2025-05-13T22:32:34-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 2001 16TH STREET SUITE 1700 DENVER CO 80202 990 2023-07-01 570314395 FURMAN UNIVERSITY FURM 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 SUSAN MADDUX VP FOR FINANCE & ADMINISTRATION 8642943496 2025-04-29 1 1 SARAH HINTZ P00492291 3037795710 2025-05-12 2023 2025-03-06 01:10:19Z SUSAN MADDUX 3300 POINSETT HIGHWAY GREENVILLE SC 29613 555625795 0 X WWW.FURMAN.EDU X 1826 SC FURMAN UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING DISTINCTIVE UNDERGRADUATE EDUCATION EMPHASIZING AN ENGAGED APPROACH COMBINING CLASSROOM LEARNING WITH REAL WORLD EXPERIENCES AND SELF-DISCOVERY. 31 31 2444 31 3351665 897052 28517280 43802648 172953629 184035811 21160870 60117373 562619 927751 223194398 288883583 78073353 85801841 0 0 88202380 92832745 0 0 5754782 89797408 91498301 256073141 270132887 -32878743 18750696 1280396314 1399667880 186472531 269319882 1093923783 1130347998 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 174904464 85801841 138366014 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. 37885963 0 4302978 STUDENT SERVICES INCLUDES INTERCOLLEGIATE ATHLETICS, INTRAMURAL AND CLUB SPORTS, ENROLLMENT MANAGEMENT, STUDENT GOVERNMENT AND A LARGE VARIETY OF STUDENT ORGANIZATIONS, SERVICES AND ACTIVITIES. 27885189 0 40958869 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. 240675616 1 1 0 0 0 1 0 1 1 1 1 1 0 1 1 1 0 1 1 0 1 1 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 2636 0 1 2444 1 1 1 0 0 0 0 1 1 0 0 0 1 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 SC X X DAWN DURHAM 8642942000 3300 POINSETT HIGHWAY GREENVILLE SC 29613 KEVIN T BYRNE CHAIR 2.00 0.00 X X 0 0 0 ROBERT E HILL JR VICE CHAIR 2.00 0.00 X X 0 0 0 CHRISTINA NEWSOM BYRON SECRETARY 2.00 0.00 X X 0 0 0 CHARLES AMBROSE TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN BAUCOM DAVIES TRUSTEE 2.00 0.00 X 0 0 0 JOLLEY BRUCE CHRISTMAN TRUSTEE 2.00 0.00 X 0 0 0 KEVIN R BRYANT TRUSTEE 2.00 0.00 X 0 0 0 THOMAS CULLEN TRUSTEE 2.00 0.00 X 0 0 0 CYNTHIA DAVIS TRUSTEE 2.00 0.00 X 0 0 0 LEE C DILLWORTH TRUSTEE 2.00 0.00 X 0 0 0 FRANCES ELLISON TRUSTEE 2.00 0.00 X 0 0 0 JOHANNA FRIERSON TRUSTEE 2.00 0.00 X 0 0 0 DAVID L HAUSER TRUSTEE 2.00 0.00 X 0 0 0 MARK KAISER TRUSTEE 2.00 0.00 X 0 0 0 RAYMOND KING TRUSTEE 2.00 0.00 X 0 0 0 JAMES A LANIER JR TRUSTEE 2.00 0.00 X 0 0 0 DAVID LAXER TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY WILTON MCDADE TRUSTEE 2.00 0.00 X 0 0 0 TRACI MILLER TRUSTEE 2.00 0.00 X 0 0 0 YENDELELA NEELY HOLSTON TRUSTEE 2.00 0.00 X 0 0 0 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 BETH TAYLOR TRUSTEE 2.00 0.00 X 0 0 0 A ALEXANDER TAYLOR II TRUSTEE 2.00 0.00 X 0 0 0 BRENDA J THAMES TRUSTEE 2.00 0.00 X 0 0 0 LIZANNE THOMAS TRUSTEE 2.00 0.00 X 0 0 0 RACHELLE HARLEY THOMPSON TRUSTEE 2.00 0.00 X 0 0 0 SUSAN THOMSON SHI TRUSTEE 2.00 0.00 X 0 0 0 MATTHEW WALLIS WILSON TRUSTEE 2.00 0.00 X 0 0 0 C KEMMONS W WILSON III TRUSTEE 2.00 0.00 X 0 0 0 RICHARD N WRENN JR TRUSTEE 2.00 2.00 X 0 0 0 DR