2024-05-13T13:46:15-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 110 EAST COURT STREET GREENVILLE SC 29601 990 2022-07-01 570426335 CLEMSON UNIVERSITY FOUNDATION CLEM 8646561289 PO BOX 1889 CLEMSON SC 296331889 M KAREN MCCAULEY CEO AND PRESIDENT 8646561289 2024-05-13 1 M KAREN MCCAULEY 999009999 0 AMY DOSIK P00890743 8642333981 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z M KAREN MCCAULEY PO BOX 1889 CLEMSON SC 296331889 142335275 0 X CLEMSON.EDU/GIVING/CUFOUNDATIONS/INDEX.HTML X 1933 SC THE CLEMSON UNIVERSITY FOUNDATION IS ORGANIZED TO PROMOTE THE WELFARE AND FUTURE DEVELOPMENT OF CLEMSON UNIVERSITY IN ITS EDUCATIONAL AND SCIENTIFIC PURPOSES; TO SEEK AND RECEIVE GIFTS OR PUBLIC FUNDS FOR THE BENEFIT OF CLEMSON UNIVERSITY THROUGH ENDOWMENT GIVING, FUND-RAISING, OR OTHER PROGRAMS; AND TO MANAGE PRUDENTLY SUCH FUNDS AND THE DISBURSEMENT OF SUCH WITH A POLICY THAT ENCOURAGES THE ENHANCEMENT OF RESOURCES. 26 26 19 144 -571957 0 41768540 45244851 4196619 5393770 34260013 24401025 0 0 80225172 75039646 26182749 29338090 0 0 1390421 2891690 130882 232783 4865749 13463897 14595379 41167949 47057942 39057223 27981704 1218679731 1308176142 349787471 382560099 868892260 925616043 X THE FOUNDATION IS ORGANIZED TO PROMOTE THE WELFARE AND FUTURE DEVELOPMENT OF CLEMSON UNIVERSITY IN ITS EDUCATIONAL AND SCIENTIFIC RESEARCH PURPOSES AND TO SEEK AND RECEIVE GIFTS FOR THE BENEFIT OF CLEMSON UNIVERSITY THROUGH ENDOWMENT GIVING AND OTHER FUNDRAISING ACTIVITIES, AND TO MANAGE SUCH FUNDS PRUDENTLY AND WITHIN ESTABLISHED POLICY. TO LEARN MORE ABOUT THE WORK OF THE CLEMSON UNIVERSITY FOUNDATION, PLEASE VISIT OUR WEBSITE AT HTTPS://WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS/INDEX.HTML. 0 0 35406155 28749147 5393770 PROGRAM SUPPORT: FUNDING PROVIDED TO SUPPORT THE EDUCATIONAL, RESEARCH, AND PUBLIC SERVICE MISSION OF CLEMSON UNIVERSITY, INCLUDING SUPPORT FOR SCHOLARSHIPS, FELLOWSHIPS, FACULTY SUPPORT, AND ACADEMIC PROGRAM SUPPORT. THE SOURCES FOR FUNDING PROGRAM SUPPORT INCLUDE DONOR RESTRICTED GIVING FOR THESE PURPOSES AND SPENDABLE RETURN SUPPORT FROM ENDOWMENT FUNDS DESIGNATED FOR THESE PURPOSES. 588943 588943 CAPITAL PROJECTS: FUNDING PROVIDED IN SUPPORT OF THE EDUCATIONAL, RESEARCH, AND PUBLIC SERVICE MISSION OF CLEMSON UNIVERSITY THROUGH FUNDRAISING EFFORTS FOR PHYSICAL PLANT NEEDS. THIS INCLUDES FUNDING IN SUPPORT OF PRIORITIZED CAPITAL PROJECTS AND EXPENDITURES INCLUDING RENOVATION OF EXISTING FACILITIES, CONSTRUCTION OF NEW FACILITIES, AND LARGE DOLLAR EQUIPMENT EXPENDITURES RELATED TO RESEARCH AND ACADEMIC PROGRAMMING. THE SOURCES FOR FUNDING FOR THESE CAPITAL EXPENDITURES IS THROUGH DONOR GIVING. 