2024-05-15T10:35:17-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2022-07-01 570314395 FURMAN UNIVERSITY FURM 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 SUSAN MADDUX VP FOR FINANCE & ADMINISTRATION 8642943496 2024-05-14 1 SUSAN MADDUX XXX-XX-XXXX 1 SARAH HINTZ P00492291 3037795710 2024-05-14 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z SUSAN MADDUX 3300 POINSETT HIGHWAY GREENVILLE SC 29613 423818353 0 X WWW.FURMAN.EDU X 1826 SC FURMAN UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING DISTINCTIVE UNDERGRADUATE EDUCATION EMPHASIZING AN ENGAGED APPROACH COMBINING CLASSROOM LEARNING WITH REAL WORLD EXPERIENCES AND SELF-DISCOVERY. 31 31 2403 31 -205097 0 45654957 28517280 165918573 172953629 40499285 21160870 1279170 562619 253351985 223194398 72351213 78073353 0 0 92201699 88202380 0 0 6094846 74992806 89797408 239545718 256073141 13806267 -32878743 1328407958 1280396314 188431815 186472531 1139976143 1093923783 THE PRIMARY MISSION OF FURMAN AS A LIBERAL ARTS INSTITUTION IS TO PROVIDE A DISTINCTIVE EDUCATION IN FINE ARTS, HUMANITIES, SOCIAL SCIENCES, MATHEMATICS AND THE SCIENCES, AS WELL AS SELECTED PROFESSIONAL DISCIPLINES. 0 0 164258070 78073353 131702867 INSTRUCTION OF STUDENTS IN BOTH UNDERGRADUATE AND GRADUATE PROGRAMS. A PERSONALIZED FOUR-YEAR PATHWAY FOR STUDENTS INSTITUTED BY THE FURMAN ADVANTAGE INCLUDES HIGH IMPACT, ENGAGED LEARNING THROUGH RESEARCH, INTERNSHIPS, AND STUDY ABROAD PROGRAMS. SCHOLARSHIPS ARE AWARDED TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED AND ACADEMIC MERIT. 35579853 0 4275707 STUDENT SERVICES INCLUDES INTERCOLLEGIATE ATHLETICS, INTRAMURAL AND CLUB SPORTS, ENROLLMENT MANAGEMENT, STUDENT GOVERNMENT AND A LARGE VARIETY OF STUDENT ORGANIZATIONS, SERVICES AND ACTIVITIES. 26187824 0 37030317 THE UNIVERSITY CONDUCTED AUXILIARY ENTERPRISES FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF AND THE AT-LARGE COMMUNITY. THESE AUXILIARY ENTERPRISES INCLUDE STUDENT HOUSING, DINING SERVICES, GOLF COURSE, SPORTS ARENA AND CONFERENCE CENTER. 226025747 1 1 0 0 0 1 0 1 1 1 1 1 0 1 1 1 0 1 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 0 0 0 1 3390 0 1 2403 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 SC X X DAWN DURHAM 8642942000 3300 POINSETT HIGHWAY GREENVILLE SC 29613 KEVIN T BYRNE CHAIR 2.00 0.00 X X 0 0 0 ROBERT E HILL JR VICE CHAIR 2.00 0.00 X X 0 0 0 CHRISTINA NEWSOM BYRON SECRETARY 2.00 0.00 X X 0 0 0 CHARLES AMBROSE TRUSTEE 2.00 0.00 X 0 0 0 KEVIN R BRYANT TRUSTEE 2.00 0.00 X 0 0 0 JOLLEY BRUCE CHRISTMAN TRUSTEE 2.00 0.00 X 0 0 0 THOMAS CULLEN TRUSTEE 2.00 0.00 X 0 0 0 CYNTHIA DAVIS TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN BAUCOM DAVIES TRUSTEE 2.00 0.00 X 0 0 0 LEE C DILLWORTH TRUSTEE 2.00 0.00 X 0 0 0 FRANCES ELLISON TRUSTEE 2.00 0.00 X 0 0 0 JOHANNA FRIERSON TRUSTEE 2.00 0.00 X 0 0 0 DAVID L HAUSER TRUSTEE 2.00 0.00 X 0 0 0 YENDELELA NEELY HOLSTON TRUSTEE 2.00 0.00 X 0 0 0 JAMES A LANIER JR TRUSTEE 2.00 0.00 X 0 0 0 DAVID LAXER TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY WILTON MCDADE TRUSTEE 2.00 0.00 X 0 0 0 TRACI MILLER TRUSTEE 2.00 0.00 X 0 0 0 JASON W RICHARDS TRUSTEE 2.00 0.00 X 0 0 0 PAUL L ROBERTSON III TRUSTEE 2.00 0.00 X 0 0 0 SUSAN THOMSON SHI TRUSTEE 2.00 0.00 X 0 0 0 PEACE SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 A ALEXANDER TAYLOR II TRUSTEE 2.00 0.00 X 0 0 0 BRENDA J THAMES TRUSTEE 2.00 0.00 X 0 0 0 RACHELLE HARLEY THOMPSON TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM BYRD TRAXLER JR TRUSTEE 2.00 0.00 X 0 0 0 DAVID J TRONE TRUSTEE 2.00 0.00 X 0 0 0 C KEMMONS W WILSON TRUSTEE 2.00 0.00 X 