2024-11-15T11:38:44-06:00 2024-06-30 570381582 ELLIOTT DAVIS LLCPLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2023-07-01 570881347 SOUTH CAROLINA GOVERNORS SCHOOL FOR SCIENCE & MATHEMATICS FOUNDATION INC SOUT 8032529152 2711 MIDDLEBURG DRIVE 205 COLUMBIA SC 29204 MARY M GENTRY TREASURER 8032529152 2024-11-15 1 1 JANICE A RATICA P00358837 7043338881 2024-11-14 2023 2024-10-15 13:58:12Z MARY M GENTRY 2711 MIDDLEBURG DRIVE 205 COLUMBIA SC 29204 1969481 0 X WWW.SCGSSM.ORG/SUPPORT/GSSM-FOUNDATION-BOARD X 1990 SC THE FOUNDATION ADVOCATES FOR THE SOUTH CAROLINA GOVERNOR'S SCHOOL OF SCIENCE & MATHEMATICS AND PROVIDES FUNDS AND SUPPORT TO ENHANCE ITS PROGRAMS AND EDUCATIONAL ENDEAVORS. 35 35 5 35 0 0 985921 1501959 0 11123 369072 403158 -98949 -76857 1256044 1839383 0 0 0 0 501954 545670 0 0 90659 840535 829192 1342489 1374862 -86445 464521 13970033 15920766 143291 148964 13826742 15771802 X THE FOUNDATION SUPPORTS THE SC SCHOOL FOR SCIENCE & MATHEMATICS (GSSM) BY GIVING VOICE TO ITS NEEDS, PROVIDING SUPPLEMENTAL FUNDS TO AUGMENT ITS PROGRAMS, AND INFORMING THE PUBLIC OF ITS ACCOMPLISHMENTS AND CONTRIBUTIONS TO THE QUALITY OF LIFE AND ECONOMIC PROSPERITY OF SOUTH CAROLINA. 0 0 1140027 11843 GSSM SERVES OVER 9,000 ANNUALLY THROUGHOUT SOUTH CAROLINA WITH PROGRAMS FOR STUDENTS IN 3RD THROUGH 12TH GRADES, AS WELL AS PROVIDING PROFESSIONAL DEVELOPMENT TO TEACHERS. THE GSSM FOUNDATION RAISES PRIVATE FUNDS TO ENSURE THAT ALL QUALIFIED STUDENTS CAN PARTICIPATE, REGARDLESS OF ABILITY TO PAY. THIS PROGRAM SUPPORT INCLUDES FINANCIAL ASSISTANCE FOR RESIDENTIAL STUDENTS AND SUMMER CAMPERS, PROGRAM MATERIALS FOR OUTREACH WITHIN THE PUBLIC SCHOOLS, ACADEMIC CLUBS AND COMPETITIONS, AND FUNDS TO SUPPORT RESEARCH, AND INTERNATIONAL EXPERIENCES AND LEARNING. THESE EXPENSES ALSO INCLUDE AN ALLOCATION OF THE FOUNDATION SALARY EXPENSE REPRESENTING THE WORK THE FOUNDATION STAFF DOES FOR THESE PROGRAMS. GSSM HAS BEEN NAMED THE K-12 EDUCATION & WORKFORCE CENTER PROVIDER FOR THE SC NEXUS PROJECT FOR ADVANCED ENERGY RESILIENCY. BY SUMMER 2025, GSSM WILL BE TEACHING AN ADVANCED ENERGY CURRICULUM IN ALL 3RD 12TH GRADE PROGRAMS. IN ADDITION, GSSM STUDENTS ARE PARTICIPATING IN SERVICE-LEARNING TRIPS THROUGH MEDLIFE, A NON-PROFIT ORGANIZATION THAT PARTNERS WITH LOW-INCOME COMMUNITIES IN LATIN AMERICA AND AFRICA TO IMPROVE ACCESS TO MEDICINE, EDUCATION, AND COMMUNITY DEVELOPMENT PROJECTS. IN 2022, THE GSSM FOUNDATION RAISED FUNDS TO PURCHASE A HYDROPONIC RESEARCH LAB, WHICH UNITES SOUTH CAROLINA'S RICH AGRICULTURAL HERITAGE WITH ITS HIGH-TECH