Civic Intelligence

The Humanities Foundation Inc

990 • Fiscal year 2022 • EIN 57-0952289

Jan 01, 2022 to Dec 31, 2022 • Filed on Dec 02, 2023

474 Wando Park Blvd Suite 102Mount Pleasant, SC 29464

(843) 856-4120

Siviq Scores

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

Liabilities / Assets

48th percentile

0.20x

Higher debt load relative to assets than 48% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

85th percentile

1.84x

Higher debt load relative to revenue than 85% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

85th percentile

38%

Higher net margin than 85% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

38th percentile

$209,868

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

56th percentile

2.3%

Faster asset growth than 56% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

27th percentile

-8.5%

Faster revenue growth than 27% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Up

$31,582,528

Up $696,739 (+2.3%) from 2021

Net Assets

Up

$25,147,430

Up $1,334,862 (+5.6%) from 2021

Liabilities

Down

$6,435,098

Down $638,123 (-9.0%) from 2021

Revenue

Down

$3,501,082

Down $323,173 (-8.5%) from 2021

Expenses

Up

$2,166,220

Up $192,294 (+9.7%) from 2021

Net Income

Down

$1,334,862

Down $515,467 (-28%) from 2021

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2010: $16,853,522Liabilities 2010: $5,609,582Net Assets 2010: $11,243,9402010Assets 2011: $17,805,235Liabilities 2011: $5,769,602Net Assets 2011: $12,035,6332011Assets 2012: $18,561,286Liabilities 2012: $6,280,467Net Assets 2012: $12,280,8192012Assets 2013: $19,061,091Liabilities 2013: $6,483,189Net Assets 2013: $12,577,9022013Assets 2014: $18,284,207Liabilities 2014: $5,969,226Net Assets 2014: $12,314,9812014Assets 2015: $19,511,812Liabilities 2015: $6,248,633Net Assets 2015: $13,263,1792015Assets 2016: $22,115,119Liabilities 2016: $8,144,791Net Assets 2016: $13,970,3282016Assets 2017: $22,756,579Liabilities 2017: $8,056,520Net Assets 2017: $14,700,0592017Assets 2018: $24,394,181Liabilities 2018: $7,863,954Net Assets 2018: $16,530,2272018Assets 2019: $22,930,688Liabilities 2019: $6,187,270Net Assets 2019: $16,743,4182019Assets 2020: $26,880,521Liabilities 2020: $8,963,610Net Assets 2020: $17,916,9112020Assets 2021: $30,885,789Liabilities 2021: $7,073,221Net Assets 2021: $23,812,5682021Assets 2022: $31,582,528Liabilities 2022: $6,435,098Net Assets 2022: $25,147,4302022Assets 2023: $33,784,327Liabilities 2023: $6,755,067Net Assets 2023: $27,029,2602023Assets 2024: $36,742,481Liabilities 2024: $10,328,670Net Assets 2024: $26,413,8112024

Highlighted filing

2022

Assets$31,582,528
Liabilities$6,435,098
Net Assets$25,147,430

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $1,637,1992010Expenses 2011: $2,502,3512011Expenses 2012: $1,467,3412012Revenue 2013: $2,072,497Expenses 2013: $1,775,553Net Income 2013: $296,9442013Revenue 2014: $1,817,320Expenses 2014: $1,268,426Net Income 2014: $548,8942014Revenue 2015: $2,307,739Expenses 2015: $1,359,541Net Income 2015: $948,1982015Revenue 2016: $2,096,506Expenses 2016: $1,389,357Net Income 2016: $707,1492016Revenue 2017: $2,549,757Expenses 2017: $1,820,026Net Income 2017: $729,7312017Revenue 2018: $1,521,871Expenses 2018: $1,375,510Net Income 2018: $146,3612018Revenue 2019: $1,770,538Expenses 2019: $1,559,702Net Income 2019: $210,8362019Revenue 2020: $2,758,924Expenses 2020: $1,766,788Net Income 2020: $992,1362020Revenue 2021: $3,824,255Expenses 2021: $1,973,926Net Income 2021: $1,850,3292021Revenue 2022: $3,501,082Expenses 2022: $2,166,220Net Income 2022: $1,334,8622022Revenue 2023: $3,953,328Expenses 2023: $2,071,498Net Income 2023: $1,881,8302023Revenue 2024: $1,783,948Expenses 2024: $2,399,397Net Income 2024: -$615,4492024

