2023-05-15T09:13:12-05:00 2022-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2021-07-01 570314395 FURMAN UNIVERSITY FURM 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 SUSAN MADDUX VP FINANCE & ADMINISTRATION 8642943496 2023-05-13 1 SUSAN MADDUX 999009999 AMANDA ADAMS P00748038 8642333981 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DR ELIZABETH DAVIS 3300 POINSETT HIGHWAY GREENVILLE SC 29613 310033581 0 X WWW.FURMAN.EDU X 1826 SC FURMAN UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING DISTINCTIVE UNDERGRADUATE EDUCATION EMPHASIZING AN ENGAGED APPROACH COMBINING CLASSROOM LEARNING WITH REAL WORLD EXPERIENCES AND SELF-DISCOVERY. 27 26 2365 0 -3969522 0 83565475 45654957 153333893 165918573 65376898 40499285 1317571 1279170 303593837 253351985 64628232 72351213 0 0 90282647 92201699 0 0 5301453 58758211 74992806 213669090 239545718 89924747 13806267 1291963279 1328407958 118910395 188431815 1173052884 1139976143 THE PRIMARY MISSION OF FURMAN AS A LIBERAL ARTS INSTITUTION IS TO PROVIDE A DISTINCTIVE EDUCATION IN FINE ARTS, HUMANITIES, SOCIAL SCIENCES, MATHEMATICS AND THE SCIENCES, AS WELL AS SELECTED PROFESSIONAL DISCIPLINES. 0 0 155126845 72351213 126408410 INSTRUCTION OF STUDENTS IN BOTH UNDERGRADUATE AND GRADUATE PROGRAMS. A PERSONALIZED FOUR YEAR PATHWAY FOR STUDENTS INSTITUTED BY THE FURMAN ADVANTAGE INCLUDES HIGH-IMPACT, ENGAGED LEARNING THROUGH RESEARCH, INTERNSHIPS, AND STUDY ABROAD PROGRAMS. SCHOLARSHIPS ARE AWARDED TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED AND ACADEMIC MERIT. 31063670 4126160 STUDENT SERVICES INCLUDES INTERCOLLEGIATE ATHLETICS, INTRAMURAL AND CLUB SPORTS, ENROLLMENT MANAGEMENT, STUDENT GOVERNMENT AND A LARGE VARIETY OF STUDENT ORGANIZATIONS, SERVICES AND ACTIVITIES. 23981518 35477235 THE UNIVERSITY CONDUCTED AUXILIARY ENTERPRISES FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF AND THE AT-LARGE COMMUNITY. THESE AUXILIARY ENTERPRISES INCLUDE STUDENT HOUSING, DINING SERVICES, GOLF COURSE, SPORTS ARENA AND CONFERENCE CENTER. 210172033 1 1 0 0 0 1 0 1 1 1 1 1 0 1 1 1 0 1 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 3186 0 1 2365 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 SC X X AMY ECKLUND 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 P EDWIN GOOD CHAIR 2.00 0.00 X X 0 0 0 KEVIN T BYRNE VICE CHAIR 2.00 0.00 X X 0 0 0 SUSAN T SHI SECRETARY 2.00 0.00 X X 0 0 0 CHARLES AMBROSE TRUSTEE 2.00 0.00 X 0 0 0 KEVIN R BRYANT TRUSTEE 2.00 0.00 X 0 0 0 CHRISTINA NEWSON BRYON TRUSTEE 2.00 0.00 X 0 0 0 JOLLEY BRUCE CHRISTMAN TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN BAUCOM DAVIES TRUSTEE 2.00 0.00 X 0 0 0 CYNTHIA DAVIS TRUSTEE 2.00 0.00 X 0 0 0 LEE C DILWORTH TRUSTEE 2.00 0.00 X 0 0 0 JOHNNA FRIERSON TRUSTEE 2.00 0.00 X 0 0 0 DAVID L HAUSER TRUSTEE 2.00 0.00 X 0 0 0 ROBERT E HILL JR TRUSTEE 2.00 0.00 X 0 0 0 YENDELELA NEELY HOLSTON TRUSTEE 2.00 0.00 X 0 0 0 JAMES A LANIER JR TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY WILTON MCDADE TRUSTEE 2.00 0.00 X 0 0 0 JASON W RICHARDS TRUSTEE 2.00 0.00 X 0 0 0 PAUL L ROBERTSON III TRUSTEE 2.00 0.00 