Form 990 for tax year 2022
Filed by COASTAL EDUCATIONAL FOUNDATION INCORPORATED.
Totals
- Total revenue
- $5,236,617
- Total expenses
- $3,320,748
- Contributions and grants received
- $4,528,257
- Grants paid
- $2,523,687
- Program service revenue
- $0
- Investment income
- $213,661
- Other revenue
- $494,699
- Total assets, end of year
- $74,413,716
- Total liabilities, end of year
- $2,167,726
- Net assets or fund balances, end of year
- $72,245,990
- Program services expenses (Part IX)
- $2,871,867
- Management and general expenses
- $421,440
- Fundraising expenses
- $27,441
- Program service expenses (Part III)
- $2,871,867
Program services were 86.5% 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.
-
1c · Fundraising events
$56,924
-
1f · All other contributions, gifts and grants
$4,471,333
-
1g · Noncash contributions included above
$124,560
-
3 · Investment income
total $214,221 · excluded $214,221
-
5 · Royalties
total $18,462 · excluded $18,462
-
6a · Gross rents
real property $351,510
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $351,510
-
6d · Net rental income or loss
total $351,510 · related or exempt $351,510
-
7b · Less cost or other basis and sales expenses
securities $560
-
7c · Gain or loss
securities -$560
-
7d · Net gain or loss
total -$560 · related or exempt -$560
-
8a · Fundraising events: gross income
$84,447
-
8a · Fundraising events: contributions included on line 1c
$56,924
-
8b · Fundraising events: direct expenses
$111,547
-
8c · Net income from fundraising events
total -$27,100 · excluded -$27,100
-
11a · Other revenue: MISCELLANEOUS
total $151,827 · related or exempt $151,827
-
11e · Other revenue, total
$151,827
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,523,687 · program services $2,523,687
-
11b · Fees: legal
total $17,060 · management and general $17,060
-
11c · Fees: accounting
total $24,600 · management and general $24,600
-
11e · Fees: professional fundraising services
total $27,441 · fundraising $27,441
-
11f · Fees: investment management
total $69,150 · management and general $69,150
-
11g · Fees: other
total $29,204 · program services $25,089 · management and general $4,115
-
22 · Depreciation, depletion and amortization
total $15,666 · program services $10,757 · management and general $4,909
-
23 · Insurance
total $20,310 · program services $15,013 · management and general $5,297
-
24a · Other expenses: ACADEMIC SUPPORT
total $274,352 · program services $274,352
-
24b · Other expenses: BAD DEBT
total $219,300 · management and general $219,300
-
24c · Other expenses: OPERATIONAL EXPENSES
total $86,896 · program services $9,887 · management and general $77,009 · fundraising $0
-
24d · Other expenses: LEASES AND TAXES
total $13,082 · program services $13,082
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,044,186 · end of year $2,637,157
-
3 · Pledges and grants receivable
beginning of year $5,273,674 · end of year $5,011,732
-
4 · Accounts receivable
beginning of year $10,601 · end of year $69
-
10a · Land, buildings and equipment: cost or other basis
$5,506,399
-
10b · Land, buildings and equipment: accumulated depreciation
$219,958
-
10c · Land, buildings and equipment, net
beginning of year $4,552,107 · end of year $5,286,441
-
11 · Investments: publicly traded securities
beginning of year $51,254,676 · end of year $57,803,220
-
12 · Investments: other securities
beginning of year $3,244,450 · end of year $3,348,550
-
15 · Other assets
beginning of year $333,042 · end of year $326,547
-
17 · Accounts payable and accrued expenses
beginning of year $2,033,968 · end of year $2,139,393
-
19 · Deferred revenue
beginning of year $28,333 · end of year $28,333
-
27 · Net assets without donor restrictions
beginning of year $8,679,857 · end of year $9,411,175
-
28 · Net assets with donor restrictions
beginning of year $55,970,578 · end of year $62,834,815
Mission and programs · 2022
Mission
TO PROVIDE SUPPORT TO COASTAL CAROLINA UNIVERSITY THROUGH CHARITABLE DONATIONS RECEIVED PRIMARILY FROM INDIVIDUAL DONORS.
