2011-02-10T06:49:04-06:00 2010-06-30 ELLIOTT DAVIS LLCPLLC 1901 MAIN STREET SUITE 1650 COLUMBIA SC 29201 990 2009-07-01 576026593 UNIVERSITY OF SC DEVELOPMENT FOUNDATION UNIV 8037771466 1600 HAMPTON STREET No 814 COLUMBIA SC 292083400 RUSSELL H MEEKINS 8037771466 2011-02-09 1 DENISE P HILL CPA 8032560002 2009 2016-02-24 21:20:13Z RUSS MEEKINS 1070 OSBORNE ADMINISTRATION BUILDING COLUMBIA SC 29208 5315061 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 16 1 19 0 -691874 854368 2951198 0 -7017086 753728 937140 1600135 -5225578 5305061 890000 0 255007 452579 0 0 3148380 3517616 3403387 4860195 -8628965 444866 60772780 63929750 32703616 34306287 28069164 29623463 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 4476277 TO ACQUIRE REAL AND PERSONAL PROPERTY TO MEET THE NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA 4476277 1 1 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 13 0 1 1 1 1 1 0 0 0 0 0 0 0 0 19 16 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 0 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 0 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 0 210000 0 HARRIS PASTIDES 0.30 X 0 4458 0 RICHARD H ROCKAFELLOW 40.00 X X 149704 0 0 russell h meekins 26.00 X 0 141566 26278 KIMBERLY H ELLIOTT 14.00 X 0 103546 25957 149704 459570 52235 1 0 1 0 stevens aviation inc po box 601928 charlotte NC 282601928 aircraft maintenance and repaires 117074 1 2951198 2951198 190917 190917 1094785 382903 1094785 382903 1477688 1477688 572811 10000 572811 -10000 562811 562811 MISCELLANEOUS 900099 122447 122447 122447 5305061 685258 0 1668605 890000 890000 162685 162685 228470 164881 63589 52870 35970 16900 8554 8554 35241 32516 2725 61465 38965 22500 509449 494459 14990 494 494 41660 37694 3966 23703 20803 2900 166733 153430 13303 441500 441500 307538 307538 162423 158286 4137 134642 100395 34247 NET LOSS IN HOTEL ASSOC 691874 691874 equipment rental & main 235433 206120 29313 0 bad debt expense 227250 227250 0 0 EQUIP/OFFICE FURNITURE 205399 205399 0 0 BANK FEES 122861 118752 4109 0 149951 149951 4860195 4476277 383918 0 3879230 5707376 3478500 3076573 327829 350304 166273 166273 11839932 3143035 8853318 8696897 13686542 15530556 30360866 30381549 20222 20222 60772780 63929750 517582 609568 9970000 9970000 19265087 20083898 2950947 3642821 32703616 34306287 X 6521205 6506289 18182031 19751246 3365928 3365928 28069164 29623463 60772780 63929750 X 0 1 1 X 0 X X X X 0 0 0 UNIVERSITY OF SOUTH CAROLINA 576001153 5 1 1 1 4476277 1 4476277 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19000 X 0 15280454 2400 1844013 373202 16753665 20350228 55000 -4782954 341820 15280454 0.78230 0.20090 0.01680 0 0 3782737 3782737 5918589 1030713 4887876 2138606 2112322 26284 8696897 CD'S AND MONEY MARKET FUND 127450 F REAL ESTATE HELD FOR INVESTMENT 30254099 F 30381549 FUNDS HELD FOR OTHERS 17866 DEFICIT IN USC HOTEL ASSOCIATES 3624955 3642821 5305061 4860195 444866 1109433 1109433 1554299 6461838 1109433 37344 1146777 5315061 -10000 -10000 5305061 4907539 37344 37344 4870195 -10000 -10000 4860195 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: Description of Intended Use of Endowment Funds: ENDOWMENT FUNDS ARE USED, IN ACCORDANCE WITH ANY DONOR RESTRICTIONS, TO SUPPORT THE REAL AND PERSONAL PROPERTY NEEDS OF THE UNIVERSITY OF SOUTH CAROLINA. THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED NEW GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE FOUNDATION ADOPTED THIS NEW GUIDANCE FOR THE YEAR ENDED JUNE 30, 2010. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XII & PART XIII, LINE 4B: THIS AMOUNT IS INCLUDED AS AN EXPENSE ON THE AUDITED FINANCIAL STATEMENTS, HOWEVER, FORM 990 REQUIRES THIS AMOUNT TO BE REPORTED AS A DECREASE IN REVENUE. 1 UNIVERSITY OF SOUTH CAROLINA 1718 COLLEGE STREET COLUMBIA SC 29208 576001153 890000 THE FOUNDATION CONTRIBUTED $890,000 TO THE UNIVERSITY FOR ISSUES RELATED TO THE UNIVERSITY'S DEVELOPMENT PROJECTS. Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: SCHEDULE I, PART IV, DESCRIPTION OF PROCEDURES FOR MONITORING GRANT FUNDS: The USCDF does not routinely award grants or other assistance, but did make a one-time assistance payment to the University of South Carolina, at the University's request. The payment was approved by the USCDF Board of Directors. All records pertaining to the payment and approval are maintained by the USCDF. X 1 1 X X X 0 0 0 0 0 0 0 0 0 JEROME D ODOM 0 210000 0 0 0 0 0 0 0 0 0 210000 0 0 russell h meekins 0 141566 0 0 0 0 0 19479 0 6799 0 167844 0 0 Supplemental Information Part III PART I, LINE IA: THE USC EDUCATIONAL FOUNDATION, A RELATED ORGANIZATION, PROVIDED DR. ODOM WITH A DISCRETIONARY ACCOUNT IN THE AMOUNT OF $10,000. IT WAS USED TO PAY EXPENSES TOTALING $1,334, THE BALANCE WAS RETURNED. SOUTH CAROLINA BANK AND TRUST TWO FOUNDATION BOARD MEMBERS SERVE ON SCBT'S BOARD AND AS CEO 2196137 THE FOUNDATION HAS A LOAN SECURED BY REAL PROPERTY FROM SOUTH CAROLINA BANK AND TRUST. ALL TRANSACTIONS WERE CONDUCTED IN THE NORMAL COURSE OF BUSINESS WITHOUT INFLUENCE FROM THE DIRECTOR. 0 SOUTH CAROLINA BANK AND TRUST TWO FOUNDATION BOARD MEMBERS SERVE ON SCBT'S BOARD AND AS CEO 700000 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 wachovia bank a foundation board member is a commercial banking executive for wachovia 17187761 The foundation has THREE UNSECURED loans with wachovia bank. all transactions were conducted in the normal course of business without influence from the director. 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 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. FORM 990, PAGE 12, PART XI, LINE 2C, RESPONSBILITY OF AUDIT OVERSIGHT: THE FOUNDATION'S BOARD OF DIRECTORS OVERSEES THE AUDIT PROCESS. SCHEDULE R, PART V, NO. 2, COLUMN C: THE FOUNDATION DETERMINES THE DOLLAR AMOUNT INVOLVED FROM TRANSACTIONS WITH RELATED ORGANIZATIONS BY USE OF THE FAIR VALUE METHOD. THE INN AT USC LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 GROUND LEASE TO USC HOTEL ASSOCIATES, LLC SC 303000 2458090 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 252513 3927341 UNIVERSITY OF SOUTH CAROLINA DEVELOPMENT FOUNDATION WILLIAMS AT BLOSSOM LLC 1600 HAMPTON STREET NO 814 COLUMBIA SC 29208 REAL ESTATE INVESTMENT SC 77305 3921317 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 -863588 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 University of south carolina EDUCATIONAL FOUNDATION 1600 hampton street COLUMBIA SC 29208 576017985 EDUCATION AND RESEARCH SUPPORT SC 501(C)(3) 5 N/A 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 -691874 6891950 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 12951 1603228 1.00000 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 USC HOTEL ASSOCIATES LLC I 75750 UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION E 30053898 UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION Q 307538 UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION R 506280 UNIVERSITY OF SOUTH CAROLINA I 960299 UNIVERSITY OF SOUTH CAROLINA B 890000