X 0 0 0 A ALEXANDER TAYLOR II TRUSTEE 2.00 0.00 X 0 0 0 BRENDA THAMES TRUSTEE 2.00 0.00 X 0 0 0 RACHELLE HARLEY THOMPSON TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM BYRD TRAXLER JR TRUSTEE 2.00 0.00 X 0 0 0 DAVID J TRONE TRUSTEE 2.00 0.00 X 0 0 0 C KEMMONS WILSON III TRUSTEE 2.00 0.00 X 0 0 0 MATTHEW WALLS WILSON TRUSTEE 2.00 0.00 X 0 0 0 RICHARD N WRENN JR TRUSTEE 2.00 1.00 X 0 0 0 JOHN C YATES TRUSTEE 2.00 0.00 X 0 0 0 DR ELIZABETH DAVIS PRESIDENT 40.00 0.00 X 497848 0 34887 MICHAEL HENDRICKS VP ENROLLMENT MANAGEMENT 40.00 0.00 X 279774 0 45751 DAVID P STEINOUR CHIEF INFORMATION OFFICER 40.00 0.00 X 269772 0 27397 HEIDI MCCRORY VP DEVELOPMENT 40.00 0.00 X 235445 0 47612 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 40.00 0.00 X 243481 0 42405 KENNETH PETERSON VP FOR ACADEMIC AFFAIRS & PROVOST 40.00 0.00 X 267133 0 31718 THOMAS E EVELYN II VP UNIVERSITY COMMUNICATIONS 40.00 0.00 X 236566 0 59815 SUSAN MADDUX VP FINANCE & ADMINISTRATION 40.00 2.00 X 271001 0 33362 CONNIE L CARSON VP STUDENT LIFE 40.00 0.00 X 213240 0 26912 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 40.00 0.00 X 247258 0 42160 JEFF REDDERSON AVP FACILITIES 40.00 0.00 X 166109 0 26533 JEREMY CASS DEAN OF FACULTY 40.00 0.00 X 180189 0 23030 ELIZABETH SEMAN CHIEF OF STAFF 40.00 0.00 X 150998 0 15404 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 40.00 0.00 X 378544 0 47741 CLAYTON HENDRIX MEN'S HEAD FOOTBALL COACH 40.00 0.00 X 272860 0 45838 RICHARD MEADE FORMER MEN'S HEAD LACROSSE COACH 0.00 0.00 X 261512 0 0 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 40.00 0.00 X 220704 0 35547 ANTHONY HERRERA CHIEF INNOVATION OFFICER 40.00 0.00 X 220863 0 36383 4613297 0 622495 130 0 1 0 COMPASS GROUP USA INC PO BOX 91337 CHICAGO IL 606931337 DINING SERVICES 7651209 THE HARPER CORPORATION 35 WEST COURT STREET SUITE 400 GREENVILLE SC 29601 CONSTRUCTION 1142216 PREMIER MEDICAL INC PO BOX 26897 GREENVILLE SC 29616 COVID-19 TESTING 934272 WORKDAY INC PO BOX 886106 LOS ANGELES CA 900886106 SOFTWARE SERVICES 926044 THE ELLIOTT GROUP INC 353 HOPKINS ROAD TOWNVILLE SC 29689 CONSTRUCTION 906702 46 15350 594189 8000268 37045150 1268692 45654957 TUITION AND FEES 611710 126408410 126408410 ROOM AND BOARD 611710 29303872 29303872 INTERCOLLEGIATE ATHLETICS 611710 4126160 4126160 OTHER AUXILIARY 611710 2849989 2842792 7197 3230142 3230142 165918573 5216384 -4119896 9336280 1889156 860591 1028565 1028565 93232 143177 792156 91010899 56625 55737314 47309 35273585 9316 35282901 35282901 86234 15350 36382 49852 49852 EMPLOYEE LEASE REVENUE 541900 200753 200753 200753 253351985 166004608 -3969522 45661942 364703 364703 71986510 71986510 4100363 1494644 2294434 311285 64977009 56431252 5748233 2797524 5288265 4455451 597165 235649 12944642 9164976 3374878 404788 4891420 4121102 552352 217966 443057 443057 98300 98300 2558625 2558625 10747693 7504896 2889061 353736 801987 569721 14581 217685 4028071 3674732 219294 134045 6330437 4787445 1374483 168509 2293311 940252 1353059 8269234 8044910 79687 144637 2162077 1699648 312592 149837 3927513 3815889 111624 15129541 13956217 1173324 744903 744903 MEAL PLAN EXPENSE 8246351 8246351 LIBRARY RESOURCES 1519893 1519893 UNIFORMS 1044702 914137 130565 REPAIRS & MAINTENANCE 898372 897895 477 5748739 4836506 746441 165792 239545718 210172033 24072232 5301453 19245381 10373591 16749341 16779783 66617675 70936998 3604289 4722804 248826 259932 1229884 2848057 497490616 243871436 258338890 253619180 110025276 113276472 632265667 589129363 19517 13327 183618533 266448451 1291963279 1328407958 10538063 7529806 6017843 5179449 98992162 172704590 15305 36348 3347022 2981622 118910395 188431815 X 394227541 375162216 778825343 764813927 1173052884 1139976143 1291963279 1328407958 X 13806267 -46291327 -591681 X 0 1 X 1 1 1 X 24479236 26194545 23276048 83565475 45654957 203170261 24479236 26194545 23276048 83565475 45654957 203170261 65986359 137183902 15778991 13052566 11613577 24156439 6008540 70610113 273780374 841056713 0.50110 0.47240 X SCHEDULE A, PART I THE UNIVERSITY IS CLASSIFIED AS A PUBLIC CHARITY, A SCHOOL, IN ACCORDANCE WITH SECTION 170(B)(1)(A)(II) OF THE INTERNAL REVENUE CODE. HOWEVER, THE UNIVERSITY HAS ELECTED TO FOLLOW THE "SPECIAL RULE" FOR REPORTING CONTRIBUTIONS ON SCHEDULE B WHICH PROVIDES THAT 501(C)(3) ORGANIZATIONS THAT SATISFY THE 33 1/3% SUPPORT TESTS OF SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) NEED ONLY DISCLOSE ON SCHEDULE B GIFTS FROM ANY ONE CONTRIBUTOR THAT TOTAL THE GREATER OF (1) $5,000 OR (2) 2% OF TOTAL CONTRIBUTIONS, GIFTS, GRANTS AND SIMILAR AMOUNTS RECEIVED. THEREFORE, THE UNIVERSITY HAS CHECKED SCHEDULE A, PART I, BOX 2 AND COMPLETED THE SUPPORT SCHEDULE IN PART II TO SUBSTANTIATE THAT IT MEETS THE PUBLIC SUPPORT TEST. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6 619961 378600 3269535 1 1 3721877 X X 0 0 1 X 838971215 10589857 -2461455 15279845 17230464 2303898 812285410 670014077 6299124 197145647 13733787 17925394 2828452 838971215 694271736 11819457 3561096 14361697 19951585 5324930 670014077 702854866 15062542 16900125 12533250 24647089 3365458 694271736 661046233 17843681 60328135 11371784 21673063 3318336 702854866 0.16150 0.60930 0.22920 1 1 1 36423751 36423751 346904628 145933575 200971053 82823746 75238955 7584791 31338491 22698906 8639585 253619180 939 F REAL ASSET FUNDS 74501412 F PRIVATE CAPITAL 177351677 F HEDGED STRATEGIES 105609346 F FIXED INCOME 38442229 F EQUITY SECURITIES 186212432 F REAL ESTATE 1111328 C PRIVATE CAPITAL 5900000 C 589129363 EQUITY INTEREST IN HOLLINGSWORTH FUNDS 186055200 FUNDS HELD IN TRUST FOR BOND ISSUED 72729194 FUNDS HELD IN TRUST BY OTHERS 5097744 CSV LIFE INSURANCE 1966727 DEPOSITS 307040 RIGHT OF USE ASSET 292546 266448451 GOVERNMENT ADVANCES FOR STUDENT LOANS 7397 ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 1060729 ASSET RETIREMENT OBLIGATION 1447054 LEASE OBLIGATIONS 466442 2981622 X PART III, LINE 4: THE UNIVERSITY HAS A COLLECTION OF DECORATIVE AND FINE ARTS MATERIALS THAT IS BOTH EXTENSIVE AND DIVERSE. COMPRISED OF OVER 2,500 ITEMS, MANY PIECES ARE DISPLAYED THROUGHOUT CAMPUS, WHILE OTHERS ARE PRESERVED. THE OBJECTS HAVE BEEN GENEROUSLY DONATED TO FURMAN. THEY CONNECT THE