MUSC Foundation for Research Devel… - Form 990 Financial Data

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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

1995

Legal Domicile

Phone

8438761900

Tax Period

2023-07-01 to 2024-06-30

MUSC Foundation for Research Development, founded in 1995, is a community nonprofit in the Medical Research sector that reported $5.1M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $4.5M left a modest 12% surplus.

Mission

1. TO SUPPORT THE EDUCATIONAL, RESEARCH, AND HEALTHCARE MISSION OF THE MEDICAL UNIVERSITY OF SOUTH CAROLINA (MUSC) BY FOSTERING CREATIVITY AND INNOVATION. 2. TO INITIATE AND SUSTAIN COOPERATION AND COLLABORATION BETWEEN MUSC AND BUSINESS AND INDUSTRY. 3. ACT AS MUSC'S INTELLECTUAL PROPERTY MANAGEMENT AND TECHNOLOGY MARKETING ARM. 4. ADVANCE HEALTHCARE-RELATED ECONOMIC DEVELOPMENT FOR SOUTH CAROLINA AND THE NATION. 5. SUPPORT ECONOMIC DEVELOPMENT THROUGH TECHNOLOGY LICENSING.

Program Service Accomplishments

Program 1

Expenses: $2,284,381 Revenue: $3,004,919

THE FOUNDATION MANAGES AND MARKETS INTELLECTUAL PROPERTY EMANATING FROM MUSC IN ORDER TO EXPEDITE, FOR THE PUBLIC'S BENEFIT, THE TRANSLATION OF IDEAS INTO PROCEDURES, DEVICES, AND PRODUCTS.

Program 2

Expenses: $761,460 Revenue: $1,001,640

THE FOUNDATION ASSISTS MUSC IN ACCOMPLISHING ITS EDUCATIONAL AND PUBLIC SERVICE MISSIONS BY SUPPORTING CONTINUING MEDICAL EDUCATION AND OTHER OPPORTUNITIES FOR MUSC FACULTY, RESIDENTS, AND MEDICAL...

THE FOUNDATION ASSISTS MUSC IN ACCOMPLISHING ITS EDUCATIONAL AND PUBLIC SERVICE MISSIONS BY SUPPORTING CONTINUING MEDICAL EDUCATION AND OTHER OPPORTUNITIES FOR MUSC FACULTY, RESIDENTS, AND MEDICAL STUDENTS. OTHER REGIONAL, NATIONAL AND INTERNATIONAL ATTENDEES AND FACULTY CONTRIBUTE TO THE EXCHANGE OF INFORMATION AND IDEAS.

Program 3

Expenses: $761,460 Revenue: $1,001,640

The Foundation is a 501(c)3 not-for-profit technology transfer office that acts as a point of contact for industry and entrepreneurs wishing to commercialize intellectual property from the Medical...

The Foundation is a 501(c)3 not-for-profit technology transfer office that acts as a point of contact for industry and entrepreneurs wishing to commercialize intellectual property from the Medical University of South Carolina (MUSC).

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,604,458

Investment Income $94,931

Other Revenue $403,741

TOTAL REVENUE $5,103,130

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,869,424

Fundraising Expenses $0

Program Expenses $3,807,301

Other Expenses $2,620,554

TOTAL EXPENSES $4,489,978

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,103,130	$5,473,075	-0.1%
Expenses	$4,489,978	$4,631,860	0.0%
Net Income	$613,152	$841,215	-0.3%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$291,333

Total Directors

$281,501

Key Employees

$567,109

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee (partial year)	1.0	Director	$0	$12,309	$236,869
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$18,348	$44,632
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	CEO / President	40.0	Officer	$276,435	$14,898	$291,333
N/A	VP	40.0	Key Emp	$160,055	$12,408	$172,463
N/A	VP of Medical Technologly	40.0	Key Emp	$195,694	$14,437	$210,131
N/A	General Counsel	40.0	Key Emp	$148,518	$35,997	$184,515
N/A	Senior Director of IP	40.0	Highest	$101,970	$33,593	$135,563

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	No data	No data	No data	No data
2024	$5,103,130	$4,489,978	$4,740,841	$613,152
2023	$5,473,075	$4,631,860	$4,066,384	$841,215
2022	$2,958,222	$2,860,818	$2,295,156	$97,404
2021	$2,800,961	$2,846,474	$2,385,184	$-45,513
2020	$2,674,099	$2,857,811	$2,463,681	$-183,712
2019	$3,540,679	$3,385,373	$3,025,150	$155,306
2018	$3,116,614	$3,269,614	$2,089,494	$-153,000

MUSC Foundation for Research Development