2022-05-16T15:12:43-05:00 2021-06-30 560574444 CHERRY BEKAERT LLP 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2020-07-01 570314395 FURMAN UNIVERSITY FURM 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 SUSAN MADDUX VP FINANCE & ADMINISTRATION 8642943496 2022-05-16 1 SUSAN MADDUX 999009999 AMANDA ADAMS P00748038 8642333981 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DR ELIZABETH DAVIS 3300 POINSETT HIGHWAY GREENVILLE SC 29613 340606488 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. 30 27 2329 0 -1028382 0 23276048 83565475 169959276 153333893 13380096 65376898 1461843 1317571 208077263 303593837 67254157 64628232 0 0 94226623 90282647 0 0 4852061 71613336 58758211 233094116 213669090 -25016853 89924747 1049847532 1291963279 118690023 118910395 931157509 1173052884 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 139345235 64628232 121878171 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. 26678555 1753616 STUDENT SERVICES INCLUDES INTERCOLLEGIATE ATHLETICS, INTRAMURAL AND CLUB SPORTS, ENROLLMENT MANAGEMENT, STUDENT GOVERNMENT AND A LARGE VARIETY OF STUDENT ORGANIZATIONS, SERVICES AND ACTIVITIES. 20115272 29622576 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. 186139062 1 1 0 0 0 1 0 1 1 1 1 1 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 3231 0 1 2329 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 30 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 SC X X AMY ECKLUND 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 DR ELIZABETH DAVIS PRESIDENT 40.00 0.00 X 498748 0 42232 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 40.00 0.00 X 383693 0 52026 MICHAEL HENDRICKS VP ENROLLMENT MANAGEMENT 40.00 0.00 X 280502 0 50746 CLAYTON HENDRIX MEN'S HEAD FOOTBALL COACH 40.00 0.00 X 269462 0 49644 DAVID P STEINOUR CHIEF INFORMATION OFFICER 40.00 0.00 X 270492 0 31766 HEIDI MCCRORY VP DEVELOPMENT 40.00 0.00 X 233595 0 63573 RICHARD MEADE MEN'S HEAD LACROSSE COACH 40.00 0.00 X 275905 0 20327 JASON DONNELLY ATHLETICS DIRECTOR 40.00 0.00 X 249593 0 46447 KENNETH PETERSON VP FOR ACADEMIC AFFAIRS & PROVOST 40.00 0.00 X 259492 0 35884 THOMAS E EVELYN II VP UNIVERSITY COMMUNICATIONS 40.00 0.00 X 228550 0 64944 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 40.00 0.00 X 233096 0 43777 SUSAN MADDUX VP FINANCE & ADMINISTRATION 40.00 2.00 X 237905 0 35923 GEORGE SHIELDS CHEMISTRY PROFESSOR 40.00 0.00 X 210278 0 40859 CONNIE L CARSON VP STUDENT LIFE 40.00 0.00 X 198541 0 29372 DONALD GORDAN EXECUTIVE DIRECTOR RILEY INSTITUTE 40.00 0.00 X 180256 0 32499 JEFF REDDERSON AVP FACILITIES 40.00 0.00 X 167160 0 29071 P EDWIN GOOD CHAIR 2.00 0.00 X X 0 0 0 KEVIN T BYRNE VICE CHAIR 2.00 0.00 X X 0 0 0 SUSAN T SHI SECRETARY 2.00 0.00 X X 0 0 0 KEVIN R BRYANT TRUSTEE 2.00 0.00 X 0 0 0 CHRISTINA NEWSOM BYRON TRUSTEE 2.00 0.00 X 0 0 0 RICHARD CULLEN TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN BAUCOM DAVIES TRUSTEE 2.00 0.00 X 0 0 0 LEE C DILWORTH TRUSTEE 2.00 0.00 X 0 0 0 DAVID G ELLISON TRUSTEE 2.00 0.00 X 0 0 0 DAVID L HAUSER TRUSTEE 2.00 0.00 X 0 0 0 ROBERT E HILL JR 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 ANTHONY WILTON MCDADE TRUSTEE 2.00 0.00 X 0 0 0 MARY SEAWELL METZ TRUSTEE 2.00 0.00 X 0 0 0 JAMES M NEY TRUSTEE 2.00 0.00 X 0 0 0 JASON W RICHARDS TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL C RIORDAN TRUSTEE 2.00 0.00 X 0 0 0 DANIEL S SANDERS JR TRUSTEE 2.00 0.00 X 0 0 0 PEACE STERLING 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 TONY R THENE TRUSTEE 2.00 0.00 X 0 0 0 RACHELLE H 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 WILSON III TRUSTEE 2.00 0.00 X 0 0 0 MATTHEW WALLS WILSON TRUSTEE 2.00 0.00 X 0 0 0 RICHARD N WRENN JR TRUSTEE 2.00 1.00 X 0 0 0 JOHN C YATES TRUSTEE 2.00 0.00 X 0 0 0 4177268 0 669090 137 0 1 0 COMPASS GROUP USA INC PO BOX 91337 CHICAGO IL 606931337 DINING SERVICES 6192949 INCLINE ALCHEMY INC 12647 ALCOSTA BLVD STE 240 SAN RAMON CA 94583 CONSULTING 1524696 EBSCO PO BOX 204661 DALLAS TX 753204661 TECHNOLOGY SERVICES 820074 APOGEE TELECOM INC PO BOX 95541 GRAPEVINE TX 760999703 TECHNOLOGY SERVICES 772165 JD LANE CONSTRUCTION LLC 320 LINDSEY BRIDGE RD TAYLORS SC 29687 CONSTRUCTION 564811 42 305334 4023755 79236386 2793646 83565475 TUITION AND FEES 611710 121878171 121878171 ROOM AND BOARD 611710 25791072 25791072 OTHER AUXILIARY 611710 2052427 2052427 INTERCOLLEGIATE ATHLETICS 611710 1753616 1753616 1858607 1858607 153333893 22826814 -1101181 23927995 1329625 367326 962299 962299 -79530 72799 969030 79164635 30774 36611267 34058 42553368 -3284 42550084 42550084 EMPLOYEE LEASE REVENUE 541900 355272 355272 355272 303593837 153254363 -1028382 67802381 213725 213725 64414507 64414507 3233865 1122966 1825025 285874 63339121 55287325 5169782 2882014 5206258 4340609 599611 266038 13874428 10440578 3026422 407428 4628975 3898212 490892 239871 515138 515138 142775 142775 2828453 2828453 8994616 5644922 3142873 206821 3220812 2884630 254494 81688 6190727 3820058 2177512 193157 2724685 2462426 262259 1255678 1215675 20713 19290 823654 629952 175958 17744 3074986 2831722 243264 14534648 13384484 1150164 1306976 1188623 118353 MEAL PLAN EXPENSE 6876124 6876124 LIBRARY RESOURCES 1661313 1661313 UNIFORMS 854355 852852 1503 REPAIRS & MAINTENANCE 692474 620071 72403 3060797 2348288 460373 252136 213669090 186139062 22677967 4852061 8885468 19245381 17213395 16749341 16706224 66617675 3129139 3604289 251176 248826 1697393 1229884 493768909 235430019 264921053 258338890 78303707 110025276 482218349 632265667 47768 19517 176473860 183618533 1049847532 1291963279 7525287 10538063 6403512 6017843 100443977 98992162 44617 15305 4272630 3347022 118690023 118910395 X 342796265 394227541 588361244 778825343 931157509 1173052884 1049847532 1291963279 X 89924747 151090318 880310 X 0 1 X 1 1 1 X 28009766 24479236 26194545 23276048 83565475 185525070 28009766 24479236 26194545 23276048 83565475 185525070 61780758 123744312 11843285 15778991 13052566 11613577 24156439 76444858 261969928 844813693 0.47240 0.47710 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, THE UNIVERSITY HAS ELECTED TO FOLLOW THE "SPECIAL RULE" FOR REPORTING CONTRIBUTIONS ON SCHEDULE B WHICH PROVIDES THAT 501(C)(3) ORGANIZATIONS THAT SATISFY THE 33 1/3% SUPPORT TESTS OF SECTIONS 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 343316 313505 3028051 1 1 3721877 X X 0 0 1 X 670014077 6299124 197145647 13733787 17925394 2828452 838971215 694271736 11819457 3561096 14361697 19951585 5324930 670014077 702854866 15062542 16900125 12533250 24647089 3365458 694271736 661046233 17843681 60328135 11371784 21673063 3318336 702854866 609730540 17812606 67449504 11618256 18506824 3821337 661046233 0.16890 0.62230 0.20880 1 1 1 37357612 37357612 344863568 137625747 207237821 80537037 75779585 4757452 31010692 22024687 8986005 258338890 101341 F REAL ASSET FUNDS 64550428 F PRIVATE CAPITAL 155871483 F HEDGED STRATEGIES 123077098 F FIXED INCOME 46093960 F EQUITY SECURITIES 235560029 F REAL ESTATE 1111328 C PRIVATE CAPITAL 5900000 C 632265667 EQUITY INTEREST IN HOLLINGSWORTH FUNDS 175051929 FUNDS HELD IN TRUST BY OTHERS 6004851 CSV LIFE INSURANCE 1857512 DEPOSITS 307040 RIGHT OF USE ASSET 397201 183618533 GOVERNMENT ADVANCES FOR STUDENT LOANS 12402 ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 1234944 ASSET RETIREMENT OBLIGATION 1447054 LEASE OBLIGATIONS 652622 3347022 X 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'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, 2021 AND 2020 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. 