2021-12-06T13:24:09-06:00 2021-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2020-07-01 237069236 COLLEGE OF CHARLESTON FOUNDATION COLL 8439533130 66 GEORGE STREET CHARLESTON SC 29424 DEBYE ALDERMAN ASSISTANT TREASURER 8439533130 2021-12-03 1 DEBYE ALDERMAN 999009999 AMY BIBBY P00445891 8282542254 2021-12-03 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DEBYE ALDERMAN 66 GEORGE STREET CHARLESTON SC 29424 63255176 0 X GIVING.COFC.EDU/FOUNDATION X 1970 SC TO PROMOTE EDUCATION, RESEARCH, AND DEVELOPMENT PROGRAMS FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE OF CHARLESTON 35 35 5 44 -130430 0 9335691 9158089 0 0 1499178 -12394 1066092 979538 11900961 10125233 4926622 6595305 0 0 2665624 2803830 138000 138000 1317251 4219959 3021440 11950205 12558575 -49244 -2433342 143872892 175127185 1518590 1912080 142354302 173215105 X THE MISSION OF THE COLLEGE OF CHARLESTON FOUNDATION IS TO PROMOTE PROGRAMS OF EDUCATION, RESEARCH, STUDENT DEVELOPMENT, AND FACULTY DEVELOPMENT FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE OF CHARLESTON. 0 0 7548346 6392840 SEE SCHEDULE O FOR A COMPLETE DESCRIPTION OF OUR ACCOMPLISHMENTSTHE COLLEGE OF CHARLESTON FOUNDATION HAS BEEN DEDICATED TO SUPPORTING THE ACTIVITIES AND GOALS OF THE COLLEGE FOR MORE THAN 50 YEARS. IN DOING SO, THE FISCAL YEAR ENDING JUNE 30, 2021 GARNERED NEARLY $20.3 MILLION IN TOTAL COMMITMENTS, A NEW HIGH-WATERMARK AND AN INCREASE OF MORE THAN 14 PERCENT OVER THE PREVIOUS FISCAL YEAR.SEVERAL POINTS OF PRIDE EMERGE FROM THE FOUNDATION'S FY21 ACCOMPLISHMENTS: A TOTAL OF 6,336 DONORS SUPPORTED THE COLLEGE $11.5 MILLION IN CASH, STOCK AND IN-KIND RECEIPTS 18 NEW RESTRICTED FUNDS AND 46 NEW ENDOWMENT FUNDS WERE CREATED $7.8 MILLION SECURED IN ESTATE INTENTIONS, AN INCREASE OF 21% FROM FY20 ALUMNI DONORS LEAD ALL CONSTITUENCIES, WITH MORE THAN $10.2 MILLION IN COMMITMENTS, A 40% INCREASE FROM FY20 AND 3,096 DONORS, A 24% INCREASE FROM FY20 THE SECOND LEADING CONSTITUENCY IS FOUNDATIONS, WITH MORE THAN $3.1 MILLION IN COMMITMENTS AND 106 FOUNDATION DONORS CORPORATIONS GAVE A TOTAL OF NEARLY $1.5 MILLION, AN INCREASE OF 84% FROM FY20 APPROXIMATELY 843 STUDENTS RECEIVED 1,091 SCHOLARSHIPS FUNDED THROUGH PHILANTHROPY FROM NEARLY $4 MILLION MADE AVAILABLE IN SCHOLARSHIPS AND AWARDSTHE SECOND ANNUAL COFC DAY TOOK PLACE ON JANUARY 28, 2021 AND WAS ANOTHER HUGE SUCCESS RAISING A TOTAL OF $9,693,000 IN TOTAL COMMITMENTS FROM 1,927 DONORS. COFC DAY IS NOT ONLY A SUCCESSFUL FUNDRAISING DRIVE BUT IS ALSO QUICKLY BECOMING A WAY TO INSTILL PRIDE AND SPIRIT INTO THE HEARTS AND MINDS OF ALUMNI, PARENTS, FRIENDS, FACULTY/STAFF AND STUDENTS. WHILE THE FOUNDATION ENJOYED NUMEROUS ACCOMPLISHMENTS DURING THE LAST FISCAL YEAR, THE COVID-19 PANDEMIC CONTINUES TO PRESENT UNIQUE AND LIKELY LONG-LASTING CHALLENGES TO THE COLLEGE AND THE FOUNDATION. 