Civic Intelligence

Clemson University Land Stewardship Foundation Inc

EIN 84-3970393 • 501(c)3 • Clemson, SC

Clemson, SC
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

75th percentile

0.61x

Higher debt load relative to assets than 75% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

96th percentile

10.55x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

81st percentile

27%

Higher net margin than 81% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

30th percentile

1.4%

Faster asset growth than 30% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

49th percentile

7.7%

Faster revenue growth than 49% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Assets

Down

$116,425,386

Down $5,373,192 (-4.4%) from 2023

Liabilities

Up

$72,298,600

Up $1,902,443 (+2.7%) from 2023

Net Assets

Down

$44,126,786

Down $7,275,635 (-14%) from 2023

Revenue

Down

$6,345,373

Down $999,914 (-14%) from 2023

Expenses

Up

$4,880,871

Up $547,513 (+13%) from 2023

Net Income

Down

$1,464,502

Down $1,547,427 (-51%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2020: $73,483,419Liabilities 2020: $44,136,185Net Assets 2020: $29,347,2342020Assets 2021: $116,151,747Liabilities 2021: $68,728,004Net Assets 2021: $47,423,7432021Assets 2022: $114,091,034Liabilities 2022: $65,700,542Net Assets 2022: $48,390,4922022Assets 2023: $121,798,578Liabilities 2023: $70,396,157Net Assets 2023: $51,402,4212023Assets 2024: $116,425,386Liabilities 2024: $72,298,600Net Assets 2024: $44,126,7862024

Highlighted filing

2024

Assets$116,425,386
Liabilities$72,298,600
Net Assets$44,126,786

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2020: $832,383Expenses 2020: $732,584Net Income 2020: $99,7992020Revenue 2021: $6,635,950Expenses 2021: $3,589,896Net Income 2021: $3,046,0542021Revenue 2022: $5,229,914Expenses 2022: $4,263,165Net Income 2022: $966,7492022Revenue 2023: $7,345,287Expenses 2023: $4,333,358Net Income 2023: $3,011,9292023Revenue 2024: $6,345,373Expenses 2024: $4,880,871Net Income 2024: $1,464,5022024

Highlighted filing

2024

Revenue$6,345,373
Expenses$4,880,871
Net Income$1,464,502

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 8, 2025
Return Version
2023v6.0
Gross Receipts
$6,345,373
Mission and Program Overview

Mission

To receive and manage real property and related assets for the benefit of clemson university through active development, leasing and management and to solicit gifts in support of this purpose.

The clemson university land stewardship foundation supports clemson university through development activities associated with real property and economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$95,592,648$91,761,592▼ $3,831,056
Land, Buildings, and Equipment, Net$11,251,128$11,032,236▼ $218,892
Savings and Temporary Cash Investments$3,358,178$2,697,150▼ $661,028
Cash and Non-Interest-Bearing Accounts$1,503,542$1,189,190▼ $314,352
Accounts Receivable$831,884$1,121,807▲ $289,923
Total Assets$121,798,578$116,425,386▼ $5,373,192
Other Assets Total$9,261,198$8,623,411▼ $637,787
Liabilities
Mortgage Notes Payable Secured by Investment Property$46,201,925$45,665,485▼ $536,440
Other Liabilities$23,090,874$23,879,804▲ $788,930
Deferred Revenue$86,711$1,706,051▲ $1,619,340
Accounts Payable and Accrued Expenses$1,016,647$1,047,260▲ $30,613
Total Liabilities$70,396,157$72,298,600▲ $1,902,443
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$51,402,421$44,126,786▼ $7,275,635
Total Net Assets Fund Balance$51,402,421$44,126,786▼ $7,275,635
Total Liabilities and Net Assets / Fund Balance$121,798,578$116,425,386▼ $5,373,192

Asset Categories

AssetBook ValueDepreciationBasis
Land$8,570,067-$8,570,067
Buildings$2,304,952$1,928,611$4,233,563
Leasehold Improvements$14,333$380,446$394,779
Other Land Buildings$142,884$211,431$354,315
Equipment$0$19,514$19,514
Investment Program Related Org$91,761,592--
Other Assets Org$751,552--
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
The Budd Group INCCustodial ServicesPO BOX 890856, Charlotte, NC 28289$317,647
Dovetail ConstructionConstruction218 RICE STREET, Greenville, SC 29605$243,643
Project One Master Owners AssociationProperty Mgmt. ServicesPO BOX 2567, Greenville, SC 29602$200,152
Signal 88 LLCSecurity ServicesPO BOX 8246, Omaha, NE 68108$168,073
Colliers Int'l Of Sc HoldingsReal Estate ServicesPO BOX 11610, Columbia, SC 29211$106,594
Revenue and Support

