University of South Carolina Development Foundation

Analysis

University of South Carolina Development Foundation is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in March 1966, 60 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation 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 Development Foundation reported income of $7.0m and spending of $6.2m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.8m to $7.0m (-20%), an average of -5.5% a year. The sharpest change came in the year to June 2022, when income rose by 128%. 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 Development Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 96th percentile within SC. Charities of a similar size with the same main cause include Erie Elementary Charter School ($7.0m), Academic Success Program ($7.0m) and Renaissance Learning Center Inc ($7.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% of the total. Compensation of current officers, directors and key employees was $270k (4.4% of expenses). Other salaries and wages came to $376k. At year end it held assets of $258.3m against liabilities of $198.9m, net assets of $59.4m.