Greenville Tech Foundation Inc in Greenville, South Carolina (SC)

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Greenville Tech Foundation Inc
Employer Identification Number (EIN)570565961
Name of OrganizationGreenville Tech Foundation Inc
AddressPO BOX 5616, Greenville, SC 29606-5616
ActivitiesScholarships (other), Gifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date08/1974
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$34,471,056
Amount of Income$8,855,033
Form 990 Revenue Amount$6,270,138
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2013: $8,855,033
Greenville Tech Foundation Inc: 

 $8,855,033
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2013: $34,471,056
Greenville Tech Foundation Inc: 

 $34,471,056
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2013: $5,684,614
Greenville Tech Foundation Inc: 

 $5,684,614
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2013: 1.6
Greenville Tech Foundation Inc: 

 1.6
Other organizations performing similar types of work: 

 2.5

Expenses allocated to program services in 2007: 77.5%
Greenville Tech Foundation Inc: 

 77.5%
Other organizations performing similar types of work: 

 84.4%

Grants share in income in 2013: 44.9%
This organization: 

 44.9%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoYes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?YesYes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?YesYes
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 1096363725
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return000
Did the organization file all required federal employment tax returns?NoNoNo
Did the organization have unrelated business gross income of $1,000 or more during the year?NoYesYes
Has it filed a Form 990-T for this year?NoYesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?YesYesYes
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?YesYesYes
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYesYes
Did the organization notify the donor of the value of the goods or services provided?YesYesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoYesNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?YesYesYes
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$145,100$164,231
Total reportable compensation from related organizations$257,378$267,290
Total estimated amount of other compensation from the organization and related organizations$49,159$54,325
Total number of individuals who received more than $100,000 of reportable compensation from the organization12
Total number of independent contractors who received more than $100,000 of compensation from the organization22
Statement of Revenue
201120122013
Total revenue$0$6,034,601$6,270,138
Contributions, Gifts, Grants and Other Similar Amounts$0$1,808,553$2,813,881
Program Service Revenue$0$3,406,015$2,973,311
Educational Support Services$0$2,685,617$2,236,913
Educational Support Services$0$549,398$565,398
Educational Support Services$0$171,000$171,000
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0$136,818$114,336
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$586,037$298,952
Gross rents (Real / Personal)$0 / $0$1,857,703 / $0$1,664,189 / $0
Less: rental expenses (Real / Personal)$0 / $0$1,271,666 / $0$1,365,237 / $0
Rental income or (loss) (Real / Personal)$0 / $0$586,037 / $0$298,952 / $0
Net gain/loss from sales of assets other than inventory$0$313,131$127,575
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0$3,274,650 / $0$1,049,733 / $215,000
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0$2,961,519 / $0$953,136 / $184,022
Gain or (loss) (Securities / Other)$0 / $0$313,131 / $0$96,597 / $30,978
Net income/loss from fundraising events$0$-242,930$-78,500
Gross income from fundraising events$0$13,019$4,000
Less: direct expenses$0$255,949$82,500
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$0$26,977$20,583
Educational Support Services$0$17,496$21,531
532000$0$9,481$-948
All other revenue$0$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$0$5,053,045$5,684,614
Grants and other assistance to domestic organizations and domestic governments$0$0$0
Grants and other assistance to domestic individuals$0$350,559$352,737
