College Of Charleston Foundation is located in Charleston, SC. The organization was established in 1971. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, College Of Charleston Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. College Of Charleston Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, College Of Charleston Foundation generated $11.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $12.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, College Of Charleston Foundation has awarded 26 individual grants totaling $42,873,317. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE EDUCATION, RESEARCH, AND DEVELOPMENT PROGRAMS FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE OF CHARLESTON
Describe the Organization's Program Activity:
SEE SCHEDULE O FOR A COMPLETE DESCRIPTION OF OUR ACCOMPLISHMENTSTHE COLLEGE OF CHARLESTON FOUNDATION HAS BEEN DEDICATED TO SUPPORTING THE ACTIVITIES AND GOALS OF THE COLLEGE FOR MORE THAN 50 YEARS. IN DOING SO, THE FISCAL YEAR ENDING JUNE 30, 2022 GARNERED NEARLY $23.2 MILLION IN TOTAL COMMITMENTS, A NEW HIGH-WATERMARK AND AN INCREASE OF MORE THAN 11 PERCENT OVER THE PREVIOUS FISCAL YEAR.SEVERAL POINTS OF PRIDE EMERGE FROM THE FOUNDATION'S FY22 ACCOMPLISHMENTS:-A TOTAL OF 9,086 DONORS SUPPORTED THE COLLEGE, AN INCREASE OF OVER 37% FROM THE PREVIOUS FISCAL YEAR-$7.3 MILLION IN CASH, STOCK AND IN-KIND RECEIPTS -41 NEW RESTRICTED FUNDS AND 34 NEW ENDOWMENT FUNDS WERE CREATED-$8.6 MILLION SECURED IN ESTATE INTENTIONS, AN INCREASE OF 10.7% FROM FY21-FRIENDS OF THE COLLEGE LED THE CONSTITUENCIES IN NEW COMMITMENTS WITH $8.5 MILLION-ALUMNI DONORS WERE SECOND ONLY TO FRIENDS AMONG CONSTITUENCIES, WITH MORE THAN $6.7 MILLION IN COMMITMENTS-PARENTS WERE THE THIRD MOST GENEROUS CONSTITUENCY WITH $3.8 MILLION IN COMMITMENTS-THE COMMITMENTS BY FACULTY AND STAFF INCREASED BY 105% FROM $276,000 TO $565,000-APPROXIMATELY 892 STUDENTS RECEIVED 1,193 SCHOLARSHIPS FUNDED THROUGH PHILANTHROPY FROM MORE THAN $4.1 MILLION MADE AVAILABLE IN SCHOLARSHIPS AND AWARDSTHE SECOND ANNUAL COFC DAY TOOK PLACE ON JANUARY 27, 2022 AND WAS ANOTHER SUCCESS RAISING A TOTAL OF $6,654,710 IN TOTAL COMMITMENTS FROM 2,555 DONORS. COFC DAY IS NOT ONLY A SUCCESSFUL FUNDRAISING DRIVE BUT IS ALSO QUICKLY BECOMING A WAY TO INSTILL PRIDE AND SPIRIT INTO THE HEARTS AND MINDS OF ALUMNI, PARENTS, FRIENDS, FACULTY/STAFF AND STUDENTS.