Highlighted filing

2022

Revenue$3,501,082
Expenses$2,166,220
Net Income$1,334,862
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Dec 2, 2023
Return Version
2022v5.0
Gross Receipts
$3,501,082
Mission and Program Overview

Mission

To develop the highest quality affordable and workforce housing possible while enhancing the lives of our residents and improving the communities in which we develop through affordability, education and advocacy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$13,511,768$14,301,084▲ $789,316
Cash and Non-Interest-Bearing Accounts$1,715,349$1,442,241▼ $273,108
Loans From Officers Directors$571,806$450,199▼ $121,607
Land, Buildings, and Equipment, Net$7,474$166,736▲ $159,262
Investments Other Securities$-363,238$39,608▲ $402,846
Total Assets$30,885,789$31,582,528▲ $696,739
Other Assets Total$16,014,436$15,632,859▼ $381,577
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,367,476$5,907,947▼ $459,529
Accounts Payable and Accrued Expenses$133,939$76,952▼ $56,987
Total Liabilities$7,073,221$6,435,098▼ $638,123
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,812,568$25,147,430▲ $1,334,862
Total Net Assets Fund Balance$23,812,568$25,147,430▲ $1,334,862
Total Liabilities and Net Assets / Fund Balance$30,885,789$31,582,528▲ $696,739

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$166,736$242,705$409,441
Other Assets Org$248--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cheryl Ferraro CPASec/treasureFT$188,821$21,047$209,868
Cheryl Ferraro CPASec/treasurer-$152,907$56,961$209,868
Tracy T DoranPresidentPT$87,655$17,629$105,284

Board Members and Trustees

NameTitle
Robert DoranChairman Eme
Alisa G Mosley - Term EndedBoard Member
Anne WyattBoard Member
Elizabeth R DoranBoard Member
Melissa Maddox-evansBoard Member
Patti RandinelliBoard Member
Robert LachapelleBoard Member
Stephen R Schuler - Term EndedBoard Member
Greg Brooks - Term EndedAssist. Secr

Highest Paid Contractors

ContractorServicesLocationCompensation
Jdc Management LLCRealestate Mgt.474 WANDO PARK BLVD STE 102, Mount Pleasant, SC 29464$197,262
Jdc Residential LLCAsset Mgt.474 WANDO PARK BLVD STE 102, Mount Pleasant, SC 29464$115,233
Revenue and Support

Revenue Composition

Contributions and Grants
$1,092,145
Program Service Revenue
$1,697,972
Investment Income
$710,965
Other Revenue
$0
All Other Contributions
$657,278
Change in Net Assets
$1,334,862
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,103,502
Other Expenses$904,705
Grants and Similar Amounts Paid$158,013
Total Fundraising Expense$69,290
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$463,054$143,134$11,667$617,855
Fees for Services Other$369,048-$29,960$399,008
Current Officers, Directors, Trustees, and Key Employees$153,541$109,988$12,947$276,476
Grants to Domestic Individuals$158,013--$158,013
Other Employee Benefits$101,821$41,799$4,066$147,686
Travel$102,763$10,317-$113,080
Occupancy$58,892$24,176$2,350$85,418
Advertising$64,724$4,648-$69,372
Payroll Taxes$42,390$17,402$1,693$61,485
Insurance$44,132$13,534$1,177$58,843
Information Technology$32,521$13,351$1,299$47,171
Office Expenses$22,951$9,422$916$33,289
Fees for Services Accounting-$21,971-$21,971
Fees for Services Legal$16,479$3,163-$19,642
Interest$12,403--$12,403
Depreciation Depletion$8,482--$8,482
Other Expenses$2,800$-447$468$2,821
Conferences and Meetings$2,131--$2,131
All Other Expenses$768$451-$1,219
Total Functional Expenses$1,683,043$413,887$69,290$2,166,220
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tracy T Doranjdc Management LLCPresident-ownerRealestate Mgt.No$197,262
Robert Doranjdc Residential LLCPresident-ownerAsset ManagementNo$115,233

