Civic Intelligence

Lowcountry Regional Development Corporation

990 • Fiscal year 2016 • EIN 57-0760598

Oct 01, 2015 to Sep 30, 2016 • Filed on Dec 23, 2016

Organization ProfileN/A
634 Campground RoadYemassee, SC 29945

(843) 726-5536

Siviq Scores

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

Liabilities / Assets

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.09x

Higher debt load relative to revenue than 55% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Net Margin

10th percentile

-13%

Higher net margin than 10% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

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

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Asset Growth

10th percentile

-17%

Faster asset growth than 10% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

99th percentile

175%

Faster revenue growth than 99% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets35th percentile

Assets

Down

$525,004

Down $104,354 (-17%) from 2015

Net Assets

Down

$514,840

Down $14,518 (-2.7%) from 2015

Liabilities

Down

$10,164

Down $89,836 (-90%) from 2015

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin10th percentile

Revenue

Up

$107,775

Up $68,586 (+175%) from 2015

Expenses

Up

$122,293

Up $119,381 (+4100%) from 2015

Net Income

Down

-$14,518

Down $50,795 (-140%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$1.0M$500K$0Assets 2010: $882,950Liabilities 2010: $380,299Net Assets 2010: $502,6512010Assets 2011: $840,966Liabilities 2011: $327,809Net Assets 2011: $513,1572011Assets 2012: $817,737Liabilities 2012: $274,378Net Assets 2012: $543,3592012Assets 2013: $811,816Liabilities 2013: $254,615Net Assets 2013: $557,2012013Assets 2014: $744,563Liabilities 2014: $251,482Net Assets 2014: $493,0812014Assets 2015: $629,358Liabilities 2015: $100,000Net Assets 2015: $529,3582015Assets 2016: $525,004Liabilities 2016: $10,164Net Assets 2016: $514,8402016Assets 2017: $376,784Liabilities 2017: $9,880Net Assets 2017: $366,9042017Assets 2018: $378,004Liabilities 2018: $18,093Net Assets 2018: $359,9112018Assets 2019: $448,250Liabilities 2019: $91,167Net Assets 2019: $357,0832019Assets 2020: $444,646Liabilities 2020: $89,444Net Assets 2020: $355,2022020Assets 2021: $440,074Liabilities 2021: $88,198Net Assets 2021: $351,8762021Assets 2022: $431,879Liabilities 2022: $83,500Net Assets 2022: $348,3792022Assets 2023: $413,222Liabilities 2023: $68,463Net Assets 2023: $344,7592023Assets 2024: $413,263Liabilities 2024: $72,178Net Assets 2024: $341,0852024Assets 2025: $334,856Net Assets 2025: $334,8562025

Highlighted filing

2016

Assets$525,004
Liabilities$10,164
Net Assets$514,840
Open 2016 Filing

Operations Trend

Revenue Growth99th percentile

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

$200K$100K$0-$100K-$200KRevenue 2010: $52,426Expenses 2010: $52,115Net Income 2010: $3112010Revenue 2011: $70,362Expenses 2011: $59,856Net Income 2011: $10,5062011Revenue 2012: $77,639Expenses 2012: $47,437Net Income 2012: $30,2022012Expenses 2013: $10,8232013Revenue 2014: $11,950Expenses 2014: $2,866Net Income 2014: $9,0842014Revenue 2015: $39,189Expenses 2015: $2,912Net Income 2015: $36,2772015Revenue 2016: $107,775Expenses 2016: $122,293Net Income 2016: -$14,5182016Revenue 2017: $5,155Expenses 2017: $153,091Net Income 2017: -$147,9362017Revenue 2018: $140Expenses 2018: $7,132Net Income 2018: -$6,9922018Revenue 2019: $647Expenses 2019: $3,475Net Income 2019: -$2,8282019Revenue 2020: $10,139Expenses 2020: $12,020Net Income 2020: -$1,8812020Revenue 2021: $44Expenses 2021: $3,370Net Income 2021: -$3,3262021Revenue 2022: $43Expenses 2022: $3,540Net Income 2022: -$3,4972022Revenue 2023: $42Expenses 2023: $3,662Net Income 2023: -$3,6202023Revenue 2024: $41Expenses 2024: $3,715Net Income 2024: -$3,6742024Revenue 2025: $35Expenses 2025: $6,265Net Income 2025: -$6,2302025

Highlighted filing

2016

Revenue$107,775
Expenses$122,293
Net Income-$14,518
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Dec 23, 2016
Return Version
2015v3.0
Gross Receipts
$107,775
Mission and Program Overview

Mission

Lrdc strives to stimulate economic development in the counties of beaufort, colleton, hampton, and jasper, south carolina, by offering attractive financing or lease arrangements on business sites to induce businesses to locate in the lowcountry area served by lrdc.

