2025-05-15T09:07:27+00:00 2024-06-30 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-07-01 570967350 South Carolina Research Foundation SOUT 8037778411 915 Bull St Osborne Admin Bldg 202 Columbia SC 29208 Kelly Epting CFO 8037778411 2025-05-15 true true Amy Bibby P00445891 8282542254 2025-05-14 2023 2025-03-06 01:10:19Z Gamecock Ihub Kelly Epting 915 Bull St Osborne Admin Bldg 202 Columbia SC 29208 5859527 false X X 1991 SC the south carolina research foundation operates for the benefit of, or to carry out the purposes of, the university of south carolina. These activities include but are not limited to promoting, encouraging, and aiding scientific research and investigation. 9 6 0 0 0 0 0 0 5776984 5859527 0 0 0 0 5776984 5859527 0 0 0 0 113198 108824 0 0 0 5607829 5679567 5721027 5788391 55957 71136 3090852 2871569 2755292 2464870 335560 406699 the south carolina research foundation operates for the benefit of, or to carry out the purposes of, the university of south carolina. These activities include but are not limited to promoting, encouraging, and aiding scientific research and investigation. false false 5615891 5859527 the south carolina research foundation operates for the benefit of, or to carry out the purposes of, the university of south carolina. These activities include but are not limited to promoting, encouraging, and aiding scientific research and investigation. 5615891 true false false false false false false false false false false false false false false true false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 26 0 true 0 false false false false false false false false false false false false X 9 6 false false false false false true false true false false false true true true true true true true true true false SC X Kelly Epting CFO 8037777094 915 Bull St Suite 208 Columbia SC 29208 Kester Freeman Board Chair, Exec Director 1.0 X X 24000 0 0 Bhavna Vasudeva Director 1.0 X 0 0 0 Bob Quinn Director 1.0 X 0 0 0 Brenda Thames Director 1.0 X 0 0 0 David Black Director 1.0 X 0 0 0 Dick Jones USC Board of Trustee Member 1.0 X 0 0 0 Jason Caskey Education Foundation President 1.0 X 0 0 0 Julius Fridriksson USC VP for Research, nonvoting SCRF 1.0 36.5 X 0 463235 29700 Michael Amiridis USC President, nonvoting SCRF 1.0 36.5 X 0 318745 85281 Stephen Cutler USC Dean, College of Pharmacy 1.0 36.5 X 0 457762 29700 WILLIAM KIRKLAND EXECUTIVE DIRECTOR (THROUGH February 2024) 2.0 35.5 X 16124 306354 0 Kelly Epting CFO 5.6 31.9 X 0 227331 39647 40124 1773427 184328 0 false true false 2 0 Research Contracts 900099 5492060 5492060 Management Fees 900099 298925 298925 Other Program Service 900099 68542 68542 0 0 0 0 5859527 0 0 0 0 0 0 0 0 0 5859527 5859527 0 0 36997 36997 71827 71827 10406 10406 29980 29980 0 0 0 0 15376 15376 7914 7914 Research and Development 5615891 5615891 0 0 0 0 5788391 5615891 172500 0 964380 809563 472980 467939 0 0 1653492 1594067 0 0 0 0 0 0 0 3090852 2871569 586471 558275 2168821 1906595 0 0 0 2755292 2464870 X 335560 406699 335560 406699 3090852 2871569 71136 0 X false true X true true true X X X 1 University of South Carolina 576001153 2 true 0 5615891 1 0 5615891 true false false false false false false false false false false false false false false true true true X true true Schedule A, Part IV, Section D, Line 3 Supp. Org. Have Significant Voice In Investment Policies no investments are held by the organization. a portion of the organization's budget supports the activities of the supported organizations, and to the extent that expenditures needed to be revised or increased to maintain that support, such changes were made to the expenditures. Schedule A, Part IV, Section E, Line 2a Org. Activities Directly Further The Exempt Purposes substantially all the activity in the scrf pertained to supporting the university of south carolina research mission. all of scrf program services (sponsored awards to scrf and controlled by usc, $5.6 million) and 97% of its management and general expenses ($172K) were specific to usc sponsored programs and to support research personnel and activities at usc. This constitutes 99% of the scrf expenditures and revenue. Schedule A, Part IV, Section E, Line 2b Activities That One Or More Supp. Org. Engaged In one of the primary missions of any large state research university is to engage in research. usc engages in research directly with external sponsors and with the support of scrf. in some cases, sponsors prefer the organizational formation of scrf and scrf is able to accommodate them to the benefit of the external sponsor and usc. 5859527 0 0 5859527 0 0 5859527 5788388 0 0 5788388 0 0 5788388 X false false false false false false false false false Michael Amiridis USC President, nonvoting SCRF 0 318745 0 0 0 0 0 85281 0 0 0 404026 0 0 Stephen Cutler USC Dean, College of Pharmacy 0 457762 0 0 0 0 0 29700 0 0 0 487462 0 0 Julius Fridriksson USC VP for Research, nonvoting SCRF 0 352235 0 0 0 111000 0 29700 0 0 0 492935 0 0 WILLIAM KIRKLAND EXECUTIVE DIRECTOR (THROUGH February 2024) 16124 306354 0 0 0 0 0 0 0 0 16124 306354 0 0 Kelly Epting CFO 0 227331 0 0 0 0 0 39647 0 0 0 266978 0 0 Form 990, Part VI, Line 12a organization's written policies: the research foundation is a functionally integrated supporting organization to the university of south carolina. foundation policies regarding conflicts of interest, use of social clubs, travel, whistleblower provisions, etc. are consistent with those of the university. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body electing members of governing body. the president of the university of south carolina appoints an academic dean to serve on the board. additionally, the usc board of trustees also elects one member to serve on the board. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body the organization does not have a committee that acts on behalf of the governing body. Form 990, Part VI, Line 11b Review of form 990 by governing body 990 is created by CFO and reviewed by the Executive Director/Chair. This is first year we intend on sharing copy of 990 in advance with Board members. Form 990, Part VI, Line 12c Conflict of interest policy Annually conflict of interest statements are collected by the Board members. The amount of transactions is small, and the non-for-profit foundations/government agencies with which transactions occur are small so that review can be conducted monthly. Form 990, Part VI, Line 15a Process to establish compensation of top management official PROCESS FOR DETERMINING COMPENSATION FOR TOP MANAGEMENT OFFICIAL: THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF USC. THE BOARD CHAIR IS NOT COMPENSATED OR CONSIDERED A FOUNDATION EMPLOYEE. THE FOUNDATION PAYS THE CHAIR UNDER A CONTRACTUAL AGREEMENT. COMPENSATION IS VERY LOW. CHAIR KESTER FREEMAN RECEIVES $24K PER YEAR. EXECUTIVE DIRECTOR HAS 5% OF HIS COMPENSATION PAID BY THE FOUNDATION. ALL EMPLOYEES ARE LEASED IN PORTION BY THE UNIVERSITY TO THE FOUNDATION, AND SALARIES MUST BE ACCEPTABLE TO STATE OF SOUTH CAROLINA. Form 990, Part VI, Line 15b Process to establish compensation of other employees PROCESS FOR DETERMINING COMPENSATION FOR OTHER OFFICERS/EMPLOYEES: THE FOUNDATION DOES NOT HAVE EMPLOYEES OF ITS OWN; ALL EMPLOYEES ARE UNIVERSITY OF SOUTH CAROLINA EMPLOYEES. Form 990, Part VI, Line 19 Required documents available to the public The financial statements are posted on the foundations's website at https://sc.edu/about/offices_and_divisions/sponsored_awards_management/institutional_info/usc_business_information.php. All other documents are made available upon request. Form 990, Part XII, Line 2c The process has not changed from the prior year. University of South Carolina 208 Osborne Admin Columbia SC 29208 576001153 Education SC 501(c)(3) 2 NA false false false false false false false false false false false false true true true true true false false false