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← UNIVERSITY OF SOUTH CAROLINA BUSINESS PARTNERSHIP FOUNDATION

Form 990 for tax year 2024

Filed by UNIVERSITY OF SOUTH CAROLINA BUSINESS PARTNERSHIP FOUNDATION.

Totals

Total revenue
$17,296,737
Total expenses
$15,554,873
Contributions and grants received
$5,968,772
Grants paid
$5,171,361
Program service revenue
$4,702,973
Investment income
$6,576,947
Other revenue
$48,045
Total assets, end of year
$173,203,251
Total liabilities, end of year
$946,834
Net assets or fund balances, end of year
$172,256,417
Program services expenses (Part IX)
$14,361,342
Management and general expenses
$1,193,531
Fundraising expenses
$0
Program service expenses (Part III)
$14,361,342

Program services were 92.3% 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

    $5,968,772

  • 1g · Noncash contributions included above

    $398,272

  • 2a · Program service revenue: CONTINUING EDUCATION FEES

    total $4,702,973 · related or exempt $4,702,973

  • 3 · Investment income

    total $2,744,880 · excluded $2,744,880

  • 6a · Gross rents

    real property $48,045

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $48,045

  • 6d · Net rental income or loss

    total $48,045 · excluded $48,045

  • 7a · Gross sales of assets other than inventory

    securities $11,067,237

  • 7b · Less cost or other basis and sales expenses

    securities $7,235,170

  • 7c · Gain or loss

    securities $3,832,067

  • 7d · Net gain or loss

    total $3,832,067 · excluded $3,832,067

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,171,361 · program services $5,171,361

  • 5 · Compensation of officers, directors and key employees

    total $668,817 · program services $431,442 · management and general $237,375

  • 7 · Other salaries and wages

    total $2,853,662 · program services $2,563,667 · management and general $289,995

  • 8 · Pension plan contributions

    total $85,185 · program services $57,651 · management and general $27,534

  • 9 · Other employee benefits

    total $622,138 · program services $545,376 · management and general $76,762

  • 10 · Payroll taxes

    total $107,729 · program services $70,068 · management and general $37,661

  • 11b · Fees: legal

    total $71,727 · program services $1,400 · management and general $70,327

  • 11c · Fees: accounting

    total $42,749 · program services $6,382 · management and general $36,367

  • 11f · Fees: investment management

    total $47,961 · management and general $47,961

  • 11g · Fees: other

    total $1,387,843 · program services $1,187,884 · management and general $199,959

  • 12 · Advertising and promotion

    total $894,767 · program services $892,392 · management and general $2,375

  • 13 · Office expenses

    total $275,646 · program services $227,815 · management and general $47,831

  • 14 · Information technology

    total $184,930 · program services $163,724 · management and general $21,206

  • 16 · Occupancy

    total $305,580 · program services $284,904 · management and general $20,676

  • 17 · Travel

    total $778,830 · program services $778,334 · management and general $496

  • 19 · Conferences, conventions and meetings

    total $1,448,911 · program services $1,438,509 · management and general $10,402

  • 23 · Insurance

    total $57,478 · program services $10,783 · management and general $46,695

  • 24a · Other expenses: MEMBERSHIP DUES

    total $261,693 · program services $256,185 · management and general $5,508

  • 24b · Other expenses: MISCELLANEOUS

    total $163,644 · program services $151,568 · management and general $12,076

  • 24c · Other expenses: AWARDS AND GIFTS

    total $124,222 · program services $121,897 · management and general $2,325

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,761,082 · end of year $4,751,262

  • 3 · Pledges and grants receivable

    beginning of year $141,347 · end of year $672,222

  • 4 · Accounts receivable

    beginning of year $966,832 · end of year $1,009,210

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,270 · end of year $28,915

  • 12 · Investments: other securities

    beginning of year $153,375,097 · end of year $166,641,160

  • 15 · Other assets

    beginning of year $95,959 · end of year $100,482

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,661,139 · end of year $946,834

