2021-05-17T08:03:08-05:00 2020-06-30 560574444 CHERRY BEKAERT LLP 110 EAST COURT STREET GREENVILLE SC 29601 990 2019-07-01 570426335 CLEMSON UNIVERSITY FOUNDATION CLEM 8646561289 PO BOX 1889 CLEMSON SC 296331889 HARRISON F TRAMMELL PRESIDENT AND CEO 8646561289 2021-05-15 1 AMANDA ADAMS P00748038 8642333981 2019 2022-09-23 18:48:47Z HARRISON F TRAMMELL PO BOX 1889 CLEMSON SC 296331889 118801364 0 X WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS X 1933 SC THE CLEMSON UNIVERSITY FOUNDATION IS ORGANIZED TO PROMOTE THE WELFARE AND FUTURE DEVELOPMENT OF CLEMSON UNIVERSITY IN ITS EDUCATIONAL AND SCIENTIFIC PURPOSES; TO SEEK AND RECEIVE GIFTS OR PUBLIC FUNDS FOR THE BENEFIT OF CLEMSON UNIVERSITY THROUGH ENDOWMENT GIVING, FUND-RAISING, OR OTHER PROGRAMS; AND TO MANAGE PRUDENTLY SUCH FUNDS AND THE DISBURSEMENT OF SUCH WITH A POLICY THAT ENCOURAGES THE ENHANCEMENT OF RESOURCES. 43 43 3 144 -393792 -1007017 35644707 45528366 4443318 4430413 17375427 15228237 -46093 0 57417359 65187016 28274869 27227264 0 0 688484 907672 164844 193087 5034106 14147994 12580163 43276191 40908186 14141168 24278830 923248232 944348237 291918411 294396391 631329821 649951846 X THE FOUNDATION IS ORGANIZED TO PROMOTE THE WELFARE AND FUTURE DEVELOPMENT OF CLEMSON UNIVERSITY IN ITS EDUCATIONAL AND SCIENTIFIC RESEARCH PURPOSES AND TO SEEK AND RECEIVE GIFTS FOR THE BENEFIT OF CLEMSON UNIVERSITY THROUGH ENDOWMENT GIVING AND OTHER FUNDRAISING ACTIVITIES, AND TO MANAGE SUCH FUNDS PRUDENTLY AND WITHIN ESTABLISHED POLICY. 0 0 25780472 22527850 4430413 PROGRAM SUPPORT: FUNDING PROVIDED TO SUPPORT THE EDUCATIONAL, RESEARCH, AND PUBLIC SERVICE MISSION OF CLEMSON UNIVERSITY, INCLUDING SUPPORT FOR SCHOLARSHIPS, FELLOWSHIPS, FACULTY SUPPORT, AND ACADEMIC PROGRAM SUPPORT. THE SOURCES FOR FUNDING PROGRAM SUPPORT INCLUDE DONOR RESTRICTED GIVING FOR THESE PURPOSES AND SPENDABLE RETURN SUPPORT FROM ENDOWMENT FUNDS DESIGNATED FOR THESE PURPOSES. 4699414 4699414 CAPITAL PROJECTS: FUNDING PROVIDED IN SUPPORT OF THE EDUCATIONAL, RESEARCH, AND PUBLIC SERVICE MISSION OF CLEMSON UNIVERSITY THROUGH FUNDRAISING EFFORTS FOR PHYSICAL PLANT NEEDS. THIS INCLUDES FUNDING IN SUPPORT OF PRIORITIZED CAPITAL PROJECTS AND EXPENDITURES INCLUDING RENOVATION OF EXISTING FACILITIES, CONSTRUCTION OF NEW FACILITIES, AND LARGE DOLLAR EQUIPMENT EXPENDITURES RELATED TO RESEARCH AND ACADEMIC PROGRAMMING. THE SOURCES FOR FUNDING FOR THESE CAPITAL EXPENDITURES IS THROUGH DONOR GIVING. 