ELIZABETH DAVIS PRESIDENT 40.00 0.00 X 622355 0 42752 SUSAN MADDUX VP FOR FINANCE & ADMINISTRATION 40.00 2.00 X 406909 0 47010 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 40.00 0.00 X 304486 0 59817 THOMAS E EVELYN II VP FOR UNIVERSITY COMMUNICATIONS 40.00 0.00 X 297040 0 61696 BETH PONTARI ACADEMIC AFFAIRS & PROVOST 40.00 0.00 X 265647 0 54417 HEIDI MCCRORY VP FOR DEVELOPMENT 40.00 0.00 X 263745 0 50011 CONNIE L CARSON VP FOR STUDENT LIFE 40.00 0.00 X 266141 0 37545 EMILY SCHUCK VP OF ENROLLMENT MANAGEMENT 40.00 0.00 X 139585 0 31547 ROBERT KENNEY CHIEF INVESTMENT OFFICER 40.00 0.00 X 292226 0 61411 MEREDITH GREEN GENERAL COUNSEL 40.00 0.00 X 191151 0 45311 JEREMY CASS DEAN OF FACULTY 40.00 0.00 X 204318 0 22306 JEFF REDDERSON ASSOCIATE VP FOR FACILITIES 40.00 0.00 X 177222 0 49829 ELIZABETH SEMAN CHIEF OF STAFF 40.00 0.00 X 184222 0 19934 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 40.00 0.00 X 645722 0 60856 CLAYTON HENDRIX HEAD FOOTBALL COACH 40.00 0.00 X 321204 0 60089 DANNY TANG CHIEF INFORMATION OFFICER 40.00 0.00 X 232953 0 54590 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 40.00 0.00 X 206657 0 53321 DON GORDON RILEY INSTITUTE FOUNDING DIRECTOR 40.00 0.00 X 191940 0 30363 5213523 0 842805 132 0 1 0 TRIANGLE CONSTRUCTION CO 2624 LAURENS RD GREENVILE SC 29607 CONSTRUCTION 17186499 THE HARPER CORPORATION 35 WEST COURT STREET STE 400 GREENVILLE SC 29601 CONSTRUCTION 11992836 COMPASS GROUP USA INC 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 10549310 BETSCH ASSOCIATES INC 101 NORTH MAIN STREET STE 808 GREENVILLE SC 29601 ARCHITECTS 1375352 JD LANE CONSTRUCTION LLC PO BOX 38 TIGERVILLE SC 29688 CONSTRUCTION 884358 58 17470 329917 3494772 39960489 3392010 43802648 TUITION AND FEES 611710 138366014 138366014 ROOM AND BOARD 611710 32806941 32806941 INTERCOLLEGIATE ATHLETICS 611710 4302978 4302978 OTHER AUXILIARY 611710 3811854 3791257 20597 4748024 4748024 184035811 16285764 2787294 13498470 2485841 1710155 775686 775686 -387353 551169 611870 308721318 80918 264917939 52688 43803379 28230 43831609 -7395 43839004 96080 17470 61430 34650 34650 EMPLOYEE LEASE REVENUE 541900 117415 117415 117415 288883583 183627861 3351665 58101409 318717 318717 85473124 85473124 10000 10000 3755201 1277234 2202159 275808 65647678 56902545 5769084 2976049 5725738 4799832 657628 268278 12394808 9992180 1981791 420837 5309320 4450753 609800 248767 31519 31519 391352 391352 189627 189627 2302430 2302430 7700766 5433386 2094995 172385 952191 613390 37605 301196 3393544 2960245 339650 93649 6901968 4577600 2046403 277965 1846612 171059 1675553 9369856 9019159 174050 176647 3303345 2652772 400984 249589 4735540 5853819 -1118279 14310742 13347732 963010 MEAL PLAN EXPENSES 9260225 9260225 LIBRARY RESOURCES 1939177 1939177 UNIFORMS 1094449 1093000 1449 REPAIRS & MAINTENANCE 955230 937916 17314 22819728 19591751 2934365 293612 270132887 240675616 23702489 5754782 6724912 11018088 4567303 622895 54604859 39651582 4321177 4917912 265982 296850 2483287 1824709 562797602 