Civic Intelligence

Iptay

990 • Fiscal year 2018 • EIN 46-5666637

Jul 01, 2017 to Jun 30, 2018 • Filed on May 09, 2019

Organization ProfileWWW.IPTAYCUAD.COM
PO Box 1529Clemson, SC 29633

(864) 656-2115

Siviq Scores

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

Liabilities / Assets

11th percentile

0.02x

Higher debt load relative to assets than 11% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

7th percentile

0.02x

Higher debt load relative to revenue than 7% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

72nd percentile

15%

Higher net margin than 72% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

86th percentile

$941,525

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

81st percentile

13%

Faster asset growth than 81% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

51st percentile

5.2%

Faster revenue growth than 51% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$93,124,982

Up $11,020,912 (+13%) from 2017

Net Assets

Up

$91,669,365

Up $11,197,550 (+14%) from 2017

Liabilities

Down

$1,455,617

Down $176,638 (-11%) from 2017

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin72nd percentile

Revenue

Up

$59,965,726

Up $2,957,142 (+5.2%) from 2017

Expenses

Down

$50,731,363

Down $25,971,397 (-34%) from 2017

Net Income

Up

$9,234,363

Up $28,928,539 (+147%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$200M$150M$100M$50M$0Assets 2015: $62,842,271Liabilities 2015: $53,407Net Assets 2015: $62,788,8642015Assets 2016: $99,220,512Liabilities 2016: $1,247,791Net Assets 2016: $97,972,7212016Assets 2017: $82,104,070Liabilities 2017: $1,632,255Net Assets 2017: $80,471,8152017Assets 2018: $93,124,982Liabilities 2018: $1,455,617Net Assets 2018: $91,669,3652018Assets 2019: $99,709,837Liabilities 2019: $2,716,816Net Assets 2019: $96,993,0212019Assets 2020: $104,768,916Liabilities 2020: $6,199,137Net Assets 2020: $98,569,7792020Assets 2021: $126,811,025Liabilities 2021: $9,237,976Net Assets 2021: $117,573,0492021Assets 2022: $124,989,602Liabilities 2022: $9,989,781Net Assets 2022: $114,999,8212022Assets 2023: $157,007,308Liabilities 2023: $9,771,496Net Assets 2023: $147,235,8122023

Highlighted filing

2018

Assets$93,124,982
Liabilities$1,455,617
Net Assets$91,669,365
Open 2018 Filing

Operations Trend

Revenue Growth51st percentile

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

$150M$100M$50M$0-$50MRevenue 2015: $59,403,477Expenses 2015: $636,876Net Income 2015: $58,766,6012015Revenue 2016: $55,704,966Expenses 2016: $19,910,571Net Income 2016: $35,794,3952016Revenue 2017: $57,008,584Expenses 2017: $76,702,760Net Income 2017: -$19,694,1762017Revenue 2018: $59,965,726Expenses 2018: $50,731,363Net Income 2018: $9,234,3632018Revenue 2019: $60,817,842Expenses 2019: $58,689,575Net Income 2019: $2,128,2672019Revenue 2020: $57,131,409Expenses 2020: $56,465,108Net Income 2020: $666,3012020Revenue 2021: $66,960,073Expenses 2021: $64,762,533Net Income 2021: $2,197,5402021Revenue 2022: $72,209,791Expenses 2022: $64,981,107Net Income 2022: $7,228,6842022Revenue 2023: $122,711,591Expenses 2023: $94,992,220Net Income 2023: $27,719,3712023

Highlighted filing

2018

Revenue$59,965,726
Expenses$50,731,363
Net Income$9,234,363
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 9, 2019
Return Version
2017v2.3
Gross Receipts
$86,113,076
Mission and Program Overview

Mission

Support of clemson university athletic programs

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$16,770,633$46,674,459▲ $29,903,826
Pledges and Grants Receivable$26,219,617$19,997,047▼ $6,222,570
Cash and Non-Interest-Bearing Accounts$29,444,903$10,669,310▼ $18,775,593
Investments Other Securities$4,700,768$8,055,892▲ $3,355,124
Savings and Temporary Cash Investments$4,308,378$6,553,583▲ $2,245,205
Accounts Receivable$564,818$937,602▲ $372,784
Total Assets$82,104,070$93,124,982▲ $11,020,912
Other Assets Total$94,953$237,089▲ $142,136
Liabilities
Other Liabilities$1,526,767$1,403,241▼ $123,526
Accounts Payable and Accrued Expenses$105,488$52,376▼ $53,112
Total Liabilities$1,632,255$1,455,617▼ $176,638
Net Assets / Fund Balance
Unrestricted Net Assets$52,884,442$65,689,871▲ $12,805,429
Temporarily Rstr Net Assets$27,182,450$24,482,316▼ $2,700,134
Permanently Rstr Net Assets$404,923$1,497,178▲ $1,092,255
Total Net Assets Fund Balance$80,471,815$91,669,365▲ $11,197,550
Total Liabilities and Net Assets / Fund Balance$82,104,070$93,124,982▲ $11,020,912

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$650,312--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$46,528,251$9,862,553▲ $2,398,936$5,358,854$53,430,886
2016$46,829,849$11,853,466▲ $2,550,558$14,705,622$46,528,251
2015$39,053,060$18,523,467▼ $175,617$10,571,061$46,829,849
2014-$38,878,869▲ $174,191-$39,053,060
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleOtherTotal
Sandy EdgeDirector$126,200$126,200
Martha Jane HodgeDirector$125,100$125,100

Board Members and Trustees

NameTitle
James ClementsDirector, President Clemson Univ.
Eddie M RobinsonPresident
John M GriffinPresident Elect
Daniel Radakovich JrAthletic Director Clemson Univ.
Andrew SmartDirector
Ben GriffithDirector
Bob PeelerDirector
Brianna WoodsbyDirector
Charles E DaltonDirector
Fred FairclothDirector
James E Bostic JrDirector
Jean DesdunesDirector
Joe ToddDirector
John N Mccarter JrDirector
John RutlandDirector
Mary Ann BiggerDirector
William C Milam IiiDirector
Davis C BabbCEO
Graham R NeffCFO
Bob RigginsSecretary
Jan MccraryTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Clemson University FoundationInvestment ManagmentPO BOX 1889, Clemson, SC 29633-1889$345,734
Revenue and Support

Revenue Composition

Contributions and Grants
$58,793,041
Program Service Revenue
$0
Investment Income
$1,172,685
Other Revenue
$0
All Other Contributions
$58,673,044
Change in Net Assets
$9,234,363

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded145$6,168,302Fair Market Value (FMV)
Total Noncash Contributions145$6,168,302-

Audited Revenue Reconciliation

Revenue per Audited Statements
$59,411,556
Revenue Not Reported on Financial Statements
$554,170
Revenue Not Reported on Form 990
$1,963,187
Total Revenue per Audited Statements
$61,374,743
Total Revenue per Form 990
$59,965,726
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$49,514,689
Other Expenses$1,216,674
Total Fundraising Expense$626,559
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$49,514,689--$49,514,689
Other Expenses--$626,559$626,559
Fees for Service Investment Mgmnt Fees-$554,170-$554,170
Travel-$15,959-$15,959
Fees for Services Other-$10,477-$10,477
Office Expenses-$9,509-$9,509
Total Functional Expenses$49,514,689$590,115$626,559$50,731,363

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$50,731,363
Expenses per Audited Statements$50,177,193
Total Expenses per Audited Statements$50,177,193
Expenses Not Reported on Financial Statements$554,170
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Clemson UniversityClemson, SC170(c)(1)Operating Expenses of Intercollegiate Athletics$49,514,689
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Clemson University$1,403,241
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 6

“Any person who has matriculated at, been employed by, or is a friend of clemson university may become a "member" of iptay in any fiscal year upon contributing to iptay an amount equal to the membership contribution. Each donor shall be considered a member of iptay for each year in which such donor has made the membership contribution. All members shall have the right to vote at the annual meeting of the iptay membership, to serve in corporate office and directorship of iptay, and to exercise such other privileges as established by the board from time to time.”

Form 990, Part VI, Section A, Line 7A

“Under the terms of the bylaws, two members of the board of trustees of clemson university shall serve pursuant to appointment by the chairman of the board of trustees of the university.”

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

“The finance committee reviews the 990 in detail and a copy is provided to the full board prior to filing.”

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

“Board members and key employees are required to acknowledge receipt of the conflict of interest policy annually. Any director or officer shall declare himself/herself as "abstaining" from voting on any matter in which said director or officer may be considered to have a conflict of interest.”

Form 990, Part VI, Section B, Line 15

“Clemson university employee compensation supporting iptay operations is determined through the university human resources department within the guidelines established by the state of south carolina.”

Form 990, Part VI, Section C, Line 19

“Iptay's bylaws, articles of incorporation, and conflict of interest policy are available on its website. Information regarding the financial statements can be found in clemson university's cafr. Form 990 is available upon request to davis babb.”

Filing and Contact Details

Filer

Filer Name
Iptay
EIN
46-5666637
Phone
8646562115
Address
PO BOX 1529, CLEMSON, SC 29633

Signing Officer

Name
Davis Babb
Title
CEO
Phone
8646562115
Signed
2019-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Davis Babb
Formed
2014
Legal Domicile
Sc
Voting Board Members
20
Independent Board Members
17
Employees
0
Volunteers
27

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 XII, LINE 2C:

“Related organizations of clemson university participate in a combined request for audit and tax services on a recurring basis. At least one member from each entity participates in the selection process. Iptay chose to utilize the audit and tax services of the firm performing these services for the other related entities currently under contract.”

Financial Statement Notes

PART V, LINE 4:

“The quasi-endowment funds are intended to support capital project needs of clemson university athletic programs through construction cost disbursements and/or debt service payments. Permanent endowments and temporarily restricted endowment funds are intended to support clemson university athletic program operations.”

PART X, LINE 2:

“Iptay is recognized as an organization exempt from federal income tax on related income under section 501(a) of 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. Iptay's policy is to record a liability for any tax position taken that is beneficial to iptay, 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, 2018; accordingly, no liability has been accrued.”

Raw XML AppendixShowing 400 of 744 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/Form990PartVIISectionAGrp/PersonNm5JAMES E BOSTIC JR
IRS990/Form990PartVIISectionAGrp/PersonNm6JAMES CLEMENTS
IRS990/Form990PartVIISectionAGrp/PersonNm7CHARLES E DALTON
IRS990/Form990PartVIISectionAGrp/PersonNm8JEAN DESDUNES
IRS990/Form990PartVIISectionAGrp/PersonNm9SANDY EDGE
IRS990/Form990PartVIISectionAGrp/PersonNm10FRED FAIRCLOTH
IRS990/Form990PartVIISectionAGrp/PersonNm11BEN GRIFFITH
IRS990/Form990PartVIISectionAGrp/PersonNm12MARTHA JANE HODGE
IRS990/Form990PartVIISectionAGrp/PersonNm13JOHN N MCCARTER JR
IRS990/Form990PartVIISectionAGrp/PersonNm14WILLIAM C MILAM III
IRS990/Form990PartVIISectionAGrp/PersonNm15BOB PEELER
IRS990/Form990PartVIISectionAGrp/PersonNm16JOHN RUTLAND
IRS990/Form990PartVIISectionAGrp/PersonNm17ANDREW SMART
IRS990/Form990PartVIISectionAGrp/PersonNm18JOE TODD
IRS990/Form990PartVIISectionAGrp/PersonNm19BRIANNA WOODSBY
IRS990/Form990PartVIISectionAGrp/PersonNm20DAVIS C BABB
IRS990/Form990PartVIISectionAGrp/PersonNm21GRAHAM R NEFF
IRS990/Form990PartVIISectionAGrp/PersonNm22DANIEL RADAKOVICH JR
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR, PRESIDENT CLEMSON UNIV.
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt21CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt22ATHLETIC DIRECTOR CLEMSON UNIV.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0IPTAY SUPPORTS CLEMSON UNIVERSITY (A GOVERNMENTAL ENTITY) BY: 1. PROVIDING FUNDS FOR SCHOLARSHIPS FOR CLEMSON UNIVERSITY STUDENT ATHLETES AND OTHER STUDENTS THAT SUPPORT AND PROVIDE RELATED SERVICES TO THE ATHLETIC PROGRAM OF CLEMSON UNIVERSITY. 2. OVERSEEING, MONITORING, AND DIRECTING THE FUNDRAISING ACTIVITIES OF IPTAY FOR THE BENEFIT OF THE CLEMSON UNIVERSITY ATHLETIC DEPARTMENT. 3. PROMOTING, SUPPORTING, AND AIDING ANY AND ALL OTHER ACTIVITIES AND PROGRAMS THAT FURTHER THE ATHLETIC MISSION OF CLEMSON UNIVERSITY AND THE CHARITABLE PURPOSE OF IPTAY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE ORGANIZATION HAS AN AFFILIATION AGREEMENT WITH CLEMSON UNIVERSITY. THE TERMS OF THIS AGREEMENT MEMORIALIZE IPTAY'S ROLE IN SUPPORTING THE UNIVERSITY AND SET FORTH GUIDELINES FOR BOTH PARTIES WITH REGARDS TO THE SUPPORT IPTAY WILL PROVIDE TO THE UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION E, LINE 1C:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION D, LINE 3:
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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$93,124,982
Liabilities
$1,455,617
Net assets
$91,669,365
Revenue
$59,965,726
Expenses
$50,731,363
Net income
$9,234,363
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$157$9.77$147$123$95.0$27.7
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$125$9.99$115$72.2$65.0$7.23
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$127$9.24$118$67.0$64.8$2.20
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$6.20$98.6$57.1$56.5$0.67
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$99.7$2.72$97.0$60.8$58.7$2.13
2018Detailed filing. Detailed filing data is available for this year.$93.1$1.46$91.7$60.0$50.7$9.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$82.1$1.63$80.5$57.0$76.7$19.7
2016Detailed filing. Detailed filing data is available for this year.$99.2$1.25$98.0$55.7$19.9$35.8
2015Detailed filing. Detailed filing data is available for this year.$62.8$0.05$62.8$59.4$0.64$58.8
Peer Organizations

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