2013-05-15T10:47:23-05:00 2012-06-30 570381582 ELLIOTT DAVIS LLCPLLC 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 990 2011-07-01 576026593 UNIVERSITY OF SC DEVELOPMENT FOUNDATION UNIV 8037771466 1600 HAMPTON STREET NO 814 COLUMBIA SC 292083400 RUSSELL H MEEKINS 8037771466 2013-05-14 1 DENISE P HILL CPA P00046615 8032560002 2011 2016-02-24 21:20:13Z RUSS MEEKINS 107 OSBORNE ADMINISTRATION BUILDING COLUMBIA SC 29208 6036839 0 X WWW.SC.EDU/FOUNDATIONS/DEVELOPMENT X 1965 SC TO ACQUIRE PROPERTY IN ACCORDANCE WITH THE NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA 19 17 1 19 -423488 -423488 657283 1800648 0 0 1323485 486942 1149957 429784 3130725 2717374 0 84521 0 0 273601 255578 0 0 0 1773516 3397563 2047117 3737662 1083608 -1020288 72547265 66966018 39026945 35502047 33520320 31463971 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 3339672 84521 305307 TO ACQUIRE REAL AND PERSONAL PROPERTY TO MEET THE NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA 3339672 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 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 8 0 1 1 1 1 1 0 0 0 0 1 1 0 0 0 0 X 19 17 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 1600 HAMPTON STREET SUITE 814 COLUMBIA SC 29208 JAMES W CANTEY JR 0.30 X 0 0 0 JOSEPH REYNOLDS 0.30 X 0 0 0 JOHN C HOUSER 0.30 X 0 0 0 THOMAS E SUGGS 0.30 X 0 0 0 STEPHEN K BENJAMIN 0.30 X 0 0 0 MARK W BUYCK JR 0.30 X 0 0 0 M ELIZABETH CRUM 0.30 X 0 0 0 JAMES M DANIEL III 0.30 X 0 0 0 WILLIAM W DOAR JR 0.30 X 0 0 0 JOHN W FIELDS 0.30 X 0 0 0 MADILYN M FLETCHER 0.30 X 0 162261 0 STAN F GIBSON 0.30 X 0 0 0 PAUL S GOLDSMITH 0.30 X 0 0 0 WILLIAM C HAMMETT JR 0.30 X 0 0 0 STAN HARPE 0.30 X 0 0 0 ROBERT R HILL JR 0.30 X 0 0 0 S ALAN MEDLIN 0.30 X 0 163772 0 EVERETTE H NEWMAN 0.30 X 0 0 0 AUSTIN M SHEHEEN JR 0.30 X 0 0 0 JEROME D ODOM 24.00 X 0 215250 0 HON MILES LOADHOLT 0.30 X 0 0 0 RICHARD H ROCKAFELLOW 20.00 X 74852 0 0 RUSSELL H MEEKINS 26.00 X 0 151952 30379 KIMBERLY H ELLIOTT 14.00 X 0 113163 35252 74852 806398 65631 1 0 1 0 STEVENS AVIATION INC PO BOX 601928 CHARLOTTE NC 282601928 AIRCRAFT MAINTENANCE AND REPAIRS 144259 1 1800648 318137 1800648 279135 279135 420703 335069 0 0 420703 335069 755772 755772 3527272 3319465 207807 207807 207807 MISCELLANEOUS 900099 97500 97500 NET GAIN IN HOTEL ASSO 721110 -423488 -423488 -325988 2717374 305307 -423488 1034907 84521 84521 255578 255578 133196 121867 11329 50354 22193 28161 92828 87247 5581 228 153 75 4318 2212 2106 6631 5571 1060 169776 167312 2464 503051 503051 167383 167383 103134 69960 33174 ACQUISITIONS ON BEHALF 916617 916617 CONSTRUCTION COSTS 814418 814418 EQUIPMENT RENTAL & MAIN 178993 146529 32464 REAL ESTATE TAX EXPENSE 108472 108472 148164 122166 25998 3737662 3339672 397990 0 5799054 1201932 2387855 2162642 135868 151402 351274 645000 11766154 3444463 8573595 8321691 24772523 23601044 30318279 30631279 208817 251028 72547265 66966018 382549 278727 19135000 15290000 16151408 16151408 3357988 3781912 39026945 35502047 X 9723849 7744149 20430543 20353894 3365928 3365928 33520320 31463971 72547265 66966018 X -1020288 -1036061 X X 0 1 1 X 0 X X X X 0 0 0 UNIVERSITY OF SOUTH CAROLINA 576001153 5 1 1 1 3339672 1 3339672 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19000 X 0 20435411 17139 -367785 273059 160263 19651443 16736526 1200 4108141 254594 155862 20435411 15263315 2400 1844013 232844 140358 16736526 20333089 55000 -4782954 208377 133443 15263315 0.80780 0.17130 0.02090 0 0 3769721 3769721 5804719 1300199 4504520 2191714 2144264 47450 8321691 REAL ESTATE HELD FOR INVESTMENT 30631279 F 30631279 FUNDS HELD FOR OTHERS 18303 DEFICIT IN USC HOTEL ASSOCIATES 3763609 3781912 2717374 3737662 -1020288 -810848 -225213 -1036061 -2056349 2457253 -810848 39618 -225213 -996443 3453696 -736322 -736322 2717374 4513602 39618 39618 4473984 -736322 -736322 3737662 PART III, LINE 4: THE FOUNDATION PRESERVES VARIOUS PIECES OF ART FOR FUTURE GENERATIONS AND FOR THE BENEFIT OF THE UNIVERSITY OF SOUTH CAROLINA. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2012, 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 8 - OTHER ADJUSTMENTS: CHANGE IN PLEDGES RECEIVABLE -225,213. PART XII, LINE 2D: CHANGE IN PLEDGES RECEIVABLE - -$225,213 PART XII & PART XIII, LINE 4B: THIS AMOUNT REPRESENTS THE NET LOSS 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. ALSO INCLUDED IS THE AMOUNT OF NET INVESTMENT LOSSES REPORTED NET AS AN EXPENSE IN THE AUDITED FINANCIAL STATEMENTS BUT REPORTED GROSS ON FORM 990, PART VIII, EXCLUDING NET UNREALIZED LOSSES REPORTED IN PART XII, LINE 2A. NET LOSS FROM USC HOTEL ASSOCIATES, LLC - $423,488; NET INVESTMENT LOSSES - $312,834 -- TOTAL - $736,322 1 MARLBORO COUNTY GENERAL HOSPITAL 1138 CHERAW STREET BENNETTSVILLE SC 29512 570750184 501(C)(3) 84521 BOOK BUILDING INDIGENT HEALTH CARE 1 THE GRANT/ASSISTANCE IS UNENCUMBERED. THERE ARE NO MONITORING PROCEDURES FOR THIS GRANT X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MADILYN M FLETCHER 0 162261 0 0 0 0 0 0 0 0 0 162261 0 0 S ALAN MEDLIN 0 163772 0 0 0 0 0 0 0 0 0 163772 0 0 JEROME D ODOM 0 215250 0 0 0 0 0 0 0 0 0 215250 0 0 RUSSELL H MEEKINS 0 151952 0 0 0 0 0 20785 0 9594 0 182331 0 19554 SUPPLEMENTAL INFORMATION PART III PART I, LINE 1A: THE FOUNDATION PAID AN ANNUAL MEMBERSHIP FEE IN THE AMOUNT OF $95 FOR DR. ODOM'S MEMBERSHIP IN A BUSINESS CLUB. THE MEMBERSHIP WAS USED EXCLUSIVELY TO CONDUCT BUSINESS OF THE FOUNDATION. 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 3845000 19135000 199441 1600000 2012 1 0 0 1 0 0 0 0 1 0 1 0 0 0 0 SOUTH CAROLINA BANK AND TRUST TWO FOUNDATION BOARD MEMBERS SERVE ON SCBT'S BOARD AND AS CEO 175871 THE FOUNDATION HAS AN UNSECURED LOAN FROM SOUTH CAROLINA BANK AND TRUST. ALL TRANSACTIONS WERE CONDUCTED IN THE NORMAL COURSE OF BUSINESS WITHOUT INFLUENCE FROM THE DIRECTOR. 0 WELLS FARGO A FOUNDATION BOARD MEMBER IS A COMMERCIAL BANKING EXECUTIVE FOR WELLS FARGO 15290000 WELLS FARGO IS THE PURCHASER OF THE FOUNDATION'S ECONOMIC DEVELOPMENT REVENUE BONDS (JEDA BONDS) ISSUED DECEMBER 2010. 0 X 1 5137 FAIR MARKET VALUE X 2 313000 FAIR MARKET VALUE 0 0 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -810,848. CHANGE IN PLEDGES RECEIVABLE -225,213. TOTAL TO FORM 990, PART XI, LINE 5: -1,036,061. FORM 990, PAGE 12, PART XII, LINE 2C, RESPONSBILITY OF AUDIT OVERSIGHT: THE FOUNDATION'S BOARD OF DIRECTORS OVERSEES THE AUDIT PROCESS. 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. THE INN AT USC LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 REAL ESTATE INVESTMENT SC 0 2175952 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION CDRC LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 LAND/BLDG TO HOUSE USC CHILD DEVELOPMENT RESEARCH CENTER SC 190320 3880790 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION WILLIAMS AT BLOSSOM LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 REAL ESTATE INVESTMENT SC 86965 3911018 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION ADDESSO-DF LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 OWNS 49% INTEREST IN RESIDENTIAL/RETAIL CONDO PROJECT VIA ADESSO/COLUMBIA SC 0 -1028807 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION LONGLEAF ENVIRONMENTAL LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 ENVIRONMENTAL STUDIES SC 0 0 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION WACCAMAW LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 REAL ESTATE INVESTMENT SC 0 0 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 1600 HAMPTON STREET COLUMBIA SC 29208 576017985 EDUCATION AND RESEARCH SUPPORT SC 501(C)(3) 5 N/A 0 USC HOTEL ASSOCIATES LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 134272820 HOLDS INTEREST IN THE INN AT USC SC UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION RELATED -423488 6634630 0 0 WHEELER HILL DEVELOPMENT LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 204996416 REAL ESTATE DEVELOPMENT SC UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION C 1654335 1.00000 0 0 0 0 1 0 0 0 1 0 0 0 1 1 1 1 1 1