2021-05-17T17:42:07-05:00 2020-06-30 560574444 CHERRY BEKAERT LLP 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2019-07-01 570314395 FURMAN UNIVERSITY FURM 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 SUSAN MADDUX VP OF FINANCE & ADMINISTRATION 8642943496 2021-05-17 1 AMANDA ADAMS P00748038 8642333981 2019 2022-09-23 18:48:47Z DR ELIZABETH DAVIS 3300 POINSETT HIGHWAY GREENVILLE SC 29613 298586234 0 X 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. 33 32 2703 0 -1513322 0 26194545 23276048 177663493 169959276 28706816 13380096 1772161 1461843 234337015 208077263 72271417 67254157 0 0 92720456 94226623 0 0 5253214 72522097 71613336 237513970 233094116 -3176955 -25016853 1092540721 1049847532 126688867 118690023 965851854 931157509 X 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 151063776 67254157 137609097 INSTRUCTION OF STUDENTS IN BOTH UNDERGRADUATE AND GRADUATE PROGRAMS. THE 4 YEAR PATHWAY FOR STUDENTS INSTITUTED BY THE FURMAN ADVANTAGE INCLUDES STUDY AWAY PROGRAMS IN MORE THAN 20 COUNTRIES MOST OF WHICH ARE LED BY FURMAN FACULTY, CAREER FOCUSED INTERNSHIPS AND COMMUNITY INVOLVEMENT. SCHOLARSHIPS ARE AWARDED TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED AND ACADEMIC MERIT. 30329244 4510087 STUDENT SERVICES INCLUDES INTERCOLLEGIATE ATHLETICS, INTRAMURAL AND CLUB SPORTS, ENROLLMENT MANAGEMENT, STUDENT GOVERNMENT AND A LARGE VARIETY OF STUDENT ORGANIZATIONS, SERVICES AND ACTIVITIES. 21044398 23661525 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. 4350695 MISCELLANEOUS REVENUE FROM CONTRACTS AND FEES FROM EXEMPT FUNCTION UNIVERSITY ACTIVITIES. 4350695 202437418 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 1 0 1 0 0 0 0 1 0 0 0 1 431 0 1 2703 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 33 32 0 0 1 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 A ALEXANDER TAYLOR II CHAIR 2.00 0.00 X X 0 0 0 P EDWIN GOOD VICE CHAIR 2.00 0.00 X X 0 0 0 YENDELELA NEELY HOLSTON SECRETARY 2.00 0.00 X X 0 0 0 JOHN DONALD ANDERSON TRUSTEE 2.00 0.00 X 0 0 0 ROBERT L BLOCKER TRUSTEE 2.00 0.00 X 0 0 0 KEVIN R BRYANT TRUSTEE 2.00 0.00 X 0 0 0 KEVIN T BYRNE TRUSTEE 2.00 0.00 X 0 0 0 CHRISTINE NEWSOME BYRON TRUSTEE 2.00 0.00 X 0 0 0 RICHARD CULLEN TRUSTEE 2.00 0.00 X 0 0 0 LEE C DILWORTH TRUSTEE 2.00 0.00 X 0 0 0 DAVID G ELLISON TRUSTEE 2.00 0.00 X 0 0 0 SEAN P HARTNESS TRUSTEE 2.00 1.00 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 STANFORD J JENNINGS TRUSTEE 2.00 0.00 X 0 0 0 CARL F KOHRT TRUSTEE 2.00 0.00 X 0 0 0 JAMES A LANIER JR TRUSTEE 2.00 0.00 X 0 0 0 MARY SEAWELL METZ TRUSTEE 2.00 0.00 X 0 0 0 JAMES M NEY TRUSTEE 2.00 0.00 X 0 0 0 JASON W RICHARDS TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL C RIORDAN TRUSTEE 2.00 0.00 X 0 0 0 DANIEL S SANDERS JR TRUSTEE 2.00 0.00 X 0 0 0 SUSAN T SHI TRUSTEE 2.00 0.00 X 0 0 0 PEACE STERLING SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 BRENDA J THAMES TRUSTEE 2.00 0.00 X 0 0 0 TONY R THENE TRUSTEE 2.00 0.00 X 0 0 0 RACHELLE H THOMPSON TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM R TIMMONS III TRUSTEE 2.00 1.00 X 0 0 0 DAVID