Investor Presentaiton

University of South Carolina Upstate Foundation and Supporting Organization Notes to Consolidated Financial Statements Deferred Grant Revenue The Organization receives payments for grants in advance of the related expenditures. Income is recognized during the periods grant expenditures are incurred. Charitable Remainder Trusts Charitable remainder trusts represent assets that are currently held in trust for the benefit of designated income beneficiaries. Upon the death of the beneficiaries, the assets held in trust will be distributed to the Organization based upon the provisions of the trust, principally for unrestricted use. The value of assets and liabilities of the charitable remainder trusts is computed using a 3.2% discount rate. For those charitable remainder trusts for which the Organization is the trustee, an asset is recorded for the market value of the assets held in the trust, while a corresponding liability is recorded for the discounted value of future payment of the beneficiary. In-Kind Support Occasionally, the Organization receives contributions of goods and supplies for use in its programs. Contributed goods and supplies are recognized as revenue and expensed at their estimated fair value at the date of receipt. They are classified as in-kind contributions and in-kind expenses on the accompanying consolidated statement of activities. Risk and Uncertainties The Organization maintains investments in various stocks, fixed income securities, money market funds and other investment securities. Investment securities are exposed to various risks, such as interest rate, market and credit. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term would materially affect the Organization's investment balance reported on the consolidated statement of financial position. 2. Unconditional Promises to Give Unconditional promises to give are included on the consolidated financial statements as receivables and revenue of the appropriate net asset category. Amortization of the discount is recorded as additional contribution revenue in accordance with donor-imposed restrictions, if any. The discount for unconditional promises to give as of June 30, 2022 was not significant. Unconditional promises to give include the following at June 30: Due in one year or less Due in one to five years Unconditional promises to give 2022 2021 $ 1,320,500 30,000 $ 19,000 43,500 $ 1,350,500 $ 62,500 9

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