2023-11-06T07:53:40-06:00 2023-06-30 570381582 ELLIOTT DAVIS LLCPLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2022-07-01 223858837 CCU STUDENT HOUSING FOUNDATION CCUS 8433492194 PO BOX 261954 CONWAY SC 295286054 NANCY JARRETT EXECUTIVE DIRECTOR 8433492194 2023-11-03 1 NANCY JARRETT 999009999 1 JANICE A RATICA P00358837 7043338881 2023-11-03 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NANCY JARRETT PO BOX 261954 CONWAY SC 295286054 2360418 0 X WWW.COASTAL.EDU/SHF X 2002 SC THE FOUNDATION'S MISSION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF COASTAL CAROLINA UNIVERSITY BY SUPPORTING STUDENT HOUSING AND VARIOUS UNIVERSITY ENDEAVORS. 6 6 1 6 0 0 0 0 0 0 14439 97082 1 50000 14440 147082 0 3695000 0 0 87552 49153 0 0 0 124447 38142 211999 3782295 -197559 -3635213 6204499 6291896 17349 3683301 6187150 2608595 X THE FOUNDATION'S MISSION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF COASTAL CAROLINA UNIVERSITY TO LEASE, OPERATE, MANAGE, AND CONTRACT FOR THE CONSTRUCTION OF STUDENT HOUSING FACILITIES AND TO SUPPORT VARIOUS UNIVERSITY ENDEAVORS. 0 0 3500000 3500000 DURING THE YEAR ENDED JUNE 30, 2023, THE FOUNDATION AGREED TO PAY $3,500,000 TO SUPPORT STUDENT ACTIVITIES AT COASTAL CAROLINA UNIVERSITY. THE PAYMENT WILL BE MADE DURING 2024. 195000 195000 DURING THE YEAR ENDED JUNE 30, 2023, THE FOUNDATION MADE A PROMISE TO DONATE AN UNRESTRICTED GIFT OF $195,000 TO THE COASTAL EDUCATIONAL FOUNDATION PAYABLE OVER FIVE YEARS. 5931 DURING THE YEAR A PORTION OF ADMINISTRATIVE EXPENSES WERE DEDICATED TO THE PROGRAM SERVICES THAT BENEFIT COASTAL CAROLINA UNIVERSITY 1060 IN 2016, THE FOUNDATION PURCHASED A 26.71 ACRE LAND PARCEL FOR $1.825 MILLION TO BE DEVELOPED BY COASTAL CAROLINA UNIVERSITY IN THE FUTURE. 1060 3701991 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 3 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X NANCY JARRETT 8433492194 104 INDEPENDENCE DR ATHENEUM HALL CONWAY SC 29526 JACK L SPRINGS BOARD MEMBER 1.00 X 0 0 0 J MICHAEL FRAZIER BOARD MEMBER 1.00 X 0 0 0 DELAN STEVENS BOARD MEMBER 1.00 X 0 0 0 KEVIN M HAGEN BOARD MEMBER 1.00 X 0 0 0 BONAR B ANDERSON III VICE CHAIR 1.00 X X 0 0 0 DANIEL MACDONALD CHAIR 1.00 X X 0 0 0 NANCY Z JARRETT EXECUTIVE DIRECTOR 10.00 X 26205 0 0 MICHAEL T BENSON EX OFFICIO MEMBER, NONVOTI 1.00 39.00 X 0 0 0 26205 0 0 0 0 0 0 0 96826 96826 50000 0 50000 50000 50000 2213592 2213336 256 256 256 147082 0 0 147082 3695000 3695000 23725 2863 20862 23613 2849 20764 1815 219 1596 20359 20359 9523 1060 8463 8260 8260 3782295 3701991 80304 0 69711 112974 4527 4553 1875036 1875036 1875036 4255225 4299333 6204499 6291896 17349 3683301 17349 3683301 X 6187150 2608595 6187150 2608595 6204499 6291896 -3635213 53212 3446 0 X X 0 1 X 1 0 X X 1 COASTAL CAROLINA UNIVERSITY 570977955 6 1 3695000 0 1 3695000 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X SCHEDULE A, PART IV, SECTION A, LINE 2 THE SUPPORTED ORGANIZATION IS A IRC SECTION 115 STATE OF SC INSTRUMENTALITY. SCHEDULE A, PART IV, SECTION E, LINE 1(C) THE FOUNDATION'S MISSION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF COASTAL CAROLINA UNIVERSITY (EIN: 57-0977955) TO LEASE, OPERATE, MANAGE, AND CONTRACT FOR THE CONSTRUCTION OF STUDENT HOUSING FACILITIES AND TO SUPPORT VARIOUS UNIVERSITY ENDEAVORS. ALL SUPPORTING ACTIVITIES AND PROJECTS OF THE FOUNDATION ARE SPECIFICALLY REQUESTED BY THE UNIVERSITY TO FURTHER ITS ACADEMIC ENDEAVORS AND TO BENEFIT ITS STUDENTS. THE UNIVERSITY IS AN INSTRUMENTALITY OF SOUTH CAROLINA PROVIDING HIGHER EDUCATION. 