2020-07-15T13:03:00-05:00 2019-06-30 560574444 CHERRY BEKAERT LLP 110 EAST COURT STREET GREENVILLE SC 29601 990 2018-07-01 570314395 FURMAN UNIVERSITY FURM 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 SUSAN MADDUX VP OF FINANCE & ADMINISTRATION 2020-07-15 true AMANDA ADAMS CPA P00748038 8642333981 2018 2020-09-23 17:36:50Z DR ELIZABETH DAVIS 3300 POINSETT HIGHWAY GREENVILLE SC 29613 341500085 false X WWW.FURMAN.EDU X 1826 SC FURMAN UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING DISTINCTIVE UNDERGRADUATE AND GRADUATE EDUCATION EMPHASIZING AN ENGAGED APPROACH COMBINING CLASSROOM LEARNING WITH REAL WORLD EXPERIENCES AND SELF-DISCOVERY. 31 30 2704 75 -1604703 0 24479236 26194545 171747406 177663493 36138541 28706816 2678609 1772161 235043792 234337015 71384546 72271417 0 89877273 92720456 0 3862681 69257682 72522097 230519501 237513970 4524291 -3176955 1117274760 1092540721 138582015 126688867 978692745 965851854 X 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. false false 155981477 72271417 137510639 INSTRUCTION OF APPROXIMATELY 2,900 STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS. THE 4 YEAR PATHWAY FOR STUDENTS INSTITUTED BY THE FURMAN ADVANTAGE INCLUDES STUDY AWAY PROGRAMS IN MORE THAN 20 COUNTRIES MOST OF WHICH ARE LED BY FURMAN FACULTY, CAREER FOCUSED INTERNSHIPS AND COMMUNITY INVOLVEMENT. SCHOLARSHIPS ARE AWARDED TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED AND ACADEMIC MERIT. 30520397 4218160 STUDENT SERVICES INCLUDES INTERCOLLEGIATE ATHLETICS, INTRAMURAL AND CLUB SPORTS, ENROLLMENT MANAGEMENT, STUDENT GOVERNMENT AND A LARGE VARIETY OF STUDENT ORGANIZATIONS, SERVICES AND ACTIVITIES. 23399716 32949611 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. 3330285 MISCELLANEOUS REVENUE FROM CONTRACTS AND FEES FROM EXEMPT FUNCTION UNIVERSITY ACTIVITIES 3330285 209901590 true true false false true false true true true true true false true true true false true true false true false false false true false false true true true true false false false false false false true false true false true true false false false true false false false true 387 0 true 2704 true true true false false false false true true true false false false false false false false false X 31 30 false false false false false false false true true false false false true true true true true true true false SC X AMY ECKLUND 8642943496 3300 POINSETT HIGHWAY GREENVILLE SC 29613 A ALEXANDER TAYLOR CHAIR 2.0 0.0 X X 0 0 0 P EDWIN GOOD VICE CHAIR 2.0 0.0 X X 0 0 0 YENDELELA NEELY HOLSTON SECRETARY 2.0 0.0 X X 0 0 0 JOHN DONALD ANDERSON TRUSTEE 2.0 0.0 X 0 0 0 ROBERT L BLOCKER TRUSTEE 2.0 0.0 X 0 0 0 KEVIN R BRYANT TRUSTEE 2.0 0.0 X 0 0 0 KEVIN T BYRNE TRUSTEE 2.0 0.0 X 0 0 0 RICHARD CULLEN TRUSTEE 2.0 0.0 X 0 0 0 LEE C DILWORTH TRUSTEE 2.0 0.0 X 0 0 0 DAVID G ELLISON TRUSTEE 2.0 0.0 X 0 0 0 SEAN P HARTNESS TRUSTEE 2.0 1.0 X 0 0 0 DAVID L HAUSER TRUSTEE 2.0 0.0 X 0 0 0 FRANCIE M HELLER TRUSTEE 2.0 0.0 X 0 0 0 GORDON R HERRING TRUSTEE 2.0 0.0 X 0 0 0 ROBERT E HILL JR TRUSTEE 