Foundations Key to USC Support

The University of South Carolina’s Educational Foundation and Development Foundation provide key, non-profit support for the state’s flagship institution, according to Jason Caskey, a 1990 accounting graduate who oversees fund operations. Caskey (center in photo with Rotarian Matthew Pollard at right and assistant Hunter Lambert on left) was Capital Rotary’s Sept. 18 guest speaker. He said the two foundations’ assets total approximately $800 million. The Educational Foundation’s primary purpose is to accept donor gifts in the form of cash, real estate, life insurance and other valuables. It has assets of $565 million, including investments worth $478 million whose earnings are applied to scholarships, faculty/staff salary supplements, development staff support, the USC Children’s Center and foundation operations. The Development Foundation’s goal is to handle the purchase of real estate – some for operations, some held for possible future use and some to be put up for sale. Its total assets are approximately $225 million. Caskey received the 2008 Distinguished Young Alumnus award from USC’s Moore School of Business. He was a financial services practice leader and managing shareholder for Elliott Davis in Columbia before becoming the foundations’ president and CEO.