UNIVERSITY TO THE WIDER WORLD AND ARE GATEWAYS TO STUDYING MANY DIFFERENT TIME PERIODS, CULTURES AND DISCIPLINES. THE COLLECTION'S MAIN PURPOSES ARE PRESERVATION OF THE OBJECTS FOR FUTURE GENERATIONS, EDUCATIONAL OPPORTUNITIES AND EXHIBITS. PART IV, LINE 2B: AGENCY FUNDS ARE HELD TO PROVIDE BANKING ABILITY FOR SMALL STUDENT CLUBS. THE UNIVERSITY ALSO PROVIDES BANKING FOR PROFESSIONAL ORGANIZATIONS THAT ARE INDIRECTLY RELATED TO THE UNIVERSITY. EXAMPLE: SACUBO PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF MORE THAN 1,000 SEPARATE FUNDS ESTABLISHED OVER MANY YEARS FOR SCHOLARSHIPS, PROFESSORSHIPS, LECTURESHIPS, ACADEMIC PROGRAMS AND AWARDS, BUILDING MAINTENANCE, AND GENERAL INSTITUTIONAL SUPPORT. THE OVERALL FINANCIAL OBJECTIVE OF THE ENDOWMENT IS TO PRESERVE AND ENHANCE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER OF THE FUND IN PERPETUITY. THE BOARD OF TRUSTEES DESIGNATES ONLY A PORTION OF THE UNIVERSITY'S CUMULATIVE INVESTMENT RETURN FOR SUPPORT OF CURRENT OPERATIONS; THE REMAINDER IS RETAINED TO SUPPORT OPERATIONS OF FUTURE YEARS AND TO OFFSET POTENTIAL MARKET DECLINES. THE UNIVERSITY EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO MAINTAIN ITS PURCHASING POWER BY GROWING AT A RATE EQUAL TO OR GREATER THAN PLANNED PAYOUTS. ADDITIONAL REAL GROWTH WILL BE PROVIDED THROUGH NEW GIFTS AND ANY EXCESS INVESTMENT RETURNS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE UNIVERSITY'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE UNIVERSITY, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2022 AND 2021 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S NONDISCRIMINATION POLICY STATEMENT IS ACCESSIBLE ON ALL PAGES OF THE UNIVERSITY'S WEBSITE FOR PROSPECTIVE STUDENTS, EMPLOYMENT APPLICANTS AND THE GENERAL PUBLIC. ADDITIONALLY, THE NONDISCRIMINATION POLICY STATEMENT IS INCLUDED IN ALL BROCHURES, CATALOGS, NEWSPAPER ADVERTISEMENTS AND OTHER WRITTEN COMMUNICATION WITH THE PUBLIC RELATED TO STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS, AS WELL AS EMPLOYMENT. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY PARTICIPATES IN THE FEDERAL PELL GRANT PROGRAM, THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS PROGRAM, AND THE FEDERAL COLLEGE WORK STUDY PROGRAM. ADDITIONALLY, THE UNIVERSITY HAS RECEIVED A NUMBER OF GRANTS FROM THE NATIONAL SCIENCE FOUNDATION, THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SCIENCES, AND THE DEPARTMENT OF DEFENSE. THE UNIVERSITY ALSO RECEIVED GOVERNMENT GRANTS UNDER THE CARES ACT AS PART OF THE HIGHER EDUCATION EMERGENCY RELIEF FUND ADMINISTERED BY THE DEPARTMENT OF EDUCATION. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 129480403 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 7826556 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 23496918 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT RECRUITING 6968 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT RECRUITING 13931 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT RECRUITING 6966 SOUTH ASIA 0 0 PROGRAM SERVICES STUDENT RECRUITING 3483 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY AWAY 27200 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY AWAY 3415829 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY AWAY 150976 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES STUDY AWAY 82202 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY AWAY 159552 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY AWAY 59065 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES LAB SUPPLIES 3615 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 41915 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES HONORARIUM 1000 NORTH AMERICA 0 0 PROGRAM SERVICES LAB EQUIPMENT 32200 SOUTH AMERICA 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 1600 NORTH AMERICA 0 0 PROGRAM SERVICES STUDENT RECRUITING 10450 0 0 0 0 0 0 160862425 3958404 164820829 1 0 1 1 1 0 PART I, LINE 2: FURMAN UNIVERSITY IS NOT A GRANTMAKER AS REFERENCED IN LINE 1. FURMAN UNIVERSITY PROVIDES FUNDING TO FACULTY AND TO STUDENTS FOR RESEARCH AND OTHER PROJECTS. EXPENSES MUST TO SUBSTANTIATED UNDER THE ACCOUNTABLE PLAN TO ENSURE PROPER USE OF FUNDS. PART I, LINE 3: EXPENDITURES ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE VALUE OF INVESTMENTS IS BASED ON THE FMV AT THE END OF THE FISCAL YEAR. PART III ACCOUNTING METHOD: VINCE PERONE CLASSIC GOLF TOURNAMEN 61188 5425 55763 3736 1590 6650 6126 312 HOOPS AND HEALS BASKETBALL TOURNAME 22125 5575 16550 9836 589 3613 1 18271 4350 13921 327 2785 312 506 101584 15350 86234 4063 14211 7551 6126 4431 36382 49852 1 UPCOUNTRY HISTORY MUSEUM 340 BUNCOMBE STREET GREENVILLE SC 29601 570833796 501(C)(3) 100000 0 OPERATING SUPPORT GREENVILLE ARENA DISTRICT 650 NORTH ACADEMY STREET GREENVILLE SC 29601 576007739 75000 0 SPONSORSHIP THE GREENVILLE DRIVE LLC 945 S MAIN STREET GREENVILLE SC 29601 043672609 50000 0 SPONSORSHIP EMPIRE MOCK TRIAL ASSOCIATION INC 655 15TH STREET NW SUITE 800 WASHINGTON DC 20005 260150254 501(C)(3) 30000 0 SPONSORSHIP M JUDSON BOOKSELLERS 130 S MAIN STREET GREENVILLE SC 29601 471792713 25000 0 SPONSORSHIP VENTURE CAROLINA 1207 MAIN STREET NEWBERRY SC 29108 464531249 501(C)(3) 10000 0 SPONSORSHIP UPSTATE SC ALLIANCE INC 3 RESEARCH DRIVE SUITE 230 GREENVILLE SC 29607 571095229 501(C)(6) 10000 0 SPONSORSHIP GREENVILLE ARTS FESTIVAL 101B AUGUSTA STREET GREENVILLE SC 29601 582676608 501(C)(3) 10000 0 SPONSORSHIP FALL FOR GREENVILLE 206 S MAIN STREET GREENVILLE SC 29601 570876594 501(C)(3) 7500 0 SPONSORSHIP SOUTH CAROLINA CHARITIES 104 S MAIN STREET SUITE 110 GREENVILLE SC 29601 571110542 501(C)(3) 6000 0 SPONSORSHIP 7 3 UNDERGRADUATE SCHOLARSHIPS 1769 55652755 ATHLETIC SCHOLARSHIPS 440 12633797 HEERF STUDENT AID GRANTS 2494 1623416 FELLOWSHIPS AND INTERNSHIPS 205 1197950 OTHER STUDENT STIPENDS 150 530380 GRADUATE SCHOLARSHIPS 50 257612 GRADUATE STIPENDS 13 90600 PART I, LINE 2: FURMAN PROVIDES SCHOLARSHIPS AND FINANCIAL AID TO INDIVIDUALS IN THE UNITED STATES TO ATTEND THE UNIVERSITY. THE SCHOLARSHIPS AND AID FOR SUCH STUDENTS ARE AWARDED BASED ON NEED AND MERIT AND COVER THE COSTS OF TUITION, ROOM AND BOARD. THE SCHOLARSHIP AND/OR FINANCIAL AID IS AWARDED BASED ON