MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION (EIN 576028985) - 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

1966

Legal Domicile

Principal Officer

STUART AMES

Phone

8437921315

Tax Period

2024-07-01 to 2025-06-30

MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION, founded in 1966, is a major nonprofit in the Medical Research sector that reported $136.7M in total revenue in fiscal year 2024. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $55.7M, a strong 41% operating margin.

Mission

THE MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION (THE "FOUNDATION") WAS INCORPORATED IN JULY 1966 UNDER THE LAWS OF SOUTH CAROLINA AS AN EDUCATIONAL, CHARITABLE, ELEEMOSYNARY FOUNDATION TO PROMOTE EDUCATIONAL, RESEARCH, CLINICAL, AND OTHER FACILITIES AND PROGRAMS OF THE MEDICAL UNIVERSITY OF SOUTH CAROLINA ("MUSC"). IN 2005, THE FOUNDATION EXPANDED ITS PURPOSE BY AMENDING ITS BYLAWS TO PROMOTE THE SAME TYPES OF PROGRAMS THROUGH THE MEDICAL UNIVERSITY HOSPITAL AUTHORITY ("MUHA"), A COMPONENT UNIT OF MUSC. IF THE FOUNDATION IS DISSOLVED, ITS ASSETS SHALL BE TRANSFERRED TO MUSC AND USED BY MUSC IN ITS ACTIVITIES. THEREFORE, THE FOUNDATION MEETS THE DEFINITION ESTABLISHED BY THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD AS A COMPONENT UNIT OF MUSC. MUSC IS REQUIRED TO INCLUDE FINANCIAL INFORMATION OF THE FOUNDATION IN ITS REPORTING.

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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 (2024)

Revenue Breakdown

Contributions & Grants $93,088,813

Program Service Revenue $19,019,790

Investment Income $25,426,491

Other Revenue $-871,031

TOTAL REVENUE $136,664,063

Expense Breakdown

Grants Paid $54,983,870

Salaries & Benefits $0

Fundraising Expenses $7,849,417

Program Expenses $66,042,863

Other Expenses $25,668,404

TOTAL EXPENSES $81,004,152

Year-over-Year Comparison

	2024	2023	Change
Revenue	$136,664,063	$88,946,011	+0.5%
Expenses	$81,004,152	$61,981,772	+0.3%
Net Income	$55,659,911	$26,964,239	+1.1%

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

230

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

$997,184

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD ALMEIDA	DIRECTOR	1.00	Director	$0	$0	$0
JIM ALLHUSEN	DIRECTOR	1.00	Director	$0	$0	$0
NEIL GARFINKEL	DIRECTOR	1.00	Director	$0	$0	$0
DR BRINDA MODI CHOKSHI	DIRECTOR	1.00	Director	$0	$0	$0
MELVIN BROWN	DIRECTOR	1.00	Director	$0	$0	$0
DR DEBORAH DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
RICK DHILLON	DIRECTOR	1.00	Director	$0	$0	$0
TINA DOSCHER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN DOWNING	DIRECTOR	1.00	Director	$0	$0	$0
BRYAN DUNN	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS FLANAGAN	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE GEPHART JR	DIRECTOR	1.00	Director	$0	$0	$0
FELICIA GOINS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL JOUKOWSKY	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT KEANE	DIRECTOR	1.00	Director	$0	$0	$0
CARRIE LANNING	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT STOCKER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL STAVRINAKIS	DIRECTOR	1.00	Director	$0	$0	$0
JIM NEWSOME	DIRECTOR	1.00	Director	$0	$0	$0
LISA MONTGOMERY	DIRECTOR	1.00	Director	$0	$0	$0
OMAR RAMBERAN	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES SCHULZE	DIRECTOR	1.00	Director	$0	$0	$0
MIGUEL THAMES	DIRECTOR	1.00	Director	$0	$0	$0
CHARLIE WENDELL	DIRECTOR	1.00	Director	$0	$0	$0
AUDREY WHETSELL	DIRECTOR	1.00	Director	$0	$0	$0
ANN WROBLESKI	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN POPLIN	DIRECTOR	1.00	Director	$0	$0	$0
DR DAVID COLE	EX-OFFICIO DIRECTOR	1.00	Director	$0	$0	$0
JAN MCCRARY	VICE CHAIR	4.00	Officer Director	$0	$0	$0
JIM MACLEOD	CHAIR	4.00	Officer Director	$0	$0	$0
STUART AMES	CHIEF EXECUTIVE OFFICER	40.00	Officer	$0	$0	$635,452
ROBYN FRAMPTON	COO/EXECUTIVE VICE PRES.	40.00	Officer	$0	$3,132	$228,314
MATTHEW MUSE	CHIEF FINANCIAL OFF. THRU SEPT '24	40.00	Officer	$0	$1,700	$133,418
MATTHEW FULLER	CHIEF FINANCIAL OFF. BEGIN DEC. '24	40.00	Officer	$0	$0	$0

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	$136,664,063	$81,004,152	$944,238,249	$55,659,911
2024	No data	No data	No data	No data
2023	$80,589,263	$56,259,300	$755,133,409	$24,329,963
2022	$101,651,991	$46,975,865	$730,105,616	$54,676,126
2021	$58,752,346	$63,202,309	$746,557,015	$-4,449,963
2020	$28,626,184	$39,928,961	$614,746,136	$-11,302,777
2019	$47,561,905	$39,134,326	$627,864,659	$8,427,579
2018	$126,528,751	$43,475,495	$623,800,105	$83,053,256

MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION