Civic Intelligence

Usc Columbia Technology Incubator

990 • Fiscal year 2018 • EIN 45-4165030

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 15, 2019

1225 Laurel StreetColumbia, SC 29201-5820

(803) 931-2544

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

66th percentile

0.23x

Higher debt load relative to assets than 66% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

48th percentile

0.08x

Higher debt load relative to revenue than 48% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

79th percentile

21%

Higher net margin than 79% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

97th percentile

132%

Faster asset growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

68th percentile

13%

Faster revenue growth than 68% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$291,005

Up $165,658 (+132%) from 2017

Net Assets

Up

$224,058

Up $167,973 (+299%) from 2017

Liabilities

Down

$66,947

Down $2,315 (-3.3%) from 2017

Revenue

Up

$788,462

Up $91,897 (+13%) from 2017

Expenses

Down

$620,489

Down $66,520 (-9.7%) from 2017

Net Income

Up

$167,973

Up $158,417 (+1658%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2012: $105,908Liabilities 2012: $85,649Net Assets 2012: $20,2592012Assets 2013: $196,625Liabilities 2013: $45,752Net Assets 2013: $150,8732013Assets 2014: $186,946Liabilities 2014: $53,241Net Assets 2014: $133,7052014Assets 2015: $163,465Liabilities 2015: $117,091Net Assets 2015: $46,3742015Assets 2016: $114,174Liabilities 2016: $67,644Net Assets 2016: $46,5302016Assets 2017: $125,347Liabilities 2017: $69,262Net Assets 2017: $56,0852017Assets 2018: $291,005Liabilities 2018: $66,947Net Assets 2018: $224,0582018Assets 2019: $361,500Liabilities 2019: $77,309Net Assets 2019: $284,1912019Assets 2021: $748,327Liabilities 2021: $184,358Net Assets 2021: $563,9692021Assets 2022: $573,025Liabilities 2022: $215,941Net Assets 2022: $357,0842022Assets 2024: $340,947Liabilities 2024: $100,969Net Assets 2024: $239,9782024

Highlighted filing

2018

Assets$291,005
Liabilities$66,947
Net Assets$224,058

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2012: $322,460Expenses 2012: $302,201Net Income 2012: $20,2592012Revenue 2013: $438,187Expenses 2013: $307,573Net Income 2013: $130,6142013Revenue 2014: $387,266Expenses 2014: $404,434Net Income 2014: -$17,1682014Revenue 2015: $833,857Expenses 2015: $864,774Net Income 2015: -$30,9172015Revenue 2016: $809,993Expenses 2016: $809,837Net Income 2016: $1562016Revenue 2017: $696,565Expenses 2017: $687,009Net Income 2017: $9,5562017Revenue 2018: $788,462Expenses 2018: $620,489Net Income 2018: $167,9732018Revenue 2019: $749,680Expenses 2019: $689,547Net Income 2019: $60,1332019Revenue 2021: $1,498,180Expenses 2021: $1,232,912Net Income 2021: $265,2682021Revenue 2022: $921,702Expenses 2022: $1,128,585Net Income 2022: -$206,8832022Revenue 2024: $946,846Expenses 2024: $1,037,293Net Income 2024: -$90,4472024

Highlighted filing

2018

Revenue$788,462
Expenses$620,489
Net Income$167,973
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 15, 2019
Return Version
2018v3.1
Gross Receipts
$1,002,670
Mission and Program Overview

Mission

This organization is formed exclusively for educational and scientific purposes and to increase economic development in the Midlands Region of South Carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$179,873-
Cash and Non-Interest-Bearing Accounts$32,797$67,887▲ $35,090
Land, Buildings, and Equipment, Net$25,442$24,538▼ $904
Accounts Receivable$57,786$18,707▼ $39,079
Total Assets$125,347$291,005▲ $165,658
Other Assets Total$9,322$0▼ $9,322
Liabilities
Accounts Payable and Accrued Expenses$69,262$58,642▼ $10,620
Deferred Revenue-$8,305-
Total Liabilities$69,262$66,947▼ $2,315
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$179,873-
Unrestricted Net Assets$56,085$44,185▼ $11,900
Total Net Assets Fund Balance$56,085$224,058▲ $167,973
Total Liabilities and Net Assets / Fund Balance$125,347$291,005▲ $165,658

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,632$49,133$63,765
Leasehold Improvements$9,906$25,177$35,083
Land$0--
Other Assets Org$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Wm KirklandChairman
Ben JohnsonBoard of Directors
Chuck WhippleBoard of Directors
David ZalesneBoard of Directors
Dr Dirk BrownBoard of Directors
Greg ClarkBoard of Directors
Jeff RubleBoard of Directors
Lee MacIliwenBoard of Directors
Mike EadesBoard of Directors
Pete StromBoard of Directors
Ravi RavindraBoard of Directors
Ryan ColemanBoard of Directors
Steve BenjaminBoard of Directors
Susan EdwardsBoard of Directors
Timothy DavisBoard of Directors
Chad HardawayExecutive Director
John F DeniseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$766,073
Program Service Revenue
$7,461
Investment Income
$3
Other Revenue
$14,925
All Other Contributions
$703,573
Change in Net Assets
$167,973

