Civic Intelligence

Charleston Citywide Local Development

990 • Fiscal year 2022 • EIN 57-0707663

Oct 01, 2021 to Sep 30, 2022 • Filed on Nov 09, 2023

Organization Profile[email protected]

View Organization Page

2 Race StreetCharleston, SC 29403

(843) 973-7298

Siviq Scores

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

Liabilities / Assets

60th percentile

0.26x

Higher debt load relative to assets than 60% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

2.50x

Higher debt load relative to revenue than 83% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Net Margin

79th percentile

43%

Higher net margin than 79% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

45th percentile

$165,146

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2022

Asset Growth

58th percentile

4.3%

Faster asset growth than 58% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

20th percentile

-19%

Faster revenue growth than 20% of similar nonprofits.

2022 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$29,703,235

Up $1,220,078 (+4.3%) from 2021

Net Assets

Up

$21,997,584

Up $934,716 (+4.4%) from 2021

Liabilities

Up

$7,705,651

Up $285,362 (+3.8%) from 2021

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin79th percentile

Revenue

Down

$3,082,260

Down $737,153 (-19%) from 2021

Expenses

Up

$1,767,939

Up $650,259 (+58%) from 2021

Net Income

Down

$1,314,321

Down $1,387,412 (-51%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$40M$30M$20M$10M$0Assets 2010: $31,425,645Liabilities 2010: $2,031,533Net Assets 2010: $29,394,1122010Assets 2011: $33,559,793Liabilities 2011: $4,242,617Net Assets 2011: $29,317,1762011Assets 2012: $34,713,149Liabilities 2012: $4,711,169Net Assets 2012: $30,001,9802012Assets 2013: $35,121,621Liabilities 2013: $4,510,602Net Assets 2013: $30,611,0192013Assets 2014: $34,873,890Liabilities 2014: $3,787,985Net Assets 2014: $31,085,9052014Assets 2015: $35,206,201Liabilities 2015: $3,554,518Net Assets 2015: $31,651,6832015Assets 2016: $32,808,879Liabilities 2016: $4,724,324Net Assets 2016: $28,084,5552016Assets 2017: $32,865,019Liabilities 2017: $4,939,563Net Assets 2017: $27,925,4562017Assets 2018: $33,768,950Liabilities 2018: $5,550,377Net Assets 2018: $28,218,5732018Assets 2019: $23,942,089Liabilities 2019: $5,581,622Net Assets 2019: $18,360,4672019Assets 2020: $25,015,035Liabilities 2020: $7,213,818Net Assets 2020: $17,801,2172020Assets 2021: $28,483,157Liabilities 2021: $7,420,289Net Assets 2021: $21,062,8682021Assets 2022: $29,703,235Liabilities 2022: $7,705,651Net Assets 2022: $21,997,5842022Assets 2023: $35,516,078Liabilities 2023: $10,957,699Net Assets 2023: $24,558,3792023Assets 2024: $38,484,414Liabilities 2024: $12,206,705Net Assets 2024: $26,277,7092024

Highlighted filing

2022

Assets$29,703,235
Liabilities$7,705,651
Net Assets$21,997,584
Open 2022 Filing

Operations Trend

Revenue Growth20th percentile

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

$20M$10M$0-$10MExpenses 2010: $300,7662010Revenue 2011: $1,031,066Expenses 2011: $408,622Net Income 2011: $622,4442011Expenses 2012: $471,5142012Expenses 2013: $722,4452013Revenue 2014: $1,356,570Expenses 2014: $698,180Net Income 2014: $658,3902014Revenue 2015: $1,403,287Expenses 2015: $641,180Net Income 2015: $762,1072015Revenue 2016: $1,150,012Expenses 2016: $597,262Net Income 2016: $552,7502016Revenue 2017: $944,632Expenses 2017: $906,353Net Income 2017: $38,2792017Revenue 2018: $1,368,834Expenses 2018: $804,378Net Income 2018: $564,4562018Revenue 2019: $1,817,594Expenses 2019: $11,101,558Net Income 2019: -$9,283,9642019Revenue 2020: $1,962,961Expenses 2020: $1,176,022Net Income 2020: $786,9392020Revenue 2021: $3,819,413Expenses 2021: $1,117,680Net Income 2021: $2,701,7332021Revenue 2022: $3,082,260Expenses 2022: $1,767,939Net Income 2022: $1,314,3212022Revenue 2023: $5,137,686Expenses 2023: $2,062,871Net Income 2023: $3,074,8152023Revenue 2024: $3,390,070Expenses 2024: $2,558,387Net Income 2024: $831,6832024