250740931 261811973 312056671 134671602 146484487 574540966 609913464 12711 236391542 272881222 1280396314 1399667880 8318882 14278920 4823082 6538775 170521981 245872855 35605 32906 2772981 2596426 186472531 269319882 X 364312147 366512182 729611636 763835816 1093923783 1130347998 1280396314 1399667880 X 18750696 17879568 -206049 X X 0 1 X 1 1 1 X 23276048 83565475 45654957 28517280 43795238 224808998 23276048 83565475 45654957 28517280 43795238 224808998 67315068 157493930 11613577 24156439 6008540 18537555 14570669 74886780 51117 1145948 1197065 117415 117415 301010258 846333938 0.52320 0.49190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6 238294 450425 3014518 1 1 0 3749468 0 0 X X 0 0 1 X 787489549 10537688 68490492 17144041 19332643 2302429 827738616 812285408 12814106 2074962 17535644 19774237 2375046 787489549 838971213 10589857 -2461455 15279845 17230464 2303898 812285408 670014075 6299124 197145647 13733787 17925394 2828452 838971213 694271736 11819457 3561094 14361697 19951585 5324930 670014075 0.15778 0.62921 0.21302 1 1 1 38741007 38741007 423016742 163623938 259392804 85330512 79201417 6129095 15709341 7915576 7793765 312056671 PRIVATE CAPITAL 4291495 C REAL ESTATE 902658 C CLOSELY HELD EQUITY INTERESTS 10 F EQUITY SECURITIES 221173724 F FIXED INCOME 23940817 F HEDGED STRATEGIES 128905380 F PRIVATE CAPITAL 153954561 F PRIVATE CREDIT 12010609 F REAL ESTATE FUNDS 64734210 F 609913464 CSV LIFE INSURANCE 2119903 RIGHT OF USE ASSET 151519 EQUITY INTEREST IN HOLLINGSWORTH 176189790 FUNDS HELD IN TRUST FOR BOND ISSUED 88644209 FUNDS HELD IN TRUST BY OTHERS 5775801 272881222 ASSET RETIREMENT OBLIGATION 1447054 LEASE OBLIGATIONS 156718 SPLIT INTEREST AGREEMENTS 992654 2596426 X 224107365 17876725 -82122098 -64245373 288352738 2302430 -1771585 530845 288883583 186307922 1771585 1771585 184536337 2302430 83294120 85596550 270132887 PART III, LINE 4: THE UNIVERSITY HAS A COLLECTION OF DECORATIVE AND FINE ARTS MATERIALS THAT IS BOTH EXTENSIVE AND DIVERSE. COMPRISED OF OVER 2,500 ITEMS, MANY PIECES ARE DISPLAYED THROUGHOUT CAMPUS, WHILE OTHERS ARE PRESERVED. THE OBJECTS HAVE BEEN GENEROUSLY DONATED TO FURMAN. THEY CONNECT THE UNIVERSITY TO THE WIDER WORLD AND ARE GATEWAYS TO STUDYING MANY DIFFERENT TIME PERIODS, CULTURES AND DISCIPLINES. THE COLLECTION'S MAIN PURPOSES ARE PRESERVATION OF THE OBJECTS FOR FUTURE GENERATIONS, EDUCATIONAL OPPORTUNITIES AND EXHIBITS. PART IV, LINE 2B: AGENCY FUNDS ARE HELD TO PROVIDE BANKING ABILITY FOR SMALL STUDENT CLUBS. THE UNIVERSITY ALSO PROVIDES BANKING FOR PROFESSIONAL ORGANIZATIONS THAT ARE INDIRECTLY RELATED TO THE UNIVERSITY. EXAMPLE: SACUBO PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF MORE THAN 1,000 SEPARATE FUNDS ESTABLISHED OVER MANY YEARS FOR SCHOLARSHIPS, PROFESSORSHIPS, LECTURESHIPS, ACADEMIC PROGRAMS AND AWARDS, BUILDING MAINTENANCE, AND GENERAL INSTITUTIONAL SUPPORT. THE OVERALL FINANCIAL OBJECTIVE OF THE ENDOWMENT IS TO PRESERVE AND ENHANCE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER OF THE FUND