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Nonprofiteer
← FURMAN UNIVERSITY FOUNDATION INC

Form 990 for tax year 2022

Filed by FURMAN UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$1,751,716
Total expenses
$452,829
Contributions and grants received
$0
Grants paid
$446,992
Program services expenses (Part IX)
$449,615
Management and general expenses
$3,214
Fundraising expenses
$0
Program service expenses (Part III)
$449,615

Program services were 99.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • SUSAN MADDUX

    SECRETARY/TREASURER

    Total calculated
    $393,291
    From this org
    $0
    From related orgs
    $350,377
    Other
    $42,914
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $344,811 related
    Bonus
    $0
    Other
    $0 + $5,566 related
    Deferred
    $0 + $30,888 related
    Nontaxable benefits
    $0 + $12,026 related
    Filer's total
    $0 + $393,291 related

  • W LINDSAY SMITH

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • L STEWART SPINKS

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • J EARLE FURMAN JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SEAN HARTNESS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM R TIMMONS III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RICHARD W WRENN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 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 — 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
THE FOUNDATION HAS NO EMPLOYEES. COMPENSATION REPORTED IN PART VII PAID BY RELATED ORGANIZATIONS IS FOR WORK PERFORMED FOR THE RELATED ORGANIZATION, FURMAN UNIVERSITY, AND AS SUCH IS DETERMINED UNDER THE HUMAN RESOURCE POLICIES OF THE UNIVERSITY. METHODS USED TO ESTABLISH COMPENSATION USED BY THE UNIVERSITY: -COMPENSATION COMMITTEE -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202421369349311097

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