2.0 0.0 X 0 0 0 STANFORD J JENNINGS TRUSTEE 2.0 0.0 X 0 0 0 CARL F KOHRT TRUSTEE 2.0 0.0 X 0 0 0 JAMES A LANIER JR TRUSTEE 2.0 0.0 X 0 0 0 MARY SEAWELL METZ TRUSTEE 2.0 0.0 X 0 0 0 JAMES M NEY TRUSTEE 2.0 0.0 X 0 0 0 JASON W RICHARDS TRUSTEE 2.0 0.0 X 0 0 0 DANIEL S SANDERS JR TRUSTEE 2.0 0.0 X 0 0 0 SUSAN T SHI TRUSTEE 2.0 0.0 X 0 0 0 PEACE STERLING SULLIVAN TRUSTEE 2.0 0.0 X 0 0 0 BRENDA J THAMES TRUSTEE 2.0 0.0 X 0 0 0 TONY R THENE TRUSTEE 2.0 0.0 X 0 0 0 RACHELLE H THOMPSON TRUSTEE 2.0 0.0 X 0 0 0 WILLIAM R TIMMONS III TRUSTEE 2.0 1.0 X 0 0 0 DAVID J TRONE TRUSTEE 2.0 0.0 X 0 0 0 BAXTER M WYNN TRUSTEE 2.0 0.0 X 0 0 0 JOHN C YATES TRUSTEE 2.0 0.0 X 0 0 0 DR ELIZABETH DAVIS PRESIDENT 40.0 0.0 X 519546 0 67164 GEORGE C SHIELDS VP FOR AA & PROVOST 40.0 0.0 X 273030 0 59277 MICHAEL HENDRICKS VP ENROLLMENT MGMT 40.0 0.0 X 272716 0 66405 DAVID P STEINOUR CHIEF INFORMATION OFFICER 40.0 0.0 X 266192 0 39453 MICHAEL J BUDDIE ATHLETICS DIRECTOR 40.0 0.0 X 254787 0 49470 THOMAS E EVELYN II VP COMMUNICATION 40.0 0.0 X 229456 0 55269 MARY LOU MERKT VP FINANCE & ADMINISTRATION THRU OCTOBER 2018 40.0 1.0 X 223438 0 33928 CONNIE L CARSON VP STUDENT LIFE 40.0 0.0 X 194111 0 34599 HEIDI MCCRORY VP DEVELOPMENT 40.0 0.0 X 142536 0 31715 SUSAN MADDUX VP FINANCE & ADMINISTRATION BEG. NOVEMBER 2018 40.0 1.0 X 30048 0 1000 SHON HERRICK INTERIM VP DEVELOPMENT 40.0 0.0 X 162541 0 56695 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 40.0 0.0 X 222563 0 50250 KENNETH PETERSON DEAN OF FACULTY 40.0 0.0 X 176087 0 44464 JEFF REDDERSON AVP FACILITIES 40.0 0.0 X 161307 0 36480 MICHAEL GATCHELL FORMER VP DEVELOPMENT 40.0 0.0 X 185225 0 35029 CLAYTON HENDRIX HEAD COACH FOOTBALL 40.0 0.0 X 276768 0 50828 RICHARD FRANCIS MEADE MEN'S LACROSSE COACH 40.0 0.0 X 255679 0 32845 ROBERT RICHEY MEN'S BASKETBALL COACH 40.0 0.0 X 201285 0 42458 DONALD GORDAN EXECUTIVE DIRECTOR RILEY INSTITUTE 40.0 0.0 X 177502 0 32284 4224817 0 819613 139 false true false COMPASS GROUP USA PO BOX 91337 CHICAGO IL 606931337 DINING CATERING 7550663 Sierra-Cedar Inc PO Box 402521 Atlanta GA 303842521 Consulting 1226053 Educational Programmes Abroad Inc 500 Joseph C Wilson Blvd Dewey 2-147 Rochester NY 14627 Student Services 858245 Workday Inc PO Box 396106 San Francisco CA 941396106 ERP SOFTWARE 634940 Lakeland Holdings LLC 218 West Water Street Suite 400 Charlottesville VA 22902 Travel Services 613057 37 38690 199793 2010948 23945114 1468067 26194545 TUITION AND FEES 611710 137510639 137510639 ROOM AND BOARD 611710 32949611 32949611 INTERCOLLEGIATE ATHLETICS 611710 4218160 4218160 OTHER INCOME 611600 2985083 2985083 0 0 0 0 177663493 11489748 -1634995 13124743 3392749 1719401 1673348 0 1673348 363104 27468 1282776 122377181 26548 105157560 29101 17219621 -2553 17217068 17217068 200543 38690 86652 113891 113891 155278 170356 -15078 -17902 2824 0 0 0 0 0 234337015 178008695 -1604703 31738478 563956 563956 71707461 71707461 3329992 1424946 1510241 394805 64523684 57691236 4785678 2046770 6620513 5693641 662051 264821 13517673 11574604 1217074 