0 0 0 MATTHEW WALLIS WILSON TRUSTEE 2.00 0.00 X 0 0 0 RICHARD N WRENN JR TRUSTEE 2.00 2.00 X 0 0 0 JOHN C YATES TRUSTEE 2.00 0.00 X 0 0 0 DR ELIZABETH DAVIS PRESIDENT 40.00 0.00 X 859371 0 36724 SUSAN MADDUX VP FOR FINANCE & ADMINISTRATION 40.00 2.00 X 350377 0 42914 THOMAS E EVELYN II VP FOR UNIVERSITY COMMUNICATIONS 40.00 0.00 X 270780 0 64109 HEIDI MCCRORY VP FOR DEVELOPMENT 40.00 0.00 X 253485 0 50899 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 40.00 0.00 X 275481 0 48231 CONNIE L CARSON VP FOR STUDENT LIFE 40.00 0.00 X 248288 0 31806 BETH PONTARI INTERIM VP FOR ACADEMIC AFFAIRS & PROVOST 40.00 0.00 X 200405 0 38350 W MICHALE HENDRICKS VP FOR ENROLLMENT MGMT (1/1/22 - 7/4/22) 40.00 0.00 X 172948 0 25811 ROBERT KENNEY CHIEF INVESTMENT OFFICER 40.00 0.00 X 273490 0 56064 JEFF REDDERSON ASSOCIATE VP FOR FACILITIES SERVICES 40.00 0.00 X 172502 0 27809 JEREMY CASS DEAN OF FACULTY 40.00 0.00 X 194748 0 24875 MEREDITH GREEN GENERAL COUNSEL 40.00 0.00 X 165427 0 31527 ELIZABETH SEMAN CHIEF OF STAFF 40.00 0.00 X 175587 0 18119 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 40.00 0.00 X 397228 0 50400 CLAYTON HENDRICKS HEAD FOOTBALL COACH 40.00 0.00 X 297007 0 49547 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 40.00 0.00 X 241052 0 38454 JOHN WHEELER ASSOC PROVOST FOR INTEGRATIVE SCIENCE 40.00 0.00 X 171173 0 46518 KENNETH PETERSON VP ACADEMIC AFFAIRS & PROVOST (1/1/22 - 6/30/22) 40.00 0.00 X 242000 0 28346 DAVID P STEINOUR CHIEF INFORMATION OFFICER (1/1/22-4/29/22) 40.00 0.00 X 116296 0 9581 RICARD MEADE FORMER MEN'S HEAD LACROSSE COACH 0.00 0.00 X 261512 0 0 5339157 0 720084 117 1 1 0 COMPASS GROUP USA INC 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 11121680 TRIANGLE CONSTRUCTION CO 2624 LAURENS RD GREENVILE SC 29607 CONSTRUCTION 3551154 MCMILLAN PAZDAN SMITH LLC 400 AUGUSTA STREET GREENVILLE SC 29601 ARCHITECTS 2084931 WORKDAY INC 6110 STONERIDGE MALL ROAD PLESANTON CA 94588 ERP, COMPUTER CLOUD SERVICES 847529 APOGEE TELECOM INC 1905 KRAMER LANE SUITE A100 AUSTIN TX 78758 MANAGED TECHNOLOGY SERVICES 785625 46 13500 446992 3827251 24229537 1339949 28517280 TUITION AND FEES 611710 131702867 131702867 ROOM AND BOARD 611710 30520272 30520272 INTERCOLLEGIATE ATHLETICS 611710 4275707 4275707 OTHER AUXILIARY 611710 3719319 3694039 25280 2735464 2735464 172953629 16491033 -826110 17317143 2452259 1940757 511502 511502 80542 548982 -118022 203260024 40855 198607254 23788 4652770 17067 4669837 46751 4623086 103273 13500 52156 51117 51117 223194398 173008891 -205097 21873324 321479 321479 77751874 77751874 3578020 1048777 2264043 265200 61997767 53702780 5407523 2887464 5421675 4517003 644577 260095 12177546 9721196 2017437 438913 5027372 4188494 597699 241179 286311 286311 536258 536258 183533 183533 2558625 2558625 9183112 5538992 2961968 682152 1211783 749963 118445 343375 3636125 3039648 422445 174032 5801673 4273613 1372340 155720 1820052 197317 1622735 10434381 10109363 139912 185106 3148965 2472124 373438 303403 5011781 4907480 104301 14028810 12972047 1056763 MEAL PLAN EXPENSES 8517086 8517086 LIBRARY RESOURCES 1568672 1568672 UNIFORMS 983097 970052 13045 REPAIRS & MAINTENANCE 982837 950752 32085 19904307 18507035 1239065 158207 256073141 226025747 23952548 6094846 10373591 6724912 16779783 4567303 70936998 54604859 4722804 4321177 259932 265982 2848057 2483287 515569611 253757638 253619180 261811973 113276472 134671602 589129363 574540966 13327 12711 266448451 236391542 1328407958 1280396314 7529806 8318882 5179449 4823082 172704590 170521981 36348 35605 2981622 2772981 188431815 186472531 X 375162216 364312147 