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, PROGRAMS 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. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 135540545 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 8696945 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 24872485 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 1280 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES LAB SUPPLIES 1445 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES BOOKS 926 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES DEPOSIT FOR STUDENT TRAVEL 5693 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES LAB SUPPLIES 13350 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES MEMBERSHIP 1017 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 7684 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT REFUND 500 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY AWAY PROGRAM FEES 44001 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES VIRTUAL SPEAKER FEES 900 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES VIRTUAL SPEAKER FEES 2384 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT RECRUITING 2624 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT RECRUITING 4710 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT RECRUITING 2636 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDENT RECRUITING 40 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDENT RECRUITING 40 SOUTH ASIA 0 0 PROGRAM SERVICES STUDENT RECRUITING 1207 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT RECRUITING 80 0 0 0 0 0 0 169132669 67823 169200492 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 TO STUDENTS FOR RESEARCH AND OTHER PROJECTS. EXPENSES MUST TO 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: 1 M JUDSON BOOKSELLERS 130 S MAIN STREET GREENVILLE SC 29601 471792713 25000 SPONSORSHIP OUR UPSTATE SC 150 EXECUTIVE CENTER DR STE 202 GREENVILLE SC 29615 451842000 501(C)(3) 10000 SPONSORSHIP THE GREENVILLE DRIVE LLC 945 S MAIN STREET GREENVILLE SC 29601 043672609 50000 SPONSORSHIP UPCOUNTRY HISTORY MUSEUM 340 BUNCOMBE STREET GREENVILLE SC 29601 570833796 501(C)(3) 100000 OPERATING SUPPORT GREENVILLE ARTS FESTIVAL 101B AUGUSTA STREET GREENVILLE SC 29601 582676608 501(C)(3) 8500 SPONSORSHIP 3 2 UNDERGRADUATE SCHOLARSHIPS 1477 49574928 ATHLETIC SCHOLARSHIPS 256 12064981 GRADUATE SCHOLARSHIPS 22 98620 FELLOWSHIPS AND INTERNSHIPS 499 1602750 GRADUATE STIPENDS 13 87000 HEERF STUDENT AID GRANTS 926 836534 OTHER STUDENT STIPENDS 43 149694 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 SCHOLARSHIP AND/OR FINANCIAL AID IS 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 A RESULT, 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, INTERNSHIP 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 FY21, THE UNIVERSITY ALSO DISTRIBUTED FUNDS UNDER THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF"). THE UNIVERSITY AWARDED AN AUTOMATIC PAYMENT OF $400 TO ALL ELIGIBLE STUDENTS. FURMAN UNIVERSITY 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 1 1 X X X 1 0 0 0 0 0 0 1 0 DR ELIZABETH DAVIS PRESIDENT 478322 0 0 0 20426 0 35625 0 6607 0 540980 0 0 0 ROBERT RICHEY MEN'S HEAD BASKETBALL COACH 307157 0 75000 0 1536 0 32964 0 19062 0 435719 0 0 0 MICHAEL HENDRICKS VP ENROLLMENT MANAGEMENT 260070 0 0 0 20432 0 32532 0 18214 0 331248 0 0 0 CLAYTON HENDRIX MEN'S HEAD FOOTBALL COACH 267136 0 1000 0 1326 0 30468 0 19176 0 319106 0 0 0 