2025-04-15T13:33:39-05:00 2024-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2023-07-01 843970393 CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION INC CLEM 8646561289 PO BOX 1889 CLEMSON SC 296331889 M KAREN MCCAULEY PRESIDENT & CEO 8646561289 2025-04-08 1 1 BREE-ANN WEIDNER P01319397 8642333981 2023 2025-03-06 01:10:19Z STEPHEN F HUTCHINSON 155 OLD GVILLE HWY 105 CLEMSON SC 29631 6345373 0 X CLEMSON.EDU/GIVING/CUFOUNDATIONS/STRUCTURE/CULSF X 2019 SC THE CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION SUPPORTS CLEMSON UNIVERSITY THROUGH DEVELOPMENT ACTIVITIES ASSOCIATED WITH REAL PROPERTY AND ECONOMIC DEVELOPMENT. 11 11 0 11 0 0 1710332 289668 5595587 5961033 39368 94672 0 0 7345287 6345373 0 0 0 0 0 0 0 0 0 4333358 4880871 4333358 4880871 3011929 1464502 121798578 116425386 70396157 72298600 51402421 44126786 TO RECEIVE AND MANAGE REAL PROPERTY AND RELATED ASSETS FOR THE BENEFIT OF CLEMSON UNIVERSITY THROUGH ACTIVE DEVELOPMENT, LEASING AND MANAGEMENT AND TO SOLICIT GIFTS IN SUPPORT OF THIS PURPOSE. 0 0 4406846 5961033 REAL ESTATE MANAGEMENT AND DEVELOPMENT - DEVELOPMENT AND MANAGEMENT OF REAL ESTATE INCLUDING ACADEMIC AND INDUSTRIAL SPACE FOCUSED ON AUTOMOTIVE DESIGN AND ENGINEERING. THIS COMBINED ACADEMIC AND ECONOMIC DEVELOPMENT EFFORT IS IN DIRECT SUPPORT OF THE MISSION OF CLEMSON UNIVERSITY. 4406846 1 1 0 0 0 0 1 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 22 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 SC X X LISA MARCUS DIRECTOR ARO 8646561873 391 COLLEGE AVENUE STE 302 CLEMSON SC 29634 X X STEPHEN F HUTCHINSON CHAIR 2.00 1.00 X X 0 0 0 CHRISTOPHER J PERRI VICE CHAIR 2.00 2.00 X X 0 0 0 GEORGE J BULLWINKEL III DIRECTOR 1.00 1.00 X 0 0 0 J RUSS DAVIS DIRECTOR 1.00 1.00 X 0 0 0 DAVID E DUKES DIRECTOR 1.00 1.00 X 0 0 0 ANITA HARGETT DIRECTOR 1.00 1.00 X 0 0 0 DANIEL B PATTILLO JR DIRECTOR 1.00 2.00 X 0 0 0 MARK S RICHARDSON DIRECTOR 1.00 1.00 X 0 0 0 G GRAHAM SEGARS JR DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM C SMITH JR DIRECTOR 1.00 1.00 X 0 0 0 F BOGUE WALLIN DIRECTOR 1.00 1.00 X 0 0 0 M KAREN MCCAULEY PRESIDENT & CEO 3.00 2.00 X 0 0 0 REGINA STEELE TREASURER 3.00 1.00 X 0 0 0 JASON PRZYBYLA SECRETARY/ASST TREASURER 24.50 8.00 X 0 0 0 0 0 0 0 0 0 0 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 CUSTODIAL SERVICES 317647 DOVETAIL CONSTRUCTION 218 RICE STREET GREENVILLE SC 29605 CONSTRUCTION 243643 PROJECT ONE MASTER OWNERS ASSOCIATION PO BOX 2567 GREENVILLE SC 29602 PROPERTY MGMT. SERVICES 200152 SIGNAL 88 LLC PO BOX 8246 OMAHA NE 68108 SECURITY SERVICES 168073 COLLIERS INT'L OF SC HOLDINGS PO BOX 11610 COLUMBIA SC 29211 REAL ESTATE SERVICES 106594 5 289668 289668 RENTAL REVENUES 531110 5756417 5756417 RE SERVICES TO SUPPORT 531110 171888 171888 MANAGEMENT FEE 531310 30000 30000 DIRECT FINANCING LEASE 531310 2728 2728 5961033 94672 94672 6345373 5961033 0 94672 X 30472 30472 47513 47513 1109507 1099907 9600 1568 1568 5404 5404 1205190 1203039 2151 8497 8497 1637052 1637052 218892 25682 193210 138405 99697 38708 SHARED SERVICES 478371 310997 167374 4880871 4406846 474025 0 1503542 1189190 3358178 2697150 831884 1121807 13572238 2540002 11251128 11032236 95592648 91761592 9261198 8623411 121798578 116425386 1016647 1047260 86711 1706051 46201925 45665485 23090874 23879804 70396157 72298600 X 51402421 44126786 51402421 44126786 121798578 116425386 1464502 -8740137 0 X 0 1 X 1 0 X X X 1 CLEMSON UNIVERSITY 576000254 6 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 SCHEDULE A, PART IV, SECTION D, LINE 3: THE BYLAWS OF THE FOUNDATION PROVIDE THAT 3 OF ITS 11 DIRECTORS BE APPOINTED BY THE BOARD OF TRUSTEES OF CLEMSON UNIVERSITY. THE OFFICERS AND DIRECTORS MAINTAIN A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE OFFICERS AND TRUSTEES OF THE UNIVERSITY. EXAMPLES OF SUCH CLOSE AND CONTINUOUS WORKING RELATIONSHIP ARE (I) THE STATED PURPOSE OF THE CORPORATION IN ITS ARTICLES AND BYLAWS, (II) THE CORPORATION'S DEDICATION OF EXCLUSIVITY OF SUPPORT DURING ITS EXISTENCE AND UPON DISSOLUTION TO THE UNIVERSITY, AND (III) THE UNIVERSITY'S BOARD OF TRUSTEES ABILITY TO APPOINT DIRECTORS TO THE BOARD OF CULSF. THE CORPORATION'S BYLAWS ADDITIONALLY REQUIRE THE AFFIRMATIVE VOTE OF 2/3RDS OF ALL VOTING DIRECTORS FOR CERTAIN KEY DECISIONS. ALL THESE NOTICES AND APPROVALS GRANTED TO THE UNIVERSITY ARE DESIGNED TO ENSURE BOTH A CLOSE AND CONTINUOUS WORKING RELATIONSHIP BETWEEN THE ORGANIZATIONS AND THAT THE UNIVERSITY HAS A SIGNIFICANT VOICE IN THE USE OF THE INCOME AND ASSETS OF CULSF. SCHEDULE A, PART IV, SECTION E, LINE 2A: THE BYLAWS OF CULSF PROVIDE FOR THE OVERARCHING PURPOSE AND OBJECTIVE OF THE ORGANIZATION TO CARRY OUT THE PURPOSES OF CLEMSON UNIVERSITY. SECTION 2.1 OF THE BYLAWS SPECIFY THAT CULSF SHALL AT ALL TIMES BE OPERATED, EXCLUSIVELY FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF CLEMSON UNIVERSITY. IN ADDITION, IN SECTION 2.2 OF THE BYLAWS CULSF'S OBJECTIVES ARE CLEARLY DEFINED TO SUPPORT CLEMSON UNIVERSITY DIRECTLY AND/OR THROUGH THE CLEMSON UNIVERSITY FOUNDATION. SCHEDULE A, PART IV, SECTION E, LINE 2B: CULSF HAS BEEN ESTABLISHED, INDEPENDENTLY, TO SUPPORT THE UNIVERSITY IN EXECUTING ITS EDUCATIONAL AND RESEARCH MISSION OF PROMOTING TECHNOLOGICAL AND ECONOMIC GROWTH IN THE STATE AND IS ANTICIPATED TO BECOME AN INTEGRAL COMPONENT OF THE UNIVERSITY. DUE TO LEGAL AND PRACTICAL CONSTRAINTS ON THE UNIVERSITY, CERTAIN INNOVATIVE RESEARCH AND TECHNOLOGY DEVELOPMENT MODELS WILL BE MORE READILY EXECUTABLE BY CULSF. IT IS ANTICIPATED THAT CULSF WILL BE WELL-POSITIONED TO PURSUE STRATEGIC ALLIANCES, JOINT VENTURES, AND OTHER COLLABORATIONS WITH BOTH NOT-FOR-PROFIT AND FOR-PROFIT ENTITIES WHO MAY NOT WISH TO PARTNER DIRECTLY WITH STATE AGENCIES. THESE ACTIVITIES DIRECTLY FURTHER THE UNIVERSITY'S EDUCATIONAL, RESEARCH AND DEVELOPMENT MISSIONS, AND MANY OF THESE ARE ACTIVITIES THAT, BUT FOR CULSF'S INVOLVEMENT, WOULD NORMALLY BE ENGAGED IN BY THE UNIVERSITY ITSELF. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 754.00 0 0 0 1 1 104.00 500 8570067 8570067 4233563 1928611 2304952 394779 380446 14333 19514 19514 0 354315 211431 142884 11032236 REAL PROPERTY 91761592 C 91761592 DIRECT FINANCING LEASE 7871859 DEVELOPMENT COSTS 751552 8623411 DUE TO CLEMSON UNIVERSITY FDTN. 23594295 UNEARNED REVENUE 144834 DEPOSITS HELD FOR OTHERS 140675 23879804 X -2394764 -8740137 -8740137 6345373 0 6345373 4880871 0 4880871 0 4880871 PART II, LINE 9: THROUGH JUNE 30, 2017, INCLUDED IN THE LAND WAS 853.53 ACRES OF TIMBERLAND IN CAMDEN, SOUTH CAROLINA THAT HAD AN APPRAISED VALUE OF $7,750,000. THE FOUNDATION SOLD APPROXIMATELY 100 ACRES OF THE LAND DURING THE YEAR ENDED JUNE 30, 2018, RESULTING IN 754.09 REMAINING ACRES OF TIMBERLAND WITH AN APPRAISED VALUE OF $7,493,067. THE FOUNDATION HAS ASSIGNED A CONSERVATION EASEMENT REQUIRING THE LAND REMAIN IN ITS UNDEVELOPED STATE EXCEPT FOR CONSTRUCTION, OPERATION, AND MANAGEMENT OF FACILITIES FOR EDUCATIONAL PURPOSES. AT JUNE 30, 2024 AND 2023, THE MARKET VALUE WAS COMPRISED OF LAND AT $1,936,067 AND A