2024-02-20T15:40:38-06:00 2023-06-30 440160260 FORVIS LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2022-07-01 570967350 SOUTH CAROLINA RESEARCH FOUNDATION SOUT 8037778411 915 BULL ST OSBORNE ADMIN BLDG 202 COLUMBIA SC 29208 KELLY EPTING CFO 8037778411 2024-02-20 1 KELLY EPTING 999009999 1 AMY BIBBY P00445891 8282542254 2024-02-20 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z GAMECOCK IHUB KELLY EPTING 915 BULL ST OSBORNE ADMIN BLDG 202 COLUMBIA SC 29208 5776984 0 X SEE SCHEDULE O X 1991 SC THE SOUTH CAROLINA RESEARCH FOUNDATION OPERATES FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTH CAROLINA, MEDICAL UNIVERSITY OF SOUTH CAROLINA, CLEMSON UNIVERSITY, PRISMA HEALTH, AND SPARTANBURG REGIONAL HEALTH SYSTEM INCLUDING BUT NOT LIMITED TO PROMOTING, ENCOURAGING, AND AIDING SCIENTIFIC RESEARCH AND INVESTIGATION. 9 5 0 0 0 0 0 0 5813160 5776984 0 0 0 0 5813160 5776984 98330 0 0 0 24000 113198 0 0 0 5614991 5607829 5737321 5721027 75839 55957 3435168 3090852 3155565 2755292 279603 335560 X THE SOUTH CAROLINA RESEARCH FOUNDATION OPERATES FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTH CAROLINA, MEDICAL UNIVERSITY OF SOUTH CAROLINA, CLEMSON UNIVERSITY, PRISMA HEALTH, AND SPARTANBURG REGIONAL HEALTH SYSTEM INCLUDING BUT NOT LIMITED TO PROMOTING, ENCOURAGING, AND AIDING SCIENTIFIC RESEARCH AND INVESTIGATION. 0 0 5250386 5776984 THE SOUTH CAROLINA RESEARCH FOUNDATION OPERATES FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTH CAROLINA, MEDICAL UNIVERSITY OF SOUTH CAROLINA, CLEMSON UNIVERSITY, PRISMA HEALTH, AND SPARTANBURG REGIONAL HEALTH SYSTEM INCLUDING BUT NOT LIMITED TO PROMOTING, ENCOURAGING, AND AIDING SCIENTIFIC RESEARCH AND INVESTIGATION. 5250386 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 26 0 1 0 0 0 0 0 0 0 0 0 0 0 X 9 5 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 1 1 1 1 0 SC X X KELLY EPTING CFO 8037777094 915 BULL ST STE 208 COLUMBIA SC 29208 AMIRIDIS MICHAEL USC PRESIDENT, 7/1/2022 - 12/31/2022 1.00 36.50 X 0 428422 0 BLACK DAVID DIRECTOR 1.00 X 0 0 0 CASKEY JASON EDUCATION FOUNDATION PRESIDENT 1.00 36.50 X 0 404230 26705 CUTLER STEPHEN USC DEAN, COLLEGE OF PHARMACY 1.00 36.50 X 0 389496 0 FREEMAN KESTER BOARD CHAIR 1.00 X 24000 0 0 FRIDRIKSSON JULIUS USC VP FOR RESEARCH 1.00 36.50 X 0 430749 0 HARDAWAY CHAD DEPUTY DIRECTOR 2.00 35.50 X X 0 162084 0 JONES DICK USC BOARD OF TRUSTEE MEMBER 1.00 X 0 0 0 PASTIDES HARRIS USC PRESIDENT, 1/1/2022 - 6/30/2022 1.00 36.50 X 0 352019 0 QUINN BOB DIRECTOR 1.00 X 0 0 0 THAMES BRENDA DIRECTOR 1.00 X 0 0 0 VASUDEVA BHAVNA DIRECTOR 1.00 X 0 0 0 KIRKLAND WILLIAM EXECUTIVE DIRECTOR 2.00 35.50 X 0 281802 0 EPTING KELLY CFO 5.60 31.90 X 0 158453 0 24000 2607255 26705 0 0 1 0 0 RESEARCH CONTRACTS 900099 5187421 5187421 MANAGEMENT FEES 900099 346974 346974 OTHER PROGRAM SERVICE 900099 242589 242589 5776984 5776984 5776984 