2012-03-20T15:21:22-05:00 2011-06-30 CHERRY BEKAERT & HOLLAND LLP 201 WEST MCBEE AVENUE SUITE 200 GREENVILLE SC 29601 990 2010-07-01 570933257 CLEMSON UNIVERSITY REAL ESTATE FOUNDATION INC CLEM 8646561289 PO BOX 1889 CLEMSON SC 296331889 ALICE C EVATT 8646561289 2012-03-07 1 8642333981 2010 2016-02-24 21:20:13Z LAURA HASELDEN 155 OLD GVILLE HWY 105 CLEMSON SC 29631 4156473 0 X WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS/CUREF/ X 1990 SC TO RECEIVE AND INVEST GIFTS OF REAL ESTATE FOR CLEMSON UNIVERSITY AND CLEMSON UNIV. FOUNDATION 9 9 0 139 0 0 878074 3658604 0 0 0 0 600878 497869 1478952 4156473 0 0 0 0 278381 168731 0 0 0 455074 470834 733455 639565 745497 3516908 39641007 49254472 24131706 30228263 15509301 19026209 THE FOUNDATION EXISTS TO RECEIVE, MANAGE AND INVEST GIFTS OF REAL ESTATE FOR CLEMSON UNIVERSITY AND THE CLEMSON UNIVERSITY FOUNDATION. 0 0 639565 2062726 2093747 THE ENTITY EXISTS TO RECEIVE GIFTS OF REAL ESTATE AND HOLD OR SELL AND DISTRIBUTE THE PROCEEDS TO CLEMSON UNIVERSITY FOUNDATION (CUF) OR CLEMSON UNIVERSITY (CU) AS SPECIFIED BY THE DONORS (THROUGH CUREF). IN ADDITION, THE FOUNDATION MANAGES THE PROPERTIES AT THE CLEMSON UNIVERSITY INTERNATIONAL CENTER FOR AUTOMOTIVE RESEARCH (CU-ICAR) THROUGH LICAM LLC. THE FOUNDATION PURCHASES, LEASES, DEVELOPS, AND MORTGAGES REAL ESTATE FOR THE BENEFIT OF CU OR CUF THROUGH LICAR LLC. LICAR IS CONSTRUCTING A TECHNOLOGY INCUBATOR AT CU-ICAR FOR RENT TO AUTOMOBILE RELATED ENTITIES - ALL COSTS TO DATE ARE IN CONSTRUCTION IN PROGRESS. 639565 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 X 8 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X X CHERYL DEAN ASSOC COMPTROLLER 8646563630 ADMIN SERVICES BLDG 108 PERIMETER CLEMSON SC 296345306 ROBERT M MUNDY JR 1.00 X 0 0 0 GOSNALD GRAHAM SEGARS 1.00 X 0 0 0 WILLIAM L ABERCROMBIE JR 1.00 X 0 0 0 GEORGE E BIEDIGER 1.00 X 0 0 0 NEIL C ROBINSON JR 1.00 X 0 0 0 FRANK A MCLEOD III 1.00 X 0 0 0 CHRISTOPHER C PEARCE IV 1.00 X 0 0 0 WILLIAM CSMITH JR 1.00 X 0 0 0 PATRICIA H MCABEE 1.00 X 0 0 0 HARRISON F TRAMMELL 1.00 X 0 203192 22449 ALICE C EVATT 1.00 X 0 88507 18608 DONNA M GARRIS 1.00 X 0 40055 8207 LAURA H HASELDEN 1.00 X 0 43414 10440 ROBERT T GEOLAS 1.00 X 0 212021 41573 A NEILL CAMERON JR 1.00 X 0 229364 39335 BRETT A DALTON 1.00 X 0 209995 32445 JOHN V BOYETTE JR 37.50 X 0 154160 12188 0 1180708 185245 0 0 1 0 SHERMAN CONSTRUCTION COMPANY 1330 PIEDMONT HIGHWAY PIEDMONT SC 29673 CONSTRUCTION 6582459 LS3P ASSOCIATES LTD P O BOX 601577 CHARLOTTE NC 282601577 ARCHITECTS 101897 NELSON MULLINS RILEY & SCARBOROUGH LLP P O BOX 11009 COLUMBIA SC 29211 ATTORNEYS 101551 3 2062726 1595878 1261378 3658604 120179 120179 120179 120179 COMMON AREA MAINTENANC 531310 377690 