Civic Intelligence

University of South Carolina Upstate Capital Development

990 • Fiscal year 2016 • EIN 30-0696406

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 24, 2017

Organization ProfileN/A
800 University WaySpartanburg, SC 29303

(864) 503-7417

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.73x

Higher debt load relative to assets than 83% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2016

Net Margin

100th percentile

122%

Higher net margin than 100% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

58th percentile

$198,539

Higher top officer pay than 58% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

1st percentile

-99%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$311,341

Down $27,026,134 (-99%) from 2015

Net Assets

Down

$84,234

Down $6,620,723 (-99%) from 2015

Liabilities

Down

$227,107

Down $20,405,411 (-99%) from 2015

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$4,732,101

Down $5,679,703 (-599%) from 2015

Expenses

Down

$1,039,529

Down $411,027 (-28%) from 2015

Net Income

Down

-$5,771,630

Down $5,268,676 (-1048%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$30M$20M$10M$0Assets 2014: $29,312,013Liabilities 2014: $21,616,685Net Assets 2014: $7,695,3282014Assets 2015: $27,337,475Liabilities 2015: $20,632,518Net Assets 2015: $6,704,9572015Assets 2016: $311,341Liabilities 2016: $227,107Net Assets 2016: $84,2342016Assets 2017: $239,660Liabilities 2017: $164,757Net Assets 2017: $74,9032017Assets 2018: $168,205Liabilities 2018: $99,695Net Assets 2018: $68,5102018Assets 2019: $466,077Liabilities 2019: $402,702Net Assets 2019: $63,3752019Assets 2020: $384,324Liabilities 2020: $352,346Net Assets 2020: $31,9782020Assets 2021: $41,563Liabilities 2021: $0Net Assets 2021: $41,5632021Assets 2022: $40,318Liabilities 2022: $0Net Assets 2022: $40,3182022Assets 2023: $39,369Liabilities 2023: $0Net Assets 2023: $39,3692023Assets 2024: $39,791Liabilities 2024: $0Net Assets 2024: $39,7912024

Highlighted filing

2016

Assets$311,341
Liabilities$227,107
Net Assets$84,234
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$0-$2.0M-$4.0M-$6.0MRevenue 2014: $773,036Expenses 2014: $1,631,336Net Income 2014: -$858,3002014Revenue 2015: $947,602Expenses 2015: $1,450,556Net Income 2015: -$502,9542015Revenue 2016: -$4,732,101Expenses 2016: $1,039,529Net Income 2016: -$5,771,6302016Revenue 2017: $9,382Expenses 2017: $18,713Net Income 2017: -$9,3312017Revenue 2018: $6,505Expenses 2018: $12,898Net Income 2018: -$6,3932018Revenue 2019: $3,513Expenses 2019: $8,648Net Income 2019: -$5,1352019Revenue 2020: $617Expenses 2020: $32,014Net Income 2020: -$31,3972020Revenue 2021: $13,000Expenses 2021: $3,415Net Income 2021: $9,5852021Revenue 2022: $0Expenses 2022: $1,245Net Income 2022: -$1,2452022Revenue 2023: $311Expenses 2023: $1,260Net Income 2023: -$9492023Revenue 2024: $1,222Expenses 2024: $800Net Income 2024: $4222024

Highlighted filing

2016

Revenue-$4,732,101
Expenses$1,039,529
Net Income-$5,771,630
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 24, 2017
Return Version
2015v3.0
Gross Receipts
$14,747,719
Mission and Program Overview

Mission

The purpose of the corporation is to own, manage, lease, sell, convey and or transfer real estate and other capital developments to be used for the benefit of the university of south carolina upstate and university of south carolina upstate foundation and to engage in any lawful act or activity for which the corporation is organized pursuannt to the act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,613,399--
Investments in Publicly Traded Securities$3,408,465--
Investments Other Securities$3,000,000--
Savings and Temporary Cash Investments$421,498--
Other Notes and Loans Receivable, Net$550,964$259,480▼ $291,484
Pledges and Grants Receivable$107,667--
Cash and Non-Interest-Bearing Accounts$157,624$51,861▼ $105,763
Other Assets Total$3,077,858--
Total Assets$27,337,475$311,341▼ $27,026,134
Liabilities
Tax Exempt Bond Liabilities$14,655,000--
Other Liabilities$5,420,142--
Mortgage Notes Payable Secured by Investment Property$557,376$227,107▼ $330,269
Total Liabilities$20,632,518$227,107▼ $20,405,411
Net Assets / Fund Balance
Unrestricted Net Assets$6,704,957$84,234▼ $6,620,723
Total Net Assets Fund Balance$6,704,957$84,234▼ $6,620,723
Total Liabilities and Net Assets / Fund Balance$27,337,475$311,341▼ $27,026,134
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleOtherTotal
Roger SullivanExecutive Di$198,539$198,539