MANUFACTURING EXPERTISE IN ONE INNOVATIVE PLATFORM, WHICH CONNECTS STUDENTS OF ALL AGES TO GSSM'S PROWESS IN SCIENTIFIC RESEARCH. THE LAB IS A HANDS-ON TEACHING TOOL FOR CLASSES ACROSS THE STEM SPECTRUM: BIOLOGY, CHEMISTRY, BOTANY, ENVIRONMENTAL SCIENCE, COMPUTER SCIENCE, ENGINEERING, ROBOTICS, AND ECONOMICS. EACH YEAR, STUDENTS ENGAGE IN REAL-WORLD RESEARCH PROJECTS, INCLUDING TESTING GROWTH PARAMETERS, IDENTIFYING GENETIC VARIATIONS IN PLANTS, STUDYING WATER AND NUTRIENT-USE EFFICIENCY, INTEGRATING ROBOTICS AND AUTOMATION TO MANAGE GROWING CONDITIONS, AND INVESTIGATING THE ECONOMICS OF HYDROPONICS. 1140027 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 5 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 35 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 SC X X STACY MCCLOGHRY 8032529152 2711 MIDDLEBURG DRIVE 205 COLUMBIA SC 29204 ANDREW ETKIND MEMBER 1.00 X 0 0 0 ASHLEY DAUGHERTY MEMBER 1.00 X 0 0 0 BECKY ASKINS MEMBER 1.00 X 0 0 0 BRAD ALEXANDER MEMBER 1.00 X 0 0 0 BRIAN BURKHART MEMBER 1.00 X 0 0 0 BRIAN FAST MEMBER 1.00 X 0 0 0 DANNY DORSEL MEMBER 1.00 X 0 0 0 DEBORAH D LOCKLAIR MEMBER 1.00 X 0 0 0 DOUGLAS KIM MEMBER 1.00 X 0 0 0 S WILLING KING MEMBER 1.00 X 0 0 0 JEFF GILL MEMBER 1.00 X 0 0 0 JANE CAMPBELL MEMBER 1.00 X 0 0 0 CONNIE CAIN MEMBER 1.00 X 0 0 0 L BAILES BROWN MEMBER 1.00 X 0 0 0 JUN XU MEMBER 1.00 X 0 0 0 JAMES W APPLE MEMBER 1.00 X 0 0 0 MARK GIULIANI MEMBER 1.00 X 0 0 0 MARY MORTON BELL MEMBER 1.00 X 0 0 0 MICHELE PRIDGEN MEMBER 1.00 X 0 0 0 ROBERT J BROWN MEMBER 1.00 X 0 0 0 SARAH P SPRUILL MEMBER 1.00 X 0 0 0 SUZANA CIZMIC MEMBER 1.00 X 0 0 0 TANUJA GARDE MEMBER 1.00 X 0 0 0 WILSON WHITE MEMBER 1.00 X 0 0 0 NICOLE FLIPPIN MEMBER 1.00 X 0 0 0 W ANTHONY JACKSON MEMBER 1.00 X 0 0 0 DOUGLAS SHANNON MEMBER 1.00 X 0 0 0 ANN F TRAPP MEMBER 1.00 X 0 0 0 BRIGID V TROAN MEMBER 1.00 X 0 0 0 MARCI TUTEN MEMBER 1.00 X 0 0 0 HEATHER SRULEVICH PAST PRESIDENT 1.00 X X 0 0 0 MICHAEL M SHETTERLY PRESIDENT 1.00 X X 0 0 0 JAMES P ROURKE SECRETARY 1.00 X X 0 0 0 MARY GENTRY TREASURER 1.00 X X 0 0 0 PATRICK J CLEARY VICE PRESIDENT 1.00 X X 0 0 0 ELIZABETH DINNDORF EXECUTIVE DIRECTOR 37.50 X 170137 0 6243 170137 0 6243 1 0 1 0 0 156057 1345902 1501959 SEMINAR FEES 900099 11123 11123 11123 405514 405514 33130 35261 225 -2131 -225 -2356 -2356 17035 156057 94612 -77577 -77577 MISCELLANEOUS INCOME 611710 720 720 720 1839383 11843 0 325581 X 170137 122824 24855 22458 276100 199320 40335 36445 10668 7734 1547 1387 55109 39954 7991 7164 33656 24401 4880 4375 33130 33130 43089 3948 38599 542 11264 9362 1902 27668 