764813927 729611636 1139976143 1093923783 1328407958 1280396314 X -32878743 -13729613 555996 X X 0 1 X 1 1 1 X 26194545 23276048 83565475 45654957 28517280 207208305 26194545 23276048 83565475 45654957 28517280 207208305 68771286 138437019 13052566 11613577 24156439 6008540 18634799 73465921 607953 607953 141490 141490 281423669 840416726 0.49190 0.50110 X SCHEDULE A, PART I THE UNIVERSITY IS CLASSIFIED AS A PUBLIC CHARITY, A SCHOOL, IN ACCORDANCE WITH SECTION 170(B)(1)(A)(II) OF THE INTERNAL REVENUE CODE. HOWEVER, UNIVERSITY HAS ELECTED TO FOLLOW THE "SPECIAL RULE" FOR REPROTING COSNTRIBUTIONS ON SCHEDULE B WHICH PROVIDES THAT 501(C)(3) ORGANIZATIONS THAT SATISFY 33 1/3% SUPPORT TESTS FOR SECTION 509(A)(1) AND 170(B)(1)(A)(VI) NEED ONLY DISCLOSE ON SCHEDULE B GIFTS FROM ANY ONE CONTRIBUTOR THAT TOTAL THE GREATER OF (1) $5,000 OR (2) 2% OF TOTAL CONTRIBUTIONS, GIFTS, GRANTS AND SIMILAR AMOUNTS RECEIVED. THEREFORE, THE UNIVERSITY HAS CHECKED SCHEDULE A, PART I, BOX 2 AND COMPLETED THE SUPPORT SCHEDULE IN PART II TO SUBSTANTIATE THAT IT MEETS THE PUBLIC SUPPORT TEST. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6 443264 486150 3226649 1 1 3749468 X X 0 0 1 X 812285408 12814106 2074962 17535644 19774237 2375046 787489549 838971213 10589857 -2461455 15279845 17230464 2303898 812285408 670014075 6299124 197145647 13733787 17925394 2828452 838971213 694271736 11819457 3561094 14361697 19951585 5324930 670014075 702854866 15062542 16900125 12533250 24647089 3365458 694271736 0.16229 0.62402 0.21369 1 1 1 36897796 36897796 365825586 154472818 211352768 81125878 75956232 5169646 31720351 23328588 8391763 261811973 CLOSELY HELD EQUITY INTERESTS 939 F EQUITY SECURITIES 214118884 F FIXED INCOME 19588197 F HEDGED STRATEGIES 110029475 F PRIVATE CAPITAL 147372361 F PRIVATE CAPITAL 5900000 C PRIVATE CREDIT 8446343 F REAL ESTATE FUNDS 68182109 F REAL ESTATE 902658 C 574540966 CSV LIFE INSURANCE 2018648 DEPOSITS 307040 RIGHT OF USE ASSET 183537 EQUITY INTEREST IN HOLLINGSWORTH 168147788 FUNDS HELD IN TRUST FOR BOND ISSUED 60308324 FUNDS HELD IN TRUST BY OTHERS 5426205 236391542 GOVERNMENT ADVANCES FOR STUDENT LOANS 7397 ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 1047380 ASSET RETIREMENT OBLIGATION 1447054 LEASE OBLIGATIONS 271150 2772981 X 134941072 -13729613 -73958001 -87687614 222628686 2558625 -1992913 565712 223194398 179697281 1992913 1992913 177704368 2558625 75810148 78368773 256073141 PART III, LINE 4: THE UNIVERSITY HAS A COLLECTION OF DECORATIVE AND FINE ARTS MATERIALS THAT IS BOTH EXTENSIVE AND DIVERSE. COMPRISED OF OVER 2,500 ITEMS, MANY PIECES ARE DISPLAYED THROUGHOUT CAMPUS, WHILE OTHERS ARE PRESERVED. THE OBJECTS HAVE BEEN GENEROUSLY DONATED TO FURMAN. THEY CONNECT THE UNIVERSITY TO THE WIDER WORLD AND ARE GATEWAYS TO STUDYING MANY DIFFERENT TIME PERIODS, CULTURES AND DISCIPLINES. THE COLLECTION'S MAIN PURPOSES ARE PRESERVATION OF THE OBJECTS FOR FUTURE GENERATIONS, EDUCATIONAL OPPORTUNITIES AND EXHIBITS. PART IV, LINE 2B: AGENCY FUNDS ARE HELD TO PROVIDE BANKING ABILITY FOR SMALL STUDENT CLUBS. THE UNIVERSITY ALSO PROVIDES BANKING FOR PROFESSIONAL ORGANIZATIONS THAT ARE INDIRECTLY RELATED TO THE UNIVERSITY. EXAMPLE: SACUBO PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF MORE THAN 1,000 SEPARATE FUNDS ESTABLISHED OVER MANY YEARS FOR SCHOLARSHIPS, PROFESSORSHIPS, LECTURESHIPS, ACADEMIC PROGRAMS AND AWARDS, BUILDING MAINTENANCE, AND GENERAL INSTITUTIONAL SUPPORT. THE OVERALL FINANCIAL OBJECTIVE OF THE ENDOWMENT IS TO PRESERVE AND ENHANCE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER OF THE FUND IN PERPETUITY. THE BOARD OF TRUSTEES DESIGNATES ONLY A PORTION OF THE UNIVERSITY'S CUMULATIVE INVESTMENT RETURN FOR SUPPORT OF CURRENT OPERATIONS; THE REMAINDER IS RETAINED TO SUPPORT OPERATIONS OF FUTURE YEARS AND TO OFFSET POTENTIAL MARKET DECLINES. THE UNIVERSITY EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO MAINTAIN ITS PURCHASING POWER BY GROWING AT A RATE EQUAL TO OR GREATER THAN PLANNED PAYOUTS. ADDITIONAL REAL GROWTH WILL BE PROVIDED THROUGH NEW GIFTS AND ANY EXCESS INVESTMENT RETURNS. 