35995098 1 1 0 1 0 1 1 0 1 1 1 1 0 0 1 0 0 1 0 0 1 0 0 1 0 0 0 1 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 130 0 1 19 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X X LISA MARCUS DIRECTOR ARO 8646561873 391 COLLEGE AVE STE 302 CLEMSON SC 29634 MATHEW BRENNAN DIRECTOR 1.00 0.00 X 0 0 0 JEFFREY BROWN DIRECTOR 1.00 0.00 X 0 0 0 MARSHALL BROWN DIRECTOR 1.00 0.00 X 0 0 0 JOHAN EVELAND DIRECTOR 1.00 0.00 X 0 0 0 JOHN DAN GARRISON DIRECTOR 2.00 0.00 X 0 0 0 NOEL GEOFFROY DIRECTOR 1.00 0.00 X 0 0 0 GERALD M GLENN DIRECTOR 2.00 0.00 X 0 0 0 ANITA HARGETT DIRECTOR 1.00 0.00 X 0 0 0 BRYANT AUBREY HARRELL DIRECTOR 2.00 0.00 X 0 0 0 ERNEST D HAYNES III DIRECTOR 1.00 0.00 X 0 0 0 JIM HENDRIX DIRECTOR 2.00 0.00 X 0 0 0 CHERYL HOLLAND VICE-CHAIR 3.00 0.00 X 0 0 0 ANN W HUNTER DIRECTOR 1.00 0.00 X 0 0 0 RAYMOND E JONES DIRECTOR 1.00 0.00 X 0 0 0 JAMES R KINGMAN DIRECTOR 1.00 0.00 X 0 0 0 ANTHONY L MATHIS CHAIR 3.00 0.00 X 0 0 0 DAVID L MORROW DIRECTOR 1.00 0.00 X 0 0 0 G MARK PHILLIPS DIRECTOR 1.00 0.00 X 0 0 0 CHERI M PHYFER DIRECTOR 2.00 0.00 X 0 0 0 ROBERT C RIGGINS DIRECTOR 1.00 0.00 X 0 0 0 ROBERT J STANZIONE DIRECTOR 2.00 0.00 X 0 0 0 KENNETH L SMITH DIRECTOR 1.00 0.00 X 0 0 0 EMILY P WALLACE DIRECTOR 1.00 0.00 X 0 0 0 MARK D WASSERMAN DIRECTOR 1.00 0.00 X 0 0 0 JOHNATHAN P WEITZ DIRECTOR 1.00 0.00 X 0 0 0 AMY J YODER DIRECTOR 1.00 0.00 X 0 0 0 M KAREN MCCAULEY PRESIDENT & CEO 32.50 0.00 X 253338 0 29596 ALICE EVATT TREASURER & CFO THRU 4/1/23 34.50 0.00 X 0 0 0 REGINA STEELE TREASURER & CFO FROM 4/1/23 33.50 0.00 X 0 0 0 APRIL PURVIS SECRETARY 35.50 0.00 X 178221 0 19449 JAMES CLEMENTS CLEMSON UNIVERSITY PRESIDENT 10.00 0.00 X 705331 0 0 JOHN C ALEXANDER CIO 7.50 0.00 X 184428 0 0 1321318 0 49045 4 0 1 0 ARAMARK EDUCATIONAL SERVICES LLC PO BOX 978839 DALLAS TX 75397 CATERING/FOOD SERVICE 1254081 CAMBRIDGE ASSOCIATES LLC PO BOX 412015 BOSTON MA 022412015 INVESTMENT 1007038 AETOS ALTERNATIVES MGMT LP 875 3RD AVENUE 6TH FLOOR NEW YORK NY 10022 INVESTMENT 899212 BLACKBAUD INC 2000 DANIEL DR CHARLESTON SC 29492 SOFTWARE 424305 SMG - DBA GREENVILLE CONVENTION CENTER 1 EXPOSITION DR GREENVILLE SC 29607 EVENT VENUE 292014 13 45244851 6511544 45244851 ENDOWMENT MANAGEMENT FEES 523000 2806817 2806817 DEVELOPMENT FEES 561000 1126646 1126646 PROGRAM & ACTIVITIES REVENUE 561000 620148 620148 MEMBERSHIP & REGISTRATION FEES 561000 276190 276190 AFFILIATE SERVICE FEES 561000 252500 252500 311469 311469 5393770 9469319 -571957 10041276 82227335 67295629 14931706 14931706 