The Medical University of South Carolina Foundation
18 Bee St, Charleston, SC · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $136,664,063 | $81,004,152 | $778,768,870 |
| FY2024 | $88,946,011 | $61,981,772 | $648,331,119 |
| FY2023 | $80,589,263 | $56,259,300 | $561,266,866 |
| FY2022 | $101,651,991 | $46,975,865 | $534,132,513 |
| FY2021 | $58,752,346 | $63,202,309 | $555,540,620 |
| FY2020 | $28,626,184 | $39,928,961 | $445,729,032 |
| FY2019 | $47,561,905 | $39,134,326 | $449,410,789 |
| FY2018 | $126,528,751 | $43,475,495 | $442,716,211 |
| FY2017 | $65,928,282 | $66,878,569 | $396,471,999 |
| FY2016 | $67,296,412 | $32,005,313 | $372,624,277 |
| FY2015 | $68,517,193 | $29,960,639 | $357,210,535 |
| FY2014 | $45,621,029 | $37,379,015 | $323,051,131 |
| FY2013 | $50,152,852 | $30,125,225 | $293,460,512 |
| FY2012 | $40,967,791 | $21,208,031 | $251,447,773 |
Form 990 filings
The returns filed by The Medical University of South Carolina Foundation (EIN 57-6028985), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $93,088,813 | 68% |
| Program service revenue | $19,019,790 | 14% |
| Other revenue | $24,555,460 | 18% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $66,042,863 | 82% |
| Management & general | $7,111,872 | 9% |
| Fundraising | $7,849,417 | 10% |
What the numbers show
- Contributions & grants made up 68% of total revenue in FY2025.
- Program services accounted for 82% of functional expenses, management & general 9%, and fundraising 10%.
- 82% of functional expenses went to program services in FY2025. That is higher than 43.9% of 157 Medical Research organizations nationwide (too few in SC for a state comparison).
- Net assets covered about 115.4 months of expenses at the end of the reporting year. That puts it in the 84th percentile among 31 Medical Research organizations in SC.
- Total revenue was the highest among 33 Medical Research organizations in SC.
- Total revenue rose from $40,967,791 in FY2012 to $136,664,063 in FY2025. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 3 of 14 reported years (FY2017, FY2020, FY2021).
- Net assets grew from $251,447,773 to $778,768,870 between FY2012 and FY2025.
- Contributions and grants made up 35% of revenue in FY2012 and 68% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
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
IRS status
| Ruling year | 2024 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | H90 — Medical Research |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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