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Nonprofiteer
← SOUTH CAROLINA STATE UNIVERSITY FOUNDATION INC

Form 990 for tax year 2022

Filed by SOUTH CAROLINA STATE UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$5,272,218
Total expenses
$3,452,026
Contributions and grants received
$4,864,617
Grants paid
$1,029,362
Program service revenue
$0
Investment income
$604,064
Other revenue
-$196,463
Total assets, end of year
$16,297,661
Total liabilities, end of year
$143,008
Net assets or fund balances, end of year
$16,154,653
Program services expenses (Part IX)
$2,596,660
Management and general expenses
$854,406
Fundraising expenses
$960
Program service expenses (Part III)
$2,596,660

Program services were 75.2% 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

    $300,362

  • 1f · All other contributions, gifts and grants

    $4,564,255

  • 1g · Noncash contributions included above

    $13,500

  • 3 · Investment income

    total $347,384 · related or exempt $347,384

  • 6a · Gross rents

    personal property $12,286

  • 6b · Less rental expenses

    personal property $12,350

  • 6c · Rental income or loss

    personal property -$64

  • 6d · Net rental income or loss

    total -$64 · related or exempt -$64

  • 7a · Gross sales of assets other than inventory

    securities $14,074,068

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

    securities $13,817,388

  • 7c · Gain or loss

    securities $256,680

  • 7d · Net gain or loss

    total $256,680 · related or exempt $256,680

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

    $300,362

  • 8b · Fundraising events: direct expenses

    $198,361

  • 8c · Net income from fundraising events

    total -$198,361

  • 11a · Other revenue: OTHER INCOME

    total $1,962 · related or exempt $1,962

  • 11e · Other revenue, total

    $1,962

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,029,362 · program services $1,029,362

  • 7 · Other salaries and wages

    total $142,937 · program services $17,889 · management and general $125,048

  • 8 · Pension plan contributions

    total $7,410 · management and general $7,410

  • 9 · Other employee benefits

    total $2,603 · management and general $2,603

  • 11a · Fees: management

    total $173,234 · program services $68,170 · management and general $105,064

  • 11b · Fees: legal

    total $19,588 · management and general $19,588

  • 11c · Fees: accounting

    total $4,055 · management and general $4,055

  • 11f · Fees: investment management

    total $49,028 · program services $40,453 · management and general $8,575

  • 11g · Fees: other

    total $153,046 · program services $108,147 · management and general $44,899

  • 12 · Advertising and promotion

    total $690,876 · program services $497,490 · management and general $193,386

  • 13 · Office expenses

    total $27,084 · program services $15,309 · management and general $11,775

  • 14 · Information technology

    total $40,499 · program services $10,569 · management and general $29,930

  • 16 · Occupancy

    total $2,405 · management and general $2,405

  • 17 · Travel

    total $245,388 · program services $184,949 · management and general $60,439

  • 23 · Insurance

    total $11,350 · program services $698 · management and general $10,652

  • 24a · Other expenses: CATERING

    total $320,900 · program services $193,440 · management and general $127,460

  • 24b · Other expenses: ATHLETIC SUPPORT

    total $185,107 · program services $164,243 · management and general $20,864

  • 24c · Other expenses: SMALL EQUIPMENT PURCHASES

    total $98,356 · program services $97,768 · management and general $588

  • 24d · Other expenses: BANK AND CC FEES

    total $50,591 · program services $40,257 · management and general $10,334

  • 24e · All other expenses

    total $198,207 · program services $127,916 · management and general $69,331 · fundraising $960

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,156,925 · end of year $5,111,339

  • 3 · Pledges and grants receivable

    beginning of year $647,304 · end of year $447,999

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

    $146,900

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

    $123,200

  • 10c · Land, buildings and equipment, net

    beginning of year $23,700 · end of year $23,700

  • 11 · Investments: publicly traded securities

    beginning of year $13,066,019 · end of year $10,175,214

  • 15 · Other assets

    beginning of year $539,409 · end of year $539,409

  • 17 · Accounts payable and accrued expenses

    beginning of year $235,033 · end of year $143,008

  • 27 · Net assets without donor restrictions

    beginning of year $1,585,519 · end of year $1,890,015

  • 28 · Net assets with donor restrictions

    beginning of year $15,612,805 · end of year $14,264,638

Mission and programs · 2022

Mission

TO FOSTER AND PROMOTE THE GROWTH OF SOUTH CAROLINA STATE UNIVERSITY BY RECEIVING, INVESTING, AND EXPENDING FUNDS FOR THE EXCLUSIVE BENEFIT OF THE UNIVERSITY.

  • RECEIVE, INVEST, AND EXPEND FUNDS FOR THE EXCLUSIVE BENEFIT OF THE UNIVERSITY. DURING THE CURRENT YEAR, THE FOUNDATION MADE GRANTS TO THE UNIVERSITY SO THAT THE UNIVERSITY WAS ABLE TO PROVIDE SCHOLARSHIPS TO STUDENTS.

    Expenses $2,596,660 · Grants $1,029,362

As filed on the 2022 return.

Listed in Part VII

  • Stephen V Beatty

    CHAIR & INTE

    Total calculated
    $0
    Hours/week
    17.5

  • Vernell T Brown

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Edwena L Crowe

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • Ethell Vereen Jr

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Edward D Williams

    EX-OFFICIO D

    Total calculated
    $0

  • George K Quick

    EX-OFFICIO D

    Total calculated
    $0

  • Alexander Conyers

    EX-OFFICIO D

    Total calculated
    $0

  • Henry Allen

    EX-OFFICIO D

    Total calculated
    $0

  • Douglas D Gantt

    EX-OFFICIO D

    Total calculated
    $0

  • Zyah Cephus

    EX-OFFICIO D

    Total calculated
    $0

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202333069349302103

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