30479886 1 1 0 1 0 1 0 0 1 1 1 1 0 0 1 0 1 1 0 0 1 0 0 1 0 0 0 1 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 143 0 1 3 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 43 43 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X X LISA MARCUS DIRECTOR ARO 8646561873 391 COLLEGE AVE STE 302 CLEMSON SC 29634 ROBERT B HAMBRIGHT CHAIR 3.00 0.00 X X 0 0 0 KENNETH L SMITH VICE-CHAIR 3.00 0.00 X X 0 0 0 BRYANT G BARNES DIRECTOR 1.00 0.00 X 0 0 0 M BRENT BEASON DIRECTOR 1.00 0.00 X 0 0 0 JANINE ANTHONY BOWEN DIRECTOR 2.00 0.00 X 0 0 0 CELESTE D BOYKIN DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM P BRADLEY DIRECTOR 1.00 0.00 X 0 0 0 JEFFREY J BROWN DIRECTOR 1.00 0.00 X 0 0 0 MARSHALL L BROWN DIRECTOR 2.00 0.00 X 0 0 0 JONATHAN J CENTURINO DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL C CRAPPS DIRECTOR 1.00 0.00 X 0 0 0 JAMES P CREEL JR DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL D DOWLING DIRECTOR 1.00 3.00 X 0 0 0 R CHARLES ELDRIDGE JR DIRECTOR 1.00 0.00 X 0 0 0 JOHN D GARRISON DIRECTOR 1.00 0.00 X 0 0 0 GERALD M GLENN DIRECTOR 2.00 0.00 X 0 0 0 JOHN M GRIFFIN JR DIRECTOR (JULY-DEC) 1.00 3.00 X 0 0 0 HARRY T HALL IV DIRECTOR 1.00 0.00 X 0 0 0 BRYANT AUBREY HARRELL DIRECTOR 2.00 0.00 X 0 0 0 LEON J HENDRIX III DIRECTOR 1.00 0.00 X 0 0 0 CHERYL R HOLLAND DIRECTOR 2.00 0.00 X 0 0 0 ANN W HUNTER DIRECTOR 1.00 0.00 X 0 0 0 RAYMOND E JONES DIRECTOR 1.00 0.00 X 0 0 0 JAMES R KINGMAN DIRECTOR 1.00 0.00 X 0 0 0 J ALLEN MARTIN DIRECTOR 1.00 0.00 X 0 0 0 ANTHONY L MATHIS DIRECTOR 2.00 0.00 X 0 0 0 ALBERT D MCALISTER DIRECTOR 1.00 0.00 X 0 0 0 D BYRD MILLER III DIRECTOR 1.00 0.00 X 0 0 0 ROBERT MORGAN DIRECTOR 1.00 0.00 X 0 0 0 DAVID L MORROW DIRECTOR 1.00 0.00 X 0 0 0 GREGG F MORTON DIRECTOR 1.00 2.00 X 0 0 0 E MITCHELL NORVILLE DIRECTOR 2.00 0.00 X 0 0 0 JAMES H OWEN JR DIRECTOR 1.00 0.00 X 0 0 0 G MARK PHILLIPS DIRECTOR 1.00 0.00 X 0 0 0 CHERI M PHYFER DIRECTOR 1.00 0.00 X 0 0 0 BARTON A PROCTOR DIRECTOR 1.00 0.00 X 0 0 0 BOB RIGGINS DIRECTOR (JAN - JUNE) 1.00 3.00 X 0 0 0 JAMES C SELF III DIRECTOR 1.00 0.00 X 0 0 0 ROBERT J STANZIONE DIRECTOR 2.00 0.00 X 0 0 0 SHARON M STRUTHERS DIRECTOR 1.00 0.00 X 0 0 0 STEPHANIE D VISCEGLIA DIRECTOR 1.00 0.00 X 0 0 0 EMILY P WALLACE DIRECTOR 1.00 0.00 X 0 0 0 JONATHAN P WEITZ DIRECTOR 1.00 0.00 X 0 0 0 AMY J YODER DIRECTOR 1.00 0.00 X 0 0 0 HARRISON F TRAMMELL PRESIDENT & CEO 38.00 5.00 X 0 280665 31073 DEBORAH C NEWSOM TREASURER & CFO 38.00 2.00 X 0 170720 15846 BETH MOORE SECRETARY THRU OCT. 2019 37.00 1.00 X 0 52466 25222 APRIL PURVIS SECRETARY AS OF NOV. 2019 38.00 2.00 X 65805 36986 7047 JAMES CLEMENTS CLEMSON UNIVERSITY PRESIDENT 10.00 36.50 X 643879 342782 77768 JOHN C ALEXANDER CIO 8.00 30.00 X 105847 184806 16179 815531 1068425 173135 2 0 1 0 BLACKBAUD 2000 DANIEL ISLAND DRIVE DANIEL ISLAND SC 29492 IT SUPPORT 1367936 ARAMARK EDUCATIONAL SERVICES PO BOX 3295 GREENVILLE NC 27836 FOOD SERVICES 1187660 CAMBRIDGE ASSOCIATES LLC PO BOX 83232 CHICAGO IL 60691 INVESTMENT ADVISING 628378 AETOS ALTERNATIVES MANAGEMENT LLC 875 THIRD AVENUE NEW YORK NY 10022 INVESTMENT ADVISING 282586 COLLEGE CONNECTIONS INC 6129 LONG MEADOW