION WORKS STRATEGICALLY WITH THE MUSC ENTERPRISE TO PROVIDE AND SUPPORT STATE OF THE ART FACILITIES FOR THE PURPOSES OF CLINICAL CARE, RESEARCH, AND EDUCATION. THESE FACILITIES ARE INTEGRAL TO THE SUCCESS OF MUSC BEING RECOGNIZED AS A NATIONAL LEADER IN MANY DISCIPLINES AND FOR ITS CONTINUED NATIONAL GROWTH IN OTHER FOCUSED CLINCIAL, ACADEMIC AND RESEARCH AREAS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $49,205,033 | 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 | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | 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 | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | Yes (1) | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 74 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 1 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| 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 | 30 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 30 | 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 | Yes (1) | 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 | Yes (1) | 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 | SC | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MATTHEW MUSE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8437926407 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 18 BEE STREET | AddressLine1Txt |
| City | CHARLESTON | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29425 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (33 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| MR RICHARD ALMEIDA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR JAMES ALLHUSEN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR OMAR RAMBERAN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR JAMES BATTLE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR LANE BALLARD | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DR BRINDA CHOKSHI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DR DEBORAH DAVIS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DR RICK DHILLON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR JOHN DOWNING | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR GEORGE GEPHART JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR THOMAS FLANAGAN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| COL MIKE HEATH | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DR HAROLD JABLON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR MICHAEL MISHA JOUKOWSKY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR BOB KEANE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DR JAMES LEMON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR JOHN CAHILL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR THOMAS TOM MOTAMED | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MS SUSAN PEARLSTINE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR W THOMAS PARRINGTON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR MIGUEL THAMES | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MS AUDREY WHETSELL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR CHARLES SCHULZE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR JIM NEWSOME | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MS LISA MONTGOMERY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MS CARRIE LANNING | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MR CHARLES WENDELL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MS ANN WROBLESKI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MS JAN CHILDRESS MCCRARY | ||||||
| VICE CHAIR | 4.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| MR JAMES JIM MACLEOD | ||||||
| CHAIR | 4.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| STUART AMES | ||||||
| CHIEF EXECUTIVE OFFICER | 40.00 | $0 | $557,893 | $6,983 | Yes (X) | |
| ROBYN FRAMPTON | ||||||
| COO/EXECUTIVE VICE PRESIDENT | 40.00 | $0 | $212,340 | $3,935 | Yes (X) | |
| MATTHEW MUSE | ||||||
| CHIEF FINANCIAL OFFICER | 40.00 | $0 | $103,134 | $2,430 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $873,367 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $13,348 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRAYSON LAW FIRM LLC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1036 LANSING DRSTE 101 | AddressLine1Txt |
| City | MOUNT PLEASANT | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29464 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | LEGAL | ServicesDesc |
| Compensation | $108,117 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $3,257,174 | FundraisingAmt |
| All Other Contributions | $36,592,141 | AllOtherContributionsAmt |
| Noncash Contributions | $10,029,225 | NoncashContributionsAmt |
| Total Contributions | $39,849,315 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| RENTAL INCOME | 531110 | $5,847,619 | $5,806,698 | $40,921 |
