2012-03-12T08:22:25-05:00 2011-06-30 ELLIOTT DAVIS LLCPLLC 1901 MAIN STREET SUITE 1650 COLUMBIA SC 29201 990 2010-07-01 576026593 UNIVERSITY OF SC DEVELOPMENT FOUNDATION UNIV 8037771466 1600 HAMPTON STREET NO 814 COLUMBIA SC 292083400 RUSSELL H MEEKINS 8037771466 2012-03-06 1 DENISE P HILL CPA 8032560002 2010 2016-02-24 21:20:13Z RUSS MEEKINS 107 OSBORNE ADMINISTRATION BUILDING COLUMBIA SC 29208 5068125 0 X WWW.SC.EDU/FOUNDATIONS/DEVELOPMENT X 1965 SC TO ACQUIRE PROPERTY IN ACCORDANCE WITH THE NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA 18 13 1 18 284831 0 2951198 657283 0 0 753728 1323485 1600135 1149957 5305061 3130725 890000 0 0 0 452579 273601 0 0 0 3517616 1773516 4860195 2047117 444866 1083608 63929750 72547265 34306287 39026945 29623463 33520320 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 1651245 1134184 TO ACQUIRE REAL AND PERSONAL PROPERTY TO MEET THE NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA 1651245 1 1 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 0 0 0 1 10 0 1 1 1 1 1 0 0 0 0 1 1 0 0 0 0 X 18 13 0 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 ROBERT R HILL JR 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 S ALAN MEDLIN 0.30 X 0 163772 0 EVERETTE H NEWMAN 0.30 X 0 0 0 JOSEPH REYNOLDS 0.30 X 0 0 0 AUSTIN M SHEHEEN JR 0.30 X 0 0 0 G CAMERON TODD 0.30 X 0 0 0 JEROME D ODOM 24.00 X X 0 210000 0 HARRIS PASTIDES 0.30 X 0 269458 0 RICHARD H ROCKAFELLOW 40.00 X X 109159 0 0 RUSSELL H MEEKINS 26.00 X 0 145321 31797 KIMBERLY H ELLIOTT 14.00 X 0 103335 35023 109159 1054147 66820 1 0 1 0 0 657283 25890 657283 217998 217998 500606 335823 500606 335823 836429 836429 3025820 17067 1923267 14133 1102553 2934 1105487 1105487 NET GAIN IN HOTEL ASSO 721110 284831 284831 MISCELLANEOUS 900099 28697 28697 313528 3130725 1134184 284831 1054427 74852 74852 190731 190731 2438 2438 5580 5580 14424 11320 3104 27265 765 26500 41515 29522 11993 485 455 30 7399 5509 1890 49283 47455 1828 160273 156994 3279 505100 505100 162542 162542 125604 94059 31545 BAD DEBT EXPENSE 245875 245875 PROPERTY TAX EXPENSE 169574 169574 EQUIPMENT RENTAL & MAIN 126480 89837 36643 BENEFICIARY DISTRIBUTIO 69849 69849 CONSTRUCTION COSTS 30498 30498 37350 31891 5459 2047117 1651245 395872 0 5707376 5799054 3076573 2387855 350304 135868 166273 351274 11877306 3303711 8696897 8573595 15530556 24772523 30381549 30318279 20222 208817 63929750 72547265 609568 382549 9970000 19135000 20083898 16151408 3642821 3357988 34306287 39026945 X 6506289 9723849 19751246 20430543 3365928 3365928 29623463 33520320 63929750 72547265 X 1083608 2813249 X X 0 1 1 X 0 X X X X 0 0 0 UNIVERSITY OF SOUTH CAROLINA 576001153 5 1 1 1 1651245 1 1651245 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19000 X 0 16736526 1200 4108141 254594 155862 20435411 15263315 2400 1844013 232844 140358 16736526 20333089 55000 -4782954 208377 133443 15263315 0.81520 0.16470 0.02010 0 0 3782737 3782737 5902856 1179401 4723455 2191713 2124310 67403 8573595 REAL ESTATE HELD FOR INVESTMENT 30318279 F 30318279 FUNDS HELD FOR OTHERS 17866 DEFICIT IN USC HOTEL ASSOCIATES 3340122 3357988 3130725 2047117 1083608 2813249 2813249 3896857 5697607 2813249 38464 2851713 2845894 284831 284831 3130725 1800750 38464 38464 1762286 284831 284831 2047117 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, 2011, 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 XII & PART XIII, 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. PART V, LINE 1A: BEGINNING OF THE YEAR BALANCES FOR COLUMNS (A), (B), AND (C) WERE RESTATED TO REFLECT FUND'S APPROPRIATED FOR EXPENDITURE. 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 210000 0 0 0 0 0 0 0 0 0 210000 0 210000 HARRIS PASTIDES 0 269458 0 0 0 0 0 0 0 0 0 269458 0 0 RUSSELL H MEEKINS 0 145321 0 0 0 0 0 19554 0 12243 0 177118 0 167844 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION 576026593 2010-12-30 19135000 TO ACQUIRE REAL ESTATE AND TO REFUND BONDS ISSUED IN 2000 AND 2001. 0 0 0 19135000 199441 5000000 1 0 0 1 0 0 0 0 0.00000 0.00000 0.00000 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 19135000 WELLS FARGO IS THE PURCHASER OF THE FOUNDATION'S ECONOMIC DEVELOPMENT REVENUE BONDS (JEDA BONDS) ISSUED DECEMBER 2010. 0 WELLS FARGO A FOUNDATION BOARD MEMBER IS A COMMERCIAL BANKING EXECUTIVE FOR WELLS FARGO 16151408 THE FOUNDATION HAS TWO UNSECURED LOANS WITH WELLS FARGO BANK. ALL TRANSACTIONS WERE CONDUCTED IN THE NORMAL COURSE OF BUSINESS WITHOUT INFLUENCE FROM THE DIRECTOR. 0 X 2 25890 FAIR MARKET VALUE 0 1 0 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 BOARD REVIEWS THE ANNUAL DISCLOSURES SUBMITTED BY EACH MEMBER. ANY CONFLICTS ARE RESOLVED AND/OR ADDRESSED IN THE MINUTES OF THE ORGANIZATION. 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 ESTABLISHED 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 GAINS ON INVESTMENTS: 2,813,249. FORM 990, PAGE 12, PART XI, LINE 2C, RESPONSBILITY OF AUDIT OVERSIGHT: THE FOUNDATION'S BOARD OF DIRECTORS OVERSEES THE AUDIT PROCESS. FORM 990, PAGE 9, PART VIII, STATEMENT OF REVENUE, LINE 1F: THE CONTRIBUTIONS AMOUNT IS PRESENTED NET OF THE CHANGE IN PLEDGES RECEIVABLE FOR THE TAX YEAR IN THE AMOUNT OF ($688,718). THE INN AT USC LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 GROUND LEASE TO USC HOTEL ASSOCIATES, LLC SC 0 2206548 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 201402 3879025 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION WILLIAMS AT BLOSSOM LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 REAL ESTATE INVESTMENT SC 89890 3971194 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 -941665 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 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 284831 6683854 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 1654968 1.00000 0 0 0 0 1 0 0 0 1 0 0 0 1 1 1 1 1 1