ROAD MCLEAN VA 22101 ALUMNI OUTREACH 192573 7 209415 45318951 4698422 45528366 ENDOWMENT MANAGEMENT FEE 523000 2348611 2348611 DEVELOPMENT FEES 561000 672948 672948 PROGRAM & ACTIVITIES REVENUE 561000 443247 443247 SPONSORSHIPS 541800 172250 172250 REGISTRATION FEES 900099 9229 9229 784128 784128 4430413 7712363 -393792 8106155 61130222 53614348 7515874 7515874 7515874 65187016 4430413 -393792 15622029 27227264 27227264 868529 229729 638800 39143 17274 21869 81126 81126 54502 54502 193087 193087 1327208 1327208 1162321 486395 630186 45740 342794 176709 98290 67795 903131 182402 327632 393097 1250538 1250538 293687 59780 164076 69831 1106746 579216 17230 510300 36872 36872 120604 9926 99868 10810 FUNCTIONS & EVENTS 2105583 1047565 98555 959463 SHARED SERVICES 1997282 526674 1470608 DEVELOPMENT FEES 651315 589227 62088 MEMBERSHIPS/SUBSCRIPTIO 48955 2635 6245 40075 1097499 118767 366101 612631 40908186 30479886 5394194 5034106 73088394 77501729 55148392 69381413 491280 10882645 1654022 9265495 9228623 555060839 545886765 206091954 218019342 20000000 20000000 4593158 3839085 923248232 944348237 1265537 257421 4000000 78592594 84360217 212060280 205778753 291918411 294396391 X 36984922 40154813 594344899 609797033 631329821 649951846 923248232 944348237 X 24278830 -4461340 -1195465 X 0 1 X 1 0 X 39655861 29965778 39379389 35644707 45528366 190174101 39655861 29965778 39379389 35644707 45528366 190174101 468861 189705240 13167325 9539584 6403442 8388576 7712363 45211290 350346 313635 663981 33597 33597 236082969 22184903 0.80360 0.76190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 59499 59499 39328392 39387891 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 97093 94693 70894 59499 322179 250000 250000 250000 250000 1000000 1500000 PART II - A, LINE 1, LOBBYING ACTIVITIES: THE AMOUNTS REPORTED AS LOBBYING EXPENDITURES ARE NON-PERSONNEL EXPENSES ASSOCIATED WITH CERTAIN LEGISLATIVE AFFAIRS FUNCTIONS FOR THE BENEFIT OF CLEMSON UNIVERSITY INCLUDING LEASED OFFICE SPACE. 1 140702 1 1 0 1 X 511184672 18601317 2702820 5878043 10940515 515670251 483926898 13807043 29016181 7103996 8461454 511184672 454313336 18310415 35982575 7426247 17253181 483926898 416356433 11785373 39714101 2525313 11017258 454313336 406874549 22117538 -8443211 4192443 416356433 0.05370 0.63220 0.31410 0 0 11900 8971049 8982949 1785818 1540144 245674 113878 113878 0 9228623 HEDGE FUNDS 119934011 F PRIVATE EQUITY 80243142 F PRIVATE REAL ASSETS 17842189 F 218019342 DUE TO RELATED ORGANIZATIONS 638295 ACCRUED LIABILITY TO CLEMSON UNIVERSITY DUE TO NET INVESTMENT APPRECIATION 54924202 NOTE PAYABLE TO CLEMSON UNIVERSITY 146677655 ACTUARIAL LIABILITY OF ANNUITIES PAYABLE 3538601 205778753 59320796 -4461340 -1195465 -5656805 64977601 209415 209415 65187016 40698771 0 40698771 209415 209415 40908186 PART IV, LINE 2B: THE FOUNDATION HOLDS AND INVESTS FUNDS BELONGING TO AFFILIATED ORGANIZATIONS. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS OF THE FOUNDATION TO FUNCTION AS ENDOWMENTS. PAYOUTS ARE BASED ON A SPECIFIED PERCENTAGE OF THE 12-QUARTER ROLLING AVERAGE BALANCE OF THE ENDOWMENT FUNDS. THE PURPOSE, AS SPECIFIED BY THE DONOR, IS THE BASIS FOR UTILIZATION OF THE FUNDS, WITH THERE BEING THREE BROAD CATEGORIES OF SUPPORT - STUDENT SCHOLARSHIPS, FELLOWSHIPS, AWARDS, AND OTHER FINANCIAL AID; FACULTY SUPPORT; AND ACADEMIC COLLEGE AND DEPARTMENTAL SUPPORT. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF LIFE INSURANCE POLICIES -452,183. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -743,282. PART XI, LINE 4B - OTHER ADJUSTMENTS: TRANSFERS FROM RELATED ENTITY 209,415. PART XII, LINE 4B - OTHER ADJUSTMENTS: TRANSFERS FROM RELATED ENTITY 209,415. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 107198708 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 13508494 0 0 0 0 0 0 120707202 0 120707202 1 0 1 1 1 0 PART III ACCOUNTING METHOD: PART IV, LINE 1 THE ORGANIZATION WAS A TRANSFEROR OF PROPERTY TO VARIOUS FOREIGN CORPORATIONS (INVESTMENTS) DURING THE FISCAL YEAR. SOME OF THE AMOUNTS TRANSFERRED MET THE FORM 926 FILING REQUIREMENTS AND THE FOUNDATION HAS FILED THE FORM 926 FOR THESE TRANSACTIONS. PART IV, LINE 3 WHILE THE FOUNDATION HAD INVESTMENTS IN FOREIGN CORPORATIONS DUE TO VARIOUS ALTERNATIVE INVESTMENTS, THE OWNERSHIP INTERESTS WERE BELOW THE FILING THRESHOLDS FOR FORM 5471. PART IV, LINE 4 THE ORGANIZATION IS AN INVESTOR IN ONE OR MORE PASSIVE FOREIGN INVESTMENT COMPANIES ("PFICS"). THE ORGANIZATION DID NOT RECEIVE ANY TAXABLE DISTRIBUTIONS FROM ANY OF THE PFICS DURING THE FISCAL YEAR. FORM 8621 IS NOT BEING FILED PURSUANT TO IRS GUIDANCE SET FORTH IN REG. SEC. 1.1291-1(E). PART IV, LINE 5 THE ORGANIZATION WAS A TRANSFEROR OF CASH TO VARIOUS FOREIGN PARTNERSHIPS (INVESTMENTS) DURING THE FISCAL YEAR. SOME OF THE AMOUNTS TRANSFERRED MET THE FORM 8865 FILING REQUIREMENTS AND THE FOUNDATION HAS FILED THE FORM 8865 FOR THESE TRANSACTIONS. X X X X X X X 1 BENTZ WHALEY FLESSNER 7251 OHMS LANE MINNEAPOLIS MN 55439 CAPITAL CAMPAIGN CONSULTANT 0 0 111600 -111600 COLLEGE CONNECTIONS INC 6129 LONG MEADOW ROAD MCLEAN VA 22101 ALUMNI OUTREACH 0 0 81487 -81487 193087 -193087 AL AR CA CO DC KY ME MD MA MI MN NE NH NJ NY OH OK OR SC UT WA WV AL CT FL GA HI IL KS MS NM NC ND PA RI TN VA WI 1 CLEMSON UNIVERSITY ADMIN SERVICES BLDG 108 PERIMETER ROAD CLEMSON SC 29634 576000254 170(C)(1) 27010310 179144 FMV AT PURCHASE EQUIPMENT TRANSFERRED TO CLEMSON UNIVERSITY TO PROMOTE THE WELFARE AND FUTURE DEVELOPMENT OF CLEMSON UNIVERSITY THROUGH PROGRAMMATIC AND SCHOLARSHIP SUPPORT CLEMSON ALUMNI ASSOCIATION 109 DANIEL DRIVE