Civic Intelligence

Clemson University Foundation

990 • Fiscal year 2017 • EIN 57-0426335

Jul 01, 2016 to Jun 30, 2017 • Filed on May 11, 2018

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

49th percentile

0.32x

Higher debt load relative to assets than 49% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

94th percentile

5.35x

Higher debt load relative to revenue than 94% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Net Margin

80th percentile

17%

Higher net margin than 80% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

51st percentile

$878,556

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

5th percentile

-21%

Faster revenue growth than 5% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Assets

Up

$825,035,700

Up $81,256,506 (+11%) from 2016

Net Assets

Up

$564,320,088

Up $53,836,997 (+11%) from 2016

Liabilities

Up

$260,715,612

Up $27,419,509 (+12%) from 2016

Revenue

Down

$48,750,155

Down $13,253,883 (-21%) from 2016

Expenses

Down

$40,467,069

Down $16,600,188 (-29%) from 2016

Net Income

Up

$8,283,086

Up $3,346,305 (+68%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $416,414,513Liabilities 2010: $112,744,288Net Assets 2010: $303,670,2252010Assets 2011: $518,622,697Liabilities 2011: $147,052,412Net Assets 2011: $371,570,2852011Assets 2012: $532,064,140Liabilities 2012: $144,895,663Net Assets 2012: $387,168,4772012Assets 2013: $587,817,884Liabilities 2013: $160,338,657Net Assets 2013: $427,479,2272013Assets 2014: $686,741,384Liabilities 2014: $184,458,143Net Assets 2014: $502,283,2412014Assets 2015: $747,372,726Liabilities 2015: $228,767,511Net Assets 2015: $518,605,2152015Assets 2016: $743,779,194Liabilities 2016: $233,296,103Net Assets 2016: $510,483,0912016Assets 2017: $825,035,700Liabilities 2017: $260,715,612Net Assets 2017: $564,320,0882017Assets 2018: $879,046,109Liabilities 2018: $282,103,570Net Assets 2018: $596,942,5392018Assets 2019: $923,248,232Liabilities 2019: $291,918,411Net Assets 2019: $631,329,8212019Assets 2020: $944,348,237Liabilities 2020: $294,396,391Net Assets 2020: $649,951,8462020Assets 2021: $1,240,950,463Liabilities 2021: $356,024,128Net Assets 2021: $884,926,3352021Assets 2022: $1,218,679,731Liabilities 2022: $349,787,471Net Assets 2022: $868,892,2602022Assets 2023: $1,308,176,142Liabilities 2023: $382,560,099Net Assets 2023: $925,616,0432023Assets 2024: $1,412,386,703Liabilities 2024: $395,839,450Net Assets 2024: $1,016,547,2532024

Highlighted filing

2017

Assets$825,035,700
Liabilities$260,715,612
Net Assets$564,320,088

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $26,662,0712010Expenses 2011: $24,774,4522011Revenue 2012: $49,224,749Expenses 2012: $27,516,941Net Income 2012: $21,707,8082012Expenses 2013: $37,567,3162013Revenue 2014: $64,049,296Expenses 2014: $38,946,067Net Income 2014: $25,103,2292014Revenue 2015: $57,881,612Expenses 2015: $43,330,905Net Income 2015: $14,550,7072015Revenue 2016: $62,004,038Expenses 2016: $57,067,257Net Income 2016: $4,936,7812016Revenue 2017: $48,750,155Expenses 2017: $40,467,069Net Income 2017: $8,283,0862017Revenue 2018: $54,416,297Expenses 2018: $54,897,910Net Income 2018: -$481,6132018Revenue 2019: $57,417,359Expenses 2019: $43,276,191Net Income 2019: $14,141,1682019Revenue 2020: $65,187,016Expenses 2020: $40,908,186Net Income 2020: $24,278,8302020Revenue 2021: $112,486,660Expenses 2021: $34,717,393Net Income 2021: $77,769,2672021Revenue 2022: $80,225,172Expenses 2022: $41,167,949Net Income 2022: $39,057,2232022Revenue 2023: $75,039,646Expenses 2023: $47,057,942Net Income 2023: $27,981,7042023Revenue 2024: $75,284,806Expenses 2024: $58,851,751Net Income 2024: $16,433,0552024