14931706 75039646 5393770 -571957 24972982 29338090 29338090 1586540 743449 843091 872530 872530 124376 124376 189785 189785 118459 97928 20531 44011 44011 95621 95621 232783 232783 1334007 1334007 2130510 1514102 392126 224282 880255 294210 4501 581544 632578 351938 72981 207659 133462 25506 88915 19041 282661 132433 91588 58640 666730 265319 61260 340151 750615 719843 13078 17694 27783 27783 189385 12730 176655 FUNCTIONS & EVENTS 3750383 2488841 92473 1169069 SHARED SERVICES 2746631 1610864 1135767 DEVELOPMENT FEES 825201 765435 59766 MEMBERSHIPS/SUBSCRIPT. 105546 86651 3398 15497 47057942 35995098 6197095 4865749 99799688 81031808 108175056 152605716 2064601 2836847 294468 678989 10882645 1741915 9168513 9140730 644737857 682554065 327606844 353745571 20000000 20000000 6832704 5582416 1218679731 1308176142 426439 1579989 104963908 132415389 244397124 248564721 349787471 382560099 X 59045075 65830000 809847185 859786043 868892260 925616043 1218679731 1308176142 X 27981704 28396957 345122 X 0 1 X 1 0 X 35644707 45528366 91212564 41768540 45244851 259399028 35644707 45528366 91212564 41768540 45244851 259399028 45553573 213845455 9630336 8106155 5708367 6833202 10041276 40319336 299718364 22343958 0.71350 0.71900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 52119 52119 45439033 45491152 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 59499 54703 62446 52119 228767 250000 250000 250000 250000 1000000 1500000 PART II - A, LINE 1, LOBBYING ACTIVITIES: THE AMOUNTS REPORTED AS LOBBYING EXPENDITURES ARE NON-PERSONNEL EXPENSES ASSOCIATED WITH CERTAIN LEGISLATIVE AFFAIRS FUNCTIONS FOR THE BENEFIT OF CLEMSON UNIVERSITY INCLUDING LEASED OFFICE SPACE. 1 0 9250 173445 1 1 X 2 708.00 0 0 0 1 1 104.00 500000 0 1 X 686820854 30235603 44419719 6865354 16442950 738167872 693751188 32980974 -19951042 6392373 13567893 686820854 515670251 37586598 158445368 5713405 12237624 693751188 511184672 18601317 2702820 5878043 10940515 515670251 483926898 13807043 29016181 7103996 8461454 511184672 0.07670 0.86860 0.05470 0 0 11900 8971049 8982949 1785818 1628037 157781 113878 113878 0 9140730 HEDGE FUNDS 147637874 F PRIVATE EQUITY 171868938 F PRIVATE REAL ASSETS 34238759 F 353745571 DUE TO RELATED ORGANIZATIONS 1470828 ACCRUED LIABILITY TO CLEMSON UNIVERSITY DUE TO NET INVESTMENT APPRECIATION 97279492 NOTE PAYABLE TO CLEMSON UNIVERSITY 146677655 ACTUARIAL LIABILITY OF ANNUITIES PAYABLE 3136746 248564721 102357435 28396957 391055 28788012 73569423 705142 765081 1470223 75039646 46352800 0 46352800 705142 705142 47057942 PART II, LINE 9: INCLUDED IN