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$571,806$450,199▼ $121,607
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Anne wyatt the humanities foundation board member president sisters cheryl ferraro, cpa the humanities foundation board member president employee in ownded company elizabeth r. Doran the humanities foundation board member president daughter robert j. Doran the humanities foundation chair emerit president spouse

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

The form 990 is provided to management for review and comment. Once complete it is released to the board of directors for a comment period. Once the comment period is complete, and any questions are addressed, the form 990 is filed.

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

Board members are requested to sign conflict of interest forms annually.

Form 990, Page 6, Part VI, Line 15A

The board of directors performs periodic salary studies and comparability between similar organizations. The finance committee approves direct and contract salaries charged to the organization.

Form 990, Page 6, Part VI, Line 15B

The board of directors performs periodic salary studies and comparability between similar organizations. The finance committee approves direct and contract salaries charged to the organization.

Form 990, Page 6, Part VI, Line 18

Form 1023 and form 990 are available at the foundation's corporate offices as well as on other public websites.

Form 990, Page 6, Part VI, Line 19

Governing documents and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Humanities Foundation Inc
EIN
57-0952289
Phone
8438564120
Address
474 WANDO PARK BLVD SUITE 102, MOUNT PLEASANT, SC 29464

Signing Officer

Name
Cheryl Ferraro CPA
Title
Sec/treasurer
Signed
2023-12-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tracy T Doran
Formed
1992
Legal Domicile
Ga
Voting Board Members
8
Independent Board Members
5
Employees
20
Volunteers
2,008

Preparer

Firm
Glaser and Company LLC
Address
1859 SUMMERVILLE AVE STE 800, CHARLESTON, SC 29405
Preparer
Erik M Glaser CPA
Phone
8438490179
Supplemental Narrative

Additional Explanations

Form 990, Part III

Page 2, part iii, line 4a - continued affordable housing encompasses a broad spectrum of income levels and price ranges. What truly defines housing as "affordable" is the rent or mortgage payment relative to an individual or family's income. According to the federal government, rental housing is considered "affordable" if residents pay no more than 30 percent of their income on rent. Mortgage lenders generally evaluate a home's affordability when the mortgage payment does not exceed 35 percent of the borrower's income. In assessing affordability in relation to income, we employ the term "area median income" (ami), calculated and published annually by the u.s. Department of housing and urban development (hud). The term "median" indicates that half of all households in the area have income greater than this amount. The humanities foundation prioritizes affordable units for individuals with incomes within the 30% to 80% ami range. This means that residents in our communities earn less than half of the average income compared to the entire regional population. Ami serves as the basis for calculating rental amounts according to the 30% of income standard for affordable housing. We utilize public and private partnerships to ensure that rent remains affordable and that construction and maintenance costs do not place a burden on our residents. Recognizing the need for supportive services, the humanities foundation has established a range of strategic partnerships to offer services such as health screenings, health education programs, after-school activities, youth summer camps, meals, on-site food banks, and community gardens. In our housing program, we've undertaken various projects: magnolia 61: a 60-unit apartment complex designed for seniors aged 55 and older located at 1830 magwood drive, charleston, sc. Hampton west apartments: a 41-unit apartment development catering to seniors aged 55 and older with incomes at or below 100% of the area median income, situated at 554 rutledge avenue, charleston, sc. Shady grove apartments: a 72-unit apartment complex constructed for seniors aged 62 and older with incomes 50% below the area median income, situated at 1725 savage road, charleston, south carolina. Seven farms apartments: a 72-unit apartment community created for families with incomes 50% below the area median income, situated at 305 seven farms drive and daniel island drive, charleston, south carolina. Ivy ridge apartments: a 72-unit apartment development designed for families with incomes 50% below the area median income, located at 2215 greenridge road, north charleston, south carolina. Pine hill apartments: a 72-unit apartment complex constructed for families with incomes 50% below the area median income, situated at 117 yellow jasmine road, orangeburg, south carolina. Grandview apartments: a 72-unit apartment building designed for seniors with incomes 50% below the area median income, located at 1850 magwood road, charleston, south carolina. Waterford village: a 96-unit apartment development catering to families with incomes 50% below the area median income, situated at 61 waterford loop, staunton, virginia. Seven farms village: a 42-unit apartment building constructed for seniors with incomes 50% below the area median income, located at 305 seven farms drive, charleston, south carolina. Arbor hill senior apartments: a 56-unit apartment building created for seniors with incomes 50% below the area median income, situated at 388 east shamrock, pineville, louisiana. Montague terrace apartments: a 96-unit apartment complex constructed for families with incomes 50% below the area median income, located at 28 montague court, stuarts draft, virginia. Regent park apartments: a 72-unit apartment community designed for families with incomes 50% below the area median income, situated at 680 windsor lake way, columbia, south carolina. The gardens senior apartments: a 55-unit apartment building created for seniors with incomes 50% below th