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 X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, CERTAIN INCOME UNRELATED TO ITS EXEMPT FUNCTION IS SUBJECT TO INCOME TAXATION. THE UNIVERSITY'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE UNIVERSITY, 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 THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2023 AND 2022 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION NET INCOME INCLUDED IN CONSOLIDATED REVENUE 1,296,151. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 230,041. CHANGE IN CSV LIFE INSURANCE 51,722. OTHER 274,233. FINANCIAL AID NET WITH REVENUE -75,951,638. REIMBURSED EXPENSES 141,490. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -52,156. RENTAL EXPENSES -1,940,757. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,940,757. FUNDRAISING EXPENSES 52,156. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NET WITH REVENUE 75,951,638. REIMBURSED EXPENSES -141,490. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S NONDISCRIMINATION POLICY STATEMENT IS ACCESSIBLE ON ALL PAGES OF THE UNIVERSITY'S WEBSITE FOR PROSPECTIVE STUDENTS, EMPLOYMENT APPLICANTS AND THE GENERAL PUBLIC. ADDITIONALLY, THE NONDISCRIMINATION POLICY STATEMENT IS INCLUDED IN ALL BROCHURES, CATALOGS, NEWSPAPER ADVERTISEMENTS AND OTHER WRITTEN COMMUNICATION WITH THE PUBLIC RELATED TO STUDENT ADMISSIONS, PROGRAM AND SCHOLARSHIPS, AS WELL AS EMPLOYMENT. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY PARTICIPATES IN THE FEDERAL PELL GRANT PROGRAM, THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS PROGRAM, AND THE FEDERAL COLLEGE WORK STUDY PROGRAM. ADDITIONALLY, THE UNIVERSITY HAS RECEIVED A NUMBER OF GRANTS FROM THE NATIONAL SCIENCE FOUNDATION, THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SCIENCES, AND THE DEPARTMENT OF DEFENSE. THE UNIVERSITY ALSO RECEIVED GOVERNMENT GRANTS UNDER THE CARES ACT AS PART OF THE HIGHER EDUCATION EMERGENCY RELIEF FUND ADMINISTERED BY THE DEPARTMENT OF EDUCATION. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 139476621 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 4853202 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 49683380 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT RECRUITING 28937 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT RECRUITING 56019 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 561796 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 4880833 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 116716 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY AWAY PROGRAMS 198875 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES LAB SUPPLIES 412 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES LICENSE FEE 7500 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES PROFESSIONAL FEES 12134 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STREAMING SUBSCRIPTION FEE 5500 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES CONFERENCE FEES 809 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES POTTERY 2830 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES BOOK PRINTING 4073 0 0 0 0 0 0 199657504 232133 199889637 1 0 1 1 1 0 PART I, LINE 2: FURMAN UNIVERSITY IS NOT A GRANTMAKER AS REFERENCED IN LINE 1. FURMAN UNIVERSITY PROVIDES FUNDING TO FACULTY AND STUDENTS FOR RESEARCH AND OTHER PROJECTS. EXPENSES MUST BE SUBSTANTIATED UNDER THE ACCOUNTABLE PLAN TO ENSURE PROPER USE OF FUNDS. PART I, LINE 3: EXPENDITURES ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE VALUE OF INVESTMENTS IS BASED ON THE FMV AT THE END OF THE FISCAL YEAR. PART III ACCOUNTING METHOD: VINCE PERONE CLASSIC 65760 3500 62260 400 7245 11294 5724 HOOPS AND HEELS FUNDRAISER 51013 10000 41013 489 6714 18014 2276 116773 13500 103273 889 13959 29308 8000 52156 51117 1 UPCOUNTRY HISTORY MUSEUM 340 BUNCOMBE STREET GREENVILLE SC 29601 570833796 501(C)(3) 100000 0 0 N/A OPERATING SUPPORT GREENVILLE ARENA DISTRICT 650 NORTH ACADEMY STREET GREENVILLE SC 29601 576007739 STATE OF SC 75000 0 0 N/A SPONSORSHIP THE GREENVILLE DRIVE LLC 945 S MAIN STREET GREENVILLE SC 29601 043672609 55000 0 0 N/A SPONSORSHIP EMPIRE MOCK TRIAL ASSOCIATION INC 655 15TH STREET NW SUITE 800 WASHINGTON DC 20005 260150254 501(C)(3) 15000 0 0 N/A SPONSORSHIP SOUTH CAROLINA CHARITIES INC 104 S MAIN STREET SUITE 110 GREENVILLE SC 29601 571110542 501(C)(3) 12000 0 0 N/A SPONSORSHIP GREENVILLE ARTS FESTIVAL 101B AUGUST STREET GREENVILLE SC 29601 582676608 501(C)(3) 10000 0 0 N/A SPONSORSHIP OUR UPSTATE SC 150 EXECUTIVE CENTER DRIVE SUITE 202 GREENVILLE SC 29615 451842000 501(C)(3) 10000 0 0 N/A SPONSORSHIP UPSTATE SC ALLIANCE INC 3 RESEARCH DRIVE SUITE 230 GREENVILLE SC 29607 571095229 501(C)(6) 10000 0 0 N/A SPONSORSHIP FALL FOR GREENVILLE 206 S MAIN STREET GREENVILLE SC 29601 570876594 501(C)(3) 7500 0 0 N/A SPONSORSHIP UNITED MINISTRIES INC 606 PENDLETON STREET GREENVILLE SC 29601 570511977 501(C)(3) 6695 0 0 N/A SPONSORSHIP 8 2 UNDERGRADUATE SCHOLARSHIPS 2067 61562427 0 N/A N/A ATHLETIC SCHOLARSHIPS 285 12591075 0 N/A N/A HEERF STUDENT AID GRANTS 365 1325086 0 N/A N/A GRADUATE SCHOLARSHIPS 53 473049 0 N/A N/A RESEARCH, INTERNSHIPS, & FELLOWSHIP STIPENDS 650 1737836 0 N/A N/A GRADUATE STIPENDS 7 62400 0 N/A N/A PART I, LINE 2: FURMAN PROVIDES SCHOLARSHIPS AND FINANCIAL AID TO INDIVIDUALS IN THE UNITED STATES TO ATTEND THE UNIVERSITY. THE SCHOLARSHIPS AND AID FOR SUCH STUDENTS ARE AWARDED BASED ON NEED AND MERIT AND COVER THE COSTS OF TUITION, ROOM AND BOARD. THE SCHOLARSHIPS AND/OR FINANCIAL AID ARE AWARDED BASED ON INSTITUTIONAL POLICY AND STANDARDS SET FORTH BY THE DEPARTMENT OF EDUCATION AND THE STATE OF SOUTH CAROLINA. THE UNIVERSITY'S FINANCIAL AID DEPARTMENT MONITORS THE COMPLIANCE WITH SUCH REGULATIONS. THE SCHOLARSHIP AND/OR FINANCIAL AID IS APPLIED BY THE FINANCIAL AID DEPARTMENT DIRECTLY AGAINST THE STUDENT'S ACCOUNT WITH THE UNIVERSITY AS A REDUCTION IN FEES. AS SUCH, THE GRANT CAN ONLY BE USED FOR ITS INTENDED PURPOSE (I.E. COST OF ATTENDANCE) AND CANNOT BE DIVERTED FROM THIS USE. OTHER TYPES OF GRANTS PROVIDED CONSIST OF RESEARCH, INTERNSHIPS, OR FELLOWSHIP GRANTS TO STUDENTS. SUCH GRANTS ARE GIVEN AND MONITORED BY THE ACADEMIC DEPARTMENT GIVING THE GRANT OR THE UNDERGRADUATE RESEARCH AND INTERNSHIP DEPARTMENT. IN FY 2023, THE UNIVERSITY ALSO DISTRIBUTED FUNDS UNDER THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF"). THE UNIVERSITY AWARDED AN AUTOMATIC $300 TO ALL ELIGIBLE STUDENTS. ADDITIONALLY, STUDENTS WHO MET ELIGIBILITY REQUIREMENTS BUT WISHED TO REQUEST ADDITIONAL FUNDS ABOVE THE AUTOMATIC PAYMENT APPLIED FOR HEERF ASSISTANCE THROUGH THE STUDENT EMERGENCY FUND APPLICATION PROCESS IF THEY HAD RELEVANT, DOCUMENTED, AND