1875036 1875036 1875036 MONEY MARKET FUNDS 1823720 C COMMERCIAL PAPER 296814 C U.S. TREASURY NOTE 2178799 C 4299333 X PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE FOUNDATION HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS ALSO EXEMPT FROM SOUTH CAROLINA INCOME TAXES. THE FOUNDATION IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS AT JUNE 30, 2023 OR 2022. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS ADDITIONAL INCOME TAXES, WHEN APPLICABLE. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR TAX YEARS BEFORE 2020. 1 COASTAL CAROLINA UNIVERSITY 100 CHANTICLEER DR E CONWAY SC 29528 570977955 3695000 0 TO SUPPORT STUDENT ACTIVITIES AT COASTAL COMMUNITY UNIVERSITY 1 1 PART I, LINE 2: ALL GRANTS AWARDED TO CCU TO SUPPORT ACTIVITIES AND PROJECTS ARE SPECIFICALLY REQUESTED BY CCU. THE GRANT REQUESTS ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE BOARD MAY REQUIRE A NARRATIVE REPORT AND BASIC FINANCIAL ACCOUNTING REPORTS AFTER ISSUANCE OF A GRANT TO TRACK THE USE OF FUNDS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, A DRAFT COPY OF THE FORM 990 IS DELIVERED TO EACH BOARD MEMBER. EACH BOARD MEMBER RESPONDS IN WRITING THAT THEY HAVE RECEIVED THE FORM 990; AND, WHETHER THEY HAVE QUESTIONS OR SPECIFIC ITEMS THAT NEED DISCUSSION OR EXPLANATION. IF NECESSARY, UNRESOLVED QUESTIONS ARE PRESENTED TO UNIVERSITY PERSONNEL, THE AUDITOR, OR OTHER OUTSIDE COUNSEL FOR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST STATEMENT IS COMPLETED ANNUALLY BY EACH BOARD MEMBER AND OFFICER. THESE FORMS ARE REVIEWED BY MANAGEMENT WITH CONSULTATION FROM OTHER OUTSIDE COUNSEL IF NECESSARY. IN THE EVENT OF A POTENTIAL CONFLICT DURING THE YEAR, THE INTERESTED BOARD MEMBER SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS THE COMPENSATION OF THE EXECUTIVE DIRECTOR AND ANY KEY EMPLOYEES. THE BOARD RELIES UPON COMPENSATION DATA FROM COMPARABLE POSITIONS IN THE AREA IN ORDER TO ENSURE REASONABLENESS. ALL DECISIONS RELATED TO COMPENSATION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 18 COASTAL CAROLINA UNIVERSITY POSTS CCU STUDENT HOUSING FOUNDATION'S FINANCIAL INFORMATION ON ITS SITE SINCE CCU STUDENT HOUSING FOUNDATION IS AN ASSOCIATED ENTITY IN THEIR AUDIT REPORT NOTES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ALONG WITH THE ANNUAL REPORT ARE AVAILABLE AT THE FOUNDATION OFFICE AND PROVIDED TO THOSE REQUESTING IN PERSON OR BY OTHER MEANS. FORM 990, PAGE 12, PART XII, LINE 2C, RESPONSIBILITY FOR OVERSIGHT OF AUDIT THE BOARD OF DIRECTORS OVERSEES THE AUDIT PROCESS. COASTAL HOUSING FOUNDATION LLC POST OFFICE BOX 707 CONWAY SC 29528 223858837 STUDENT HOUSING AND SUPPORT OF CCU SC 194324 9668661 CCU STUDENT HOUSING FOUNDATION COASTAL CAROLINA UNIVERSITY POST OFFICE 261954 CONWAY SC 29528 570977955 EDUCATION SC SECTION 115 N/A N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CCU - OTHER SUPPORT B 3695000 FAIR MARKET VALUE CCU - SHARED EMPLOYEES O 23613 FAIR MARKET VALUE