Civic Intelligence

Winthrop University Foundation

990 • Fiscal year 2017 • EIN 23-7378001

Jan 01, 2017 to Dec 31, 2017 • Filed on May 15, 2018

302 Tillman HallRock Hill, SC 29733

(803) 323-2229

Siviq Scores

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

Liabilities / Assets

16th percentile

0.03x

Higher debt load relative to assets than 16% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

50th percentile

0.41x

Higher debt load relative to revenue than 50% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

80th percentile

23%

Higher net margin than 80% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

57th percentile

$386,128

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

79th percentile

15%

Faster asset growth than 79% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

4th percentile

-43%

Faster revenue growth than 4% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Up

$58,721,451

Up $7,707,824 (+15%) from 2016

Net Assets

Up

$56,818,297

Up $7,890,240 (+16%) from 2016

Liabilities

Down

$1,903,154

Down $182,416 (-8.7%) from 2016

Revenue

Down

$4,667,272

Down $3,454,571 (-43%) from 2016

Expenses

Down

$3,602,706

Down $339,944 (-8.6%) from 2016

Net Income

Down

$1,064,566

Down $3,114,627 (-75%) from 2016

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $31,172,355Liabilities 2010: $72,809Net Assets 2010: $31,099,5462010Assets 2011: $38,483,076Liabilities 2011: $3,595,739Net Assets 2011: $34,887,3372011Assets 2013: $46,801,745Liabilities 2013: $3,165,731Net Assets 2013: $43,636,0142013Assets 2014: $48,971,654Liabilities 2014: $3,027,147Net Assets 2014: $45,944,5072014Assets 2016: $51,013,627Liabilities 2016: $2,085,570Net Assets 2016: $48,928,0572016Assets 2017: $58,721,451Liabilities 2017: $1,903,154Net Assets 2017: $56,818,2972017Assets 2018: $56,063,439Liabilities 2018: $1,518,057Net Assets 2018: $54,545,3822018Assets 2019: $68,775,010Liabilities 2019: $1,977,136Net Assets 2019: $66,797,8742019Assets 2020: $79,370,276Liabilities 2020: $1,973,698Net Assets 2020: $77,396,5782020Assets 2021: $89,194,270Liabilities 2021: $1,824,772Net Assets 2021: $87,369,4982021Assets 2022: $73,833,927Liabilities 2022: $1,342,392Net Assets 2022: $72,491,5352022

Highlighted filing

2017

Assets$58,721,451
Liabilities$1,903,154
Net Assets$56,818,297

Operations Trend

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

$10M$5.0M$0Expenses 2010: $3,315,3452010Expenses 2011: $4,133,8512011Revenue 2013: $7,719,528Expenses 2013: $3,902,213Net Income 2013: $3,817,3152013Revenue 2014: $6,165,275Expenses 2014: $4,490,759Net Income 2014: $1,674,5162014Revenue 2016: $8,121,843Expenses 2016: $3,942,650Net Income 2016: $4,179,1932016Revenue 2017: $4,667,272Expenses 2017: $3,602,706Net Income 2017: $1,064,5662017Revenue 2018: $6,597,667Expenses 2018: $3,378,853Net Income 2018: $3,218,8142018Revenue 2019: $8,237,307Expenses 2019: $3,902,348Net Income 2019: $4,334,9592019Revenue 2020: $6,052,572Expenses 2020: $2,986,130Net Income 2020: $3,066,4422020Revenue 2021: $7,336,925Expenses 2021: $3,700,127Net Income 2021: $3,636,7982021Revenue 2022: $6,254,328Expenses 2022: $4,646,438Net Income 2022: $1,607,8902022

Highlighted filing

2017

Revenue$4,667,272
Expenses$3,602,706
Net Income$1,064,566
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 15, 2018
Return Version
2017v2.2
Gross Receipts
$4,667,272
Mission and Program Overview

Mission

To support and enhance winthrop university by encouraging alumni and friends to provide private funds and other resources for the university's benefit, to manage those assets, and to provide volunteer leadership in support of the university's objectives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$46,804,327$54,075,074▲ $7,270,747
Cash and Non-Interest-Bearing Accounts$445,538$853,583▲ $408,045
Pledges and Grants Receivable$1,065,708$823,326▼ $242,382
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$51,013,627$58,721,451▲ $7,707,824
Other Assets Total$2,698,054$2,969,468▲ $271,414
Liabilities
Other Liabilities$2,035,410$1,818,413▼ $216,997
Accounts Payable and Accrued Expenses$50,160$84,741▲ $34,581
Total Liabilities$2,085,570$1,903,154▼ $182,416
Net Assets / Fund Balance
Permanently Rstr Net Assets$46,565,774$55,336,696▲ $8,770,922
Temporarily Rstr Net Assets$2,254,107$1,548,653▼ $705,454
Unrestricted Net Assets$108,176$-67,052▼ $175,228
Total Net Assets Fund Balance$48,928,057$56,818,297▲ $7,890,240
Total Liabilities and Net Assets / Fund Balance$51,013,627$58,721,451▲ $7,707,824

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$164,528$164,528
Other Assets Org$74,023--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$45,443,452$1,002,760▲ $7,470,761-$53,916,973
2016$40,830,373$2,811,481▲ $3,181,760$1,380,162$45,443,452
2015$39,328,516$2,848,097▼ $1,346,240-$40,830,373
2014$37,532,182$2,129,372-$333,038$39,328,516
2013$30,859,993$3,533,098▲ $3,139,091-$37,532,182
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel MahonyUniv. PresidentPT$160,000$15,280$175,280
Robin EmbryExecutive DirectorFT$106,772$16,237$123,009

Board Members and Trustees

NameTitle
Karl FolkensChair WU Board
Andrew ShenePresident
Lee GardnerPresident WUREF
Cecelia StewartVice President
Ansel HuckabeeDirector
Chelsea BrownDirector
David PennellDirector
Derick CloseDirector
Gary WilliamsDirector
Gerald SchapiroDirector
James HayesDirector
James WhiteDirector
Janice IveyDirector
Matthew DoschDirector
Mel Grayson-CaprioDirector
Mike WhiteheadDirector
Nancy DonnellyDirector
R Sylvester OwensDirector
Robert BreakfieldDirector
Sigmon HuittDirector
Susan RexDirector
Vivian CarrollDirector
Lori TuttleEx Director Alumni
Keith WilliamsExec Director WUREF
Janet SmalleyComm. Univ Adv.
Byron PutmanEx-officio
Dr David McDonaldEx-officio
Linda WarnerEx-officio
Ann TerrySecretary
Joseph CarterTreasurer
Evan BohnenVP Univ. Adv.
Revenue and Support

Revenue Composition

Contributions and Grants
$2,982,326
Program Service Revenue
$0
Investment Income
$1,297,218
Other Revenue
$387,728
All Other Contributions
$2,982,326
Change in Net Assets
$1,064,566

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,634,880
Revenue Not Reported on Financial Statements
$32,392
Revenue Not Reported on Form 990
$6,825,674
Total Revenue per Audited Statements
$11,460,554
Total Revenue per Form 990
$4,667,272
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,442,274
Salaries, Compensation, and Employee Benefits$869,210
Total Fundraising Expense$372,546
Other Expenses$291,222
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,442,274--$2,442,274
Other Salaries and Wages-$371,559$215,599$587,158
Current Officers, Directors, Trustees, and Key Employees$175,280$106,772-$282,052
Fees for Service Investment Mgmnt Fees-$32,392-$32,392
All Other Expenses-$13,836$8,957$22,793
Other Expenses-$33,583$18,363$18,363
Fees for Services Accounting-$15,015-$15,015
Travel-$4,292$7,188$11,480
Occupancy-$11,269-$11,269
Office Expenses-$10,858-$10,858
Insurance-$10,626-$10,626
Fees for Services Other-$1,351-$1,351
Fees for Services Legal-$1,053-$1,053
Total Functional Expenses$2,617,554$612,606$372,546$3,602,706

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,602,706
Expenses per Audited Statements$3,570,314
Total Expenses per Audited Statements$3,570,314
Expenses Not Reported on Financial Statements$32,392
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Winthrop UniversityRock Hill, SCGovScholarships$2,370,852
Alumni Assoc of Win UnivRock Hill, SC501(c)3Operating Expenses$71,422
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Acturial Liab of Annuities Payable$1,802,987
Payroll Liabilities$15,426
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
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, Part VI, Line 11B: Form 990 Review Process

The form 990 is completed following receipt of the independent auditor's report and audited financial statements. Reviewed by the audit committee and operations committee with the auditor and delivered electronically to all winthrop university foundation board members prior to filing with the irs.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The foundation's conflict of interest policy is distributed annually at the first board meeting of the year and as part of the new board member orientation. Each board director completes a questionnaire to establish their independence and determine if a conflict exists. This document is reviewed by the executive director of the foundation and kept on file. Members of the board of directors are mandated to disclose potential conflicts of interest and recuse themselves from any action. Such action is documented in the official board minutes.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Staff salaries and benefits comprising total compensation are reviewed annually as part of the regular budgeting forecast by the operations committee and the board of directors. The executive director is responsible for the annual evaluation of staff including self-appraisal as well as performance review by the immediate supervisor. Comparable position salary ranges for all positions from similar sized nonprofit organizations are reviewed annually to establish reasonableness. Sources for comparable data are from professional organizations serving higher education foundatoins including council for advancement and support education (case), association of governing board (agb) and guidestar.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

See answer to form 990, part vi, line 15a above

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The winthrop university foundation's governing documents are available on the organization's website at www.wufoundation.com. Additionally, the irs form 990 is also available upon request at the foundation office.

Filing and Contact Details

Filer

Filer Name
Winthrop University Foundation
EIN
23-7378001
Phone
8033232229
Address
302 Tillman Hall, Rock Hill, SC 29733

Signing Officer

Name
Brenda Floyd
Title
Sr Director Financia
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
1973
Legal Domicile
Sc
Voting Board Members
24
Independent Board Members
24
Employees
11
Volunteers
24

Preparer

Firm
C DeWitt Foard & Co PA CPAs
Address
817 E Morehead Street Ste 100, Charlotte, NC 28202-2767
Preparer
Terry W Lancaster
Phone
7043721515
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

Change in cash surrender value = $782

Other Changes In Net Assets Or Fund Balances - Other Increases

Change in value of split-interest trusts = $114741

Other Changes In Net Assets Or Fund Balances - Other Increases

Provision for doubtful accounts = $61571

Other Changes In Net Assets Or Fund Balances - Other Decreases

Provision for pledge discounts = -$1699

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Change in value in split interest trusts $114741 change in cash surrender value $782 provision for doubtful accounts $61571 provision for pledge discounts $-1699

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