UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION (EIN 57-6026593)
- Tax period
- 2023-07-01 to 2024-06-30
- Filed
- 2025-05-12
- IRS object ID
- 202501329349302335
- Schema version
- 2023v6.0
- 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 J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-05-12T11:27:30+00:00 | ReturnTs |
| Tax Period End | 2024-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 440160260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Forvis Mazars LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 Ridgefield Court | AddressLine1Txt |
| City | Asheville | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28806 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 576026593 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | University of South Carolina Development Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UNIV | BusinessNameControlTxt |
| Phone | 8037771466 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1027 Barnwell Street | AddressLine1Txt |
| City | Columbia | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29208 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | R JASON CASKEY | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Signature | 2025-05-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Amy Bibby | PreparerPersonNm |
| PTIN | P00445891 | PTIN |
| Phone | 8282542254 | PhoneNum |
| Preparation | 2025-05-12 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | R JASON CASKEY | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1027 Barnwell Street | AddressLine1Txt |
| City | Columbia | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29208 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $21,392,529 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | USCFOUNDATIONS.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1965 | FormationYr |
| Legal Domicile State | SC | LegalDomicileStateCd |
| Activity Or Mission | See Schedule O. | ActivityOrMissionDesc |
| Voting Members Governing Body | 19 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 17 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $255,827 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $782,340 | PYContributionsGrantsAmt |
| CY Contributions Grants | $965,676 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $838,561 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,529,537 | CYInvestmentIncomeAmt |
| PY Other Revenue | $5,422,591 | PYOtherRevenueAmt |
| CY Other Revenue | $7,255,062 | CYOtherRevenueAmt |
| PY Total Revenue | $7,043,492 | PYTotalRevenueAmt |
| CY Total Revenue | $9,750,275 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $646,067 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $362,631 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,543,236 | PYOtherExpensesAmt |
| CY Other Expenses | $13,829,511 | CYOtherExpensesAmt |
| PY Total Expenses | $6,189,303 | PYTotalExpensesAmt |
| CY Total Expenses | $14,192,142 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $854,189 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$4,441,867 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $258,285,748 | TotalAssetsBOYAmt |
| Total Assets EOY | $351,018,821 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $198,932,778 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $287,419,593 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $59,352,970 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $63,599,228 | NetAssetsOrFundBalancesEOYAmt |
| Mission | To support the University of South Carolina in acquiring, developing, and managing real estate and other special assets to serve the needs of the University. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $13,270,416 | ExpenseAmt |
| Revenue | $2,405,291 | RevenueAmt |
| Desc | The primary purposes of the foundation are to acquire real and personal property; and to hold, rent, sell, or transfer such property in accordance with the needs of the university of south Carolina. | Desc |
| Total Program Service Expenses | $13,270,416 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | Yes (true) | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (true) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (true) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (true) | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 60 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 19 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 17 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | SC | 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 | R JASON CASKEY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8037770201 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1027 Barnwell Street | AddressLine1Txt |
| City | Columbia | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29208 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| James W Cantey | |||||||||
| Chair | 2.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| Lee S Dixon | |||||||||
| Vice Chair | 2.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| M Elizabeth Crum | |||||||||
| Chair Emeritus | 1.5 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| A Stanley Harpe III | |||||||||
| Director | 5.0 | Yes (X) | $0 | $0 | $0 | 1.0 | |||
| C Dan Adams | |||||||||
| Director | 1.0 | Yes (X) | $0 | $0 | $0 | 3.0 | |||
| C David Tuttle | |||||||||
| Director | 1.0 | Yes (X) | $0 | $0 | $0 | ||||
