Civic Intelligence

Clemson University Research Foundation

990 • Fiscal year 2016 • EIN 57-0750000

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

PO Box 946Clemson, SC 29633-0946

(864) 656-0925

Siviq Scores

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

Liabilities / Assets

30th percentile

0.07x

Higher debt load relative to assets than 30% of similar nonprofits.

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

Liabilities / Revenue

37th percentile

0.15x

Higher debt load relative to revenue than 37% of similar nonprofits.

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

Net Margin

73rd percentile

12%

Higher net margin than 73% of similar nonprofits.

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

Top Officer Pay

86th percentile

$392,824

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

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

Asset Growth

6th percentile

-14%

Faster asset growth than 6% of similar nonprofits.

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

Revenue Growth

19th percentile

-14%

Faster revenue growth than 19% of similar nonprofits.

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

Assets

Down

$11,637,878

Down $1,924,109 (-14%) from 2015

Net Assets

Up

$10,791,613

Up $677,045 (+6.7%) from 2015

Liabilities

Down

$846,265

Down $2,601,154 (-75%) from 2015

Revenue

Down

$5,827,721

Down $923,832 (-14%) from 2015

Expenses

Down

$5,150,676

Down $1,794,583 (-26%) from 2015

Net Income

Up

$677,045

Up $870,751 (+450%) from 2015

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $15,737,682Liabilities 2010: $7,117,041Net Assets 2010: $8,620,6412010Assets 2011: $16,781,543Liabilities 2011: $7,177,393Net Assets 2011: $9,604,1502011Assets 2012: $16,547,515Liabilities 2012: $6,270,199Net Assets 2012: $10,277,3162012Assets 2013: $16,565,779Liabilities 2013: $6,219,035Net Assets 2013: $10,346,7442013Assets 2014: $15,053,840Liabilities 2014: $4,745,567Net Assets 2014: $10,308,2732014Assets 2015: $13,561,987Liabilities 2015: $3,447,419Net Assets 2015: $10,114,5682015Assets 2016: $11,637,878Liabilities 2016: $846,265Net Assets 2016: $10,791,6132016Assets 2017: $11,189,307Liabilities 2017: $386,489Net Assets 2017: $10,802,8182017Assets 2018: $11,273,030Liabilities 2018: $380,521Net Assets 2018: $10,892,5092018Assets 2019: $9,775,410Liabilities 2019: $142,345Net Assets 2019: $9,633,0652019Assets 2020: $9,623,559Liabilities 2020: $126,562Net Assets 2020: $9,496,9972020Assets 2021: $9,369,735Liabilities 2021: $58,856Net Assets 2021: $9,310,8792021Assets 2022: $10,060,542Liabilities 2022: $575,942Net Assets 2022: $9,484,6002022Assets 2023: $9,556,754Liabilities 2023: $575,930Net Assets 2023: $8,980,8242023Assets 2024: $9,188,257Liabilities 2024: $407,488Net Assets 2024: $8,780,7692024Assets 2025: $9,387,702Liabilities 2025: $263,768Net Assets 2025: $9,123,9342025

Highlighted filing

2016

Assets$11,637,878
Liabilities$846,265
Net Assets$10,791,613

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $10,459,3492010Expenses 2011: $12,485,6632011Expenses 2012: $12,975,2772012Expenses 2013: $12,069,4482013Revenue 2014: $8,900,285Expenses 2014: $8,938,756Net Income 2014: -$38,4712014Revenue 2015: $6,751,553Expenses 2015: $6,945,259Net Income 2015: -$193,7062015Revenue 2016: $5,827,721Expenses 2016: $5,150,676Net Income 2016: $677,0452016Revenue 2017: $2,706,582Expenses 2017: $2,695,377Net Income 2017: $11,2052017Revenue 2018: $1,923,604Expenses 2018: $1,833,913Net Income 2018: $89,6912018Revenue 2019: $1,919,918Expenses 2019: $3,179,362Net Income 2019: -$1,259,4442019Revenue 2020: $1,554,328Expenses 2020: $1,694,406Net Income 2020: -$140,0782020Revenue 2021: $1,882,601Expenses 2021: $2,068,719Net Income 2021: -$186,1182021Revenue 2022: $2,360,637Expenses 2022: $2,195,767Net Income 2022: $164,8702022Revenue 2023: $1,940,204Expenses 2023: $2,473,262Net Income 2023: -$533,0582023Revenue 2024: $2,005,641Expenses 2024: $2,308,972Net Income 2024: -$303,3312024Revenue 2025: $2,467,253Expenses 2025: $2,228,373Net Income 2025: $238,8802025

Highlighted filing

2016

Revenue$5,827,721
Expenses$5,150,676
Net Income$677,045
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 1, 2017
Return Version
2015v3.0
Gross Receipts
$7,562,909
Mission and Program Overview

Mission

To generate research funding opportunities for clemson university to support research initiatives that advance university discoveries to create new products and services for public use and benefit.

To support research, technology transfer, and related activities at and for the benefit of Clemson university. The mission is to advance the generation and commercialization of intellectual property at Clemson University through support of research, technology transfer, and licensing administration.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$8,456,340$8,505,259▲ $48,919
Intangible Assets$1,187,002$1,050,832▼ $136,170
Land, Buildings, and Equipment, Net$2,619,815$759,530▼ $1,860,285
Accounts Receivable$927,695$754,923▼ $172,772
Other Notes and Loans Receivable, Net-$476,688-
Pledges and Grants Receivable$218,208$44,484▼ $173,724
Investments in Publicly Traded Securities-$26,496-
Prepaid Expenses and Deferred Charges$152,927$19,666▼ $133,261
Total Assets$13,561,987$11,637,878▼ $1,924,109
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,559,245--
Accounts Payable and Accrued Expenses$801,513$793,124▼ $8,389
Deferred Revenue$84,987$53,141▼ $31,846
Escrow Account Liability$1,674--
Total Liabilities$3,447,419$846,265▼ $2,601,154
Net Assets / Fund Balance
Unrestricted Net Assets$6,269,929$6,902,779▲ $632,850
Temporarily Rstr Net Assets$3,844,639$3,888,834▲ $44,195
Total Net Assets Fund Balance$10,114,568$10,791,613▲ $677,045
Total Liabilities and Net Assets / Fund Balance$13,561,987$11,637,878▼ $1,924,109

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$198,798$1,880,266$2,079,064
Land$560,732-$560,732
Compensation and Service Providers

Board Members and Trustees

NameTitle
george ackerDirector - chair
ANAnD GRAMOPADHYEDirector
Andrew B Cajkadirector
Brett A Daltondirector
Carol MarinoDirector
Christie CorbettDirector
Cindy LeeDirector
George AskewDirector
Martine LabergeDirector
Stan AhaltDirector
TANJU KARANFIL - vice chairDirector
Tracy WarrenDirector
larry dooleydirector
michael l wattdirector
catherine portoExecutive Director - non-voting
vincie albrittonformer officer
charles tegentreasurer (NON VOTING)
Revenue and Support

Revenue Composition

Contributions and Grants
$2,518,700
Program Service Revenue
$607,832
Investment Income
$784,702
Other Revenue
$1,916,487
All Other Contributions
$430,000
Change in Net Assets
$677,045

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,827,721
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,827,721
Total Revenue per Form 990
$5,827,721
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,356,453
Grants and Similar Amounts Paid$1,794,223
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,794,223--$1,794,223
Occupancy-$516,171-$516,171
Fees for Services Other$71,661$253,401-$325,062
Fees for Services Legal-$285,803-$285,803
Depreciation Depletion$178,680$82,587-$261,267
Information Technology$189,200--$189,200
Royalties-$150,440-$150,440
Fees for Services Management$109,798$25,146-$134,944
Interest-$57,927-$57,927
Office Expenses$551$29,846-$30,397
Insurance$8,746$20,418-$29,164
Other Expenses$746$10,147-$10,893
Travel-$6,166-$6,166
Total Functional Expenses$3,316,194$1,834,482$0$5,150,676

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,150,676
Total Expenses per Audited Statements$5,150,676
Total Expenses per Form 990$5,150,676
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Clemson Universityclemson, SCirc 115sponsored and non-sponsored research operations$1,794,223
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-former directorMr. James Bottum, the Chief Information Officer of Clemson University, became an owner in Omnibond Systems, LLC in or around 2006. Mr. Bottum served on the CURF Board of Directors from June 2007 until July 2012. Omnibond Systems, LLC is a start-up company formed in 1999 by individuals working at Clemson University, who created certain software owned by Clemson and assigned to CURF. Pursuant to a License Agreement executed on May 31, 1999, Omnibond Systems, LLC licensed the software from CURF to commercialize in the public market and remit royalties back to CURF. Mr. Bottum was not an owner in Omnibond Systems, LLC when the License Agreement was put in place in 1999. On March 1, 2016, Omnibond Systems, LLC purchased the intellectual property ownership underlying and rights of CURF licensed under the License Agreement, and the License Agreement was terminated. Payments towards the purchase price shall be periodically made until paid in full on or before December 31, 2019.No$565,000
-former directorMR. JAMES BOTTUM, THE CHIEF INFORMATION OFFICER OF CLEMSON UNIVERSITY, BECAME AN OWNER IN OMNIBOND SYSTEMS, LLC IN OR AROUND 2006. MR. BOTTUM SERVED ON THE CURF BOARD OF DIRECTORS FROM JUNE 2007 UNTIL JULY 2012. OMNIBOND SYSTEMS, LLC IS A START-UP COMPANY FORMED IN 1999 BY INDIVIDUALS WORKING AT CLEMSON UNIVERSITY, WHO CREATED CERTAIN SOFTWARE OWNED BY CLEMSON AND ASSIGNED TO CURF. PURSUANT TO A LICENSE AGREEMENT EXECUTED ON MAY 31, 1999, OMNIBOND SYSTEMS, LLC LICENSED THE SOFTWARE FROM CURF TO COMMERCIALIZE IN THE PUbLIC MARKET AND REMIT ROYALTIES BACK TO CURF. MR. BOTTUM WAS NOT AN OWNER IN OMniBOND SYSTEMS, LLC WHEN THE LICENSE AGREEMENT WAS PUT IN PLACE IN 1999.No$69,529
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, line 6

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.

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

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, Part VI, Section B, line 11

Form 990 is provided to the Audit Committee and sent to the board members prior to the filing deadline.

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

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

Form 990, Part VI, Section B, line 15

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.

Form 990, Part VI, Section C, line 19

All documents are available to the public on request.

Form 990, PART VI, Schedule A, LINE 2:

Former Board member, James Bottum, is 50% owner of a corporation that has a contractual relationship with CURF for information technology Development. Some board members are key employees of clemson University.

Filing and Contact Details

Filer

Filer Name
Clemson University Research Foundation
EIN
57-0750000
Phone
8646560925
Address
PO Box 946, Clemson, SC 29633-0946

Signing Officer

Name
charles tegen
Title
treasurer
Phone
8646560925
Signed
2017-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
charles tegen
Formed
1982
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
7
Employees
0
Volunteers
20

Preparer

Firm
Cherry Bekaert LLP
Address
110 East Court Street Suite 500, Greenville, SC 29601
Preparer
mark h cooter
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.

Part XII, Line 2C

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.

Form 990, PART V, LINEs 8 and 9:

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

Financial Statement Notes

Part IV, Line 1B:

security deposits held in escrow for tenants were disbursed during the year.

Part IV, Line 2B:

security deposits held in escrow for tenants were disbursed during the year.

Raw XML AppendixShowing 400 of 794 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/ReportableCompFromOrgAmt90
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Director - chair
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/TitleTxt12Executive Director - non-voting
IRS990/Form990PartVIISectionAGrp/TitleTxt13treasurer (NON VOTING)
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15director
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IRS990/MissionDesc0the mission is to advance the generation and commercialization of intellectual property at clemson university through support of research, technology transfer, and licensing administration.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt111186
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IRS990/OtherExpensesGrp/TotalAmt111186
IRS990/OtherExpensesGrp/TotalAmt210893
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IRS990/RelatedEntityInd01
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IRS990/ReportOtherLiabilitiesInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
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IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CURF supports the generation and commercialization of intellectual property of Clemson University through support of research, technology transfer, and licensing administration.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section E, Line 1c:
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IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Clemson University
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt01794223
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.39$0.26$9.12$2.47$2.23$0.24
2024Detailed filing. Detailed filing data is available for this year.$9.19$0.41$8.78$2.01$2.31$0.30
2023Detailed filing. Detailed filing data is available for this year.$9.56$0.58$8.98$1.94$2.47$0.53
2022Detailed filing. Detailed filing data is available for this year.$10.1$0.58$9.48$2.36$2.20$0.16
2021Detailed filing. Detailed filing data is available for this year.$9.37$0.06$9.31$1.88$2.07$0.19
2020Detailed filing. Detailed filing data is available for this year.$9.62$0.13$9.50$1.55$1.69$0.14
2019Detailed filing. Detailed filing data is available for this year.$9.78$0.14$9.63$1.92$3.18$1.26
2018Detailed filing. Detailed filing data is available for this year.$11.3$0.38$10.9$1.92$1.83$0.09
2017Detailed filing. Detailed filing data is available for this year.$11.2$0.39$10.8$2.71$2.70$0.01
2016Detailed filing. Detailed filing data is available for this year.$11.6$0.85$10.8$5.83$5.15$0.68
2015Detailed filing. Detailed filing data is available for this year.$13.6$3.45$10.1$6.75$6.95$0.19
2014Detailed filing. Detailed filing data is available for this year.$15.1$4.75$10.3$8.90$8.94$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$6.22$10.3$12.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.5$6.27$10.3$13.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.8$7.18$9.60$12.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.7$7.12$8.62$10.5