3031461 202465 SEE SCHEDULE O FOR A COMPLETE DESCRIPTION OF OUR ACCOMPLISHMENTSTHE STORIES OF INSPIRATION AND MOTIVATION THAT TAKE PLACE BEHIND THE FIGURES SHOWCASE HOW GIVING IMPACTS THE COLLEGE OF CHARLESTON CAMPUS. THE FOLLOWING ARE EXAMPLES OF THE COMMITMENTS THAT SUSTAIN THE COLLEGE'S EFFORTS TO PROVIDE EXCELLENCE IN EDUCATION:SCHOLARSHIPS/AWARDS AN ANONYMOUS DONOR PLEDGED $4 MILLION IN AN ESTATE PLAN TO THE ANONYMOUS CW SCHOLARSHIP. SUSI BEATTY COMMITTED $500,000 TO THE SUSI BEATTY BIG CAT SCHOLARSHIP. THE LETTIE PATE WHITEHEAD FOUNDATION PLEDGED $192K TO THE LETTIE PATE WHITEHEAD FOUNDATION SCHOLARSHIP, CONTINUING ITS 27+ YEAR HISTORY OF SUPPORTING SCHOLARSHIPS AT THE COLLEGE. USA WASTE MANAGEMENT, INC. CONTRIBUTED $333,333 AS PART OF A LIFE INSURANCE POLICY PAYOUT TO THE O.M. AND BERTIE H. EDWARDS SCHOLARSHIP. PHILIP ANDERSON COMMITTED $1.5 MILLION IN HIS ESTATE TO CONTINUE SUPPORTING THE JAMES P. AND CAROLYN N. ANDERSON ENDOWED ALUMNI SCHOLARSHIP.HONORS COLLEGE MR. AND MRS. MICHAEL SHEMTOV PLEDGED $50,000 IN THEIR ESTATE PLAN TO THE HONORS COLLEGE - DEAN'S EXCELLENCE FUND.LIBRARIES STEPHANIE SMITH-PHILLIPS AND JAMES H. PHILLIPS THROUGH THE WILBUR S. SMITH AND STEPHANIE E. SMITH-PHILLIPS FOUNDATION GAVE $10,000 TO SUPPORT THE LGBTQ DOCUMENTATION PROJECT.SCHOOL OF THE ARTS JOY K. HALLINAN PLEDGED $100,000 IN HER ESTATE PLAN TO THE JOY KURTS HALLINAN '82 ENDOWMENT FOR THE HALSEY INSTITUTE OF CONTEMPORARY ART. DR. WILLIAM GAUD DONATED $100,000 TO CONTINUE SUPPORTING THE FRANCES GRIMBALL GAUD PROFESSOR OF ART. ROBERT LUKEY COMMITTED $72,500 TO CREATE THE JOHN COVINGTON AND ROBERT LUKEY PERFORMING ARTS ENDOWED SCHOLARSHIP FOR STUDENTS IN THE MASTER OF ARTS IN TEACHING - PERFORMING ARTS PROGRAM.SCHOOL OF LANGUAGES, CULTURES, AND WORLD AFFAIRS SABRA HORNE AND JOHN KEEFE PLEDGED A SEVEN-FIGURE GIFT IN THEIR ESTATE PLAN TO SUPPORT SCHOOL OF HUMANITIES & SOCIAL SCIENCES - DEAN'S EXCELLENCE. ESTHER B. FERGUSON GAVE A TOTAL OF $300,000 TO SUPPORT THE ESTHER B. FERGUSON ENDOWED TRUJILLO FUND. THIS SCHOLARSHIP FUND IS FOR STUDENTS WHO STUDY ABROAD AT THE FOUNDATION'S PROPERTY IN TRUJILLO, SPAIN WHICH MRS. FERGUSON AND HER LATE HUSBAND GAVE TO THE FOUNDATION. THE EASTWEST INSTITUTE COMMITTED $1 MILLION TO ESTABLISH THE EWI DISTINGUISHED VISITING FELLOWS PROGRAM ENDOWMENT AND $150,000 FOR A CORRESPONDING OPERATING FUND; $650,000 FOR THE JOHN EDWIN MROZ GLOBAL LEADERSHIP INSTITUTE ENDOWMENT; AND $240,000 FOR THE EWI HISTORY PROJECT FUND. SAMUEL FREEMAN CHARITABLE TRUST FOUNDATION PLEDGED $100,000 TO SUPPORT THE INTERNATIONAL SCHOLARS PROGRAM, GLOBAL LEADERSHIP INSTITUTE, MROZ INSTITUTE STUDY ABROAD & INTERNATIONAL INTERNSHIP SCHOLARSHIPS. THE MARSHALL AND ARLENE BENNETT FAMILY