Highlighted filing

2022

Revenue$3,082,260
Expenses$1,767,939
Net Income$1,314,321
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Nov 9, 2023
Return Version
2021v4.1
Gross Receipts
$3,756,025
Mission and Program Overview

Mission

The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$12,875,128$14,218,094▲ $1,342,966
Other Notes and Loans Receivable, Net$9,781,131$10,056,859▲ $275,728
Investments Other Securities$4,890,863$4,391,003▼ $499,860
Land, Buildings, and Equipment, Net$788,923$759,485▼ $29,438
Pledges and Grants Receivable$147,112$254,731▲ $107,619
Prepaid Expenses and Deferred Charges-$23,063-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$28,483,157$29,703,235▲ $1,220,078
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$5,758,303$5,698,101▼ $60,202
Other Liabilities$1,612,750$1,909,472▲ $296,722
Accounts Payable and Accrued Expenses$49,236$98,078▲ $48,842
Total Liabilities$7,420,289$7,705,651▲ $285,362
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,205,130$12,649,158▲ $1,444,028
Net Assets With Donor Restrictions$9,857,738$9,348,426▼ $509,312
Total Net Assets Fund Balance$21,062,868$21,997,584▲ $934,716
Total Liabilities and Net Assets / Fund Balance$28,483,157$29,703,235▲ $1,220,078

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$446,285$292,327$738,612
Leasehold Improvements$177,877$48,181$226,058
Other Land Buildings$49,094$51,670$100,764
Land$80,000-$80,000
Equipment$6,229$21,856$28,085
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cynthia RourkCEOFT$143,603$21,543$165,146

Board Members and Trustees

NameTitle
Casdell SingletonVice President
Carol JacksonDirector
Cary MiddletonDirector
Casdell E SingletonDirector
Chad YonceDirector
David HarperDirector
Grant A McAnultyDirector
Kerri ChisholmDirector
Stephanie PritchettDirector
William Thompson JrDirector
Yvonne D EvansAsst. Secretary
Bryan Mcneal JrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,497,425
Program Service Revenue
$1,080,729
Investment Income
$-495,894
Other Revenue
$0
Change in Net Assets
$1,314,321

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,082,260
Revenue Not Reported on Form 990
$-24,929
Total Revenue per Audited Statements
$3,057,331
Total Revenue per Form 990
$3,082,260
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$972,785
Other Expenses$795,154
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$568,906$100,395-$669,301
Fees for Services Other$150,602$51,515-$202,117
Payroll Taxes$149,386$16,598-$165,984
Current Officers, Directors, Trustees, and Key Employees$116,875$20,625-$137,500
Interest$73,991--$73,991
Depreciation Depletion$34,885--$34,885
Insurance-$25,424-$25,424
Other Expenses$20,010$12,482-$20,010
Total Functional Expenses$1,540,900$227,039$0$1,767,939

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,122,615
Expenses per Audited Statements$1,767,939
Total Expenses per Form 990$1,767,939
Expenses Not Reported on Form 990$354,676
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
City of Charleston$1,844,750
Contingent Liability$64,722
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The corporation has general members that elect board members in the organization's annual meeting each April. The nominating committee accepts applications from interested individuals and works to solicit and review the experience of potential candidates and presents a proposed slate to the general membership at the annual meeting. In May 2018, the organization iled 501(c)(3) application with the IRS and the required filings with the State of South Carolina to amend the Articles and Bylaws omitting membership.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Only electing members of the board”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“The corporation has general members that elect board members in the organization's annual meeting each April.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Draft of 990 is emailed to the audit committee for their review and then presented and discussed at the board meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization discusses any conflicts of interests in the monthly board meetings.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Comparative analysis is completed utilizing assessment tools through Economic Research Institute.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Yes through a freedom of information request”

Filing and Contact Details

Filer

Filer Name
CLIMB Fund
EIN
57-0707663
Phone
8439737298
Address
2 Race Street, Charleston, SC 29403

Signing Officer

Name
Cynthia Rourk
Title
CEO
Signed
2023-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Rourk
Formed
1979
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
13
Employees
21
Volunteers
20

Preparer

Firm
The Hobbs Group PA
Address
1704 Laurel Street, Columbia, SC 29201
Preparer
Allyson T DeHart CPA
Phone
8037990555
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Bad debt expense net of interest income = -$354676”

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“The process has not changed from the prior year”

Form 990 Part V Line 1C

“The organization had no reportable payments to a vendor requiring compliance with backup withholding rules, nor did they provide any reportable gaming, gambling, or winnings to a prize winner during the calendar year.”

