2012-08-15T07:27:24-05:00 2011-12-31 570306533 DERRICK STUBBS & STITH LLP 508 HAMPTON STREET 1ST FLOOR COLUMBIA SC 29201 990 2011-01-01 570705675 UNIVERSITY OF SOUTH CAROLINA SCHOOL OF MEDICINE EDUCATIONAL TRUST UNIV 8032553407 PO BOX 413 COLUMBIA SC 29202 JEFFREY L PERKINSCPA CIA CHP M 8032553407 2012-08-14 1 K TODD DAILEY CPA P00105223 8037995810 2011 2016-02-24 21:20:13Z JEFFREY L PERKINSCPA C SUITE 300 15 MEDICAL PARK COLUMBIA SC 29203 65746225 0 X N/A X 1980 SC ENHANCE THE EXEMPT FUNCTION OF UNIVERSITY OF SOUTH CAROLINA SCHOOL OF MEDICINE. 28 28 220 0 0 0 0 0 63743760 61065585 433846 348585 4339371 4332055 68516977 65746225 2613128 3528925 0 0 39073279 38415262 0 0 0 17387721 21177909 59074128 63122096 9442849 2624129 40200770 42383335 15377573 15055312 24823197 27328023 X THE PURPOSE OF THE EDUCATIONAL TRUST IS TO ENHANCE THE PURPOSE OF THEUNIVERSITY OF SOUTH CAROLINA AND THE UNIVERSITY OF SOUTH CAROLINASCHOOL OF MEDICINE. IT PERFORMS ITS PURPOSE IN PROVIDING A CLINICALSETTING FOR FACULTY TO PERFORM MEDICAL SERVICES TO PATIENTS. PATIENTS INCLUDE TRADITIONAL FEE-FOR-SERVICE PATIENTS AS WELL AS A VARIETY OFPATIENTS SEEN UNDER CONTRACTS WITH GOVERNMENT AGENCIES. ALSO SERVED AREMANY CITIZENS WHO ARE REFERRED TO AS MEDICALLY UNDERSERVED, WHICHINCLUDES FREE CARE TO INDIGENTS. STUDENTS OF THE MEDICAL SCHOOL ANDRESIDENT DOCTORS PARTICPATE IN THE PROVISION OF SERVICES AND OBSERVETHE PERFORMANCE OF MEDICAL ACTIVITIES IN A CLINICAL SETTING. 0 0 8205829 3528925 3923858 SUPPORT OF UNIVERSITY OF SOUTH CAROLINA SCHOOL OF MEDICINE AND ITSCLINICAL FACILITIES. ACADEMIC ENHANCEMENT FUNDS ARE PROVIDED FROM 7%OF CLINICAL PATIENT BILLINGS AND CONTRACT REVENUES. THESE FUNDS AREPROVIDED TO THE MEDICAL SCHOOL AND THE CLINICAL FACILITIES FOR AVARIETY OF PROJECTS AND EXPENSE REIMBURSEMENTS THAT WOULD OTHERWISE BEPAID WITH APPROPRIATED STATE FUNDS OR NOT PURCHASED AT ALL. ANOPERATIONS SUBFUND, PRESENTLY 4% OF REVENUES, IS USED TO MITIGATE THEEFFECTS OF MANDATED APPROPRIATED FUND BUDGET REDUCTIONS AT THE SCHOOLOF MEDICINE. A CLINICAL SUPPORT SERVICES SUBFUND, PRESENTLY 1% OFREVENUE, IS USED TO PROVIDE SERVICES COMMON TO ALL THE CLINICS, SUCH ASMARKETING. 54915935 61473782 OPERATION OF CLINICAL FACILITIES AND RELATED BUILDINGS AND EQUIPMENT.SUBSTANTIALLY ALL REVENUES CONSIST OF PAYMENTS FOR MEDICAL SERVICESEITHER FROM INDIVIDUAL PATIENT BILLINGS OR UNDER CONTRACTS FROM OTHERGOVERNMENT AGENCIES. LESSER AMOUNTS ARE RECEIVED IN THE FORM OF FACULTYCOST REIMBURSEMENTS. INVESTMENT INCOME AND MINOR RENTAL INCOME FROMNONGOVERNMENT BUSINESSES. THE CLINICS OWN AND OPERATE TWO PROFESSIONALMEDICAL OFFICE BUILDINGS ON THE CAMPUS OF PALMETTO HEALTH RICHLANDHOSPITAL. FACULTY PHYSICIANS AND STAFF ALSO PROVIDE SERVICES IN FOUROTHER MEDICAL OFFICE BUILDINGS , THE USC SCHOOL OF NURSING, AND AN ON OFFICE THE CAMPUS OF THE VA HOSPITAL. 