INSTITUTIONAL POLICY AND STANDARDS SET FORTH BY THE DEPARTMENT OF EDUCATION AND THE STATE OF SOUTH CAROLINA. THE UNIVERSITY'S FINANCIAL AID DEPARTMENT MONITORS THE COMPLIANCE WITH SUCH REGULATIONS. THE SCHOLARSHIP AND/OR FINANCIAL AID IS APPLIED BY THE FINANCIAL AID DEPARTMENT DIRECTLY AGAINST THE STUDENT'S ACCOUNT WITH THE UNIVERSITY AS A REDUCTION IN FEES. AS A RESULT, THE GRANT CAN ONLY BE USED FOR ITS INTENDED PURPOSE (I.E. COST OF ATTENDANCE) AND CANNOT BE DIVERTED FROM THIS USE. OTHER TYPES OF GRANTS PROVIDED CONSIST OF RESEARCH, INTERNSHIP OR FELLOWSHIP GRANTS TO STUDENTS. SUCH GRANTS ARE GIVEN AND MONITORED BY THE ACADEMIC DEPARTMENT GIVING THE GRANT OR THE UNDERGRADUATE RESEARCH AND INTERNSHIP DEPARTMENT. IN FY22, THE UNIVERSITY ALSO DISTRIBUTED FUNDS UNDER THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF"). THE UNIVERSITY AWARDED AN AUTOMATIC PAYMENT OF $400 TO ALL ELIGIBLE STUDENTS. FURMAN UNIVERSITY STUDENTS WHO MET ELIGIBILITY REQUIREMENTS BUT WISHED TO REQUEST ADDITIONAL FUNDS ABOVE THE AUTOMATIC PAYMENT, APPLIED FOR HEERF ASSISTANCE THROUGH THE STUDENT EMERGENCY FUND APPLICATION PROCESS IF THEY HAD RELEVANT, DOCUMENTED, AND UNREIMBURSED EXPENSES DUE TO COVID-19. SPONSORSHIPS PAID TO ORGANIZATIONS ARE MADE UNDER WRITTEN AGREEMENTS BETWEEN THE PARTIES AND SUPPORT COMMUNITY EVENTS AND PROVIDE A PRESENCE FOR FURMAN IN THE AREA. COMMUNITY ENGAGEMENT IS A SIGNIFICANT ASPECT OF THE FURMAN ADVANTAGE. THESE SPONSORSHIPS WITH GREENVILLE BUSINESSES THEREFORE SERVE TO ADVANCE THE FURMAN ADVANTAGE FOR OUR STUDENTS AND THE COMMUNITY. X X X 1 1 X X X 1 0 0 0 0 0 0 1 0 DR ELIZABETH DAVIS PRESIDENT 477172 0 0 0 20676 0 29000 0 5887 0 532735 0 0 0 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 327356 0 50000 0 1188 0 29000 0 18741 0 426285 0 0 0 MICHAEL HENDRICKS VP ENROLLMENT MANAGEMENT 259092 0 0 0 20682 0 28257 0 17494 0 325525 0 0 0 CLAYTON HENDRIX MEN'S HEAD FOOTBALL COACH 268978 0 0 0 3882 0 27036 0 18802 0 318698 0 0 0 SUSAN MADDUX VP FINANCE & ADMINISTRATION 266452 0 0 0 4549 0 27150 0 6212 0 304363 0 0 0 KENNETH PETERSON VP FOR ACADEMIC AFFAIRS & PROVOST 235357 0 7500 0 24276 0 26125 0 5593 0 298851 0 0 0 DAVID P STEINOUR CHIEF INFORMATION OFFICER 247854 0 0 0 21918 0 26716 0 681 0 297169 0 0 0 THOMAS E EVELYN II VP UNIVERSITY COMMUNICATIONS 204903 0 7500 0 24163 0 23756 0 36059 0 296381 0 0 0 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 189098 0 51919 0 6241 0 25324 0 16836 0 289418 0 0 0 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 231252 0 3500 0 8729 0 23750 0 18655 0 285886 0 0 0 HEIDI MCCRORY VP DEVELOPMENT 234295 0 0 0 1150 0 24179 0 23433 0 283057 0 0 0 RICHARD MEADE FORMER MEN'S HEAD LACROSSE COACH 0 0 0 0 261512 0 0 0 0 0 261512 0 0 0 ANTHONY HERRERA CHIEF INNOVATION OFFICER 182152 0 30000 0 8711 0 19750 0 16633 0 257246 0 0 0 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 212583 0 0 0 8121 0 18789 0 16758 0 256251 0 0 0 CONNIE L CARSON VP STUDENT LIFE 204734 0 7500 0 1006 0 20540 0 6372 0 240152 0 0 0 JEREMY CASS DEAN OF FACULTY 170918 0 0 0 9271 0 17654 0 5376 0 203219 0 0 0 JEFF REDDERSON AVP