Form 990, Page 2, Part III, Line 4D

Resident services and marketplace food program: our marketplace program, operated in collaboration with strategic partners like local churches, school districts, food pantries, and community organizations, strives to alleviate food insecurity. Utilizing a fleet of six refrigerated cargo vans and coordinated efforts by dedicated staff, we distribute food to apartment residents, organize community distributions, and address food deserts. Since its launch in 2014, the program has delivered over 5.1 million pounds of fresh food, equivalent to one meal per pound. Additionally, we're actively expanding our telemedicine program to bridge the gap caused by transportation challenges, enabling low-income seniors to connect with their healthcare providers through video services from the comfort of their homes. Our transportation services not only facilitate access to community events, health fairs, and educational programs but also foster a sense of camaraderie among residents during shopping trips. We take pride in offering after-school and summer programs that feature a diverse range of activities, including educational tours, arts and crafts, sports and recreation, entrepreneurship, technology workshops, and mentoring. These programs are a tribute to the memory of reverend clementa pinckney, a fervent advocate for education and youth development. In response to the tragic events of 2015 at the mother emanuel ame church in charleston, sc, these initiatives stand as a testament to our commitment to community enrichment. In the wake of the covid-19 pandemic that emerged in march 2020, the humanities foundation has intensified its resident services and community outreach efforts. To date, we've provided emergency financial assistance to more than 55,000 families, ensuring their access to utility services to prevent disconnection or eviction. Our marketplace food pantry program has contributed to over 5 million distributed meals through more than 350 curbside food distributions. Furthermore, we've assisted residents with information about virtual healthcare options, financial support, and access to telecommunications for remote learning, acknowledging the evolving needs of our community.

Form 990, Part IX, Line 11G

Asset management fees 369,048 0 0 grant writing 0 0 29,960 total 369,048 0 29,960

