Civic Intelligence

Clemson University Foundation

990 • Fiscal year 2024 • EIN 57-0426335

Jul 01, 2023 to Jun 30, 2024 • Filed on May 12, 2025

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

47th percentile

0.28x

Higher debt load relative to assets than 47% of similar nonprofits.

2024 filings • 501(c)3 • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

5.26x

Higher debt load relative to revenue than 93% of similar nonprofits.

2024 filings • 501(c)3 • $1B+ nonprofits • Source year 2024

Net Margin

81st percentile

22%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $1B+ nonprofits • Source year 2024

Top Officer Pay

19th percentile

$755,931

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2024 filings • 501(c)3 • $1B+ nonprofits • Source year 2024

Asset Growth

53rd percentile

8.0%

Faster asset growth than 53% of similar nonprofits.

2024 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

0.3%

Faster revenue growth than 15% of similar nonprofits.

2024 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,412,386,703

Up $104,210,561 (+8.0%) from 2023

Net Assets

Up

$1,016,547,253

Up $90,931,210 (+9.8%) from 2023

Liabilities

Up

$395,839,450

Up $13,279,351 (+3.5%) from 2023

Revenue

Up

$75,284,806

Up $245,160 (+0.3%) from 2023

Expenses

Up

$58,851,751

Up $11,793,809 (+25%) from 2023

Net Income

Down

$16,433,055

Down $11,548,649 (-41%) from 2023

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

2024

Assets$1,412,386,703
Liabilities$395,839,450
Net Assets$1,016,547,253

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

2024

Revenue$75,284,806
Expenses$58,851,751
Net Income$16,433,055
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$196,953,307
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 clemson university foundation is organized to promote the welfare and future development of clemson university in its educational and scientific purposes; to seek and receive gifts or public funds for the benefit of clemson university through endowment giving, fund-raising, or other programs; and to manage prudently such funds and the disbursement of such with a policy that encourages the enhancement of resources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$682,554,065$716,870,173▲ $34,316,108
Investments Other Securities$353,745,571$411,535,276▲ $57,789,705
Pledges and Grants Receivable$152,605,716$159,157,102▲ $6,551,386
Savings and Temporary Cash Investments$81,031,808$84,921,675▲ $3,889,867
Investments Program Related$20,000,000$20,000,000→ $0
Land, Buildings, and Equipment, Net$9,140,730$9,112,947▼ $27,783
Receivables From Officers Etc$2,836,847$3,770,891▲ $934,044
Prepaid Expenses and Deferred Charges$678,989$483,126▼ $195,863
Total Assets$1,308,176,142$1,412,386,703▲ $104,210,561
Other Assets Total$5,582,416$6,535,513▲ $953,097
Liabilities
Other Liabilities$248,564,721$267,248,517▲ $18,683,796
Escrow Account Liability$132,415,389$127,067,484▼ $5,347,905
Accounts Payable and Accrued Expenses$1,579,989$1,523,449▼ $56,540
Total Liabilities$382,560,099$395,839,450▲ $13,279,351
Net Assets / Fund Balance
Net Assets With Donor Restrictions$859,786,043$940,875,491▲ $81,089,448
Net Assets Without Donor Restrictions$65,830,000$75,671,762▲ $9,841,762
Total Net Assets Fund Balance$925,616,043$1,016,547,253▲ $90,931,210
Total Liabilities and Net Assets / Fund Balance$1,308,176,142$1,412,386,703▲ $104,210,561

Asset Categories

AssetBook ValueDepreciationBasis
Land$8,982,949-$8,971,049
Buildings$129,998$1,655,820$1,785,818
Equipment$0$113,878$113,878
Other Securities$38,746,682--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$738,167,872$33,163,806▲ $81,900,056$17,199,547$826,870,067
2022$686,820,854$30,235,603▲ $44,419,719$16,442,950$738,167,872
2021$693,751,188$32,980,974▼ $19,951,042$13,567,893$686,820,854
2020$515,670,251$37,586,598▲ $158,445,368$12,237,624$693,751,188
2019$511,184,672$18,601,317▲ $2,702,820$10,940,515$515,670,251
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James ClementsClemson University PresidentPT$750,000$5,931$755,931
M Karen MccauleyPresident & CEOPT$286,195$117,398$403,593
April PurvisSecretary to 11/2023FT$181,540$81,710$263,250
Regina SteeleTreasurer & CFOPT$174,207$39,841$214,048
John C AlexanderCIOPT$125,000$58,484$183,484
Laura MooneySecretary From 11/2023FT$57,316$50,575$107,891

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark Educational Services LLCCatering/food ServicePO BOX 978839, Dallas, TX 75397$1,472,922
Cambridge Associates LLCInvestmentPO BOX 412015, Boston, MA 02241-2015$1,151,515
Jack Porter INCConstruction Services112 W STONE AVE STE A, Greenville, SC 29609$408,796
Aetos Alternatives Mgmt LPInvestment875 3RD AVENUE 6TH FLOOR, New York, NY 10022$341,033
Smg - Dba Greenville Convention CenterEvent Venue1 EXPOSITION DR, Greenville, SC 29607$271,204
Revenue and Support

Revenue Composition

Contributions and Grants
$47,969,799
Program Service Revenue
$4,620,479
Investment Income
$22,691,624
Other Revenue
$2,904
All Other Contributions
$47,969,799
Change in Net Assets
$16,433,055

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 Traded106$4,208,212Average Market Value
Other Non Cash Contri Table2$130,704Market Value
Total Noncash Contributions108$4,338,916-

Audited Revenue Reconciliation

Revenue per Audited Statements
$73,563,980
Revenue Not Reported on Financial Statements
$1,720,826
Revenue Not Reported on Form 990
$74,644,393
Total Revenue per Audited Statements
$148,208,373
Total Revenue per Form 990
$75,284,806
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$36,717,831
Other Expenses$17,377,429
Total Fundraising Expense$6,560,993
Salaries, Compensation, and Employee Benefits$3,654,943
Professional Fundraising Fees$1,101,548

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$36,717,831--$36,717,831
Fees for Services Other$2,128,858$1,347,186$502,897$3,978,941
Current Officers, Directors, Trustees, and Key Employees-$1,085,006$893,480$1,978,486
Fees for Service Investment Mgmnt Fees-$1,720,826-$1,720,826
Other Salaries and Wages-$1,046,234$86,008$1,132,242
Fees for Services Professional Fundraising--$1,101,548$1,101,548
Office Expenses$315,942$107,014$542,287$965,243
Advertising$369,332$7,206$537,965$914,503
Travel$333,956$81,010$438,525$853,491
Fees for Services Legal$759,667$42,245-$801,912
Information Technology$59,448$140,989$128,375$328,812
Other Employee Benefits-$277,354$13,026$290,380
Occupancy$46,186$100,411$96,765$243,362
Insurance$12,985$170,657-$183,642
Payroll Taxes-$125,122$27,576$152,698
Fees for Services Accounting-$117,169-$117,169
Other Expenses$104,421$5,610$4,376$114,407
Pension Plan Contributions-$94,790$6,347$101,137
Fees for Services Lobbying-$61,160-$61,160
Depreciation Depletion-$27,783-$27,783
Total Functional Expenses$44,289,030$8,001,728$6,560,993$58,851,751

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$58,851,751
Total Expenses per Audited Statements$57,277,163
Expenses per Audited Statements$57,130,925
Expenses Not Reported on Financial Statements$1,720,826
Expenses Not Reported on Form 990$146,238
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Clemson UniversityClemson, SC170(c)(1)To Promote the Welfare and Future Development of Clemson University Through Programmatic and Scholarship Support$33,446,392
Clemson University Continuing Education & Conference Complex CorporationClemson, SC501(c)(3)Project Expenses$2,587,705

International Summary

Offices
0
Employees
0
Spending
$211,336,566

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 Caribbean - Antigua & Barbuda, Aruba, Bahamas,Investments-00$177,107,292
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumInvestments-00$34,229,274
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$1,101,548
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$2,836,847$3,770,891▲ $934,044
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable to Clemson University$146,677,655
Accrued Liability to Clemson University Due to Net Investment Appreciation$116,395,581
Actuarial Liability of Annuities Payable$2,706,684
Due to Related Organizations$1,468,597
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 35% controlled entity
No
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 A, Line 1A

The executive committee has authority to take official action between meetings of the full board on all matters, except the adoption of modification of the organization's constitution, basic policy pronouncements regarding governance of the organization, and actions specified in south carolina code section 33-31-825(e). Composition of the executive committee includes the following voting board members: chair, vice chair, and immediate past chair of the board and chairs of the standing board committees. Additionally, several ex-officio/non-voting members of the full board are included.

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

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

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

Clemson university foundation 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

Compensation of the ceo and other officers is set by the human resources committee of the board of directors for the clemson university foundation. 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

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
M Karen Mccauley
Title
CEO and President
Phone
8646561289
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
M Karen Mccauley
Formed
1933
Legal Domicile
Sc
Voting Board Members
22
Independent Board Members
22
Employees
28
Volunteers
144

Preparer

Firm
Cherry Bekaert Advisory LLC
Address
110 EAST COURT STREET, GREENVILLE, SC 29601
Preparer
Bree-ann Weidner
Phone
8642333981
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of life insurance policies -16,231. Change in value of split interest agreements 1,211,428. Net transfers to affiliated entities -146,238.

Financial Statement Notes

PART II, LINE 3:

During the year, one conservation easement between cuf and the wallace f. Pate foundation for environmental research and education was modified via an amendment. The purpose of the amendment was to include a 1.6 acre boat storage area located within the easement area that was left out of the initial easement. This boat storage area has been in use continuously well before the easement was established. The amendment also allowed the current boat storage area to increase by an additional 1 acre.

PART II, LINE 9:

Included in land, buildings, and equipment at june 30, 2024 and 2023 is land donated to the foundation which had an appraised value of $8,971,049 in the year it was acquired. Conservation easements have been assigned to property located in georgetown county, south carolina which requires the land to remain in its undeveloped state but allows for the construction, operation, and management of a research and educational facility. The carrying value is comprised of land of $917,418 and conservation easements of $8,053,631. Depreciation expense for the years ended june 30, 2024 and 2023 was $27,783.

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 12-quarter rolling average balance of the endowment funds. The purpose, as specified by the donor, is the basis for utilization of the funds, with there being three broad categories of support - student scholarships, fellowships, awards, and other financial aid; faculty support; and academic college and departmental support. The percentage reported for permanent endowments includes amounts that must be maintained in perpetuity as well as accumulated earnings on such amounts that have not yet been appropriated for expenditure.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of life insurance policies -16,231. Change in value of split interest agreements 1,211,428.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Transfers to related entities 146,238.

Raw XML AppendixShowing 400 of 1,182 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/Desc0PROGRAM SUPPORT: FUNDING PROVIDED TO SUPPORT THE EDUCATIONAL, RESEARCH, AND PUBLIC SERVICE MISSION OF CLEMSON UNIVERSITY, INCLUDING SUPPORT FOR SCHOLARSHIPS, FELLOWSHIPS, FACULTY SUPPORT, AND ACADEMIC PROGRAM SUPPORT. THE SOURCES FOR FUNDING PROGRAM SUPPORT INCLUDE DONOR RESTRICTED GIVING FOR THESE PURPOSES AND SPENDABLE RETURN SUPPORT FROM ENDOWMENT FUNDS DESIGNATED FOR THESE PURPOSES.
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IRS990/Form990PartVIISectionAGrp/PersonNm25LAURA MOONEY
IRS990/Form990PartVIISectionAGrp/PersonNm26JAMES CLEMENTS
IRS990/Form990PartVIISectionAGrp/PersonNm27JOHN C ALEXANDER
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt23TREASURER & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt24SECRETARY TO 11/2023
IRS990/Form990PartVIISectionAGrp/TitleTxt25SECRETARY FROM 11/2023
IRS990/Form990PartVIISectionAGrp/TitleTxt26CLEMSON UNIVERSITY PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt27CIO
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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