Clemson University Research Foundation

“Certain board members are specified by their positions in clemson university. Other board members are elected by the current body of board members.the board approves significant decisions per the policies and proceudres. No board member receives a share of profits.”

“Certain board members are specified by their positions in clemson university. Other board members are elected by the current body of board members.”

“Form 990 is provided to the audit committee and sent to the board members prior to the filing deadline.”

“Board members and key employees are required to acknowledge receipt of policy annually.”

“The foundation executive director is an employee of clemson university. Compensation is determined through the university human resources department within the guidelines established by the state of south carolina to ensure reasonableness.”

“All documents are available to the public on request.”

“Former board member, james bottum, is 50% owner of a corporation that has a contractual relationship with curf for information technology development. John ballato is a 25% co-owner of south mechanic street group, llc. In the current year, john ballato was not a member of the curf board when south mechanic street group, llc purchased land and building from the clemson university research foundation. Some board members are key employees of clemson university.”

“There were no instances that required backup withholding.”

“There were no contributions received which would have required the organization to file either form 8899 or 1098-c.”

“Professional fees: program service expenses 100,222. Management and general expenses 47,960. Fundraising expenses 0. Total expenses 148,182. Contract fees: program service expenses 234,631. Management and general expenses 127,068. Fundraising expenses 0. Total expenses 361,699. Other services: program service expenses 30,090. Management and general expenses 52,782. Fundraising expenses 0. Total expenses 82,872. Patent fees: program service expenses 0. Management and general expenses 122,340. Fundraising expenses 0. Total expenses 122,340.”

“Clemson university research foundation (curf) participates in a combined rfp process for audit services for all related organizations. There is no requirement for each organization to use the same auditor but the organizations have chosen to collectively seek coordinated services from the same auditor. At least one board member representative from each organization is part of the team in selecting an auditor. The curf audit committee is responsible for oversight of the compliance and financial audit.”

“The organization did not have any excess business holdings at any time during the year and does not maintain donor advised funds.”