SEE SCHEDULE O FOR A COMPLETE DESCRIPTION OF OUR ACCOMPLISHMENTSTHE STORIES OF INSPIRATION AND MOTIVATION THAT TAKE PLACE BEHIND THE FIGURES SHOWCASE HOW GIVING IMPACTS THE COLLEGE OF CHARLESTON CAMPUS. THE FOLLOWING ARE EXAMPLES OF THE COMMITMENTS THAT SUSTAIN THE COLLEGE'S EFFORTS TO PROVIDE EXCELLENCE IN EDUCATION:SCHOLARSHIPS/AWARDS DONORS COMMITTED $1.5 MILLION IN THEIR ESTATE TO ESTABLISH THE JOHNNY AND KAY WALLACE ENDOWED SCHOLARSHIP FOR STUDENTS IN THE SCHOOL OF BUSINESS. A FOUNDATION PLEDGED $209,000 TO SUPPORT A NAMED SCHOLARSHIP PROGRAM, WHICH PROVIDES FINANCIAL ASSISTANCE TO FEMALE STUDENTS FROM SPECIFIC SOUTHERN STATES. THEIR TOTAL GIVING TO THE COFC FOUNDATION IS NEARLY $3 MILLION SINCE THE 1980S. A DONOR COMMITTED $160,000 IN HER ESTATE TO ESTABLISH THE LISA MATTHEWS ENDOWED SCHOLARSHIP. AN ALUMNUS COMMITTED $100,000 IN HIS ESTATE TO ESTABLISH TWO ENDOWED SCHOLARSHIP FUNDS AT THE COLLEGE AND PROVIDED $20,000 IN FUNDING FOR EACH ONE TO BEGIN AWARDING IMMEDIATELY. A DONOR COUPLE CONTRIBUTED $50,000 TO ESTABLISH AN ENDOWED SCHOLARSHIP TO SUPPORT STUDENTS PARTICIPATING IN THE STUDENT ALUMNI ASSOCIATES WHO DEMONSTRATE LEADERSHIP AND ARE INVOLVED IN EXTRACURRICULAR ACTIVITIES. A DONOR GAVE $100,000 TO ESTABLISH THE SEPTIMA CLARK AND ESAU AND JANIE B. JENKINS LOCAL LEGENDS ENDOWED SCHOLARSHIP FOR THE 1967 LEGACY PROGRAM.LIBRARIES MERRILL BERMAN GAVE A MULTIMEDIA COLLECTION COMPRISING CIVIL RIGHTS-ERA MATERIAL INCLUDING ORIGINAL AUDIO RECORDINGS OF MARTIN LUTHER KING, JR. AND RALPH ABERNATHY TO THE AVERY RESEARCH CENTER FOR AFRICAN AMERICAN HISTORY AND CULTURE. THE IN-KIND GIFT IS VALUED AT $275,000. THE GAYLORD AND DOROTHY DONNELLEY FOUNDATION PROVIDED A GRANT OF $100,000 IN SUPPORT OF THE AVERY RESEARCH CENTER'S "DOCUMENTING THE ARC: THE LOWCOUNTRY, CIVIL RIGHTS AND THE ERA OF BLACK LIVES MATTER."SCHOOL OF THE ARTS THE GAYLORD AND DOROTHY DONNELLEY FOUNDATION GAVE $20,000 IN SUPPORT OF THE HALSEY INSTITUTE OF CONTEMPORARY ART.SCHOOL OF LANGUAGES, CULTURES, AND WORLD AFFAIRS THE EASTWEST INSTITUTE GAVE $95,000 TO SUPPORT THE GLOBAL LEADERSHIP INSTITUTE. THE OLIVER S. AND JENNIE R. DONALDSON CHARITABLE TRUST GAVE $50,000 TO SUPPORT THE INTERNATIONAL SCHOLARS ENDOWED PROGRAM FUND, $32,000 TO THE AMERICAN UNIVERSITY IN CAIRO STUDY ABROAD AWARD, AND $18,000 TO THE LCWA DEAN'S EXCELLENCE FUND.ATHLETICS ROBB AND LYDIA TURNER COMMITTED $1.57 MILLION TO THE RENOVATION AND ESTABLISHMENT OF THE TURNER TENNIS CENTER AT PATRIOTS POINT. TWO DONORS PLEDGED $1 MILLION TO SUPPORT THE BASEBALL PERFORMANCE CENTER AT PATRIOTS POINT. A DONOR COUPLE PLEDGED $262,500 TO THE BASEBALL PERFORMANCE CENTER AT PATRIOTS POINT. A DONOR GAVE $250,000 TO THE BASEBALL PERFORMANCE CENTER AT PATRIOTS POINT.MULTIDISCIPLINARY PROGRAMS AN ANONYMOUS DONOR GAVE $250,000 TO SUPPORT THE RENOVATION OF THE STUDENT SUCCESS CENTER AT 58 GEORGE STREET. A PARENT COUPLE COMMITTED $200,000 TO SUPPORT THE RENOVATION OF THE STUDENT SUCCESS CENTER AT 58 GEORGE STREET. ALUMNI DONORS PLEDGED $165,000 TO SUPPORT THE NEWLY ESTABLISHED OFFICE OF PRESTIGIOUS SCHOLAR DEVELOPMENT IN ACADEMIC AFFAIRS.HONORS COLLEGE THE HONORS COLLEGE RECEIVED OVER $27,000 IN ANNUAL GIVING CONTRIBUTIONS.SCHOOL OF SCIENCES AND MATHEMATICS A DONOR COUPLE COMMITTED $1 MILLION IN THEIR ESTATE TO ESTABLISH AN ENDOWED BEAMS SUPPORT FUND IN MEMORY OF THEIR SON. AN ALUMNA AND HER HUSBAND COMMITTED $250,000 IN THEIR ESTATE TO A FUND TO SUPPORT FACILITIES IN THE SCHOOL OF SCIENCES AND