University of South Carolina Development Foundation (EIN 576026593) - Form 990 Financial Analysis & Trantor Score

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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

1965

Legal Domicile

Phone

8037771466

Tax Period

2023-07-01 to 2024-06-30

University of South Carolina Development Foundation, founded in 1965, is a community nonprofit in the Education sector that reported $9.8M in total revenue in fiscal year 2023. Revenue surged 38% from the prior year, signaling strong growth momentum. Expenses of $14.2M exceeded revenue, resulting in a 46% operating deficit.

Mission

To support the University of South Carolina in acquiring, developing, and managing real estate and other special assets to serve the needs of 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $965,676

Program Service Revenue $0

Investment Income $1,529,537

Other Revenue $7,255,062

TOTAL REVENUE $9,750,275

Expense Breakdown

Grants Paid $0

Salaries & Benefits $362,631

Fundraising Expenses $0

Program Expenses $13,270,416

Other Expenses $13,829,511

TOTAL EXPENSES $14,192,142

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,750,275	$7,043,492	+0.4%
Expenses	$14,192,142	$6,189,303	+1.3%
Net Income	$-4,441,867	$854,189	-6.2%

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

N/A

Volunteers

N/A

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

$1,030,537

Total Directors

$364,820

Key Employees

$267,684

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James W Cantey	Chair	2.0	Officer Director	$0	$0	$0
Lee S Dixon	Vice Chair	2.0	Officer Director	$0	$0	$0
M Elizabeth Crum	Chair Emeritus	1.5	Officer Director	$0	$0	$0
A Stanley Harpe III	Director	5.0	Director	$0	$0	$0
C Dan Adams	Director	1.0	Director	$0	$0	$0
C David Tuttle	Director	1.0	Director	$0	$0	$0
David M Lambert	Director	1.0	Director	$0	$0	$0
Deepal S Eliatamby	Director	1.0	Director	$0	$0	$0
Dr Susie H VanHuss	Director	1.0	Director	$0	$0	$0
Dr Tom H Regan	Director	0.5	Director	$0	$0	$128,395
F Page Morris	Director	1.0	Director	$0	$0	$0
Herbert C Adams	Director	0.5	Director	$0	$0	$0
Jim O Stuckey II	Director	1.0	Director	$0	$0	$0
Mark W Buyck Jr	Director	1.5	Director	$0	$0	$0
S Alan Medlin	Director	3.0	Director	$0	$0	$236,425
Susan M Douglas	Director	3.0	Director	$0	$0	$0
Swati S Patel	Director	0.3	Director	$0	$0	$0
Thomas E Suggs	Director	2.0	Director	$0	$0	$0
William C Hammett Jr	Director	4.0	Director	$0	$0	$0
Kimberly H Elliott	Treasurer and CFO	10.0	Officer	$0	$13,288	$300,538
Lindsey E Fisher	Secretary	10.0	Officer	$0	$14,242	$43,933
R Hunter Lambert	Assistant Vice President, Director of Real Estate	25.0	Officer	$0	$23,936	$156,731
R Jason Caskey	President and CEO	25.0	Officer	$0	$27,368	$478,789
Sandy Hightower	Secretary	10.0	Officer	$0	$13,954	$50,546
Susan B Smith	Chief Operating Officer	10.0	Key Emp	$0	$71,491	$267,684
Jean F Pinckney	Director of Accounting	39.0	Highest	$0	$12,433	$152,279
Jennifer S Muir	Director of Investments	1.0	Highest	$0	$56,914	$214,121

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	$9,750,275	$14,192,142	$351,018,821	$-4,441,867
2023	$7,043,492	$6,189,303	$258,285,748	$854,189
2022	$12,812,740	$4,985,202	$223,211,043	$7,827,538
2021	$5,614,138	$4,983,370	$224,446,394	$630,768
2020	$11,125,873	$7,982,283	$217,256,275	$3,143,590
2019	$8,818,628	$7,630,884	$221,155,280	$1,187,744
2018	$6,343,510	$11,396,717	$224,901,833	$-5,053,207

University of South Carolina Development Foundation