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Nonprofiteer
← UNIVERSITY OF SOUTH CAROLINA UPSTATE FOUNDATION

Form 990 for tax year 2024

Filed by UNIVERSITY OF SOUTH CAROLINA UPSTATE FOUNDATION.

Totals

Total revenue
$5,262,784
Total expenses
$3,194,538
Contributions and grants received
$4,257,812
Grants paid
$2,649,494
Program service revenue
$0
Investment income
$758,701
Other revenue
$246,271
Total assets, end of year
$23,512,973
Total liabilities, end of year
$1,895,289
Net assets or fund balances, end of year
$21,617,684
Program services expenses (Part IX)
$2,709,911
Management and general expenses
$484,627
Fundraising expenses
$0
Program service expenses (Part III)
$2,709,911

Program services were 84.8% 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

    $126,122

  • 1f · All other contributions, gifts and grants

    $4,131,690

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $487,388 · excluded $487,388

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $985,575

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

    securities $714,262

  • 7c · Gain or loss

    securities $271,313 · other assets $0

  • 7d · Net gain or loss

    total $271,313 · excluded $271,313

  • 8a · Fundraising events: gross income

    $67,828

  • 8a · Fundraising events: contributions included on line 1c

    $126,122

  • 8b · Fundraising events: direct expenses

    $37,042

  • 8c · Net income from fundraising events

    total $30,786 · excluded $30,786

  • 11a · Other revenue: Administrative Fee

    total $191,840 · excluded $191,840

  • 11b · Other revenue: Miscellaneous Income

    total $23,645 · excluded $23,645

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $215,485

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,649,494 · program services $2,649,494

  • 11c · Fees: accounting

    total $24,620 · management and general $24,620

  • 11f · Fees: investment management

    total $115,405 · management and general $115,405

  • 11g · Fees: other

    total $198,873 · program services $4,562 · management and general $194,311 · fundraising $0

  • 13 · Office expenses

    total $21,776 · program services $21,776

  • 14 · Information technology

    total $74,795 · management and general $74,795

  • 16 · Occupancy

    total $1,857 · management and general $1,857

  • 17 · Travel

    total $10,079 · program services $10,079

  • 22 · Depreciation, depletion and amortization

    total $7,302 · management and general $7,302

  • 23 · Insurance

    total $10,761 · management and general $10,761

  • 24a · Other expenses: Settlement Payout

    total $48,000 · management and general $48,000

  • 24b · Other expenses: Chancellor's Housing Support

    total $24,000 · program services $24,000

  • 24c · Other expenses: Misc Expense

    total $7,576 · management and general $7,576

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $104 · end of year $177,372

  • 2 · Savings and temporary cash investments

    beginning of year $655,437 · end of year $285,150

  • 3 · Pledges and grants receivable

    beginning of year $81,500 · end of year $1,462,335

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $219,000

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,302

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $211,698

  • 11 · Investments: publicly traded securities

    beginning of year $18,162,785 · end of year $21,280,146

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $286,538 · end of year $96,272

  • 17 · Accounts payable and accrued expenses

    beginning of year $364 · end of year $757

  • 19 · Deferred revenue

    beginning of year $843,304 · end of year $1,828,136

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $163,048 · end of year $66,396

  • 27 · Net assets without donor restrictions

    beginning of year $2,102,449 · end of year $2,408,605

  • 28 · Net assets with donor restrictions

    beginning of year $16,077,199 · end of year $19,209,079

Mission and programs · 2024

Mission

ORGANIZATION ESTABLISHED TO OPERATE AS A PERMANENT FOUNDATION TO ACCEPT GIFTS FOR CHARITABLE, BENEVOLENT, CULTURAL, AND EDUCATIONAL PURPOSED FOR THE EXCLUSIVE USE AND BENEFIT OF THE UNIVERSITY OF SOUTH CAROLINA UPSTATE.

  • THE FOUNDATION PROVIDES FINANCIAL SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF SOUTH CAROLINA UPSTATE. THE SUPPORT PROVIDED TO THE UNIVERSITY PURCHASES ART, EQUIPMENT, AND SUPPLIES, FUNDS A VARIETY OF STUDENT SCHOLARSHIPS, IT HELPS SEND STUDENTS ABROAD FOR INTERNATIONAL EXPERIENCES AND PAYS FOR PERFORMANCES, EVENTS, AND STUDENT ACTIVITIES. THE FOUNDATION ENABLES USC UPSTATE TO SUPPORT THEIR METROPOLITAN MISSION.

    Expenses $2,709,911 · Grants $2,649,494

As filed on the 2024 return.

Listed in Part VII

  • Bynum Judy

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Cole Suzy

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Kelly Cindy

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Leopard Ken

    Cive Chair

    Total calculated
    $0
    Hours/week
    1

  • Aldrich Steve

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Brown Jeff

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Hannon Linda

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Hodge Jakie

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jane Jennings Mary

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Johnston Scott

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • McGee Terence

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Merhib Vanessa

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Randall Gary Dr

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ruffin Claudia

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Tam Kelly

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Thompson Beth

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Young IV Thomas

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • RJ Gimbl

    Executive Director

    Total calculated
    $231,638
    From this org
    $0
    From related orgs
    $180,454
    Other
    $51,184
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,454 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $35,928 related
    Nontaxable benefits
    $0 + $15,256 related
    Filer's total
    $0 + $231,638 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

None.

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 UPSTATE

    $2,647,924

    EDUCATIONAL AND ATHLETIC SUPPORT

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.

  • UNIVERSITY OF SOUTH CAROLINA UPSTATE

    115 · HIGHER EDUCATION · SC

  • USC UPSTATE CAPITAL DEVELOPMENT FOUNDATION

    501(c)(3) · SUPPORTING ORGANIZATION · SC · controlled entity

    Directly controlled by University of South Carolina Upstate Foundation

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2026
IRS schema version
2024v5.1
Source object
202601329349306340

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