Activities or mission (Part I)
SUPPORT COASTAL CAROLINA UNIVERSITY THROUGH SCHOLARSHIPS AND PROGRAMS
-
UNIVERSITY SUPPORT - THE FOUNDATION PROVIDES SALARY ENRICHMENT AND BENEFITS TO ATTRACT AND RETAIN TOP ADMINISTRATION.
Expenses $887,549 · Grants $571,441
-
PROGRAM SUPPORT - THE FOUNDATION FUNDS CHAIRS AND PROFESSORSHIPS FOR THE VARIOUS COLLEGES AND PROVIDES FUNDING FOR MANY OF THE RENOWNED PROGRAMS THAT HAVE LED COASTAL CAROLINA UNIVERSITY TO BE RECOGNIZED AS ONE OF "AMERICA'S 100 BEST COLLEGE BUYS" FOR ELEVEN CONSECUTIVE YEARS. ALSO, COASTAL CAROLINA UNIVERSITY IS RANKED SIXTH IN THE BEST VALUE CATEGORY FOR SOUTHERN REGIONAL UNIVERSITIES IN THE 2021 EDITION OF THE U.S. NEWS AND WORLD REPORT "BEST COLLEGE" ANNUAL RANKINGS.
Expenses $1,104,279 · Grants $1,072,207
-
SCHOLARSHIPS - THE FOUNDATION IS ABLE TO PROVIDE SCHOLARSHIP ASSISTANCE TO STUDENTS MEETING VARYING CRITERIA THROUGH BOTH ENDOWMENTS AND ANNUAL CONTRIBUTIONS.
Expenses $880,039 · Grants $880,039
As filed on the 2022 return.
Listed in Part VII
-
TONY K COX
PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.3
-
MICHAEL F HAGG
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.3
-
CHRISTOPHER ST JOHN
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.3
-
E LAWTON BENTON
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
FRANKLIN C BLANTON
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
MERRILL T BOYCE
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
T PRESTON BROWN
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
O BARTLETT BUIE
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
DAVID D DOUGLAS
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
W JENNINGS DUNCAN
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
EDGAR L DYER
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
DENNIS L WADE
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
J STEWART HASKIN JR
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
KEITH C HINSON
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
JODY C HYDEN
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
CHRISTOPHER S HUGGINS
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 0.3
-
WILLIAM O MARSH
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
JAMES B MOORE JR
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
MICHAEL D PRUITT
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
JOSEPH F SINGLETON
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
CARL O FALK
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
ROGER GRIGG
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
DEBORAH VROOMAN
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
E CRAIG WALL III
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
MELODY JE BREEDEN
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
JOHN M DRAUGHN
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
CHRISTY S EVERETT
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
BRIAN J ARGO
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
DAVID W SAGE
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
RUTHIE S KEARNS
MEMBER
- Total calculated
- $0
- Hours/week
- 0.3
-
CHRISTOPHER JOHNSON
EXECUTIVE DIRECTOR
- Total calculated
- $154,768
- From this org
- $0
- From related orgs
- $154,768
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $154,768 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $154,768 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)
- PART I, LINE 3
- COMPENSATION IS APPROVED BY THE BOARD.
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
-
$2,523,687
COASTAL EDUCATION FOUNDATION WAS CHARTERED TO SUPPORT THE UNIVERSITY WITH VARIOUS DONATIONS.
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.
-
IRC 115 · INSTITUTE OF HIGHER LEARNING · SC
-
CHANTICLEER ATHLETIC FOUNDATION
501(C)(3) · UNIVERSITY ATHLETIC SUPPORT · SC
Directly controlled by COASTAL CAROLINA UNIVERSITY
-
COASTAL CAROLINA UNIVERSITY STUDENT HOUSING FOUNDATION
501(C)(3) · UNIVERSITY STUDENT HOUSING · SC
Directly controlled by COASTAL CAROLINA UNIVERSITY
-
COASTAL CAROLINA UNIVERSITY RESEARCH FOUNDATION
501(C)(3) · UNIVERSITY RESEARCH · SC
Directly controlled by COASTAL CAROLINA UNIVERSITY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343189349311224
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