University of South Carolina Educational Foundation

Analysis

University of South Carolina Educational Foundation is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in February 1962, 64 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of South Carolina Educational Foundation reported income of $64.1m and spending of $52.1m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $42.6m to $64.1m (+51%), an average of +11% a year. The sharpest change came in the year to June 2020, when income rose by 65%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of South Carolina Educational Foundation sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Northwestern College ($63.9m), Chesnut Hill College of the Sisters of St Joseph ($64.2m) and Folds of Honor Foundation ($63.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $1.3m (2.4% of expenses). Other salaries and wages came to $1.2m. It paid $55k in professional fundraising fees. At year end it held assets of $660.0m against liabilities of $21.9m, net assets of $638.1m. It reported 27 employees.