0 0 24000 24000 89198 89198 11690 11690 76035 76035 49452 49452 9883 9883 RESEARCH AND DEVELOPMEN 5250386 5250386 USC OFFICE OF TECH. 210383 210383 5721027 5250386 470641 0 1094078 964380 1016886 472980 1324204 1653492 3435168 3090852 1273215 586471 1882350 2168821 3155565 2755292 X 279603 335560 279603 335560 3435168 3090852 55957 0 X X 0 1 X 1 1 1 X X X 1 UNIVERSITY OF SOUTH CAROLINA 576001153 2 1 235000 0 1 235000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 SCHEDULE A, PART IV, SECTION D, LINE 3 NO INVESTMENTS ARE HELD BY THE ORGANIZATION. A PORTION OF THE ORGANIZATION'S BUDGET SUPPORTS THE ACTIVITIES OF THE SUPPORTED ORGANIZATIONS, AND TO THE EXTENT THAT EXPENDITURES NEEDED TO BE REVISED OR INCREASED TO MAINTAIN THAT SUPPORT, SUCH CHANGES WERE MADE TO THE EXPENDITURES. SCHEDULE A, PART IV, SECTION E, LINE 2A SUBSTANTIALLY ALL THE ACTIVITY IN THE SCRF PERTAINED TO SUPPORTING THE UNIVERSITY OF SOUTH CAROLINA RESEARCH MISSION. ALL OF SCRF PROGRAM SERVICES (SPONSORED AWARDS TO SCRF AND CONTROLLED BY USC, $26 MILLION) AND 94% OF ITS MANAGEMENT AND GENERAL EXPENSES ($428K) WERE SPECIFIC TO USC SPONSORED PROGRAMS AND TO SUPPORT RESEARCH PERSONNEL AND ACTIVITIES AT USC. THIS CONSTITUTES 99% OF THE SCRF EXPENDITURES AND REVENUE. SCHEDULE A, PART IV, SECTION E, LINE 2B ONE OF THE PRIMARY MISSIONS OF ANY LARGE STATE RESEARCH UNIVERSITY IS TO ENGAGE IN RESEARCH. USC ENGAGES IN RESEARCH DIRECTLY WITH EXTERNAL SPONSORS AND WITH THE SUPPORT OF SCRF. IN SOME CASES, SPONSORS PREFER THE ORGANIZATIONAL FORMATION OF SCRF AND SCRF IS ABLE TO ACCOMMODATE THEM TO THE BENEFIT OF THE EXTERNAL SPONSOR AND USC. 0 5776984 0 5776984 0 5776984 5721027 0 5721027 0 5721027 1 SCHEDULE I, PART I, LINE 2 THE RESEARCH FOUNDATION AWARDS GRANTS TO THE UNIVERSITY OF SOUTH CAROLINA IN SUPPORT OF THE RESEARCH AND SCHOLARLY ACTIVITIES AT THE UNIVERSITY. UNIVERSITY FACULTY MEMBERS ARE ENCOURAGED TO SUBMIT PROPOSALS DETAILING THEIR RESEARCH OBJECTIVES. PROPOSALS MEETING THE PREDETERMINED CRITERIA ARE APPROVED FOR FUNDING BY A SELECTION COMMITTEE. INDIVIDUAL GRANT ACCOUNTS ARE ESTABLISHED FOR EACH PROPOSAL AWARDED WHICH ARE USED TO ACCUMULATE AND TRACK GRANT EXPENDITURES. GRANT EXPENDITURES ARE REVIEWED BY FOUNDATION STAFF MONTHLY. PAYMENTS TO THE UNIVERSITY ARE ON A MONTHLY COST-REIMBURSABLE BASIS, AND ONLY COVER ACTUAL COSTS INCURRED. UPON COMPLETION OF THE RESEARCH, PROGRESS REPORTS ARE SUBMITTED TO FOUNDATION MANAGEMENT DETAILING RESEARCH HIGHLIGHTS, ACCOMPLISHMENTS AND ACHIEVEMENTS. X 0 0 0 0 0 0 0 0 0 CASKEY JASON EDUCATION FOUNDATION PRESIDENT 0 353730 0 30000 0 20500 0 11938 0 14767 0 430935 0 0 FRIDRIKSSON JULIUS USC VP FOR RESEARCH 0 430749 0 0 0 0 0 0 0 0 0 430749 0 0 AMIRIDIS MICHAEL USC PRESIDENT, 7/1/2022 - 12/31/2022 0 424469 0 0 0 3953 0 0 0 0 0 428422 0 0 CUTLER STEPHEN USC DEAN, COLLEGE OF PHARMACY 0 389496 0 0 0 0 0 0 0 