Civic Intelligence

Florence Darlington Technical College Educational Foundation Inc

990 • Fiscal year 2019 • EIN 57-0679802

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 14, 2019

PO Box 100548Florence, SC 29502

(843) 661-8002

Siviq Scores

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

Liabilities / Assets

16th percentile

0.01x

Higher debt load relative to assets than 16% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

16th percentile

0.02x

Higher debt load relative to revenue than 16% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

1st percentile

-664%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

1st percentile

-72%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

2nd percentile

-77%

Faster revenue growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$2,100,722

Down $5,314,567 (-72%) from 2018

Net Assets

Down

$2,087,282

Down $4,231,794 (-67%) from 2018

Liabilities

Down

$13,440

Down $1,082,773 (-99%) from 2018

Revenue

Down

$635,820

Down $2,118,600 (-77%) from 2018

Expenses

Up

$4,860,725

Up $1,813,739 (+60%) from 2018

Net Income

Down

-$4,224,905

Down $3,932,339 (-1344%) from 2018

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $4,644,188Liabilities 2011: $1,972,263Net Assets 2011: $2,671,9252011Assets 2012: $4,372,153Liabilities 2012: $2,088,526Net Assets 2012: $2,283,6272012Assets 2013: $4,456,111Liabilities 2013: $1,964,742Net Assets 2013: $2,491,3692013Assets 2014: $4,916,626Liabilities 2014: $1,954,990Net Assets 2014: $2,961,6362014Assets 2015: $4,591,594Liabilities 2015: $1,811,050Net Assets 2015: $2,780,5442015Assets 2016: $9,720,686Liabilities 2016: $6,700,710Net Assets 2016: $3,019,9762016Assets 2017: $7,891,593Liabilities 2017: $1,331,568Net Assets 2017: $6,560,0252017Assets 2018: $7,415,289Liabilities 2018: $1,096,213Net Assets 2018: $6,319,0762018Assets 2019: $2,100,722Liabilities 2019: $13,440Net Assets 2019: $2,087,2822019Assets 2020: $2,392,675Liabilities 2020: $20,140Net Assets 2020: $2,372,5352020Assets 2021: $2,839,443Liabilities 2021: $17,243Net Assets 2021: $2,822,2002021Assets 2022: $2,573,381Liabilities 2022: $134,552Net Assets 2022: $2,438,8292022Assets 2023: $2,715,886Liabilities 2023: $30,381Net Assets 2023: $2,685,5052023Assets 2024: $2,902,907Liabilities 2024: $180,270Net Assets 2024: $2,722,6372024Assets 2025: $2,999,926Liabilities 2025: $31,914Net Assets 2025: $2,968,0122025

Highlighted filing

2019

Assets$2,100,722
Liabilities$13,440
Net Assets$2,087,282

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2011: $605,6532011Expenses 2012: $859,6482012Expenses 2013: $683,8832013Revenue 2014: $1,636,517Expenses 2014: $1,346,694Net Income 2014: $289,8232014Revenue 2015: $1,209,168Expenses 2015: $1,409,888Net Income 2015: -$200,7202015Revenue 2016: $793,592Expenses 2016: $530,804Net Income 2016: $262,7882016Revenue 2017: $6,296,859Expenses 2017: $2,876,459Net Income 2017: $3,420,4002017Revenue 2018: $2,754,420Expenses 2018: $3,046,986Net Income 2018: -$292,5662018Revenue 2019: $635,820Expenses 2019: $4,860,725Net Income 2019: -$4,224,9052019Revenue 2020: $688,507Expenses 2020: $370,190Net Income 2020: $318,3172020Revenue 2021: $546,352Expenses 2021: $234,172Net Income 2021: $312,1802021Revenue 2022: $284,921Expenses 2022: $302,868Net Income 2022: -$17,9472022Revenue 2023: $579,372Expenses 2023: $471,740Net Income 2023: $107,6322023Revenue 2024: $655,106Expenses 2024: $766,843Net Income 2024: -$111,7372024Revenue 2025: $797,956Expenses 2025: $721,356Net Income 2025: $76,6002025

Highlighted filing

2019

Revenue$635,820
Expenses$4,860,725
Net Income-$4,224,905
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$5,576,614
Mission and Program Overview

Mission

Raise monies through private funding to be used for the educational benefits of students. The foundation does not discriminate based on race, color, or creed.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,765,835--
Investments in Publicly Traded Securities$2,278,741--
Savings and Temporary Cash Investments$1,134,081$1,614,726▲ $480,645
Cash and Non-Interest-Bearing Accounts-$384,346-
Pledges and Grants Receivable$112,650$101,650▼ $11,000
Accounts Receivable$79,894--
Intangible Assets$12,759--
Inventories for Sale or Use$12,416--
Prepaid Expenses and Deferred Charges$10,592--
Total Assets$7,415,289$2,100,722▼ $5,314,567
Other Assets Total$8,321--
Liabilities
Deferred Revenue$930,645--
Accounts Payable and Accrued Expenses$165,568$13,440▼ $152,128
Total Liabilities$1,096,213$13,440▼ $1,082,773
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,449,906$1,650,398▼ $799,508
Permanently Rstr Net Assets$467,678$466,678▼ $1,000
Unrestricted Net Assets$3,401,492$-29,794▼ $3,431,286
Total Net Assets Fund Balance$6,319,076$2,087,282▼ $4,231,794
Total Liabilities and Net Assets / Fund Balance$7,415,289$2,100,722▼ $5,314,567