| David M Lambert | |||||||||
| Director | 1.0 | Yes (X) | $0 | $0 | $0 | ||||
| Deepal S Eliatamby | |||||||||
| Director | 1.0 | Yes (X) | $0 | $0 | $0 | ||||
| Dr Susie H VanHuss | |||||||||
| Director | 1.0 | Yes (X) | $0 | $0 | $0 | ||||
| Dr Tom H Regan | |||||||||
| Director | 0.5 | Yes (X) | $0 | $128,395 | $0 | ||||
| F Page Morris | |||||||||
| Director | 1.0 | Yes (X) | $0 | $0 | $0 | ||||
| Herbert C Adams | |||||||||
| Director | 0.5 | Yes (X) | $0 | $0 | $0 | ||||
| Jim O Stuckey II | |||||||||
| Director | 1.0 | Yes (X) | $0 | $0 | $0 | ||||
| Mark W Buyck Jr | |||||||||
| Director | 1.5 | Yes (X) | $0 | $0 | $0 | ||||
| S Alan Medlin | |||||||||
| Director | 3.0 | Yes (X) | $0 | $236,425 | $0 | 50.0 | |||
| Susan M Douglas | |||||||||
| Director | 3.0 | Yes (X) | $0 | $0 | $0 | ||||
| Swati S Patel | |||||||||
| Director | 0.3 | Yes (X) | $0 | $0 | $0 | ||||
| Thomas E Suggs | |||||||||
| Director | 2.0 | Yes (X) | $0 | $0 | $0 | ||||
| William C Hammett Jr | |||||||||
| Director | 4.0 | Yes (X) | $0 | $0 | $0 | ||||
| Kimberly H Elliott | |||||||||
| Treasurer and CFO | 10.0 | Yes (X) | $0 | $287,250 | $13,288 | 30.0 | |||
| Lindsey E Fisher | |||||||||
| Secretary | 10.0 | Yes (X) | $0 | $29,691 | $14,242 | 30.0 | |||
| R Hunter Lambert | |||||||||
| Assistant Vice President, Director of Real Estate | 25.0 | Yes (X) | $0 | $132,795 | $23,936 | 15.0 | |||
| R Jason Caskey | |||||||||
| President and CEO | 25.0 | Yes (X) | $0 | $451,421 | $27,368 | 15.0 | |||
| Sandy Hightower | |||||||||
| Secretary | 10.0 | Yes (X) | $0 | $36,592 | $13,954 | 30.0 | |||
| Susan B Smith | |||||||||
| Chief Operating Officer | 10.0 | $0 | $196,193 | $71,491 | 30.0 | Yes (X) | |||
| Jean F Pinckney | |||||||||
| Director of Accounting | 39.0 | $0 | $139,846 | $12,433 | 1.0 | Yes (X) | |||
| Jennifer S Muir | |||||||||
| Director of Investments | 1.0 | $0 | $157,207 | $56,914 | 39.0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,795,815 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $233,626 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| New South Construction Inc | |||||
| 1108 West Peachtree St Suite 700 | Atlanta | GA | 30309 | Construction services | $2,592,083 |
| Holder Properties Inc | |||||
| 3300 Cumberland Blvd Suite 200 | Atlanta | GA | 30339 | Property/construction mgmt | $2,416,577 |
| Cooper Carry | |||||
| 191 Peachtree St | Atlanta | GA | 30303 | Architectural services | $1,769,366 |
| Coogler Construction Inc | |||||
| PO Box 177 | Ballentine | SC | 29002 | Construction services | $332,303 |
| Allied Universal Security Services | |||||
| 140 Stoneridge Dr Suite 650 | Columbia | SC | 29210 | Security services | $143,004 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $965,676 | AllOtherContributionsAmt |
| Noncash Contributions | $287,000 | NoncashContributionsAmt |
| Total Contributions | $965,676 | TotalContributionsAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $0 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $505,938 | TotalRevenueColumnAmt |
| Exclusion | $505,938 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $15,000,979 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $10,188,570 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $4,812,409 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,812,409 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $218,465 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,593,944 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,477,283 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,453,684 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,023,599 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,023,599 | TotalRevenueColumnAmt |
| Exclusion | $1,023,599 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| Reimbursement of prior year expenses | 900099 | $1,001,143 | $1,001,143 | |
| Parking revenue - West Campus | 480000 | $431,589 | $426,714 | $4,875 |
| Parking revenue - Other | 480000 | $393,276 | $393,276 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $616,645 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $584,158 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $32,487 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,442,653 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,750,275 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,405,291 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $255,827 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,123,481 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $270,000 | TotalAmt |
| Management And General | $270,000 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $92,631 | TotalAmt |
| Program Services | $17,631 | ProgramServicesAmt |
| Management And General | $75,000 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100,276 | TotalAmt |
| Program Services | $76,019 | ProgramServicesAmt |
| Management And General | $24,257 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,700 | TotalAmt |
| Management And General | $66,700 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,092 | TotalAmt |
| Program Services | $1,913 | ProgramServicesAmt |
| Management And General | $14,179 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $419,870 | TotalAmt |
| Program Services | $387,874 | ProgramServicesAmt |
| Management And General | $31,996 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $44,109 | TotalAmt |