  • 27 · Net assets without donor restrictions

    beginning of year $77,825,305 · end of year $84,680,714

  • 28 · Net assets with donor restrictions

    beginning of year $79,885,143 · end of year $87,575,703

Mission and programs · 2024

Mission

TO BUILD AN ENDOWMENT FUND AND SUPERVISE ITS CREATIVE MANAGEMENT. TO ASSIST IN DETERMINING APPROPRIATE PROJECTS AND TO BE FINANCED WITH FUNDS RAISED. TO ENCOURAGE AND ASSIST IN SUPPORTING RESEARCH IN BUSINESS AND ECONOMIC PROBLEMS. TO ASSIST IN CONDUCTING CONFERENCES FOR EDUCATION AND DEVELOPMENT OF MANAGEMENT PERSONNEL WORLDWIDE.

Activities or mission (Part I)

TO ESTABLISH CONTINUING PARTNERSHIP BETWEEN THE UNIVERSITY OF SOUTH CAROLINA AND THE BUSINESS COMMUNITY FOR THE ENHANCEMENT AND IMPROVEMENT OF THE DARLA MOORE SCHOOL OF BUSINESS. TO SOLICIT AND RECEIVE GIFTS SUBJECT TO CONDITIONS IMPOSED THEREON FOR THE BENEFIT OF THE DARLA MOORE SCHOOL OF BUSINESS. TO BUILD AN ENDOWMENT FUND AND SUPERVISE ITS CREATIVE MANAGEMENT. TO ASSIST IN DETERMINING APPROPRIATE PROJECTS AND TO BE FINANCED WITH FUNDS RAISED. TO ENCOURAGE AND ASSIST IN SUPPORTING RESEARCH IN BUSINESS AND ECONOMIC PROBLEMS. TO ASSIST IN CONDUCTING CONFERENCES FOR EDUCATION AND DEVELOPMENT OF MANAGEMENT PERSONNEL WORLDWIDE.

  • CONTINUING EDUCATION: CONTINUING EDUCATION AND EDUCATIONAL PROGRAMS ACTIVITIES SEEK TO PROVIDE WORLD-CLASS BUSINESS EDUCATION TAILORED TO THE NEEDS OF OUR CUSTOMERS, BUILD CLOSER RELATIONSHIPS WITH KEY CORPORATE SUPPORTERS OF THE DARLA MOORE SCHOOL OF BUSINESS, AND TO RECRUIT AND RETAIN TOP FACULTY BY PROVIDING PROFESSIONAL DEVELOPMENT OPPORTUNITIES. THE EDUCATIONAL PROGRAMS EQUIP BUSINESS PROFESSIONALS WITH KNOWLEDGE AND SKILLS TO BETTER PERFORM THEIR JOBS AND DEVELOP MANAGERS TO LEAD MORE EFFECTIVELY.

    Expenses $4,597,806 · Revenue $4,702,973

  • ACADEMIC SUPPORT: THE FOUNDATION PROVIDES DEPARTMENTS WITH THE RESOURCES NEEDED TO ENGAGE IN BUSINESS RESEARCH, RECRUIT AND RETAIN FACULTY, HOST VISITING PROFESSORS, FUND DISTINGUISHED CHAIRS, AND ENGAGE IN OTHER INITIATIVES DESIGNED TO ENHANCE THE EDUCATION AND ACTIVITIES OF THE STUDENTS AS WELL AS THE REPUTATION OF THE DARLA MOORE SCHOOL OF BUSINESS.

    Expenses $2,902,201 · Grants $1,239,942

  • SCHOLARSHIPS AND STUDENT ASSISTANCE: THE FOUNDATION UTILIZES ENDOWMENTS AND OTHER FUNDS TO PROVIDE SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS OF THE DARLA MOORE SCHOOL OF BUSINESS IN ORDER TO AWARD HIGH ACHIEVING SCHOLARS AND ATTRACT THEM TO THE SCHOOL, ASSIST FIRST GENERATION STUDENTS AND STUDENTS WITH FINANCIAL NEED IN ACCESSING AN EDUCATION AT THE DARLA MOORE SCHOOL OF BUSINESS, PROVIDE STUDY ABROAD OPPORTUNITIES, AND OTHERWISE SUPPORT STUDENTS BY ENRICHING THEIR COLLEGE EDUCATION AND MAKING IT MORE AFFORDABLE.