IN PERPETUITY. THE BOARD OF TRUSTEES DESIGNATES ONLY A PORTION OF THE UNIVERSITY'S CUMULATIVE INVESTMENT RETURN FOR SUPPORT OF CURRENT OPERATIONS; THE REMAINDER IS RETAINED TO SUPPORT OPERATIONS OF FUTURE YEARS AND TO OFFSET POTENTIAL MARKET DECLINES. THE UNIVERSITY EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO MAINTAIN ITS PURCHASING POWER BY GROWING AT A RATE EQUAL TO OR GREATER THAN PLANNED PAYOUTS. ADDITIONAL REAL GROWTH WILL BE PROVIDED THROUGH NEW GIFTS AND ANY EXCESS INVESTMENT RETURNS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, CERTAIN INCOME UNRELATED TO ITS EXEMPT FUNCTION IS SUBJECT TO INCOME TAXATION. 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, 2024 AND 2023 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION NET INCOME INCLUDED IN CONSOLIDATED REVENUE 1,383,537. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 387,378. CHANGE IN CSV LIFE INSURANCE 101,255. OTHER -373,074. FINANCIAL AID NET WITH REVENUE -83,294,120. CONTRIBUTION FROM THE FOUNDATION -329,917. FOUNDATION UNREALIZED LOSS 2,843. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -61,430. RENTAL EXPENSES -1,710,155. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,710,155. FUNDRAISING EXPENSES 61,430. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NET WITH REVENUE 83,294,120. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S NONDISCRIMINATION POLICY STATEMENT IS ACCESSIBLE ON ALL PAGES OF THE UNIVERSITY'S WEBSITE FOR PROSPECTIVE STUDENTS, EMPLOYMENT APPLICANTS AND THE GENERAL PUBLIC. ADDITIONALLY, THE NONDISCRIMINATION POLICY STATEMENT IS INCLUDED IN ALL BROCHURES, CATALOGS, NEWSPAPER ADVERTISEMENTS AND OTHER WRITTEN COMMUNICATION WITH THE PUBLIC RELATED TO STUDENT ADMISSIONS, PROGRAM AND SCHOLARSHIPS, AS WELL AS EMPLOYMENT. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY PARTICIPATES IN THE FEDERAL PELL GRANT PROGRAM, THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS PROGRAM, AND THE FEDERAL COLLEGE WORK STUDY PROGRAM. ADDITIONALLY, THE UNIVERSITY HAS RECEIVED A NUMBER OF GRANTS FROM THE NATIONAL SCIENCE FOUNDATION, THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SCIENCES, AND THE DEPARTMENT OF DEFENSE. 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 172909736 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 4340534 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 69014630 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT RECRUITING 46159 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT RECRUITING 34619 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 629239 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 2906782 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 111996 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 74025 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES MATERIALS AND SUPPLIES 11190 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES PROFESSIONAL FEES 14402 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STREAMING SUBSCRIPTION FEES 5500 SOUTH AMERICA 