| Program Services | $44,109 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,676 | TotalAmt |
| Program Services | $64,658 | ProgramServicesAmt |
| Management And General | $26,018 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,240 | TotalAmt |
| Program Services | $22,896 | ProgramServicesAmt |
| Management And General | $22,344 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $309,662 | TotalAmt |
| Program Services | $309,614 | ProgramServicesAmt |
| Management And General | $48 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $48,839 | TotalAmt |
| Program Services | $2,187 | ProgramServicesAmt |
| Management And General | $46,652 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,170 | TotalAmt |
| Management And General | $1,170 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,822,358 | TotalAmt |
| Program Services | $1,822,358 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,067,169 | TotalAmt |
| Program Services | $1,067,169 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $237,018 | TotalAmt |
| Program Services | $171,532 | ProgramServicesAmt |
| Management And General | $65,486 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| Contributions to others | $6,117,983 | $6,116,983 | $1,000 |
| Construction costs | $2,707,817 | $2,707,817 | |
| Scholarships | $182,269 | $182,269 | |
| Maintenance and repairs | $359,155 | $358,619 | $536 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $193,108 | TotalAmt |
| Program Services | $99,037 | ProgramServicesAmt |
| Management And General | $94,071 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,192,142 | TotalAmt |
| Program Services | $13,270,416 | ProgramServicesAmt |
| Management And General | $921,726 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,063,298 | BOYAmt |
| EOY | $15,023,343 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $752,216 | BOYAmt |
| EOY | $437,152 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $853,451 | BOYAmt |
| EOY | $786,662 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,506 | BOYAmt |
| EOY | $10,006 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $309,260,216 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $38,883,972 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $196,673,548 | BOYAmt |
| EOY | $270,376,244 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,810,090 | BOYAmt |
| EOY | $27,310,287 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,110,639 | BOYAmt |
| EOY | $37,075,127 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $258,285,748 | BOYAmt |
| EOY | $351,018,821 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,245,586 | BOYAmt |
| EOY | $27,988,455 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $207,993 | BOYAmt |
| EOY | $336,296 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $85,173,850 | BOYAmt |
| EOY | $167,827,712 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,342 | BOYAmt |
| EOY | $66,992 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,167,125 | BOYAmt |
| EOY | $58,867,533 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,105,882 | BOYAmt |
| EOY | $32,332,605 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $198,932,778 | BOYAmt |
| EOY | $287,419,593 | 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 | $48,586,456 | BOYAmt |
| EOY | $52,883,861 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,766,514 | BOYAmt |
| EOY | $10,715,367 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,352,970 | BOYAmt |
| EOY | $63,599,228 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $258,285,748 | BOYAmt |
| EOY | $351,018,821 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$4,441,867 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,530,067 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $7,158,058 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type3 Func Int | Yes (X) | SupportingOrgType3FuncIntInd |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | University of South Carolina | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 576001153 | EIN |
| Organization Type | 5 | OrganizationTypeCd |
| Governing Document Listed | Yes (true) | GoverningDocumentListedInd |
| Support | $13,270,416 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $13,270,416 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (true) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | false | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | false | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | false | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | false | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | false | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | false | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | false | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | false | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | false | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | false | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | false | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timely Provided Documents | Yes (true) | TimelyProvidedDocumentsInd |
| Officers Close Relationship | Yes (true) | OfficersCloseRelationshipInd |
| Supported Org Voice Investment | Yes (true) | SupportedOrgVoiceInvestmentInd |