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization has received a determination letter from the Internal Revenue Service indicating it is a tax exempt Organization under section 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes, unless income is generated from unrelated business activities. There is no unrelated business income for the fiscal year ending September 30, 2021. Management is not aware of any transactions which would jeopardize their tax exempt status. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the Organization and recognize a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be substantiated upon examination by the IRS. Management has analyzed the tax positions taken by the Organization and has concluded that as of September 30th, 2022 and 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods prior to 2016. U.S. state jurisdictions have statutes of limitations that generally range from three to five years. Currently, no audits for any tax periods are in progress.”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Bad Debt Expense Reported on AFS $354676”

Raw XML AppendixShowing 400 of 562 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt049236
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt098078
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes
IRS990/AdvertisingGrp/TotalAmt00
IRS990/AllOtherExpensesGrp/TotalAmt00
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BenefitsToMembersGrp/TotalAmt00
IRS990/BooksInCareOfDetail/PersonNm0Bryan Mcneal Jr
IRS990/BooksInCareOfDetail/PhoneNum08437243796
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt02 Race Street
IRS990/BooksInCareOfDetail/USAddress/CityNm0Charleston
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0SC
IRS990/BooksInCareOfDetail/USAddress/ZIPCd029403
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt012875128
IRS990/CashNonInterestBearingGrp/EOYAmt014218094
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt020625
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0116875
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0137500
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt00
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt02497425
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0-495894
IRS990/CYOtherExpensesAmt0795154
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt01080729
IRS990/CYRevenuesLessExpensesAmt01314321
IRS990/CYSalariesCompEmpBnftPaidAmt0972785
IRS990/CYTotalExpensesAmt01767939
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt03082260
IRS990/DecisionsSubjectToApprovaInd0true
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/ProgramServicesAmt034885
IRS990/DepreciationDepletionGrp/TotalAmt034885
IRS990/Desc0Lending ProgramsBusiness builder loans, SBA Microloan Program, small business loan program, real estate loans, line of credit, and Quick Recovery Loan programs provide funding to eligible businesses within the organization's service area to meet most needs that those businesses may have. although the Fund does not compete with the commercial lenders, it works in collaboration with the local banks and all small business resources in the community.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt09857738
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt09348426
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt021
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt01155675
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditPerformedInd0true
IRS990/FederalGrantAuditRequiredInd0true
IRS990/FeesForServicesAccountingGrp/TotalAmt00
IRS990/FeesForServicesLegalGrp/TotalAmt00
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt051515
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0150602
IRS990/FeesForServicesOtherGrp/TotalAmt0202117
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd0false
IRS990/Form1098CFiledInd0false
IRS990/Form8282FiledCnt00
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form8899Filedind0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt50.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt60.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt70.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt80.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt90.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt100.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt110.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt120.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt15.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt25.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt35.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt45.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt55.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt65.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt75.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt85.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt95.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt105.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt115.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt125.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd6X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt020043
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/PersonNm0Cynthia Rourk
IRS990/Form990PartVIISectionAGrp/PersonNm1Cary Middleton
IRS990/Form990PartVIISectionAGrp/PersonNm2Chad Yonce
IRS990/Form990PartVIISectionAGrp/PersonNm3Kerri Chisholm
IRS990/Form990PartVIISectionAGrp/PersonNm4David Harper
IRS990/Form990PartVIISectionAGrp/PersonNm5Casdell E Singleton
IRS990/Form990PartVIISectionAGrp/PersonNm6Grant A McAnulty
IRS990/Form990PartVIISectionAGrp/PersonNm7William Thompson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm8Stephanie Pritchett
IRS990/Form990PartVIISectionAGrp/PersonNm9Casdell Singleton
IRS990/Form990PartVIISectionAGrp/PersonNm10Yvonne D Evans
IRS990/Form990PartVIISectionAGrp/PersonNm11Carol Jackson
IRS990/Form990PartVIISectionAGrp/PersonNm12Bryan Mcneal Jr
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0145103
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Asst. Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Treasurer
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01979
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/SecuritiesAmt0-673765
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GovernmentGrantsAmt02497425
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt03756025
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt025424
IRS990/InsuranceGrp/TotalAmt025424
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ProgramServicesAmt073991
IRS990/InterestGrp/TotalAmt073991
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt0-24929
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0177871
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0177871
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt04890863
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt04391003
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt011
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0414034
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0788923
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0759485
IRS990/LandBldgEquipCostOrOtherBssAmt01173519
IRS990/LegalDomicileStateCd0SC
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0673765
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt021062868