| MUHA/MUSC PHYSICIANS/OTHER CLINIC | 611710 | $875,987 | $875,987 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $6,723,606 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,401,148 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $1,051,987 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,349,161 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $435,073,424 | SecuritiesAmt |
| Other | $159,153 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $408,282,402 | SecuritiesAmt |
| Other | $130,000 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,791,022 | SecuritiesAmt |
| Other | $29,153 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $26,820,175 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $29,153 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $2,684,448 | UnrelatedBusinessRevenueAmt |
| Exclusion | $24,106,574 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $1,411,044 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $3,257,174 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $1,616,025 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$204,981 | TotalRevenueColumnAmt |
| Exclusion | -$204,981 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $80,589,263 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,711,838 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $3,777,356 | UnrelatedBusinessRevenueAmt |
| Exclusion | $30,250,754 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,494,916 | TotalAmt |
| Program Services | $46,494,916 | ProgramServicesAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,036,740 | TotalAmt |
| Management And General | $1,036,740 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,799,249 | TotalAmt |
| Program Services | $558,296 | ProgramServicesAmt |
| Management And General | $2,141,962 | ManagementAndGeneralAmt |
| Fundraising | $98,991 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $160,569 | TotalAmt |
| Management And General | $160,569 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,429 | TotalAmt |
| Management And General | $30,429 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,497,151 | TotalAmt |
| Program Services | $1,214,929 | ProgramServicesAmt |
| Management And General | $1,282,222 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $951,577 | TotalAmt |
| Program Services | $936,892 | ProgramServicesAmt |
| Management And General | $14,685 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | FundraisingFundraisingAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| DEVELOPMENT COST | $1,994,543 | $1,994,543 | |
| DONATED GOODS | $176,580 | $176,580 | |
| MISCELLANEOUS | $117,546 | $117,546 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,259,300 | TotalAmt |
| Program Services | $49,205,033 | ProgramServicesAmt |
| Management And General | $4,784,153 | ManagementAndGeneralAmt |
| Fundraising | $2,270,114 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,852,964 | BOYAmt |
| EOY | $10,376,079 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,024,384 | BOYAmt |
| EOY | $18,845,505 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,092 | BOYAmt |
| EOY | $100,000 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $97,955,016 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $20,174,466 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $78,379,960 | BOYAmt |
| EOY | $77,780,550 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $254,613,021 | BOYAmt |
| EOY | $286,174,942 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $348,438,387 | BOYAmt |
| EOY | $353,096,550 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,634,808 | BOYAmt |
| EOY | $8,759,783 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $730,105,616 | BOYAmt |
| EOY | $755,133,409 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,378,696 | BOYAmt |
| EOY | $21,509,122 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,071,393 | BOYAmt |
| EOY | $1,332,221 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,561,205 | BOYAmt |
| EOY | $54,784,926 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,009,462 | BOYAmt |
| EOY | $95,378,552 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,952,347 | BOYAmt |
| EOY | $20,861,722 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $195,973,103 | BOYAmt |
| EOY | $193,866,543 | 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 | $91,413,777 | BOYAmt |
| EOY | $100,869,980 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $442,718,736 | BOYAmt |
| EOY | $460,396,886 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $534,132,513 | BOYAmt |
| EOY | $561,266,866 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $730,105,616 | BOYAmt |
| EOY | $755,133,409 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $24,329,963 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $3,165,117 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$360,727 | 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 | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $19,180,297 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $25,290,923 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $24,681,368 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $55,439,177 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $39,849,315 | CurrentTaxYearAmt |
