Civic Intelligence

Lexington County Development Corporation

990 • Fiscal year 2022 • EIN 57-0737954

Dec 01, 2021 to Jun 30, 2022 • Filed on Feb 28, 2023

Organization ProfileN/A
1006 Twelfth StCayce, SC 29033

(803) 794-7835

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

23rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Net Margin

1st percentile

-266%

Higher net margin than 1% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Asset Growth

38th percentile

-2.5%

Faster asset growth than 38% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Down

$736,400

Down $18,627 (-2.5%) from 2021

Net Assets

Down

$736,400

Down $18,627 (-2.5%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin1st percentile

Revenue

Up

$7,005

Up $42,725 (+120%) from 2021

Expenses

Up

$25,632

Up $25,632 from 2021

Net Income

Up

-$18,627

Up $17,093 (+48%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$1.0M$500K$0Assets 2011: $875,831Liabilities 2011: $254,338Net Assets 2011: $621,4932011Assets 2012: $866,087Liabilities 2012: $249,241Net Assets 2012: $616,8462012Assets 2013: $835,613Liabilities 2013: $252,051Net Assets 2013: $583,5622013Assets 2014: $895,148Liabilities 2014: $245,919Net Assets 2014: $649,2292014Assets 2015: $882,018Liabilities 2015: $246,211Net Assets 2015: $635,8072015Assets 2016: $824,498Liabilities 2016: $233,030Net Assets 2016: $591,4682016Assets 2017: $850,557Liabilities 2017: $217,324Net Assets 2017: $633,2332017Assets 2018: $828,553Liabilities 2018: $193,766Net Assets 2018: $634,7872018Assets 2019: $801,571Liabilities 2019: $180,718Net Assets 2019: $620,8532019Assets 2020: $790,747Liabilities 2020: $0Net Assets 2020: $790,7472020Assets 2021: $755,027Liabilities 2021: $0Net Assets 2021: $755,0272021Assets 2022: $736,400Liabilities 2022: $0Net Assets 2022: $736,4002022Assets 2023: $697,073Liabilities 2023: $0Net Assets 2023: $697,0732023Assets 2024: $735,596Liabilities 2024: $0Net Assets 2024: $735,5962024Assets 2025: $745,131Liabilities 2025: $0Net Assets 2025: $745,1312025

Highlighted filing

2022

Assets$736,400
Liabilities$0
Net Assets$736,400
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100KRevenue 2011: $57,898Expenses 2011: $49,793Net Income 2011: $8,1052011Revenue 2012: $60,469Expenses 2012: $65,116Net Income 2012: -$4,6472012Revenue 2013: $29,032Expenses 2013: $62,316Net Income 2013: -$33,2842013Revenue 2014: $101,359Expenses 2014: $35,692Net Income 2014: $65,6672014Revenue 2015: $20,475Expenses 2015: $35,335Net Income 2015: -$14,8602015Revenue 2016: $14,242Expenses 2016: $58,580Net Income 2016: -$44,3382016Revenue 2017: $180,895Expenses 2017: $139,130Net Income 2017: $41,7652017Revenue 2018: $70,785Expenses 2018: $69,231Net Income 2018: $1,5542018Revenue 2019: $69,769Expenses 2019: $83,702Net Income 2019: -$13,9332019Revenue 2020: $234,412Expenses 2020: $64,519Net Income 2020: $169,8932020Revenue 2021: -$35,720Expenses 2021: $0Net Income 2021: -$35,7202021Revenue 2022: $7,005Expenses 2022: $25,632Net Income 2022: -$18,6272022Revenue 2023: $138,997Expenses 2023: $178,324Net Income 2023: -$39,3272023Revenue 2024: $150,965Expenses 2024: $112,444Net Income 2024: $38,5212024Revenue 2025: $128,160Expenses 2025: $118,625Net Income 2025: $9,5352025

Highlighted filing

2022

Revenue$7,005
Expenses$25,632
Net Income-$18,627
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2021 to Jun 30, 2022
Signed
Feb 28, 2023
Return Version
2021v4.0
Gross Receipts
$21,722
Mission and Program Overview

Mission

ECONOMIC DEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$755,027$736,400▼ $18,627
Land, Buildings, and Equipment, Net$529,740$521,844▼ $7,896
Cash and Non-Interest-Bearing Accounts$225,287$214,556▼ $10,731
Total Assets$755,027$736,400▼ $18,627
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$755,027$736,400▼ $18,627
Total Liabilities and Net Assets / Fund Balance$755,027$736,400▼ $18,627

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$296,371$239,052$535,423
Land$225,473-$225,473
Equipment-$2,585$2,585
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Donald BurkettChair
Eddie RichardsonPresident
Ben SpearmanVice Chair
Akil RossBoard Member
Blake DowdBoard Member
Bob PaullingBoard Member
Charles WingardBoard Member
Doug Clary JrBoard Member
Elise PartinBoard Member
Kevin AdamsBoard Member
Mike TaylorBoard Member
Nikki SetzlerBoard Member
Richard JacksonBoard Member
Roger SipeBoard Member
Steve MacdougallBoard Member
Morgan HarrellSecretary
Ron RhamesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$500
Program Service Revenue
$0
Investment Income
$100
Other Revenue
$6,405
Change in Net Assets
$-18,627
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,632
Total Fundraising Expense$6,559
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$15,126--$15,126
Conferences and Meetings$1,400$2-$1,402
Other Expenses$500$2,018$1,016$500
All Other Expenses-$27-$27
Total Functional Expenses$17,026$2,047$6,559$25,632
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,500
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“Fiscal year end has been changed to june 30 per updated bylaws as amended november 9, 2022.”

