Liabilities / Assets
86th percentile
Higher debt load relative to assets than 86% of similar nonprofits.
Francis Marion University Development Foundation
990 • Fiscal year 2017 • EIN 20-0118161
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.82x
Liabilities / Revenue
90th percentile
Higher debt load relative to revenue than 90% of similar nonprofits.
Net Margin
11th percentile
Higher net margin than 11% of similar nonprofits.
Top Officer Pay
30th percentile
Higher top officer pay than 30% of similar nonprofits.
Top officer pay equals 2.7% of source-year revenue.
Asset Growth
7th percentile
Faster asset growth than 7% of similar nonprofits.
Revenue Growth
31st percentile
Faster revenue growth than 31% of similar nonprofits.
Balance Sheet
Assets
Down$25,591,221
Down $2,614,898 (-9.3%) from 2016
Net Assets
Down$4,620,900
Down $1,034,759 (-18%) from 2016
Liabilities
Down$20,970,321
Down $1,580,139 (-7.0%) from 2016
Revenue And Expenses
Revenue
Down$6,580,229
Down $23,594 (-0.4%) from 2016
Expenses
Up$7,614,988
Up $1,328,975 (+21%) from 2016
Net Income
Down-$1,034,759
Down $1,352,569 (-426%) from 2016
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2016 to Jun 30, 2017
- Signed
- May 9, 2018
- Return Version
- 2016v3.1
- Gross Receipts
- $6,580,229
Mission and Program Overview
Mission
The foundation is organized and operated exclusively for the benefit of francis marion university, specifically in management of student housing, other real property, and acceptance of gifts and other support as agreed upon by the foundation's board of directors and the university.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $13,149,301 | $12,705,501 | ▼ $443,800 |
| Savings and Temporary Cash Investments | $11,038,067 | $10,138,539 | ▼ $899,528 |
| Prepaid Expenses and Deferred Charges | $2,695,401 | $2,531,279 | ▼ $164,122 |
| Accounts Receivable | $341,740 | $183,070 | ▼ $158,670 |
| Cash and Non-Interest-Bearing Accounts | $100,377 | $32,832 | ▼ $67,545 |
| Total Assets | $28,206,119 | $25,591,221 | ▼ $2,614,898 |
| Other Assets Total | $881,233 | - | - |
| Liabilities | |||
| Tax Exempt Bond Liabilities | $22,010,560 | $20,400,123 | ▼ $1,610,437 |
| Accounts Payable and Accrued Expenses | $396,896 | $387,128 | ▼ $9,768 |
| Deferred Revenue | $143,004 | $183,070 | ▲ $40,066 |
| Total Liabilities | $22,550,460 | $20,970,321 | ▼ $1,580,139 |
| Net Assets / Fund Balance | |||
| Temporarily Rstr Net Assets | $4,661,989 | $4,645,261 | ▼ $16,728 |
| Unrestricted Net Assets | $993,670 | $-24,361 | ▼ $1,018,031 |
| Total Net Assets Fund Balance | $5,655,659 | $4,620,900 | ▼ $1,034,759 |
| Total Liabilities and Net Assets / Fund Balance | $28,206,119 | $25,591,221 | ▼ $2,614,898 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $12,273,674 | $4,794,412 | $17,068,086 |
| Leasehold Improvements | $424,491 | $147,824 | $572,315 |
| Equipment | - | $391,915 | $391,915 |
| Other Land Buildings | $7,336 | $12,664 | $20,000 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Other | Total |
|---|---|---|---|---|
| Erika S Cook | Executive Di | PT | $66,718 | $66,718 |
Board Members and Trustees
| Name | Title |
|---|---|
| Sompong Kraikit | Chairman |
| Gail Richardson | Vice-chairpe |
| Kathy Heustess | Director |
| Paul Seward | Secretary |
| John Kispert | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Laerdal | Simulators | 167 MYERS CORNERS ROAD, Wapingers Falls, NY 12590 | $186,947 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $247,500
- Program Service Revenue
- $6,323,325
- Investment Income
- $9,239
- Other Revenue
- $165
- All Other Contributions
- $247,500
- Change in Net Assets
- $-1,034,759
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $6,568,307
- Revenue Not Reported on Financial Statements
- $11,922
- Total Revenue per Audited Statements
- $6,568,307
- Total Revenue per Form 990
- $6,580,229
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $4,578,084 |
| Grants and Similar Amounts Paid | $3,036,904 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $3,036,904 | - | - | $3,036,904 |
| Fees for Services Management | $2,488,388 | - | - | $2,488,388 |
| Interest | $852,624 | - | - | $852,624 |
| Occupancy | $567,352 | - | - | $567,352 |
| Depreciation Depletion | $489,452 | - | - | $489,452 |
| Insurance | $95,268 | $4,651 | - | $99,919 |
| Fees for Services Other | - | $44,244 | - | $44,244 |
| Fees for Services Accounting | - | $22,492 | - | $22,492 |
| Fees for Service Investment Mgmnt Fees | $11,922 | - | - | $11,922 |