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,002,671
Revenue Not Reported on Financial Statements
$-214,209
Other Revenue Adjustments
$-214,209
Total Revenue per Audited Statements
$1,002,671
Total Revenue per Form 990
$788,462
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$578,538
Salaries, Compensation, and Employee Benefits$41,951
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$30,349$11,602$0$41,951
Occupancy$17,722$8,260$0$25,982
Other Expenses$2,845$16,812$0$19,657
All Other Expenses$9,094$7,294$0$16,388
Insurance$3,544$9,267$0$12,811
Total Functional Expenses$498,079$122,410$0$620,489

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$834,697
Total Expenses per Audited Statements$834,697
Total Expenses per Form 990$620,489
Expenses Not Reported on Financial Statements$-214,208
Other Expense Adjustments$-214,208
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
USCColumbia Technology Incubator
EIN
45-4165030
Phone
8039312544
Address
1225 Laurel Street, Columbia, SC 29201-5820

Signing Officer

Name
John Denise
Title
Treasurer
Phone
8039312544
Signed
2019-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bill Kirkland
Formed
2011
Legal Domicile
Sc
Voting Board Members
16
Independent Board Members
14
Employees
1
Volunteers
25

Preparer

Firm
Randall L Raber CPA PA
Address
1920 Barnwell Street, Columbia, SC 29201
Preparer
Randall L Raber
Phone
8032542509
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

A board meeting is called. The 990 is presented to the board for them to review and approve.

Pt VI, Line 18

The Board makes its documents available to the public upon request.

Pt VI, Line 19

The Board makes its documents available to the public upon request.

Pt VI, Line 12C

The Board constantly checks its members to make sure there is no conflict of interest that is not appropriately disclosed.

Pt VI, Line 2

Two of the board of directors were married during the year 2018. The balance of the Board of Directors is aware of this and has deemed it not to be a direct conflict of interest.

Pt VII, Col (F)

An organization not considered a related organization pays payroll to the executive director and the programming director. This payroll is included in the "in-kind" revenue and expense amounts in Parts VIII and IX. The amount paid to the executive director is valued at $125,000. This employee is not considered a key employee because his valued compensation is less than $150,000.

Form 990, Part IX, Line 24E

Outside services 9735. 2441. 7294. 0.

Form 990, Part IX, Line 24E

Incubator industry resources 2113. 2113. 0. 0.

Form 990, Part IX, Line 24E

Bank fee 1114. 1114. 0. 0.

Form 990, Part IX, Line 24E

Hospitality 3426. 3426. 0. 0.

Financial Statement Notes

Pt XI, Line 4B

Building Operations expense from Part VIII Line 6b

Pt XII, Line 4B

Building Operations expense from Part VIII Line 6b

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IRS990/OccupancyGrp/ManagementAndGeneralAmt08260
IRS990/OccupancyGrp/ProgramServicesAmt017722
IRS990/OccupancyGrp/TotalAmt025982
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt09322
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherExpensesGrp/Desc0In-Kind - Building lease
IRS990/OtherExpensesGrp/Desc1In- Kind - Employee Services
IRS990/OtherExpensesGrp/Desc2Office and other expense
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt017325
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt151850
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt216812
IRS990/OtherExpensesGrp/ProgramServicesAmt0329175
IRS990/OtherExpensesGrp/ProgramServicesAmt1105350
IRS990/OtherExpensesGrp/ProgramServicesAmt22845
IRS990/OtherExpensesGrp/TotalAmt0346500
IRS990/OtherExpensesGrp/TotalAmt1157200
IRS990/OtherExpensesGrp/TotalAmt219657
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt011602
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt030349
IRS990/OtherSalariesAndWagesGrp/TotalAmt041951
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0179873
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Bill Kirkland
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0Occupancy rental income and expenses for organizations participating in the incubator program Income 229,133 Expenses 214,208
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt00
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0638300
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt03
IRS990/PYOtherExpensesAmt0622208
IRS990/PYOtherRevenueAmt049648
IRS990/PYProgramServiceRevenueAmt08614
IRS990/PYRevenuesLessExpensesAmt09556
IRS990/PYSalariesCompEmpBnftPaidAmt064801
IRS990/PYTotalExpensesAmt0687009
IRS990/PYTotalRevenueAmt0696565
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0167973
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt014925
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0788462
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0766073
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0638300
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0743680
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0789371
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0297617
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03235041
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt03
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt03
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt09
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt07461
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt08614
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt09721
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt05
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0518
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt026319
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt0229133
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt0291017
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt0296025
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt0268180
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt0237067
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt01321422
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt03
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt09
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt04582782
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01002667
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0937931
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01049426
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01057556
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0535202
IRS990ScheduleA/Total509Grp/TotalAmt04582782
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04582791
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt014632
IRS990ScheduleD/EquipmentGrp/DepreciationAmt049133
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt063765
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-214208
IRS990ScheduleD/ExpensesSubtotalAmt0834697
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt09906
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt025177
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt035083
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt00
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Construction in progress
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-214208
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-214209
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-214209
IRS990ScheduleD/RevenueSubtotalAmt01002671
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Building Operations expense from Part VIII Line 6b
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Building Operations expense from Part VIII Line 6b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt024538
IRS990ScheduleD/TotalBookValueOtherAssetsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0620489
IRS990ScheduleD/TotalRevenuePerForm990Amt0788462
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01002671
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0834697
IRS990/ScheduleJRequiredInd0false

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