| Total | $164,441,080 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $19,180,297 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $25,290,923 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $24,681,368 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $55,439,177 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $39,849,315 | CurrentTaxYearAmt |
| Total | $164,441,080 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $1,108,567 | SubstantialContributorsTotAmt |
| Public Support Total170 | $163,332,513 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $8,081,715 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $7,435,516 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,421,159 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,791,040 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,401,148 | CurrentTaxYearAmt |
| Total | $30,130,578 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $194,571,658 | TotalSupportAmt |
| Public Support CY170 | 0.83940 | PublicSupportCY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, SECTION C, LINE 15: | FormAndLineReferenceDesc |
| Explanation | THE FOUNDATION WAS REDETERMINED TO BE A IRC SECTION 509(A)(1)/SECTION 170(B)(1)(A)(VI) PUBLIC CHARITY EFFECTIVE FOR THE FISCAL-YEAR ENDED JUNE 30, 2023. | ExplanationTxt |
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 | $432,267,715 | BeginningYearBalanceAmt |
| Contributions | $16,682,657 | ContributionsAmt |
| Investment Earnings Or Losses | $30,163,957 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $5,609,899 | OtherExpendituresAmt |
| End Year Balance | $473,504,430 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $473,571,612 | BeginningYearBalanceAmt |
| Contributions | $11,064,758 | ContributionsAmt |
| Investment Earnings Or Losses | -$39,676,213 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $12,692,442 | OtherExpendituresAmt |
| End Year Balance | $432,267,715 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $364,553,093 | BeginningYearBalanceAmt |
| Contributions | $6,032,832 | ContributionsAmt |
| Investment Earnings Or Losses | $115,440,175 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $12,454,488 | OtherExpendituresAmt |
| End Year Balance | $473,571,612 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $375,592,689 | BeginningYearBalanceAmt |
| Contributions | $3,819,515 | ContributionsAmt |
| Investment Earnings Or Losses | -$3,349,936 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $11,509,175 | OtherExpendituresAmt |
| End Year Balance | $364,553,093 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $371,301,218 | BeginningYearBalanceAmt |
| Contributions | $3,063,022 | ContributionsAmt |
| Investment Earnings Or Losses | $11,338,929 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $10,110,480 | OtherExpendituresAmt |
| End Year Balance | $375,592,689 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.07410 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.74171 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.18419 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $54,580,084 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $86,944 | OtherCostOrOtherBasisAmt |
| Book Value | $54,667,028 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $39,392,369 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $1,313,680 | OtherCostOrOtherBasisAmt |
| Depreciation | $19,841,983 | DepreciationAmt |
| Book Value | $20,864,066 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $285,771 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $137,084 | OtherCostOrOtherBasisAmt |
| Depreciation | $332,483 | DepreciationAmt |
| Book Value | $90,372 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $1,556,114 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $602,970 | OtherCostOrOtherBasisAmt |
| Book Value | $2,159,084 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $77,780,550 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PRIVATE CAPITAL | $151,577,121 | F |
| DIVERSIFYING STRATEGIES | $98,211,451 | F |
| FIXED INCOME | $70,581,853 | F |
| CASH | $31,361,602 | F |
| OTHER INVESTMENTS | $1,364,523 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $353,096,550 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| ANNUITIES PAYABLE | $3,009,322 |
| CONTRIBUTIONS PAYABLE | $17,852,400 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $20,861,722 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $82,588,521 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $3,165,117 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $1,616,025 | OtherRevenueAmt |
| Revenue Not Reported | $4,781,142 | RevenueNotReportedAmt |