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,627,366$157,987▲ $315-$2,117,076
2017$2,917,585$393,079▲ $10,829-$2,627,366
2016$3,066,790$1,001,796▲ $8,640-$2,917,585
2015$2,850,441$645,902▲ $3,468-$3,066,790
2014$3,047,422$1,078,051▼ $23,401-$2,850,441
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joan BillheimerChair
Mindy TaylorVice Chair
Fred DubardBoard Member
James Ivey JrBoard Member
Jay LavrincBoard Member
Jeff HeltonBoard Member
Jeff SingletaryBoard Member
Jim RamseyBoard Member
Johnny RishmawiBoard Member
Jon WeissBoard Member
Leo BonaparteBoard Member
Marie SaleebyBoard Member
Mike ReichenbachBoard Member
Randy ColeBoard Member
Richard HavekostBoard Member
Scott MitchellBoard Member
Scotty DavisBoard Member
Tommy PruittBoard Member
Jeff PayneSecretary
John BanksonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$282,048
Program Service Revenue
$239,801
Investment Income
$108,338
Other Revenue
$5,633
All Other Contributions
$282,048
Change in Net Assets
$-4,224,905

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table3$112,500
Total Noncash Contributions3$112,500

Audited Revenue Reconciliation

Revenue per Audited Statements
$523,320
Revenue Not Reported on Financial Statements
$112,500
Revenue Not Reported on Form 990
$-406,734
Other Revenue Adjustments
$112,500
Total Revenue per Audited Statements
$116,586
Total Revenue per Form 990
$635,820
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,618,008
Other Expenses$1,242,717
Total Fundraising Expense$13,325
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,483,822--$3,483,822
Grants to Domestic Individuals$134,186--$134,186
Fees for Services Accounting-$47,835-$47,835
Depreciation Depletion$45,439--$45,439
Fees for Services Other$30,323--$30,323
Fees for Services Management$11,307$5,000$5,000$21,307
Fees for Service Investment Mgmnt Fees-$14,482-$14,482
Travel-$4,317-$4,317
Insurance-$2,242-$2,242
Office Expenses--$30$30
Other Expenses$374,059$20$8,295$20
Total Functional Expenses$4,773,504$73,896$13,325$4,860,725

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,860,725
Expenses per Audited Statements$4,348,377
Total Expenses per Audited Statements$4,348,377
Expenses Not Reported on Financial Statements$512,348
Other Expense Adjustments$512,348
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Lake City CommunityLake City, SC--$881,765
Darla Moore FoundationLake City, SC---
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
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
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

Governance Explanations

Form 990, Page 6, Part VI, Line 4

Section 1.2 - changed to specify that organization supports only fdtc students and fdtc. Section 3.1 - changed minimum number of board members from 10 to 15, rotation off of board after two terms. Section 4.1 through 4.6 - clarification of officer duties and terms of service, specified when officer elections will be held. Section 12.1 - changed the requirement to temporarily suspend a particular bylaw from unanimous vote to 2/3 majority vote. Changed title of director of development to executive director.

Form 990, Page 6, Part VI, Line 11B

The audit report is presented first to the executive director and then to the board. Once the board approves the audit report, the 990 is prepared from the audit report. The treasurer reviews, signs and authorizes the filing of the form 990.

Form 990, Page 6, Part VI, Line 12C

The foundation recognizes that any potential conflict of interest raised by financial, business, and charitable and other activities outside the foundation must be disclosed promptly to the directors.

Form 990, Page 6, Part VI, Line 19

The foundation honors the requirements of the laws governing requests for such documents from the public and federal and state agencies. These documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Florence Darlington Technical
EIN
57-0679802
Phone
8436618002
Address
PO BOX 100548, FLORENCE, SC 29502

Signing Officer

Name
John Bankson
Title
Treasurer
Phone
8436618002
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joan Billheimer
Formed
1978
Voting Board Members
20
Independent Board Members
20
Employees
0
Volunteers
20

Preparer

Firm
Moore Beauston & Woodham Llp
Address
150 N 9TH STREET, WEST COLUMBIA, SC 29169
Preparer
William Arnott Iv CPA
Phone
8037917472
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

ROUNDING -3

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Hotel expenses netted with revenue for audited financial -385,366 investment fees netted with investment income -14,482

Schedule D, Page 4, Part XI, Line 4B

Non-cash contributions 112,500

Schedule D, Page 4, Part XII, Line 4B

Hotel expenses netted with revenue on audited fs 385,366 college program support - donated steel 112,500 investment expenses netted against rev on audited fs 14,482

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.00$0.03$2.97$0.80$0.72$0.08
2024Detailed filing. Detailed filing data is available for this year.$2.90$0.18$2.72$0.66$0.77$0.11
2023Detailed filing. Detailed filing data is available for this year.$2.72$0.03$2.69$0.58$0.47$0.11
2022Detailed filing. Detailed filing data is available for this year.$2.57$0.13$2.44$0.28$0.30$0.02
2021Detailed filing. Detailed filing data is available for this year.$2.84$0.02$2.82$0.55$0.23$0.31
2020Detailed filing. Detailed filing data is available for this year.$2.39$0.02$2.37$0.69$0.37$0.32
2019Detailed filing. Detailed filing data is available for this year.$2.10$0.01$2.09$0.64$4.86$4.22
2018Detailed filing. Detailed filing data is available for this year.$7.42$1.10$6.32$2.75$3.05$0.29
2017Detailed filing. Detailed filing data is available for this year.$7.89$1.33$6.56$6.30$2.88$3.42
2016Detailed filing. Detailed filing data is available for this year.$9.72$6.70$3.02$0.79$0.53$0.26
2015Detailed filing. Detailed filing data is available for this year.$4.59$1.81$2.78$1.21$1.41$0.20
2014Detailed filing. Detailed filing data is available for this year.$4.92$1.95$2.96$1.64$1.35$0.29
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.46$1.96$2.49$0.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.37$2.09$2.28$0.86
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.64$1.97$2.67$0.61