| Office Expenses | - | $1,691 | - | $1,691 |
| Total Functional Expenses | $7,541,910 | $73,078 | $0 | $7,614,988 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $7,614,988 |
| Expenses per Audited Statements | $7,603,066 |
| Total Expenses per Audited Statements | $7,603,066 |
| Expenses Not Reported on Financial Statements | $11,922 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Fmu Education Foundation | Florence, SC | 501c3 | University Support | $2,329,031 |
| Francis Marion University | Florence, SC | 170b1a | University Support | $707,873 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Bond Issues
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| B | Sc Jobs - Econ Dev Bonds | 2014-11-12 | $13,404,505 | REFINANCE 2004A BONDS |
| A | Sc Jobs - Econ Dev Auth | 2006-12-29 | $10,249,182 | Construction of student housing |
Bond Proceeds
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| B | $13,404,505 | $13,145,753 | $1,509,505 | $258,752 |
| A | $10,249,182 | $786,558 | $1,359,182 | $204,296 |
Bond Financing Compliance
- Form 8038-T filed
- Yes
- Gross proceeds invested
- No
- Gross proceeds invested in GIC
- No
- Corrective action procedures
- Yes
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 2
“Francis marion university(fmu) john kispert rep. For president of univer. Francis marion university(fmu) erika cook employee of fmu francis marion university(fmu) gail richardson fmu board of trustee”
Form 990, Page 6, Part VI, Line 11B
“The full board of the foundation is provided a copy of the 990 prior to submission to the irs. When a meeting of the full board prior to submission is not feasible, the board is given the 990 and provided a two week comment period. Formal approval is documented by the chairman and treasurer of the board. If a meeting isn't held prior to submission to the irs, a full briefing is provided at the next meeting and approval of the entire board is obtained then.”
Form 990, Page 6, Part VI, Line 12C
“This conflict of interst is reviewed each year through the review of the foundation's bylaws after which the board is required to have each member sign the foundation's annual statement form noting that each member has reviewed the bylaws, noted the conflict of interest policy, and understand the requirements set forth there in. No such violations of the conflict of interest policy has occurred to date. The executive director of the foundation continually monitors transactions to ensure the foundation's bylaws and controlds are adhered to.”
Form 990, Page 6, Part VI, Line 15A
“Foundation only compensates the executive director of the foundation. Compensation is through a reimbursement agreement the foundation has with the university to compensate the executive director in an amount agreed to by the foundation's board based on time and compensation based on similar organization's noted policies.”
Form 990, Page 6, Part VI, Line 19
“All documents (bylaws, conflict of interest policy, and financial documents)are available upon request from the foundation.”
Filing and Contact Details
Filer
- Filer Name
- Francis Marion University
- EIN
- 20-0118161
- Phone
- 8436611131
- Address
- PO BOX 100547, FLORENCE, SC 29502-0547
Signing Officer
- Name
- Erika S Cook
- Title
- Executive Director
- Phone
- 8436611131
- Signed
- 2018-05-09
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Erika S Cook
- Formed
- 2003
- Legal Domicile
- Sc
- Voting Board Members
- 5
- Independent Board Members
- 4
- Employees
- 0
- Volunteers
- 5
Preparer
- Firm
- Cline Brandt Kochenower & Co Pa
- Address
- 1225 W FLOYD BAKER BLVD, GAFFNEY, SC 29341
- Preparer
- Timothy S Blake CPA
- Phone
- 8644897121
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S MISSION
“The foundation is organized and operated exclusively for the benefit of francis marion university specifically in management of student housing, other real property, and acceptance of gifts and other support as agreed upon by the foundation's board of directors and the university.”
Form 990, Page 2, Part III, Line 4A
“Reimbursed for all expenses related to this service.”
Form 990, Part X
“In 2016, the organization retroactively adopted the requirements in fasb asc 835-30 to present debt issuance costs as a reduction of the carrying amount of the debt rather than as an asset. Long-term debt as of june 30, 2016 was previously reported in the statement of financial position as 22,010,560 with the associated 881,233 unamortized debt issuance cost included in other assets.”
