UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION
1027 BARNWELL ST
COLUMBIA SC 29208-4017
Contact Information
Organization DBA (Doing Business As)
Organization DBA
University of South Carolina Beaufort
Address 1027 BARNWELL ST
COLUMBIA, SC 292084017
Telephone (843) 208 8349
E-mail DuffyJA@uscb.edu
Projected Annual Revenue $20,000.00 (2018)
Mission Statement

The University of South Carolina Beaufort (USCB) responds to regional needs, draws upon regional strengths, and prepares graduates to contribute locally, nationally, and internationally with its mission of teaching, research, and service. USCB is a senior baccalaureate campus (1,400 to 3,000 students) of the state's largest public university. It offers degree programs in the arts, humanities, professions, and social and natural sciences delivered through on-site instruction and distance education, along with an active program of co-curricular activities and athletics. It serves a racially and culturally diverse student body, including military personnel, veterans and their dependents, and draws students from the South Carolina Lowcountry, from around the country, and from around the world. USCB enriches the quality of life for area residents of all ages through its academic programs, continuing education, artistic and cultural offerings, community outreach, collaborations with regional initiatives, and life-long learning opportunities.

Leadership
CEO/Executive Director Russell Meekins
Board Chair Boyd b. Jones
Board Chair Company Affiliation NBSC
History and Background
Year of Incorporation 1962
Financial Summary
Revenue vs Expenses Bar Graph - All Years
Graph: Expense Breakdown Graph - All Years
Revenue vs Expenses Area Graph - All Years

Comparing revenue to expenses shows how the organizations finances fluctuate over time.

Source: IRS Form 990

 Breakdown
Net Gain/Loss:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.
Statements
Mission

The University of South Carolina Beaufort (USCB) responds to regional needs, draws upon regional strengths, and prepares graduates to contribute locally, nationally, and internationally with its mission of teaching, research, and service. USCB is a senior baccalaureate campus (1,400 to 3,000 students) of the state's largest public university. It offers degree programs in the arts, humanities, professions, and social and natural sciences delivered through on-site instruction and distance education, along with an active program of co-curricular activities and athletics. It serves a racially and culturally diverse student body, including military personnel, veterans and their dependents, and draws students from the South Carolina Lowcountry, from around the country, and from around the world. USCB enriches the quality of life for area residents of all ages through its academic programs, continuing education, artistic and cultural offerings, community outreach, collaborations with regional initiatives, and life-long learning opportunities.

Background

Situated in the Carolina Sea Islands in a region rich in history, steeped in natural beauty, teeming with extraordinary opportunities for those who participate in golf, tennis and water sports of all kinds and thriving as one of the world's great resort destinations, USC Beaufort offers students an exceptional place to learn and live in an environment focused on growth, preservation and opportunity.

The Bluffton campus (Main Campus), which opened in 2004, features on-campus student apartments and a brand-new Campus Center with dining, recreation and fitness facilities.

USCB's Beaufort campus on the banks of the Intracoastal Waterway is located in the heart of charming downtown Beaufort and is home to our Studio Arts program, Center for the Arts and many other cultural centers.

Both campuses offer undergraduate programs of study to some 2,000 students, who pay state university tuition but often feel as if they are studying at a small, liberal arts college.

Hilton Head Island campus coming in 2018 will host the Hospitality Management program.

Beginnings bring opportunities, and USCB is at the beginning of programs, customs and traditions. It's an exciting time at an exceptional place.