FOUNDATION COMMITTED $475,000 TO SUPPORT THE EWI HISTORY PROJECT FUND, THE MARSHALL AND ARLENE BENNETT ENDOWED DIRECTORSHIP AND A CORRESPONDING RESTRICTED FUND.ATHLETICS MR. AND MRS. PHILIP ANKER DONATED NEARLY $50,000 TO THE SAILING DOCK PROJECT SUSAN L. BEATTY GAVE $650,000 TO SUPPORT THE MEN'S BASKETBALL PROGRAMMULTIDISCIPLINARY PROGRAMS AN ANONYMOUS DONOR GAVE $100,000 TO SUPPORT THE RACE AND SOCIAL JUSTICE INITIATIVE. TAP AND JEAN JOHNSON COMMITTED $200,000 TO THE 1967 LEGACY SCHOLARS PROGRAM TO SUPPORT SCHOLARSHIPS, STUDY-ABROAD EXPERIENCES AND THE PROGRAM. RON AND CYNTHIA THOMPSON COMMITTED $190,000 TO CREATE THE CONSTANCE MORRISON THOMPSON AND ROBERT F. MORRISON FAMILY LEGACY SCHOLARSHIP IN THE 1967 LEGACY PROGRAM.SCHOOL OF SCIENCES AND MATHEMATICS GOOGLE, INC. DONATED $100,000 TO SUPPORT ENGINEERING SCHOLARSHIPS. EXXONMOBIL FOUNDATION COMMITTED $15,000 TO MATCH GIFTS MADE TO THE GEOLOGY ALUMNI ENDOWED AWARD. ROBERT LUKEY COMMITTED $60,000 TO ESTABLISH THE JOHN COVINGTON AND ROBERT LUKEY ENDOWED SCHOLARSHIP FOR PRE-MED STUDENTS.SCHOOL OF BUSINESS ARGUS SOFTWARE, INC. DONATED $606,000 IN IN-KIND SOFTWARE TO THE CARTER REAL ESTATE CENTER. MERCEDES-BENZ VANS, LLC PROVIDED $40,000 IN SUPPORT TO THE MERCEDES-BENZ VANS SCHOLARS PROGRAM AND THE DEAN'S EXCELLENCE FUND.SCHOOL OF HUMANITIES AND SOCIAL SCIENCES TERRI HENNING DONATED $25,126 TO THE WOMEN'S STUDIES PROGRAM.SCHOOL OF EDUCATION, HEALTH, AND HUMAN PERFORMANCE DOMINION ENERGY CHARITABLE FOUNDATION DONATED $50,000 TO SUPPORT THE CALL ME MISTER SCHOLARSHIP. THE BEEMOK FAMILY FOUNDATION COMMITTED $1.2 MILLION TO SUPPORT TWO POSITIONS IN THE SCHOOL OF EDUCATION, THE DEAN AND EXECUTIVE-IN-RESIDENCE. THE DONOR ALSO COMMITTED $45,000 TO SUPPORT THE HIRING OF A SEARCH FIRM.UNRESTRICTED THE FOUNDATION BOARD SPEARHEADED THE ESTABLISHMENT OF AN UNRESTRICTED QUASI-ENDOWMENT FUND IN FY21. NEARLY $200,000 WAS RAISED IN THE FISCAL YEAR TO THE FUND. 10579807 1 1 0 0 0 0 0 1 0 1 1 1 1 0 1 1 1 1 0 1 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 148 0 1 5 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 35 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X X DEBYE ALDERMAN 8439537458 66 GEORGE ST CHARLESTON SC 29424 PEGGY G BOYKIN CHAIR 1.00 X X 0 0 0 STEPHEN R KERRIGAN VICE CHAIR 1.00 X X 0 0 0 LAURA T RICCIARDELLI SECRETARY 1.00 X X 0 0 0 R KEITH SAULS TREASURER 1.00 X X 0 0 0 TODD ABEDON DIRECTOR 1.00 X 0 0 0 JOHNNIE BAXLEY DIRECTOR 1.00 X 0 0 0 MARK J BUONO DIRECTOR 1.00 X 0 0 0 LISA B BURBAGE DIRECTOR 1.00 X 0 0 0 JOHN B CARTER JR DIRECTOR 1.00 X 0 0 0 ERIC S COX DIRECTOR 1.00 X 0 0 0 SCOTT A CRACRAFT DIRECTOR 1.00 X 0 0 0 TINA M CUNDARI DIRECTOR 1.00 X 0 0 0 GEORGE FRAGGOS DIRECTOR 1.00 X 0 0 0 NEIL W DRAISIN DIRECTOR 1.00 X 0 0 0 CRAIG ENEY DIRECTOR 1.00 X 0 0 0 