DAVID P STEINOUR CHIEF INFORMATION OFFICER 247981 0 0 0 22511 0 30758 0 1008 0 302258 0 0 0 HEIDI MCCRORY VP DEVELOPMENT 232275 0 0 0 1320 0 27891 0 35682 0 297168 0 0 0 RICHARD MEADE MEN'S HEAD LACROSSE COACH 151832 0 0 0 124073 0 19069 0 1258 0 296232 0 0 0 JASON DONNELLY ATHLETICS DIRECTOR 230160 0 10500 0 8933 0 27344 0 19103 0 296040 0 0 0 KENNETH PETERSON VP FOR ACADEMIC AFFAIRS & PROVOST 235122 0 0 0 24370 0 30078 0 5806 0 295376 0 0 0 THOMAS E EVELYN II VP UNIVERSITY COMMUNICATIONS 225699 0 0 0 2851 0 27350 0 37594 0 293494 0 0 0 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 176468 0 37085 0 19543 0 26887 0 16890 0 276873 0 0 0 SUSAN MADDUX VP FINANCE & ADMINISTRATION 233579 0 0 0 4326 0 27891 0 8032 0 273828 0 0 0 GEORGE SHIELDS CHEMISTRY PROFESSOR 201888 0 0 0 8390 0 21715 0 19144 0 251137 0 0 0 CONNIE L CARSON VP STUDENT LIFE 197454 0 0 0 1087 0 22750 0 6622 0 227913 0 0 0 DONALD GORDAN EXECUTIVE DIRECTOR RILEY INSTITUTE 178781 0 0 0 1475 0 20699 0 11800 0 212755 0 0 0 JEFF REDDERSON AVP FACILITIES 153404 0 0 0 13756 0 19886 0 9185 0 196231 0 0 0 PART I, LINE 1A A COMPANION HAS TRAVELED WITH BOTH THE PRESIDENT, ELIZABETH DAVIS, AND THE MEN'S BASKETBALL COACH, ROBERT 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 TO 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 WAS 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 HER 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, LINE 4A THE UNIVERSITY HAS A SEVERANCE AGREEMENT WITH RICHARD MEADE. AS PART OF THE SEVERANCE AGREEMENT, MEADE WAS PAID $239,719 DURING FY21. THE AGREEMENT IS TO PAY HIM HIS REGULAR SALARY OF $261,512 FOR THREE YEARS ENDING JUNE 30, 2023. PART I, LINE 7 FURMAN UNIVERSITY MADE A NON-FIXED BONUS PAYMENT TO ROBERT RICHEY. THE PAYMENT WAS NOT CONTINGENT ON THE REVENUES OR NET EARNINGS OF THE UNIVERSITY OR ANY RELATED ORGANIZATION AND WAS APPROVED BY THE PRESIDENT WITH THE SUPPORT OF THE BOARD. A SC JOBS - ECONOMIC DEV AUTHORITY 570960018 837031ULS 2015-08-13 68432003 REFUNDING AND CAPITAL 0 0 0 B SC JOBS - ECONOMIC DEV AUTHORITY 570960018 000000000 2021-09-22 35830000 REFUNDING 2006B AND 2010 BOND ISSUES 0 0 0 A 2080000 68432003 659117 25001055 42771831 2017 0 1 1 1 B 840000 35830000 219844 35610156 2012 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEV. AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2018 NA N/A 40500 DISCOUNTED TUITION EDUCATION X 157 COST X 14624 COST X 59 2776178 MARKET VALUE X COMPUTERS 5 2437 COST X YARD SIGNS 1 250 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 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. FORM 990, PART VI, SECTION B, LINE 15 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. 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 INTEREST RATE EXCHANGE AGREEMENT 61,028. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 791,666. CHANGE IN CSV LIFE INSURANCE 160,613. LOSS ON DEBT REFUNDING -132,997. 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 (7) SPLIT INTEREST SC N/A T 0 CHARITABLE REMAINDER ANNUITY TRUST SPLIT INTEREST SC N/A T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 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, SC BASED CHARITIES. FOR THE YEAR ENDED JUNE 30, 2021, INCOME DISTRIBUTIONS FROM THE HOLLINGSWORTH FUNDS, WHICH ARE REPORTED AS INVESTMENT RETURNS, WERE $4,201,007 AND PROVIDED FUNDING FOR THE HOLLINGSWORTH SCHOLARS PROGRAM, TWO ENDOWED PROFESSORSHIPS IN THE DEPARTMENTS OF ECONOMICS AND BUSINESS AND ACCOUNTING, AND SPECIFIC NEEDS OF THOSE TWO DEPARTMENTS. FURMAN UNIVERSITY FOUNDATION (FUF) OPERATES AS A NONPROFIT PUBLIC BENEFIT CORPORATION TO SERVE THE NEEDS AND INTERESTS OF FURMAN UNIVERSITY.