Form990 Sch A Type3 Func Int Form990SchAType3FuncIntGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Governmental Entity | Yes (X) | GovernmentalEntityInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule A, Part IV, Section D, Line 3 Supp. Org. Have Significant Voice In Investment Policies | The Foundation has a Board member who also serves as a Board member of the supported organization, the University of South Carolina (the University). In addition, the Foundation's Board regularly meets with the administration of the University to be advised of the University's real estate needs so that the Foundation can plan acquisitions or constructions of property that meet the needs of the University. |
| Schedule A, Part IV, Section E, Line 1c The Organization Supported A Government Entity Explanation | The Foundation acquires and develops real estate for the University, which is an agency of the State of South Carolina. |
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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Protection Natural Habitat | Yes (X) | ProtectionNaturalHabitatInd |
| Total Easements | 1 | TotalEasementsCnt |
| Total Acreage | 1084.0 | TotalAcreageCnt |
| States Easements Held | 1 | StatesEasementsHeldCnt |
| Written Policy Monitoring | false | WrittenPolicyMonitoringInd |
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $31,100,601 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $2,850,545 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $182,269 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,757,810 | OtherExpendituresAmt |
| Administrative Expenses | $269,577 | AdministrativeExpensesAmt |
| End Year Balance | $29,741,490 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $23,439,446 | BeginningYearBalanceAmt |
| Contributions | $5,765,744 | ContributionsAmt |
| Investment Earnings Or Losses | $2,581,329 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $25,750 | GrantsOrScholarshipsAmt |
| Other Expenditures | $431,231 | OtherExpendituresAmt |
| Administrative Expenses | $228,937 | AdministrativeExpensesAmt |
| End Year Balance | $31,100,601 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $27,882,244 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | -$4,110,851 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $63,454 | OtherExpendituresAmt |
| Administrative Expenses | $268,493 | AdministrativeExpensesAmt |
| End Year Balance | $23,439,446 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $26,682,911 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $7,851,663 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $6,362,939 | OtherExpendituresAmt |
| Administrative Expenses | $289,391 | AdministrativeExpensesAmt |
| End Year Balance | $27,882,244 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $27,424,568 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | -$416,005 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $62,969 | OtherExpendituresAmt |
| Administrative Expenses | $262,683 | AdministrativeExpensesAmt |
| End Year Balance | $26,682,911 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.8631 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.1369 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.0 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | false | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | false | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $15,010,490 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $7,204,061 | OtherCostOrOtherBasisAmt |
| Book Value | $22,214,551 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $29,751,272 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $145,367,972 | OtherCostOrOtherBasisAmt |
| Depreciation | $34,867,069 | DepreciationAmt |
| Book Value | $140,252,175 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,531,163 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,024,513 | DepreciationAmt |
| Book Value | $506,650 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $108,395,258 | OtherCostOrOtherBasisAmt |
| Depreciation | $992,390 | DepreciationAmt |
| Book Value | $107,402,868 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $270,376,244 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (6 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Operating right of use assets | $24,806,070 |
| Interest rate swaps | $10,239,838 |
| Straight line lease adjustments | $719,261 |
| Deferred lease incentive | $953,908 |
| Leasing commissions | $316,050 |
| Funds held by others | $40,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $37,075,127 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| due to usc educational foundation | $6,416,763 |
| due to others | |
| Operating right of use liabilities | $25,915,842 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $32,332,605 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $31,433,741 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,530,067 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $10,295,985 | OtherRevenueAmt |
| Revenue Not Reported | $11,826,052 | RevenueNotReportedAmt |
| Revenue Subtotal | $19,607,689 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $16,092 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$9,873,506 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$9,857,414 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $9,750,275 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $27,187,483 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $13,011,433 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $13,011,433 | ExpensesNotReportedAmt |