Impact
In 2017, over 100 academic scholarships were awarded to USCB students. 
In 2017, USC-Beaufort had it's largest senior class ever, with over 375 graduates.
In the Fall of 2017 USCB announced the creation of a Nursing Honors Program which will begin in the Fall of 2018. 
In the spring of 2017, USC-Beaufort broke ground on its newest facility on Hilton Head Island, a campus for Hospitality Management studies.
2017 saw a reorganization of academic programs into schools of Humanities and Social Sciences, Science and Mathematics, and the School of the Professions.  
Needs
Refurbishing and development of the Beaufort campus in preparation of the Nursing Honors program in 2018.
Financing for the operations and development of the Hilton Head Island Campus.
Development and construction of a new Osher Lifelong Learning Institute (OLLI) academic and administrative facility. ($5M) 
Development of an on-campus baseball/softball facililty. ($3M)
Development and construction of an on-campus track & field facility (1.5M) 
CEO/Executive Director Statement

It has been a great year for investors in the University of South Carolina! As organizations that support the University, the USC Educational Foundation and the USC Development Foundation are very thankful for the time and counsel given by our Board members and for the generosity of our donors. Our stewardship of those gifts must be transparent, competent and of the highest integrity.

Our Investment Pool, consisting mostly of endowed accounts, reached nearly $400 million in 2014. The Foundations Investment Oversight Committee has done an outstanding job of positioning this portfolio to take advantage of favorable market conditions. The return on investment was 19.8% at June 30, 2014 and is, once again, in the 95th percentile nationally among colleges and universities. The University continues to seek ways to grow and thrive in an environment of lower state support. Being separately incorporated and separately governed, the Foundations are strategic in the accelerating momentum of the University. Please join us in supporting the University. Working together, we have no limits!

Board Chair Statement Statement forthcoming.
Areas of Service
Area
Beaufort County
Colleton County
Hampton County
Jasper County

In the Fall of 2016, 811 student members of the USCB student body were made up of students whose permanent (home) addresses were from these three counties. Of the 2005 students enrolled in the Fall of 2016, 843 of these listed their permanent (home) addresses in locations in South Carolina outside of the Beaufort, Hampton, and Jasper Counties. The remaining students come to the USCB family from 31 states outside of South Carolina, as well as 9 countries outside the US.

Board Chair
Board Chair Boyd b. Jones
Company Affiliation NBSC
Term Jan 2016 to Dec 2020
Board of Directors
NameAffiliation
Patti H Addison Community Volunteer
James (Jim) p Barrow Barrow, Hanley, Mewhinney & Strauss
James Bennett First Citizens Bank
Rita B Caughman Sojourner, Caughman & Thomas, LLC
Traci Young Cooper Richland County School District One
Thomas (Tom) C Deas JrFMC Corporation
Dr. Sharon I Eden Orangeburg VA Clinic
R Keith Elliott Retired
Frances Gardner USC Regional Campus
Jancy L Houck USC Development and Alumni Relations
William (Wes) Jones Jr.Attorney
Kenda M Laughey Southminster
Russ H Meekins USC Foundations
W Haigh Porter Attorney
Jeff P Spears USC-Aiken
Tony Tam IMIC Hotels
John C von Lehe Jr.USC Board of Trustees
C John Wentzell Retired
J Allen Wright UBS Financial
Board Demographics - Ethnicity
African American/Black 3
Asian American/Pacific Islander 1
Caucasian 15
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 11
Female 8
Governance
Board Term Lengths 4
Board Term Limits 2
Written Board Selection Criteria? No
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100%
Number of Full Board Meetings Annually 2
Standing Committees
Audit
Executive
Investment
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director/CEO Russell Meekins
Experience Meekins started working with the foundations in 1995 and has been chief financial officer since 1997. Meekins earned finance and accounting degrees from USC and worked at Arthur Young and Co., Carter-Miot Engineering Inc. and The Computer Group Inc.
Staff
Full Time Staff 16
Part Time Staff 0
Volunteers 0
Contractors 0
Plans
Organization has a Strategic Plan? Under Development
Date Strategic Plan Adopted Oct 2017
Years Strategic Plan Considers 5
Organization has a Fundraising Plan? No
Management Succession Plan? No
Organization Policy and Procedures No
Diversity Policy Yes
Nondiscrimination Policy Yes
Whistleblower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy No
Programs
Description Offering Bachelor's of Arts in English, Liberal Studies, Studio Art, History, Spanish, Communication Studies, Psychology, and Sociology, and a Bachelor's of Science in Human Services.  
Short Term Success In the short term, we are measuring success with increased enrollment, retention, and graduation rates.
Long Term Success We hope that our long-term successes will be reflected individual professional achievements by our graduates.
Strategy Yes
Program Success Monitored BY Every 5 years USC-Beaufort develops a Quality Enhancement Program with specific goals and metrics. We are just kicking off our latest program in the Fall of 2017.
Description Offering Bachelor of Science degrees in Computational Science and Mathematics, and Biology. 
Short Term Success Short-term success will be in increased enrollment, retention and graduation rates.
Long Term Success