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$0$202,599$222,833
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$0$131,233$115,880
Pension plan accruals and contributions$0$0$0
Other employee benefits$0$36,032$46,341
Payroll taxes$0$0$0
Fees for services (non-employees)
Management$0$0$0
Legal$0$0$5,885
Accounting$0$0$30,602
Lobbying$0$0$27,000
Professional fundraising services$0$0$0
Investment management fees$0$44,214$46,112
Other$0$0$15,377
Advertising and promotion$0$0$0
Office expenses$0$0$0
Information technology$0$0$0
Royalties$0$0$0
Occupancy$0$12,270$12,240
Travel$0$0$0
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$0$0$0
Interest$0$1,274,055$953,023
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$0$718,451$720,090
Insurance$0$0$0
Other expenses$0$1,307,260$1,470,163
Other expenses$0$540,111$1,330,276
Other expenses$0$67,141$38,011
Other expenses$0$18,854$17,111
Other expenses$0$350,266$280,933
Balance Sheet
201120122013
Total assets$0$33,972,676$34,471,056
Cash - non-interest-bearing$0$791,568$889,418
Savings and temporary cash investments$0$1,066,785$1,252,061
Pledges and grants receivable, net$0$439,855$386,486
Accounts receivable, net$0$67,753$70,312
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$2,957$9,245
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$34,155$26,349
Land, buildings, and equipment: cost or other basis$0$27,116,234$26,318,029
Investments - publicly traded securities$0$4,029,919$4,950,853
Investments - other securities$0$0$0
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$0$423,450$568,303
Total liabilities$0$25,247,876$22,530,860
Accounts payable and accrued expenses$0$172,624$188,488
Grants payable$0$47,461$0
Deferred revenue$0$0$0
Tax-exempt bond liabilities$0$8,000,000$7,850,000
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$0$13,215,000$12,817,000
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0$3,812,791$1,675,372
Total net assets or fund balances$0$8,724,800$11,940,196
Unrestricted net assets$0$3,115,434$5,276,509
Temporarily restricted net assets$0$1,720,486$1,688,566
Permanently restricted net assets$0$3,888,880$4,975,121
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$8,512,591
Subtotal Support$8,770,735
Gifts, grants, contributions, and membership fees received$8,770,735
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$258,144
Total Support$17,723,407
Public Support$8,770,735
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$8,555,748
Net income from unrelated business activities, whether or not the business is regularly carried on$16,548
Other income. Do not include gain or loss from the sale of capital assets$380,376
Gross receipts from related activities, etc.$13,893,896
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$1,550,034$1,552,525$3,612,602$1,131,872$2,029,334$2,082,350$3,935,839$4,872,766
Contributions, gifts, grants, and similar amounts received$1,473,802$1,524,001$3,944,732$1,008,332$1,716,910$1,245,456$1,592,625$1,843,198
Contributions to donor advised funds$0$0
Direct public support$1,473,802$1,455,516$3,805,666$830,394$1,645,549$1,191,322$1,534,830$1,843,198
Indirect public support$0$68,485$139,066$137,438$71,361$54,134$57,795$0
Government contributions (grants)$0$0$0$40,500$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$1,421,373$2,055,359
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$91,023$69,459$59,909$71,524$106,160$455,943$363,317$317,028
Dividends and interest from securities$0$0$0$0$0$0$0$0
Net rental income or (loss)$-42,847$207,190$-351,097$-56,866$1,308$71,274$195,200$652,315
Gross rents$353,198$364,500$413,129$809,471$1,070,116$1,158,591$1,240,687$1,562,214
Less: rental expenses$396,045$157,310$764,226$866,337$1,068,808$1,087,317$1,045,487$909,899
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-951$-264,950$-83,450$77,686$168,951$242,092$318,169$-179,667
Gross amount from sales of assets other than inventory$0$0$376,694$1,574,565$3,119,732$2,607,205$1,883,048$1,703,941
Less: cost or other basis and sales expenses$951$264,950$460,144$1,496,879$2,950,781$2,365,113$1,564,879$1,883,608
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$29,007$16,825$42,508$31,196$36,005$67,585$45,155$184,533
Total expenses$865,369$1,089,643$1,158,797$1,166,822$1,428,100$2,148,588$3,693,389$5,795,900
