2024-04-19T10:15:35-05:00 2023-06-30 440160260 FORVIS LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2022-07-01 570428046 EDUCATIONAL FOUNDATION OF USCL INC EDUC 8033137471 PO BOX 889 LANCASTER SC 29721 STEVE SHERRILL PRESIDENT 8033137471 2024-04-19 1 STEVE SHERRILL 999009999 1 AMY BIBBY P00445891 8282542254 2024-04-19 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z STEVE SHERRILL PO BOX 889 LANCASTER SC 29721 1690083 0 X N/A X 1963 SC TO SOLICIT, RECEIVE, MANAGE AND DISBURSE FUNDS FOR THE ADVANCEMENT OF THE INTERESTS OF THE UNIVERSITY OF SOUTH CAROLINA LANCASTER. 13 13 0 13 0 0 1053072 1301660 0 0 803473 335442 56337 52981 1912882 1690083 316602 369055 0 0 0 0 0 0 0 596957 753769 913559 1122824 999323 567259 17223901 18250361 2089483 1705954 15134418 16544407 THE MISSION OF THE EDUCATIONAL FOUNDATION OF UNIVERSITY OF SOUTH CAROLINA LANCASTER IS TO SOLICIT, RECEIVE, MANAGE AND DISBURSE FUNDS FOR THE ADVANCEMENT OF THE INTERESTS OF THE UNIVERSITY OF SOUTH CAROLINA LANCASTER. 0 0 973979 369055 52981 AID THE UNIVERSITY IN ACHIEVING ITS MISSION THROUGH THE ESTABLISHMENT/IMPLEMENTATION OF LONG-RANGE FUNDRAISING PROGRAMS. 973979 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 SC X DAVID TOLSON 8032868448 PO BOX 889 LANCASTER SC 29721 X STEVE SHERRILL PRESIDENT 1.00 X X 0 0 0 CHARLENE MCGRIFF PRESIDENT-ELECT 1.00 X X 0 0 0 DAVID TOLSON FINANCE CHAIR 1.00 X X 0 0 0 MARSHA PATTERSON SECRETARY 1.00 X X 0 0 0 BEVERLY ADAMS DIRECTOR 1.00 X 0 0 0 BOBBY BAILEY DIRECTOR 1.00 X 0 0 0 BOB COOK DIRECTOR 1.00 X 0 0 0 BOBBY LEGG DIRECTOR 1.00 X 0 0 0 RANDY NEWMAN DIRECTOR 1.00 X 0 0 0 PAMELA STEWART DIRECTOR 1.00 X 0 0 0 MELISSA THORNTON DIRECTOR 1.00 X 0 0 0 RICHARD WARRIN DIRECTOR 1.00 X 0 0 0 STEVE WILLIS DIRECTOR 1.00 X 0 0 0 BARRY FAILE DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 0 628589 673071 148589 1301660 153536 153536 9300 0 9300 9300 9300 181906 0 181906 181906 181906 MISCELLANEOUS 900099 43681 43681 43681 1690083 52981 0 335442 369055 369055 24148 24148 91850 91850 2700 2700 16605 2754 13851 148589 148589 80783 80783 207897 207897 18996 18996 CONSTRUCTION COSTS 162201 162201 1122824 973979 148845 0 125566 146385 12051 19004 775 10046171 3654357 6599711 6391814 9918964 11081275 566834 611883 17223901 18250361 18401 10140 2071082 1695814 2089483 1705954 X 6273660 6779359 8860758 9765048 15134418 16544407 17223901 18250361 567259 842730 0 X X 0 1 X 1 0 X 730798 717379 768987 938992 1153071 4309227 114960 114080 114080 148589 491709 730798 832339 883067 1053072 1301660 4800936 4800936 116349 234852 156498 122937 153536 784172 54926 45947 25812 47037 43681 217403 5802511 0.82740 0.82060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8848707 178387 1038504 222391 15200 81963 9746044 10516729 308205 -1647832 210415 17425 100555 8848707 7893665 202806 2676773 134827 36117 85571 10516729 7891297 130415 103870 143768 13282 74867 7893665 7787936 102412 214404 124075 15097 74283 7891297 1.00000 1 0 579218 579218 9265100 3452504 5812596 201853 201853 0 6391814 X 2532813 842730 842730 1690083 0 1690083 1122824 0 1122824 0 1122824 PART V, LINE 4: THE NET INCOME OF THE FOUNDATION'S ENDOWMENT FUNDS IS UTILIZED AS DIRECTED BY THE BOARD OF DIRECTORS OF THE FOUNDATION IN ACCORDANCE WITH THE ESTABLISHED PRIORITIES AND GIFT RESTRICTIONS FOR THE EXCLUSIVE BENEFIT OF THE UNIVERSITY OF SOUTH CAROLINA - LANCASTER. THESE USES INCLUDE BUT ARE NOT LIMITED TO: 1) SCHOLARSHIPS AND/OR FELLOWSHIPS 2) CHAIRS AND/OR PROFESSORSHIPS 3) GENERAL PROGRAM SUPPORT FOR VARIOUS UNIVERSITY DEPARTMENTS, COLLEGES, INSTITUTES AND OFFICES. PART X, LINE 2: THE FOUNDATION HAS BEEN GRANTED EXEMPTION FROM INCOME TAXES UNDER SECTION 501(C)3 OF THE INTERNAL REVENUE CODE AND ACCORDINGLY, NO PROVISION FOR INCOME TAX IS RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2023. 1 UNIVERSITY OF SOUTH CAROLINA-LANCASTER 476 HUBBARD DRIVE LANCASTER SC 29720 576001153 GOVTL 349852 19203 FMV FURNITURE SCHOLARSHIPS AND GRANTS 1 0 PART I, LINE 2: SCHOLARSHIPS ARE PROVIDED ON BEHALF OF THE GRANTEE DIRECTLY TO THE UNIVERSITY FOR APPLICATION AGAINST EDUCATIONAL EXPENSES. BUDDY FAILE SEE SUPPLEMENTAL STATEMENT 104581 EMPLOYMENT 0 SCHEDULE L, PART IV - ADDITIONAL INFORMATION BUDDY FAILE IS A FAMILY MEMBER OF BARRY FAILE, A DIRECTOR OF THE BOARD DURING THE REPORTING PERIOD. X RENTAL SPACE 1 148589 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B TREASURER REVIEWS TAX RETURN PRIOR TO FILING AND A COPY OF THE 990 IS EMAILED TO EACH BOARD MEMBER PRIOR TO FILING. BOARD MEMBERS ARE REQUESTED TO REVIEW THE FORM AND NOTIFY THE FOUNDATION PRIOR TO THE FORM DUE DATE IF THEY HAVE ANY COMMENTS OR CORRECTIONS TO THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION'S CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY TO BOARD MEMBERS AT A FULL BOARD MEETING. ATTACHED TO THE COPY OF THE CONFLICT OF INTEREST POLICY IS A SIGNATURE FORM FOR EACH BOARD MEMBER TO SIGN AND INDICATE THAT THEY HAVE READ, AND COMPLIED WITH, THE FOUNDATION'S CONFLICT OF INTEREST POLICY FOR THE YEAR. THE SIGNATURE FORMS ARE COLLECTED AND KEPT BY THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 IS PUBLICLY AVAILABLE FROM MANY SOURCES; GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS WOULD BE MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.