FACILITIES 140607 0 25502 0 0 0 17324 0 9209 0 192642 0 0 0 ELIZABETH SEMAN CHIEF OF STAFF 149428 0 0 0 1570 0 15051 0 353 0 166402 0 0 0 PART I, LINE 1A A COMPANION HAS TRAVELED WITH BOTH THE PRESIDENT, ELIZABETH DAVIS, AND THE MEN'S BASKETBALL COACH, ROBERT RICHEY. TO THE EXTENT THE TRAVEL WAS PERSONAL IN NATURE SUCH AMOUNTS WERE INCLUDED IN TAXABLE INCOME. THE PRESIDENT OF THE UNIVERSITY AND HER FAMILY RESIDE AT WHITE OAKS WHICH IS THE OFFICIAL RESIDENCE OF THE PRESIDENT. THE PRESIDENT IS REQUIRED TO LIVE AT WHITE OAKS AS A CONDITION TO HER EMPLOYMENT. THE RESIDENCE IS OWNED AND MAINTAINED BY THE UNIVERSITY. CLEANING, MAINTENANCE, AND GROUNDSKEEPING SERVICES ARE PROVIDED BY THE UNIVERSITY FOR THE PUBLIC AREAS OF THE RESIDENCE ONLY. THE PRESIDENT HOSTS UNIVERSITY EVENTS AT WHITE OAKS AS WELL. ELIZABETH DAVIS WAS PROVIDED WITH A CLUB MEMBERSHIP. TO THE EXTENT THE DUES WERE CONSIDERED PERSONAL, THE AMOUNTS WERE INCLUDED IN TAXABLE INCOME OR REIMBURSED TO THE UNIVERSITY. OTHERWISE, THE DUES ALLOW HER TO MEET WITH DONORS AND OTHER SUPPORTERS OF THE UNIVERSITY AT THE CLUB. FURMAN POLICY GOVERNS THE NATURE AND TYPE OF ALLOWABLE EXPENDITURES AND PAYMENTS, INCLUDING REQUIREMENTS TO PROVIDE SUPPORTING DOCUMENTATION DETAILING THE TRANSACTION AND BUSINESS PURPOSE OF ANY APPROVED EXPENDITURE. PART I, LINE 4A THE UNIVERSITY HAS A SEVERANCE AGREEMENT WITH RICHARD MEADE. AS PART OF THE SEVERANCE AGREEMENT, MEADE WAS PAID $261,512 DURING FY22. THE AGREEMENT IS TO PAY HIM HIS REGULAR SALARY OF $261,512 FOR THREE YEARS ENDING JUNE 30, 2023. PART I, LINE 7 THE BONUSES RECEIVED BY CERTAIN OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES WERE PAYMENTS FOR MERIT AND NOT CONTINGENT ON THE REVENUE OR NET EARNINGS OF THE UNIVERSITY OR ANY RELATED ORGANIZATION. A SC JOBS - ECONOMIC DEV AUTHORITY 570960018 837031ULS 2015-08-13 68432003 REFUNDING AND CAPITAL 0 0 0 B SC JOBS - ECONOMIC DEV AUTHORITY 570960018 000000000 2021-09-22 35830000 REFUNDING 2006B AND 2010 BOND ISSUES 0 0 0 C SC JOBS - ECONOMIC DEV AUTHORITY 570960018 837031D42 2022-01-26 76277862 CAPITAL 0 0 0 A 2660000 68432003 659117 25001055 42771831 2017 0 1 1 1 B 1915000 35830000 219844 35610156 2012 1 1 1 1 C 76297393 479628 588703 2499868 72729194 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEV. AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2018 SCHEDULE K, PART II, LINE 3, COL C: THE AMOUNT SHOWN AS TOTAL PROCEEDS OF ISSUE IN PART II IS HIGHER THAN THE AMOUNT IN PART I DUE TO INVESTMENT EARNINGS ON UNSPENT FUNDS. NA N/A 10000 DISCOUNTED TUITION EDUCATION X 15049 COST X 49 1245093 MARKET VALUE X MUSICAL INSTRUMENT - HARP 1 3235 FMV X UNIVERSITY GUESTS & ENTERAINMENT 2 2292 COST X POSTAGE FOR UNIVERSITY ADMISSIONS MAILER 1 1750 COST X TRAVEL COSTS 1 1273 COST 0 0 1 0 PART I, COLUMN (B): FURMAN UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED OF EACH TYPE IN ACCORDANCE WITH THE UNIVERSITY'S RECORDKEEPING PRACTICES. FORM 990, PART VI, SECTION B, LINE 11B THE UNIVERSITY'S AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWED THE PREPARED FORM 990 PRIOR TO FILING WITH THE IRS. SPECIFIC