Investor Presentaiton
University of South Carolina Upstate Foundation and Supporting Organization
Consolidating Statement of Activities
June 30, 2022
University of
University of
South Carolina
South Carolina
Upstate
Foundation
Upstate Capital
Development
Foundation
Consolidated
Operating revenues, gains and other support:
Contributions
In-kind contributions
Earned income - contributions
$
2,555,026
127,222
76,171
Unrealized losses on investments, net
(2,399,708)
Investment income, net
94,729
Change in value of charitable remainder trust
(2,374)
2,555,026
127,222
76,171
(2,399,708)
94,729
(2,374)
Administrative fees
113,252
113,252
Other revenue
746
746
Total operating revenues, gains, and other support
565,064
565,064
Operating expenses:
Program expenses:
Scholarships
158,380
158,380
Supporting services to USC Upstate
953,840
953,840
In-kind expenses
127,222
127,222
Program operating expenses
247,703
247,703
Supporting expenses:
Administrative fee
113,252
113,252
Bank fees
367
20
387
Foundation operating expenses
88,097
1,225
89,322
Total operating expenses
1,688,861
1,245
1,690,106
Change in net assets
(1,123,797)
(1,245)
(1,125,042)
Net assets, beginning of year
17,546,241
41,563
17,587,804
Net assets, end of year
$
16,422,444
$
40,318
$
16,462,762
See independent auditors' report.
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