63121764 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 220 1 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 0 X TRUST OFFICE 8032553407 SUITE 310 TWO MEDICAL PARK COLUMBIA SC 29203 HOPPMAN RICHARD MD 2.00 X X 324500 246194 0 JEFFREY L PERKINS CPA 1.00 X X 104316 145900 0 BURTON MARION 0 MD 1.00 X X 149562 143144 0 AMROL DAVID MD 1.00 X X 347497 92374 0 WALSH JOHN V IV MD 1.00 X X 369400 185659 0 BAXLEY ELIZABETH MD 1.00 X 107589 191198 0 HALL JEFFREY MD 1.00 X 82299 75404 0 CHILLAG SHAWN MD 1.00 X 113403 149656 0 SEN SOUVIK MD 1.00 X 35128 278784 0 SELPH JAMES MD 1.00 X 254122 57829 0 NARASIMAHN MEERA MD 1.00 X 69689 188114 0 BOUKNIGHT JAMES MD 1.00 X 138273 125645 0 SMITH LENWOOD MD 1.00 X 618707 83741 0 TOUSSAINT C PHILLIP MD 1.00 X 516264 52002 0 HEWLETT PEGGY PHD 1.00 X 0 217468 0 CALDWELL TORIAH MD 1.00 X 0 82157 0 BURGIS JUDITH T MD 1.00 X 206882 126583 0 SPIRYDA LISA MD 1.00 X 133922 69307 0 CHEESEMAN EDWARD W MD 1.00 X 261223 57714 0 MARKOWITZ BETHANY BRAY MD 1.00 X 101456 68140 0 VOSS FRANK R MD 1.00 X 297595 69036 0 TAYLOR R CAUGHMAN MD 1.00 X 230674 169812 0 KAMINER SHARON MD 1.00 X 158050 58428 0 NEUFFER FRANCIS H MD 1.00 X 0 89433 0 ADCOCK DAVID FMD 1.00 X 13868 0 0 NOTTINGHAM JAMES MD 1.00 X 398711 70287 0 FANN STEPHEN A MD 1.00 X 365247 85506 0 BYNOE RAYMOND MD 1.00 X 426776 97085 0 PASTIDES HARRIS PHD 1.00 X 294500 216927 0 MORRISON JAMES E MD 1.00 X 289986 91123 0 SWEET RAYMOND C MD 1.00 X 572011 76535 0 WEBB SHARON W MD 1.00 X 448764 56395 0 BELL RICHARD M MD 1.00 X 121358 158118 0 HERBERTJOHN M MD 1.00 X 126507 81885 0 DIPETTE DONALD MD 1.00 X 179250 235676 0 7857529 4193259 0 28 1 1 0 COGDELL SPENCER LLP PO BOX 1751 COLUMBIA SC 29202 RENTAL OF OFFICE SPACE 1062035 PALMETTO HEALTH ALLIANCE PO BOX 327 COLUMBIA SC 29202 RENTAL OF OFFICE SPACE 635755 REVELS CONTRACTING SERVICES INC 5620 GALLIGHER DR GASTONIA NC 28052 OFFICE RENOVATIONS 467113 KEENAN DEVELOPMENT COMPANY PO BOX 11437 COLUMBIA SC 29211 RENTAL OF OFFICE SPACE 138384 NELSON MULLINS RILEY & SCARBOROUGH 1320 MAIN STREET COLUMBIA SC 29201 LEGAL SERVICES 127274 6 PATIENT CHARGES 621110 61065585 61065585 61065585 348585 348585 353162 353162 353162 353162 REIMBURSE FOR FACULTY 611710 3978893 3978893 3978893 65746225 65397640 0 348585 3528925 3528925 7303804 7303804 30557733 30557733 553725 553725 84107 84107 115871 115871 2523662 2523662 387218 387218 258623 258623 1020284 1020284 611077 611077 OFFICE AND CLINICAL SUP 6885423 6885091 332 CONTRACTUAL SERVICES 4830370 4830370 OTHER EXPENSES 1310421 1310421 BAD DEBTS 1283000 1283000 1867853 1867853 63122096 63121764 332 0 11919791 13941720 8715994 8523488 811145 24527522 12541690 12480954 11985832 5648089 6501620 1294274 477862 141668 141668 40200770 42383335 8246102 8679220 6375000 5950000 558599 426092 197872 0 15377573 15055312 X 0 0 0 0 24823197 27328023 24823197 27328023 40200770 42383335 X 2624129 -119303 X 0 1 0 X 0 X X 0 0 0 UNIVERSITY OF SOUTH CAROLINA 576001153 501(C)(4) 0 1 1 1442474 1 1442474 17752559 7036530 10716029 6774963 5505160 1269803 11985832 65746225 63122096 2624129 -119303 -119303 2504826 65746225 0 65746225 0 65746225 63122096 0 63122096 0 63122096 PART XI, LINE 8 - OTHER ADJUSTMENTS: INCREASE (DECREASE) IN UNREALIZED INVESTMENT HOLDING GAINS -317,175. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP FINANCIAL INSTRUMENT 197,872. TOTAL TO SCHEDULE D, PART XI, LINE 8: -119,303. 0 UNIVERSITY OF SOUTH CAROLINA SCHOOL OF MEDICINE 1224 BLOSSOM ST COLUMBIA SC 29208 2021451 IN SUPPORT OF FACULTY AND STAFF APPOINTMENTS AND RELATED OPERATIONAL COSTS UNIVERSITY OF SOUTH CAROLINA 1224 BLOSSOM ST COLUMBIA SC 29208 576001153 1442474 IN SUPPORT OF ITS VARIOUS PROGRAMS UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION 1224 BLOSSOM ST COLUMBIA SC 29208 65000 IN SUPPORT OF SCHOOL OF MEDICINE PROGRAMS, DEVELOPMENT AND ACTIVITIES PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS AND CONTRIBUTIONS TO THE UNIVERSITY OF SOUTH CAROLINA AND RELATED ENTITIES ARE MADE AFTER COLLABORATION WITH THE UNIVERSITY. MANY CONTRIBUTIONS ARE BASED ON COMMITMENTS MADE COLLEGIALLY BETWEEN THE UNITS. OTHERS ARE RECURRING PROJECTS, EQUIPMENT PURCHASES OR EXPENSE ITEMS. THERE IS NO FORMAL GRANT WRITING IN THIS PROCESS. X 1 1 X 0 0 0 0 0 0 0 0 0 HOPPMAN RICHARD MD 300000 229944 0 0 24500 16250 0 0 0 0 324500 246194 324847 246145 JEFFREY L PERKINS CPA 94833 135331 0 0 9483 10569 0 0 0 0 104316 145900 0 0 BURTON MARION 0 MD 135966 132729 0 0 13596 10415 0 0 0 0 149562 143144 146336 143377 AMROL DAVID MD 322997 85163 0 0 24500 7211 0 0 0 0 347497 92374 240923 91875 WALSH JOHN V IV MD 344900 172652 0 0 24500 13007 0 0 0 0 369400 185659 362918 161729 BAXLEY ELIZABETH MD 97809 178515 0 0 9780 12683 0 0 0 0 107589 191198 98790 187974 HALL JEFFREY MD 74818 70152 0 0 7481 5252 0 0 0 0 82299 75404 0 0 CHILLAG SHAWN MD 103094 136814 0 0 10309 12842 0 0 0 0 113403 149656 118965 144718 SEN SOUVIK MD 31935 262859 0 0 3193 15925 0 0 0 0 35128 278784 34083 264215 SELPH JAMES MD 231020 51921 0 0 23102 5908 0 0 0 0 254122 57829 244372 56469 NARASIMAHN MEERA MD 63354 175622 0 0 6335 12492 0 0 0 0 69689 188114 58778 153369 BOUKNIGHT JAMES MD 125703 117365 0 0 12570 8280 0 0 0 0 138273 125645 125281 123017 SMITH LENWOOD MD 594207 76521 0 0 24500 7220 0 0 0 0 618707 83741 590121 80403 TOUSSAINT C PHILLIP MD 491764 46152 0 0 24500 5850 0 0 0 0 516264 52002 198161 42599 HEWLETT PEGGY PHD 0 203072 0 0 0 14396 0 0 0 0 0 217468 0 214665 BURGIS JUDITH T MD 188075 118276 0 0 18807 8307 0 0 0 0 206882 126583 185230 95504 SPIRYDA LISA MD 121748 64711 0 0 12174 4596 0 0 0 0 133922 69307 117915 69311 CHEESEMAN EDWARD W MD 237476 51004 0 0 23747 6710 0 0 0 0 261223 57714 270274 54880 MARKOWITZ BETHANY BRAY MD 92233 63590 0 0 9223 4550 0 0 0 0 101456 68140 111796 68155 VOSS FRANK R MD 273095 62285 0 0 24500 6751 0 0 0 0 297595 69036 308075 66638 TAYLOR R CAUGHMAN MD 209704 158508 0 0 20970 11304 0 0 0 0 230674 169812 215659 164525 KAMINER SHARON MD 143682 51631 0 0 14368 6797 0 0 0 0 158050 58428 139700 58523 NOTTINGHAM JAMES MD 374211 62636 0 0 24500 7651 0 0 0 0 398711 70287 354114 64372 FANN STEPHEN A MD 340747 79642 0 0 24500 5864 0 0 0 0 365247 