    Expenses $3,801,708 · Grants $3,602,696

  • EXTERNAL RELATIONS: THE FOUNDATION SUPPORTS THE DARLA MOORE SCHOOL OF BUSINESS IN CONDUCTING CONFERENCES, SEMINARS, AND MANAGEMENT PROGRAMS TO FURTHER THE EDUCATION, DEVELOPMENT AND EFFECTIVENESS OF BUSINESS PROFESSIONALS AND SCHOLARS WORLDWIDE. ENGAGES ALUMNI OF THE DARLA MOORE SCHOOL OF BUSINESS THROUGH EVENTS, LEADERSHIP RECOGNITION AWARDS, AND THROUGH THE CREATION OF A BOARD OF ADVISORS TO THE FOUNDATION. EXTERNAL RELATIONS PROGRAMS ALSO FOCUS ON OUTREACH TO THE BUSINESS COMMUNITY TO STRENGTHEN AND EXPAND PARTNERSHIPS FOR THE BENEFIT OF THE DARLA MOORE SCHOOL OF BUSINESS THROUGH THE BOARD OF TRUSTEES AND BOARD OF ADVISORS.

    Expenses $3,059,627 · Grants $328,723

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Parker

    TREASURER/VICE PRESIDENT (NON VOTING)

    Total calculated
    $227,448
    From this org
    $182,120
    From related orgs
    $0
    Other
    $45,328
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,120
    Bonus
    $0
    Other
    $0
    Deferred
    $11,265
    Nontaxable benefits
    $34,063
    Filer's total
    $227,448

  • Susan Cotter

    CHIEF EXTERNAL RELATIONS OFFICER

    Total calculated
    $218,196
    From this org
    $194,637
    From related orgs
    $0
    Other
    $23,559
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,637
    Bonus
    $0
    Other
    $0
    Deferred
    $10,368
    Nontaxable benefits
    $13,191
    Filer's total
    $218,196

  • Jean E Duke

    SECRETARY/PRESIDENT (NONVOTING)

    Total calculated
    $210,248
    From this org
    $179,142
    From related orgs
    $0
    Other
    $31,106
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,142
    Bonus
    $0
    Other
    $0
    Deferred
    $10,840
    Nontaxable benefits
    $20,266
    Filer's total
    $210,248

  • Mark Cecchini

    PRESIDENT - CORPORATE SOLUTIONS

    Total calculated
    $159,139
    From this org
    $147,231
    From related orgs
    $0
    Other
    $11,908
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,231
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,908
    Filer's total
    $159,139

  • Elizabeth Tucker

    DIRECTOR OF BUSINESS OPERATIONS

    Total calculated
    $150,226
    From this org
    $123,319
    From related orgs
    $0
    Other
    $26,907
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,319
    Bonus
    $0
    Other
    $0
    Deferred
    $8,018
    Nontaxable benefits
    $18,889
    Filer's total
    $150,226

  • Devin Davidson

    DIRECTOR OF ACCOUNTING

    Total calculated
    $145,054
    From this org
    $123,880
    From related orgs
    $0
    Other
    $21,174
    Hours/week
    40

  • Trey Ackerman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • The Honorable James H Hodges

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Carlton B Dallas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steve H Grimshaw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rose Buyck Newton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lori Hair

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Brenan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Walter B Todd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John M Florence Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lloyd E Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Iris Griffin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • D Roger Nanney

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Charles W Garnett

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Bruce Felt

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

  • UNIVERSITY OF SOUTH CAROLINA

    $5,171,361

    SUPPORT THE DARLA MOORE BUSINESS SCHOOL

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CORPORATE SOLUTIONS LLC

    TO FURTHER THE EXEMPT PURPOSES AND OBJECTIVES OF USC-BPF · SC · income $5,193,008 · assets $3,812,908

    Directly controlled by UNIVERSITY OF SC BUSINESS PARTNERSHIP FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
17 February 2026
IRS schema version
2024v5.5
Source object
202600489349300040

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