| Revenue Subtotal | $77,807,379 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $1,036,740 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $1,745,144 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,781,884 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $80,589,263 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $55,454,168 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $1,616,025 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $1,616,025 | ExpensesNotReportedAmt |
| Expenses Subtotal | $53,838,143 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $1,036,740 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $1,384,417 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,421,157 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $56,259,300 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, ANY INCOME FROM ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE WOULD BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN ADDITION, THE FOUNDATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VI) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF THE FOUNDATION AND DOES NOT BELIEVE THAT ANY UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS EXIST FOR THE YEARS ENDED JUNE 30, 2023 OR 2022. THE FOUNDATION'S POLICY IS TO REPORT ACCRUED INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS, WHEN APPLICABLE, AS INTEREST EXPENSE AND TO REPORT PENALTIES AS OTHER EXPENSE. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR TAX YEARS BEFORE 2020. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | SPECIAL EVENT EXPENSES 1,616,025. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | UNREALIZED GAIN ON INTEREST RATE SWAP -567,488. CHANGES IN VALUE OF SPLIT INTEREST AGREEMENTS 360,054. UNREALIZED LOSS ON INVESTMENT IN AFFILIATE 568,161. INVESTMENT INTEREST EXPENSE 1,384,417. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | SPECIAL EVENT EXPENSES 1,616,025. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INVESTMENT INTEREST EXPENSE 1,384,417. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|
| EUROPE | 0 | 0 | INVESTMENTS | $48,483,229 |
| DEVELOPED ASIA AND PACIFIC | 0 | 0 | INVESTMENTS | $20,694,061 |
| EMERGING MARKETS | 0 | 0 | INVESTMENTS | $30,154,203 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | $99,331,493 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $99,331,493 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | 0 | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (1) | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART III ACCOUNTING METHOD: | FormAndLineReferenceDesc |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | LOWVELO | Event1Nm |
| Gross Receipts Event1 | $1,158,540 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $1,070,088 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $88,452 | GrossRevenueEvent1Amt |
| Other Direct Expenses Event1 | $500,196 | OtherDirectExpensesEvent1Amt |
| Event2 | GOURMET AND GRAPES | Event2Nm |
| Gross Receipts Event2 | $781,600 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $472,066 | CharitableContriEvent2Amt |
| Gross Revenue Event2 | $309,534 | GrossRevenueEvent2Amt |
| Other Direct Expenses Event2 | $326,600 | OtherDirectExpensesEvent2Amt |
| Other Events Total | 22 | OtherEventsTotalCnt |
| Gross Receipts Other Events | $2,728,078 | GrossReceiptsOtherEventsAmt |
| Charitable Contri Other Events | $1,715,020 | CharitableContriOtherEventsAmt |
| Gross Revenue Other Events | $1,013,058 | GrossRevenueOtherEventsAmt |
| Oth Direct Expnss Other Events | $789,229 | OthDirectExpnssOtherEventsAmt |
| Gross Receipts Total | $4,668,218 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $3,257,174 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $1,411,044 | GrossRevenueTotalEventsAmt |
| Oth Direct Expnss Total Events | $1,616,025 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $1,616,025 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$204,981 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|---|
| MEDICAL UNIVERSITY OF SOUTH CAROLINA | ||||||||||
| 18 BEE STREET | CHARLESTON | SC | 29425 | 576007222 | 115 | $40,124,782 | $733,005 | FMV | MATERIALS, SUPPLIES, AND CAPITAL | ASSIST UNIVERSITY |
| MUSC HOSPITAL AUTHORITY | ||||||||||
| 171 ASHLEY AVENUE | CHARLESTON | SC | 29425 | 571098556 | 501 (C) (3) | $6,746,770 | $53,015 | FMV | MATERIALS, SUPPLIES, AND CAPITAL | ASSIST HOSPITAL |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FOUNDATION PROVIDES ASSISTANCE TO TWO RELATED TAX-EXEMPT ORGANIZATIONS. ALL REQUESTS ARE REVIEWED TO ENSURE THAT THEY REMAIN WITHIN THE DONOR'S INTENT AND SATISFY ALL REQUIREMENTS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | 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 (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STUART AMES | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $0 | $307,893 | $0 | $250,000 | $0 | $0 | $0 | $0 | $0 | $6,983 | $0 | $564,876 | $0 | $0 |