CLEMSON SC 29631 576026334 501(C)(3) 7090 GENERAL SUPPORT IPTAY PO BOX 1529 CLEMSON SC 29633 465666637 501(C)(3) 30720 GENERAL SUPPORT 3 0 PART I, LINE 2: ALL DISBURSEMENTS TO CLEMSON UNIVERSITY ARE REVIEWED FOR COMPLIANCE WITH GIFT AGREEMENTS AND APPROPRIATENESS. SCHOLARSHIPS AND FINANCIAL AID ARE ADMINISTERED AND DISBURSED AS A PART OF THE FINANCIAL AID AWARD PROCESS THROUGH THE FINANCIAL AID DEPARTMENT OF CLEMSON UNIVERSITY. DISBURSEMENTS TO AFFILIATED ORGANIZATIONS ARE PRIMARILY THE RESULT OF EXPENDITURES WITHIN THOSE ORGANIZATIONS, FUNDING FOR WHICH IS PROVIDED THROUGH GIFTS HELD BY THE CLEMSON UNIVERSITY FOUNDATION. THE DISBURSEMENTS ARE REVIEWED FOR COMPLIANCE WITH GIFT AGREEMENTS. THE FUNDING FOR STUDENT SCHOLARSHIPS AND GRANTS ARE ADMINISTERED AND DISBURSED BY CLEMSON UNIVERSITY IN COMPLIANCE WITH FEDERAL REQUIREMENTS AND INSTITUTIONAL POLICIES AS A PART OF THE FINANCIAL AID AWARD PROCESS. X X 1 1 X X 0 1 0 0 0 0 0 1 0 HARRISON F TRAMMELL PRESIDENT & CEO 0 261722 0 10000 0 8943 0 13477 0 17596 0 311738 0 0 DEBORAH C NEWSOM TREASURER & CFO 0 170300 0 0 0 420 0 8624 0 7222 0 186566 0 0 JAMES CLEMENTS CLEMSON UNIVERSITY PRESIDENT 588800 311223 0 0 55079 31559 0 59193 0 18575 643879 420550 0 0 JOHN C ALEXANDER CIO 80833 167970 25014 0 0 16836 0 9309 0 6870 105847 200985 0 0 PART I, LINE 1A TRAVEL EXPENSES FOR THE SPOUSE OF THE CLEMSON UNIVERSITY SENIOR FUNDRAISING EMPLOYEE, THE PRESIDENT OF CLEMSON UNIVERSITY, ARE PAID WHEN A BONA FIDE BUSINESS PURPOSE EXISTS, WITH SUCH EXPENSES REVIEWED AND APPROVED BY SENIOR MANAGEMENT. AS EXPENSES ARE INCURRED FOR BUSINESS PURPOSES, THEY ARE NOT TREATED AS TAXABLE INCOME. THE SENIOR FUNDRAISING EMPLOYEE OF THE CLEMSON UNIVERSITY FOUNDATION, THE PRESIDENT OF CLEMSON UNIVERSITY, IS PROVIDED A FAMILY MEMBERSHIP TO A GOLF FACILITY, THE VALUE OF WHICH IS INCLUDED IN THE W-2 FOR THIS EMPLOYEE AS TAXABLE INCOME. PART I, LINE 4B THE PRESIDENT OF CLEMSON UNIVERSITY HAS A SECTION 457(F) DEFERRED COMPENSATION PLAN BASED ON PERFORMANCE METRICS WITH THE ANNUAL AMOUNT CONTRIBUTED TO THE PLAN DETERMINED BY THE CLEMSON UNIVERSITY BOARD OF TRUSTEES. THE PLAN IS FUNDED BY THE CLEMSON UNIVERSITY FOUNDATION. $50,000 WAS PAID OUT UNDER THIS PLAN DURING THE TAX REPORTING PERIOD. ADDITIONALLY, A SUPPLEMENTAL RETIREMENT IS PROVIDED BY THE CLEMSON UNIVERSITY FOUNDATION IN THE FORM OF A COLLATERAL ASSIGNMENT SPLIT DOLLAR (CASD) ARRANGEMENT. SEE SCHEDULE L, PART V FOR A BROADER DESCRIPTION. PART I, LINE 7 BOTH THE CEO'S AND CIO'S TOTAL COMPENSATION INCLUDES BASE COMPENSATION FOR SERVICES ALONG WITH VARIABLE COMPENSATION POTENTIAL. VARIABLE COMPENSATION, IF ANY, IS DETERMINED AT THE CLOSE OF THE FISCAL YEAR BASED UPON PRE-ESTABLISHED CRITERIA AND SUBJECT TO APPROVAL BY THE HUMAN RESOURCES COMMITTEE AND FULL BOARD. JAMES CLEMENTS KEY EMPLOYEE