IRS990/NetAssetsOrFundBalancesEOYAmt021997584
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-673765
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-673765
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt011205130
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt012649158
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt0-354676
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Other Expense
IRS990/OtherExpensesGrp/Desc1Property Expense
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt012482
IRS990/OtherExpensesGrp/ProgramServicesAmt0426245
IRS990/OtherExpensesGrp/ProgramServicesAmt120010
IRS990/OtherExpensesGrp/TotalAmt0438727
IRS990/OtherExpensesGrp/TotalAmt120010
IRS990/OtherLiabilitiesGrp/BOYAmt01612750
IRS990/OtherLiabilitiesGrp/EOYAmt01909472
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0100395
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0568906
IRS990/OtherSalariesAndWagesGrp/TotalAmt0669301
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt09781131
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt010056859
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt016598
IRS990/PayrollTaxesGrp/ProgramServicesAmt0149386
IRS990/PayrollTaxesGrp/TotalAmt0165984
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0147112
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0254731
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt023063
IRS990/PrincipalOfficerNm0Cynthia Rourk
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2525990
IRS990/ProgramServiceRevenueGrp/BusinessCd3531390
IRS990/ProgramServiceRevenueGrp/BusinessCd4525990
IRS990/ProgramServiceRevenueGrp/Desc0Interest Income-Loan
IRS990/ProgramServiceRevenueGrp/Desc1Loan Applications & SE
IRS990/ProgramServiceRevenueGrp/Desc2Other Income
IRS990/ProgramServiceRevenueGrp/Desc3Rental Income
IRS990/ProgramServiceRevenueGrp/Desc4SBA & USDA Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0768025
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1236223
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt250431
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt326050
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0768025
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1236223
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt250431
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt326050
IRS990/ProgSrvcAccomActy2Grp/Desc0Technical Assistance ProgramTechnical Assistance ProgramCoupled with its loan products, the organization provides both pre-loan counseling to prospective applicants and intensive post-loan developmental services to its borrowers. Such assistance occurs in various forums: one-on-one counseling, group sessions, workshops, seminars, classes, exhibitions, and site visits. Many of the group sessions are conducted in collaboration with local community resources such as SBDC, SCORE, or the SBA, just to name a few. Throughout the year, the Organization provided over 1,700 entrepreneurs some level of technical assistance at more than 130 seminars, workshops, or networking events.The organization views its one-on-one technical assistance as critical to providing a foundation for success and offers such assistance through several vehicles of delivery to include consultant team, staff, and its community resources. The consultant team allows the Organization to provide specialized training by offering bookkeeping and QuickBooks training and business counseling through its site visit program. During the year, 248 businesses have received almost 4,000 hours of specialized training.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0385225
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02397391
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0440025
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0411566
IRS990/PYProgramServiceRevenueAmt0981997
IRS990/PYRevenuesLessExpensesAmt02701733
IRS990/PYSalariesCompEmpBnftPaidAmt0706114
IRS990/PYTotalExpensesAmt01117680
IRS990/PYTotalRevenueAmt03819413
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01314321
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01080729
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02497425
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02497425
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01080729
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01080729
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt03578154
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt03578154
IRS990ScheduleA/Total509Grp/TotalAmt03578154
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt03578154
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03578154
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0446285
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0292327
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0738612
IRS990ScheduleD/EquipmentGrp/BookValueAmt06229
IRS990ScheduleD/EquipmentGrp/DepreciationAmt021856
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt028085
IRS990ScheduleD/ExpensesNotReportedAmt0354676
IRS990ScheduleD/ExpensesSubtotalAmt01767939
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt080000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt080000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0177877
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt048181
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0226058
IRS990ScheduleD/OtherExpensesIncludedAmt0354676
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt049094
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt051670
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0100764
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01844750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt164722
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0City of Charleston
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Contingent Liability
IRS990ScheduleD/OtherRevenueAmt0-24929
IRS990ScheduleD/RevenueNotReportedAmt0-24929

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$29,703,235
Liabilities
$7,705,651
Net assets
$21,997,584
Revenue
$3,082,260
Expenses
$1,767,939
Net income
$1,314,321
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.5$12.2$26.3$3.39$2.56$0.83
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.5$11.0$24.6$5.14$2.06$3.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$7.71$22.0$3.08$1.77$1.31
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.5$7.42$21.1$3.82$1.12$2.70
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.0$7.21$17.8$1.96$1.18$0.79
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.9$5.58$18.4$1.82$11.1$9.28
2018Summary only. Only limited summary data is available for this year.$33.8$5.55$28.2$1.37$0.80$0.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.9$4.94$27.9$0.94$0.91$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.8$4.72$28.1$1.15$0.60$0.55
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.2$3.55$31.7$1.40$0.64$0.76
2014Detailed filing. Detailed filing data is available for this year.$34.9$3.79$31.1$1.36$0.70$0.66
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.1$4.51$30.6$0.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.7$4.71$30.0$0.47
2011Summary only. Only limited summary data is available for this year.$33.6$4.24$29.3$1.03$0.41$0.62
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.4$2.03$29.4$0.30