0 0 PROGRAM SERVICES PROFESSIONAL FEES 7065 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 SPONSORSHIP 10000 0 0 0 0 0 0 249993695 122182 250115877 EUROPE (INCLUDING ICELAND & GREENLAND) N/A 10000 N/A 0 N/A 0 1 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 STUDENTS FOR RESEARCH AND OTHER PROJECTS. EXPENSES MUST BE SUBSTANTIATED UNDER THE ACCOUNTABLE PLAN TO ENSURE PROPER USE OF FUNDS. PART I, LINE 3: EXPENDITURES ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE VALUE OF INVESTMENTS IS BASED ON THE FMV AT THE END OF THE FISCAL YEAR. VINCE PERONE CLASSIC 62280 9560 52720 6237 11758 7462 PLADIN CLASSIC 43860 500 43360 8624 10100 13569 1 7410 7410 1681 252 1747 113550 17470 96080 16542 22110 22778 61430 34650 1 UPSTATE SC ALLIANCE INC 3 RESEARCH DRIVE SUITE 230 GREENVILLE SC 29607 571095229 501(C)(6) 0 5500 0 N/A SPONSORSHIP FALL FOR GREENVILLE 206 S MAIN STREET GREENVILLE SC 29601 570876594 501(C)(3) 0 7500 0 N/A SPONSORSHIP GREENVILLE ARTS FESTIVAL 101B AUGUST STREET GREENVILLE SC 29601 582676608 501(C)(3) 0 10000 0 N/A SPONSORSHIP OUR UPSTATE SC 150 EXECUTIVE CENTER DRIVE SUITE 202 GREENVILLE SC 29615 451842000 501(C)(3) 0 10000 0 N/A SPONSORSHIP VENTURESOUTH CAPITAL LLC PO BOX 26076 GREENVILLE SC 29616 810946559 0 10000 0 N/A SPONSORSHIP EMPIRE MOCK TRIAL ASSOCIATION INC 655 15TH STREET NW SUITE 800 WASHINGTON DC 20005 260150254 501(C)(3) 0 15000 0 N/A SPONSORSHIP THE GREENVILLE DRIVE LLC 945 S MAIN STREET GREENVILLE SC 29601 043672609 0 60000 0 N/A SPONSORSHIP GREENVILLE ARENA DISTRICT 650 NORTH ACADEMY STREET GREENVILLE SC 29601 576007739 CITY OF GREENVILLE 0 75000 0 N/A SPONSORSHIP UPCOUNTRY HISTORY MUSEUM 340 BUNCOMBE STREET GREENVILLE SC 29601 570833796 501(C)(3) 0 75000 0 N/A OPERATING SUPPORT 6 3 ATHLETIC SCHOLARSHIPS 270 13403852 N/A N/A UNDERGRADUATE SCHOLARSHIPS 2044 69368661 N/A N/A GRADUATE SCHOLARSHIPS 48 521606 N/A N/A RESEARCH, INTERNSHIPS, & FELLOWSHIP STIPENDS 615 2091405 N/A N/A GRADUATE STIPENDS 11 87600 N/A N/A PART I, LINE 2: FURMAN PROVIDES SCHOLARSHIPS AND FINANCIAL AID TO INDIVIDUALS IN THE UNITED STATES TO ATTEND THE UNIVERSITY. THE SCHOLARSHIPS AND AID FOR SUCH STUDENTS ARE AWARDED BASED ON NEED AND MERIT AND COVER THE COSTS OF TUITION, AND ROOM AND BOARD. THE SCHOLARSHIPS AND/OR FINANCIAL AID ARE AWARDED BASED ON INSTITUTIONAL POLICY AND STANDARDS SET FORTH BY THE DEPARTMENT OF EDUCATION AND THE STATE OF SOUTH CAROLINA. THE UNIVERSITY'S FINANCIAL AID DEPARTMENT MONITORS THE COMPLIANCE WITH SUCH REGULATIONS. THE SCHOLARSHIP AND/OR FINANCIAL AID IS APPLIED BY THE FINANCIAL AID DEPARTMENT DIRECTLY AGAINST THE STUDENT'S ACCOUNT WITH THE UNIVERSITY AS A REDUCTION IN FEES. AS SUCH, THE GRANT CAN ONLY BE USED FOR ITS INTENDED PURPOSE (I.E. COST OF ATTENDANCE) AND CANNOT BE DIVERTED FROM THIS USE. OTHER TYPES OF GRANTS PROVIDED CONSIST OF RESEARCH, INTERNSHIPS, OR FELLOWSHIP GRANTS TO STUDENTS. SUCH GRANTS ARE GIVEN AND MONITORED BY THE ACADEMIC DEPARTMENT GIVING THE GRANT OR THE UNDERGRADUATE RESEARCH AND INTERNSHIP DEPARTMENT. SPONSORSHIPS