SEE PART V X 650000 657878 0 1 1 657878 SCHEDULE L, PART II THE FOUNDATION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE ARRANGEMENT IS CONSIDERED A LOAN FOR TAX PURPOSES, NO FUNDS ARE TRANSFERRED TO THE EXECUTIVE. CASD WORKS AS FOLLOWS: THE FOUNDATION DEPOSITS FUNDS INTO A CASH VALUE LIFE INSURANCEPOLICY ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST THE VALUES IN THE POLICY TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE FOUNDATION'S RECOVERY RIGHTS. AT THE DEATHS OF THE EXECUTIVE AND HIS SPOUSE, THE POLICY DEATH PROCEEDS ARE FIRST USED TO REPAY THE FOUNDATION ITS DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY THEN RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. ANY REMAINING DEATH PROCEEDS ARE AVAILABLE TO BE PAID TO THE EXECUTIVE'S BENEFICIARY. THE RECOVERY RIGHT IS A KEY ADVANTAGE OF A CASD FOR THE FOUNDATION. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER CASD THE FOUNDATION RECOVERS NOT ONLY ITS OUTLAYS, BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY. NOTE THE DIFFERENCE BETWEEN THE AMOUNT REPORTED ON FORM 990, PART X, LINE 5 AND SCHEDULE L IS DUE TO THE FACT THAT FOR GAAP THE LOAN AMOUNT IS RECORDED AT THE LESSER OF (1) CASH SURRENDER VALUE PLUS ANY PREMIUM DEPOSIT ACCOUNT AND TAX ACCOUNT BALANCES OR (2) PREMIUM "LOAN" PLUSACCRUED INTEREST. FORM 990, PART X, LINE 5 SHOWS THE CASH SURRENDER VALUE FOR AUDITED FINANCIAL STATEMENT PURPOSES WHILE SCHEDULE L REPORTS THE PREMIUM "LOAN" PLUS ACCRUED INTEREST. X 77 4698422 AVERAGE MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE HAS AUTHORITY TO TAKE OFFICIAL ACTION BETWEEN MEETINGS OF THE FULL BOARD ON ALL MATTERS, EXCEPT THE ADOPTION OF MODIFICATION OF THE ORGANIZATION'S CONSTITUTION, BASIC POLICY PRONOUNCEMENTS REGARDING GOVERNANCE OF THE ORGANIZATION, AND ACTIONS SPECIFIED IN SOUTH CAROLINA CODE SECTION 33-31-825(E). COMPOSITION OF THE EXECUTIVE COMMITTEE INCLUDES THE FOLLOWING VOTING BOARD MEMBERS: CHAIR, VICE CHAIR, AND IMMEDIATE PAST CHAIR OF THE BOARD, CHAIRS OF THE STANDING BOARD COMMITTEES, AND THE BOARD CHAIR OF TWO AFFILIATED ORGANIZATIONS. ADDITIONALLY, SEVERAL EX-OFFICIO/NON-VOTING MEMBERS OF THE FULL BOARD ARE INCLUDED. FORM 990, PART VI, SECTION A, LINE 4 DURING THE FISCAL YEAR ENDED JUNE 30, 2020, THE FOUNDATION MADE THE FOLLOWING SIGNIFICANT CHANGES TO THE BYLAWS: 1) THE NUMBER OF ELECTED DIRECTORS WAS REDUCED FROM 36 DIRECTORS TO 16 TO 20 DIRECTORS. 2) THE NUMBER OF EX-OFFICIO VOTING DIRECTORS WAS REDUCED FROM 7 TO 4. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING, WITH THE GOVERNANCE COMMITTEE CHARGED WITH REVIEWING THE 990 IN DETAIL. FORM 990, PART VI, SECTION B, LINE 12C CLEMSON UNIVERSITY FOUNDATION BOARD AND KEY EMPLOYEES RECEIVE A COPY OF THE CODE OF CONDUCT WITH THE CONFLICT OF INTEREST POLICY ANNUALLY FOR REVIEW AND SIGNATURE. ANY DIRECTOR OR OFFICER WHO HAS AN INTEREST IN A CONTRACT, A NON-PASSIVE INVESTMENT OR OTHER TRANSACTION PRESENTED TO THE BOARD OF DIRECTORS OR A COMMITTEE THEREOF FOR AUTHORIZATION, APPROVAL OR RATIFICATION SHALL MAKE A PROMPT AND FULL DISCLOSURE OF HIS OR HER INTEREST TO THE BOARD OF DIRECTORS OR SUCH COMMITTEE PRIOR TO ANY ACTION ON SUCH CONTRACT OR TRANSACTION BY THE BOARD OF DIRECTORS OR SUCH COMMITTEE. IF A CONFLICT IS DEEMED TO EXIST, SUCH PERSON SHALL NOT VOTE ON, NOR USE HIS OR HER PERSONAL INFLUENCE ON, NOR PARTICIPATE IN (OTHER THAN TO PRESENT FACTUAL INFORMATION OR TO RESPOND TO QUESTIONS) THE DISCUSSIONS OR DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO AND OTHER OFFICERS IS SET BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF DIRECTORS FOR THE CLEMSON UNIVERSITY FOUNDATION. THE PROCESS INCLUDES AN ANNUAL COMPENSATION REVIEW WITH ANALYSIS OF DATA FOR COMPARABLE POSITIONS AT SIMILAR INSTITUTIONS, AS WELL AS CONSIDERATION OF THE STANDARDIZED CLASSIFICATION AND COMPENSATION PROCESS FOR THIS POSITION AS DETERMINED BY CLEMSON UNIVERSITY'S OFFICE OF HUMAN RESOURCES UNDER THE GUIDELINES ESTABLISHED BY THE STATE OF SOUTH CAROLINA. THE PROCESS IS DOCUMENTED AND ACTION MEMORIALIZED AS A PART OF THE PERMANENT MINUTES OF BOTH THE HUMAN RESOURCES COMMITTEE AND THE FULL BOARD. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND UPON REQUEST. EXEMPT ORGANIZATION STATUS WAS FILED IN 1933 AND FILING DOCUMENTS ARE NOT AVAILABLE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF LIFE INSURANCE POLICIES -452,183. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -743,282. CUF DATA ADMINISTRATOR LLC PO BOX 1889 CLEMSON SC 29633 831031436 ADMINISTRATION OF INFORMATION TECHNOLOGY SERVICES SC 0 23397 CLEMSON UNIVERSITY FOUNDATION CLEMSON UNIVERSITY ADMIN SERVICES BLDG 108 PERIMETER R CLEMSON SC 29634 576000254 RESEARCH UNIVERSITY EDUCATING UNDERGRADUATE AND GRADUATE STUDENTS SC 170(C)(1) N/A 0 CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION PO BOX 1889 CLEMSON SC 29633 274127041 TO RECEIVE, HOLD, DEVELOP, MANAGE, OR SELL REAL ESTATE FOR CLEMSON UNIV. SC 501(C)(3) LINE 12A, I N/A 0 CLEMSON UNIVERSITY REAL ESTATE FOUNDATION PO BOX 1889 CLEMSON SC 29633 570933257 RECEIVE AND STEWARD GIFTS OF REAL ESTATE FOR THE BENEFIT OF CLEMSON UNIV. SC 501(C)(3) LINE 12A, I N/A 0 CHARITABLE REMAINDER ANNUITY TRUSTS (3) TRUST SC N/A T 0 CHARITABLE REMAINDER TRUSTS (44) TRUST SC N/A T 0 CLEMSON UNIVERSITY FOUNDATION HOLDINGS LLC 155 OLD GREENVILLE HWY STE 105 CLEMSON SC 29631 813206816 INVESTMENTS SC CLEMSON UNIVERSITY FOUNDATION C 1.00000 1 0 1 1 1 1 0 0 0 0 0 0 1 1 1 1 1 1 1 1 CLEMSON UNIVERSITY B 27189454 BOOK CLEMSON UNIVERSITY E 201601857 BOOK CLEMSON UNIVERSITY O 2683614 BOOK CLEMSON UNIVERSITY Q 1960564 BOOK