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Lexington County Development
EIN
57-0737954
Address
1006 TWELFTH ST, CAYCE, SC 29033

Signing Officer

Name
Donald Burkett
Title
Chair
Signed
2023-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eddie Richardson
Legal Domicile
Sc
Voting Board Members
17
Independent Board Members
17
Employees
0

Preparer

Firm
Burkett Burkett & Burkett Cpas Pa
Address
PO BOX 2044, WEST COLUMBIA, SC 29171
Preparer
Ronald H Burkett CPA
Phone
8037943712
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IRS990/ReconcilationRevenueExpnssAmt0-18627
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-7517
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0755027
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0736400
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0296371
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0239052
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0535423
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02585
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02585
IRS990ScheduleD/LandGrp/BookValueAmt0225473
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0225473
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0521844
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FISCAL YEAR END HAS BEEN CHANGED TO JUNE 30 PER UPDATED BYLAWS AS AMENDED NOVEMBER 9, 2022.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SpecialConditionDesc0CHANGE IN ACCOUNTING PERIOD
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0755027
IRS990/TotalAssetsEOYAmt0736400
IRS990/TotalAssetsGrp/BOYAmt0755027
IRS990/TotalAssetsGrp/EOYAmt0736400
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06559
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02047
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt017026
IRS990/TotalFunctionalExpensesGrp/TotalAmt025632
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0755027
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0736400
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-3995
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07005
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0755027
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0736400
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt01936 AMICK DRIVE
IRS990/USAddress/CityNm0GILBERT
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029054
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReasonableCauseExplanation/ExplanationTxt0THE ORGANIZATION REQUESTS THAT NO LATE FILING PENALTIES BE ASSESSED FOR FILING YEAR 2021 WHICH ENDED 6/30/22. THE PREPARER SPOKE WITH IRS AGENT 1002553336 ON 2/1/24 WHO WAS UNABLE DETERMINE WHERE THE 2021 FORM WAS IN THE IRS SYSTEM. THE ORGANIZATION'S 2022 FILING WAS REJECTED DUE TO THE FISCAL YEAR END CHANGES MADE ON THE 2021 FILING YEAR RETURN FROM 11/30 TO 6/30. THESE CHANGES HAVE NOT BEEN RECORDED IN THE IRS SYSTEM AS OF 2/1/24 WHICH HAS CAUSED THE 2022 FORM 990 TO BE REJECTED FOR DATE ERRORS. THE IRS AGENT STATED THAT THE ORGANIZATION NEEDED TO RE-FILE THE 2021 FORM 990 AS AN E-FILE. WHEN THE 2021 RETURN IS PROCESSED WITH THE UPDATED FISCAL YEAR END OF 6/30 BY THE IRS, THE ORGANIZTION WILL BE ABLE TO SUCCESSFULLY ELECTRONICALLY FILE THE 2022 FORM 990. IRS FORM 990 WAS TIMELY FILED ON 3/1/23 BY POSTAL SERVICE TO THE IRS OFFICE IN OGDEN, UTAH. WE ARE AWARE THAT THE IRS CONTINUES TO HAVE A SIGNIFICANT AMOUNT OF UNOPENED MAIL TO PROCESS. AS WE HAVE NOT RECEIVED THE 2021 FORM 990 RETUR
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD BURKETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-02-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEXINGTON COUNTY DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0LEXI
ReturnHeader/Filer/EIN0570737954
ReturnHeader/Filer/USAddress/AddressLine1Txt01006 TWELFTH ST
ReturnHeader/Filer/USAddress/CityNm0CAYCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029033
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570692602
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURKETT BURKETT & BURKETT CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2044
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST COLUMBIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029171
ReturnHeader/PreparerPersonGrp/PhoneNum08037943712
ReturnHeader/PreparerPersonGrp/PreparationDt02024-02-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD H BURKETT CPA
ReturnHeader/ReturnTs02024-02-01T17:09:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DONNY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BURKETT
ReturnHeader/TaxPeriodBeginDt02021-12-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$736,400
Liabilities
$0
Net assets
$736,400
Revenue
$7,005
Expenses
$25,632
Net income
-$18,627
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.45$0.00$7.45$1.28$1.19$0.10
2024Detailed filing. Detailed filing data is available for this year.$7.36$0.00$7.36$1.51$1.12$0.39
2023Detailed filing. Detailed filing data is available for this year.$6.97$0.00$6.97$1.39$1.78$0.39
2022Detailed filing. Detailed filing data is available for this year.$7.36$0.00$7.36$0.07$0.26$0.19
2021Detailed filing. Detailed filing data is available for this year.$7.55$0.00$7.55$0.36$0.00$0.36
2020Summary only. Only limited summary data is available for this year.$7.91$0.00$7.91$2.34$0.65$1.70
2019Summary only. Only limited summary data is available for this year.$8.02$1.81$6.21$0.70$0.84$0.14
2018Summary only. Only limited summary data is available for this year.$8.29$1.94$6.35$0.71$0.69$0.02
2017Summary only. Only limited summary data is available for this year.$8.51$2.17$6.33$1.81$1.39$0.42
2016Summary only. Only limited summary data is available for this year.$8.24$2.33$5.91$0.14$0.59$0.44
2015Summary only. Only limited summary data is available for this year.$8.82$2.46$6.36$0.20$0.35$0.15
2014Summary only. Only limited summary data is available for this year.$8.95$2.46$6.49$1.01$0.36$0.66
2013Summary only. Only limited summary data is available for this year.$8.36$2.52$5.84$0.29$0.62$0.33
2012Summary only. Only limited summary data is available for this year.$8.66$2.49$6.17$0.60$0.65$0.05
2011Summary only. Only limited summary data is available for this year.$8.76$2.54$6.21$0.58$0.50$0.08