Program services$800,110$847,029$765,012$700,969$936,980$1,795,133$3,314,490$4,490,285
Management and general$39,788$189,618$324,736$399,703$465,406$348,896$372,088$1,269,364
Fundraising$25,471$52,996$69,049$66,150$25,714$4,559$6,811$36,251
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$6,537,560$6,817,696$9,573,165$9,847,127$10,497,759$10,563,917$11,025,920$10,184,146
Excess or (deficit) for the year$684,665$462,882$2,453,805$-34,950$601,234$-66,238$242,450$-923,134
Net assets or fund balances at beginning of year$6,138,718$6,537,560$6,817,696$9,573,165$9,847,127$10,497,759$10,563,917$11,025,920
Other changes in net assets or fund balances$-285,823$-182,746$301,664$308,912$49,398$132,396$219,553$81,360
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$5,795,900$4,490,285$1,269,364$36,251
Grants paid from donor advised funds$0
Other grants and allocations$262,469
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$9,498$9,498$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$57,309$0$57,309$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$4,000$0$3,000$1,000
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$9,532$0$9,532$0
Interest$836,718$836,718$0$0
Depreciation, depletion, etc.$655,699$655,699$0$0
Other expenses not covered above$3,960,675$2,725,901$1,199,523$35,251
Balance Sheets
20002001200220032004200520062007
Total assets$7,825,745$8,037,019$14,426,402$14,225,714$14,478,847$33,350,873$31,805,725$31,521,776
Cash - non-interest-bearing$55,221$0$0$0$730,792$237,842$264,361$0
Savings and temporary cash investments$290,000$485,278$431,296$469,630$0$9,983,636$985,540$1,125,501
Accounts receivable less allowance for doubtful accounts$153,125$110,648$105,591$41,604$0$24,076$137,639$0
Pledges receivable less allowance for doubtful accounts$977,961$1,349,122$930,398$718,184$829,465$686,356$496,176$331,171
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$170,000$2,921$9,449$6,904$4,790$4,925$2,680$5,111
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$913$1,061$1,252$15,664$15,510$16,184$15,238$23,876
Investments - publicly-traded securities$5,187,107$5,237,800
Investments - other securities$0$0$2,761,434$3,559,417$4,341,930$4,464,589$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$7,197,386$15,376,516$22,589,541$0
Investments - other$2,198,764$2,305,595$75,550$87,441$14,459$16,221$1,020,080$1,221,007
Land, buildings, and equipment less accumulated depreciation$3,378,353$3,364,716$7,139,901$7,238,518$0$0$0$22,396,131
Other assets, including program-related investments$601,408$417,678$2,971,531$2,088,352$1,344,515$2,540,528$1,107,363$1,181,179
Total liabilities$1,288,185$1,219,323$4,853,237$4,378,587$3,981,088$22,786,956$20,779,805$21,337,630
Accounts payable and accrued expenses$151,443$233,959$106,515$60,672$79,487$1,973,770$264,418$684,744
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$456,600$498,024$490,821
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$16,300,000$16,300,000$16,300,000
Mortgages and other notes payable$1,125,633$975,506$4,715,786$4,287,402$3,860,634$4,000,203$3,594,156$3,199,165
Other liabilities$11,109$9,858$30,936$30,513$40,967$56,383$123,207$662,900
Total liabilities and net assets/fund balances$7,825,745$8,037,019$14,426,402$14,225,714$14,478,847$33,350,873$31,805,725$31,521,776
Total net assets or fund balances$6,537,560$6,817,696$9,573,165$9,847,127$10,497,759$10,563,917$11,025,920$10,184,146
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$1,550,034$1,552,525$3,612,602$1,131,872$2,029,334$2,082,350$3,935,839$4,872,766
Total revenue, gains, and other support per audited financial statements$1,661,207$1,527,089$4,678,492$2,297,121$3,147,540$3,302,063$4,993,958$6,043,692
Other expenses$110,222$-25,436$1,065,890$1,179,368$1,118,206$1,219,713$1,058,119$1,170,926
Net unrealized gains on investments$0$0$153,751$313,031$73,676$143,361$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$110,222$-25,436$912,139$866,337$1,044,530$1,076,352$1,058,119$1,170,926
Other revenue$-951$0$0$14,119$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$-951$0$0$14,119$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$865,369$1,089,643$1,158,797$1,166,822$1,428,100$2,148,588$3,693,389$5,795,900