377690 377690 4156473 0 0 497869 168731 168731 105688 105688 4395 4395 2340 2340 225121 225121 363 363 31623 31623 88687 88687 12617 12617 639565 639565 0 0 169563 239709 4827 780678 48416779 182694 39466617 48234085 39641007 49254472 43889 309740 1208989 1348837 1855175 7284323 21023653 21285363 24131706 30228263 X 687277 3023523 14822024 16002686 15509301 19026209 39641007 49254472 3516908 0 X X 0 1 1 X 1 1 X X X 0 0 0 CLEMSON UNIVERSITY 576000254 IRC 115 1 1 1 0 CLEMSON UNIV FOUNDATION 570426335 IRC 170(B)(1)(A)(IV) 1 1 1 0 2 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5579675 9528000 15107675 1100000 2365605 118290 3347315 504377 64404 439973 29339122 29339122 48234085 DUE TO CLEMSON UNIV. FOUNDATION 21036810 RETAINAGE PAYABLE 248553 21285363 4156473 639565 3516908 0 3516908 4156473 0 4156473 0 4156473 639565 0 639565 0 639565 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION ADOPTED THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ON JULY 1, 2009. THE FOUNDATION'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX PROVISION TAKEN THAT IS BENEFICIAL TO THE FOUNDATION, 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 THAT THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2011 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. FORM 990, PART IV, QUESTION 7: CONSERVATION EASEMENT: THE ORGANIZATION RECEIVED A GIFT OF LAND ON MARCH 16, 2006 WHICH REQUIRES A CONSERVATION EASEMENT ON ALL BUT 100 ACRES OF THE LAND. THE EASEMENT WILL BE PLACED WHEN THE 100 ACRES NOT COVERED BY THE EASEMENT ARE IDENTIFIED. 0 0 0 0 0 0 0 0 0 HARRISON F TRAMMELL 0 197068 0 0 0 6124 0 10061 0 12388 0 225641 0 0 ROBERT T GEOLAS 0 203883 0 0 0 8138 0 27458 0 14115 0 253594 0 0 A NEILL CAMERON JR 0 218966 0 0 0 10398 0 29109 0 10226 0 268699 0 0 BRETT A DALTON 0 209815 0 0 0 180 0 27658 0 4787 0 242440 0 0 JOHN V BOYETTE JR 0 154160 0 0 0 0 0 7725 0 4463 0 166348 0 0 SUPPLEMENTAL INFORMATION PART III THE FOLLOWING EMPLOYEES OF CLEMSON UNIVERSITY ARE EX-OFFICIO BOARD MEMBERS OF CLEMSON UNIVERSITY REAL ESTATE FOUNDATION (CUREF) A NEILL CAMERON JR BRETT A DALTON THE FOLLOWING ARE KEY EMPLOYEES OF CLEMSON UNIVERSITY: JOHN V BOYETTE JR ROBERT T GEOLAS HARRISON F TRAMMELL IS AN OFICER OF CUREF AND AN EMPLOYEE OF CLEMSON UNIVERSITY. X 2 1258139 APPRAISAL 1 0 1 1 THIRD PARTY USE: PART I, LINE 32B: PROPERTIES GIFTED TO CUREF ARE OFFERED FOR SALE THROUGH QUALIFIED REAL ESTATE BROKERS. REQUESTS FOR PROPOSALS ARE REQUESTED FROM BROKERS IN THE AREA WHERE PROPERTIES ARE LOCATED. A "BEST FIT, MOST RESPONSIVE" BROKER IS SELECTED TO LIST THE PROPERTY. OCCASIONALLY A DIRECTOR'S FIRM MAY BE SELECTED TO LIST PROPERTY. THE DIRECTOR DOES NOT VOTE ON SELECTION NOR PERSONALLY LIST THE