LAND, BUILDINGS, AND EQUIPMENT AT JUNE 30, 2023 AND 2022 IS LAND DONATED TO THE FOUNDATION WHICH HAD AN APPRAISED VALUE OF $8,971,049 IN THE YEAR IT WAS ACQUIRED. CONSERVATION EASEMENTS HAVE BEEN ASSIGNED TO PROPERTY LOCATED IN GEORGETOWN COUNTY, SOUTH CAROLINA WHICH REQUIRES THE LAND TO REMAIN IN ITS UNDEVELOPED STATE BUT ALLOW FOR THE CONSTRUCTION, OPERATION, AND MANAGEMENT OF A RESEARCH AND EDUCATIONAL FACILITY. THE CARRYING VALUE IS COMPRISED OF LAND OF $917,418 AND CONSERVATION EASEMENTS OF $8,053,631. DEPRECIATION EXPENSE FOR EACH OF THE YEARS ENDED JUNE 30, 2023 AND 2022 WAS $27,783. PART IV, LINE 2B: THE FOUNDATION HOLDS AND INVESTS FUNDS BELONGING TO AFFILIATED ORGANIZATIONS. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS OF THE FOUNDATION TO FUNCTION AS ENDOWMENTS. PAYOUTS ARE BASED ON A SPECIFIED PERCENTAGE OF THE 12-QUARTER ROLLING AVERAGE BALANCE OF THE ENDOWMENT FUNDS. THE PURPOSE, AS SPECIFIED BY THE DONOR, IS THE BASIS FOR UTILIZATION OF THE FUNDS, WITH THERE BEING THREE BROAD CATEGORIES OF SUPPORT - STUDENT SCHOLARSHIPS, FELLOWSHIPS, AWARDS, AND OTHER FINANCIAL AID; FACULTY SUPPORT; AND ACADEMIC COLLEGE AND DEPARTMENTAL SUPPORT. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF LIFE INSURANCE POLICIES -93,573. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 484,628. PART XI, LINE 4B - OTHER ADJUSTMENTS: TRANSFERS FROM RELATED ENTITY 765,081. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 152347246 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 25018176 0 0 0 0 0 0 177365422 0 177365422 1 0 1 1 1 0 PART I, LINE 3: INVESTMENTS ARE RECORDED AT FAIR MARKET VALUE. PART III ACCOUNTING METHOD: PART IV, LINE 1 THE ORGANIZATION WAS A TRANSFEROR OF PROPERTY TO VARIOUS FOREIGN CORPORATIONS (INVESTMENTS) DURING THE FISCAL YEAR. SOME OF THE AMOUNTS TRANSFERRED MET THE FORM 926 FILING REQUIREMENTS AND THE FOUNDATION HAS FILED THE FORM 926 FOR THESE TRANSACTIONS. PART IV, LINE 3 WHILE THE FOUNDATION HAD INVESTMENTS IN FOREIGN CORPORATIONS DUE TO VARIOUS ALTERNATIVE INVESTMENTS, THE OWNERSHIP INTERESTS WERE BELOW THE FILING THRESHOLDS FOR FORM 5471. PART IV, LINE 4 THE ORGANIZATION IS AN INVESTOR IN ONE OR MORE PASSIVE FOREIGN INVESTMENT COMPANIES ("PFICS"). THE ORGANIZATION DID NOT RECEIVE ANY TAXABLE DISTRIBUTIONS FROM ANY OF THE PFICS DURING THE FISCAL YEAR. FORM 8621 IS NOT BEING FILED PURSUANT TO IRS GUIDANCE SET FORTH IN REG. SEC. 1.1291-1(E). X X X X X X X 1 COLLEGE CONNECTIONS INC 6129 LONG MEADOW ROAD MCLEAN VA 22101 ALUMNI OUTREACH 0 0 73925 -73925 CCG CONSULTING GROUP LLC 4204 SUMMIT WAY MARIETTA GA 30066 