Total expenses and losses per audited financial statements$1,261,414$1,246,953$1,923,023$2,023,159$2,496,908$3,235,905$4,821,894$6,885,466
Other revenue$396,045$157,310$764,226$866,337$1,068,808$1,087,317$1,128,505$1,574,234
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$396,045$157,310$764,226$866,337$1,068,808$1,087,317$1,128,505$1,574,234
Other expenses$0$0$0$10,000$0$0$0$484,668
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$10,000$0$0$0$484,668
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
0$73,550$12,979$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20065
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$3,209,235$-179,667
Program service revenue
Program service revenue 1000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$2,055,359$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$317,029$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Income from mortgaged real property owned by: a school described in section 170(b)(1)(A)(ii); a section 509(a)(3) affiliated support organization of such a school; a section 501(c)(25) organization, or by a partnership in which any of the above organizations owns an interest if the requirements of section 514(c)(9)(B)(vi) are met (section 514(c)(9))$652,315$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$-179,667
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$184,533$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
999999999100%$0$0
999999999100%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType I
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
570420667No$0
571066272Greenville Technical Charter High SchoolNo$0
Total$0
Support Schedule
19992000200120022003200420052006
Total$1,220,206$1,702,809$0$0$0$0$0$0
Gifts, grants, and contributions received$1,116,891$1,236,743$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$75,339$444,221$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$27,976$21,845$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1University Of South Carolina Educational Foundation1600 Hampton Street Ste 814, Columbia, SC 29208-3403SC1962-02$80,686,353
2Citadel Foundation171 Moultrie St, Charleston, SC 29409-0001SC1964-08$50,002,064
3University Of South Carolina Development Foundation1600 Hampton St Ste 814, Columbia, SC 29208-3403SC1966-03$11,891,841
4Clemson University Research FoundationPO BOX 946, Clemson, SC 29633-0946SC1983-04$9,781,133
5Greenville Tech Foundation IncPO BOX 5616, Greenville, SC 29606-5616SC1974-08$8,855,033
6Clemson University Continuing Educ And Conference Complex Corporation240 Madren Center Dr, Clemson, SC 29634-0001SC1995-12$3,632,484
7Horry-Georgetown Technical College Foundation IncorporatedPO BOX 261966, Conway, SC 29528-6066SC1979-05$1,931,425
8Friends Of Imagine International Academy Of North Texas5100 W Eldorado Parkway Ste 102-589, Mckinney, TX 75070TX2009-09$7,669,453
9Royal Arch Research Assistance IncPO BOX 128, Greenfield, IN 46140-0128IN1975-02$3,764,269
10University Metro Town Center Endowment Inc9201 University City Blvd, Charlotte, NC 28223-0001NC1982-11$1,563,501
11Fond Du Lac Area Catholic Education Foundation Inc255 County Road K, Fond Du Lac, WI 54937-8162WI2001-05$978,222
12Auld Public Library Foundation537 N Webster St, Red Cloud, NE 68970-2421NE1999-12$643,901
13Round Top Library Association IncPO BOX 245, Round Top, TX 78954-0245TX1999-10$221,005
14Uu World Of Children1135 State Park Rd, Greenville, SC 29609-1518SC2007-04$215,918
15Gandhi Medical College Global Alliance Inc540 Morningside Drive, Crown Point, IN 46307IN2006-04$149,058
16Rockenbaugh Elementary School Parent Teacher Organization700 Chaucer Ct, Southlake, TX 76092-8926TX1999-02$120,008
17Stamford High School Band Parents Association IncPO BOX 4574, Stamford, CT 06907-0574CT2007-08$93,413
18Franklin Elementary School District Education FoundationPO BOX 1625, Yuba City, CA 95992-1625CA2009-09$67,966
19Dewitt High School Panthers Football Touchdown ClubPO BOX 348, Dewitt, MI 48820-0348MI2008-08$63,681
20Waterford Elementary School Parent- Teacher OrganizationPO BOX 228, Waterford, VA 20197-0228VA1999-03$48,662
Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701

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