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Nonprofiteer
← SOUTH CAROLINA RESEARCH FOUNDATION

Form 990 for tax year 2022

Filed by SOUTH CAROLINA RESEARCH FOUNDATION.

Totals

Total revenue
$5,776,984
Total expenses
$5,721,027
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,776,984
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,090,852
Total liabilities, end of year
$2,755,292
Net assets or fund balances, end of year
$335,560
Program services expenses (Part IX)
$5,250,386
Management and general expenses
$470,641
Fundraising expenses
$0
Program service expenses (Part III)
$5,250,386

Program services were 91.8% 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.

  • 2a · Program service revenue: RESEARCH CONTRACTS

    total $5,187,421 · related or exempt $5,187,421

  • 2b · Program service revenue: MANAGEMENT FEES

    total $346,974 · related or exempt $346,974

  • 2c · Program service revenue: OTHER PROGRAM SERVICE

    total $242,589 · related or exempt $242,589

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $24,000 · management and general $24,000

  • 7 · Other salaries and wages

    total $89,198 · management and general $89,198

  • 11b · Fees: legal

    total $11,690 · management and general $11,690

  • 11c · Fees: accounting

    total $76,035 · management and general $76,035

  • 13 · Office expenses

    total $49,452 · management and general $49,452

  • 23 · Insurance

    total $9,883 · management and general $9,883

  • 24a · Other expenses: RESEARCH AND DEVELOPMEN

    total $5,250,386 · program services $5,250,386

  • 24b · Other expenses: USC OFFICE OF TECH.

    total $210,383 · management and general $210,383

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,094,078 · end of year $964,380

  • 3 · Pledges and grants receivable

    beginning of year $1,016,886 · end of year $472,980

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,324,204 · end of year $1,653,492

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,273,215 · end of year $586,471

  • 19 · Deferred revenue

    beginning of year $1,882,350 · end of year $2,168,821

  • 27 · Net assets without donor restrictions

    beginning of year $279,603 · end of year $335,560

Mission and programs · 2022

Mission

THE SOUTH CAROLINA RESEARCH FOUNDATION OPERATES FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTH CAROLINA, MEDICAL UNIVERSITY OF SOUTH CAROLINA, CLEMSON UNIVERSITY, PRISMA HEALTH, AND SPARTANBURG REGIONAL HEALTH SYSTEM INCLUDING BUT NOT LIMITED TO PROMOTING, ENCOURAGING, AND AIDING SCIENTIFIC RESEARCH AND INVESTIGATION.

  • THE SOUTH CAROLINA RESEARCH FOUNDATION OPERATES FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTH CAROLINA, MEDICAL UNIVERSITY OF SOUTH CAROLINA, CLEMSON UNIVERSITY, PRISMA HEALTH, AND SPARTANBURG REGIONAL HEALTH SYSTEM INCLUDING BUT NOT LIMITED TO PROMOTING, ENCOURAGING, AND AIDING SCIENTIFIC RESEARCH AND INVESTIGATION.

    Expenses $5,250,386 · Revenue $5,776,984

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Amiridis Michael

    USC PRESIDENT, 7/1/2022 - 12/31/2022

    Total calculated
    $428,422
    From this org
    $0
    From related orgs
    $428,422
    Other
    $0
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $424,469 related
    Bonus
    $0
    Other
    $0 + $3,953 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $428,422 related

  • Black David

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Caskey Jason

    EDUCATION FOUNDATION PRESIDENT

    Total calculated
    $430,935
    From this org
    $0
    From related orgs
    $404,230
    Other
    $26,705
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $353,730 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $20,500 related
    Deferred
    $0 + $11,938 related
    Nontaxable benefits
    $0 + $14,767 related
    Filer's total
    $0 + $430,935 related

  • Cutler Stephen

    USC DEAN, COLLEGE OF PHARMACY

    Total calculated
    $389,496
    From this org
    $0
    From related orgs
    $389,496
    Other
    $0
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $389,496 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $389,496 related

  • Freeman Kester

    BOARD CHAIR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Fridriksson Julius

    USC VP FOR RESEARCH

    Total calculated
    $430,749
    From this org
    $0
    From related orgs
    $430,749
    Other
    $0
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $430,749 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $430,749 related

  • Hardaway Chad

    DEPUTY DIRECTOR

    Total calculated
    $162,084
    From this org
    $0
    From related orgs
    $162,084
    Other
    $0
    Hours/week
    2 + 35.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $162,084 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $162,084 related

  • Jones Dick

    USC BOARD OF TRUSTEE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Pastides Harris

    USC PRESIDENT, 1/1/2022 - 6/30/2022

    Total calculated
    $352,019
    From this org
    $0
    From related orgs
    $352,019
    Other
    $0
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $349,469 related
    Bonus
    $0
    Other
    $0 + $2,550 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $352,019 related

  • Quinn Bob

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thames Brenda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vasudeva Bhavna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kirkland William

    EXECUTIVE DIRECTOR

    Total calculated
    $281,802
    From this org
    $0
    From related orgs
    $281,802
    Other
    $0
    Hours/week
    2 + 35.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $281,802 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $281,802 related

  • Epting Kelly

    CFO

    Total calculated
    $158,453
    From this org
    $0
    From related orgs
    $158,453
    Other
    $0
    Hours/week
    5.6 + 31.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $158,453 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $158,453 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

  • 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

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.

  • UNIVERSITY OF SOUTH CAROLINA

    501(C)(3) · EDUCATION · SC

Provenance

Return type
form_990
Tax year
2022
Filed
20 February 2024
IRS schema version
2022v5.0
Source object
202440519349301244

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