Board Members and Trustees

NameTitle
Jason LynchDirector
John BauknightDirector
John MontgomeryDirector
Nancy RiehleDirector
Tim CampDirector
Will GramlingDirector/pre
Roger SullivanExecutive Director
Donald HaleInterim Exe
Revenue and Support

Revenue Composition

Contributions and Grants
$50,190
Program Service Revenue
$494,715
Investment Income
$-5,277,006
Other Revenue
$0
All Other Contributions
$50,190
Change in Net Assets
$-5,771,630

Audited Revenue Reconciliation

Revenue per Audited Statements
$-4,732,101
Revenue Not Reported on Form 990
$-363,842
Total Revenue per Audited Statements
$-5,095,943
Total Revenue per Form 990
$-4,732,101
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,039,529
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$560,192--$560,192
Depreciation Depletion$460,719--$460,719
Fees for Service Investment Mgmnt Fees$7,055--$7,055
Fees for Services Accounting-$7,000-$7,000
Other Expenses$2,198--$2,198
Total Functional Expenses$1,032,529$7,000$0$1,039,529

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,039,529
Total Expenses per Audited Statements$1,039,529
Total Expenses per Form 990$1,039,529
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The form 990 is reviewed by management and each member of the board is provided a copy for for their review prior to filing.”

Form 990, Page 6, Part VI, Line 19

“The form 990 and governing documents are available upon request at the foundation's office during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Usc Upstate Capital Development
EIN
30-0696406
Phone
8645037417
Address
800 UNIVERSITY WAY, SPARTANBURG, SC 29303

Signing Officer

Name
Donald Hale
Title
Interim Exe Director
Phone
8645035335
Signed
2017-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Hale
Formed
2011
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Cline Brandt Kochenower & Co Pa
Address
145 ROGERS COMMERCE BLVD, BOILING SPRINGS, SC 29316
Preparer
Timothy S Blake CPA
Phone
8645410218
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The purpose of the corporation is to own, manage, lease, sell, convey and or transfer real estate and other capital developments to be used for the benefit of the university of south carolina upstate and university of south carolina upstate foundation and to engage in any lawful act or activity for which the corporation is organized pursuannt to the act.”

Form 990, Part XI, Line 9

“Interest rate swap fmv adjustment -485,251 total -485,251”

Raw XML AppendixShowing 400 of 415 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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IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02016-03-29
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0576026593
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt05477188
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501C3
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IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt01027 BARNWELL STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0COLUMBIA
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PART II 1(D) CPF II, LLC MEMBERSHIP INTEREST WAS SOLD FOR THE AMOUNT SUFFICIENT TO REDEEM THE OUTSTANDING BOND.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE OF THE CORPORATION IS TO OWN, MANAGE, LEASE, SELL, CONVEY AND OR TRANSFER REAL ESTATE AND OTHER CAPITAL DEVELOPMENTS TO BE USED FOR THE BENEFIT OF THE UNIVERSITY OF SOUTH CAROLINA UPSTATE AND UNIVERSITY OF SOUTH CAROLINA UPSTATE FOUNDATION AND TO ENGAGE IN ANY LAWFUL ACT OR ACTIVITY FOR WHICH THE CORPORATION IS ORGANIZED PURSUANNT TO THE ACT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY MANAGEMENT AND EACH MEMBER OF THE BOARD IS PROVIDED A COPY FOR FOR THEIR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE FOUNDATION'S OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INTEREST RATE SWAP FMV ADJUSTMENT -485,251 TOTAL -485,251
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0ED. FAC MA
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0SPARTANBURG
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0UPSTATE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0576001153
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SPARTANBURG
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0494715
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV RENT
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt050190
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01032529
IRS990/TotalFunctionalExpensesGrp/TotalAmt01039529
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-4732101
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0311341
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt06704957
IRS990/UnrestrictedNetAssetsGrp/EOYAmt084234
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0SPARTANBURG
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029303
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD HALE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INTERIM EXE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08645035335
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0USC UPSTATE CAPITAL DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0USCU
ReturnHeader/Filer/EIN0300696406
ReturnHeader/Filer/PhoneNum08645037417
ReturnHeader/Filer/USAddress/AddressLine1Txt0800 UNIVERSITY WAY
ReturnHeader/Filer/USAddress/CityNm0SPARTANBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$311,341
Liabilities
$227,107
Net assets
$84,234
Revenue
-$4,732,101
Expenses
$1,039,529
Net income
-$5,771,630
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.01$0.00$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.38$0.35$0.03$0.00$0.03$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.47$0.40$0.06$0.00$0.01$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.17$0.10$0.07$0.01$0.01$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.24$0.16$0.07$0.01$0.02$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.31$0.23$0.08$4.73$1.04$5.77
2015Detailed filing. Detailed filing data is available for this year.$27.3$20.6$6.70$0.95$1.45$0.50
2014Detailed filing. Detailed filing data is available for this year.$29.3$21.6$7.70$0.77$1.63$0.86
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $10M-$25M nonprofits