Highlighted filing

2017

Revenue$48,750,155
Expenses$40,467,069
Net Income$8,283,086
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 11, 2018
Return Version
2016v3.0
Gross Receipts
$150,437,384
Mission and Program Overview

Mission

The foundation is organized to promote the welfare and future development of clemson university in its educational and scientific research purposes and to seek and receive gifts for the benefit of clemson university through endowment giving and other fundraising activities, and to manage such funds prudently and within established policy.

The foundation is organized to promote the welfare and future development of Clemson University.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$486,739,690$552,044,534▲ $65,304,844
Investments Other Securities$132,386,438$147,570,730▲ $15,184,292
Savings and Temporary Cash Investments$58,720,353$60,342,269▲ $1,621,916
Pledges and Grants Receivable$52,508,899$51,533,232▼ $975,667
Land, Buildings, and Equipment, Net$9,398,739$9,359,485▼ $39,254
Total Assets$743,779,194$825,035,700▲ $81,256,506
Other Assets Total$4,025,075$4,185,450▲ $160,375
Liabilities
Other Liabilities$183,161,455$204,035,595▲ $20,874,140
Escrow Account Liability$49,354,298$55,974,519▲ $6,620,221
Accounts Payable and Accrued Expenses$780,350$705,498▼ $74,852
Total Liabilities$233,296,103$260,715,612▲ $27,419,509
Net Assets / Fund Balance
Permanently Rstr Net Assets$294,908,141$304,787,735▲ $9,879,594
Temporarily Rstr Net Assets$188,675,484$228,988,403▲ $40,312,919
Unrestricted Net Assets$26,899,466$30,543,950▲ $3,644,484
Total Net Assets Fund Balance$510,483,091$564,320,088▲ $53,836,997
Total Liabilities and Net Assets / Fund Balance$743,779,194$825,035,700▲ $81,256,506

Asset Categories

AssetBook ValueDepreciationBasis
Land$8,982,949-$8,971,049
Buildings$376,536$1,456,922$1,833,458
Equipment$0$113,878$113,878
Other Securities$9,933,646--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$416,356,433$11,785,373▲ $39,714,101$11,017,258$454,313,336
2015$406,874,549$22,117,538▼ $8,443,211-$416,356,433
2014$391,902,933$17,696,485▲ $9,791,770$9,794,071$406,874,549
2013$326,453,829$18,218,106▲ $51,683,871$6,609,091$387,045,101
2012$294,007,873$8,984,586▲ $32,121,897$6,172,863$326,453,829
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James ClementsClemson University President-$493,627$384,929$493,627
Colonel Sandy EdgeDirector--$121,597$121,597
Deborah NewsomCFO and TreasurerFT-$97,287$97,287
John Alexander JrCIOPT$75,417$195,056$75,417
Beth MooreSecretary--$59,933$59,933

Highest Paid Contractors

ContractorServicesLocationCompensation
Cambridge Associates LLCInvestment AdvisingPO Box 83232, Chicago, IL 60691$695,382
Daniel J Edelman IncMarketing/ Communications21992 Network Place, Chicago, IL 60673$190,677
College Connections incAlumni Outreach6129 Long Meadow Road, Mclean, VA 22101$189,937
TJ Dixon & James NelsonSculpture Design/ Fabrication388 Orpheus Avenue, Encinitas, CA 92024$150,000
SW PromotionsMarketing/ Communications728 N Pleasantburg Drive, Greenville, SC 29607$149,653
Revenue and Support

Revenue Composition

Contributions and Grants
$29,965,778
Program Service Revenue
$4,569,756
Investment Income
$14,191,098
Other Revenue
$23,523
All Other Contributions
$27,129,136
Change in Net Assets
$8,283,086