J TRONE 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 0.00 X 0 0 0 BAXTER M WYNN TRUSTEE 2.00 0.00 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 536840 0 67705 SUSAN MADDUX VP FINANCE & ADMINISTRATION 40.00 2.00 X 262690 0 49536 KENNETH PETERSON VP FOR AA & PROVOST BEG 8/1/19 40.00 0.00 X 218550 0 47089 MICHAEL HENDRICKS VP ENROLLMENT MGMT 40.00 0.00 X 283118 0 70607 DAVID P STEINOUR CHIEF INFORMATION OFFICER 40.00 0.00 X 276789 0 41074 THOMAS E EVELYN II VP COMMUNICATION 40.00 0.00 X 236608 0 66541 CONNIE L CARSON VP STUDENT LIFE 40.00 0.00 X 202672 0 36908 HEIDI MCCRORY VP DEVELOPMENT 40.00 0.00 X 244066 0 66036 JASON DONNELLY ATHLETICS DIRECTOR THRU 12/31/19 40.00 0.00 X 123833 0 5840 GEORGE SHIELDS VP OF AA & PROVOST THRU 8/1/2019 40.00 0.00 X 236762 0 57624 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 40.00 0.00 X 255089 0 45557 JEFF REDDERSON AVP FACILITIES 40.00 0.00 X 167135 0 37243 CLAYTON HENDRIX HEAD COACH FOOTBALL 40.00 0.00 X 282194 0 52245 ROBERT RICHEY MEN'S BASKETBALL COACH 40.00 0.00 X 280206 0 51390 DONALD GORDAN EXECUTIVE DIRECTOR RILEY INSTITUTE 40.00 0.00 X 180548 0 34171 RICHARD MEADE MEN'S LACROSSE COACH 40.00 0.00 X 262038 0 32426 AMY BLACKWELL AVP FINANCE 40.00 0.00 X 169533 0 38824 MICHAEL BUDDIE FORMER OFFICER (ATHLETIC DIR.) 0.00 0.00 X 149674 0 25433 4368345 0 826249 141 1 1 0 COMPASS GROUP USA INC PO BOX 91337 CHICAGO IL 606931337 DINING SERVICES 9098608 SCI WDSFMS SERVICES LLC PO BOX 402521 ATLANTA GA 303842521 CONSULTING 1712902 EDUCATIONAL PROGRAMMES ABROAD INC 500 JOSEPH C WILSON BLVD ROCHESTER NY 14627 STUDENT SERVICES 941564 APOGEE TELECOM INC PO BOX 95541 GRAPEVINE TX 760999703 TECHNOLOGY SERVICES 898324 EBSCO PO BOX 204661 DALLAS TX 753204661 TECHNOLOGY SERVICES 813077 60 6075 297613 2049614 20922746 1707456 23276048 TUITION AND FEES 611710 137609097 137609097 ROOM AND BOARD 611710 23661525 23661525 INTERCOLLEGIATE ATHLETICS 611710 4510087 4510087 OTHER AUXILIARY 611710 1240226 1240226 2938341 2938341 169959276 10050759 -1470072 11520831 2628275 1157412 1470863 1470863 238986 -50899 1282776 92306824 148756 88953719 172524 3353105 -23768 3329337 3329337 111454 6075 61265 50189 50189 104842 164051 -59209 -66858 7649 208077263 170131404 -1513322 16183133 569657 569657 66684500 66684500 3659855 1271184 2063938 324733 65435882 56826681 5928370 2680831 6824590 5793975 747946 282669 13452670 10791762 2275120 385788 4853626 4076857 563723 213046 436302 436302 165630 165630 5090439 5090439 10832224 8015364 2430844 386016 4001029 3156305 717778 126946 5652434 4170797 1296362 185275 3156815 2870285 276957 9573 8098352 7763798 130906 203648 1830069 1588172 174316 67581 3287093 3032906 254187 14401260 13186624 1214636 976637 888828 87809 MEAL PLAN EXPENSE 6366446 6366446 LIBRARY RESOURCES 1471625 1471625 REPAIRS & MAINTENANCE 643382 559719 83663 GRANT EXPENSE 508911 508911 4694688 2843022 1464558 387108 233094116 202437418 25403484 5253214 13624048 8885468 16901809 17213395 23937889 16706224 5725860 3129139 272044 251176 2868543 1697393 487214235 222293182 269781428 264921053 92821230 78303707 