Francis Marion University Development Foundation

Organization Overview

Francis Marion University Development Foundation is located in Florence, SC. The organization was established in 2004. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Francis Marion University Development Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Francis Marion University Development Foundation generated $6.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $5.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Francis Marion University Development Foundation has awarded 20 individual grants totaling $10,180,649. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF FRANCIS MARION UNIVERSITY, SPECIFICALLY IN MANAGEMENT OF STUDENT HOUSING, OTHER REAL PROPERTY, AND ACCEPTANCE OF GIFTS AND OTHER SUPPORT AS AGREED UPON BY THE FOUNDATION'S BOARD OF DIRECTORS AND THE UNIVERSITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION, AS PART OF ITS MISSION TO SUPPORT THE UNIVERSITY, IS REQUIRED TO OPERATE, MAINTAIN, AND LEASE HOUSING FACILITIES FOR STUDENTS AND FACULTY. THE PROGRAM SERVICE IS CARRIED OUT THROUGH THE FOUNDATION'S SINGLE MEMBER FMU STUDENT HOUSING, LLC. ALL REVENUE GENERATED BY THE LLC FROM HOUSING SERVICES ARE MANAGED AND HELD BY THE FOUNDATION. HOUSING SERVICES ARE PROVIDED PRIMARILY DURING THE FALL AND SPRING SEMESTERS WITH MINOR REVENUES BEING RECEIVED FOR SUMMER SEMESTERS, FEES AND FINES AND SUMMER CAMP HOUSING FOR FMU SUMMER PROGRAMS.


THE FOUNDATION IS A PROGRAM SUPPORTED AGENCY AND ACTS IN ACCORDANCE WITH ITS NONPROFIT STATUS TO PROVIDE SUPPORT TO FRANCIS MARION UNIVERSITY. ALL DONATIONS IN KIND OR IN CASH ARE REPORTED BY THE SUPPORTED ORGANIZATION AS GIFTS FROM THE DEVELOPMENT FOUNDATION. THE DEVELOPMENT FOUNDATION PROVIDES DONATIONS TO THE EDUCATION FOUNDATION, WHICH IS A RELATED PARTY TO FRANCIS MARION UNIVERSITY.


THE FOUNDATION, AS PART OF ITS MISSION TO SUPPORT THE UNIVERSITY, IS REQUIRED TO OPERATE, MAINTAIN, AND LEASE HOUSING FACILITIES FOR STUDENTS AND FACULTY. THE PROGRAM SERVICE IS CARRIED OUT THROUGH THE FOUNDATION'S SINGLE MEMBER FMU STUDENT HOUSING, LLC. ALL REVENUE GENERATED BY THE LLC FROM HOUSING SERVICES ARE MANAGED AND HELD BY THE FOUNDATION. HOUSING SERVICES ARE PROVIDED PRIMARILY DURING THE FALL AND SPRING SEMESTERS WITH MINOR REVENUES BEING RECEIVED FOR SUMMER SEMESTERS, FEES AND FINES AND SUMMER CAMP HOUSING FOR FMU SUMMER PROGRAMS.


THE FOUNDATION IS A PROGRAM SUPPORTED AGENCY AND ACTS IN ACCORDANCE WITH ITS NONPROFIT STATUS TO PROVIDE SUPPORT TO FRANCIS MARION UNIVERSITY. ALL DONATIONS IN KIND OR IN CASH ARE REPORTED BY THE SUPPORTED ORGANIZATION AS GIFTS FROM THE DEVELOPMENT FOUNDATION. THE DEVELOPMENT FOUNDATION PROVIDES DONATIONS TO THE EDUCATION FOUNDATION, WHICH IS A RELATED PARTY TO FRANCIS MARION UNIVERSITY.


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Board, Officers & Key Employees

Name (title)Compensation
Erika Cook
Executive Director
$0
Jay Kispert
Chairman
$0
Floyd Keels
Board Member
$0
James Harrell
Board Member
$0
Darryl Bridges
Board Member
$0
Cathy Frederick
Board Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Quality Service Company Llc
Hvac Services
$153,900
Johnson Controls Inc
Hvac Services
$145,043
Time Warner Cable
Tv Services
$101,907
Pentarisk Associates Of Georgia
Insurance Services
$133,588
Quality Service Company Llc
Hvac Services
$153,900
Johnson Controls Inc
Hvac Services
$145,043
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$637,637
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$637,637
Total Program Service Revenue$5,918,529
Investment income $31,181
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,587,347

Grants Awarded

Over the last fiscal year, Francis Marion University Development Foundation has awarded $1,007,882 in support to 4 organizations.

Grant RecipientAmount

FRANCIS MARION UNIVERSITY

PURPOSE: UNIVERSITY SUPPORT

$283,026

FRANCIS MARION UNIVERSITY

PURPOSE: UNIVERSITY SUPPORT

$283,026

FMU EDUCATION FOUNDATION

Org PageRecipient Profile

Florence, SC

PURPOSE: UNIVERSITY SUPPORT

$220,915

FMU EDUCATION FOUNDATION

Org PageRecipient Profile

Florence, SC

PURPOSE: UNIVERSITY SUPPORT

$220,915
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Francis Marion University Development Foundation has recieved totaling $4,000.

Awarding OrganizationAmount
The Community Fdn Of Middle Tn Inc

Nashville, TN

PURPOSE: EDUCATION

$4,000
View Grant Recipient Profile

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