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded108$696,109Average market value
Securities Closely Held Stock1$115,000market value
Total Noncash Contributions109$811,109-

Audited Revenue Reconciliation

Revenue per Audited Statements
$44,031,546
Revenue Not Reported on Financial Statements
$4,718,609
Revenue Not Reported on Form 990
$45,553,911
Other Revenue Adjustments
$-32,329
Total Revenue per Audited Statements
$89,585,457
Total Revenue per Form 990
$48,750,155
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$21,617,641
Other Expenses$17,332,545
Total Fundraising Expense$4,127,981
Salaries, Compensation, and Employee Benefits$1,238,978
Professional Fundraising Fees$277,905

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$21,617,641--$21,617,641
Office Expenses$3,078,396$1,334,005$981,254$5,393,655
Fees for Service Investment Mgmnt Fees-$4,750,938-$4,750,938
Current Officers, Directors, Trustees, and Key Employees-$680,765$538,800$1,219,565
Travel$248,035$80,558$502,616$831,209
Other Expenses$326,314$84,403$612,215$696,618
Advertising$208,997$37,753$85,945$332,695
Fees for Services Professional Fundraising--$277,905$277,905
All Other Expenses$76,242$34,620$124,242$235,104
Insurance$54,414$39,662$11,866$105,942
Fees for Services Legal$49,405$11,149-$60,554
Depreciation Depletion$39,254--$39,254
Payroll Taxes-$4,369$15,044$19,413
Total Functional Expenses$28,543,401$7,795,687$4,127,981$40,467,069

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$40,467,069
Total Expenses per Audited Statements$35,748,460
Expenses per Audited Statements$35,716,131
Expenses Not Reported on Financial Statements$4,750,938
Expenses Not Reported on Form 990$32,329
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Clemson UniversityClemson, SC170(c)(1)to promote the welfare and future development of Clemson University$21,448,373

International Summary

Offices
0
Employees
0
Spending
$90,925,216

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbeaninvestments-00$84,853,347
Europe (Including Iceland & Greenland)INVESTMENTs-00$6,071,869
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$277,905
Fundraising Direct Expenses$32,329
Fundraising Gross Income$29,536

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
student affairs gala$39,411$29,536$10,283$19,253
Total Events$39,411$29,536$32,329$-2,793
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable to Clemson University$102,919,316
Accrued liability to Clemson University due to net investment appreciation$95,983,370
Actuarial liability of annuities payable$4,713,212
Due to related organizations$419,697
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
Yes
Other officer compensation reviewed
Yes
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 B, line 11B

A copy of the 990 is provided to all board members prior to filing, with the Audit Committee charged with reviewing the 990 in detail.

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

CUF board and key employees receive a copy of the code of conduct with the conflict of interest policy annually for review and signature. Any director or officer who has an interest in a contract, a non-passive investment or other transaction presented to the Board of Directors or a committee thereof for authorization, approval or ratification shall make a prompt and full disclosure of his or her interest to the Board of Directors or such committee prior to any action on such contract or transaction by the Board of Directors or such committee. If a conflict is deemed to exist, such person shall not vote on, nor use his or her personal influence on, nor participate in (other than to present factual information or to respond to questions) the discussions or deliberations with respect to such contract or transactions.

Form 990, Part VI, Section B, line 15

CUF has two employees whose salary is determined by the human resource committee and approved by the full board. All other individuals conducting CUF business are employees of Clemson University. Compensation of the officers is determined through the university human resource department within the guidelines established by the state of South Carolina. The CUF board reviews and approves the compensation set by Clemson University annually.

Form 990, Part VI, Section C, line 19

Documents are available on the organization's website and upon request. Exempt organization status was filed in 1933 and filing documents are not available.

