2011-05-13T15:08:08-05:00 2010-06-30 Cherry Bekaert & Holland LLP 201 West McBee Avenue Suite 200 Greenville SC 29601 990 2009-07-01 570933257 Clemson University Real Estate Foundation Inc CLEM 8646561289 PO Box 1889 Clemson SC 296331889 Alice C Evatt 8646561289 2011-05-13 0 8642333981 2009 2016-02-24 21:20:13Z alice c evatt 155 OLD GVILLE HWY 105 CLEMSON SC 29631 1478952 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 10 10 0 136 0 0 4077916 878074 0 -115968 0 555298 600878 4517246 1478952 387483 0 0 278160 278381 0 0 414912 455074 1080555 733455 3436691 745497 38569438 39641007 23805634 24131706 14763804 15509301 The foundation exists to receive, manage and invest gifts of real estate for Clemson University and the Clemson University Foundation. 0 0 733455 1478952 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. 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. it is expected to be operational in April 2011. 733455 1 1 0 0 0 0 0 0 0 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 1 5 0 0 0 0 0 0 0 0 0 0 0 0 0 10 10 1 0 1 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 Pearman Blvd Clemson SC 296345306 X 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 Biedinger 1.00 X 0 0 0 A Neill Cameron Jr 1.00 X 0 207273 31298 Neil C Robinson Jr 1.00 X 0 0 0 Frank A McLeod III 1.00 X 0 0 0 Brett A Dalton 1.00 X 0 205884 29026 Charles Mickel 1.00 X 0 0 0 christopher c pearce iv 1.00 X 0 0 0 bill amick 1.00 X 0 0 0 william csmith jr 1.00 X 0 0 0 Harrison F Trammell 1.00 X 0 199616 14644 Alice C Evatt 1.00 X 0 86747 13945 Cheryl L Nares 1.00 X 0 42522 7709 donna m garris 1.00 X 0 0 0 laura h haselden 1.00 X 0 39083 5749 Robert T Geolas 1.00 X 0 207291 33907 John V Boyette Jr 37.50 X 0 123540 7635 0 1111956 143913 0 0 1 0 NEAL PRINCE & PARTNERS INC 110 W NORTH STREET GREENVILLE SC 29601 ARCHITECTS 429292 ZORN CO INC P O BOX 842 SENECA SC 29679 CONSTRUCTION 172395 NELSON MULLINS RILEY & SCARBOROUGH LLP P O BOX 11009 COLUMBIA SC 29211 ATTORNEYS 126367 3 878074 453074 878074 103558 103558 103558 103558 Common Area Maintenanc 531310 472320 472320 Other 900099 25000 25000 497320 1478952 0 0 600878 278381 278381 88414 88414 1518 1518 78651 78651 769 769 30267 30267 64110 64110 12075 12075 Contracted Services 153155 153155 Other Taxes & Fees 26115 26115 733455 733455 0 0 160998 169563 7956 4827 39560626 94009 38400484 39466617 38569438 39641007 28603 43889 1285984 1208989 1489787 1855175 21001260 21023653 23805634 24131706 X 123057 687277 14640747 14822024 14763804 15509301 38569438 39641007 X 0 1 1 X 0 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 5717348 9528000 15245348 1100000 1349226 58817 2390409 481328 35192 446136 21384724 21384724 39466617 Due to Clemson Univ. Foundation 21023653 21023653 1478952 733455 745497 0 745497 1478952 0 1478952 0 1478952 733455 0 733455 0 733455 Part X: Description of Uncertain Tax Positions Under FIN 48: 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, 2010 AND 2009 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. 0 0 0 0 0 0 0 0 0 A Neill Cameron Jr 0 203588 0 0 0 3685 0 27345 0 3953 0 238571 0 0 Brett A Dalton 0 205697 0 0 0 187 0 27499 0 1527 0 234910 0 0 Harrison F Trammell 0 193228 0 0 0 6388 0 10312 0 4332 0 214260 0 0 Robert T Geolas 0 199583 0 0 0 7708 0 27284 0 6623 0 241198 0 0 X 1 450000 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. The "Best fit, most responsive" broker is selected to list the property. OCCASIONALLY A DIRECTOR'S FIRM MAY BE SELECTED TO LIST PROPERTY. DIRECTOR DOES NOT VOTE ON SELECTION NOR PERSONALLY LIST THE PROPERTY. Form 990, Part VI, Section A, line 2 Charles Mickel and Robert Mundy, both voting directors, are partners in a business. WILLIAM SMITH AND BILL AMICK, BOTH VOTING DIRECTORS, ARE PARTNERS IN A BUSINESS. 