0 0 389496 0 0 PASTIDES HARRIS USC PRESIDENT, 1/1/2022 - 6/30/2022 0 349469 0 0 0 2550 0 0 0 0 0 352019 0 0 KIRKLAND WILLIAM EXECUTIVE DIRECTOR 0 281802 0 0 0 0 0 0 0 0 0 281802 0 0 HARDAWAY CHAD DEPUTY DIRECTOR 0 162084 0 0 0 0 0 0 0 0 0 162084 0 0 EPTING KELLY CFO 0 158453 0 0 0 0 0 0 0 0 0 158453 0 0 FORM 990, PART 1, LINE J WEBSITE: HTTPS://SC.EDU/ABOUT/OFFICES_AND_DIVISIONS/RESEARCH/ABOUT/SCRF.PHP FORM 990, PART VI, SECTION A, LINE 7A ELECTING MEMBERS OF GOVERNING BODY. THE PRESIDENT OF THE UNIVERSITY OF SOUTH CAROLINA APPOINTS AN ACADEMIC DEAN TO SERVE ON THE BOARD. ADDITIONALLY, THE USC BOARD OF TRUSTEES ALSO ELECTS ONE MEMBER TO SERVE ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE A COMMITTEE THAT ACTS ON BEHALF OF THE GOVERNING BODY FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS USED BY MANAGEMENT AND/OR GOVERNING BODY. THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND CHAIR ON BEHALF OF THE BOARD FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY CONFLICT OF INTEREST STATEMENTS ARE COLLECTED BY THE BOARD MEMBERS. THE AMOUNT OF TRANSACTIONS IS SMALL, AND THE NON-FOR-PROFIT FOUNDATIONS/GOVERNMENT AGENCIES WITH WHICH TRANSACTIONS OCCUR ARE SMALL SO THAT REVIEW CAN BE CONDUCTED MONTHLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS VERY LOW. CHAIR KESTER FREEMAN RECEIVES $24K PER YEAR. EXECUTIVE DIRECTOR HAS 5% OF HIS COMPENSATION PAID BY THE FOUNDATION. ALL EMPLOYEES ARE LEASED IN PORTION BY THE UNIVERSITY TO THE FOUNDATION, AND SALARIES MUST BE ACCEPTABLE TO STATE OF SOUTH CAROLINA. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED ON THE FOUNDATIONS'S WEBSITE AT HTTPS://SC.EDU/ABOUT/OFFICES_AND_DIVISIONS/SPONSORED_AWARDS_MANAGEMENT/INSTI TUTIONAL_INFO/USC_BUSINESS_INFORMATION.PHP. ALL OTHER DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12 ORGANIZATION'S WRITTEN POLICIES. THE RESEARCH FOUNDATION IS A FUNCTIONALLY INTEGRATED SUPPORTING ORGANIZATION TO THE UNIVERSITY OF SOUTH CAROLINA. FOUNDATION POLICIES REGARDING CONFLICTS OF INTEREST, USE OF SOCIAL CLUBS, TRAVEL, WHISTLEBLOWER PROVISIONS, ETC. ARE CONSISTENT WITH THOSE OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15A PROCESS FOR DETERMINING COMPENSATION FOR TOP MANAGEMENT OFFICIAL. THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF USC. THE BOARD CHAIR IS NOT COMPENSATED OR CONSIDERED A FOUNDATION EMPLOYEE. THE FOUNDATION PAYS THE CHAIR UNDER A CONTRACTUAL AGREEMENT. FORM 990, PART VI, SECTION B, LINE 15B PROCESS FOR DETERMINING COMPENSATION FOR OTHER OFFICERS/EMPLOYEES. THE FOUNDATION DOES NOT HAVE EMPLOYEES OF ITS OWN; ALL EMPLOYEES ARE UNIVERSITY OF SOUTH CAROLINA EMPLOYEES. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR UNIVERSITY OF SOUTH CAROLINA 208 OSBORNE ADMIN COLUMBIA SC 29208 576001153 EDUCATION SC 501(C)(3) LINE 6 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0 0