ISSUES AND/OR QUESTIONS THAT AROSE DURING THE REVIEW PROCESS WERE ADDRESSED. THE PUBLIC DISCLOSURE COPY OF FORM 990 WAS PROVIDED TO THE REMAINING VOTING MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY FOR THE BOARD OF TRUSTEES IS INCLUDED IN SECTION 9 OF THE FURMAN UNIVERSITY BY-LAWS. EACH MEMBER OF THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM AT THE FIRST MEETING OF EACH ACADEMIC YEAR. EACH TRUSTEE SHALL DISCLOSE TO THE BOARD CHAIR ANY ADDITIONAL POTENTIAL CONFLICTS OF INTEREST AT THE EARLIEST PRACTICAL TIME. ADDITIONALLY, THE UNIVERSITY HAS A CONFLICT OF INTEREST POLICY FOR EMPLOYEES WITH EXECUTIVE OR ADMINISTRATIVE RESPONSIBILITIES AS THE UNIVERSITY RECOGNIZES THAT SUCH EMPLOYEES HAVE A DUTY OF LOYALTY AND FIDELITY IN CARRYING OUT THEIR RESPONSIBILITIES. THIS POLICY APPLIES TO THOSE EMPLOYEES DESIGNATED BY THE PRESIDENT AS HAVING EXECUTIVE OR ADMINISTRATIVE RESPONSIBILITIES. EACH SUCH EMPLOYEE IS REQUIRED, AT LEAST ANNUALLY, TO COMPLETE THE QUESTIONNAIRE. THIS QUESTIONNAIRE REQUIRES DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST AND IS ADMINISTERED BY THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT IS DETERMINED AND APPROVED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE PRESIDENT'S EMPLOYMENT IS GUIDED BY A WRITTEN EMPLOYMENT CONTRACT SIGNED BY BOTH PARTIES. EXECUTIVE COMMITTEE MEETINGS ARE DOCUMENTED. FOR OTHER OFFICERS OF THE UNIVERSITY, A COMPENSATION COMPARABILITY STUDY IS DONE DURING THE SEARCH PROCESS. SUBSEQUENT YEARS' SALARY INCREASES ARE BASED ON THE UNIVERSITY'S STANDARD COMPENSATION ADJUSTMENT POOL FOR THE FISCAL YEAR AS APPROVED BY THE BOARD OF TRUSTEES DURING THE ANNUAL BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 FURMAN UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. ADDITIONALLY, THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS CAN BE FOUND ON THE FURMAN WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -698,638. CHANGE IN CSV LIFE INSURANCE 106,957. FURMAN UNIVERSITY FOUNDATION 3300 POINSETT HIGHWAY GREENVILLE SC 29613 571061363 FOUNDATION SC 501(C)(3) LINE 12C, III-FI N/A 0 HOLLINGSWORTH FUNDS INC 124 VERDAE BOULEVARD GREENVILLE SC 29607 571003814 CHARITABLE SC 501(C)(3) LINE 12A, I N/A 0 CHARITABLE REMAINDER UNITRUSTS (6) SPLIT INTEREST SC N/A T 0 CHARITABLE REMAINDER ANNUITY TRUST SPLIT INTEREST SC N/A T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE R, PART II HOLLINGSWORTH FUNDS, INC. IS A TAX EXEMPT SUPPORTING ORGANIZATION UNDER SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE WHOSE PURPOSE IS TO SUPPORT FURMAN UNIVERSITY AND OTHER GREENVILLE, SC BASED CHARITIES. FOR THE YEAR ENDED JUNE 30, 2022, INCOME DISTRIBUTIONS FROM THE HOLLINGSWORTH FUNDS, WHICH ARE REPORTED AS INVESTMENT RETURNS, WERE $4,495,645 AND PROVIDED FUNDING FOR THE HOLLINGSWORTH SCHOLARS PROGRAM, TWO ENDOWED PROFESSORSHIPS IN THE DEPARTMENTS OF ECONOMICS AND BUSINESS AND ACCOUNTING, AND SPECIFIC NEEDS OF THOSE TWO DEPARTMENTS. FURMAN UNIVERSITY FOUNDATION (FUF) OPERATES AS A NONPROFIT PUBLIC BENEFIT CORPORATION TO SERVE THE NEEDS AND INTERESTS OF FURMAN UNIVERSITY.