Civic Intelligence

Clemson University Land Stewardship Foundation Inc

990 • Fiscal year 2019 • EIN 27-4127041

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 25, 2020

PO Box 1889Clemson, SC 29633-1889

(864) 656-1289

Siviq Scores

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

Liabilities / Assets

77th percentile

0.61x

Higher debt load relative to assets than 77% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

9.23x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

86th percentile

33%

Higher net margin than 86% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

39th percentile

$290,035

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

33rd percentile

1.0%

Faster asset growth than 33% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

73rd percentile

12%

Faster revenue growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Assets

Up

$74,333,259

Up $711,310 (+1.0%) from 2018

Net Assets

Up

$29,101,312

Up $1,615,486 (+5.9%) from 2018

Liabilities

Down

$45,231,947

Down $904,176 (-2.0%) from 2018

Revenue

Up

$4,898,269

Up $530,749 (+12%) from 2018

Expenses

Up

$3,282,783

Up $23,420 (+0.7%) from 2018

Net Income

Up

$1,615,486

Up $507,329 (+46%) from 2018

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2013: $56,628,469Liabilities 2013: $36,998,128Net Assets 2013: $19,630,3412013Assets 2014: $57,638,311Liabilities 2014: $37,353,782Net Assets 2014: $20,284,5292014Assets 2015: $64,704,903Liabilities 2015: $41,684,784Net Assets 2015: $23,020,1192015Assets 2016: $70,571,888Liabilities 2016: $45,632,133Net Assets 2016: $24,939,7552016Assets 2017: $74,181,431Liabilities 2017: $47,035,001Net Assets 2017: $27,146,4302017Assets 2018: $73,621,949Liabilities 2018: $46,136,123Net Assets 2018: $27,485,8262018Assets 2019: $74,333,259Liabilities 2019: $45,231,947Net Assets 2019: $29,101,3122019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2019

Assets$74,333,259
Liabilities$45,231,947
Net Assets$29,101,312

Operations Trend

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

$6.0M$4.0M$2.0M$0Expenses 2013: $886,1372013Revenue 2014: $2,760,415Expenses 2014: $2,106,227Net Income 2014: $654,1882014Revenue 2015: $4,016,363Expenses 2015: $2,125,247Net Income 2015: $1,891,1162015Revenue 2016: $4,636,196Expenses 2016: $2,647,336Net Income 2016: $1,988,8602016Revenue 2017: $4,912,036Expenses 2017: $2,705,361Net Income 2017: $2,206,6752017Revenue 2018: $4,367,520Expenses 2018: $3,259,363Net Income 2018: $1,108,1572018Revenue 2019: $4,898,269Expenses 2019: $3,282,783Net Income 2019: $1,615,4862019Revenue 2020: $3,314,262Expenses 2020: $2,467,957Net Income 2020: $846,3052020

Highlighted filing

2019

Revenue$4,898,269
Expenses$3,282,783
Net Income$1,615,486
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 25, 2020
Return Version
2018v3.1
Gross Receipts
$4,898,269
Mission and Program Overview

Mission

The foundation exists to receive, hold, develop, manage, or sell real estate for Clemson University.

The clemson university land stewardship foundation supports clemson university through development activities associated with real property and economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$56,847,282$58,627,410▲ $1,780,128
Savings and Temporary Cash Investments$1,710,096$1,925,618▲ $215,522
Cash and Non-Interest-Bearing Accounts$2,308,175$1,615,857▼ $692,318
Accounts Receivable$49,460$85,023▲ $35,563
Prepaid Expenses and Deferred Charges$53,177--
Total Assets$73,621,949$74,333,259▲ $711,310
Other Assets Total$12,653,759$12,079,351▼ $574,408
Liabilities
Mortgage Notes Payable Secured by Investment Property$22,071,054$21,723,980▼ $347,074
Other Liabilities$20,998,307$20,994,625▼ $3,682
Deferred Revenue$2,936,623$2,186,041▼ $750,582
Accounts Payable and Accrued Expenses$130,139$327,301▲ $197,162
Total Liabilities$46,136,123$45,231,947▼ $904,176
Net Assets / Fund Balance
Unrestricted Net Assets$27,485,826$29,101,312▲ $1,615,486
Total Net Assets Fund Balance$27,485,826$29,101,312▲ $1,615,486
Total Liabilities and Net Assets / Fund Balance$73,621,949$74,333,259▲ $711,310

Asset Categories

AssetBook ValueDepreciationBasis
Land$10,170,067-$8,570,067
Buildings$28,569,639$1,070,460$4,229,902
Leasehold Improvements$135,635$259,144$394,779
Other Land Buildings$19,752,069$92,606$195,598
Equipment$0$19,514$19,514
Other Assets Org$1,335,452--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Beth MooreSecretary$67,659$67,659

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Greenville One LLCCommon Area WorkPO BOX 2567, Greenville, SC 29602$215,057
Gca Services Group Education DivisionCustodian ServicesPO BOX 534198, Atlanta, GA 30353-4198$150,614
Waldrop INCHvac Repair/ MaintenancePO BOX 369, Reidville, SC 29375$112,391
Revenue and Support