PROPERTY. BACKUP WITHHOLDINGS FORM 990, PART V, LINES 1C: THERE WERE NO INSTANCES THAT REQUIRED BACKUP WITHHOLDINGS. FORM 990, PART VI, SECTION A, LINE 2 CUREF HAS A BUSINESS RELATIONSHIP WITH COLLIERS KENNAN TO OFFER PROPERTIES FOR SALE. ROY ABERCROMBIE, A VOTING DIRECTOR, IS AN EMPLOYEE OF COLLIERS KEENAN BUT IS NOT THE LISTING AGENT FOR THESE PROPERTIES. ALL OFFICERS OF CUREF ARE EMPLOYEES OF CLEMSON UNIVERSITY. TRAMMELL IS PRESIDENT & CEO OF CLEMSON UNIVERSITY FOUNDATION. EVATT IS TREASURER OF CLEMSON UNIVERSITY FOUNDATION. GARRIS IS SECRETARY OF CLEMSON UNIVERSITY FOUNDATION. HASELDEN IS ASST TREASURER OF CLEMSON UNIVERSITY FOUNDATION. CAMERON IS VP ADVANCEMENT FOR CLEMSON UNIVERSITY. THE FOLLOWING CLEMSON UNIVERSITY REAL ESTATE FOUNDATION BOARD MEMBERS SERVE AS VOTING DIRECTORS OF OTHER RELATED ORGANIZATIONS: ROY ABERCROMBIE - CLEMSON UNIVERSITY FOUNDATION GEORGE E BIEDIGER - CLEMSON UNIVERSITY FOUNDATION NEIL C ROBINSON JR - CLEMSON UNIVERSITY FOUNDATION G GRAHAM SEGARS JR - CLEMSON UNIVERSITY FOUNDATION WILLIAM C SMITH JR - CLEMSON UNIVERSITY BOARD OF TRUSTEES PATRICIA H. MCABEE - CLEMSON UNIVERSITY BOARD OF TRUSTEES THE FOLLOWING ARE EX-OFFICIO MEMBERS OF THE CUREF BOARD: A NEILL CAMERON JR BRETT A DALTON THE FOLLOWING ARE KEY EMPLOYEES OF CLEMSON UNIVERSITY: ROBERT T GEOLAS JOHN V BOYETTE JR THE FOLLOWING OFFICERS OF CUREF ARE EMPLOYEES OF CLEMSON UNIVERSITY. HARRISON F TRAMMELL ALICE C EVATT LAURA HASELDEN DONNA GARRIS FORM 990, PART VI, SECTION A, LINE 7A THE BOARD CONSISTS OF NINE MEMBERS, THREE APPOINTED BY THE CLEMSON UNIVERSITY BOARD OF TRUSTEES, ONE APPOINTED BY THE CLEMSON UNIVERSITY FOUNDATION, TWO ORIGINALLY APPOINTED BY THE CLEMSON UNIVERSITY FOUNDATION WHO ARE COMPLETING TRANSITION TERMS AS ADOPTED IN THE FEBRUARY 2010 AMENDED AND RESTATED BYLAWS, AND THREE ELECTED MEMBERS. THERE ARE NO MEMBERS OR STOCKHOLDERS, AND THE BOARD'S DECISIONS ARE NOT SUBJECT TO APPROVAL. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WAS SENT TO ALL BOARD MEMBERS FOR REVIEW AND COMMENT PRIOR TO THE FILING DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS AND KEY EMPLOYEES MUST REVIEW AND SIGN THE CODE OF CONDUCT POLICY WHICH INCLUDES THE CONFLICT OF INTEREST POLICY ANNUALLY. CUREF AND ITS SUBSIDIARIES HAVE LIMITED ACTIVITIES ALL OF WHICH ARE CONDUCTED BY FEWER THAN 10 PEOPLE. IN ADDITION, ALL INDIVIDUALS CONDUCTING BUSINESS ARE EMPLOYEES OF CLEMSON UNIVERSITY AND FOLLOW ALL CU POLICIES REGARDING CONFLICT OF INTEREST, WHISTLEBLOWER, AND RECORD RETENTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE OFFICERS IS DETERMINED THROUGH THE CLEMSON UNIVERSITY HUMAN RESOURCES DEPARTMENT WITHIN THE GUIDLINES ESTABLISHED BY THE STATE OF SOUTH CAROLINA. FORM 990, PART