Filing and Contact Details

Filer

Filer Name
Clemson University Foundation
EIN
57-0426335
Phone
8646561289
Address
PO Box 1889, Clemson, SC 29633-1889

Signing Officer

Name
Harrison F Trammell
Title
President and CEO
Phone
8646561289
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Harrison F Trammell
Formed
1933
Legal Domicile
Sc
Voting Board Members
39
Independent Board Members
38
Employees
2
Volunteers
144

Preparer

Firm
Cherry Bekaert LLP
Address
110 East Court Street, Greenville, SC 29601
Preparer
Amanda Adams
Phone
8642333981
Supplemental Narrative

Additional Explanations

Form 990, PART V, LINE 1C:

There were no instances that required backup withholding.

Form 990, PART V, LINES 7G and 7H:

There were no contributions received which would have required the organization to file either Form 8899 or 1098-C.

Form 990, Part XI, line 9:

Change in value of Life insurance policies 77,299. Change in value of split interest agreements 831,782.

form 990, part XII, line 2C

ALL RELATED ORGANIZATIONS OF CLEMSON UNIVERSITY PARTICIPATE IN A COMBINED REQUEST FOR PROPOSALS PROCESS EVERY FIVE YEARS. AT LEAST ONE MEMBER FROM EACH BOARD PARTICIPATES IN THE SELECTION PROCESS. THERE IS NO REQUIREMENT FOR ALL ENTITIES TO SELECT THE SAME AUDIT FIRM, BUT THAT HAS BEEN THE PRACTICE FOR THE PAST sixteen YEARS. CUF HAS AN AUDIT COMMITtEE WHICH MEETS at least three TIMES A YEAR AND INTERACTS DIRECTLY WITH THE AUDIT FIRM.

Financial Statement Notes

Part IV, Line 2B:

the foundation holds and invests funds belonging to affiliated organizations.

Part V, Line 4:

The Foundation's endowment consists of individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designated by the Board of Directors of the Foundation to function as endowments. Payouts are based on a specified percentage of the three year rolling average balance of the endowment funds, the purpose specified by the donor; 65% fund scholarships, fellowships and awards for students, the balance funds professorships and provides support for department and college programs.

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 made a tax payment of $430,280 on estimated unrelated business income for the fiscal year ended June 30, 2016, which is included in endowment expenses on the statements of activities for the year ended June 30, 2016. Of this amount, $311,162 is available to apply toward the Foundation's 2017 unrelated business income tax liability. 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, 2017 and, accordingly, no liability has been accrued.

Part XI, Line 2D - Other Adjustments:

Change in value of life insurance policies 77,299. change in Value of Split Interest agreements 831,782.

Part XI, Line 4B - Other Adjustments:

Special event expenses reported net of revenue in Part VIII -32,329.

Part XII, Line 2D - Other Adjustments:

Special event expenses reported net of revenue in Part VIII 32,329.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Ernest Norville
IRS990/Form990PartVIISectionAGrp/PersonNm1Robert Hambright
IRS990/Form990PartVIISectionAGrp/PersonNm2Susie Cannon Adams
IRS990/Form990PartVIISectionAGrp/PersonNm3Ray Anderson
IRS990/Form990PartVIISectionAGrp/PersonNm4Bryant Barnes
IRS990/Form990PartVIISectionAGrp/PersonNm5James Barnes
IRS990/Form990PartVIISectionAGrp/PersonNm6Edith Bostic
IRS990/Form990PartVIISectionAGrp/PersonNm7Janine Bowen
IRS990/Form990PartVIISectionAGrp/PersonNm8Celeste Boykin
IRS990/Form990PartVIISectionAGrp/PersonNm9William Bradley
IRS990/Form990PartVIISectionAGrp/PersonNm10Jonathan Centurino
IRS990/Form990PartVIISectionAGrp/PersonNm11Michael Crapps
IRS990/Form990PartVIISectionAGrp/PersonNm12James Creel Jr
IRS990/Form990PartVIISectionAGrp/PersonNm13Michael Dowling
IRS990/Form990PartVIISectionAGrp/PersonNm14Edgar Duckworth
IRS990/Form990PartVIISectionAGrp/PersonNm15Colonel Sandy Edge
IRS990/Form990PartVIISectionAGrp/PersonNm16R Charles Eldridge Jr
IRS990/Form990PartVIISectionAGrp/PersonNm17Scott Garvin
IRS990/Form990PartVIISectionAGrp/PersonNm18Gerald Glenn
IRS990/Form990PartVIISectionAGrp/PersonNm19Harry Hall IV
IRS990/Form990PartVIISectionAGrp/PersonNm20Jerry Handegan
IRS990/Form990PartVIISectionAGrp/PersonNm21Bryant Harrell
IRS990/Form990PartVIISectionAGrp/PersonNm22Cheryl Holland
IRS990/Form990PartVIISectionAGrp/PersonNm23Stephen Hutchinson
IRS990/Form990PartVIISectionAGrp/PersonNm24J Allen Martin
IRS990/Form990PartVIISectionAGrp/PersonNm25Anthony Mathis
IRS990/Form990PartVIISectionAGrp/PersonNm26D Byrd Miller III
IRS990/Form990PartVIISectionAGrp/PersonNm27Suzanne Morse
IRS990/Form990PartVIISectionAGrp/PersonNm28Mary Joy Pizzella
IRS990/Form990PartVIISectionAGrp/PersonNm29Norman Pulliam
IRS990/Form990PartVIISectionAGrp/PersonNm30James Self III
IRS990/Form990PartVIISectionAGrp/PersonNm31Thomas Sloan
IRS990/Form990PartVIISectionAGrp/PersonNm32Kenneth Smith
IRS990/Form990PartVIISectionAGrp/PersonNm33Daniel Stanzione
IRS990/Form990PartVIISectionAGrp/PersonNm34Charles Sullivan Jr
IRS990/Form990PartVIISectionAGrp/PersonNm35Joseph Todd
IRS990/Form990PartVIISectionAGrp/PersonNm36Michael Watt
IRS990/Form990PartVIISectionAGrp/PersonNm37Jonathan Weitz
IRS990/Form990PartVIISectionAGrp/PersonNm38Amy Yoder
IRS990/Form990PartVIISectionAGrp/PersonNm39Harrison Trammell
IRS990/Form990PartVIISectionAGrp/PersonNm40Deborah Newsom
IRS990/Form990PartVIISectionAGrp/PersonNm41Beth Moore
IRS990/Form990PartVIISectionAGrp/PersonNm42John Alexander Jr
IRS990/Form990PartVIISectionAGrp/PersonNm43James Clements
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,412$396$1,017$75.3$58.9$16.4
2023Detailed filing. Detailed filing data is available for this year.$1,308$383$926$75.0$47.1$28.0
2022Detailed filing. Detailed filing data is available for this year.$1,219$350$869$80.2$41.2$39.1
2021Detailed filing. Detailed filing data is available for this year.$1,241$356$885$112$34.7$77.8
2020Detailed filing. Detailed filing data is available for this year.$944$294$650$65.2$40.9$24.3
2019Detailed filing. Detailed filing data is available for this year.$923$292$631$57.4$43.3$14.1
2018Detailed filing. Detailed filing data is available for this year.$879$282$597$54.4$54.9$0.48
2017Detailed filing. Detailed filing data is available for this year.$825$261$564$48.8$40.5$8.28
2016Detailed filing. Detailed filing data is available for this year.$744$233$510$62.0$57.1$4.94
2015Detailed filing. Detailed filing data is available for this year.$747$229$519$57.9$43.3$14.6
2014Detailed filing. Detailed filing data is available for this year.$687$184$502$64.0$38.9$25.1
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$588$160$427$37.6
2012Summary only. Only limited summary data is available for this year.$532$145$387$49.2$27.5$21.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$519$147$372$24.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$416$113$304$26.7