| ROBYN FRAMPTON | ||||||||||||||
| COO/EXECUTIVE VICE PRESIDENT | $0 | $180,340 | $0 | $32,000 | $0 | $0 | $0 | $0 | $0 | $3,935 | $0 | $216,275 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 4B | THOMAS P. ANDERSON RETIRED ON JUNE 30, 2019 AND RECEIVED AN ANNUAL INSTALLMENT OF $50,000 DURING FISCAL-YEAR '23 FROM A DEFERRED COMPENSATION RETIREMENT PLAN. |
| PART II, COLUMN B: | THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS RELIES ON PERFORMANCE EVALUATIONS, BENCHMARKING DATA, AND INDEPENDENT CONSULTANTS IN DETERMINATION OF INCENTIVE COMPENSATION PAYMENT. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (4 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|
| SOUTH CAROLINA JOBS- ECONOMIC DEVELOPMENT AUTHORITY | |||||||
| A | 570960018 | 2009-12-17 | $1,083,280 | BUILDING AND STRUCTURES | 0 | 0 | 0 |
| SOUTH CAROLINA JOBS- ECONOMIC DEVELOPMENT AUTHORITY | |||||||
| B | 570960018 | 2009-12-17 | $2,360,428 | BUILDING AND STRUCTURES | 0 | 0 | 0 |
| SOUTH CAROLINA JOBS- ECONOMIC DEVELOPMENT AUTHORITY | |||||||
| C | 570960018 | 2009-12-17 | $20,858,099 | BUILDING AND STRUCTURES | 0 | 0 | 0 |
| SOUTH CAROLINA JOBS- ECONOMIC DEVELOPMENT AUTHORITY | |||||||
| D | 570960018 | 2010-01-07 | $19,381,084 | BUILDING AND STRUCTURES | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (4 entries)
| Bond ReferenceBondReferenceCd | Total ProceedsTotalProceedsAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|
| A | $1,083,280 | $6,000 | $1,077,280 | 2009 | 0 | 0 | Yes (1) | Yes (1) |
| B | $2,360,428 | $10,000 | $2,350,428 | 2009 | 0 | 0 | Yes (1) | Yes (1) |
| C | $20,858,099 | $96,000 | $20,762,099 | 2009 | 0 | 0 | Yes (1) | Yes (1) |
| D | $19,381,084 | $88,000 | $19,293,084 | 2010 | 0 | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (4 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | Yes (1) | 0 | 0 | 0 | 0 | 0 | 0 |
| B | Yes (1) | 0 | 0 | 0 | 0 | 0 | 0 |
| C | Yes (1) | 0 | 0 | 0 | 0 | 0 | 0 |
| D | Yes (1) | 0 | 0 | 0 | 0 | 0 | 0 |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (4 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Term Of HedgeTermOfHedgePct | Superintegrated HedgeSuperintegratedHedgeInd | Hedge TerminatedHedgeTerminatedInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BB&T | ||||||||||||
| A | 0 | 0 | Yes (1) | 0 | Yes (1) | Yes (1) | 10.000000000000 | 0 | 0 | 0 | 0 | 0 |
| BB&T | ||||||||||||
| B | 0 | 0 | Yes (1) | 0 | Yes (1) | Yes (1) | 10.000000000000 | 0 | 0 | 0 | 0 | 0 |
| BB&T | ||||||||||||
| C | 0 | 0 | Yes (1) | 0 | Yes (1) | Yes (1) | 10.000000000000 | 0 | 0 | 0 | 0 | 0 |
| BB&T | ||||||||||||
| D | 0 | 0 | Yes (1) | 0 | Yes (1) | Yes (1) | 10.000000000000 | 0 | 0 | 0 | 0 | 0 |
Procedures Corrective Action ProceduresCorrectiveActionGrp (4 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | 0 |
| B | 0 |
| C | 0 |
| D | 0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE K, PART IV, LINE 4C: | FormAndLineReferenceDesc |
| Explanation | EFFECTIVE AS OF NOVEMBER 17, 2014, THE FOUNDATION ENTERED INTO AN AMENDED INTEREST RATE SWAP AGREEMENT TO EFFECTIVELY EXCHANGE THE FOUNDATION'S VARIABLE INTEREST RATE EXPOSURE OF 68% OF ONE- MONTH LIBOR RATE PLUS 0.7150% WITH NO FLOOR ON THE NOTIONAL AMOUNT OF THE BOND TO A FIXED 2.73% RATE. THIS AGREEMENT WAS AMENDED AS OF FEBRUARY 17, 2018 TO EFFECTIVELY EXCHANGE THE FOUNDATION'S VARIABLE INTEREST RATE EXPOSURE OF 68% OF ONE-MONTH LIBOR RATE PLUS 0.7150% WITH NO FLOOR ON THE NOTIONAL AMOUNT OF THE BOND TO A FIXED 3.34% RATE. THIS INTEREST RATE SWAP AGREEMENT MATURES OCTOBER 17, 2029. | ExplanationTxt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTH CAROLINA JOBS- ECONOMIC DEVELOPMENT AUTHORITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 570960018 | BondIssuerEIN |
| Bond Issued | 2018-05-09 | BondIssuedDt |
| Issue Price | $15,755,000 | IssuePriceAmt |
| Purpose | BUILDING, STRUCTURES & LAND | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | $15,755,000 | TotalProceedsAmt |
| Issuance Costs From Proceeds | $156,099 | IssuanceCostsFromProceedsAmt |
| Capital Expenditures | $15,598,901 | CapitalExpendituresAmt |
| Substantial Completion | 2018 | SubstantialCompletionYr |
| Refunding Tax Exempt Bonds | 0 | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | 0 | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | Yes (1) | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | 0 | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | Yes (1) | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | Yes (1) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
Hedge Provider Name HedgeProviderName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTH STATE BANK | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 10.000000000000 | TermOfHedgePct |
| Superintegrated Hedge | 0 | SuperintegratedHedgeInd |