725995 4728594 4255735 472859 469157 469157 85303 85303 3326195 3326195 9823776 6594527 3096653 132596 4455069 3289092 1139582 26395 4681616 2044766 2537109 99741 3373229 2698585 674322 322 10965660 10576941 355104 33615 2488304 2456207 18838 13259 3476997 3251540 225457 14125100 12921533 1203567 830928 830928 MEAL PLANS 7642547 7642547 GRANTS EXPENSE 446924 446924 REPAIRS & MAINTENANCE 695955 695955 TAXES 79072 78860 212 5556265 5067349 364766 124150 237513970 209901590 23749699 3862681 11933769 13624048 23209266 16901809 33298114 23937889 3811882 5725860 0 0 0 286202 272044 2805960 2868543 478642014 208860586 273290153 269781428 115069333 92821230 478428292 499380880 3790421 3000169 171351368 164226821 1117274760 1092540721 7309502 8046637 8566692 7970239 111905000 102823005 26351 41488 0 0 10774470 7807498 138582015 126688867 X 353407962 356011213 409041941 389745098 216242842 220095543 978692745 965851854 1117274760 1092540721 X -3176955 -9549885 -114051 X false true X true true true X 18765448 63073720 28009766 24479236 26194545 160522715 0 0 18765448 63073720 28009766 24479236 26194545 160522715 56334003 104188712 21822641 10710160 11843285 15778991 13052566 73207643 0 0 0 0 0 0 0 0 0 0 0 0 233730358 848764710 0.4458 0.4216 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. Schedule A, Part II, Line 10 Other Income DESCRIPTION - , COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7 322334 262793 2859373 true true 3721877 X X false false true X 702854866 15062542 16900125 12533250 24647089 3365458 694271736 661046233 17843681 60328135 11371784 21673063 3318336 702854866 609730540 17812606 67449504 11618256 18506824 3821337 661046233 631397402 13018109 -1924812 9938999 19646598 3174562 609730540 650034650 5181840 7679281 9448629 18921020 3128720 631397402 0.1698 0.2919 0.5383 true true true 33977554 33977554 339660913 137475833 202185080 74807344 50804787 24002557 30196203 20579966 9616237 269781428 443238 F EQUITY SECURITIES 180003989 F HEDGED STRATEGIES 122936143 F PRIVATE CAPITAL 85798841 F REAL ESTATE ASSET FUNDS 62913459 F FIXED INCOME 42207673 F REAL ESTATE 1116728 C REAL ESTATE PRIVATE CAPITAL 3960809 C 499380880 EQUITY INTEREST HOLLINGSWORTH FUNDS 157132900 FUNDS HELD IN TRUST BY OTHERS 4820309 OTHER ASSETS 2273612 164226821 GOVERNMENT ADVANCES FOR STUDENT LOANS 3777259 BOND PREMIUM ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 1287976 ASSET RETIREMENT OBLIGATION 1447054 INTEREST RATE SWAP AGREEMENT 857420 CAPITAL LEASE AGREEMENTS 437789 7807498 X Schedule D, Part III, Line 4 Collections of art - description of collections THE UNIVERSITY HAS A COLLECTION OF DECORATIVE AND FINE ART MATERIALS THAT IS BOTH EXTENSIVE AND DIVERSE. COMPRISED OF OVER 2,600 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. Schedule D, Part IV, Line 2b Explanation of escrow agreement AGENCY ACCOUNTS 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. Schedule D, Part V, Line 4 Intended uses of endowment funds THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 900 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 AMOUNT COMPUTED UNDER THE ENDOWMENT SPENDING POLICY OF THE INVESTMENT POOL IS USED TO SUPPORT CURRENT OPERATIONS; THE REMAINDER IS RETAINED TO SUPPORT OPERATIONS OF FUTURE YEARS AND TO OFFSET POTENTIAL MARKET DECLINES. THE AMOUNT COMPUTED UNDER THE ENDOWMENT SPENDING POLICY OF THE INVESTMENT POOL IS USED TO SUPPORT CURRENT OPERATIONS. 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. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote 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, 2019 OR 2018 AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY 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 OPPORTUNITIES. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT THE UNIVERSITY PARTICIPATES IN THE FEDERAL PELL GRANT PROGRAM, THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS PROGRAM, THE FEDERAL COLLEGE WORK STUDY PROGRAM, AND THE FEDERAL PERKINS LOAN 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. Central America and the Caribbean 0 0 Program Services STUDY AWAY 109940 Central America and the Caribbean 0 0 Investments NOT APPLICABLE 96811417 East Asia and the Pacific 0 0 Program Services STUDENT RECRUITING 39275 East Asia and the Pacific 0 0 Program Services STUDENT REFUND 500 East Asia and the Pacific 0 0 Program Services STUDY AWAY 670772 East Asia and the Pacific 0 0 Program Services SUPPLIES 3331 East Asia and the Pacific 0 0 Program Services CONTRACT SERVICES 224 East Asia and the Pacific 0 0 Investments NOT APPLICABLE 1648176 Europe (Including Iceland and Greenland) 0 0 Program Services STUDENT RECRUITING 11194 Europe (Including Iceland and Greenland) 0 0 Program Services Travel 105813 Europe (Including Iceland and Greenland) 0 0 Program Services LIBRARY RESOURCES 5344 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY AWAY 4259648 Europe (Including Iceland and Greenland) 0 0 Program Services CONTRACT SERVICES 13030 Europe (Including Iceland and Greenland) 0 0 Investments NOT APPLICABLE 10187356 Middle East and North Africa 0 0 Program Services STUDY AWAY 129810 Russia and Neighboring States 0 0 Program Services STUDY AWAY 137 South America 0 0 Program Services TRAVEL 12007 South Asia 0 0 Program Services RECRUITING STUDENTS 8209 Sub-Saharan Africa 0 0 Program Services STUDY AWAY 491665 South America 0 0 Program Services STUDY AWAY 90752 East Asia and the Pacific 0 0 Program Services Travel 69213 South America 0 0 Program Services RECRUITING STUDENTS 7858 North America (Canada & Mexico only) 0 0 Program Services RECRUITING STUDENTS 8089 North America (Canada & Mexico only) 0 0 Program Services MUSICAL INSTRUMENT 6764 0 0 0 0 0 0 113995967 694557 114690524 true false true true true false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds FURMAN UNIVERSITY IS NOT A GRANTMAKER AS REFERENCED ON SCH. F LINE 1. FURMAN UNIVERSITY PROVIDES FUNDING TO FACULTY AND TO STUDENTS FOR RESEARCH AND OTHER PROJECTS. EXPENSES MUST BE SUBSTANTIATED UNDER THE ACCOUNTABLE PLAN TO ENSURE PROPER USE OF FUNDS Schedule F, Part I, Line 3(f) The value of investments is based on FMV at the end of the fiscal year. Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS FURMAN UNIVERSITY IS NOT A GRANTMAKER AS REFERENCED ON SCH. F LINE 1. FURMAN UNIVERSITY PROVIDES FUNDING TO FACULTY AND TO STUDENTS FOR RESEARCH AND OTHER PROJECTS. EXPENSES MUST BE SUBSTANTIATED UNDER THE ACCOUNTABLE PLAN TO ENSURE PROPER USE OF FUNDS VINCE PERONE CLASSIC GOLF 89803 10500 79303 0 6207 6094 7339 3704 BASKETBALL GOLF TOURNAMENT 48048 20150 27898 0 4839 5376 921 863 4 101382 8040 93342 0 15978 11738 7213 16380 239233 38690 200543 0 27024 23208 15473 20947 86652 113891 true THE GREENVILLE DRIVE LLC 945 S MAIN STREET GREENVILLE SC 29601 576019318 75000 SPONSORSHIP UPCOUNTRY HISTORY MUSEUM 540 BUNCOMBE STREET GREENVILLE SC 29601 570833796 501(c)(3) 162500 OPERATING SUPPORT ARTISPHERE 16 AUGUSTA STREET GREENVILLE SC 29601 582676608 501(c)(3) 10000 SPONSORSHIP EMPIRE MOCK TRIAL 515 ROUTE 33 MILLSTONE NJ 08535 260150254 501(c)(3) 13000 SPONSORSHIP FALL FOR GREENVILLE PO BOX 2207 GREENVILLE SC 29602 570876594 501(c)(3) 7500 SPONSORSHIP GREENVILLE ARENA DISTRICT 650 N ACADEMY STREET GREENVILLE SC 29601 576007739 GOV 75000 SPONSORSHIP M JUDSON LLC 130 S MAIN STREET GREENVILLE SC 29601 471792713 50000 SPONSORSHIP GREENVILLE CHAMBER OF COMMERCE 24 CLEVELAND STREET GREENVILLE SC 29601 570173240 501(c)(6) 21125 SPONSORSHIP INTEGRATED MEDIA PUBLISHING 303 HAYWOOD ROAD GREENVILLE SC 29607 264389571 15000 SPONSORSHIP 5 4 UNDERGRAD SCHOLARSHIPS 2389 56506121 ATHLETIC SCHOLARSHIPS 381 13352007 GRADUATE SCHOLARSHIPS 14 61574 FELLOWSHIPS AND INTERNSHIPS 667 1748759 GRADUATE STIPENDS 7 39000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. 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. 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 true true X X X X X false false false false false false false true false DR ELIZABETH DAVIS PRESIDENT 519546 0 0 0 0 0 34375 0 32789 0 586710 0 0 0 GEORGE C SHIELDS VP FOR AA & PROVOST 273030 0 0 0 0 0 34375 0 24902 0 332307 0 0 0 MICHAEL HENDRICKS VP ENROLLMENT MGMT 272716 0 0 0 0 0 34375 0 32030 0 339121 0 0 0 DAVID P STEINOUR CHIEF INFORMATION OFFICER 266192 0 0 0 0 0 33150 0 6303 0 305645 0 0 0 MICHAEL J BUDDIE ATHLETICS DIRECTOR 254787 0 0 0 0 0 31480 0 17990 0 304257 0 0 0 THOMAS E EVELYN II VP COMMUNICATION 229456 0 0 0 0 0 29689 0 25580 0 284725 0 0 0 MARY LOU MERKT VP FINANCE & ADMINISTRATION THRU OCTOBER 2018 223438 0 0 0 0 0 25438 0 8490 0 257366 0 0 0 CONNIE L CARSON VP STUDENT LIFE 194111 0 0 0 0 0 24410 0 10189 0 228710 0 0 0 HEIDI MCCRORY VP DEVELOPMENT 142536 0 0 0 0 0 15625 0 16090 0 174251 0 0 0 SHON HERRICK INTERIM VP DEVELOPMENT 162541 0 0 0 0 0 21773 0 34922 0 219236 0 0 0 KRISTOPHER N KAPOOR CHIEF INVESTMENT OFFICER 194833 0 27730 0 0 0 28810 0 21440 0 272813 0 0 0 KENNETH PETERSON DEAN OF FACULTY 176087 0 0 0 0 0 23063 0 21401 0 220551 0 0 0 JEFF REDDERSON AVP FACILITIES 161307 0 0 0 0 0 21125 0 15355 0 197787 0 0 0 MICHAEL GATCHELL FORMER VP DEVELOPMENT 185225 0 0 0 0 0 21547 0 13482 0 220254 0 0 0 CLAYTON HENDRIX HEAD COACH FOOTBALL 275768 0 1000 0 0 0 32838 0 17990 0 327596 0 0 0 RICHARD FRANCIS MEADE MEN'S LACROSSE COACH 255679 0 0 0 0 0 31503 0 1342 0 288524 0 0 0 ROBERT RICHEY MEN'S BASKETBALL COACH 201285 0 0 0 0 0 24619 0 17839 0 243743 0 0 0 DONALD GORDAN EXECUTIVE DIRECTOR RILEY INSTITUTE 177502 0 0 0 0 0 21989 0 10295 0 209786 0 0 0 Schedule J, Part I, Line 1a Travel for companions A COMPANION HAS TRAVELED WITH ELIZABETH DAVIS. TO THE EXTENT IT WAS PERSONAL IN NATURE SUCH AMOUNTS WERE INCLUDED IN HER TAXABLE INCOME. Schedule J, Part I, Line 1a Housing allowance or residence for personal use 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 GROUNDS KEEPING SERVICES ARE PROVIDED BY THE UNIVERSITY FOR THE PUBLIC AREAS OF THE RESIDENCE ONLY. THE PRESIDENT HOSTS UNIVERSITY EVENTS AT WHITE OAKS AS WELL. Schedule J, Part I, Line 1a Health or social club dues or initiation fees ELIZABETH DAVIS AND MIKE BUDDIE WERE PROVIDED WITH CLUB MEMBERSHIPS. TO THE EXTENT THE DUES WERE CONSIDERED PERSONAL, THE AMOUNTS WERE INCLUDED IN TAXABLE INCOME OR REIMBURSED TO THE UNIVERSITY. OTHERWISE THE DUES WERE TO ALLOW EMPLOYEES 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 EXPENDITURES. Schedule J, Part I, Line 7 Non-fixed payments FURMAN UNIVERSITY MADE NON-FIXED BONUS PAYMENTS TO KRISTOPHER KAPOOR AND CLAYTON HENDRIX. THE PAYMENTS WERE FOR MERIT AND NOT CONTINGENT ON THE REVENUES OR NET EARNINGS OF THE UNIVERSITY OR ANY RELATED ORGANIZATION. A EFA FOR PRIVATE NON-PROFIT 576000286 836896GE4 2006-07-06 46660000 REFUNDING AND CAPITAL false false false B EFA FOR PRIVATE NON-PROFIT 576000286 836896JA9 2010-03-18 21867529 REFUNDING AND CAPITAL false false false C SC JOBS - ECONOMIC DEV AUTHORITY 570960018 837031UL5 2015-08-13 68432003 REFUNDING AND CAPITAL false false false A 17370000 0 46660000 0 0 0 386655 0 0 10003417 36269928 0 2008 true false true true B 12440000 0 21867529 0 0 0 388902 0 0 1000000 20478628 0 2012 true true true true C 995000 0 68432003 0 0 0 659117 0 0 25001055 42771831 0 2017 false true true true A false false false false 0.0 0.0 0.0 false false true B false false false false 0.0 0.0 0.0 false false true C false false false false 0.0 0.0 0.0 false false true A true true true WELLS FARGO 20.0 false false true TRINITY PLUS 1.0 true false true B false false false true false false false false true C false false false true false false false false true A true B true C true Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: EFA FOR PRIVATE NON-PROFIT N/A Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: EFA FOR PRIVATE NON-PROFIT N/A Schedule K, Part IV, Line 2c COLUMN B Issuer name: EFA FOR PRIVATE NON-PROFIT The calculation for computing no rebate due was performed on 01/14/2013 Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: SC JOBS - ECONOMIC DEV. AUTHORITY N/A Schedule K, Part IV, Line 2c COLUMN C Issuer name: SC JOBS - ECONOMIC DEV. AUTHORITY The calculation for computing no rebate due was performed on 09/20/2018 