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South Carolina · Nonprofit

MUSC Foundation for Research Development

MUSC Foundation for Research Development (South Carolina) receives grants from 5 organizations whose IRS filings report $473,596 to it, the largest being SOUTH CAROLINA RESEARCH AUTHORITY ($282,947). 3 of them have funded it in more than one year.

Revenue FY2025
$5.6M
Funders on record
5
Grants received
$474k
Net assets
$2.9M
3/5 repeat funderspeak grant-dependency 4%
01What it does

What MUSC Foundation for Research Development does

Mission

1. To support the educational, research, and healthcare mission of the medical university of south carolina (musc) by fostering creativity and innovation. 2. To initiate and sustain cooperation and collaboration between musc and business and industry. 3. Act as musc's intellectual property management and technology marketing arm. 4. Advance healthcare-related economic development for south carolina and the nation. 5. Support economic development through technology licensing.

As stated on its FY2025 Form 990.

Programs

  1. The foundation manages and markets intellectual property emanating from musc in order to expedite, for the public's benefit, the translation of ideas into procedures, devices, and products.

    $2,899,233 spent$3,299,573 earned by the program
    60% of program spending

  2. The foundation assists musc in accomplishing its educational and public service missions by supporting continuing medical education and other opportunities for musc faculty, residents, and medical students. Other regional, national and international attendees and faculty contribute to the exchange of information and ideas.

    $966,411 spent$1,099,858 earned by the program
    20% of program spending

  3. The Foundation is a 501(c)3 not-for-profit technology transfer office that acts as a point of contact for industry and entrepreneurs wishing to commercialize intellectual property from the Medical University of South Carolina (MUSC).

    $966,411 spent$1,099,858 earned by the program
    20% of program spending

The 3 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $4,832,055.

02The organization over time

The organization over time

Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.

100 = 20172017 Revenue 100 ($3.1M) Expenses 100 ($3.1M) Net assets 100 ($1.1M)2018 Revenue 100 ($3.1M) Expenses 106 ($3.3M) Net assets 85 ($970k)2019 Revenue 113 ($3.5M) Expenses 110 ($3.4M) Net assets 107 ($1.2M)2020 Revenue 86 ($2.7M) Expenses 93 ($2.9M) Net assets 91 ($1.0M)2021 Revenue 90 ($2.8M) Expenses 92 ($2.8M) Net assets 89 ($1.0M)2022 Revenue 95 ($3.0M) Expenses 93 ($2.9M) Net assets 95 ($1.1M)2023 Revenue 175 ($5.5M) Expenses 150 ($4.6M) Net assets 184 ($2.1M)2024 Revenue 163 ($5.1M) Expenses 145 ($4.5M) Net assets 234 ($2.7M)2025 Revenue 181 ($5.6M) Expenses 170 ($5.2M) Net assets 256 ($2.9M)
'17'18'19'20'21'22'23'24'25
Revenue (181)Expenses (170)Net assets (256)Peer revenue range

Balance sheet

Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2022 to 2023, from $2.3M to $4.1M (+77%).

$2.0M
$2.1M
$3.0M
$2.5M
$2.4M
$2.3M
$4.1M
$4.7M
$4.7M
'17'18'19'20'21'22'23'24'25
Total assetsTotal liabilities

How it's funded, over time

Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.

2017
2018
2019
2020
2021
2022
2023
2024
2025
ContributionsProgram revenueInvestmentOther

0% of MUSC Foundation for Research Development’s revenue is contributions — more earned-revenue than three-quarters of its peers (51% for the typical peer).

This organization
Typical peer · 8,611 orgs

Surplus & reserves

Operating surplus or deficit each year, and months of liquidity in hand. 3 of the last 9 reported years ran a deficit.

$37k
’17
−$153k
’18
$155k
’19
−$184k
’20
−$46k
’21
$97k
’22
$841k
’23
$613k
’24
$404k
’25
3.2
months of
reserve

Leadership and staff

The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.

Chief executive

Todd Headley

CEO

As listed on its FY2025 Form 990.

