Usc Alumni Center Corporation

“The form 990 tax return is mailed to all board members prior to filing.”

“The organization annually requires its officers, directors, and trustees to disclose annual potential conflicts. If a conflict arises during the year the policy requires disclosure.”

“Governing documents are made available to the public upon request.”

“The organization was dissolved effective january 20, 2021 and ceased operations. Tax credit forgiveness of notes payable of $3,450,000.”

“Part i, line i summary of mission purposes: the corporation is organized exclusively for charitable, educational and scientific purposes, including, for such purposes, making of distributions to organizations which qualify as exempt organizations under section 501(c)(3) of the internal revenue code of 1986, as amended, or the corresponding section of any future united states internal revenue law objectives. To accomplish the aforementioned purposes, the corporation will have the following objectives: to promote the general educational interests of the state of south carolina ("the state") in the confident belief that the development of education citizenship is one of the high aims and noble missions of the state. To promote the development of the university of south carolina alumni association, a south carolina nonprofit corporation, and the university of south carolina ("the university"). To meet the needs of the state for an institution of higher education, and to encourage the maintenance of its scholarship and high tradition. To ensure that the alumni body and stakeholders of the university are informed, actively engaged and committed to the university to promote good fellowship and to foster understanding and good feelings among the alumni and the student body of the university. To coordinate the investment and assets in order to implement the redevelopment project plan for the low-income census area in columbia, south carolina bounded by gervais, greene, assembly and gadsden streets, and referred to herein as the alumni center area ("the alumni center area"). To coordinate the combined investments of the corporation with other agencies, political subdivisions, and municipalities of the state in order to i) magnify opportunities in connection with the re-development of the alumni center area, ii) accelerate economic and community development in the areas surrounding the campuses and facilities of the university, iii) create and attract jobs and employment opportunities in south carolina, iv) lessen the burdens of government of the state, v) combat community deterioration in and around the university campus, including the alumni center area, and other educational, administrative, and operational facilities, space, and surrounding areas of the university. To promote, support and aid any and all other activities and programs which will further the mission of the university of south carolina alumni association and the university, the general educational interests of the state, and the charitable purposes of the corporation.”

“The organization was dissolved effective january 20, 2021 and ceased operations.”

“Contracted services: program service expenses 48,297. Management and general expenses 0. Fundraising expenses 0. Total expenses 48,297.”

“Net assets transferred to university of south carolina alumni association -11,584,270.”