499380880 482218349 3000169 47768 164226821 176473860 1092540721 1049847532 8046637 7525287 7970239 6403512 102823005 100443977 41488 44617 7807498 4272630 126688867 118690023 X 356011213 342796265 609840641 588361244 965851854 931157509 1092540721 1049847532 X -25016853 -9592052 -85440 X 0 1 X 1 1 1 X 63073720 28009766 24479236 26194545 23276048 165033315 63073720 28009766 24479236 26194545 23276048 165033315 56245056 108788259 10710160 11843285 15778991 13052566 11613577 62998579 228031894 852261846 0.47710 0.44580 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 7 337025 372308 3985471 1 1 3721877 X X 0 0 1 X 694271736 11819457 3561096 14361697 19951585 5324930 670014077 702854866 15062542 16900125 12533250 24647089 3365458 694271736 661046233 17843681 60328135 11371784 21673063 3318336 702854866 609730540 17812606 67449504 11618256 18506824 3821337 661046233 631397402 13018109 -1924812 9938999 19646598 3174562 609730540 0.16040 0.58670 0.25290 1 1 1 35717412 35717412 341731788 147249342 194482446 79079321 53719847 25359474 30685714 21323993 9361721 264921053 328225 F REAL ESTATE 5508146 F REAL ASSET FUNDS 47051494 F PRIVATE CAPITAL 89146580 F HEDGED STRATEGIES 111353833 F FIXED INCOME 42097949 F EQUITY SECURITIES 181659985 F REAL ESTATE 1111328 C PRIVATE CAPITAL 3960809 C 482218349 EQUITY INTEREST IN HOLLINGSWORTH FUNDS 169326291 FUNDS HELD IN TRUST BY OTHERS 4813451 CSV LIFE INSURANCE 2027078 DEPOSITS 307040 176473860 GOVERNMENT ADVANCES FOR STUDENT LOANS 369113 ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 1168780 ASSET RETIREMENT OBLIGATION 1447054 INTEREST RATE SWAP AGREEMENT 953646 CAPITAL LEASE AGREEMENTS 334037 4272630 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 2,600 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, 2020 AND 2019 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, THE FEDERAL COLLEGE WORK STUDY PROGRAM, AND THE FEDERAL PERKINS LOAN 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. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY AWAY 13980 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 104882349 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT RECRUITING 10745 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY AWAY 456844 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 4710300 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT RECRUITING 21483 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES LAB SUPPLIES 1919 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT REFUND 24206 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 360 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY AWAY 2835008 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 19658643 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT RECRUITING 10742 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 1799 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES SUPPLIES 375 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES TRAVEL 10175 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES LIBRARY RESOURCES 5175 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INSTRUCTION 