CONSERVATION EASEMENT AT $5,557,000 BOTH OF WHICH ARE INCLUDED IN LAND. PART X, LINE 2: THE FOUNDATION'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE FOUNDATION, 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 THAT THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2024 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. FORM 990, PART VI, SECTION A, LINE 7A THREE DIRECTORS SHALL BE APPOINTED BY THE BOARD OF TRUSTEES OF CLEMSON UNIVERSITY AND TWO DIRECTORS SHALL BE APPOINTED BY THE BOARD OF DIRECTORS OF CLEMSON UNIVERSITY FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS SENT TO ALL BOARD MEMBERS FOR REVIEW AND COMMENT PRIOR TO FILING. IT IS DISCUSSED AND REVIEWED IN DEPTH BY THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND OFFICERS ARE REQUIRED TO ANNUALLY COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT DISCLOSING ANY INTERESTS WHICH MAY BE CONSIDERED AS A CONFLICT RELATIVE TO BUSINESS DEALINGS OR BOARD ACTIONS. THESE ANNUAL STATEMENTS ARE REVIEWED AND ANY CONFLICTS ACKNOWLEDGED. IN THE EVENT OF A CONFLICT, THE INDIVIDUAL INVOLVED WILL ABSTAIN FROM BOARD ACTIONS WHERE CONFLICTS ARE DEEMED TO BE PRESENT. REVIEW OF ANY POTENTIALLY CONFLICTED BUSINESS DEALINGS IS PERFORMED TO ENSURE APPROPRIATENESS AND 'ARM'S LENGTH' NEGOTIATIONS AND PRICING. FORM 990, PART VI, SECTION B, LINE 15 CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION HAS NO EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S WEBSITE IS (WWW.CLEMSON.EDU/GIVING/CUFOUNDATIONS/STRUCTURE/CULSF/). THIS WEBSITE DISPLAYS LINKS TO GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, IRS FORM 990 AND THE CONFLICT OF INTEREST POLICY. FORM 990, PART VII, HOURS FOR RELATED ORGANIZATIONS: THE FOLLOWING INDIVIDUALS RECEIVED COMPENSATION FROM CLEMSON UNIVERSITY FOUNDATION ("CUF"). CUF IS A RELATED ORGANIZATION OF CLEMSON UNIVERSITY BUT NOT CULSF. THEREFORE, THEIR HOURS RELATED TO CUF HAVE NOT BEEN REPORTED ON THIS RETURN IN THE BOX FOR HOURS FOR RELATED ORGANIZATIONS BUT THESE INDIVIDUALS GENERALLY WORK 37.5 HOURS PER WEEK IN TOTAL. - M KAREN MCCAULEY - REGINA STEELE TRAVIS - JASON PRZYBYLA FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 822,122. MANAGEMENT AND GENERAL EXPENSES 9,600. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 831,722. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 277,785. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 277,785. LICAR LLC 5 RESEARCH DRIVE GREENVILLE SC 29607 261304801 REAL ESTATE DEVELOPMENT SC 5349680 91797798 CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION LICAM LLC 5 RESEARCH DRIVE GREENVILLE SC 29607 261304847 PROPERTY MANAGEMENT SC 171888 51376 CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION CULSF ONE 155 OLD GREENVILLE HIGHWAY 105 CLEMSON SC 29631 371704145 PROPERTY MANAGEMENT SC 378851 8162957 CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION CULSF TWO 155 OLD GREENVILLE HIGHWAY 105 CLEMSON SC 29631 843558628 PROPERTY MANAGEMENT SC 0 0 CLEMSON UNIVERSITY LAND STEWARDSHIP FOUNDATION CLEMSON UNIVERSITY G06 SIKES HALL CLEMSON SC 29634 576000254 RESEARCH UNIVERSITY SC 170(C)(1) N/A 0 CLEMSON UNIVERSITY REAL ESTATE FOUNDATION PO BOX 1889 CLEMSON SC 296331889 570933257 RECEIVES, MANAGES, AND INVESTS GIFTS OF REAL ESTATE FOR CU AND CUF SC 501(C)(3) LINE 12A, I CLEMSON UNIVERSITY AND CLEMSON UNIVERSITY FOUNDATION 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 CLEMSON UNIVERSITY J 1688581 BOOK CLEMSON UNIVERSITY L 171888 BOOK CLEMSON UNIVERSITY O 478371 BOOK