| Hedge Terminated | 0 | HedgeTerminatedInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | 0 | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | 0 | ProceduresCorrectiveActionInd |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 4 | ContributionCnt |
| Noncash Contributions Rpt F990 | $53,015 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | APPRAISALS | MethodOfDeterminingRevenuesTxt |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 105 | ContributionCnt |
| Noncash Contributions Rpt F990 | $9,276,032 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
Real Estate Other RealEstateOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $130,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | APPRAISALS | MethodOfDeterminingRevenuesTxt |
Drugs And Medical Supplies DrugsAndMedicalSuppliesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 3 | ContributionCnt |
| Noncash Contributions Rpt F990 | $295,376 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp (2 entries)
| Non Cash CheckboxNonCashCheckboxInd | DescDesc | ContributionContributionCnt | Noncash Contributions Rpt F990NoncashContributionsRptF990Amt | Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt |
|---|---|---|---|---|
| Yes (X) | SPECIAL EVENT ITEMS | 37 | $143,754 | FMV |
| Yes (X) | PROGRAM SUPPLIES | 11 | $131,048 | FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (1) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 32B: | FormAndLineReferenceDesc |
| Explanation | WE RETAIN A STOCK BROKER TO LIQUIDATE STOCK GIFTS AND REAL ESTATE BROKERS TO SELL REAL ESTATE GIFTS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | PRIOR TO FILING, MANAGEMENT PROVIDES AN ELECTRONIC COPY OF THE 990 TO THE BOARD OF DIRECTORS ALONG WITH AN EXECUTIVE SUMMARY FOR THEIR REVIEW AND FEEDBACK. IN ADDITION, THE 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE POLICY IS PROVIDED TO ALL DIRECTORS, PRINCIPAL OFFICERS, AND TOP MANAGEMENT ANNUALLY. THEY ARE ASKED TO SIGN A STATEMENT AFFIRMING THAT THEY HAVE RECEIVED A COPY OF THE POLICY, HAVE READ AND UNDERSTAND THE POLICY, AND AGREE TO COMPLY WITH THE POLICY. THE BOARD IS ALSO SURVEYED FOR ANY ISSUES. IN THE EVENT OF A POTENTIAL CONFLICT DURING THE YEAR, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE ON THE MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS SETS COMPENSATION FOR THE CEO. THE COMMITTEE RELIES ON PERFORMANCE EVALUATIONS, PEER AND INDUSTRY COMPARISONS, AND ANY ADDITIONAL INDEPENDENT DATA TO SET THE EXECUTIVE COMPENSATION. THE DECISION IS DOCUMENTED IN THE BOARD MINUTES. BOTH THE COO'S AND CFO'S COMPENSATION IS SET BY THE CEO WITH ASSISTANCE OF THE BOARD CHAIRPERSON. A FORMAL PERFORMANCE EVALUATION IS PREPARED ALONG WITH COMPARABLE DATA FROM INDEPENDENT PARTIES AND PEERS. ALL MANAGEMENT AND STAFF ARE EMPLOYEES OF EITHER MUSC OR MUSC PHYSICIANS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE THROUGH ITS OWN WEBSITE. ALSO PROVIDED ON THE WEBSITE ARE CERTAIN GOVERNING DOCUMENTS AS WELL AS THE ORGANIZATION'S IRS DETERMINATION LETTER. THE CONFLICT OF INTEREST POLICY AND OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. THE FOUNDATION IS CONTINUING TO MAKE MORE INFORMATION AVAILABLE THROUGH ITS WEBSITE. |
| FORM 990, PART XI, LINE 9: | UNREALIZED GAIN ON INTEREST RATE SWAP 567,488. CHANGES IN VALUE OF SPLIT INTEREST AGREEMENTS -360,054. UNREALIZED LOSS ON INVESTMENT IN AFFILIATE -568,161. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS HAS NOT CHANGED. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| 55 BEE STREET LLC | |||||||||
| 55 BEE STREET | CHARLESTON | SC | 29425 | 576028985 | RENTAL | SC | -$5,577 | $1,347,623 | MUSC FOUNDATION |
| PARKING GARAGE ASSOCIATES LLC | |||||||||
| 18 BEE STREET | CHARLESTON | SC | 29425 | 576028985 | RENTAL | SC | $1,203,004 | $23,666,876 | MUSC FOUNDATION |
| 135 CANNON STREET | |||||||||
| 135 CANNON STREET | CHARLESTON | SC | 29403 | 576028985 | RENTAL | SC | $1,386,108 | $30,158,794 | MUSC FOUNDATION |
| 165 CANNON STREET | |||||||||
| 165 CANNON STREET | CHARLESTON | SC | 29403 | 576028985 | RENTAL | SC | $332,602 | $12,162,956 | MUSC FOUNDATION |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| MEDICAL UNIVERSTIY OF SOUTH CAROLINA | ||||||||||
| 171 ASHLEY AVENUE | CHARLESTON | SC | 29425 | 576007222 | UNIVERSITY | SC | IRC 115 | LINE 6 | N/A | 0 |
| MUSC HOSPITAL AUTHORITY | ||||||||||
| 171 ASHLEY AVENUE | CHARLESTON | SC | 29425 | 571098556 | HOSPITAL | SC | 501(C)(3) | LINE 6 | N/A | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | Yes (1) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (6 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| MEDICAL UNIVERSTIY OF SOUTH CAROLINA | ||
| B | $40,857,787 | FMV |
| MEDICAL UNIVERSTIY OF SOUTH CAROLINA | ||
| J | $4,661,439 | FMV |
| MEDICAL UNIVERSTIY OF SOUTH CAROLINA | ||
| M | $20,714 | FMV |
| MEDICAL UNIVERSTIY OF SOUTH CAROLINA | ||
| O | $885,549 | FMV |
| MUSC HOSPITAL AUTHORITY | ||
| B | $6,799,785 | FMV |
| MUSC HOSPITAL AUTHORITY | ||
| J | $114,438 | FMV |