MATHEMATICS. THEY ALSO COMMITTED A $250,000 PLANNED GIFT TO ESTABLISH AN ENDOWED SCHOLARSHIP.SCHOOL OF BUSINESS AN ANONYMOUS DONOR GAVE $200,000 TO SUPPORT THE CENTER FOR PUBLIC CHOICE AND MARKET PROCESS. QUEEN STREET HOSPITALITY GROUP PLEDGED $72,000 TO ESTABLISH THE QUEEN STREET HOSPITALITY GROUP ENDOWED SCHOLARSHIP.SCHOOL OF HUMANITIES AND SOCIAL SCIENCES A DONOR COUPLE COMMITTED $1.5 MILLION IN THEIR ESTATE TO ESTABLISH THE MARTIN CENTER FOR MENTORSHIP IN COMMUNICATION. A PARENT DONOR GAVE $100,000 TO ESTABLISH THE KENDALL SOISTMAN "SOARING ABOVE THE CLOUDS" ENDOWED SCHOLARSHIP FOR JUNIORS AND SENIORS MAJORING IN COMMUNICATION. A DONOR COMMITTED $60,600 TO ESTABLISH AN ENDOWED SCHOLARSHIPS FOR COMMUNICATION MAJORS. AN ANONYMOUS DONOR COMMITTED $125,000 IN THEIR ESTATE TO SUPPORT THE MFA ENDOWED PROGRAM SUPPORT FUND.SCHOOL OF EDUCATION A DONOR COMMITTED $187,500 IN HIS ESTATE TO SUPPORT THE SCHOOL OF EDUCATION DEAN'S EXCELLENCE FUND. A LONG-TIME DONOR COUPLE GAVE $100,000 THROUGH THEIR FOUNDATION TO SUPPORT THE JEREMY WARREN VANN MEMORIAL SCHOLARSHIP, WHICH SUPPORTS EDUCATION STUDENTS DURING THEIR CLINICAL PRACTICE SEMESTER.SCHOOL OF HEALTH AND HUMAN PERFORMANCE AN ANONYMOUS DONOR GAVE $59,260 TO SUPPORT THE GANGAROSA DIRECTOR OF BACHELOR OF SCIENCE IN PUBLIC HEALTH.UNRESTRICTED A DONOR COMMITTED $30,000 THROUGH HIS ESTATE TO SUPPORT THE 250TH AND BEYOND FUND. AN ANONYMOUS DONOR COMMITTED $125,000 IN THEIR ESTATE TO SUPPORT THE 250TH AND BEYOND FUND. AN ALUMNUS COMMITTED TWO SIX-FIGURE PLANNED GIFTS TO SUPPORT THE 250TH AND BEYOND FUND AND THE COFC FUND AREA OF GREATEST NEED.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mr Christopher R Tobin Former Evp-Cofc, Exc Dir Of Foundation | Officer | 20 | $249,096 |
Mr Andrew Hsu President, Cofc | Officer | 20 | $207,420 |
Ms Suzanne Austin Provost, Cofc | Officer | 20 | $100,000 |
Dr Alan Shao Dean, School Of Business - Cofc | 20 | $61,800 | |
Peggy G Boykin Chair | OfficerTrustee | 1 | $0 |
Stephen R Kerrigan Vice Chair | OfficerTrustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Aramark Services Inc Catering | 6/29/22 | $315,305 |
Truist Bank (Formerly Bb&t) Banking / Financial Services | 6/29/22 | $270,392 |
Charleston Green Construction/landscaping | 6/29/22 | $157,780 |
Education Advisory Board Consulting | 6/29/22 | $145,413 |
R William Funk & Associates Search Firm | 6/29/22 | $138,293 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $10,229,730 |
Noncash contributions included in lines 1a–1f | $3,117,150 |
Total Revenue from Contributions, Gifts, Grants & Similar | $10,229,730 |
Total Program Service Revenue | $0 |
Investment income | $5,562 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $695,491 |
Net Gain/Loss on Asset Sales | $36,972 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $11,402,265 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $5,156,654 |
Grants and other assistance to domestic individuals. | $388,476 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $556,516 |
Compensation of current officers, directors, key employees. | $124,548 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,518,957 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $341,197 |
Payroll taxes | $53,024 |
Fees for services: Management | $0 |
Fees for services: Legal | $51,867 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $48,920 |
Fees for services: Other | $655,705 |
Advertising and promotion | $90,347 |
Office expenses | $985,999 |
