University Of South Carolina Business Partnership Foundation
- Assets
- $128.0m
- Revenue
- $18.0m
- Investments
- $120.7m
- Employees
- 11
- Location
- Columbia, SC
- Founding
- 10/1969
- Data as of
- 06/2022
- EIN
- 23-7042391
Organization Overview
University Of South Carolina Business Partnership Foundation is located in Columbia, SC. The organization was established in 1969. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, University Of South Carolina Business Partnership Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of South Carolina Business Partnership 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 06/2022, University Of South Carolina Business Partnership Foundation generated $18.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $10.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ESTABLISH CONTINUING PARTNERSHIP BETWEEN THE UNIVERSITY OF SOUTH CAROLINA AND THE BUSINESS COMMUNITY FOR THE ENHANCEMENT AND IMPROVEMENT OF THE COLLEGE OF BUSINESS ADMINISTRATION. TO SOLICIT AND RECEIVE GIFTS SUBJECT TO CONDITIONS IMPOSED THEREON FOR THE BENEFIT OF THE COLLEGE OF BUSINESS ADMINISTRATION. TO BUILD AN ENDOWMENT FUND AND SUPERVISE ITS CREATIVE MANAGEMENT. TO ASSIST IN DETERMINING APPROPRIATE PROJECTS AND TO BE FINANCED WITH FUNDS RAISED. TO ENCOURAGE AND ASSIST IN SUPPORTING RESEARCH IN BUSINESS AND ECONOMIC PROBLEMS. TO ASSIST IN CONDUCTING CONFERENCES FOR EDUCATION AND DEVELOPMENT OF MANAGEMENT PERSONNEL WORLDWIDE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUING EDUCATION: CONTINUING EDUCATION AND EDUCATIONAL PROGRAMS ACTIVITIES SEEK TO PROVIDE WORLD-CLASS BUSINESS EDUCATION TAILORED TO THE NEEDS OF OUR CUSTOMERS, BUILD CLOSER RELATIONSHIPS WITH KEY CORPORATE SUPPORTERS OF THE DARLA MOORE SCHOOL OF BUSINESS, AND TO RECRUIT AND RETAIN TOP FACULTY BY PROVIDING PROFESSIONAL DEVELOPMENT OPPORTUNITIES. THE EDUCATIONAL PROGRAMS EQUIP BUSINESS PROFESSIONALS WITH KNOWLEDGE AND SKILLS TO BETTER PERFORM THEIR JOBS AND DEVELOP MANAGERS TO LEAD MORE EFFECTIVELY.
ACADEMIC SUPPORT: THE FOUNDATION PROVIDES DEPARTMENTS WITH THE RESOURCES NEEDED TO ENGAGE IN BUSINESS RESEARCH, RECRUIT AND RETAIN FACULTY, HOST VISITING PROFESSORS, FUND DISTINGUISHED CHAIRS, AND ENGAGE IN OTHER INITIATIVES DESIGNED TO ENHANCE THE EDUCATION AND ACTIVITIES OF THE STUDENTS AS WELL AS THE REPUTATION OF THE DARLA MOORE SCHOOL OF BUSINESS.
SCHOLARSHIPS AND STUDENT ASSISTANCE: THE FOUNDATION UTILIZES ENDOWMENTS AND OTHER FUNDS TO PROVIDE SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS OF THE DARLA MOORE SCHOOL OF BUSINESS IN ORDER TO AWARD HIGH ACHIEVING SCHOLARS AND ATTRACT THEM TO THE SCHOOL, ASSIST UNDERREPRESENTED AND UNDERSERVED STUDENTS IN ACCESSING AN EDUCATION AT THE DARLA MOORE SCHOOL OF BUSINESS, PROVIDE STUDY ABROAD OPPORTUNITIES, AND OTHERWISE SUPPORT STUDENTS BY ENRICHING THEIR COLLEGE EDUCATION AND MAKING IT MORE AFFORDABLE.
EXTERNAL RELATIONS: THE FOUNDATION SUPPORTS THE DARLA MOORE SCHOOL OF BUSINESS IN CONDUCTING CONFERENCES, SEMINARS, AND MANAGEMENT PROGRAMS TO FURTHER THE EDUCATION, DEVELOPMENT AND EFFECTIVENESS OF BUSINESS PROFESSIONALS AND SCHOLARS WORLDWIDE. ENGAGES ALUMNI OF THE DARLA MOORE SCHOOL OF BUSINESS THROUGH EVENTS, LEADERSHIP RECOGNITION AWARDS, AND THROUGH THE CREATION OF A BOARD OF ADVISORS TO THE FOUNDATION. EXTERNAL RELATIONS PROGRAMS ALSO FOCUS ON OUTREACH TO THE BUSINESS COMMUNITY TO STRENGTHEN AND EXPAND PARTNERSHIPS FOR THE BENEFIT OF THE DARLA MOORE SCHOOL OF BUSINESS THROUGH THE BOARD OF TRUSTEES AND BOARD OF ADVISORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Cecchini President - Corporate Solutions | 40 | $183,000 | |
Jean E Duke Secretary/president | Officer | 40 | $164,557 |
David Parker Vice President | Officer | 40 | $153,527 |
Josh Hubbard Director Of Accounting Through 6/2022 | 40 | $106,801 | |
Iris N Griffin Treasurer | OfficerTrustee | 2 | $0 |
D Roger Nanney Chair | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kenneth Carrig Advisory Services | 6/29/22 | $161,667 |
Mark Cecchini Instructor Fees | 6/29/22 | $136,000 |
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 | $5,244,423 |
| Noncash contributions included in lines 1a–1f | $192,795 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,244,423 |
| Total Program Service Revenue | $4,496,095 |
| Investment income | $1,507,666 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,324 |
| Net Gain/Loss on Asset Sales | $6,731,496 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,993,004 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,826,254 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $474,338 |
| Compensation of current officers, directors, key employees. | $388,957 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,400,217 |
| Pension plan accruals and contributions | $49,813 |
| Other employee benefits | $543,032 |
| Payroll taxes | $58,244 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,253 |
| Fees for services: Accounting | $24,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,875 |
| Fees for services: Other | $579,730 |
| Advertising and promotion | $265,525 |
| Office expenses | $164,888 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $139,531 |
| Travel | $360,871 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $805,794 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $45,406 |
| All other expenses | $0 |
| Total functional expenses | $10,376,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,563,056 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $321,542 |
| Accounts receivable, net | $1,364,461 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $44,404 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $120,667,218 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $84,311 |
| Total assets | $128,044,992 |
| Accounts payable and accrued expenses | $1,010,219 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,010,219 |
| Net assets without donor restrictions | $61,910,358 |
| Net assets with donor restrictions | $65,124,415 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $128,044,992 |
Grants Awarded
Over the last fiscal year, University Of South Carolina Business Partnership Foundation has awarded $3,750,011 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF SOUTH CAROLINA PURPOSE: SUPPORT THE UNIVESITY OF SOUTH CAROLINA | $3,332,081 |
Columbia, SC PURPOSE: SUPPORT THE UNIVERSITY OF SOUTH CAROLINA | $417,930 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that University Of South Carolina Business Partnership Foundation has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Charles Timmons Foundation Wilmington, DE PURPOSE: TIMMONS FAMILY SCHOLARSHIP FOR RUM PROGRAM | $5,000 |
Awt Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Endowment Analysis
| Beg. Balance | $134,027,846 |
| Earnings | -$21,486,515 |
| Net Contributions | $506,560 |
| Other Expense | $1,924,102 |
| Ending Balance | $111,123,789 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dumac Inc Durham, NC | $16,829,525 | $22,034,082 |
University Of South Carolina Business Partnership Foundation Columbia, SC | $128,044,992 | $17,993,004 |
Francis Marion University Development Foundation Florence, SC | $27,042,578 | $6,587,347 |
Georgia Charter Schools Association Inc Atlanta, GA | $3,275,551 | $3,963,375 |
South Carolina Universities Research And Education Foundation Aiken, SC | $556,555 | $2,208,324 |
South Carolina First Steps To School Readiness Board Of Trustees Greenwood, SC | $426,843 | $2,213,711 |
Henderson County Alliance For Education Hendersonville, NC | $2,111,025 | $2,100,131 |
Renaissance West Community Initiative Charlotte, NC | $9,550,833 | $4,133,933 |
South Carolina State University Real Estate Foundation Inc Orangeburg, SC | $6,877,276 | $1,311,398 |
Gpf Woodson Park Nmtc Inc Atlanta, GA | $32,334,183 | $1,809,363 |
North Carolina Public Library Directors Association Hendersonville, NC | $362,801 | $1,419,864 |
Parents For Educational Freedom In North Carolina Inc Raleigh, NC | $777,909 | $1,211,027 |