ROBBIE FREEMAN DIRECTOR 1.00 X 0 0 0 LESLIE GAMBEE DIRECTOR 1.00 X 0 0 0 KENNETH GUSTAFSON DIRECTOR 1.00 X 0 0 0 FLEETWOOD S HASSELL DIRECTOR 1.00 X 0 0 0 AMY L HEYEL DIRECTOR 1.00 X 0 0 0 THEODORE HOWIE JR DIRECTOR 1.00 X 0 0 0 REBA KINNE HUGE DIRECTOR 1.00 X 0 0 0 JEAN W JOHNSON DIRECTOR 1.00 X 0 0 0 JEFFERY E KINARD DIRECTOR 1.00 X 0 0 0 NOAH LEASK DIRECTOR 1.00 X 0 0 0 MITSY MANGUM DIRECTOR 1.00 X 0 0 0 H CHAPMAN MCKAY DIRECTOR 1.00 X 0 0 0 JUSTIN R MCLAIN DIRECTOR 1.00 X 0 0 0 CHARLES MOSTELLER DIRECTOR 1.00 X 0 0 0 PATRICIA ORY DIRECTOR 1.00 X 0 0 0 RALLIS PAPPAS DIRECTOR 1.00 X 0 0 0 DERRICK WILLIAMS DIRECTOR 1.00 X 0 0 0 SHERRIE C SNIPES-WILLIAMS DIRECTOR 1.00 X 0 0 0 SAM STAFFORD III DIRECTOR 1.00 X 0 0 0 KATHERINE WILLIAMS DIRECTOR 1.00 X 0 0 0 MR CHRIS TOBIN EVP-COFC, EXC DIR OF FOUNDATION 20.00 20.00 X 44990 180330 4678 MS DEBYE ALDERMAN ASSISTANT TREASURER 20.00 20.00 X 0 113267 721 MR ANDREW HSU PRESIDENT, COFC 20.00 20.00 X 205167 237315 6932 SUZANNE AUSTIN PROVOST, COFC 20.00 20.00 X 50000 127418 1110 DR ALAN SHAO DEAN, SCHOOL OF BUSINESS - COFC 10.00 30.00 X 61800 260771 3426 361957 919101 16867 1 0 1 0 EDUCATION ADVISORY BOARD PO BOX 603519 CHARLOTTE NC 282603519 CONSULTING 198351 ARAMARK 66 GEORGE STREET CHARLESTON SC 29424 CATERING SERVICES 164361 BLACKBAUD PO BOX 930256 ATLANTA GA 311930256 SOFTWARE 141276 BB&T FINANCIAL FSB 151 MEETING STREET CHARLESTON SC 29401 BANKING & FINANCIAL SERVICES 126068 4 9158089 1119113 9158089 2445 -130430 132875 695491 0 695491 695491 695491 53115104 53119163 10780 -4059 -10780 -14839 -14839 -8537 0 -8537 -8537 OTHER REVENUE 900099 285580 285580 LICENSE TAG INCOME 900099 7004 7004 292584 10125233 0 -130430 1097574 6392840 6392840 202465 202465 300157 255167 22495 22495 2086836 1307914 204696 574226 356101 233187 33893 89021 60736 39772 5781 15183 71553 34046 37507 138000 138000 38189 5746 32443 372628 209455 108992 54181 74535 53662 20873 1428767 1246678 62739 119350 117258 6120 22317 88821 166842 103400 63442 66700 63620 2140 940 207916 191887 10481 5548 262302 194363 67939 13349 13349 MISCELLANEOUS EXPENSE 152241 2771 149470 RECRUITMENT 20276 19951 325 PROFESSIONAL DEVELOPMEN 16314 9939 6375 STUDENT DEVELOPMENT 12570 12570 12558575 10579807 661517 1317251 684668 769024 1300217 6805655 5887854 1056078 1389156 26262 169809 161700 9242571 3814547 5657707 5428024 34407653 584897 85654958 150140007 9326373 9371873 83729 94433 143872892 175127185 109601 204476 1357334 1658433 6389 45266 49171 1518590 1912080 X 15789892 21718323 126564410 151496782 142354302 173215105 143872892 175127185 X -2433342 33373570 -79425 X X 0 1 X 1 0 X 8811420 14325917 10764964 9335691 9158089 52396081 8811420 14325917 10764964 9335691 9158089 52396081 4217347 48178734 1826180 1843678 2033502 804317 697940 