UNREIMBURSED EXPENSES DUE TO COVID-19. SPONSORSHIPS PAID TO ORGANIZATIONS ARE MADE UNDER WRITTEN AGREEMENTS BETWEEN THE PARTIES AND SUPPORT COMMUNITY EVENTS AND PROVIDE A PRESENCE FOR FURMAN IN THE AREA. COMMUNITY ENGAGEMENT IS A SIGNIFICANT ASPECT OF THE FURMAN ADVANTAGE. THESE SPONSORSHIPS WITH GREENVILLE BUSINESSES THEREFORE SERVE TO ADVANCE THE FURMAN ADVANTAGE FOR OUR STUDENTS AND THE COMMUNITY. X X X X 1 1 X X X 1 1 0 0 0 0 0 0 0 DR ELIZABETH DAVIS PRESIDENT 559385 0 0 0 299986 0 30573 0 6151 0 896095 0 0 0 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 369046 0 27000 0 1182 0 30815 0 19585 0 447628 0 0 0 SUSAN MADDUX VP FOR FINANCE & ADMINISTRATION 337311 0 7500 0 5566 0 30888 0 12026 0 393291 0 0 0 CLAYTON HENDRICKS HEAD FOOTBALL COACH 290425 0 0 0 6582 0 29883 0 19664 0 346554 0 0 0 THOMAS E EVELYN II VP FOR UNIVERSITY COMMUNICATIONS 245581 0 0 0 25199 0 26296 0 37813 0 334889 0 0 0 ROBERT KENNEY CHIEF INVESTMENT OFFICER 199107 0 70875 0 3508 0 28558 0 27506 0 329554 0 0 0 JASON DONNELLY VP FOR INTERCOLLEGIATE ATHLETICS 252423 0 14000 0 9058 0 26594 0 21637 0 323712 0 0 0 HEIDI MCCRORY VP FOR DEVELOPMENT 252309 0 0 0 1176 0 26342 0 24557 0 304384 0 0 0 CONNIE L CARSON VP FOR STUDENT LIFE 247124 0 0 0 1164 0 25075 0 6731 0 280094 0 0 0 GEORGE SHIELDS PROFESSOR OF CHEMISTRY 231294 0 0 0 9758 0 19794 0 18660 0 279506 0 0 0 KENNETH PETERSON VP ACADEMIC AFFAIRS & PROVOST (1/1/22 - 6/30/22) 216358 0 0 0 25642 0 22505 0 5841 0 270346 0 0 0 RICARD MEADE FORMER MEN'S HEAD LACROSSE COACH 0 0 0 0 261512 0 0 0 0 0 261512 0 0 0 BETH PONTARI INTERIM VP FOR ACADEMIC AFFAIRS & PROVOST 197359 0 0 0 3046 0 20881 0 17469 0 238755 0 0 0 JEREMY CASS DEAN OF FACULTY 183917 0 0 0 10831 0 19250 0 5625 0 219623 0 0 0 JOHN WHEELER ASSOC PROVOST FOR INTEGRATIVE SCIENCE 169675 0 0 0 1498 0 17191 0 29327 0 217691 0 0 0 JEFF REDDERSON ASSOCIATE VP FOR FACILITIES SERVICES 146201 0 0 0 26301 0 18202 0 9607 0 200311 0 0 0 W MICHALE HENDRICKS VP FOR ENROLLMENT MGMT (1/1/22 - 7/4/22) 160300 0 0 0 12648 0 15114 0 10697 0 198759 0 0 0 MEREDITH GREEN GENERAL COUNSEL 146246 0 0 0 19181 0 9238 0 22289 0 196954 0 0 0 ELIZABETH SEMAN CHIEF OF STAFF 173897 0 0 0 1690 0 17725 0 394 0 193706 0 0 0 DAVID P STEINOUR CHIEF INFORMATION OFFICER (1/1/22-4/29/22) 116296 0 0 0 0 0 9374 0 207 0 125877 0 0 0 PART I, LINE 1A A COMPANION HAS TRAVELED WITH BOTH THE PRESIDENT, ELIZABETH DAVIS, AND THE MEN'S BASKETBALL COACH, BOB RICHEY. TO THE EXTENT THE TRAVEL WAS PERSONAL IN NATURE SUCH AMOUNTS WERE INCLUDED IN TAXABLE INCOME. THE PRESIDENT OF THE UNIVERSITY AND HER FAMILY RESIDE AT WHITE OAKS WHICH IS THE OFFICIAL RESIDENCE OF THE PRESIDENT. THE PRESIDENT IS REQUIRED TO LIVE AT WHITE OAKS AS A CONDITION OF HER EMPLOYMENT. THE RESIDENCE IS OWNED AND MAINTAINED BY THE UNIVERSITY. CLEANING, MAINTENANCE, AND, GROUNDSKEEPING SERVICES ARE PROVIDED BY THE UNIVERSITY FOR THE PUBLIC AREAS OF THE RESIDENCE ONLY. THE PRESIDENT HOSTS UNIVERSITY EVENTS AT WHITE OAKS AS WELL. ELIZABETH DAVIS AND JASON DONNELLY WERE PROVIDED WITH A CLUB MEMBERSHIP. TO THE EXTENT THE DUES WERE CONSIDERED PERSONAL, THE AMOUNTS WERE INCLUDED IN TAXABLE INCOME OR REIMBURSED TO THE UNIVERSITY. OTHERWISE, THE DUES ALLOW THE PRESIDENT TO MEET WITH DONORS AND OTHER SUPPORTERS OF THE UNIVERSITY AT THE CLUB. FURMAN POLICY GOVERNS THE NATURE AND TYPE OF ALLOWABLE EXPENDITURES AND PAYMENTS, INCLUDING REQUIREMENTS TO PROVIDE SUPPORTING DOCUMENTATION DETAILING THE TRANSACTION AND BUSINESS PURPOSE OF ANY APPROVED EXPENDITURE. PART I, LINES 4A-B NAME: RICARD MEADE, DESCRIPTION: SEVERANCE AGREEMENT, CURRENT YEAR AMOUNT: $261,512. PLAN