1505 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY AWAY 160338 NORTH AMERICA 0 0 PROGRAM SERVICES STUDENT RECRUITING 16114 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY AWAY 194733 SOUTH AMERICA 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 2000 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY AWAY 231105 SOUTH ASIA 0 0 PROGRAM SERVICES STUDENT RECRUITING 5371 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY AWAY 2309 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES PHOTOGRAPHY SERVICES 700 0 0 0 0 0 0 110121826 23136452 133258278 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: MBB GOLF 41975 4075 37900 4198 5785 3101 1679 RWB RUN 36649 36649 12325 2721 439 11424 2 38905 2000 36905 3058 9199 6852 484 117529 6075 111454 19581 17705 10392 13587 61265 50189 1 CLEMSON UNIVERSITY FOUNDATION PO BOX 1889 CLEMSON SC 29633 570426335 501(C)(3) 5000 SPONSORSHIP EMPIRE MOCK TRIAL 515 ROUTE 33 MILLSTONE NJ 08535 260150254 501(C)(3) 15000 SPONSORSHIP FALL FOR GREENVILLE PO BOX 2207 GREENVILLE SC 29602 570876594 501(C)(3) 7500 SPONSORSHIP GREENVILLE ARENA DISTRICT 650 N ACADEMY STREET GREENVILLE SC 29601 576007739 GOV 75000 SPONSORSHIP GREENVILLE CHAMBER OF COMMERCE 24 CLEVELAND STREET GREENVILLE SC 29601 570173240 501(C)(6) 16100 SPONSORSHIP M JUDSON BOOKSELLERS 130 S MAIN STREET GREENVILLE SC 29601 471792713 50000 SPONSORSHIP OUR UPSTATE SC 150 EXECUTIVE CENTER DR STE 202 GREENVILLE SC 29615 451842000 501(C)(3) 10000 SPONSORSHIP THE GREENVILLE DRIVE LLC 945 S MAIN STREET GREENVILLE SC 29601 043672609 75000 SPONSORSHIP UPCOUNTRY HISTORY MUSEUM 340 BUNCOMBE STREET GREENVILLE SC 29601 570833796 501(C)(3) 162500 OPERATING SUPPORT VENTURE CAROLINA 225 S PLEASANTBURG DR STE C-15 GREENVILLE SC 29607 464531249 501(C)(3) 25000 SPONSORSHIP VENTURESOUTH CAPITAL LLC 225 S PLEASANTBURG DR STE C-15 GREENVILLE SC 29607 810946559 15000 SPONSORSHIP 7 4 UNDERGRAD SCHOLARSHIPS 2194 52882562 ATHLETIC SCHOLARSHIPS 299 12727993 GRADUATE SCHOLARSHIPS 11 26020 FELLOWSHIPS AND INTERNSHIPS 386 962925 GRADUATE STIPENDS 8 85000 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. 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 0 0 0 0 0 0 0 1 0 DR ELIZABETH DAVIS PRESIDENT 491520 0 0 0 45320 0 35000 0 32705 0 604545 0 0 0 SUSAN MADDUX VP FINANCE & ADMINISTRATION 230438 0 0 0 32252 0 34167 0 15369 0 312226 0 0 0 KENNETH PETERSON VP FOR AA & PROVOST BEG 8/1/19 173501 0 0 0 45049 0 28163 0 18926 0 265639 0 0 0 MICHAEL HENDRICKS VP ENROLLMENT MGMT 237792 0 0 0 45326 0 35000 0 35607 0 353725 0 0 0 DAVID P STEINOUR CHIEF INFORMATION OFFICER 249187 0 0 0 27602 0 34476 0 6598 0 317863 0 0 0 THOMAS E EVELYN II VP COMMUNICATION 219204 0 0 0 17404 0 30692 0 35849 0 303149 0 0 0 CONNIE L CARSON VP STUDENT LIFE 201550 0 0 0 1122 0 25500 0 11408 0 239580 0 0 0 HEIDI MCCRORY VP DEVELOPMENT 235308 0 0 0 8758 0 31563 0 34473 0 310102 0 0 0 GEORGE SHIELDS VP OF AA & PROVOST THRU 8/1/2019 209775 0 0 0 26987 0 30997 0 26627 0 294386 0 0 0 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 163061 0 51919 0 40109 0 26104 0 19453 