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| IRS990/Desc | 0 | THE FOUNDATION, AS PART OF ITS MISSION TO SUPPORT THE UNIVERSITY, IS REQUIRED TO OPERATE, MAINTAIN, AND LEASE HOUSING FACILITIES FOR STUDENTS AND FACULTY. THE PROGRAM SERVICE IS CARRIED OUT THROUGH THE FOUNDATION'S SINGLE MEMBER FMU STUDENT HOUSING, LLC. ALL REVENUE GENERATED BY THE LLC FROM HOUSING SERVICES ARE MANAGED AND HELD BY THE FOUNDATION. HOUSING SERVICES ARE PROVIDED PRIMARILY DURING THE FALL AND SPRING SEMESTERS WITH MINOR REVENUES BEING RECEIVED FOR SUMMER SEMESTERS, FEES AND FINES AND SUMMER CAMP HOUSING FOR FMU SUMMER PROGRAMS. FALL 2016 HAD AN OCCUPANCY OF 90.12% OR 1,387 OF 1,539 AVAILABLE BEDS. SPRING 2017 HAD AN OCCUPANCY OF 79.34% OR 1,221 OF 1,539 AVAILABLE BEDS. PROPERTY MANAGEMENT IS CONTRACTED OUT TO THE UNIVERSITY WHICH IS PAID 125,000 FOR THIS SERVICES AND REIMBURSED FOR ALL EXPENSES RELATED TO THIS SERVICE. |
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| IRS990/MissionDesc | 0 | THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF FRANCIS MARION UNIVERSITY SPECIFICALLY IN MANAGEMENT OF STUDENT HOUSING, OTHER REAL PROPERTY, AND ACCEPTANCE OF GIFTS AND OTHER SUPPORT AS AGREED UPON BY THE FOUNDATION'S BOARD OF DIRECTORS AND THE UNIVERSITY. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 5655659 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 4620900 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 567352 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 567352 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 1691 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 1691 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OnBehalfOfIssuerInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 881233 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER INCOME |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 165 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 165 |
| IRS990/OtherRevenueTotalAmt | 0 | 165 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 2695401 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 2531279 |
| IRS990/PrincipalOfficerNm | 0 | ERIKA S COOK |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 531110 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | HOUSING SERVICES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 6323325 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 6323325 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | THE FOUNDATION IS A PROGRAM SUPPORTED AGENCY AND ACTS IN ACCORDANCE WITH ITS NONPROFIT STATUS TO PROVIDE SUPPORT TO FRANCIS MARION UNIVERSITY. ALL DONATIONS IN KIND OR IN CASH ARE REPORTED BY THE SUPPORTED ORGANIZATION AS GIFTS FROM THE DEVELOPMENT FOUNDATION. THE DEVELOPMENT FOUNDATION PROVIDES DONATIONS TO THE EDUCATION FOUNDATION, WHICH IS A RELATED PARTY TO FRANCIS MARION UNIVERSITY. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 3036904 |
| IRS990/ProgSrvcAccomActy2Grp/GrantAmt | 0 | 3036904 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | THE FOUNDATION, AS PART OF ITS MISSION TO SUPPORT FRANCIS MARION UNIVERSITY, PERIODICALLY ACQUIRES PROPERTY WITH THE INTENT OF USE BY THE FOUNDATION OR THE UNIVERSITY OUTSIDE OF THE STUDENT HOUSING SERVICES ALREADY PROVIDED. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 1861900 |
| IRS990/PYInvestmentIncomeAmt | 0 | 4979 |
| IRS990/PYOtherExpensesAmt | 0 | 4409113 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 6598844 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 317810 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 15000 |
| IRS990/PYTotalExpensesAmt | 0 | 6286013 |
| IRS990/PYTotalRevenueAmt | 0 | 6603823 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -1034759 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | true |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 6323325 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 11038067 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 10138539 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd | 0 | true |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | false |
| IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd | 0 | true |
| IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd | 0 | true |
| IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd | 0 | X |
| IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd | 0 | X |
| IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd | 0 | true |
| IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd | 0 | true |
| IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd | 0 | true |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | THE BUDGET IS APPROVED BY THE FOUNDATION'S BOARD OF DIRECTORS AND SUBMITTED TO THE UNIVERSITY AS INFORMATION. THE UNIVERSITY HAS SIGNIFICANT INPUT AND EXERCISES SIGNIFICANT INFLUENCE WITH REGARD TO THE USE OF THE ORGANIZATIONS RESOURCES, AS PROVIDED IN THE BYLAWS. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 1 | FRANCIS MARION UNIVERSITY DEVELOPMENT FOUNDATION IS OPERATED FOR THE BENEFIT OF FRANCIS MARION UNIVERSITY SPECIFICALLY TO ACQUIRE, CONSTRUCT, FINANCE, PLEDGE, MAINTAIN, OPERATE, MANAGE AND LEASE HOUSING FACILITIES FOR STUDENTS AND FACULTY OF THE UNIVERSITY AND OTHER REAL PROPERTY (AND RELATED PERSONAL PROPERTY) FOR THE BENEFIT AND SUPPORT OF THE UNIVERSITY. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 2 | FRANCIS MARION UNIVERSITY DEVELOPMENT FOUNDATION WAS CREATED TO SUPPORT FRANCIS MARION UNIVERSITY THROUGH OPERATING, MANAGING AND LEASING HOUSING FACILITIES FOR STUDENTS AND FACULTY OF THE UNIVERSITY. THE FOUNDATION HAS CONTINUED ITS SUPPORT TO THE UNIVERSITY BY PERFORMING THE ACTIVITIES DESCRIBED. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 3 | THE HOUSING FACILITIES ARE NECESSARY AND INDISPENSABLE TO THE CONTINUING EXISTENCE AND OPERATION OF THE UNIVERSITY. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | PART IV, SECTION D, LINE 3 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 1 | PART IV, SECTION E, LINE 1C |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 2 | PART IV, SECTION E, LINE 2A |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 3 | PART IV, SECTION E, LINE 2B |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 570522624 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | true |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 6 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 707873 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | FRANCIS MARION UNIVERSITY |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt | 0 | FRANCIS MARION UNIVERSITY |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType3FuncIntInd | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 707873 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 12273674 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 4794412 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 17068086 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 391915 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 391915 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 11922 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 7603066 |