VI, SECTION C, LINE 18 THE FOUNDATION'S WEBSITE IS (HTTP:WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS/CUREF/). THIS WEB SITE DISPLAYS LINKS TO GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, IRS FORM 990 AND THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S WEBSITE IS (HTTP:WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS/CUREF/). THIS WEB SITE DISPLAYS LINKS TO GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, IRS FORM 990 AND THE CONFLICT OF INTEREST POLICY. AUDIT COMMITTEE PROCESS: FORM 990, PART XII, LINE 2C ALL RELATED ORGANIZATIONS OF CLEMSON UNIVERSITY PARTICIPATE IN A COMBINED REQUEST FOR PROPOSAL PROCESS EVERY FIVE YEARS. AT LEAST ONE MEMBER FROM EACH BOARD PARTICIPATES IN THE SELECTION PROCESS. THERE IS NO REQUIREMENT FOR ALL ENTITIES TO SELECT THE SAME AUDIT FIRM BUT THAT HAS BEEN THE PRACTICE FOR THE PAST TEN YEARS. COMPLIANCE WITH FORMS 8899 AND 1098-C: FORM 990, PART V, LINES 7G AND 7H: THERE WERE NO CONTRIBUTIONS RECEIVED WHICH WOULD HAVE REQUIRED THE ORGANIZATION TO FILE EITHER FORM 8899 OR 1098-C. EXCESS BUSINESS HOLDINGS AND DONOR ADVISED FUNDS: FORM 990, PART V, LINES 8 AND 9: THE ORGANIZATION DID NOT HAVE ANY EXCESS BUSINESS HOLDINGS AT ANY TIME DURING THE YEAR AND DOES NOT MAINTAIN DONOR ADVISED FUNDS. LICAM LLC 5 RESEARCH DRIVE GREENVILLE SC 29607 261304847 PROPERTY MANAGEMENT SC 229030 16742 CLEMSON UNIV REAL ESTATE FOUNDATION LICAR LLC 5 RESEARCH DRIVE GREENVILLE SC 29607 261304801 DEVELOPMENT OF REAL ESTATE SC 2649444 33130707 CLEMSON UNIV REAL ESTATE FOUNDATION CLEMSON UNIVERSITY 108 PERIMETER RD CLEMSON SC 29634 576000254 RESEARCH UNIVERSITY SC IRC 115 N/A 0 CLEMSON UNIVERSITY FOUNDATION PO BOX 1889 CLEMSON SC 296331889 570426335 SUPPORT MISSIONS OF CU SC IRC 501(C)(3) IRC 509(A)(1) N/A 0 0 0 1 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 CLEMSON UNIVERSITY FOUNDATION - SEE MEMO ON GIFTS AT SCHEDULE O C 334500 FINANCIAL STATEMENT CLEMSON UNIVERSITY - SHARE PAID EMPLOYEES N BOOK VALUE CLEMSON UNIVERSITY FOUND - LOAN OF ENDOWMENT FDS & PROPERTY HOLDING COSTS E 21036810 FINANCIAL STATEMENT CLEMSON UNIVERSITY O 173266 FINANCIAL STATEMENT CLEMSON UNIVERSITY-CONTRACT WITH LICAM FOR PROPERTY MGMT & DEVEL SERVICES K 321250 FINANCIAL STATEMENT GIFTS SCH R, PAGE 3 PART V AND SCHEDULE B CLEMSON UNIVERSITY FOUNDATION (CUF) RECEIVES GIFTS ON BEHALF OF CLEMSON UNIVERSITY REAL ESTATE FOUNDATION (CUREF). GIFTS ARE DESIGNATED FOR CUREF BY THE DONORS. CUF DEPOSITS THOSE GIFTS TO RESTRICTED PROJECTS. FUNDS ARE TRANSFERRED TO CUREF UPON REQUEST. ONE GIFT SYSTEM IS MAINTAINED FOR CLEMSON UNIVERSITY AND ITS SUPPORTING ORGANIZATIONS. CUREF RECEIVED FEW DIRECT GIFTS AND DOES NOT HAVE PROCESSES TO FACILITATE THE RECEIPT OF GIFTS.