Revenue Composition

Contributions and Grants
$289,668
Program Service Revenue
$5,961,033
Investment Income
$94,672
Other Revenue
$0
Change in Net Assets
$1,464,502

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,345,373
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-8,740,137
Total Revenue per Audited Statements
$-2,394,764
Total Revenue per Form 990
$6,345,373
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,880,871
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,637,052--$1,637,052
Occupancy$1,203,039$2,151-$1,205,190
Fees for Services Other$1,099,907$9,600-$1,109,507
Other Expenses$310,997$167,374-$478,371
Depreciation Depletion$25,682$193,210-$218,892
Insurance$99,697$38,708-$138,405
Fees for Services Accounting-$47,513-$47,513
Fees for Services Legal$30,472--$30,472
Conferences and Meetings-$8,497-$8,497
Information Technology-$5,404-$5,404
Office Expenses-$1,568-$1,568
Total Functional Expenses$4,406,846$474,025$0$4,880,871

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,880,871
Total Expenses per Audited Statements$4,880,871
Total Expenses per Form 990$4,880,871
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Clemson University Fdtn.$23,594,295
Unearned Revenue$144,834
Deposits Held for Others$140,675
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
No
Other officer compensation reviewed
No
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 7A

Three directors shall be appointed by the board of trustees of clemson university and two directors shall be appointed by the board of directors of clemson university foundation.

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

Form 990 is sent to all board members for review and comment prior to filing. It is discussed and reviewed in depth by the finance committee.

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

Board members and officers are required to annually complete and sign a conflict of interest statement disclosing any interests which may be considered as a conflict relative to business dealings or board actions. These annual statements are reviewed and any conflicts acknowledged. In the event of a conflict, the individual involved will abstain from board actions where conflicts are deemed to be present. Review of any potentially conflicted business dealings is performed to ensure appropriateness and 'arm's length' negotiations and pricing.

Form 990, Part VI, Section B, Line 15

Clemson university land stewardship foundation has no employees.

Form 990, Part VI, Section C, Line 19

The foundation's website is (www.clemson.edu/giving/cufoundations/structure/culsf/). This website displays links to governing documents, financial statements, irs form 990 and the conflict of interest policy.

FORM 990, PART VII, HOURS FOR RELATED ORGANIZATIONS:

The following individuals received compensation from clemson university foundation ("cuf"). Cuf is a related organization of clemson university but not culsf. Therefore, their hours related to cuf have not been reported on this return in the box for hours for related organizations but these individuals generally work 37.5 hours per week in total. - m karen mccauley - regina steele travis - jason przybyla

Filing and Contact Details

Filer

Filer Name
Clemson University Land Stewardship
EIN
84-3970393
Phone
8646561289
Address
PO BOX 1889, CLEMSON, SC 29633-1889

Signing Officer

Name
M Karen Mccauley
Title
President & CEO
Phone
8646561289
Signed
2025-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen F Hutchinson
Formed
2019
Legal Domicile
Sc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Cherry Bekaert Advisory LLC
Address
110 EAST COURT STREET SUITE 500, GREENVILLE, SC 29601
Preparer
Bree-ann Weidner
Phone
8642333981
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contract services: program service expenses 822,122. Management and general expenses 9,600. Fundraising expenses 0. Total expenses 831,722. Professional fees: program service expenses 277,785. Management and general expenses 0. Fundraising expenses 0. Total expenses 277,785.

Financial Statement Notes

PART II, LINE 9:

Through june 30, 2017, included in the land was 853.53 acres of timberland in camden, south carolina that had an appraised value of $7,750,000. The foundation sold approximately 100 acres of the land during the year ended june 30, 2018, resulting in 754.09 remaining acres of timberland with an appraised value of $7,493,067. The foundation has assigned a conservation easement requiring the land remain in its undeveloped state except for construction, operation, and management of facilities for educational purposes. At june 30, 2024 and 2023, the market value was comprised of land at $1,936,067 and a conservation easement at $5,557,000 both of which are included in land.

PART X, LINE 2:

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, 2024 and, accordingly, no liability has been accrued.