CONSULTING FOR FUNDRAISING AND CAMPAIGNS 0 0 92630 -92630 GRADUWAY INC 2815 ELLIOTT AVE SEATTLE WA 98121 CONSULTING FOR FUNDRAISING 0 0 30000 -30000 BENTZ WHALEY FLESSNER INC 7900 XERXES AVE SOUTH STE 980 MINNEAPOLIS MN 55431 CAMPAIGN CONSULTANT 0 0 8004 -8004 BROWN RANDALL GROUP LLC 7845 COLONY RD SUITE C4-201 CHARLOTTE NC 28226 CONSULTING FOR FUNDRAISING AND CAMPAIGNS 0 0 26600 -26600 231159 -231159 AL AR CA CO DC KY ME MD MA MI MN NE NH NJ NY OH OK OR SC UT WA WV AL CT FL GA HI IL KS MS NM NC ND PA RI TN VA WI 1 CLEMSON UNIVERSITY G06 SIKES HALL CLEMSON SC 29634 576000254 170(C)(1) 29160761 177329 FMV AT PURCHASE EQUIPMENT TRANSFERRED TO CLEMSON UNIVERSITY TO PROMOTE THE WELFARE AND FUTURE DEVELOPMENT OF CLEMSON UNIVERSITY THROUGH PROGRAMMATIC AND SCHOLARSHIP SUPPORT 1 0 PART I, LINE 2: ALL DISBURSEMENTS TO CLEMSON UNIVERSITY ARE REVIEWED FOR COMPLIANCE WITH GIFT AGREEMENTS AND APPROPRIATENESS. SCHOLARSHIPS AND FINANCIAL AID ARE ADMINISTERED AND DISBURSED AS A PART OF THE FINANCIAL AID AWARD PROCESS THROUGH THE FINANCIAL AID DEPARTMENT OF CLEMSON UNIVERSITY. X X 1 1 X X 0 1 0 0 0 0 0 1 0 JAMES CLEMENTS CLEMSON UNIVERSITY PRESIDENT 700000 0 0 0 5331 0 0 0 0 0 705331 0 0 0 M KAREN MCCAULEY PRESIDENT & CEO 242173 0 0 0 11165 0 19792 0 9804 0 282934 0 0 0 APRIL PURVIS SECRETARY 161181 0 15000 0 2040 0 13333 0 6116 0 197670 0 0 0 JOHN C ALEXANDER CIO 125000 0 59428 0 0 0 0 0 0 0 184428 0 0 0 PART I, LINE 1A TRAVEL EXPENSES FOR THE SPOUSE OF THE CLEMSON UNIVERSITY SENIOR FUNDRAISING EMPLOYEE, THE PRESIDENT OF CLEMSON UNIVERSITY, ARE PAID WHEN A BONA FIDE BUSINESS PURPOSE EXISTS, WITH SUCH EXPENSES REVIEWED AND APPROVED BY SENIOR MANAGEMENT. AS EXPENSES ARE INCURRED FOR BUSINESS PURPOSES, THEY ARE NOT TREATED AS TAXABLE INCOME. THE SENIOR FUNDRAISING EMPLOYEE OF THE CLEMSON UNIVERSITY FOUNDATION, THE PRESIDENT OF CLEMSON UNIVERSITY, IS PROVIDED A FAMILY MEMBERSHIP TO A GOLF FACILITY, THE VALUE OF WHICH IS INCLUDED IN THE W-2 FOR THIS EMPLOYEE AS TAXABLE INCOME. PART I, LINE 4B THE PRESIDENT OF CLEMSON UNIVERSITY HAS A SECTION 457(F) DEFERRED COMPENSATION PLAN BASED ON PERFORMANCE METRICS WITH THE ANNUAL AMOUNT CONTRIBUTED TO THE PLAN DETERMINED BY THE CLEMSON UNIVERSITY BOARD OF TRUSTEES. THE PLAN IS FUNDED BY THE CLEMSON UNIVERSITY FOUNDATION. DURING THE TAX REPORTING PERIOD, $100,000 WAS CONTRIBUTED TO THE PLAN; HOWEVER, THERE WERE NO PAYMENTS OUT OF THE PLAN. ADDITIONALLY, A SUPPLEMENTAL RETIREMENT IS PROVIDED BY THE CLEMSON UNIVERSITY FOUNDATION IN THE FORM OF A COLLATERAL ASSIGNMENT SPLIT DOLLAR (CASD) ARRANGEMENT. SEE SCHEDULE L, PART V