Civic Intelligence

South Carolina State University Foundation Inc.

990 • Fiscal year 2020 • EIN 23-7113930

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileWWW.SCSU.EDU/GIVETOSCSTATE/SCSTATEUNIV
PO Box 7187Orangeburg, SC 29117-0001

(803) 516-4722

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

9th percentile

0.01x

Higher debt load relative to revenue than 9% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

91st percentile

51%

Higher net margin than 91% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

68th percentile

15%

Faster asset growth than 68% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

30th percentile

-7.5%

Faster revenue growth than 30% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$14,186,661

Up $1,896,081 (+15%) from 2019

Net Assets

Up

$14,145,017

Up $2,588,627 (+22%) from 2019

Liabilities

Down

$41,644

Down $692,546 (-94%) from 2019

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin91st percentile

Revenue

Down

$3,118,639

Down $253,237 (-7.5%) from 2019

Expenses

Down

$1,534,545

Down $802,424 (-34%) from 2019

Net Income

Up

$1,584,094

Up $549,187 (+53%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2012: $6,787,787Liabilities 2012: $16,609Net Assets 2012: $6,771,1782012Assets 2013: $7,856,750Liabilities 2013: $10,044Net Assets 2013: $7,846,7062013Assets 2014: $7,674,649Liabilities 2014: $645,424Net Assets 2014: $7,029,2252014Assets 2015: $8,127,772Liabilities 2015: $319,783Net Assets 2015: $7,807,9892015Assets 2016: $9,002,404Liabilities 2016: $220,122Net Assets 2016: $8,782,2822016Assets 2017: $9,736,512Liabilities 2017: $95,405Net Assets 2017: $9,641,1072017Assets 2018: $9,671,849Liabilities 2018: $401,425Net Assets 2018: $9,270,4242018Assets 2019: $12,290,580Liabilities 2019: $734,190Net Assets 2019: $11,556,3902019Assets 2020: $14,186,661Liabilities 2020: $41,644Net Assets 2020: $14,145,0172020Assets 2021: $17,433,357Liabilities 2021: $235,033Net Assets 2021: $17,198,3242021Assets 2022: $16,297,661Liabilities 2022: $143,008Net Assets 2022: $16,154,6532022Assets 2023: $18,886,257Liabilities 2023: $234,920Net Assets 2023: $18,651,3372023Assets 2024: $22,712,380Liabilities 2024: $464,530Net Assets 2024: $22,247,8502024

Highlighted filing

2020

Assets$14,186,661
Liabilities$41,644
Net Assets$14,145,017
Open 2020 Filing

Operations Trend

Revenue Growth30th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2012: $2,658,1342012Revenue 2013: $2,707,759Expenses 2013: $1,610,503Net Income 2013: $1,097,2562013Revenue 2014: $2,148,156Expenses 2014: $2,864,478Net Income 2014: -$716,3222014Revenue 2015: $3,159,046Expenses 2015: $1,907,441Net Income 2015: $1,251,6052015Revenue 2016: $3,910,595Expenses 2016: $2,748,121Net Income 2016: $1,162,4742016Revenue 2017: $3,588,430Expenses 2017: $2,718,476Net Income 2017: $869,9542017Revenue 2018: $2,762,588Expenses 2018: $2,513,250Net Income 2018: $249,3382018Revenue 2019: $3,371,876Expenses 2019: $2,336,969Net Income 2019: $1,034,9072019Revenue 2020: $3,118,639Expenses 2020: $1,534,545Net Income 2020: $1,584,0942020Revenue 2021: $4,801,575Expenses 2021: $2,401,660Net Income 2021: $2,399,9152021Revenue 2022: $5,272,218Expenses 2022: $3,452,026Net Income 2022: $1,820,1922022Revenue 2023: $4,951,333Expenses 2023: $3,790,847Net Income 2023: $1,160,4862023Revenue 2024: $8,339,017Expenses 2024: $4,358,619Net Income 2024: $3,980,3982024

Highlighted filing

2020

Revenue$3,118,639
Expenses$1,534,545
Net Income$1,584,094
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$7,695,571
Mission and Program Overview

Mission

To foster and promote the growth of south carolina state university by receiving, investing, and expending funds for the exclusive benefit of the university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,614,393$11,356,876▲ $1,742,483
Cash and Non-Interest-Bearing Accounts$901,061$1,454,241▲ $553,180
Pledges and Grants Receivable$1,187,377$812,435▼ $374,942
Land, Buildings, and Equipment, Net$48,340$23,700▼ $24,640
Total Assets$12,290,580$14,186,661▲ $1,896,081
Other Assets Total$539,409$539,409→ $0
Liabilities
Accounts Payable and Accrued Expenses$734,190$41,644▼ $692,546
Total Liabilities$734,190$41,644▼ $692,546
Net Assets / Fund Balance
Net Assets With Donor Restrictions$12,072,333$13,420,583▲ $1,348,250
Net Assets Without Donor Restrictions$-515,943$724,434▲ $1,240,377
Total Net Assets Fund Balance$11,556,390$14,145,017▲ $2,588,627
Total Liabilities and Net Assets / Fund Balance$12,290,580$14,186,661▲ $1,896,081