PAID TO ORGANIZATIONS ARE MADE UNDER WRITTEN AGREEMENTS BETWEEN THE PARTIES AND SUPPORT COMMUNITY EVENTS AND PROVIDE A PRESENCE FOR FURMAN IN THE AREA. COMMUNITY ENGAGEMENT IS A SIGNIFICANT ASPECT OF THE FURMAN ADVANTAGE. THESE SPONSORSHIPS WITH GREENVILLE BUSINESSES THEREFORE SERVE TO ADVANCE THE FURMAN ADVANTAGE FOR OUR STUDENTS AND THE COMMUNITY. X X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 499317 0 137000 0 9405 0 34566 0 26290 0 706578 0 0 0 DR ELIZABETH DAVIS PRESIDENT 617807 0 0 0 4548 0 34024 0 8728 0 665107 0 63111 0 SUSAN MADDUX VP FOR FINANCE & ADMINISTRATION 403393 0 0 0 3516 0 34800 0 12210 0 453919 0 0 0 CLAYTON HENDRIX HEAD FOOTBALL COACH 299532 0 13500 0 8172 0 32551 0 27538 0 381293 0 0 0 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 279156 0 17500 0 7830 0 30556 0 29261 0 364303 0 0 0 THOMAS E EVELYN II VP FOR UNIVERSITY COMMUNICATIONS 295234 0 0 0 1806 0 32535 0 29161 0 358736 0 0 0 ROBERT KENNEY CHIEF INVESTMENT OFFICER 232786 0 59063 0 377 0 32181 0 29230 0 353637 0 0 0 BETH PONTARI ACADEMIC AFFAIRS & PROVOST 264684 0 0 0 963 0 28739 0 25678 0 320064 0 0 0 HEIDI MCCRORY VP FOR DEVELOPMENT 263745 0 0 0 0 0 28761 0 21250 0 313756 0 0 0 CONNIE L CARSON VP FOR STUDENT LIFE 263409 0 0 0 2732 0 28197 0 9348 0 303686 0 0 0 DANNY TANG CHIEF INFORMATION OFFICER 218600 0 14000 0 353 0 24339 0 30251 0 287543 0 0 0 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 194537 0 12120 0 0 0 21637 0 31684 0 259978 0 0 0 MEREDITH GREEN GENERAL COUNSEL 187849 0 0 0 3302 0 11325 0 33986 0 236462 0 0 0 JEFF REDDERSON ASSOCIATE VP FOR FACILITIES 176035 0 0 0 1187 0 19802 0 30027 0 227051 0 0 0 JEREMY CASS DEAN OF FACULTY 203857 0 0 0 461 0 21690 0 616 0 226624 0 0 0 DON GORDON RILEY INSTITUTE FOUNDING DIRECTOR 189592 0 0 0 2348 0 20488 0 9875 0 222303 0 0 0 ELIZABETH SEMAN CHIEF OF STAFF 183600 0 0 0 622 0 19521 0 413 0 204156 0 0 0 EMILY SCHUCK VP OF ENROLLMENT MANAGEMENT 137768 0 0 0 1817 0 14297 0 17250 0 171132 0 0 0 PART I, LINE 1A A COMPANION HAS TRAVELED WITH BOTH THE PRESIDENT, ELIZABETH DAVIS, AND THE MEN'S BASKETBALL COACH, BOB RICHEY. TO THE EXTENT THE TRAVEL WAS PERSONAL IN NATURE SUCH AMOUNTS WERE INCLUDED IN TAXABLE INCOME. THE PRESIDENT OF THE UNIVERSITY AND HER FAMILY RESIDE AT WHITE OAKS WHICH IS THE OFFICIAL RESIDENCE OF THE PRESIDENT. THE PRESIDENT IS REQUIRED TO LIVE AT WHITE OAKS AS A CONDITION OF HER EMPLOYMENT. THE RESIDENCE IS OWNED AND MAINTAINED BY THE UNIVERSITY. CLEANING, MAINTENANCE, AND, GROUNDSKEEPING SERVICES ARE PROVIDED BY THE UNIVERSITY FOR THE PUBLIC AREAS OF THE RESIDENCE ONLY. THE PRESIDENT HOSTS UNIVERSITY EVENTS AT WHITE OAKS AS WELL. ELIZABETH DAVIS AND JASON DONNELLY WERE PROVIDED WITH A CLUB MEMBERSHIP. TO THE EXTENT THE DUES WERE CONSIDERED PERSONAL, THE AMOUNTS WERE INCLUDED IN TAXABLE INCOME OR REIMBURSED TO THE UNIVERSITY. OTHERWISE, THE DUES ALLOW THE PRESIDENT TO MEET WITH DONORS AND OTHER SUPPORTERS OF THE UNIVERSITY AT THE CLUB. FURMAN POLICY GOVERNS THE NATURE AND TYPE OF ALLOWABLE EXPENDITURES