FRANCIS MARION UNIVERSITY DEVELOPMENT FOUNDATION

EIN: 200118161 501(c)(3) Education

FLORENCE, SC

Total Revenue
$7,752,335
Total Expenses
$7,497,554
Total Assets
$27,097,598
Net Assets
$13,006,750
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
SC
Principal Officer
HAIEASHA SINGLETARY
Phone
8436611131
Tax Period
2024-07-01 to 2025-06-30

FRANCIS MARION UNIVERSITY DEVELOPMENT FOUNDATION, founded in 2003, is a community nonprofit in the Education sector that reported $7.8M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $7.5M left a modest 3% surplus.

Mission

THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF FRANCIS MARION UNIVERSITY, SPECIFICALLY IN MANAGEMENT OF STUDENT HOUSING, OTHER REAL PROPERTY, AND ACCEPTANCE OF GIFTS AND OTHER SUPPORT AS AGREED UPON BY THE FOUNDATION'S BOARD OF DIRECTORS AND THE UNIVERSITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $7,270,841
Investment Income $422,051
Other Revenue $59,443
TOTAL REVENUE $7,752,335

Expense Breakdown

Grants Paid $2,393,958
Salaries & Benefits $662,101
Fundraising Expenses $0
Program Expenses $7,393,291
Other Expenses $4,441,495
TOTAL EXPENSES $7,497,554

Year-over-Year Comparison

2024 2023 Change
Revenue $7,752,335 $7,096,786 +0.1%
Expenses $7,497,554 $5,917,163 +0.3%
Net Income $254,781 $1,179,623 -0.8%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
4
Employees
N/A
Volunteers
4

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$338,340
Total Directors
5
$259,401
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DARRYL BRIDGES TREASURER-VICE PRESIDENT FOR FINANCE & FACILITIES 0.10
Officer Director
$0 $64,912 $259,401
KEN JACKSON VICE-CHAIRMAN 0.10
Officer Director
$0 $0 $0
CARL HUMPHRIES BOARD MEMBER 0.10
Director
$0 $0 $0
JOYCE DURANT BOARD MEMBER 0.10
Director
$0 $0 $0
PERRY GRICE BOARD MEMBER 0.10
Director
$0 $0 $0
HAIEASHA SINGLETARY EXECUTIVE DIRECTOR 12.00
Officer
$0 $26,581 $78,939
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $7,752,335 $7,497,554 $27,097,598 $254,781
2024 $7,096,786 $5,917,163 $27,833,235 $1,179,623
2023 $6,730,208 $5,710,871 $27,620,215 $1,019,337
2022 $6,663,284 $5,208,103 $27,512,259 $1,455,181
2021 $6,587,347 $4,956,596 $27,042,578 $1,630,751
2020 $6,292,316 $5,217,335 $26,120,149 $1,074,981
2019 $6,198,317 $5,754,171 $26,314,567 $444,146
2018 $6,832,862 $5,353,349 $26,266,973 $1,479,513
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