We hope that our long-term successes will be reflected by individual professional achievements by our graduates.

Strategy Yes
Program Success Monitored BY Our latest Quality Enhancement Program begins this fall, focusing on Experiential Learning, has goals and metrics to be attached to it, with annual follow-up for the next 5 years.
Description Offering Bachelor of Arts in Early Childhood Education, Elementary Education; Bachelor of Science in  Business Administration, Health Promotion, and Hospitality Management, and RN to BSN in Nursing.
Short Term Success

Our short-term successes will be reflected by increased enrollment, retention and graduation rates.

Long Term Success

We hope that our long-term successes will be reflected by individual professional achievements by our graduates.

Strategy Yes
Program Success Monitored BY

Our latest Quality Enhancement Program begins this fall, focusing on Experiential Learning, has goals and metrics to be attached to it, with annual follow-up for the next 5 years.

Fiscal Year
Fiscal Year 2018
Projected Revenue $20,000.00
Projected Expenses $10,000.00
Spending Policy Income plus capital appreciation
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201520142013
Foundation and
Corporation Contributions
$32,503,800$47,365,868$35,023,865
Government Contributions$0$0$0
Federal------
State------
Local------
Unspecified$0$0$0
Individual Contributions------
$0$0$0
$126,636$76,293$57,793
Investment Income, Net of Losses$5,702,837$5,308,416$5,187,931
Membership Dues$0$0$0
Special Events$217,626$265,570$339,392
Revenue In-Kind$7,036,699$6,171,850$6,166,695
Other$19,403,369$11,087,109$11,863,631
Expense Allocation
Fiscal Year201520142013
Program Expense$45,410,455$29,991,675$31,301,359
Administration Expense$3,608,792$2,931,993$2,452,946
Fundraising Expense$1,066,989$732,754$920,705
Payments to Affiliates------
Total Revenue/Total Expenses1.181.931.52
Program Expense/Total Expenses91%89%90%
Fundraising Expense/Contributed Revenue3%2%3%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$472,128,358$455,773,739$384,939,525
Current Assets$60,602,342$50,872,653$44,414,602
Long-Term Liabilities$30,718,790$20,082,494$22,312,921
Current Liabilities$8,875,118$9,770,108$7,320,942
Total Net Assets$432,534,450$425,921,137$355,305,662
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities6.835.216.07
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets7%4%6%
Top Funding Sources
Fiscal Year201520142013
Top Funding Source & Dollar Amount -- -- --
Second Highest Funding Source & Dollar Amount -- -- --
Third Highest Funding Source & Dollar Amount -- -- --
Capital Campaign
Currently in a Capital Campaign? No
State Charitable Solicitations Permit
Registration Exempt May 2017
Nonprofit UNIVERSITY OF SOUTH CAROLINA EDUCATIONAL FOUNDATION
Address 1027 BARNWELL ST
COLUMBIA, SC 292084017
Primary Phone (843) 208 8349
Contact Email DuffyJA@uscb.edu
CEO/Executive Director Russell Meekins
Board Chair Boyd b. Jones
Board Chair Company Affiliation NBSC
Year of Incorporation 1962