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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/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13SECRETARY/ASST TREASURER
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IRS990/MissionDesc0TO RECEIVE AND MANAGE REAL PROPERTY AND RELATED ASSETS FOR THE BENEFIT OF CLEMSON UNIVERSITY THROUGH ACTIVE DEVELOPMENT, LEASING AND MANAGEMENT AND TO SOLICIT GIFTS IN SUPPORT OF THIS PURPOSE.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE BYLAWS OF THE FOUNDATION PROVIDE THAT 3 OF ITS 11 DIRECTORS BE APPOINTED BY THE BOARD OF TRUSTEES OF CLEMSON UNIVERSITY. THE OFFICERS AND DIRECTORS MAINTAIN A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE OFFICERS AND TRUSTEES OF THE UNIVERSITY. EXAMPLES OF SUCH CLOSE AND CONTINUOUS WORKING RELATIONSHIP ARE (I) THE STATED PURPOSE OF THE CORPORATION IN ITS ARTICLES AND BYLAWS, (II) THE CORPORATION'S DEDICATION OF EXCLUSIVITY OF SUPPORT DURING ITS EXISTENCE AND UPON DISSOLUTION TO THE UNIVERSITY, AND (III) THE UNIVERSITY'S BOARD OF TRUSTEES ABILITY TO APPOINT DIRECTORS TO THE BOARD OF CULSF. THE CORPORATION'S BYLAWS ADDITIONALLY REQUIRE THE AFFIRMATIVE VOTE OF 2/3RDS OF ALL VOTING DIRECTORS FOR CERTAIN KEY DECISIONS. ALL THESE NOTICES AND APPROVALS GRANTED TO THE UNIVERSITY ARE DESIGNED TO ENSURE BOTH A CLOSE AND CONTINUOUS WORKING RELATIONSHIP BETWEEN THE ORGANIZATIONS AND THAT THE UNIVERSITY HAS A SIGNIFICANT VOICE IN THE USE OF THE INCOME AND ASSETS OF CULSF.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE BYLAWS OF CULSF PROVIDE FOR THE OVERARCHING PURPOSE AND OBJECTIVE OF THE ORGANIZATION TO CARRY OUT THE PURPOSES OF CLEMSON UNIVERSITY. SECTION 2.1 OF THE BYLAWS SPECIFY THAT CULSF SHALL AT ALL TIMES BE OPERATED, EXCLUSIVELY FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF CLEMSON UNIVERSITY. IN ADDITION, IN SECTION 2.2 OF THE BYLAWS CULSF'S OBJECTIVES ARE CLEARLY DEFINED TO SUPPORT CLEMSON UNIVERSITY DIRECTLY AND/OR THROUGH THE CLEMSON UNIVERSITY FOUNDATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2CULSF HAS BEEN ESTABLISHED, INDEPENDENTLY, TO SUPPORT THE UNIVERSITY IN EXECUTING ITS EDUCATIONAL AND RESEARCH MISSION OF PROMOTING TECHNOLOGICAL AND ECONOMIC GROWTH IN THE STATE AND IS ANTICIPATED TO BECOME AN INTEGRAL COMPONENT OF THE UNIVERSITY. DUE TO LEGAL AND PRACTICAL CONSTRAINTS ON THE UNIVERSITY, CERTAIN INNOVATIVE RESEARCH AND TECHNOLOGY DEVELOPMENT MODELS WILL BE MORE READILY EXECUTABLE BY CULSF. IT IS ANTICIPATED THAT CULSF WILL BE WELL-POSITIONED TO PURSUE STRATEGIC ALLIANCES, JOINT VENTURES, AND OTHER COLLABORATIONS WITH BOTH NOT-FOR-PROFIT AND FOR-PROFIT ENTITIES WHO MAY NOT WISH TO PARTNER DIRECTLY WITH STATE AGENCIES. THESE ACTIVITIES DIRECTLY FURTHER THE UNIVERSITY'S EDUCATIONAL, RESEARCH AND DEVELOPMENT MISSIONS, AND MANY OF THESE ARE ACTIVITIES THAT, BUT FOR CULSF'S INVOLVEMENT, WOULD NORMALLY BE ENGAGED IN BY THE UNIVERSITY ITSELF.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, SECTION D, LINE 3:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SCHEDULE A, PART IV, SECTION E, LINE 2A:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2SCHEDULE A, PART IV, SECTION E, LINE 2B:
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