20433 3359 3876 20517 16694 960 2863 21984 14729 4177 3078 38323 27784 5557 4982 9304 6745 1349 1210 5091 2102 2612 377 PROGRAM EXPENSES 610867 610867 7955 7955 1374862 1140027 144176 90659 480243 529138 304002 555091 68792 119098 4550 6023 14862 13148 1824 1714 12798870 14650625 311752 59077 13970033 15920766 51037 63380 21098 92254 64486 143291 148964 X 309430 393925 13517312 15377877 13826742 15771802 13970033 15920766 464521 1478871 1668 0 X X 0 1 X 1 0 X 617895 819925 956285 806221 1501959 4702285 617895 819925 956285 806221 1501959 4702285 535234 4167051 281469 240456 286968 292250 405514 1506657 563 3066 1420 73 720 5842 6214784 11123 0.67050 0.69200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13251688 107242 1801996 35108 15125820 12089407 154601 1321015 313335 13251688 14121742 31190 -1976565 86960 12089407 11481574 43268 3104051 507151 14121742 11289729 906 649932 458993 11481574 0.02287 0.66805 0.30906 0 0 1044 1044 0 13818 12104 1714 1714 EQUITY SECURITIES 14650625 F 14650625 LEASE LIABILITY 64486 64486 X 3381404 1478871 1668 94612 1575151 1806253 33130 33130 1839383 1436344 94612 94612 1341732 33130 33130 1374862 PART X, LINE 2: ACCOUNTING PRINCIPLES 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 NOT 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, 2024 AND 2023, 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. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED AGAINST FUNDRAISING REVENUE 94,612. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED AGAINST FUNDRAISING REVENUE 94,612. TOWNES AWARD 113514 110042 3472 12269 26859 14839 AROUND THE WORLD 59578 46015 13563 18942 15914 5789 173092 156057 17035 31211 42773 20628 94612 -77577 X 0 0 0 0 0 0 0 0 0 ELIZABETH DINNDORF EXECUTIVE DIRECTOR 170137 0 0 0 0 0 5104 0 1139 0 176380 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT IS REVIEWED BY THE TREASURER AND THE FINANCE COMMITTEE. AFTER THEY COMPLETE THEIR REVIEW, THE DRAFT IS SENT TO THE ENTIRE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICTS OF INTEREST POLICY IS REVIEWED AND ACKNOWLEDGED BY ALL BOARD MEMBERS ON AN ANNUAL BASIS. IF A POTENTIAL CONFLICT ARISES DURING THE YEAR, THE INTERESTED BOARD MEMBER SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15A THE PERFORMANCE OF THE FOUNDATION'S EXECUTIVE DIRECTOR IS REVIEWED ANNUALLY BY THE PRESIDENT OF THE SOUTH CAROLINA GOVERNOR'S SCHOOL OF SCIENCE & MATHEMATICS. UPON COMPLETION OF THIS PERFORMANCE REVIEW, THE PERSONNEL COMMITTEE OF THE FOUNDATION REVIEWS THE EXECUTIVE DIRECTOR'S ACTIVITIES AND ACCOMPLISHMENTS