The chief executive listed changed between the FY2021 and FY2022 filings.

'17'18'19'20'21'22'23'25
Listed2327263236292415
Joined·+5+4+11+6+0+5·
No longer listed·1552710·
03Who funds it

Who funds it, year by year

2017 → 2023: the base broadened from 1 funder to 3 funders, grant income rose $22k → $64k.

Funder
'17
'18
'19
'20
'21
'22
'23
'24*
total
funders
1
1
3
1
3
2
3
1

2 of 5 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 38% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.

From the IRS filings of MUSC Foundation for Research Development’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How concentrated its funding is

MUSC Foundation for Research Development leans on a few funders — its largest provides 60% of grant income and the top three 98%; half comes from just 1 funder.

the vertical line marks half of all grant income — 1 funder to its left

100% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund MUSC Foundation for Research Development.

60%
largest funder
98%
top three
~2
effective funders

Largest funder’s share by year: 2017 100% · 2018 100% · 2019 65% · 2020 100% · 2021 47% · 2022 51% · 2023 78% — diversifying over time.

“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

Where its funders are

97% of MUSC Foundation for Research Development's grant income comes from South Carolina funders.

WI
VA
SC

In-state vs out-of-state, by year

’18
’19
’20
’21
’22
’23
South Carolina out of state home

Funder states come from each funder’s own filing. $182k arriving through sponsors registered in 2 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

04Its place in the field

Against its field

MUSC Foundation for Research Development runs a healthier operating margin than half of the 4,665 health nonprofits its size.

Operating margin7% · above the median
Months of reserve3.2mo · below the median
Revenue growth (annualized)8% · below the median

this organization peer median middle 50% of peers· 4,665 health nonprofits $1M–$10M, FY2025

Organizations like MUSC Foundation for Research Development

Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.

In South Carolina

Medical University of South Carolina Foundation82%Musc Strategic Ventures82%South Carolina Research Foundation82%Clemson University Research Foundation82%Sc Launch Inc81%Clemson University Foundation81%University of South Carolina Upstate Foundation81%Medical Society of South Carolina80%

Nationally

Medical University of South Carolina Foundation82%Florida State University Research Foundation Inc82%Musc Strategic Ventures82%Medical College of Va Foundation82%Usf Research Foundation Inc82%South Carolina Research Foundation82%Clemson University Research Foundation82%Sc Launch Inc81%
05Profile & governance

Read directly from this organization’s own Form 990, as neutral context.

Where the money goes

92% of spending goes to programs.

Program 92%Management 8%Fundraising 0%

Governance

8
board members
100%
independent
✓Conflict-of-interest policy✓Whistleblower policy✓Document retention✓Board reviewed the 990✓Audited financials

Footprint & structure

Files a return copy in 1 state

SC

Part of a family of 3 related entities

  • medical university of south carolina · exempt
  • Zucker Institute for Applied Neurosciences Inc · exempt
  • Frd Accel LLC · corp_trust

Screen this organization

A dated, signed PDF of the compliance screen for MUSC Foundation for Research Development: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.

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Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf

Questions and answers

Who funds MUSC Foundation for Research Development?
MUSC Foundation for Research Development (South Carolina) receives grants from 5 organizations whose IRS filings report $473,596 to it, the largest being SOUTH CAROLINA RESEARCH AUTHORITY ($282,947). 3 of them have funded it in more than one year.
How many funders does MUSC Foundation for Research Development have?
IRS filings report 5 organizations giving $473,596 in grants to MUSC Foundation for Research Development, 3 of which have funded it in more than one year.
Who is the largest funder of MUSC Foundation for Research Development?
SOUTH CAROLINA RESEARCH AUTHORITY is the largest funder on record, with $282,947 in grants. The full list of funders is on this page.
How can an organization like MUSC Foundation for Research Development find more funders?
Start with the funders already giving here, then look at the foundations that back similar organizations in South Carolina. The funding by cause and by state pages list the largest funders for a given area and how to approach them.

Play a game about who funds MUSC Foundation for Research Development →

These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 5 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing