2015-05-12T14:46:02-05:00 2014-06-30 570381582 ELLIOTT DAVIS DECOSIMO LLCPLLC 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 990 2013-07-01 576026593 UNIVERSITY OF SC DEVELOPMENT FOUNDATION UNIV 8037771466 1027 BARNWELL STREET COLUMBIA SC 29208 RUSSELL H MEEKINS EXECUTIVE DIRECTOR 8037771466 2015-05-11 1 DENISE P HILL CPA P00046615 8032560002 2013 2016-03-07 17:11:31Z RUSS MEEKINS 1027 BARNWELL STREET COLUMBIA SC 29208 7916377 0 X WWW.SC.EDU/FOUNDATIONS/DEVELOPMENT X 1965 SC TO ACQUIRE PROPERTY IN ACCORDANCE WITH THE NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA 20 19 1 20 171098 0 3683265 818111 0 0 1776476 3758849 1372594 1285841 6832335 5862801 32734 0 0 0 260578 260726 0 0 0 3549770 3137688 3843082 3398414 2989253 2464387 70827726 79576730 34438116 37257913 36389610 42318817 TO ACQUIRE REAL AND PERSONAL PROPERTY; AND TO HOLD, RENT, SELL, OR TRANSFER SUCH PROPERTY IN ACCORDANCE WITH THE NEEDS AND DEMANDS OF THE UNIVERSITY OF SOUTH CAROLINA. 0 0 2885613 143338 TO ACQUIRE REAL AND PERSONAL PROPERTY TO MEET THE NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA 2885613 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 1 12 0 1 1 1 1 1 0 0 0 0 1 1 0 0 0 0 0 X 20 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 SC X X RUSS MEEKINS 8037770201 1027 BARNWELL STREET COLUMBIA SC 29208 JAMES W CANTEY JR CHAIR EMERITUS 1.00 X 0 0 0 HERBERT C ADAMS MEMBER 0.50 0.00 X 0 0 0 STEPHEN K BENJAMIN MEMBER 1.00 X 0 0 0 MARK W BUYCK JR MEMBER 0.50 10.00 X 0 0 0 WILLIAM W DOAR JR MEMBER 1.00 X 0 0 0 JOHN W FIELDS MEMBER 0.60 X 0 0 0 STAN F GIBSON MEMBER 0.50 X 0 0 0 PAUL S GOLDSMITH MEMBER 1.00 X 0 0 0 STAN HARPE MEMBER 0.30 X 0 0 0 ROBERT R HILL JR MEMBER 1.00 X 0 0 0 JOHN C HOUSER MEMBER 0.30 X 0 0 0 S ALAN MEDLIN MEMBER 1.00 50.00 X 0 203250 0 PAGE MORRIS MEMBER 2.00 X 0 0 0 EVERETTE H NEWMAN MEMBER 2.00 X 0 0 0 AUSTIN M SHEHEEN JR MEMBER 0.30 X 0 0 0 THOMAS E SUGGS MEMBER 0.30 X 0 0 0 DR SUSIE H VANHUSS MEMBER 1.00 X 0 0 0 EUGENE P WARR JR EX OFFICIO MEMBER 0.30 X 0 0 0 JOSEPH C REYNOLDS CHAIR 2.00 X 0 0 0 WILLIAM C HAMMETT JR VICE CHAIR 0.30 X 0 0 0 M ELIZABETH CRUM SECRETARY/TREASURER 0.30 X 0 0 0 RUSSELL H MEEKINS FOUNDATION CHIEF EXECUTIVE OFFICER 25.00 15.00 X 0 194783 41020 KIMBERLY H ELLIOTT FOUNDATION CFO 10.00 30.00 X 0 152578 40818 SUSAN B SMITH CHIEF OPERATING OFFICER 10.00 25.00 X 0 135469 30712 RICHARD H ROCKAFELLOW EXECUTIVE DIRECTOR - RETIRED 3/2014 20.00 X 74852 0 0 74852 686080 112550 0 0 1 0 LCK CONSTRUCTION SERVICES LLC 1301 GERVAIS STREET COLUMBIA SC 29201 BUILDING RENOVATION 1414859 STAMATS PO BOX 1888 CEDAR RAPIDS IA 52406 IT CONSULTING 179133 2 818111 90679 818111 419325 419325 971405 0 971405 971405 971405 1218100 4175000 0 2053576 1218100 2121424 3339524 3339524 NET GAIN IN HOTEL ASSOCIATES, LLC 721110 171098 171098 MISCELLANEOUS 900099 143338 143338 314436 5862801 143338 171098 4730254 260726 260726 119665 58092 61573 40372 8215 32157 21857 21857 280101 276563 3538 14626 12267 2359 1816 1088 728 9291 1982 7309 384123 383817 306 211787 211787 80162 17554 62608 LOSS ON INTEREST RATE S 1437802 1437802 REAL ESTATE TAXES 105697 105697 ACQUISITIONS ON BEHALF 105298 105298 DUES 104756 104756 220335 160695 59640 3398414 2885613 512801 0 1771228 2639662 2154840 2183627 1226898 341707 765000 0 15399903 1136004 8359612 14263899 26022351 31387655 30334513 28631363 193284 128817 70827726 79576730 933922 2808653 13309589 11596180 16151408 19563616 4043197 3289464 34438116 37257913 X 10819497 15635099 22204185 23317790 3365928 