Revenue Composition

Contributions and Grants
$284,433
Program Service Revenue
$4,583,279
Investment Income
$30,557
Other Revenue
$0
Change in Net Assets
$1,615,486

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,763,836
Revenue Not Reported on Financial Statements
$134,433
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$134,433
Total Revenue per Audited Statements
$4,763,836
Total Revenue per Form 990
$4,898,269
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,055,675
Grants and Similar Amounts Paid$227,108
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,121,532$49,263-$1,170,795
Interest$906,154--$906,154
Other Expenses$200,345$173,172-$373,517
Fees for Services Other$288,755$52,750-$341,505
Grants to Domestic Orgs$227,108--$227,108
Depreciation Depletion$9,810$147,959-$157,769
Insurance$46,107$23,387-$69,494
Fees for Services Legal$19,015--$19,015
Fees for Services Accounting-$12,417-$12,417
Office Expenses$3,116$1,893-$5,009
Total Functional Expenses$2,821,942$460,841$0$3,282,783

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,282,783
Expenses per Audited Statements$3,148,350
Total Expenses per Audited Statements$3,148,350
Expenses Not Reported on Financial Statements$134,433
Other Expense Adjustments$134,433
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Clemson University FoundationClemson, SC501(c)(3)To Support the Clemson University Foundation Mission of Supporting the Educational Mission of Clemson University$227,108
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Clemson University Fdtn.$20,932,472
Unearned Revenue$33,658
Deposits Held for Others$28,495
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
No
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, Part VI, Section A, Line 7A

The board of trustees of clemson university shall appoint three appointed directors, one of which shall be the current sitting trustee chair of the clemson university land and capital asset stewardship committee, should such a committee be in place; and the clemson university foundation shall appoint two appointed directors.

Form 990, Part VI, Section B, Line 11B

Form 990 is sent to all board members for review and comment prior to filing. It is discussed and reviewed in depth by the finance committee.

Form 990, Part VI, Section B, Line 12C

Board members and officers are required to annually complete and sign a conflict of interest statement disclosing any interests which may be considered as a conflict relative to business dealings or board actions. These annual statements are reviewed and any conflicts acknowledged. In the event of a conflict, the individual involved will abstain from board actions where conflicts are deemed to be present. Review of any potentially conflicted business dealings is performed to ensure appropriateness and 'arm's length' negotiations and pricing.

Form 990, Part VI, Section B, Line 15

The clemson university land stewardship foundation has no employees. Compensation of the ceo and other officers is set by the human resources committee of the board of directors for the clemson university foundation, an affiliated organization, and ratified by the clemson university land stewardship foundation board. The process includes an annual compensation review with analysis of data for comparable positions at similar institutions, as well as consideration of the standardized classification and compensation process for this position as determined by clemson university's office of human resources under the guidelines established by the state of south carolina. The process is documented and action memorialized as a part of the permanent minutes of both the human resources committee and the full board.

Form 990, Part VI, Section C, Line 19

The foundation's website is (https://www.clemson.edu/giving/cufoundations/structure/culsf/). This website displays links to governing documents, financial statements, irs form 990 and the conflict of interest policy.

Filing and Contact Details

Filer

Filer Name
Clemson University Land Stewardship
EIN
27-4127041
Phone
8646561289
Address
PO BOX 1889, CLEMSON, SC 29633-1889

Signing Officer

Name
Harrison F Trammell
Title
President & CEO
Phone
8646561289
Signed
2020-03-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Harrison F Trammell
Formed
2010
Legal Domicile
Sc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Cherry Bekaert Llp
Address
110 EAST COURT STREET SUITE 500, GREENVILLE, SC 29601
Preparer
Amanda Adams
Phone
8642333981
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Safety/security services: program service expenses 78,914. Management and general expenses 0. Fundraising expenses 0. Total expenses 78,914. Architecture/design services: program service expenses 83,708. Management and general expenses 0. Fundraising expenses 0. Total expenses 83,708. Property management services: program service expenses 126,133. Management and general expenses 0. Fundraising expenses 0. Total expenses 126,133. Commissions: program service expenses 0. Management and general expenses 17,600. Fundraising expenses 0. Total expenses 17,600. Engineering/survey services: program service expenses 0. Management and general expenses 35,150. Fundraising expenses 0. Total expenses 35,150.

Financial Statement Notes

PART X, LINE 2:

The foundation is recognized as an organization exempt from federal income tax on related income under section 501(a) of the internal revenue code (the "code") and described as an organization in section 501(c)(3) of the code. Accordingly, only unrelated business income, as defined by section 513 of the code, is subject to federal income tax. The foundation's policy is to record a liability for any tax position taken that is beneficial to the foundation, including any related interest and penalties, when it is more likely than not the position taken by management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes that there are no such positions as of june 30, 2019 and, accordingly, no liability has been accrued.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Contribution netted against related party grant 134,433.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Contribution netted against related party grant 134,433.

Raw XML AppendixShowing 400 of 702 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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