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$123,200$123,200
Land$23,700--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$6,809,126$168,582▲ $1,248,203$195,404$7,907,830
2019$5,618,915$210,447▲ $1,082,402$17,872$6,809,126
2018$6,523,189$425,116▼ $583,551$721,694$5,618,915
2017$5,582,071$354,004▲ $842,183$175,638$6,523,189
2016$4,673,949$876,186▲ $166,468$40,690$5,582,071
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Stephen V BeattyChairman
Edwena L CroweVice Chair
Jason K BarberDirector
Kenneth G ClaxtonDirector
Michelle Y MoselyDirector
Stacy R StewartDirector
Edward D WilliamsEx-officio D
George K QuickEx-officio D
James E ClarkEx-officio D
John J FunnyEx-officio D
Milton IrvinEx-officio D
Ethell Vereen JrSecretary
Vernell T BrownTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,923,978
Program Service Revenue
$0
Investment Income
$663,919
Other Revenue
$530,742
All Other Contributions
$1,923,978
Change in Net Assets
$1,584,094

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,118,639
Revenue Not Reported on Form 990
$1,108,587
Total Revenue per Audited Statements
$4,227,226
Total Revenue per Form 990
$3,118,639
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$757,433
Other Expenses$543,728
Salaries, Compensation, and Employee Benefits$233,384
Total Fundraising Expense$380
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$757,433--$757,433
Other Salaries and Wages$115,090$107,884-$222,974
Fees for Services Management$54,290$95,198-$149,488
Advertising$26,700$34,890-$61,590
Fees for Service Investment Mgmnt Fees$46,314--$46,314
Travel$23,230$4,935-$28,165
Depreciation Depletion-$24,640-$24,640
Office Expenses$8,701$12,661-$21,362
All Other Expenses$8,673$11,404$380$20,457
Other Expenses$13,260$8,080-$13,260
Insurance$854$10,165-$11,019
Pension Plan Contributions-$8,200-$8,200
Fees for Services Accounting-$3,401-$3,401
Occupancy-$3,006-$3,006
Other Employee Benefits-$2,210-$2,210
Total Functional Expenses$1,205,317$328,848$380$1,534,545

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,638,599
Expenses per Audited Statements$1,534,545
Total Expenses per Form 990$1,534,545
Expenses Not Reported on Form 990$104,054
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$54,049
Fundraising Gross Income$13,905
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A copy of the form 990 reviewed by the board at the board meeting prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The foundation has a conflict of interest policy that is monitored by the membership committee. In situations where a potential conflict may exist during the year, the board member recuses himself/herself from the discussions and vote.”

Form 990, Page 6, Part VI, Line 15A

“The foundation adheres to the university's policies and guidelines which are established by the state of south carolina.”

Form 990, Page 6, Part VI, Line 19

“The foundation retains the governing documents, policies, financial statements, and the form 990 at the foundation's office. The documents are available and provided to the public upon request.”

Filing and Contact Details

Filer

Filer Name
South Carolina State University
EIN
23-7113930
Phone
8035164722
Address
PO BOX 7187, ORANGEBURG, SC 29117-0001

Signing Officer

Name
Stephen V Beatty
Title
Chairman
Phone
8035164722
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen V Beatty
Formed
1971
Legal Domicile
Sc
Voting Board Members
11
Independent Board Members
11
Employees
4
Volunteers
10

Preparer

Firm
Brodie Summers & Wilkes Cpas Llp
Address
PO BOX 584, ORANGEBURG, SC 29116-0584
Preparer
Dwight C Summers Jr
Phone
8035366866
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Interfund management fees 104,054 interfund management fees -104,054”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Interfund management fees 104,054”

Schedule D, Page 4, Part XII, Line 2D

“Interfund management fees 104,054”

Raw XML AppendixShowing 400 of 497 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
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IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt075561
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01248203
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0195404
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt033657
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt048109
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt017872
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,186,661
Liabilities
$41,644
Net assets
$14,145,017
Revenue
$3,118,639
Expenses
$1,534,545
Net income
$1,584,094
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$22.7$0.46$22.2$8.34$4.36$3.98
2023Detailed filing. Detailed filing data is available for this year.$18.9$0.23$18.7$4.95$3.79$1.16
2022Detailed filing. Detailed filing data is available for this year.$16.3$0.14$16.2$5.27$3.45$1.82
2021Detailed filing. Detailed filing data is available for this year.$17.4$0.24$17.2$4.80$2.40$2.40
2020Detailed filing. Detailed filing data is available for this year.$14.2$0.04$14.1$3.12$1.53$1.58
2019Detailed filing. Detailed filing data is available for this year.$12.3$0.73$11.6$3.37$2.34$1.03
2018Detailed filing. Detailed filing data is available for this year.$9.67$0.40$9.27$2.76$2.51$0.25
2017Detailed filing. Detailed filing data is available for this year.$9.74$0.10$9.64$3.59$2.72$0.87
2016Detailed filing. Detailed filing data is available for this year.$9.00$0.22$8.78$3.91$2.75$1.16
2015Detailed filing. Detailed filing data is available for this year.$8.13$0.32$7.81$3.16$1.91$1.25
2014Detailed filing. Detailed filing data is available for this year.$7.67$0.65$7.03$2.15$2.86$0.72
2013Detailed filing. Detailed filing data is available for this year.$7.86$0.01$7.85$2.71$1.61$1.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.79$0.02$6.77$2.66