| IRS990ScheduleD/InvestmentExpensesNotIncld2Amt | 0 | 11922 |
| IRS990ScheduleD/InvestmentExpensesNotIncldAmt | 0 | 11922 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 424491 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 147824 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 572315 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 7336 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 12664 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 20000 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 11922 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 6568307 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 12705501 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 7614988 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 6580229 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 6568307 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 7603066 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | false |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 707873 |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 1 | 2329031 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 170B1A |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 1 | 501C3 |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | UNIVERSITY SUPPORT |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 1 | UNIVERSITY SUPPORT |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | FRANCIS MARION UNIVERSITY |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 1 | FMU EDUCATION FOUNDATION |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 570522624 |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 1 | 237432174 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | PO BOX 100547 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 1 | PO BOX 100547 |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | FLORENCE |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 1 | FLORENCE |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | SC |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 1 | SC |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 29502 |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 1 | 29502 |
| IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc | 0 | BOOK |
| IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc | 1 | BOOK |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | THE FOUNDATION DOES NOT AWARD GRANTS BUT PROVIDES OTHER ASSITANCE IN THE FORM OF CONTRIBUTIONS AND NON-CASH CONTRIBUTIONS TO THE UNIVERSITY AND ITS EDUCATION FOUNDATION AS SUPPORT FOR THE UNIVERSTIY AS OUR 509(A)(3) STATUS REQUIRES. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE I, PAGE 1, PART I, LINE 2 |
| IRS990ScheduleI/Total501c3OrgCnt | 0 | 2 |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | false |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | false |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | false |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | false |
| IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd | 0 | false |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | false |
| IRS990ScheduleJ/InitialContractExceptionInd | 0 | false |
| IRS990/ScheduleJRequiredInd | 0 | true |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 151488 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 25354 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | JOHN KISPERT |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | TREASURER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 176842 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | false |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | false |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd | 1 | B |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd | 0 | true |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd | 1 | true |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd | 1 | B |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd | 0 | true |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd | 1 | true |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd | 0 | true |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd | 1 | true |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt | 0 | 2006-12-29 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt | 1 | 2014-11-12 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN | 0 | 570960018 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN | 1 | 570960018 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd | 1 | B |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum | 0 | 83704LAS7 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum | 1 | 837031TL7 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt | 0 | 10249182 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt | 1 | 13404505 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt | 0 | SC JOBS - ECON DEV AUTH |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt | 1 | SC JOBS - ECON DEV BONDS |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc | 0 | CONSTRUCTION OF STUDENT HOUSING |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc | 1 | REFINANCE 2004A BONDS |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd | 1 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd | 1 | B |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd | 1 | false |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2017 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $25,591,221
- Liabilities
- $20,970,321
- Net assets
- $4,620,900
- Revenue
- $6,580,229
- Expenses
- $7,614,988
- Net income
- -$1,034,759