NA N/A 272880 SCHOLARSHIPS MERIT COURTNEY TOLLISON SP OF TRUSTEE 35302 SALARY false CHARLES DAVIS SP OF OFFICER 10195 SALARY false Schedule L, Part V ADDITIONAL INFORMATION COURTNEY TOLLISON: SPOUSE OF UNIVERSITY TRUSTEE SEAN HARTNESS, WAS PAID WAGES FOR HER EMPLOYMENT WITH THE FILING ORGANIZATION. CHARLES DAVIS: SPOUSE OF UNIVERSITY PRESIDENT ELIZABETH DAVIS, WAS PAID WAGES FOR HIS EMPLOYMENT WITH THE FILING ORGANIZATION. THESE WAGES ARE DETERMINED AT ARMS LENGTH. X 48 1416652 Market value X 1 26000 Market value X 8 22523 Cost X SUPPLIES 6 2892 Cost 0 false true false Schedule M, Part I PART I, COLUMN (B) FURMAN UNIVERSITY IS ENTERING THE NUMBER OF CONTRIBUTIONS RECEIVED OF EACH TYPE IN ACCORDANCE WITH THE UNIVERSITY'S RECORDKEEPING PRACTICES. Form 990, Part III, Line 4d Description of other program services (Expenses $ including grants of $)(Revenue $ 3,330,285) MISCELLANEOUS REVENUE FROM CONTRACTS AND FEES FROM EXEMPT FUNCTION UNIVERSITY ACTIVITIES Form 990, Part VI, Line 11b Review of form 990 by governing body 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, Line 12c Conflict of interest policy 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, Line 15a Process to establish compensation of top management official THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT IS DETERMINED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE COMMISSIONED STUDIES OF PEER INSTITUTIONS' EXECUTIVE COMPENSATION CONDUCTED BY INDEPENDENT CONSULTANTS. FINAL COMPENSATION IS APPROVED BY THE EXECUTIVE COMMITTEE ON AN ANNUAL BASIS. THE PRESIDENT'S EMPLOYMENT IS GUIDED BY A WRITTEN EMPLOYMENT CONTRACT SIGNED BY BOTH PARTIES. ADDITIONALLY, THE INDEPENDENT CONSULTANTS REVIEW AND ANALYZE THREE OF THE OFFICERS' SALARIES ANNUALLY. THE THREE OFFICERS' SALARIES ARE SELECTED BY THE INDEPENDENT CONSULTANTS AND ARE SELECTED ON A ROTATION BASIS. EXECUTIVE COMMITTEE MEETINGS ARE DOCUMENTED. Form 990, Part VI, Line 15b Process to establish compensation of other employees AS STATED IN THE RESPONSE TO QUESTION 15A, INDEPENDENT CONSULTANTS REVIEW AND ANALYZE THREE OFFICERS' SALARIES ANNUALLY. Form 990, Part VI, Line 19 Required documents available to the public 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 Other changes in net assets or fund balances CHANGE IN INTEREST RATE EXCHANGE AGREEMENT - -114051; FURMAN UNIVERSITY FOUNDATION 3300 POINSETT HWY GREENVILLE SC 29613 571061363 FOUNDATION SC 501(c)(3) Type III-FI NA false HOLLINGWORTH FUNDS INC 124 VERDAE BLVD STE 10 GREENVILLE SC 29607 571003814 CHARITABLE SC 501(c)(3) Type I NA false CHARITABLE REMAINDER UNITRUSTS (10) SPLIT INT SC NA Trust false CHARITABLE REMAINDER ANNUITY TRUST SPLIT INT SC NA Trust false false false true false false false false false false false false false false false false false false false true 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, 2019, INCOME DISTRIBUTIONS FROM THE HOLLINGSWORTH FUNDS, WHICH ARE REPORTED AS INVESTMENT RETURNS, WERE $3,749,646, 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.