Civic Intelligence

Usc Columbia Technology Incubator

990 • Fiscal year 2019 • EIN 45-4165030

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

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

74th percentile

0.21x

Higher debt load relative to assets than 74% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

0.10x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

60th percentile

8.0%

Higher net margin than 60% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

80th percentile

24%

Faster asset growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

31st percentile

-4.9%

Faster revenue growth than 31% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Up

$361,500

Up $70,495 (+24%) from 2018

Net Assets

Up

$284,191

Up $60,133 (+27%) from 2018

Liabilities

Up

$77,309

Up $10,362 (+15%) from 2018

Revenue

Down

$749,680

Down $38,782 (-4.9%) from 2018

Expenses

Up

$689,547

Up $69,058 (+11%) from 2018

Net Income

Down

$60,133

Down $107,840 (-64%) from 2018

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

2019

Assets$361,500
Liabilities$77,309
Net Assets$284,191

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

2019

Revenue$749,680
Expenses$689,547
Net Income$60,133
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$947,967
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
Cash and Non-Interest-Bearing Accounts$67,887$300,420▲ $232,533
Pledges and Grants Receivable$179,873$24,604▼ $155,269
Accounts Receivable$18,707$20,202▲ $1,495
Land, Buildings, and Equipment, Net$24,538$16,274▼ $8,264
Total Assets$291,005$361,500▲ $70,495
Liabilities
Accounts Payable and Accrued Expenses$58,642$58,983▲ $341
Deferred Revenue$8,305$18,326▲ $10,021
Total Liabilities$66,947$77,309▲ $10,362
Net Assets / Fund Balance
Net Assets With Donor Restrictions$179,873$179,873→ $0
Net Assets Without Donor Restrictions$44,185$104,318▲ $60,133
Total Net Assets Fund Balance$224,058$284,191▲ $60,133
Total Liabilities and Net Assets / Fund Balance$291,005$361,500▲ $70,495

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,268$59,172$66,440
Leasehold Improvements$9,006$26,077$35,083
Land$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 MacIlwinenBoard of Directors
Pete StromBoard of Directors
Ravi RavindraBoard of Directors
Ryan ColemanBoard of Directors
Sarah JohnsonBoard of Directors
Steve BenjaminBoard of Directors
Susan Edwards StromBoard of Directors
Timothy DavisBoard of Directors
Chad HardawayExecutive Director
John F DeniseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$704,254
Program Service Revenue
$8,150
Investment Income
$1,916
Other Revenue
$35,360
All Other Contributions
$629,254
Change in Net Assets
$60,133

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$346,500
Other Non Cash Contri Table1$8,400
Total Noncash Contributions2$354,900

Audited Revenue Reconciliation

Revenue per Audited Statements
$749,680
Revenue Not Reported on Form 990
$198,287
Total Revenue per Audited Statements
$947,967
Total Revenue per Form 990
$749,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$679,052
Salaries, Compensation, and Employee Benefits$10,495
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$46,653$9,662$0$56,315
Occupancy$17,337$8,369$0$25,706
Other Expenses$9,871$8,757$0$18,628
Other Salaries and Wages$2,025$8,470$0$10,495
Insurance$2,148$7,590$0$9,738
Fees for Services Accounting$860$7,805$0$8,665
Total Functional Expenses$556,569$132,978$0$689,547

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$887,834
Expenses per Audited Statements$689,547
Total Expenses per Form 990$689,547
Expenses Not Reported on Form 990$198,287
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 35% controlled entity
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
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bill Kirkland
Formed
2011
Legal Domicile
Sc
Voting Board Members
16
Independent Board Members
16
Employees
2
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.

Financial Statement Notes

Pt XI, Line 2D

Building Operations expense from Part VIII Line 6b

Pt XII, Line 2D

Building Operations expense from Part VIII Line 6b

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IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt044185
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt0354900
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IRS990/OccupancyGrp/TotalAmt025706
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IRS990/Organization501c3Ind0X
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IRS990/OtherExpensesGrp/Desc0In-Kind - Building lease
IRS990/OtherExpensesGrp/Desc1In- Kind - Employee Services
IRS990/OtherExpensesGrp/Desc2Office and other expense
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IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt165000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt28757
IRS990/OtherExpensesGrp/ProgramServicesAmt0329175
IRS990/OtherExpensesGrp/ProgramServicesAmt1148500
IRS990/OtherExpensesGrp/ProgramServicesAmt29871
IRS990/OtherExpensesGrp/TotalAmt0346500
IRS990/OtherExpensesGrp/TotalAmt1213500
IRS990/OtherExpensesGrp/TotalAmt218628
IRS990/OtherRevenueTotalAmt00
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt08470
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02025
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0179873
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt024604
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Bill Kirkland
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0Occupancy rental income and expenses for organizations participating in the incubator program Income 233,647 Expenses 198,287
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0766073
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt03
IRS990/PYOtherExpensesAmt0578538
IRS990/PYOtherRevenueAmt014925
IRS990/PYProgramServiceRevenueAmt07461
IRS990/PYRevenuesLessExpensesAmt0167973
IRS990/PYSalariesCompEmpBnftPaidAmt041951
IRS990/PYTotalExpensesAmt0620489
IRS990/PYTotalRevenueAmt0788462
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt060133
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt035360
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0629254
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0704254
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0766073
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0638300
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0743680
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0789371
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt03
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt010065
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt07461
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt08614
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt09721
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt05
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt0233647
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt0229133
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt0291017
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt0296025
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0937931
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01049426
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01057556
IRS990ScheduleA/Total509Grp/TotalAmt04995546
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04997471
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt07268
IRS990ScheduleD/EquipmentGrp/DepreciationAmt059172
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IRS990ScheduleD/ExpensesSubtotalAmt0689547
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt09006
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt026077
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt035083
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IRS990ScheduleD/OtherRevenueAmt0198287
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IRS990ScheduleD/RevenueSubtotalAmt0749680
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 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016274
IRS990ScheduleD/TotalExpensesPerForm990Amt0689547

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