Information technology | $314,395 |
Royalties | $0 |
Occupancy | $217,809 |
Travel | $372,932 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $818,682 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $257,812 |
Insurance | $20,406 |
All other expenses | $0 |
Total functional expenses | $12,285,836 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,022,147 |
Savings and temporary cash investments | $3,646,097 |
Pledges and grants receivable | $5,653,910 |
Accounts receivable, net | $1,538,638 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $158,632 |
Net Land, buildings, and equipment | $5,318,099 |
Investments—publicly traded securities | $401,343 |
Investments—other securities | $137,851,934 |
Investments—program-related | $9,786,473 |
Intangible assets | $0 |
Other assets | $97,879 |
Total assets | $165,475,152 |
Accounts payable and accrued expenses | $477,527 |
Grants payable | $1,507,281 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $57,634 |
Total liabilities | $2,042,442 |
Net assets without donor restrictions | $16,768,587 |
Net assets with donor restrictions | $146,664,123 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $165,475,152 |
Over the last fiscal year, College Of Charleston Foundation has awarded $4,295,627 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
COLLEGE OF CHARLESTON PURPOSE: COLLEGE OF CHARLESTON: GRANTS PROVIDED TO THE COLLEGE OF CHARLESTON ARE USED TO PROMOTE PROGRAMS OF EDUCATION, RESEARCH, STUDENT DEVELOPMENT, AND FACULTY DEVELOPMENT IN ACCORDANCE WITH THE MISSION STATEMENT OF THE FOUNDATION. | $3,926,112 |
Charleston, SC PURPOSE: COLLEGE OF CHARLESTON COUGAR CLUB: OPERATIONAL SUPPORT | $219,515 |
Charleston, SC PURPOSE: COLLEGE OF CHARLESTON ALUMNI ASSOCIATION: PER A MEMORANDUM OF UNDERSTANDING (MOU) WITH THE ALUMNI ASSOCIATION OF THE COLLEGE OF CHARLESTON, THE COLLEGE OF CHARLESTON FOUNDATION SHALL PROVIDE AN AGREED UPON AMOUNT OF ANNUAL SUPPORT TO ENHANCE ALUMNI ENGAGEMENT AND PROGRAMS, WITH PAYMENTS DUE AT THE BEGINNING OF EACH QUARTER. THE MOU WAS EXECUTED ON DECEMBER 7, 2012 AND EFFECTIVE RETROACTIVELY TO JULY 1, 2012 FOR A THREE-YEAR PERIOD WITH THE APPROVAL OF THE FOUNDATION BOARD OF DIRECTORS AND THE ALUMNI ASSOCIATION BOARD OF DIRECTORS. THE MOU WAS RENIGOTIATED IN 2015 FOR AN ADDITIONAL THREE YEARS. FOR THE FISCAL YEAR JULY 1, 2019 - JUNE 30, 2022 THE FOUNDATION PAID THE ALUMNI ASSOCIATION $150,000 IN ACCORDANCE WITH THE MOU. | $150,000 |
Over the last fiscal year, we have identified 1 grants that College Of Charleston Foundation has recieved totaling $6,000.
Awarding Organization | Amount |
---|---|
The Mdc Foundation Charlottesville, VA PURPOSE: GENERAL | $6,000 |
Beg. Balance | $128,582,206 |
Earnings | -$5,821,972 |
Net Contributions | $6,681,502 |
Other Expense | $5,409,438 |
Ending Balance | $124,032,298 |
Organization Name | Assets | Revenue |
---|---|---|
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
Clemson University Foundation Clemson, SC | $1,240,950,463 | $112,486,660 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Kenan-Flagler Business School Foundation Chapel Hill, NC | $259,673,453 | $44,675,511 |
Citadel Foundation Charleston, SC | $326,373,655 | $48,215,262 |
University Of North Carolina At Chapel Hill Foundation Inc Chapel Hill, NC | $514,921,690 | $19,950,644 |
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Building Equity Sooner For Tomarrow Greenville, SC | $493,697,004 | $17,744,355 |