AND PAYMENTS, INCLUDING REQUIREMENTS TO PROVIDE SUPPORTING DOCUMENTATION DETAILING THE TRANSACTION AND BUSINESS PURPOSE OF ANY APPROVED EXPENDITURE. PART I, LINE 4B NAME: ELIZABETH DAVIS, DESCRIPTION: $63,111 VESTED IN EMPLOYEE'S 457(F) SUPPLEMENTAL RETIREMENT PLAN. NAME: ROBERT KENNEY, DESCRIPTION: $6,497 WAS CONTRIBUTED TO EMPLOYEE'S 457(F) SUPPLEMENTAL RETIREMENT PLAN. PART I, LINE 7: THE BONUSES RECEIVED BY CERTAIN OFFICERS, KEY EMPLOYEES, OR HIGHLY COMPENSATED EMPLOYEES WERE PAYMENTS FOR MERIT AND NOT CONTINGENT ON THE REVENUE OR NET EARNINGS OF THE UNIVERSITY OR RELATED ORGANIZATION. A SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 8373031UL 2015-08-13 68432003 REFUNDING AND CAPITAL 0 0 0 B SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2021-09-22 35830000 REFUNDING OF 2006B AND 2010 BOND ISSUES 0 0 0 C SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031D42 2022-01-26 76277862 CAPITAL 0 0 0 D SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 83704MED4 2024-05-08 79042503 CAPITAL 0 0 0 A 4610000 68432003 659117 25001055 42771831 2017 1 0 1 1 B 4105000 35830000 219844 35610156 2012 1 1 1 1 C 76297393 1342351 588703 62023966 16040727 2024 0 0 0 1 D 79042503 632395 6062820 72603482 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2018 ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/26/2024 SCHEDULE K, PART II, LINE 3, COL C AND COL D: THE AMOUNT SHOWN AS TOTAL PROCEEDS OF ISSUE IN PART II IS HIGHER THAN THE AMOUNT IN PART I DUE TO INVESTMENT EARNINGS ON UNSPENT FUNDS. NA DEPENDENT OF TRUSTEE 83000 DISCOUNTED TUITION EDUCATION X 1 3000 FMV X 90458 APPRAISED VALUE X 37298 COST X 1 18511 COST X 104 3226517 FMV X DEVELOPMENT CAMPAIGN EVENTS 2 7960 COST X MUSICAL SCORES 1 4729 APPRAISED VALUE X PLAQUES AND SIGNS 1 3535 COST 0 0 1 0 PART I, COLUMN (B): FURMAN UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED OF EACH TYPE IN ACCORDANCE WITH THE UNIVERSITY'S RECORDKEEPING PRACTICES. FORM 990, PART VI, SECTION A, LINE 1A THERE SHALL BE AN EXECUTIVE COMMITTEE, OF WHICH THE MEMBERS SHALL BE THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD (WHO SHALL SERVE AS THE CHAIR OF THE EXECUTIVE COMMITTEE), THE RESPECTIVE CHAIRS OF THE OTHER STANDING COMMITTEES, UP TO THREE (3) "AT LARGE" TRUSTEES, AND THE PRESIDENT OF THE UNIVERSITY (WITH THE LATTER BEING AN EX OFFICIO, NON-VOTING MEMBER). THE SPECIFIC NUMBER OF "AT LARGE" TRUSTEES TO BE APPOINTED AS MEMBERS OF THE EXECUTIVE COMMITTEE FOR A PARTICULAR FISCAL YEAR SHALL BE DETERMINED ANNUALLY BY THE BOARD (ACTING WITH DUE CONSIDERATION OF ANY RECOMMENDATION THEREON FROM THE COMMITTEE ON TRUSTEESHIP) AT A MEETING HELD PRIOR TO THE BEGINNING OF SUCH FISCAL YEAR. DURING THE INTERIM BETWEEN MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO MAKE DECISIONS AND TAKE ACTIONS ON BEHALF OF THE BOARD, AND TO DO ALL ACTS AND PERFORM ALL DUTIES AND SERVICES NECESSARY TO THE OPERATION OF THE UNIVERSITY; PROVIDED THAT THE EXECUTIVE COMMITTEE (I) SHALL REPORT ALL SUCH ACTIONS TO THE BOARD, AT THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD, FOR THE BOARD'S REVIEW, CRITICISM AND ADVICE, AND WHEN AND IF NECESSARY OR PRUDENT, FOR THE BOARD'S RATIFICATION; (II) MAY NOT ELECT, APPOINT OR REMOVE TRUSTEES OR FILL VACANCIES ON THE BOARD OR ON ANY BOARD COMMITTEE (UNLESS THE LATTER IS PERMITTED PURSUANT TO SECTION 1(E)); (III) MAY NOT APPROVE OR DEFINITIVELY RECOMMEND THE DISSOLUTION OF THE UNIVERSITY OR THE SALE, PLEDGE OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE UNIVERSITY'S ASSETS; (IV) MAY NOT AUTHORIZE DISTRIBUTIONS; AND (V) MAY NOT ADOPT, AMEND OR REPEAL THE UNIVERSITY'S ARTICLES OF INCORPORATION OR THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE UNIVERSITY'S AUDIT COMMITTEE OF THE BOARD OF TRUSTEES 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. NO TRUSTEE SHALL VOTE ON ANY MATTER IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST; AND THE CHAIR SHALL REPORT TO THE BOARD THAT THE TRUSTEE HAS REPORTED THE CONFLICT OF INTEREST PRIOR TO TAKING A VOTE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT IS DETERMINED AND APPROVED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE PRESIDENT'S EMPLOYMENT IS GUIDED BY A WRITTEN EMPLOYMENT CONTRACT SIGNED BY BOTH PARTIES. EXECUTIVE COMMITTEE MEETINGS ARE DOCUMENTED. FOR OTHER OFFICERS OF THE UNIVERSITY, A COMPENSATION COMPARABILITY STUDY IS DONE DURING THE SEARCH PROCESS. SUBSEQUENT YEARS' SALARY INCREASES ARE BASED ON THE UNIVERSITY'S STANDARD COMPENSATION ADJUSTMENT POOL FOR THE FISCAL YEAR AS APPROVED BY THE BOARD OF TRUSTEES DURING THE ANNUAL BUDGET PROCESS. THE DELIBERATION AND DECISION IS DOCUMENTED IN THE BOARD MINUTES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. 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 387,378. CHANGE IN CSV LIFE INSURANCE 101,255. OTHER -364,765. CONTRIBUTION FROM FOUNDATION -329,917. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. FURMAN UNIVERSITY FOUNDATION 3300 POINSETT HIGHWAY GREENVILLE SC 29613 571061363 FOUNDATION SC 501(C)(3) LINE 12C, III-FI N/A 0 HOLLINGSWORTH FUNDS INC 124 VERDAE BOULEVARD GREENVILLE SC 29607 571003814 CHARITABLE SC 501(C)(3) LINE 12A, I N/A 0 CHARITABLE REMAINDER UNITRUSTS (4) SPLIT INTEREST SC T 0 CHARITABLE REMAINDER ANNUITY TRUST SPLIT INTEREST SC T 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 SCHEDULE R, PART II HOLLINGSWORTH FUNDS, INC. IS A TAX-EXEMPT SUPPORTING ORGANIZATION UNDER SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE WHOSE PURPOSE IS TO SUPPORT FURMAN UNIVERSITY AND OTHER GREENVILLE, SOUTH CAROLINA BASED CHARITIES. FOR THE YEAR ENDED JUNE 30, 2024, INCOME DISTRIBUTION FROM THE HOLLINGSWORTH FUNDS, WHICH ARE REPORTED AS INVESTMENT RETURNS, WAS $5,181,139 AND PROVIDED FUNDING FOR THE HOLLINSWORTH SCHOLARS PROGRAM, TWO ENDOWED PROFESSORSHIPS IN THE DEPARTMENTS OF ECONOMICS AND BUSINESS AND ACCOUNTING, AND SPECIFIC NEEDS OF THOSE TWO DEPARTMENTS. FURMAN UNIVERSITY FOUNDATION OPERATES AS A NON PROFIT PUBLIC BENEFIT CORPORATION TO SERVE THE NEEDS AND INTEREST OF FURMAN UNIVERSITY.