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Nonprofiteer
← FRANCIS MARION UNIVERSITY EDUCATION FOUNDATION

Form 990 for tax year 2022

Filed by FRANCIS MARION UNIVERSITY EDUCATION FOUNDATION.

Totals

Total revenue
$10,642,837
Total expenses
$2,764,825
Contributions and grants received
$9,321,225
Grants paid
$1,125,779
Program service revenue
$354,699
Investment income
$924,992
Other revenue
$41,921
Total assets, end of year
$44,605,407
Total liabilities, end of year
$327,870
Net assets or fund balances, end of year
$44,277,537
Program services expenses (Part IX)
$2,031,610
Management and general expenses
$673,755
Fundraising expenses
$59,460
Program service expenses (Part III)
$2,031,610

Program services were 73.5% 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.

  • 1f · All other contributions, gifts and grants

    $9,321,225

  • 1g · Noncash contributions included above

    $1,629

  • 2a · Program service revenue: RENTAL

    total $173,714 · excluded $173,714

  • 2b · Program service revenue: PERFORMING ARTS CENTER

    total $121,734 · related or exempt $121,734

  • 2c · Program service revenue: REGISTRATION/OTHER FEES

    total $59,251 · related or exempt $59,251

  • 3 · Investment income

    total $418,842 · excluded $418,842

  • 7a · Gross sales of assets other than inventory

    securities $15,012,666

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

    securities $14,506,516

  • 7c · Gain or loss

    securities $506,150

  • 7d · Net gain or loss

    total $506,150 · related or exempt $506,150

  • 11a · Other revenue: COTTAGE/MISC

    total $41,920 · related or exempt $41,920

  • 11b · Other revenue: MISC

    total $1 · unrelated business $1

  • 11e · Other revenue, total

    $41,921

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $236,063 · program services $236,063

  • 2 · Grants to domestic individuals

    total $889,716 · program services $889,716

  • 5 · Compensation of officers, directors and key employees

    total $510,000 · program services $510,000

  • 7 · Other salaries and wages

    total $219,718 · program services $154,484 · management and general $65,234

  • 11c · Fees: accounting

    total $63,000 · management and general $63,000

  • 11g · Fees: other

    total $250,150 · program services $240,243 · management and general $6,854 · fundraising $3,053

  • 12 · Advertising and promotion

    total $48,751 · management and general $48,751

  • 17 · Travel

    total $21,642 · management and general $21,642

  • 19 · Conferences, conventions and meetings

    total $64,401 · management and general $7,994 · fundraising $56,407

  • 22 · Depreciation, depletion and amortization

    total $116,145 · management and general $116,145

  • 23 · Insurance

    total $31,035 · management and general $31,035

  • 24a · Other expenses: OFFICE EQUIPMENT & MAINT.

    total $131,282 · program services $1,104 · management and general $130,178

  • 24b · Other expenses: SUPPLIES

    total $102,516 · management and general $102,516

  • 24c · Other expenses: GRANTS & OTHER SUPPORT

    total $38,484 · management and general $38,484

  • 24d · Other expenses: SUBSCRIPTION AND DUES

    total $32,341 · management and general $32,341

  • 24e · All other expenses

    total $9,581 · management and general $9,581

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,899,821 · end of year $14,043,180

  • 3 · Pledges and grants receivable

    beginning of year $31,350 · end of year $101,534

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

    $4,254,350

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

    $851,015

  • 10c · Land, buildings and equipment, net

    beginning of year $3,502,915 · end of year $3,403,335

  • 11 · Investments: publicly traded securities

    beginning of year $29,582,811 · end of year $23,793,915

  • 15 · Other assets

    beginning of year $3,532,102 · end of year $3,263,443

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,569 · end of year $52,542

  • 23 · Secured mortgages and notes payable

    beginning of year $335,374 · end of year $275,328

  • 27 · Net assets without donor restrictions

    beginning of year $6,044,840 · end of year $4,729,534

  • 28 · Net assets with donor restrictions

    beginning of year $36,142,216 · end of year $39,548,003

Mission and programs · 2022

Mission

TO PROMOTE THE EDUCATIONAL FUNCTION OF FRANCIS MARION UNIVERSITY BY GRANTS, AWARDS, LECTURES, FEE AND TUITION ASSISTANCE FOR STUDENTS AND PROFESSORS.

  • AWARDS TO FRANCIS MARION UNIVERSITY STUDENTS TO ASSIST WITH FEES AND TUITION, AND TO PROFESSORS TO ASSIST IN RESEARCH AND TO RECOGNIZE SCHOLARSHIP.

    Expenses $889,716 · Grants $889,716

  • GRANTS, AWARDS, LECTURES, RETREATS AND COMPETITIONS FUNDED THAT IMPACTED ENTIRE STUDENT BODY AND GENERAL PUBLIC.

    Expenses $236,063 · Grants $236,063

  • OTHER ASSISTANCE TO FRANCIS MARION UNIVERSITY

    Expenses $905,831

As filed on the 2022 return.

Listed in Part VII

  • Mr Timothy F Norwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr James A Harrell

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mrs Teresa C Anderson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Beth Bauknight

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Robert J Campbell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Perry Grice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Jeff Helton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Kathy Heustess

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mr Carl Humphries

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Hubbard W McDonald Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr William Naso

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Paul Seward

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • Mr Robby Sisco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr J Brent Tiller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr E Hood Temple

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Kevin M Barth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Luther F Carter

    PRESIDENT

    Total calculated
    $780,505
    From this org
    $510,000
    From related orgs
    $256,105
    Other
    $14,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $510,000 + $256,105 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $14,400
    Filer's total
    $524,400 + $256,105 related

  • Ms Lauren Stanton

    EXECUTIVE DI

    Total calculated
    $129,658
    From this org
    $0
    From related orgs
    $117,658
    Other
    $12,000

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

  • FRANCIS MARION UNIVERSITY

    $236,063

    ASSIST UNIVERSITY

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
30 May 2023
IRS schema version
2022v5.0
Source object
202331989349301803

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