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IRS990/ProgSrvcAccomActyOtherGrp/Desc0RESIDENT SERVICES AND MARKETPLACE FOOD PROGRAM: OUR MARKETPLACE PROGRAM, OPERATED IN COLLABORATION WITH STRATEGIC PARTNERS LIKE LOCAL CHURCHES, SCHOOL DISTRICTS, FOOD PANTRIES, AND COMMUNITY ORGANIZATIONS, STRIVES TO ALLEVIATE FOOD INSECURITY. UTILIZING A FLEET OF SIX REFRIGERATED CARGO VANS AND COORDINATED EFFORTS BY DEDICATED STAFF, WE DISTRIBUTE FOOD TO APARTMENT RESIDENTS, ORGANIZE COMMUNITY DISTRIBUTIONS, AND ADDRESS FOOD DESERTS. SINCE ITS LAUNCH IN 2014, THE PROGRAM HAS DELIVERED OVER 5.1 MILLION POUNDS OF FRESH FOOD, EQUIVALENT TO ONE MEAL PER POUND. ADDITIONALLY, WE'RE ACTIVELY EXPANDING OUR TELEMEDICINE PROGRAM TO BRIDGE THE GAP CAUSED BY TRANSPORTATION CHALLENGES, ENABLING LOW-INCOME SENIORS TO CONNECT WITH THEIR HEALTHCARE PROVIDERS THROUGH VIDEO SERVICES FROM THE COMFORT OF THEIR HOMES. OUR TRANSPORTATION SERVICES NOT ONLY FACILITATE ACCESS TO COMMUNITY EVENTS, HEALTH FAIRS, AND EDUCATIONAL PROGRAMS BUT ALSO FOSTER A SENSE OF CAMARADERIE AMONG RESIDENTS DURING SHOPPING TRIPS. WE TAKE PRIDE IN OFFERING AFTER-SCHOOL AND SUMMER PROGRAMS THAT FEATURE A DIVERSE RANGE OF ACTIVITIES, INCLUDING EDUCATIONAL TOURS, ARTS AND CRAFTS, SPORTS AND RECREATION, ENTREPRENEURSHIP, TECHNOLOGY WORKSHOPS, AND MENTORING. THESE PROGRAMS ARE A TRIBUTE TO THE MEMORY OF REVEREND CLEMENTA PINCKNEY, A FERVENT ADVOCATE FOR EDUCATION AND YOUTH DEVELOPMENT. IN RESPONSE TO THE TRAGIC EVENTS OF 2015 AT THE MOTHER EMANUEL AME CHURCH IN CHARLESTON, SC, THESE INITIATIVES STAND AS A TESTAMENT TO OUR COMMITMENT TO COMMUNITY ENRICHMENT. IN THE WAKE OF THE COVID-19 PANDEMIC THAT EMERGED IN MARCH 2020, THE HUMANITIES FOUNDATION HAS INTENSIFIED ITS RESIDENT SERVICES AND COMMUNITY OUTREACH EFFORTS. TO DATE, WE'VE PROVIDED EMERGENCY FINANCIAL ASSISTANCE TO MORE THAN 55,000 FAMILIES, ENSURING THEIR ACCESS TO UTILITY SERVICES TO PREVENT DISCONNECTION OR EVICTION. OUR MARKETPLACE FOOD PANTRY PROGRAM HAS CONTRIBUTED TO OVER 5 MILLION DISTRIBUTED MEALS THROUGH MORE THAN 350 CURBSIDE FOOD DISTRIBUTIONS. FURTHERMORE, WE'VE ASSISTED RESIDENTS WITH INFORMATION ABOUT VIRTUAL HEALTHCARE OPTIONS, FINANCIAL SUPPORT, AND ACCESS TO TELECOMMUNICATIONS FOR REMOTE LEARNING, ACKNOWLEDGING THE EVOLVING NEEDS OF OUR COMMUNITY.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$36.7$10.3$26.4$1.78$2.40$0.62
2023Detailed filing. Detailed filing data is available for this year.$33.8$6.76$27.0$3.95$2.07$1.88
2022Detailed filing. Detailed filing data is available for this year.$31.6$6.44$25.1$3.50$2.17$1.33
2021Detailed filing. Detailed filing data is available for this year.$30.9$7.07$23.8$3.82$1.97$1.85
2020Detailed filing. Detailed filing data is available for this year.$26.9$8.96$17.9$2.76$1.77$0.99
2019Detailed filing. Detailed filing data is available for this year.$22.9$6.19$16.7$1.77$1.56$0.21
2018Detailed filing. Detailed filing data is available for this year.$24.4$7.86$16.5$1.52$1.38$0.15
2017Detailed filing. Detailed filing data is available for this year.$22.8$8.06$14.7$2.55$1.82$0.73
2016Detailed filing. Detailed filing data is available for this year.$22.1$8.14$14.0$2.10$1.39$0.71
2015Detailed filing. Detailed filing data is available for this year.$19.5$6.25$13.3$2.31$1.36$0.95
2014Detailed filing. Detailed filing data is available for this year.$18.3$5.97$12.3$1.82$1.27$0.55
2013Detailed filing. Detailed filing data is available for this year.$19.1$6.48$12.6$2.07$1.78$0.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.6$6.28$12.3$1.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.8$5.77$12.0$2.50
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.9$5.61$11.2$1.64
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $25M-$50M nonprofits