| Expenses Subtotal | $14,176,050 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $16,092 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $0 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $16,092 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $14,192,142 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part II, Line 9 Conservation easements financial reporting | A conservation easement was gifted to the Foundation. No value is reported on the balance sheet. Maintenance expenses are included in the Statement of Functional Expenses when incurred. |
| Schedule D, Part IV, Line 2b Explanation of escrow agreement | The Foundation has agreed to hold funds for other entities that are available upon their request. The funds totaled $66,992 at June 30, 2024. |
| Schedule D, Part V, Line 4 Intended uses of endowment funds | Endowment funds are used, in accordance with any donor restrictions, to support the real and personal property needs of the University of South Carolina. |
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | THE FOUNDATION HAS BEEN GRANTED EXEMPTION FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NO PROVISION FOR INCOME TAX, other than unrelated business income tax, IS RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2024. |
| Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 | USCInnovation, LLC revenue - entity files a separate return - 3062304 Unrealized gain on interest rate swaps - West Campus - 1437719 Unrealized gain on interest rate swaps - USCInnovation - 138508 Unrealized gain on interest rate swap - Gadsden & Greene - 5657454 |
| Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements | change in pledges receivable - 315064 Rental expenses for West Campus netted against rent revenue - -10188570 |
| Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 | USCInnovation, LLC expenses - filing separate return - 2822863 Rental expenses for West Campus netted against rent revenue - 10188570 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| S Alan Medlin | ||||||||||||||
| Director | $0 | $236,425 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $236,425 | $0 | $0 |
| R Jason Caskey | ||||||||||||||
| President and CEO | $0 | $388,921 | $0 | $40,000 | $0 | $22,500 | $0 | $11,625 | $0 | $15,743 | $0 | $478,789 | $0 | $0 |
| Kimberly H Elliott | ||||||||||||||
| Treasurer and CFO | $0 | $254,750 | $0 | $10,000 | $0 | $22,500 | $0 | $10,703 | $0 | $2,585 | $0 | $300,538 | $0 | $0 |
| R Hunter Lambert | ||||||||||||||
| Assistant Vice President, Director of Real Estate | $0 | $122,295 | $0 | $10,500 | $0 | $0 | $0 | $9,062 | $0 | $14,874 | $0 | $156,731 | $0 | $0 |
| Susan B Smith | ||||||||||||||
| Chief Operating Officer | $0 | $196,193 | $0 | $0 | $0 | $0 | $0 | $67,357 | $0 | $4,134 | $0 | $267,684 | $0 | $0 |
| Jennifer S Muir | ||||||||||||||
| Director of Investments | $0 | $156,707 | $0 | $500 | $0 | $0 | $0 | $9,544 | $0 | $47,370 | $0 | $214,121 | $0 | $0 |
| Jean F Pinckney | ||||||||||||||
| Director of Accounting | $0 | $139,346 | $0 | $500 | $0 | $0 | $0 | $9,250 | $0 | $3,183 | $0 | $152,279 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule J, Part III ADDITIONAL INFORMATION | FormAndLineReferenceDesc |
| Explanation | USC Educational Foundation employees provide services for both the USC Educational Foundation and the USC Development Foundation, including its subsidiaries. The amounts in Schedule J include compensation for services rendered to both organizations. The USC Development Foundation and its subsidiaries provide the USC Educational Foundation with a lump sum allocation toward personnel expenses. | ExplanationTxt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 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 | 2014-07-31 | $88,065,000 | To Finance the Construction of a dormitory USC DF - West Campus, LLC | false | false | false |
| South Carolina Jobs-Economic Development Authority | |||||||
| B | 570960018 | 2022-11-28 | $172,000,000 | To Finance the Construction of a dormitory - Gadsden & Greene, LLC | false | false | false |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|
| A | $11,650,011 | $88,065,000 | $341,803 | 2016 | false | false | Yes (true) | Yes (true) |
| B | $172,000,000 | $1,202,514 | false | false | false | Yes (true) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|
| A | false | false | false | false | 0.0 | false | false | Yes (true) |
| B | false | false | false | false | 0.0 | false | false | Yes (true) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 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 | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | false | false | false | Yes (true) | Yes (true) | false | false | false | false |
| B | false | Yes (true) | false | false | Yes (true) | false | false | false | false |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | false |
| B | false |
Schedule M IRS990ScheduleM
Real Estate Other RealEstateOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $287,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | Market value | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 1 | Form8283ReceivedCnt |
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (true) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions | The Foundation uses a third party to process noncash contributions of securities. The Foundation hires real estate agents to sell donated real estate. |