DESCRIPTION: SEVERANCE AGREEMENT FOR FORMER MEN'S LACROSSE COACH UNTIL JUNE 30, 2023 NAME: ELIZABETH DAVIS, DESCRIPTION: VESTED 457(F) SUPPLEMENTAL RETIREMENT PLAN, CURRENT YEAR AMOUNT: $278,310. PLAN DESCRIPTION: 457(F) SUPPLEMENTAL RETIREMENT PLAN PART I, LINE 7: THE BONUSES RECEIVED BY CERTAIN OFFICERS, KEY EMPLOYEES, OR HIGHLY COMPENSATED EMPLOYEES WERE PAYMENTS FOR MERIT AND NOT CONTINGENT ON THE REVENUE OR NET EARNINGS OF THE UNIVERSITY OR RELATED ORGANIZATION. A SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 8373031UL 2015-08-13 68432003 REFUNDING AND CAPITAL 0 0 0 B SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2021-09-22 35830000 REFUNDING OF 2006B AND 2010 BOND ISSUES 0 0 0 C SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031D42 2022-01-26 76277862 CAPITAL 0 0 0 A 3270000 68432003 659117 25001055 42771831 2017 0 1 1 1 B 3005000 35830000 219844 35610156 2012 1 1 1 1 C 76297393 479628 588703 14920738 60308324 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2018 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY (F) DESCRIPTION OF PURPOSE: REFUNDING 2006B AND 2010 BOND ISSUES SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2018 SCHEDULE K, PART II, LINE 3, COL C: THE AMOUNT SHOWN AS TOTAL PROCEEDS OF ISSUE IN PART II IS HIGHER THAN THE AMOUNT IN PART I DUE TO INVESTMENT EARNINGS ON UNSPENT FUNDS. NA DEPENDENT OF TRUSTEE 10000 DISCOUNTED TUITION EDUCATION CHARLES DAVIS SPOUSE OF UNIVERSITY PRESIDENT 53513 COMPENSATION 0 X 15062 COST X 1 9256 COST X 44 732079 FMV X 1 9998 FMV X LAB EQUIPMENT 1 562671 COST X MUSICAL INSTRUMENTS 1 4800 COST X MUSICAL SCORES 1 4500 APPRAISED VALUE X GIFT 1 1583 COST 0 0 1 0 PART I, COLUMN (B): FURMAN UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED OF EACH TYPE IN ACCORDANCE WITH THE UNIVERSITY'S RECORDKEEPING PRACTICES. FORM 990, PART VI, SECTION A, LINE 1A THERE SHALL BE AN EXECUTIVE COMMITTEE, OF WHICH THE MEMBERS SHALL BE THE CHAIR OF THE BOARD, THE VICE CHAIR OF THE BOARD (WHO SHALL SERVE AS THE CHAIR OF THE EXECUTIVE COMMITTEE), THE RESPECTIVE CHAIRS OF THE OTHER STANDING COMMITTEES, UP TO THREE (3) "AT LARGE" TRUSTEES, AND THE PRESIDENT OF THE UNIVERSITY (WITH THE LATTER BEING AN EX OFFICIO, NON-VOTING MEMBER). THE SPECIFIC NUMBER OF "AT LARGE" TRUSTEES TO BE APPOINTED AS MEMBERS OF THE EXECUTIVE COMMITTEE FOR A PARTICULAR FISCAL YEAR SHALL BE DETERMINED ANNUALLY BY THE BOARD (ACTING WITH DUE CONSIDERATION OF ANY RECOMMENDATION THEREON FROM THE COMMITTEE ON TRUSTEESHIP) AT A MEETING HELD PRIOR TO THE BEGINNING OF SUCH FISCAL YEAR. DURING THE INTERIM BETWEEN MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO MAKE DECISIONS AND TAKE ACTIONS ON BEHALF OF THE BOARD, AND TO DO ALL ACTS AND PERFORM ALL DUTIES AND SERVICES NECESSARY TO THE OPERATION OF THE UNIVERSITY; PROVIDED THAT THE EXECUTIVE COMMITTEE (I) SHALL REPORT ALL SUCH ACTIONS TO THE BOARD, AT THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD, FOR THE BOARD'S REVIEW, CRITICISM AND ADVICE, AND WHEN AND IF NECESSARY OR PRUDENT, FOR THE BOARD'S RATIFICATION; (II) MAY NOT ELECT, APPOINT OR REMOVE TRUSTEES OR FILL VACANCIES ON THE BOARD OR ON ANY BOARD COMMITTEE (UNLESS THE LATTER IS PERMITTED PURSUANT TO SECTION 1(E)); (III) MAY NOT APPROVE OR DEFINITIVELY RECOMMEND THE DISSOLUTION OF THE UNIVERSITY OR THE SALE, PLEDGE OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE UNIVERSITY'S ASSETS; (IV) MAY NOT AUTHORIZE DISTRIBUTIONS; AND (V) MAY NOT ADOPT, AMEND OR REPEAL THE UNIVERSITY'S ARTICLES OF INCORPORATION OR THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE UNIVERSITY'S AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWED THE PREPARED FORM 990 PRIOR TO FILING WITH THE IRS. SPECIFIC ISSUES AND/OR QUESTIONS THAT AROSE DURING THE REVIEW PROCESS WERE ADDRESSED. THE PUBLIC DISCLOSURE COPY OF FORM 990 WAS PROVIDED TO THE REMAINING VOTING MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY FOR THE BOARD OF TRUSTEES IS INCLUDED IN SECTION 9 OF THE FURMAN UNIVERSITY BY-LAWS. EACH MEMBER OF THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM AT THE FIRST MEETING OF EACH ACADEMIC YEAR. EACH TRUSTEE SHALL DISCLOSE TO THE BOARD CHAIR ANY ADDITIONAL POTENTIAL CONFLICTS OF INTEREST AT THE EARLIEST PRACTICAL TIME. ADDITIONALLY, THE UNIVERSITY HAS A CONFLICT OF INTEREST POLICY FOR EMPLOYEES WITH EXECUTIVE OR ADMINISTRATIVE RESPONSIBILITIES AS THE UNIVERSITY RECOGNIZES THAT SUCH EMPLOYEES HAVE A DUTY OF LOYALTY AND FIDELITY IN CARRYING OUT THEIR RESPONSIBILITIES. THIS POLICY APPLIES TO THOSE EMPLOYEES DESIGNATED BY THE PRESIDENT AS HAVING EXECUTIVE OR ADMINISTRATIVE RESPONSIBILITIES. EACH SUCH EMPLOYEE IS REQUIRED, AT LEAST ANNUALLY, TO COMPLETE THE QUESTIONNAIRE. THIS QUESTIONNAIRE REQUIRES DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST AND IS ADMINISTERED BY THE HUMAN RESOURCES DEPARTMENT. NO TRUSTEE SHALL VOTE ON ANY MATTER IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST; AND THE CHAIR SHALL REPORT TO THE BOARD THAT THE TRUSTEE HAS REPORTED THE CONFLICT OF INTEREST PRIOR TO TAKING A VOTE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT IS DETERMINED AND APPROVED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE PRESIDENT'S EMPLOYMENT IS GUIDED BY A WRITTEN EMPLOYMENT CONTRACT SIGNED BY BOTH PARTIES. EXECUTIVE COMMITTEE MEETINGS ARE DOCUMENTED. FOR OTHER OFFICERS OF THE UNIVERSITY, A COMPENSATION COMPARABILITY STUDY IS DONE DURING THE SEARCH PROCESS. SUBSEQUENT YEARS' SALARY INCREASES ARE BASED ON THE UNIVERSITY'S STANDARD COMPENSATION ADJUSTMENT POOL FOR THE FISCAL YEAR AS APPROVED BY THE BOARD OF TRUSTEES DURING THE ANNUAL BUDGET PROCESS. THE DELIBERATION AND DECISION IS DOCUMENTED IN THE BOARD MINUTES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 FURMAN UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. ADDITIONALLY, THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS CAN BE FOUND ON THE FURMAN WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 230,041. CHANGE IN CSV LIFE INSURANCE 51,722. OTHER 274,233. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. FURMAN UNIVERSITY FOUNDATION 3300 POINSETT HIGHWAY GREENVILLE SC 29613 571061363 FOUNDATION SC 501(C)(3) LINE 12C, III-FI N/A 0 HOLLINGSWORTH FUNDS INC 124 VERDAE BOULEVARD GREENVILLE SC 29607 571003814 CHARITABLE SC 501(C)(3) LINE 12A, I N/A 0 CHARITABLE REMAINDER UNITRUSTS (4) SPLIT INTEREST SC T 0 CHARITABLE REMAINDER ANNUITY TRUST SPLIT INTEREST SC T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 SCHEDULE R, PART II HOLLINGSWORTH FUNDS, INC. IS A TAX-EXEMPT SUPPORTING ORGANIZATION UNDER SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE WHOSE PURPOSE IS TO SUPPORT FURMAN UNIVERSITY AND OTHER GREENVILLE, SOUTH CAROLINA BASED CHARITIES. FOR THE YEAR ENDED JUNE 30, 2023, INCOME DISTRIBUTION FROM THE HOLLINGSWORTH FUNDS, WHICH ARE REPORTED AS INVESTMENT RETURNS, WAS $4,902,981 AND PROVIDED FUNDING FOR THE HOLLINSWORTH SCHOLARS PROGRAM, TWO ENDOWED PROFESSORSHIPS IN THE DEPARTMENTS OF ECONOMICS AND BUSINESS AND ACCOUNTING, AND SPECIFIC NEEDS OF THOSE TWO DEPARTMENTS. FURMAN UNIVERSITY FOUNDATION OPERATES AS A NON PROFIT PUBLIC BENEFIT CORPORATION TO SERVE THE NEEDS AND INTEREST OF FURMAN UNIVERSITY.