AS WELL AS PROGRESS MADE WITH RESPECT TO THE FOUNDATION'S FINANCIAL AND ORGANIZATIONAL GOALS. COMPENSATION RANGES ARE DETERMINED BASED ON THE SALARY OF PROFESSIONALS IN SIMILARLY-SITUATED POSITIONS. RELYING UPON ON ALL OF THIS INFORMATION, THE PERSONNEL COMMITTEE MAKES A RECOMMENDATION FOR THE EXECUTIVE DIRECTOR'S ANNUAL COMPENSATION WHICH IS APPROVED BY THE BOARD OF DIRECTORS. THE DECISION IS DOCUMENTED. COMPENSATION FOR OTHER KEY EMPLOYEES IS BASED UPON PERFORMANCE REVIEWS CONDUCTED BY THE EXECUTIVE DIRECTOR AND INCLUDED IN THE ANNUAL BUDGET APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAINTAINS COPIES OF THEIR GOVERNING DOCUMENTS, EXEMPTION APPLICATION, ANNUAL FINANCIAL STATEMENTS AND ANNUAL FORM 990 IN THEIR OFFICE, AND THESE ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. FORM 990, PART IX: CERTAIN AMOUNTS IN THE 2023 FINANCIAL STATEMENTS HAVE BEEN RECLASSIFIED TO BE CONSISTENT WITH CURRENT YEAR PRESENTATION. THESE RECLASSIFICATIONS HAD NO EFFECT ON THE FOUNDATION'S FINANCIAL POSITION OR CHANGES IN NET ASSETS. ONE SUCH RECLASSIFICATION AFFECTED THE FOUNDATION'S STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED JUNE 30, 2023. OVER THE LAST FEW YEARS, THE SUPPORT PROVIDED BY THE FOUNDATION TO THE SCHOOL HAS EVOLVED. THE SCHOOL HAS INCREASED ITS RECRUITING, MARKETING AND ADMISSIONS ACTIVITIES, AND THE FOUNDATION'S FOCUS HAS SHIFTED PRIMARILY TO RAISING FUNDS FOR THE SCHOOL. FOR THE YEAR ENDED JUNE 30, 2023, THE FOUNDATION ALLOCATED THE TIME AND EFFORT SPENT RAISING FUNDS FOR THE SCHOOL BETWEEN FUNDRAISING AND MANAGEMENT AND GENERAL EXPENSE. DURING THE YEAR ENDED JUNE 30, 2024, THE FOUNDATION DETERMINED THAT THE COST OF RAISING THE FUNDS FOR THE SCHOOL IS BETTER REFLECTED AS A PROGRAM EXPENSE. THE STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED JUNE 30, 2023 HAS BEEN REVISED TO REFLECT THIS CHANGE. MANAGEMENT BELIEVES THIS IS A MORE ACCURATE REPRESENTATION OF THE FOUNDATION'S EXPENSE ON A FUNCTIONAL BASIS. PROGRAM SERVICES TOTAL FOR YEAR ENDING 6/30/2023 (REVISED): $1,068,058 MANAGEMENT AND GENERAL TOTAL FOR YEAR ENDING 6/30/2023 (REVISED): $ 147,645 FUNDRAISING TOTAL FOR YEAR ENDING 6/30/2023 (REVISED): $ 209,223 FORM 990, PART XII, LINE 2C THE FINANCE COMMITTEE OVERSEES THE AUDIT PROCESS. SC GOVERNOR'S SCHOOL FOR SCIENCE AND MATHEMATICS 401 RAILROAD AVENUE HARTSVILLE SC 29550 EDUCATION SC IRC 115 N/A N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 SC GOVERNOR'S SCHOOL FOR SCIENCE AND MATHEMATICS Q 46872 FMV SC GOVERNOR'S SCHOOL FOR SCIENCE AND MATHEMATICS R 384918 FMV