Civic Intelligence

Lowcountry Regional Development Corporation

990 • Fiscal year 2018 • EIN 57-0760598

Oct 01, 2017 to Sep 30, 2018 • Filed on Jan 23, 2019

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

67th percentile

0.05x

Higher debt load relative to assets than 67% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

100th percentile

129.24x

Higher debt load relative to revenue than 100% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Net Margin

1st percentile

-4994%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Asset Growth

47th percentile

0.3%

Faster asset growth than 47% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-97%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$378,004

Up $1,220 (+0.3%) from 2017

Net Assets

Down

$359,911

Down $6,993 (-1.9%) from 2017

Liabilities

Up

$18,093

Up $8,213 (+83%) from 2017

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$140

Down $5,015 (-97%) from 2017

Expenses

Down

$7,132

Down $145,959 (-95%) from 2017

Net Income

Up

-$6,992

Up $140,944 (+95%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth47th 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

2018

Assets$378,004
Liabilities$18,093
Net Assets$359,911
Open 2018 Filing

Operations Trend

Revenue Growth1st 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

2018

Revenue$140
Expenses$7,132
Net Income-$6,992
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jan 23, 2019
Return Version
2017v2.3
Gross Receipts
$140
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$376,783$378,004▲ $1,221
Total Assets$376,783$378,004▲ $1,221
Liabilities
Other Liabilities$7,175$18,093▲ $10,918
Accounts Payable and Accrued Expenses$2,705$0▼ $2,705
Total Liabilities$9,880$18,093▲ $8,213
Net Assets / Fund Balance
Temporarily Rstr Net Assets$331,810$331,810→ $0
Unrestricted Net Assets$35,093$28,101▼ $6,992
Total Net Assets Fund Balance$366,903$359,911▼ $6,992
Total Liabilities and Net Assets / Fund Balance$376,783$378,004▲ $1,221
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Mr Bobby BondsChair
Mr Pete HagoodVice Chair
Charles SavinoBoard Member
Dr Gwen Johnson SmithBoard Member
Dr Joe FlowersBoard Member
Jl GoodwinBoard Member
Mayor Joey MalphrusBoard Member
Mayor Nat ShafferBoard Member
Mayor Tim GrimsleyBoard Member
Mr Crawford MooreBoard Member
Mr Dan WoodBoard Member
Mr Evon RobinsonBoard Member
Mr Henry Lawton SrBoard Member
Mr Herbert GlazeBoard Member
Mr Joseph McdomickBoard Member
Mr Marc GrantBoard Member
Mr Michael CovertBoard Member
Mr Philip CromerBoard Member
Mr Ronald MixsonBoard Member
Mr Tommy MannBoard Member
Mr Travis Pete MixsonBoard Member
Mr York GloverBoard Member
Ms Alice HowardBoard Member
Ms Esther BlackBoard Member
Ms Mary Beth HeywardBoard Member
Mr Buddy PhillipsExec Cmte
Mr Gene WhetsellExec Cmte
Mr Gerald DawsonExec Cmte
Mr Tom JohnsonExec Cmte
John CarrollSecretary
Mr Brian FlewellingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$140
Other Revenue
$0
Change in Net Assets
$-6,992

Audited Revenue Reconciliation

Revenue per Audited Statements
$140
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2,282
Total Revenue per Audited Statements
$2,422
Total Revenue per Form 990
$140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,132
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-$4,055-$4,055
Fees for Services Accounting-$3,000-$3,000
Other Expenses-$77-$77
Total Functional Expenses$0$7,132$0$7,132

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,414
Expenses per Audited Statements$7,132
Total Expenses per Form 990$7,132
Expenses Not Reported on Form 990$2,282
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$18,093
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section C, 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 Director Lcog
Phone
8437265536
Signed
2019-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherry G Smith
Formed
1983
Legal Domicile
Sc
Voting Board Members
31
Independent Board Members
31
Employees
0
Volunteers
0

Preparer

Firm
Mcgregor & Company Llp
Address
1190 BOULEVARD STREET, ORANGEBURG, SC 29115-4353
Preparer
Lori B Salley
Phone
8035361015
Supplemental Narrative

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Funds held for others received - flow through 2,282.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Funds held for others expended - flow through 2,282.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2EXEC CMTE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17EXEC CMTE
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt22EXEC CMTE
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt25BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt26SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt27EXEC CMTE
IRS990/Form990PartVIISectionAGrp/TitleTxt28BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt29BOARD MEMBER
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt031
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0140
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt031
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
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IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
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IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FUNDS HELD FOR OTHERS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDS HELD FOR OTHERS RECEIVED - FLOW THROUGH 2,282.

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$378,004
Liabilities
$18,093
Net assets
$359,911
Revenue
$140
Expenses
$7,132
Net income
-$6,992
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