0 300646 0 0 0 JEFF REDDERSON AVP FACILITIES 136725 0 0 0 30410 0 21758 0 15485 0 204378 0 0 0 CLAYTON HENDRIX HEAD COACH FOOTBALL 242477 0 0 0 39717 0 33992 0 18253 0 334439 0 0 0 ROBERT RICHEY MEN'S BASKETBALL COACH 241926 0 3000 0 35280 0 33288 0 18102 0 331596 0 0 0 DONALD GORDAN EXECUTIVE DIRECTOR RILEY INSTITUTE 167637 0 0 0 12911 0 22648 0 11523 0 214719 0 0 0 RICHARD MEADE MEN'S LACROSSE COACH 235885 0 0 0 26153 0 30997 0 1429 0 294464 0 0 0 AMY BLACKWELL AVP FINANCE 165374 0 2500 0 1659 0 21801 0 17023 0 208357 0 0 0 MICHAEL BUDDIE FORMER OFFICER (ATHLETIC DIR.) 146014 0 0 0 3660 0 16124 0 9309 0 175107 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 7 FURMAN UNIVERSITY MADE NON-FIXED BONUS PAYMENTS TO KRISTOPHER KAPOOR, ROBERT RICHEY, AND AMY BLACKWELL. THE PAYMENTS WERE FOR MERIT AND NOT CONTINGENT ON THE REVENUES OR NET EARNINGS OF THE UNIVERSITY OR ANY RELATED ORGANIZATION. A EFA FOR PRIVATE NON-PROFIT 576000286 836896GE4 2006-07-06 46660000 REFUNDING AND CAPITAL 0 0 0 B EFA FOR PRIVATE NON-PROFIT 576000286 836896JA9 2010-03-18 21867529 REFUNDING AND CAPITAL 0 0 0 C SC JOBS - ECONOMIC DEV AUTHORITY 570960018 837031ULS 2015-08-13 68432003 REFUNDING AND CAPITAL 0 0 0 A 17370000 46660000 386655 10003417 36269928 2008 1 0 1 1 B 14030000 21867529 388902 1000000 20478628 2012 1 1 1 1 C 1525000 68432003 659117 25001055 42771831 2017 0 1 1 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 1 1 1 WELLS FARGO 20.000000000000 0 0 1 TRINITY PLUS 1.000000000000 1 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: EFA FOR PRIVATE NON-PROFIT DATE THE REBATE COMPUTATION WAS PERFORMED: 01/14/2013 ISSUER NAME: SC JOBS - ECONOMIC DEV. AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2018 NA N/A 343628 SCHOLARSHIPS MERIT CHARLES DAVIS SPOUSE OF OFFICER 10700 SALARY 0 COURTNEY TOLLISON SPOUSE OF TRUSTEE 44467 SALARY 0 SCHEDULE L, PART V - ADDITIONAL INFORMATION COURTNEY TOLLISON, SPOUSE OF UNIVERSITY TRUSTEE SEAN HARTNESS, WAS PAID WAGES FOR HER EMPLOYMENT WITH THE FILING ORGANIZATION. CHARLES DAVIS, SPOUSE OF UNIVERSITY PRESIDENT ELIZABETH DAVIS, WAS PAID WAGES FOR HIS EMPLOYMENT WITH THE FILING ORGANIZATION. THESE WAGES ARE DETERMINED AT ARMS LENGTH. X 58 1678077 MARKET VALUE X 8 19353 COST X SUPPLIES 3 6025 COST X OFFICE FURNITURE 2 4001 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 4 FURMAN UNIVERSITY BYLAWS WERE AMENDED AND RESTATED ON OCTOBER 26, 2019. THE BYLAW REVISIONS RELATED TO THE BOARD OF TRUSTEES ELECTION PROCESS AND PROCEDURES. THE REVISIONS ALIGN THE BYLAWS WITH THE BOARD'S CURRENT PRACTICES AROUND CULTIVATING PROSPECTIVE TRUSTEESHIP NOMINEES. 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 INTEREST RATE EXCHANGE AGREEMENT -96,226. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -126,703. CHANGE IN CSV LIFE INSURANCE 137,489. 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 (9) 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, 2020, INCOME DISTRIBUTIONS FROM THE HOLLINGSWORTH FUNDS, WHICH ARE REPORTED AS INVESTMENT RETURNS, WERE $3,895,459, 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.