Overview
What is Furman University Foundation Inc?
Furman University Foundation Inc, based in Greenville, South Carolina, is a nonprofit organization dedicated to supporting Furman University. Their primary role involves accepting donations of real estate and purchasing properties for the exclusive benefit of the educational institution. They lease out these properties to third parties, with the resulting income granted to Furman University. The foundation operates as a public benefit corporation, aiming to meet the needs and interests of the university. By doing so, they contribute to Furman University's growth and development.
Is Furman University Foundation Inc legitimate?
Furman University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Furman University Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Furman University Foundation Inc?
The Furman University Foundation Inc, functioning as a nonprofit public benefit corporation, is dedicated to serving the needs and interests of Furman University, an educational organization. Its primary mission is to accept gifts of real estate and purchase and hold real estate for the exclusive use and benefit of Furman University. The foundation operates with the objective of utilizing these properties, often by leasing them to third parties, and the resulting cash is then granted to Furman University for its benefit. In essence, the Furman University Foundation Inc serves as a facilitator, ensuring the educational organization has the necessary real estate resources to thrive.
Who is the CEO of Furman University Foundation Inc?
W Lindsay Smith is the President of Furman University Foundation Inc.
What is the revenue of Furman University Foundation Inc?
Furman University Foundation Inc's revenue in 2022 was $1,749,880.
Who are the executives of Furman University Foundation Inc and what are their salaries?
Here are 7 key members and their salaries:
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- Related: $271,001
- Other: $33,362
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Where can I find the form 990 for Furman University Foundation Inc?
Furman University Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Furman University Foundation Inc
Furman University Foundation Inc, functioning as a nonprofit public benefit corporation, is dedicated to serving the needs and interests of Furman University, an educational organization. The primary mission of this foundation is to operate in a manner that benefits Furman University exclusively. One of its key activities involves accepting gifts of real estate and purchasing properties, which it then holds for the advantage of the university.
To expand upon this, the foundation serves as a steward for Furman University's real estate interests. It acquires properties and manages them, leasing them out to third parties. The revenue generated from these lease agreements is then transferred to Furman University. In essence, Furman University Foundation Inc plays a vital role in supporting Furman University's growth and development by providing it with a reliable source of income derived from real estate investments.
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Impact
October, 2024
Furman University Foundation Inc plays a crucial role in supporting the mission and activities of Furman University by managing and leveraging real estate assets. By accepting gifts of real estate and purchasing properties, the Foundation ensures that these resources are utilized exclusively for the benefit of the University.
The foundation owns property that is leased to third parties, generating rental income. This cash flow is granted directly to Furman University, providing essential funding that supports various educational initiatives and programs.
Through its strategic management of real estate, Furman University Foundation Inc enhances the University’s financial stability and strengthens its capacity to serve students and faculty. The organization's efforts contribute to the overall advancement of higher education in the Greenville community and beyond.
This information is meant to be a general summary of Furman University Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5
- Program Service Revenue: $1,749,875
- Gross Receipts: $1,749,880
Assets and Liabilities:
- Total Assets: $18,731,685
- Total Liabilities: $2,509,632
- Net Assets: $16,222,053
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROUND LEASE
Revenue
$1,749,875
Organization Details
Founding Year
1997
Phone
(864) 294-3496Principal Officer
W Lindsay Smith
Main Address
3300 POINSETT HIGHWAY, GREENVILLE, SC, 29613
NTEE Category
Code: B99 - Education
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