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Nonprofiteer
← CLEMSON RESEARCH FACILITIES CORPORATION

Form 990 for tax year 2024

Filed by CLEMSON RESEARCH FACILITIES CORPORATION.

Totals

Total revenue
$276,000
Total expenses
$90,947
Contributions and grants received
$186,000
Grants paid
$0
Program service revenue
$90,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,455,577
Total liabilities, end of year
$23,280
Net assets or fund balances, end of year
$1,432,297
Program services expenses (Part IX)
$76,024
Management and general expenses
$14,923
Fundraising expenses
$0
Program service expenses (Part III)
$76,024

Program services were 83.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $186,000

  • 1g · Noncash contributions included above

    $186,000

  • 2a · Program service revenue: RENTAL INC.- AFFILIATE

    total $90,000 · related or exempt $90,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $1,308 · management and general $1,308

  • 11c · Fees: accounting

    total $13,575 · management and general $13,575

  • 11g · Fees: other

    total $13,967 · program services $13,927 · management and general $40

  • 22 · Depreciation, depletion and amortization

    total $30,654 · program services $30,654

  • 23 · Insurance

    total $31,443 · program services $31,443

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $754,979 · end of year $782,346

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,488 · end of year $11,892

  • 13 · Investments: program-related

    beginning of year $505,993 · end of year $661,339

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,716 · end of year $780

  • 19 · Deferred revenue

    beginning of year $22,500 · end of year $22,500

  • 27 · Net assets without donor restrictions

    beginning of year $1,247,244 · end of year $1,432,297

Mission and programs · 2024

Mission

THE CORPORATION WAS CREATED TO CONSTRUCT AND FINANCE RESEARCH FACILITIES BY THE MOST ECONOMICAL METHOD FOR CLEMSON UNIVERSITY. FACILITIES ARE LEASED TO THE UNIVERSITY FOR THE EDUCATIONAL BENEFIT OF ITS STUDENTS.

Activities or mission (Part I)

LEASE OF EDUCATIONAL FACILITIES

  • THE CORPORATION WAS CREATED BY CLEMSON UNIVERSITY TO PROVIDE THE LEAST EXPENSIVE OVERALL MEANS TO OBTAIN A COMPLEX TO BE USED TO CARRY OUT EDUCATION AND RESEARCH FOR CLEMSON UNIVERSITY. THE LEASE IS TO PROVIDE EDUCATIONAL FACILITIES FOR STUDENTS.

    Expenses $76,024 · Revenue $90,000

As filed on the 2024 return.

Listed in Part VII

  • Tanju Karanfil

    CO-CHAIR

    Total calculated
    $447,345
    From this org
    $0
    From related orgs
    $414,651
    Other
    $32,694
    Hours/week
    0.1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $412,726 related
    Bonus
    $0
    Other
    $0 + $1,925 related
    Deferred
    $0 + $14,500 related
    Nontaxable benefits
    $0 + $18,194 related
    Filer's total
    $0 + $447,345 related

  • Anthony Wagner

    CO-CHAIR TO 05/25

    Total calculated
    $579,546
    From this org
    $0
    From related orgs
    $555,086
    Other
    $24,460
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $545,086 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $14,500 related
    Nontaxable benefits
    $0 + $9,960 related
    Filer's total
    $0 + $579,546 related

  • Richard Petillo

    CO-CHAIR FROM 05/25

    Total calculated
    $386,558
    From this org
    $0
    From related orgs
    $347,140
    Other
    $39,418
    Hours/week
    0.1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,600 related
    Bonus
    $0
    Other
    $0 + $540 related
    Deferred
    $0 + $14,500 related
    Nontaxable benefits
    $0 + $24,918 related
    Filer's total
    $0 + $386,558 related

  • Laura Stoner

    SECRETARY/TREASURER

    Total calculated
    $290,087
    From this org
    $0
    From related orgs
    $209,885
    Other
    $80,202
    Hours/week
    0.25 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,393 related
    Bonus
    $0
    Other
    $0 + $8,492 related
    Deferred
    $0 + $54,659 related
    Nontaxable benefits
    $0 + $25,543 related
    Filer's total
    $0 + $290,087 related

  • Paula Agudelo

    DIRECTOR

    Total calculated
    $248,329
    From this org
    $0
    From related orgs
    $229,229
    Other
    $19,100
    Hours/week
    0.1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,077 related
    Bonus
    $0
    Other
    $0 + $1,152 related
    Deferred
    $0 + $11,523 related
    Nontaxable benefits
    $0 + $7,577 related
    Filer's total
    $0 + $248,329 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3:
THE ORGANIZATION DOES NOT HAVE A CEO OR EXECUTIVE DIRECTOR. THE BOARD OF DIRECTORS, WHO ARE ALL EMPLOYEES OF CLEMSON UNIVERSITY, OVERSEE THE AFFAIRS OF THE ORGANIZATION. THE SECRETARY/TREASURER HAS A PORTION OF THEIR SALARY REIMBURSED TO THE UNIVERSITY BY CRFC. THIS IS REPORTED AS A SHARED SERVICES EXPENSE ON THE STATEMENT OF FUNCTIONAL EXPENSES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CLEMSON UNIVERSITY

    170(C)(1) · RESEARCH UNIVERSITY · SC

Provenance

Return type
form_990
Tax year
2024
Filed
26 February 2026
IRS schema version
2024v5.5
Source object
202640589349301209

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