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← SOUTH CAROLINA UNITED METHODIST FOUNDATION

Form 990 for tax year 2024

Filed by SOUTH CAROLINA UNITED METHODIST FOUNDATION.

Totals

Total revenue
$2,035,329
Total expenses
$966,516
Contributions and grants received
$684,184
Grants paid
$689,230
Program service revenue
$55,358
Investment income
$1,295,787
Other revenue
$0
Total assets, end of year
$33,991,834
Total liabilities, end of year
$10,442,633
Net assets or fund balances, end of year
$23,549,201
Program services expenses (Part IX)
$689,230
Management and general expenses
$277,286
Fundraising expenses
$0
Program service expenses (Part III)
$689,230

Program services were 71.3% 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

    $684,184

  • 2a · Program service revenue: MANAGEMENT FEES

    total $55,358 · related or exempt $55,358

  • 3 · Investment income

    total $1,295,787 · excluded $1,295,787

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $635,720 · program services $635,720

  • 2 · Grants to domestic individuals

    total $53,510 · program services $53,510

  • 5 · Compensation of officers, directors and key employees

    total $153,477 · management and general $153,477

  • 7 · Other salaries and wages

    total $60,495 · management and general $60,495

  • 10 · Payroll taxes

    total $4,246 · management and general $4,246

  • 11c · Fees: accounting

    total $8,750 · management and general $8,750

  • 12 · Advertising and promotion

    total $1,047 · management and general $1,047

  • 13 · Office expenses

    total $12,361 · management and general $12,361

  • 16 · Occupancy

    total $10,607 · management and general $10,607

  • 17 · Travel

    total $2,787 · management and general $2,787

  • 20 · Interest

    total $857 · management and general $857

  • 22 · Depreciation, depletion and amortization

    total $853 · management and general $853

  • 24a · Other expenses: CONTINGENCY AND OTHER

    total $14,825 · management and general $14,825

  • 24b · Other expenses: RIGHT OF USAGE (AMORT)

    total $6,981 · management and general $6,981

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,753,843 · end of year $1,354,048

  • 3 · Pledges and grants receivable

    beginning of year $118,547 · end of year $133,188

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

    $44,125

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

    $20,223

  • 10c · Land, buildings and equipment, net

    beginning of year $22,596 · end of year $23,902

  • 11 · Investments: publicly traded securities

    beginning of year $29,198,243 · end of year $32,107,865

  • 14 · Intangible assets

    end of year $47,201

  • 15 · Other assets

    beginning of year $255,293 · end of year $325,630

  • 17 · Accounts payable and accrued expenses

    beginning of year $946,763 · end of year $774,216

  • 25 · Other liabilities

    beginning of year $9,181,086 · end of year $9,668,417

  • 27 · Net assets without donor restrictions

    beginning of year $405,178 · end of year $478,611

  • 28 · Net assets with donor restrictions

    beginning of year $20,815,495 · end of year $23,070,590

Mission and programs · 2024

Mission

PROVIDE ENDOWMENT FOR UNITED METHODIST INSTITUTIONS.

  • PROVIDING ENDOWMENT FOR SEVEN UNITED METHODIST AFFILIATED INSTITUTIONS.

    Expenses $532,058 · Grants $532,058

  • PROVIDING SUPPORT TO UNITED METHODIST AFFILIATED INSTITUTIONS, ORGANIZATIONS AND STUDENTS.

    Expenses $157,172 · Grants $157,172

As filed on the 2024 return.

Listed in Part VII

  • The Reverend Michael E Bowers

    VICE CHAIRPE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Mary Ann S Crews

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bishop Leonard D Fairley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Joseph E Heyward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • The Reverend R Wayne Horne

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Mr Art Justice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • The Reverend Dr Ted R Morton Jr

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mr D Smith Patterson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • The Reverend Tim Rogers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Robert Scarborough

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • The Reverend Robert M Vincent

    PRESIDENT

    Total calculated
    $153,477
    From this org
    $138,009
    From related orgs
    $0
    Other
    $15,468
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,902
    Bonus
    not reported
    Other
    $9,107
    Deferred
    $15,468
    Nontaxable benefits
    not reported
    Filer's total
    $153,477

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

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
15 January 2026
IRS schema version
2024v5.0
Source object
202630159349301523

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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