85506 338526 85309 BYNOE RAYMOND MD 402276 89889 0 0 24500 7196 0 0 0 0 426776 97085 425670 97097 PASTIDES HARRIS PHD 270000 201002 0 0 24500 15925 0 0 0 0 294500 216927 0 0 MORRISON JAMES E MD 265486 85078 0 0 24500 6045 0 0 0 0 289986 91123 366385 91124 SWEET RAYMOND C MD 547511 71335 0 0 24500 5200 0 0 0 0 572011 76535 550261 76554 WEBB SHARON W MD 424264 50545 0 0 24500 5850 0 0 0 0 448764 56395 387678 56420 BELL RICHARD M MD 110326 145826 0 0 11032 12292 0 0 0 0 121358 158118 124143 169134 HERBERTJOHN M MD 115007 76289 0 0 11500 5596 0 0 0 0 126507 81885 130683 82304 DIPETTE DONALD MD 162955 219751 0 0 16295 15925 0 0 0 0 179250 235676 352935 225701 PART I, LINE 1A THE DEAN OF THE MEDICAL SCHOOL IS ALLOWED PAID MEMBERSHIPS IN CERTAIN NON-DISCRIMINATORY BUSINESS CLUBS THAT HAVE GOLF OR RECREATIONAL ACTIVITIES. THESE ARE LARGELY USED FOR RECRUITMENT OF FACULTY. ALSO RECOGNIZED THAT MEALTIME IS A GENERALLY CONVENIENT OPPORTUNITY FOR THE DEAN TO MEET WITH HIS FACULTY AND/OR STAFF DUE TO MEDICAL AND TEACHIG SCHEDULES. FORM 990, PART VI, SECTION B, LINE 11 THE TRUST BOARD OF DIRECTORS DOES NOT DIRECTLY REVIEW THE FORM 990 PRIOR TO ITS BEING FILED. FORM 990 IS DETAIL REVIEWED BY THE SECRETARY - TREASURER PRIOR TO SIGNING AND FILING. FORM 990 AND THE AUDITED FINANCIAL STATEMENTS ARE PREPARED ON THE SAME BASIS OF ACCOUNTING. THE AUDITED FINANCIAL STATEMENTS ARE PRESENTED TO THE BOARD OF DIRECTORS PRIOR TO ISSUANCE. FORM 990, PART VI, SECTION B, LINE 15B THE PRESIDENT AND ALL OFFICERS ARE MEMBERS OF THE FACULTY. ALL FACULTY COMPENSATION IS DOCUMENTED IN A WRITTEN AGREEMENT THAT IS APPROVED BY THE DEPARTMENT CHAIRMAN AND THE DEAN OF THE MEDICAL SCHOOL. CONSIDERATIONS INCLUDE LEVEL OF AOADEMIC INVOLVEMENT, PATIENT WORKLOAD, ACUITY, CARE OF THE MEDICALLY UNDER-SERVED, AMONG OTHERS. THE PRESIDENT AND ALL OFFICERS SERVE FOR A REVOLVING PERIOD OF ONE YEAR. THE OFFICER POSITIONS ARE UNCOMPENSATED. THE OFFICER POSITIONS SERVE TO MEET LEGAL OBLIGATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE MAINTAINED BY THE DIRECTOR OF LEGAL AFFAIRS. TRUST PHYSICIANS ARE FACULTY MEMBERS OF UNIVERSITY OF SC AND THE TRUST'S POLICIES REGARDING CONFLICTS OF INTEREST, USE OF SOCIAL CLUBS, TRAVEL, WHIST1EB1OWER PROVISIONS, ETC. ARE CONSISTENT WITH THOSE OF THE UNIVERSITY OF SC EDUCATIONAL FOUNDATION. FINANCIAL STATEMENTS OF THE TRUST ARE INCLUDED IN THE FINANCIAL STATEMENTS OF THE UNIVERSITY OF SC AS A BLENDED COMPONENT UNIT. FORM 990 IS AVAILABLE UPON REQUEST FROM THE DIRECTOR OF LEGAL AFFAIRS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: INCREASE (DECREASE) IN UNREALIZED INVESTMENT HOLDING GAINS -317,175. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP FINANCIAL INSTRUMENT 197,872. TOTAL TO FORM 990, PART XI, LINE 5: -119,303. UNIVERSITY OF SC EDUCATIONAL FOUNDATION 1224 BLOSSOM ST COLUMBIA SC 29208 SUPPORT UNIVERSITY OF SOUTH CAROLINA WITH ITS EDUCATIONAL MISSION SC 501(C)(3) UNIVERSITY OF SOUTH CAROLINA 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0