| Schedule M, Part I Explanations of reporting method for number of contributions | Real estate - Other - 1 parcel of land |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part I, Line 1 | To support the University of South Carolina in acquiring, developing, and managing real estate and other special assets to serve the needs of the University. |
| Form 990, Part VI, Line 15 | Officer's compensation is determined based on performance and board reviews. Salaries are derived from comparable industry data and achievement of performance standards established at the beginning of each fiscal year. |
| Form 990, Part VI, Line 2 Family/business relationships amongst interested persons | Kimberly H. Elliott & Susan B. Smith - Business relationship |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | A copy of the 990 is E-mailed to each board member prior to filing. Board members are requested to review the form and notify the foundation prior to the form due date if they have any comments or corrections to the form. |
| Form 990, Part VI, Line 12c Conflict of interest policy | The Foundation's conflict of interest policy is e-mailed annually to each Board member. Attached to the copy of the conflict of interest policy is a signature form for each board member to sign and indicate that they have read, and complied with, the foundation's conflict of interest policy for the year. The signature forms are collected and kept by the foundation. |
| Form 990, Part VI, Line 19 Required documents available to the public | The organization's Governing documents, conflict of interest policy, financial statements, annual form 990 and 990-T are available on the organization's website and upon written request. |
| Form 990, Part VIII, Line 11d Other Miscellaneous Revenue | All other revenue - Total Revenue: 616645, Related or Exempt Function Revenue: 584158, Unrelated Business Revenue: 32487, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | CHANGES IN PLEDGES RECEIVABLE - -315064; UNREALIZED gain on INTEREST RATE SWAPS - 7233681; Net Income from USCInnovation, LLC filing separate return - 239441; |
| Form 990, Part XII, Line 2c Change of oversight process or selection process | the process has not changed from the prior year. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (10 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|
| CDRC LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | Land/bldg to house USC Child Development Research Center | SC | $293,059 | $3,861,821 | USC DF |
| Williams at blossom llc | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | Real Estate investment | SC | $159,270 | $1,026,631 | USC DF |
| Addesso-DF LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | Owns 49% interest in residential/retail condo project via Addesso/columbia | SC | $0 | $0 | USC DF |
| The Inn At USC LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | Ground lease to usc hotel associates, llc | SC | $206,667 | $3,652,756 | USC DF |
| West Campus LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | university student housing | SC | $11,199,973 | $99,406,725 | USC DF |
| CPF Properties II LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | real estate development | SC | $911,898 | $12,786,232 | USC DF |
| Innovista Parking LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | leasing campus parking spaces | SC | $1,547,932 | $13,832,015 | USC DF |
| Superior Tennis Center LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | University tennis facility | SC | $0 | $6,609,852 | USC DF |
| Gadsden & Greene LLC | ||||||||
| 1027 Barnwell Street | Columbia | SC | 29208 | Student HOusing | SC | $0 | $127,601,771 | USC DF |
| Pickens & Gervais LLC | ||||||||
| 1027 Barnwell Street | columbia | SC | 29208 | Real estate investment | SC | $203,286 | $2,525,832 | usC DF |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt |
|---|---|---|---|---|---|---|---|---|---|---|
| University of south carolina | ||||||||||
| 1718 College Street | Columbia | SC | 29208 | 576001153 | Public university | SC | NA | false | ||
| University of South Carolina educational foundation | ||||||||||
| 1027 Barnwell Street | columbia | SC | 29208 | 576017985 | Education and research support | SC | NA | false | 501(c)(3) | 5 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | USCInnovation LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1027 Barnwell street | AddressLine1Txt |
| City | columbia | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29208 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 465676518 | EIN |
| Primary Activities | real estate development | PrimaryActivitiesTxt |
| Legal Domicile State | SC | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | USC DF | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C Corporation | EntityTypeTxt |
| Share Of Total Income | $3,062,304 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $20,796,873 | ShareOfEOYAssetsAmt |
| Ownership | 1 | OwnershipPct |
| Controlled Organization | false | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (true) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | Yes (true) | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | Yes (true) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (true) | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (true) | TransferFromOtherOrgInd |