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. Form 990, Part VI, Section A, line 4 Effective February 12, 2010, CUREF amended and restated its Bylaws. Pursuant to this amendment and restatement of its Bylaws, in time the majority of CUREF's Board of Directors will be appointed by Clemson University. Previously Clemson University Foundation ("CUF") appointed the majority of CUREF's Board of Directors. As the terms of the directors appointed by CUF expire, Clemson University will appoint their replacements. Over time this will cause the majority of the CUREF Board to be appointed by Clemson University. Clemson University and Clemson University Foundation ("CUF") have been and continue to be named in CUREF's organizational documents as the organizations CUREF was formed to support. As such, CUREF continues to meet its organizational test as a supporting organization. CUREF continues to meet the operational test since at present it is operated in connection with CUF. In time, Clemson University will appoint a majority of CUREF's Board and at that time CUREF will be operated, supervised, or controlled by Clemson University. Form 990, Part VI, Section A, line 7a The Board consists of eight members, three appointed by Clemson University Foundation and four elected members. The eighth member is the immediate past chair of CUREF. Amended and restated Bylaws adopted in February 2010 added two members appointed by Clemson University Board of Trustees. 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. CLEMSON UNIVERSITY REAL ESTATE FOUNDATION AND ITS SUBSIDIARIES HAVE LIMITED ACTIVITIES ALL OF WHICH ARE CONDUCTED BY FEWER THAN TEN PEOPLE. IN ADDITION, ALL INDIVIDUALS CONDUCTING BUSINESS ARE EMPLOYEES OF CLEMSON UNIVERSITY (CU) AND FOLLOW ALL CU POLICIES REGARDING CONFLICTS 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 (HTTP:WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS/CUREF/) 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 (HTTP:WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS/CUREF/) displays links to governing documents, FINANCIAL STATEMENTS, IRS FORM 990 AND THE CONFLICT OF INTEREST POLICY. FORM 990, PART XI, LINE 2C AUDIT COMMITTEE PROCESS: 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 REQUIREMENTS FOR ALL ENTITIES TO SELECT THE SAME AUDIT FIRM BUT THAT HAS BEEN THE PRACTIcE FOR THE PAST NINE YEARS. Schedule R, PAGE 3, PART V AND SCHEDULE B gifts 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 RECEIVES FEW DIRECT GIFTS AND DOES NOT HAVE PROCESSES TO FACILITATE THE RECEIPT OF GIFTS. Form 990, Part IV, Question 7: CONSERVATION EASEMENT: The organization received a gift of land 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. Form 990, PART V, LINES 7g and 7h: Compliance with Forms 8899 and 1098-C: There were no contributions received which would have required the organization to file either Form 8899 or 1098-C. LICAM LLC 5 RESEARCH DRIVE GREENVILLE SC 29607 261304847 Property Management SC 216695 5646 CLEMSON UNIV REAL ESTATE FOUNDATION LICAR LLC 5 RESEARCH DRIVE GREENVILLE SC 29607 261304801 Development of Real Estate SC 809183 24722157 CLEMSON UNIV REAL ESTATE FOUNDATION CLEMSON UNIVERSITY ADMIN SERVICES BLDG Pearman Blvd CLEMSON SC 29634 576000254 RESEARCH UNIVERSITY SC IRC 115 N/A 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 1 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 Clemson University Foundation - see memo on gifts at Schedule O C 425000 CLEMSON UNIVERSITY N 278381 CLEMSON UNIVERSITY FOUNDATION E 21023653 CLEMSON UNIVERSITY O 278381