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← CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION INC

Form 990 for tax year 2022

Filed by CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION INC.

Totals

Total revenue
$7,345,287
Total expenses
$4,333,358
Contributions and grants received
$1,710,332
Grants paid
$0
Program service revenue
$5,595,587
Investment income
$39,368
Other revenue
$0
Total assets, end of year
$121,798,578
Total liabilities, end of year
$70,396,157
Net assets or fund balances, end of year
$51,402,421
Program services expenses (Part IX)
$3,900,082
Management and general expenses
$433,276
Fundraising expenses
$0
Program service expenses (Part III)
$3,900,082

Program services were 90.0% 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.

  • 1e · Government grants (contributions)

    $1,710,332

  • 2a · Program service revenue: RENTAL REVENUES

    total $5,392,325 · related or exempt $5,392,325

  • 2b · Program service revenue: RE SERVICES TO SUPPORT

    total $170,343 · related or exempt $170,343

  • 2c · Program service revenue: MANAGEMENT FEE

    total $30,000 · related or exempt $30,000

  • 2d · Program service revenue: DIRECT FINANCING LEASE

    total $2,919 · related or exempt $2,919

  • 3 · Investment income

    total $39,368 · excluded $39,368

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $26,578 · program services $26,578

  • 11c · Fees: accounting

    total $17,836 · management and general $17,836

  • 11g · Fees: other

    total $559,489 · program services $559,489

  • 13 · Office expenses

    total $3,193 · management and general $3,193

  • 14 · Information technology

    total $5,004 · management and general $5,004

  • 16 · Occupancy

    total $1,236,474 · program services $1,236,474

  • 19 · Conferences, conventions and meetings

    total $8,857 · management and general $8,857

  • 20 · Interest

    total $1,594,049 · program services $1,594,049

  • 22 · Depreciation, depletion and amortization

    total $229,186 · program services $25,683 · management and general $203,503

  • 23 · Insurance

    total $120,878 · program services $89,992 · management and general $30,886

  • 24a · Other expenses: SHARED SERVICES

    total $531,814 · program services $367,817 · management and general $163,997

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,006,420 · end of year $1,503,542

  • 2 · Savings and temporary cash investments

    beginning of year $3,180,565 · end of year $3,358,178

  • 4 · Accounts receivable

    beginning of year $160,401 · end of year $831,884

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

    $13,572,238

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

    $2,321,110

  • 10c · Land, buildings and equipment, net

    beginning of year $99,985,626 · end of year $11,251,128

  • 13 · Investments: program-related

    beginning of year $0 · end of year $95,592,648

  • 15 · Other assets

    beginning of year $9,758,022 · end of year $9,261,198

  • 17 · Accounts payable and accrued expenses

    beginning of year $174,528 · end of year $1,016,647

  • 19 · Deferred revenue

    beginning of year $356,272 · end of year $86,711

  • 23 · Secured mortgages and notes payable

    beginning of year $42,150,048 · end of year $46,201,925

  • 25 · Other liabilities

    beginning of year $23,019,694 · end of year $23,090,874

  • 27 · Net assets without donor restrictions

    beginning of year $48,390,492 · end of year $51,402,421

Mission and programs · 2022

Mission

TO RECEIVE AND MANAGE REAL PROPERTY AND RELATED ASSETS FOR THE BENEFIT OF CLEMSON UNIVERSITY THROUGH ACTIVE DEVELOPMENT, LEASING AND MANAGEMENT AND TO SOLICIT GIFTS IN SUPPORT OF THIS PURPOSE.

Activities or mission (Part I)

THE CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION SUPPORTS CLEMSON UNIVERSITY THROUGH DEVELOPMENT ACTIVITIES ASSOCIATED WITH REAL PROPERTY AND ECONOMIC DEVELOPMENT.

  • REAL ESTATE MANAGEMENT AND DEVELOPMENT - DEVELOPMENT AND MANAGEMENT OF REAL ESTATE INCLUDING ACADEMIC AND INDUSTRIAL SPACE FOCUSED ON AUTOMOTIVE DESIGN AND ENGINEERING. THIS COMBINED ACADEMIC AND ECONOMIC DEVELOPMENT EFFORT IS IN DIRECT SUPPORT OF THE MISSION OF CLEMSON UNIVERSITY.

    Expenses $3,900,082 · Revenue $5,595,587

As filed on the 2022 return.

Listed in Part VII

  • John S Whitaker

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Stephen F Hutchinson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • George J Bullwinkel III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David E Dukes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Daniel B Pattillo Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christopher J Perri

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mark S Richardson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • G Graham Segars Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William C Smith Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • F Bogue Wallin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jonathon P Weitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • M Karen McCauley

    PRESIDENT & CEO

    Total calculated
    $0
    Hours/week
    3 + 2 related

  • April S Purvis

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Alice Evatt

    TREASURER THRU 4/1/23

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Jason Przybyla

    ASSISTANT SECRETARY & TREASURER

    Total calculated
    $69,592
    From this org
    $0
    From related orgs
    $51,992
    Other
    $17,600
    Hours/week
    24.5 + 8 related

  • Regina Steele

    TREASURER FROM 4/1/23

    Total calculated
    $0
    Hours/week
    3 + 1 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.

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.

  • CLEMSON UNIVERSITY

    170(C)(1) · RESEARCH UNIVERSITY · SC

  • CLEMSON UNIVERSITY REAL ESTATE FOUNDATION

    501(C)(3) · RECEIVES, MANAGES, AND INVESTS GIFTS OF REAL ESTATE FOR CU AND CUF · SC

    Directly controlled by CLEMSON UNIVERSITY AND CLEMSON UNIVERSITY FOUNDATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LICAR LLC

    REAL ESTATE DEVELOPMENT · SC · income $6,658,267 · assets $99,092,260

    Directly controlled by CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION

  • LICAM LLC

    PROPERTY MANAGEMENT · SC · income $170,343 · assets $90,209

    Directly controlled by CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION

  • CULSF ONE

    PROPERTY MANAGEMENT · SC · income $355,305 · assets $8,690,133

    Directly controlled by CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION

  • CULSF TWO

    PROPERTY MANAGEMENT · SC · income $0 · assets $0

    Directly controlled by CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202411319349304246

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