FOR A BROADER DESCRIPTION. PART I, LINE 7 BOTH THE CEO'S AND CIO'S TOTAL COMPENSATION INCLUDES BASE COMPENSATION FOR SERVICES ALONG WITH VARIABLE COMPENSATION POTENTIAL. VARIABLE COMPENSATION, IF ANY, IS DETERMINED AT THE CLOSE OF THE FISCAL YEAR BASED UPON PRE-ESTABLISHED CRITERIA AND SUBJECT TO APPROVAL BY THE EXECUTIVE COMMITTEE (WITH HUMAN RESOURCES DELEGATION) AND REPORT TO THE FULL BOARD. JAMES CLEMENTS KEY EMPLOYEE SEE PART V X 1700000 1504495 0 1 1 JAMES CLEMENTS KEY EMPLOYEE SEE PART V X 1500000 1332352 0 1 1 2836847 SCHEDULE L, PART II THE FOUNDATION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE ARRANGEMENT IS CONSIDERED A LOAN FOR TAX PURPOSES, NO FUNDS ARE TRANSFERRED TO THE EXECUTIVE. CASD WORKS AS FOLLOWS: THE FOUNDATION DEPOSITS FUNDS INTO A CASH VALUE LIFE INSURANCEPOLICY ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST THE VALUES IN THE POLICY TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE FOUNDATION'S RECOVERY RIGHTS. AT THE DEATHS OF THE EXECUTIVE AND HIS SPOUSE, THE POLICY DEATH PROCEEDS ARE FIRST USED TO REPAY THE FOUNDATION ITS DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY THEN RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. ANY REMAINING DEATH PROCEEDS ARE AVAILABLE TO BE PAID TO THE EXECUTIVE'S BENEFICIARY. THE RECOVERY RIGHT IS A KEY ADVANTAGE OF A CASD FOR THE FOUNDATION. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER CASD THE FOUNDATION RECOVERS NOT ONLY ITS OUTLAYS, BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY. NOTE THE DIFFERENCE BETWEEN THE AMOUNT REPORTED ON FORM 990, PART X, LINE 5 AND SCHEDULE L IS DUE TO THE FACT THAT FOR GAAP THE LOAN AMOUNT IS RECORDED AT THE LESSER OF (1) CASH SURRENDER VALUE PLUS ANY PREMIUM DEPOSIT ACCOUNT AND TAX ACCOUNT BALANCES OR (2) PREMIUM "LOAN" PLUSACCRUED INTEREST. FORM 990, PART X, LINE 5 SHOWS THE CASH SURRENDER VALUE FOR AUDITED FINANCIAL STATEMENT PURPOSES WHILE SCHEDULE L REPORTS THE PREMIUM "LOAN" PLUS ACCRUED INTEREST. X 111 6511544 AVERAGE MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE HAS AUTHORITY TO TAKE OFFICIAL ACTION BETWEEN MEETINGS OF THE FULL BOARD ON ALL MATTERS, EXCEPT THE ADOPTION OF MODIFICATION OF THE ORGANIZATION'S CONSTITUTION, BASIC POLICY PRONOUNCEMENTS REGARDING GOVERNANCE OF THE ORGANIZATION, AND ACTIONS SPECIFIED IN SOUTH CAROLINA CODE SECTION 33-31-825(E). COMPOSITION OF THE EXECUTIVE COMMITTEE INCLUDES THE FOLLOWING VOTING BOARD MEMBERS: CHAIR, VICE CHAIR, AND IMMEDIATE PAST CHAIR OF THE BOARD AND CHAIRS OF THE STANDING BOARD COMMITTEES. ADDITIONALLY, SEVERAL EX-OFFICIO/NON-VOTING MEMBERS OF THE FULL BOARD ARE INCLUDED. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING, WITH THE GOVERNANCE COMMITTEE CHARGED WITH REVIEWING THE 990 IN DETAIL. FORM 990, PART VI, SECTION B, LINE 12C CLEMSON UNIVERSITY FOUNDATION BOARD AND KEY EMPLOYEES RECEIVE A COPY OF THE CODE OF CONDUCT WITH THE CONFLICT OF INTEREST POLICY ANNUALLY FOR REVIEW AND SIGNATURE. ANY DIRECTOR OR OFFICER WHO HAS AN INTEREST IN A CONTRACT, A NON-PASSIVE INVESTMENT OR OTHER TRANSACTION PRESENTED TO THE BOARD OF DIRECTORS OR A COMMITTEE THEREOF FOR AUTHORIZATION, APPROVAL OR RATIFICATION SHALL MAKE A PROMPT AND FULL DISCLOSURE OF HIS OR HER INTEREST TO THE BOARD OF DIRECTORS OR SUCH COMMITTEE PRIOR TO ANY ACTION ON SUCH CONTRACT OR TRANSACTION BY THE BOARD OF DIRECTORS OR SUCH COMMITTEE. IF A CONFLICT IS DEEMED TO EXIST, SUCH PERSON SHALL NOT VOTE ON, NOR USE HIS OR HER PERSONAL INFLUENCE ON, NOR PARTICIPATE IN (OTHER THAN TO PRESENT FACTUAL INFORMATION OR TO RESPOND TO QUESTIONS) THE DISCUSSIONS OR DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO AND OTHER OFFICERS IS SET BY THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF DIRECTORS FOR THE CLEMSON UNIVERSITY FOUNDATION. THE PROCESS INCLUDES AN ANNUAL COMPENSATION REVIEW WITH ANALYSIS OF DATA FOR COMPARABLE POSITIONS AT SIMILAR INSTITUTIONS, AS WELL AS CONSIDERATION OF THE STANDARDIZED CLASSIFICATION AND COMPENSATION PROCESS FOR THIS POSITION AS DETERMINED BY CLEMSON UNIVERSITY'S OFFICE OF HUMAN RESOURCES UNDER THE GUIDELINES ESTABLISHED BY THE STATE OF SOUTH CAROLINA. THE PROCESS IS DOCUMENTED AND ACTION MEMORIALIZED AS A PART OF THE PERMANENT MINUTES OF BOTH THE HUMAN RESOURCES COMMITTEE AND THE FULL BOARD. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND UPON REQUEST. EXEMPT ORGANIZATION STATUS WAS FILED IN 1933 AND FILING DOCUMENTS ARE NOT AVAILABLE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF LIFE INSURANCE POLICIES -93,573. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 484,628. NET TRANSFERS TO AFFILIATED ENTITIES -45,933. CUF DATA ADMINISTRATOR LLC PO BOX 1889 CLEMSON SC 29633 831031436 ADMINISTRATION OF INFORMATION TECHNOLOGY SERVICES SC 0 383418 CLEMSON UNIVERSITY FOUNDATION CUF EAST BAY PROPERTY LLC PO BOX 1889 CLEMSON SC 29633 931573913 INVESTMENT IN ASSETS FOR CUF SC 0 1000 CLEMSON UNIVERSITY FOUNDATION CHARITABLE REMAINDER TRUSTS (19) TRUST SC N/A T 0 CLEMSON UNIVERSITY FOUNDATION HOLDINGS LLC 155 OLD GREENVILLE HWY STE 105 CLEMSON SC 29631 813206816 INVESTMENTS SC CLEMSON UNIVERSITY FOUNDATION C 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0