The organization stimulates economic development in a four county area by making various financing options and business sites available.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$497,556$393,202▼ $104,354
Land, Buildings, and Equipment, Net$131,802$131,802→ $0
Total Assets$629,358$525,004▼ $104,354
Liabilities
Deferred Revenue$100,000$10,164▼ $89,836
Total Liabilities$100,000$10,164▼ $89,836
Net Assets / Fund Balance
Temporarily Rstr Net Assets$331,810$331,810→ $0
Unrestricted Net Assets$197,548$183,030▼ $14,518
Total Net Assets Fund Balance$529,358$514,840▼ $14,518
Total Liabilities and Net Assets / Fund Balance$629,358$525,004▼ $104,354

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$131,802$41,726-
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Mr Thomas MannChairman
Mr Gerald DawsonVice-chairma
Dr Gwen Johnson SmithBoard Member
Dr Jerry StewartBoard Member
Dr Joe FlowersBoard Member
Judge Joseph McdomickBoard Member
Mayor Joey MalphrusBoard Member
Mayor Lisa B SulkaBoard Member
Mayor Nat ShafferBoard Member
Michael SweeneyBoard Member
Mr Bobby BondsBoard Member
Mr Brian E FlewellingBoard Member
Mr Charles H Buddy PhillipsBoard Member
Mr Evon RobinsonBoard Member
Mr Frankie BennetBoard Member
Mr Gene WhetsellBoard Member
Mr Henry C Lawton SrBoard Member
Mr Herbert GlazeBoard Member
Mr Marc a GrantBoard Member
Mr Phillip E CromerBoard Member
Mr Travis L Pete MixsonBoard Member
Mr William L McbrideBoard Member
Ms Alice HowardBoard Member
Ms Esther S BlackBoard Member
Ms Jane DarbyBoard Member
Ms Mary Beth HeywardBoard Member
Mr Henry EtheridgeSecretary
Mr Pete HagoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$106,000
Investment Income
$209
Other Revenue
$1,566
Change in Net Assets
$-14,518

Audited Revenue Reconciliation

Revenue per Audited Statements
$107,775
Total Revenue per Audited Statements
$107,775
Total Revenue per Form 990
$107,775
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$122,293
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$9,734-$9,734
Fees for Services Accounting-$3,000-$3,000
Other Expenses$109,525$34-$34
Total Functional Expenses$109,525$12,768$0$122,293

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$122,293
Total Expenses per Audited Statements$122,293
Total Expenses per Form 990$122,293
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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

Governance Explanations

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

“The organization provides form 990 for review by the governing body prior to filing.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Lowcountry Regional Development
EIN
57-0760598
Phone
8437265536
Address
634 CAMPGROUND ROAD, YEMASSEE, SC 29945

Signing Officer

Name
Sherry G Smith
Title
Finance Direct. Lcog
Phone
8437265536
Signed
2016-12-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherry G Smith
Formed
1983
Legal Domicile
Sc
Voting Board Members
28
Independent Board Members
28
Employees
0
Volunteers
28

Preparer

Firm
Crowley Wechsler & Associates LLC
Address
1411 QUEEN STREET, BEAUFORT, SC 29902
Preparer
Richard D Crowley CPA
Phone
8433791065
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IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt19TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt27BOARD MEMBER
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherExpensesGrp/Desc0GRANT REPAYMENT
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSE
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0SHERRY G SMITH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM LEASE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1FINANCING LEASES
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt041726
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES FORM 990 FOR REVIEW BY THE GOVERNING BODY PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt0197548

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$525,004
Liabilities
$10,164
Net assets
$514,840
Revenue
$107,775
Expenses
$122,293
Net income
-$14,518
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.35$3.35$0.00$0.06$0.06
2024Detailed filing. Detailed filing data is available for this year.$4.13$0.72$3.41$0.00$0.04$0.04
2023Detailed filing. Detailed filing data is available for this year.$4.13$0.68$3.45$0.00$0.04$0.04
2022Detailed filing. Detailed filing data is available for this year.$4.32$0.84$3.48$0.00$0.04$0.03
2021Detailed filing. Detailed filing data is available for this year.$4.40$0.88$3.52$0.00$0.03$0.03
2020Detailed filing. Detailed filing data is available for this year.$4.45$0.89$3.55$0.10$0.12$0.02
2019Detailed filing. Detailed filing data is available for this year.$4.48$0.91$3.57$0.01$0.03$0.03
2018Detailed filing. Detailed filing data is available for this year.$3.78$0.18$3.60$0.00$0.07$0.07
2017Detailed filing. Detailed filing data is available for this year.$3.77$0.10$3.67$0.05$1.53$1.48
2016Detailed filing. Detailed filing data is available for this year.$5.25$0.10$5.15$1.08$1.22$0.15
2015Detailed filing. Detailed filing data is available for this year.$6.29$1.00$5.29$0.39$0.03$0.36
2014Detailed filing. Detailed filing data is available for this year.$7.45$2.51$4.93$0.12$0.03$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.12$2.55$5.57$0.11
2012Summary only. Only limited summary data is available for this year.$8.18$2.74$5.43$0.78$0.47$0.30
2011Summary only. Only limited summary data is available for this year.$8.41$3.28$5.13$0.70$0.60$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.83$3.80$5.03$0.52$0.52$0.00