7205617 425566 404991 401070 375420 284047 1891094 61492792 0.78350 0.78310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45500 9371873 X X X 0 101377805 3700036 28376441 4872076 128582206 97196990 2276517 6131617 4227319 101377805 89204537 4981129 6720991 3709667 97196990 77346847 8488149 6991948 3622407 89204537 55908235 16272153 8052113 2885654 77346847 0.07680 0.92320 0 0 3665943 3665943 2249254 2204938 44316 1970846 1419963 550883 1356528 189646 1166882 5428024 TIFF KEYSTONE FUND 150140007 F 150140007 COLLECTIONS OF ART AND HISTORICAL TREASURES 9371873 C 9371873 ANNUITIES PAYABLE 49171 49171 X 43714811 33373570 221674 33595244 10119567 5666 5666 10125233 12854008 301099 301099 12552909 5666 5666 12558575 PART III, LINE 4: THE COLLEGE OF CHARLESTON FRIENDS OF THE LIBRARY'S MISSION IS TO ADVANCE INTELLECTUAL AND CULTURAL EXCELLENCE ON OUR CAMPUS AND THROUGHOUT THE COMMUNITY. PART OF THAT MISSION INCLUDES ENHANCING THE HOLDINGS IN SPECIAL COLLECTIONS AT THE MARLENE AND NATHAN ADDLESTONE LIBRARY. SPECIAL COLLECTIONS IS COMPRISED OF RARE AND VALUABLE BOOKS, MANUSCRIPTS, AND OTHER COLLECTIBLES THAT SUPPORT RESEARCH BY STUDENTS, FACULTY, AND VISITING SCHOLARS. IN RECENT YEARS, SPECIAL COLLECTIONS STAFF IDENTIFIED SEVERAL SIGNIFICANT TITLES THAT WOULD BE STRATEGIC ACQUISITIONS TO CURRENT COLLECTIONS. THE STAFF WAS ABLE TO SECURE THESE ACQUISITIONS AND TO DATE ALL HAVE BEEN USED BY STUDENTS OR FACULTY FOR RESEARCH PAPERS AS PART OF SEVERAL ACADEMIC COURSES TAUGHT AT THE COLLEGE OF CHARLESTON. THESE ACQUISITIONS WOULD NOT HAVE BEEN POSSIBLE WITHOUT PRIVATE SUPPORT. THE IMPACT OF THESE TITLES ON THE ENTIRE CAMPUS AND THE COMMUNITY IS ENDLESS AND IMMEASURABLE. IN TIME, WITH SUPPORT OF THE FRIENDS OF THE LIBRARY, THE STAFF IN SPECIAL COLLECTIONS HOPES TO CONTINUOUSLY GROW THE COLLECTIONS IN THE SAME MANNER. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 635 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED PERPETUAL ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2021. CONTRIBUTIONS MADE TO THE FOUNDATION QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 509(A)(1) AND 170(B)(1)(A)(IV) OF THE INTERNAL REVENUE CODE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES INCLUDED IN REVENUE CHANGE IN ALLOWANCE FOR UNCOLLECTIBLE PROMISES TO GIVE 202,336. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 19,338. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES INCLUDED IN REVENUE CHANGE IN VALUE OF MARINE GENOMICS GRANT 301,099. EUROPE 1 0 PROGRAM SERVICE A PROPERTY IN TRUJILLO, SPAIN, WAS DONATED TO THE COLLEGE OF CHARLESTON FOR USE IN THE STUDY ABROAD PROGRAM. THE PROPERTY IS NOW BEING USED AS THE RESIDENCE FOR THE PROFESSORS INVOLVED IN THIS PROGRAM. THE FOUNDATION'S DUTY IS TO MAINTAIN AND MANAGE THE PROPERTY. 51100 0 0 0 0 0 0 51100 0 51100 1 0 0 0 0 0 PART III ACCOUNTING METHOD: X X 0 EAB 2445 M ST NW WASHINGTON DC 20037 DIRECT MAIL/EMAIL 0 136876 137590 -714 136876 137590 -714 1 COLLEGE OF CHARLESTON 66 GEORGE ST CHARLESTON SC 29424 576000265 IRC 115 6140455 COLLEGE OF CHARLESTON: GRANTS PROVIDED TO THE COLLEGE OF CHARLESTON ARE USED TO PROMOTE PROGRAMS OF EDUCATION, RESEARCH, STUDENT DEVELOPMENT, AND FACULTY DEVELOPMENT IN ACCORDANCE WITH THE MISSION STATEMENT OF THE FOUNDATION. COLLEGE OF CHARLESTON ALUMNI ASSOCIATION PO BOX 20216 CHARLESTON SC 29413 570760038 501C3 150000 COLLEGE OF CHARLESTON ALUMNI ASSOCIATION: PER A MEMORANDUM OF UNDERSTANDING (MOU) WITH THE ALUMNI ASSOCIATION OF THE COLLEGE OF CHARLESTON, THE COLLEGE OF CHARLESTON FOUNDATION SHALL PROVIDE AN AGREED UPON AMOUNT OF ANNUAL SUPPORT TO ENHANCE ALUMNI ENGAGEMENT AND PROGRAMS, WITH PAYMENTS DUE AT THE BEGINNING OF EACH QUARTER. THE MOU WAS EXECUTED ON DECEMBER 7, 2012 AND EFFECTIVE RETROACTIVELY TO JULY 1, 2012 FOR A THREE-YEAR PERIOD WITH THE APPROVAL OF THE FOUNDATION BOARD OF DIRECTORS AND THE ALUMNI ASSOCIATION BOARD OF DIRECTORS. THE MOU WAS RENIGOTIATED IN 2015 FOR AN ADDITIONAL THREE YEARS. FOR THE FISCAL YEAR JULY 1, 2019 - JUNE 30, 2022 THE FOUNDATION PAID THE ALUMNI ASSOCIATION $150,000 IN ACCORDANCE WITH THE MOU. COLLEGE OF CHARLESTON COUGAR CLUB 307 MEETING ST CHARLESTON SC 29401 570640443 501C3 96865 COLLEGE OF CHARLESTON COUGAR CLUB: OPERATIONAL SUPPORT 3 ACADEMIC & ACHIEVEMENT AWARDS 228 202465 PART I, LINE 2: GRANTS TO ORGANIZATIONS: THROUGH ITS REPRESENTATIVES ON THE ALUMNI BOARD AND THE COUGAR CLUB BOARD, THE FOUNDATION IS ABLE TO MONITOR FINANCIAL AND PROGRAM ACTIVITY FOR EACH OF THESE RESPECTIVE ORGANIZATIONS. WITH REGARD TO THE COLLEGE OF CHARLESTON, THE FOUNDATION WAS ESTABLISHED TO PROMOTE PROGRAMS OF EDUCATION, RESEARCH, STUDENT DEVELOPMENT, AND FACULTY DEVELOPMENT FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE OF CHARLESTON. IN ADDITION, THE FOUNDATION AND THE COLLEGE OF CHARLESTON HAVE EXECUTED A MEMORANDUM OF AGREEMENT TO GUIDE EXPECTATIONS BETWEEN THE TWO ORGANIZATIONS. GRANTS/ASSISTANCE TO INDIVIDUALS: ACADEMIC & ACHEIVEMENT AWARDS ARE DISTRIBUTED BASED ON SPECIFIC CRITERIA ESTABLISHED IN DONOR GIFT AGREEMENTS AS WELL AS BY ACADEMIC UNITS AT THE COLLEGE OF CHARLESTON. THE ACADEMIC UNITS ARE RESPONSIBLE FOR SELECTING RECIPIENTS BASED ON ESTABLISHED CRITERIA. STUDENT EMERGENCY ASSISTANCE IS PROVIDED BASED ON AN APPLICATION PROCESS MANAGED BY THE COLLEGE OF CHARLESTON DIVISION OF STUDENT AFFAIRS, WHO SHALL SUBMIT APPROVED REQUESTS TO THE FOUNDATION FOR DISTRIBUTION TO A STUDENT. X X X X 0 0 0 0 0 0 0 0 0 MR ANDREW HSU PRESIDENT, COFC 205167 237315 0 0 0 0 0 0 0 6932 205167 244247 0 0 DR ALAN SHAO DEAN, SCHOOL OF BUSINESS - COFC 61800 260771 0 0 0 0 0 0 0 3426 61800 264197 0 0 MR CHRIS TOBIN EVP-COFC, EXC DIR OF FOUNDATION 44990 180330 0 0 0 0 0 0 0 4678 44990 185008 0 0 SUZANNE AUSTIN PROVOST, COFC 50000 127418 0 0 0 0 0 0 0 1110 50000 128528 0 0 X 45550 FAIR MARKET VALUE X 75 777352 X SOFTWARE 1 606400 FAIR MARKET VALUE X GRAND PIANO 2 14000 FAIR MARKET VALUE X MISCELLANEOUS DONATIONS 3 2002 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTANT WITH ASSISTANCE AND OVERSIGHT BY MANAGEMENT. THE FULL BOARD WAS PROVIDED A LINK TO ACCESS THE COMPLETE FORM 990, ONLINE, PRIOR TO THE PRESENTATION TO THE MEMBERS OF THE AUDIT COMMITTEE. THE FORM 990 IS FILED WITH THE IRS FOLLOWING THE BOARD REVIEW ONLINE. THE AUDIT AND FINANCE COMMITTEES MEMBERS REVIEW THE FORM AND SUPPORTING SCHEDULES. FOLLOWING REVIEW BY THE COMMITTEES, THE CHAIR OF THE AUDIT COMMITTEE PRESENTS A SUMMARY REVIEW OF THE 990 TO THE BOARD. THE BOARD DOCUMENTS THIS REVIEW IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 12C A COPY OF THE CONFLICT OF INTEREST POLICY ALONG WITH A QUESTIONNAIRE IS DISTRIBUTED ANNUALLY TO EACH BOARD MEMBER. BOARD MEMBERS COMPLETE THE QUESTIONNAIRES AND RETURN THEM TO THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION'S EMPLOYEES ARE HIRED AND PAID BY THE COLLEGE OF CHARLESTON. THE FOUNDATION THEN REIMBURSES THE COLLEGE FOR PORTIONS OF THE EMPLOYEES' SALARY COSTS. THE HIRING PROCESS IS MONITORED BY THE HUMAN RESOURCES DEPARTMENT OF THE COLLEGE OF CHARLESTON AND IS SUBJECT TO THE COLLEGE'S POLICIES AND PROCEDURES. IN RECENT YEARS WHEN HIRING OFFICERS AND KEY EMPLOYEES, THE COLLEGE HAS CONTRACTED WITH AN OUTSIDE EXECUTIVE SEARCH FIRM WHO ASSISTS IN LOCATING AND INTERVIEWING CANDIDATES. THE FOUNDATION CONSULTS WITH THE SEARCH FIRM AND USES THE FIRM'S EXPERIENCE AND EXPERTISE IN DETERMINING COMPENSATION PACKAGES FOR THESE INDIVIDUALS THAT ARE COMPARABLE TO THOSE OF SIMILAR ORGANIZATIONS. COMPENSATION FOR THE TOP EXECUTIVE, THE EXECUTIVE DIRECTOR OF THE FOUNDATION, IS APPROVED BY THE CHAIR OF THE BOARD, PRIOR TO HIRING. FORM 990, PART VI, SECTION C, LINE 18 PHOTOCOPIES OF THE FORM 990 ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S ACCOUNTING OFFICE. IN ADDITION, RECENT FILINGS OF THE FORM 990 ARE AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG AND ON THE FOUNDATION'S WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE AND UPON REQUEST AT THE ORGANIZATION'S ADMINISTRATIVE OFFICES. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST 19,338. CHANGE IN ALLOWANCE OF UNCOLLECTIBLE PROMISES TO GIVE 202,336. CHANGE IN VALUE OF MARINE GENOMICS GRANT -301,099. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN THE FOUNDATION'S OVERSIGHT OR SELECTION PROCESSES FROM PRIOR YEARS. 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