3365928 36389610 42318817 70827726 79576730 X 2464387 3436033 28787 X 0 1 X 1 0 X X X X 0 0 0 UNIVERSITY OF SOUTH CAROLINA 576001153 5 1 1 1 2885613 1 2885613 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19000 X 0 22655668 1200 4897900 382467 214707 26957594 19651443 2400 3487146 308640 176681 22655668 20435411 17139 -367785 273059 160263 19651443 16736526 1200 4108141 254594 155862 20435411 15263315 2400 1844013 232844 140358 16736526 0.84970 0.12480 0.02550 0 0 3721482 3721482 6097469 1049121 5048348 119028 86883 32145 5461924 5461924 14263899 REAL ESTATE HELD FOR INVESTMENT 28631363 F 28631363 FUNDS HELD FOR OTHERS 17866 DEFICIT IN USC HOTEL ASSOCIATES 1833796 INTEREST RATE SWAP 1437802 3289464 X 9156523 3436033 28787 3464820 5691703 171098 171098 5862801 3227316 0 3227316 171098 171098 3398414 PART III, LINE 4: THE FOUNDATION PRESERVES VARIOUS PIECES OF ART FOR FUTURE GENERATIONS AND FOR THE BENEFIT OF THE UNIVERSITY OF SOUTH CAROLINA. PART V, LINE 4: ENDOWMENT FUNDS ARE USED, IN ACCORDANCE WITH ANY DONOR RESTRICTIONS, TO SUPPORT THE REAL AND PERSONAL PROPERTY NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA. PART X, LINE 2: ACCOUNTING PRINICPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUBSTANTIATED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2014, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PLEDGES RECEIVABLE 28,787. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET GAIN IN USC HOTEL ASSOCIATES, LLC 171,098. PART XII, LINE 4B - OTHER ADJUSTMENTS: NET GAIN IN USC HOTEL ASSOCIATES, LLC 171,098. FORM 990, SCHEDULE D, PART XI & XII, LINE 4B: PART XI & PART XII, LINE 4B: THIS AMOUNT REPRESENTS THE NET GAIN FROM USC HOTEL ASSOCIATES, LLC IN WHICH THE DEVELOPMENT FOUNDATION OWNS 80%. WHILE CONSOLIDATED FOR FINANCIAL REPORTING PURPOSES, IT IS PRESENTED AS SEPARATE UNRELATED BUSINESS REVENUE ON FORM 990. NET GAIN FROM USC HOTEL ASSOCIATES, LLC: $171,098. X X X X 0 0 0 0 0 0 0 0 0 S ALAN MEDLIN MEMBER 0 203250 0 0 0 0 0 0 0 0 0 203250 0 0 RUSSELL H MEEKINS FOUNDATION CHIEF EXECUTIVE OFFICER 0 194783 0 0 0 0 0 30370 0 10650 0 235803 0 0 KIMBERLY H ELLIOTT FOUNDATION CFO 0 152578 0 0 0 0 0 24296 0 16522 0 193396 0 0 SUSAN B SMITH CHIEF OPERATING OFFICER 0 135469 0 0 0 0 0 21161 0 9551 0 166181 0 0 SCHEDULE J, PAGE 2, PART II: RUSSELL MEEKINS, KIMBERLY H. ELLIOTT, AND SUSAN B. SMITH RECEIVED THEIR COMPENSATION FROM THE UNIVERSITY OF SOUTH CAROLINA (USC). MR. MEEKINS RECEIVED A TOTAL OF $235,803 FROM USC. MRS. ELLIOTT RECEIVED A TOTAL OF $193,396 FROM USC. MRS. SMITH RECEIVED A TOTAL OF $166,181 FROM USC. THE FOUNDATION ALONG WITH THE UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION, A RELATED PARTY, REIMBURSED USC 100% OF THESE COSTS. A UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION 576026593 2010-12-31 19135000 TO ACQUIRE REAL ESTATE AND TO REFUND BONDS ISSUED IN 2000 AND 2001. 0 0 0 A 7538820 19135000 199441 2012 1 0 1 1 A 0 0 0 0 1 0 0 0 0 A 0 WELLS FARGO A FOUNDATION BOARD MEMBER IS A COMMERCIAL BANKING EXECUTIVE FOR WELLS FARGO 11596180 WELLS FARGO IS THE PURCHASER OF THE FOUNDATION'S ECONOMIC DEVELOPMENT REVENUE BONDS (JEDA BONDS) ISSUED DECEMBER 2010. 0 X 11 90679 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBER, TOMMY SUGGS, IS AN EXECUTIVE WITH KEENAN SUGGS INSURANCE. SEVERAL BOARD MEMBERS ARE CLIENTS OF KEENAN SUGGS INSURANCE. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE 990 IS E-MAILED 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 OFFICER'S COMPENSATION IS DETERMINED BASED ON PERFORMANCE AND BOARD REVIEWS. SALARIES ARE DERIVED FROM COMPARABLE INDUSTRY DATA AND ACHIEVEMENT OF PERFORMANCE STANDARDS ESTABLISHIED AT THE BEGINNING OF EACH FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, ANNUAL FORM 990 AND 990-T ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 24E EQUIPMENT RENTAL & MAINTENANCE: PROGRAM SERVICE EXPENSES 29,713. MANAGEMENT AND GENERAL EXPENSES 32,239. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,952. EQUIPMENT / OFFICE FURNISHINGS: PROGRAM SERVICE EXPENSES 60,878. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 60,878. CONSTRUCTION COSTS: PROGRAM SERVICE EXPENSES 51,606. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,606. BANK FEES: PROGRAM SERVICE EXPENSES 12,947. MANAGEMENT AND GENERAL EXPENSES 27,401. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,348. MISCELLANEOUS / TRANSFER EXPENSE / ASSESSMENTS: PROGRAM SERVICE EXPENSES 5,551. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,551. FORM 990, PART XI, LINE 9: CHANGE IN PLEDGES RECEIVABLE 28,787. FORM 990, SCHEDULE K, PART V: ARBITRAGE PROCEDURES ARE NOT APPLICABLE TO THE ORGANIZATION BECAUSE THE BONDS HAVE BEEN ISSUED LONGER THAN THE 12 MONTH PERIOD REQUIRED BY THE REGULATIONS TO ADOPT THESE PROCEDURES. FORM 990, PAGE 12, PART XII, LINE 2C, RESPONSIBILITY OF AUDIT OVERSIGHT: THE FOUNDATION'S BOARD OF DIRECTORS OVERSEES THE AUDIT PROCESS. THE INN AT USC LLC 1027 BARNWELL STREET COLUMBIA SC 29208 GROUND LEASE TO USC HOTEL ASSOCIATES, LLC SC 193342 1580898 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION CDRC LLC 1027 BARNWELL STREET COLUMBIA SC 29208 LAND/BLDG TO HOUSE USC CHILD DEVELOPMENT RESEARCH CENTER SC 200106 3847534 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION WILLIAMS AT BLOSSOM LLC 1027 BARNWELL STREET COLUMBIA SC 29208 REAL ESTATE INVESTMENT SC 80827 3751475 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION ADDESSO-DF LLC 1027 BARNWELL STREET COLUMBIA SC 29208 OWNS 49% INTEREST IN RESIDENTIAL/RETAIL CONDO PROJECT VIA ADESSO/COLUMBIA SC 0 -1165639 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION LONGLEAF ENVIRONMENTAL LLC 1027 BARNWELL STREET COLUMBIA SC 29208 ENVIRONMENTAL STUDIES SC 0 0 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION WEST CAMPUS LLC 1027 BARNWELL STREET COLUMBIA SC 29208 UNIVERSITY STUDENT HOUSING SC 0 4853498 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION USCDF WACCAMAW LLC 1027 BARNWELL STREET COLUMBIA SC 29208 REAL ESTATE INVESTMENT SC 0 0 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION USC INNOVATION LLC 1027 BARNWELL STREET COLUMBIA SC 29208 REAL ESTATE DEVELOPMENT SC 0 608425 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION UNIVERSITY OF SOUTH CAROLINA 1718 COLLEGE STREET COLUMBIA SC 29208 576001153 PUBLIC UNIVERSITY SC N/A N/A N/A 0 UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION 1027 BARNWELL STREET COLUMBIA SC 29208 576017985 EDUCATION AND RESEARCH SUPPORT SC 501(C)(3) 5 N/A 0 USC HOTEL ASSOCIATES LLC 1027 BARNWELL STREET COLUMBIA SC 29208 134272820 HOLDS INTEREST IN THE INN AT USC SC UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION RELATED 171098 6558972 0 0 WHEELER HILL DEVELOPMENT LLC 1027 BARNWELL STREET COLUMBIA SC 29208 204996416 REAL ESTATE DEVELOPMENT SC UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION C 1667804 1.00000 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 1 1 USC HOTEL ASSOCIATES LLC J 192070 FAIR MARKET VALUE WHEELER HILL LLC D 1458678 EXPENSE REIMBURSEMENT