University Of South Carolina Educational Foundation
- Assets
- $607.5m
- Revenue
- $89.2m
- Investments
- $267.5k
- Employees
- 27
- Location
- Columbia, SC
- Founding
- 02/1962
- Data as of
- 06/2022
- EIN
- 57-6017985
Organization Overview
University Of South Carolina Educational Foundation is located in Columbia, SC. The organization was established in 1962. 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 06/2023, University Of South Carolina Educational Foundation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of South Carolina Educational 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, University Of South Carolina Educational Foundation generated $89.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $51.0m during the year ending 06/2022. While expenses have increased by 6.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, University Of South Carolina Educational Foundation has awarded 102 individual grants totaling $156,247,529. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE UNIVERSITY OF SOUTH CAROLINA IN ITS ACADEMIC, RESEARCH AND CHARITABLE ENDEAVORS BY PROMOTING A CULTURE OF PHILANTHROPY, MANAGING AND STEWARDING DONOR GIFTS, AND PROVIDING FINANCIAL RESOURCES TO SUPPORT STUDENTS AND FACULTY NOW AND INTO THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AID THE UNIVERSITY IN ACHIEVING ITS MISSION AS THE STATE'S FLAGSHIP INSTITUTION OF HIGHER EDUCATION THROUGH THE ESTABLISHMENT/IMPLEMENTATION OF LONG-RANGE FUNDRAISING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rita Caughman Chair Emeritus | OfficerTrustee | 1 | $0 |
James Bennett Chair | OfficerTrustee | 1 | $0 |
Kenda Laughey Vice Chair | OfficerTrustee | 1 | $0 |
Pamela A Baker Director | Trustee | 1 | $0 |
James P Barrow Director | Trustee | 1 | $0 |
William D Chase Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Everett Sports Marketing Llc Marketing | 6/29/23 | $626,365 |
Fund Evaluation Group Investment Manager | 6/29/23 | $251,075 |
Southern Way Inc Food Service | 6/29/23 | $298,955 |
Aramark Services Inc Food Service | 6/29/23 | $292,106 |
Mercy Contracting Llc Construction | 6/29/23 | $238,129 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $121,289 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $42,443,214 |
| Noncash contributions included in lines 1a–1f | $1,430,760 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,564,503 |
| Total Program Service Revenue | $832,070 |
| Investment income | $6,718,406 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $186,787 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,713,240 |
| Net Income from Fundraising Events | -$2,828 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,201,263 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,678,675 |
| Grants and other assistance to domestic individuals. | $209,077 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,172,433 |
| Compensation of current officers, directors, key employees. | $1,172,433 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,178,257 |
| Pension plan accruals and contributions | $364,485 |
| Other employee benefits | $170,911 |
| Payroll taxes | $173,583 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,528 |
| Fees for services: Accounting | $49,069 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $295,489 |
| Fees for services: Other | $3,794,364 |
| Advertising and promotion | $59,584 |
| Office expenses | $1,064,257 |
| Information technology | $705,712 |
| Royalties | $0 |
| Occupancy | $819,899 |
| Travel | $681,857 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $147,368 |
| Interest | $118,469 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $357,905 |
| Insurance | $196,573 |
| All other expenses | $1,851,175 |
| Total functional expenses | $50,992,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400 |
| Savings and temporary cash investments | $6,392,065 |
| Pledges and grants receivable | $34,062,808 |
| Accounts receivable, net | $9,970,680 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,122,685 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $176,880 |
| Net Land, buildings, and equipment | $3,597,160 |
| Investments—publicly traded securities | $529,645,909 |
| Investments—other securities | $267,540 |
| Investments—program-related | $0 |
| Intangible assets | $1,006 |
| Other assets | $11,286,548 |
| Total assets | $607,523,681 |
| Accounts payable and accrued expenses | $7,614,778 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,612,372 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $6,809,011 |
| Other liabilities | $0 |
| Total liabilities | $25,036,161 |
| Net assets without donor restrictions | $104,173,514 |
| Net assets with donor restrictions | $478,314,006 |
| 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 | $607,523,681 |
Grants Awarded
Over the last fiscal year, University Of South Carolina Educational Foundation has awarded $18,163,566 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL MERIT SCHOLARSHIP CORP PURPOSE: SCHOLARSHIPS | $77,250 |
UNIVERSITY OF SOUTH CAROLINA PURPOSE: OPERATING-SCHOLARS | $17,414,009 |
CHILDREN'S CENTER AT USC PURPOSE: PROJECT SUPPORT | $672,307 |