University Of South Carolina School Of Medicine Educational Trust
- Assets
- $62.4m
- Revenue
- $42.8m
- Investments
- $11.7m
- Employees
- 156
- Location
- Columbia, SC
- Founding
- 09/1980
- Data as of
- 06/2022
- EIN
- 57-0705675
Organization Overview
University Of South Carolina School Of Medicine Educational Trust is located in Columbia, SC. The organization was established in 1980. As of 06/2022, University Of South Carolina School Of Medicine Educational Trust employed 156 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of South Carolina School Of Medicine Educational Trust 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, University Of South Carolina School Of Medicine Educational Trust generated $42.8m 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 (7.0%) each year. All expenses for the organization totaled $42.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (7.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE THE EXEMPT FUNCTION OF UNIVERSITY OF SOUTH CAROLINA SCHOOL OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF UNIVERSITY OF SOUTH CAROLINA SCHOOL OF MEDICINE AND ITS CLINICAL FACILITIES.
THE TRUST OWNS AND OPERATES TWO PROFESSIONAL MEDICAL OFFICE BUILDINGS ADJACENT TO THE CAMPUS OF PRISMA HEALTH RICHLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jackson III James Benjamin Highest Compensated Employ | 1 | $1,374,116 | |
Grabowski Gregory Highest Compensated Employ | 1 | $1,250,326 | |
Guy Jeffery A Highest Compensated Employ | 1 | $1,069,203 | |
Dumont Guillaume Highest Compensated Employ | 1 | $949,705 | |
Christopher Mazoue Chair, Department Of Ortho | Trustee | 1 | $890,397 |
Mazoue Christopher G Highest Compensated Employ | 1 | $890,397 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prisma Health Medical Group Purchase/reimbursement Of Labor And Asso | 6/29/22 | $945,867 |
Prisma Health Upstate Rural Health/center Of Excellence Projec | 6/29/22 | $429,986 |
Mcleod Health Rural Health/center Of Excellence Projec | 6/29/22 | $177,257 |
Merrill Retirement And Personal Wealth S Investment/retirement Plan Services | 6/29/22 | $146,409 |
South Carolina Office Of Rural Health Rural Health Enhancement Group Program | 6/29/22 | $120,000 |
Financial Statements
| 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $265,562 |
| Investment income | $674,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,435,968 |
| Net Gain/Loss on Asset Sales | $166,606 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,795,918 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $600,217 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,063,083 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,755,484 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $95,729 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $167,942 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,916 |
| Office expenses | $55,945 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $829,441 |
| Travel | $8,937 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,010 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $751,116 |
| Insurance | $96,781 |
| All other expenses | $0 |
| Total functional expenses | $42,319,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,330,821 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,451,082 |
| 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 | $0 |
| Net Land, buildings, and equipment | $11,092,611 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,657,588 |
| Investments—program-related | $0 |
| Intangible assets | $1,214,788 |
| Other assets | $4,683,616 |
| Total assets | $62,430,506 |
| Accounts payable and accrued expenses | $5,157,683 |
| Grants payable | $0 |
| Deferred revenue | $17,401,796 |
| Tax-exempt bond liabilities | $1,700,000 |
| 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 | $5,966,810 |
| Total liabilities | $30,226,289 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $32,204,217 |
| Total liabilities and net assets/fund balances | $62,430,506 |
Grants Awarded
Over the last fiscal year, University Of South Carolina School Of Medicine Educational Trust has awarded $490,887 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Columbia, SC PURPOSE: IN SUPPORT OF SCHOOL OF MEDICINE PROGRAMS, DEVELOPMENT AND ACTIVITIES | $300,056 |
UNIVERSITY OF SOUTH CAROLINA PURPOSE: IN SUPPORT OF ITS VARIOUS PROGRAMS | $190,831 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that University Of South Carolina School Of Medicine Educational Trust has recieved totaling $12,212.
| Awarding Organization | Amount |
|---|---|
Cornell University Ithaca, NY | | $6,106 |
Cornell University Ithaca, NY | | $6,106 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
Anderson University Anderson, SC | $269,873,980 | $130,183,026 |
University Of Georgia Foundation Athens, GA | $1,813,135,367 | $241,177,913 |
Wofford College Spartanburg, SC | $486,613,567 | $116,076,279 |
Lynn University Inc Boca Raton, FL | $203,973,646 | $119,511,324 |
Palm Beach Atlantic University Inc West Palm Beach, FL | $243,912,659 | $119,213,584 |
John S And James L Knight Foundation Inc Miami, FL | $2,530,104,679 | $183,144,507 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
University Of Lynchburg Lynchburg, VA | $240,911,893 | $116,895,847 |
Charleston Southern University Charleston, SC | $197,723,286 | $118,040,499 |
Cognia Inc Alpharetta, GA | $102,388,761 | $111,051,671 |
Marymount University Arlington, VA | $272,414,108 | $118,614,940 |