MUSC Foundation for Research Development

EIN: 571031624 501(c)(3) Medical Research

CHARLESTON, SC

Total Revenue
$5,103,130
Total Expenses
$4,489,978
Total Assets
$4,740,841
Net Assets
$2,670,460
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
SC
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

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.

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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 (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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
8
Employees
9
Volunteers
9

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
1
$291,333
Total Directors
10
$281,501
Key Employees
3
$567,109
Highest Compensated
1
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
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