Civic Intelligence

Charleston Regional Development Alliance

990 • Fiscal year 2023 • EIN 57-1015804

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 09, 2024

4401 Belle Oaks Drive Suite 420North Charleston, SC 29405

(843) 767-9300

Siviq Scores

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

Liabilities / Assets

55th percentile

0.19x

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

45th percentile

0.15x

Higher debt load relative to revenue than 45% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

25th percentile

-3.8%

Higher net margin than 25% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

94th percentile

$401,682

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

35th percentile

1.2%

Faster asset growth than 35% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

50th percentile

8.1%

Faster revenue growth than 50% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$3,047,981

Up $35,917 (+1.2%) from 2022

Net Assets

Down

$2,480,031

Down $144,775 (-5.5%) from 2022

Liabilities

Up

$567,950

Up $180,692 (+47%) from 2022

Revenue

Up

$3,842,868

Up $286,372 (+8.1%) from 2022

Expenses

Up

$3,987,643

Up $225,022 (+6.0%) from 2022

Net Income

Up

-$144,775

Up $61,350 (+30%) from 2022

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $1,215,869Liabilities 2010: $213,461Net Assets 2010: $1,002,4082010Assets 2011: $1,032,944Liabilities 2011: $81,876Net Assets 2011: $951,0682011Assets 2012: $1,352,041Liabilities 2012: $216,289Net Assets 2012: $1,135,7522012Assets 2013: $1,471,106Liabilities 2013: $220,252Net Assets 2013: $1,250,8542013Assets 2014: $1,906,120Liabilities 2014: $782,653Net Assets 2014: $1,123,4672014Assets 2015: $2,413,886Liabilities 2015: $453,728Net Assets 2015: $1,960,1582015Assets 2016: $2,540,561Liabilities 2016: $643,054Net Assets 2016: $1,897,5072016Assets 2017: $2,492,991Liabilities 2017: $445,735Net Assets 2017: $2,047,2562017Assets 2018: $2,440,147Liabilities 2018: $388,740Net Assets 2018: $2,051,4072018Assets 2019: $2,395,166Liabilities 2019: $379,169Net Assets 2019: $2,015,9972019Assets 2020: $2,681,592Liabilities 2020: $245,952Net Assets 2020: $2,435,6402020Assets 2021: $3,298,380Liabilities 2021: $437,988Net Assets 2021: $2,860,3922021Assets 2022: $3,012,064Liabilities 2022: $387,258Net Assets 2022: $2,624,8062022Assets 2023: $3,047,981Liabilities 2023: $567,950Net Assets 2023: $2,480,0312023Assets 2024: $3,766,841Liabilities 2024: $1,502,039Net Assets 2024: $2,264,8022024Assets 2025: $3,578,192Liabilities 2025: $1,317,897Net Assets 2025: $2,260,2952025

Highlighted filing

2023

Assets$3,047,981
Liabilities$567,950
Net Assets$2,480,031

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,819,4092010Revenue 2011: $2,234,460Expenses 2011: $2,285,800Net Income 2011: -$51,3402011Expenses 2012: $2,733,7862012Revenue 2013: $3,263,409Expenses 2013: $3,148,307Net Income 2013: $115,1022013Revenue 2014: $3,027,412Expenses 2014: $3,154,799Net Income 2014: -$127,3872014Revenue 2015: $3,443,785Expenses 2015: $2,607,094Net Income 2015: $836,6912015Revenue 2016: $3,498,293Expenses 2016: $3,391,887Net Income 2016: $106,4062016Revenue 2017: $3,545,577Expenses 2017: $3,397,760Net Income 2017: $147,8172017Revenue 2018: $3,451,756Expenses 2018: $3,441,700Net Income 2018: $10,0562018Revenue 2019: $3,536,392Expenses 2019: $3,561,580Net Income 2019: -$25,1882019Revenue 2020: $3,661,501Expenses 2020: $3,192,338Net Income 2020: $469,1632020Revenue 2021: $3,649,179Expenses 2021: $3,211,479Net Income 2021: $437,7002021Revenue 2022: $3,556,496Expenses 2022: $3,762,621Net Income 2022: -$206,1252022Revenue 2023: $3,842,868Expenses 2023: $3,987,643Net Income 2023: -$144,7752023Revenue 2024: $4,061,166Expenses 2024: $4,258,145Net Income 2024: -$196,9792024Revenue 2025: $4,301,925Expenses 2025: $4,364,632Net Income 2025: -$62,7072025

Highlighted filing

2023

Revenue$3,842,868
Expenses$3,987,643
Net Income-$144,775
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 9, 2024
Return Version
2022v5.0
Gross Receipts
$4,757,169
Mission and Program Overview

Mission

To lead a global marketing effort to attract world-class businesses and talent and to facilitate new, high-value business investment within the three-county Charleston region comprised of Berkeley, Charleston and Dorchester counties.

The charleston regional development alliance (crda) was incorporated on february 1, 1995 as a public and private not-for-profit economic development organization supported and led (continued on schedule o)

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,137,260$2,182,796▲ $1,045,536
Investments in Publicly Traded Securities$905,840--
Cash and Non-Interest-Bearing Accounts$531,701$229,162▼ $302,539
Land, Buildings, and Equipment, Net$258,321$217,098▼ $41,223
Prepaid Expenses and Deferred Charges$90,308$114,448▲ $24,140
Accounts Receivable$33,634$20,709▼ $12,925
Total Assets$3,012,064$3,047,981▲ $35,917
Other Assets Total$55,000$283,768▲ $228,768
Liabilities
Accounts Payable and Accrued Expenses$283,980$289,508▲ $5,528
Other Liabilities$103,278$278,442▲ $175,164
Total Liabilities$387,258$567,950▲ $180,692
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,827,139$1,735,536▼ $91,603
Net Assets With Donor Restrictions$797,667$744,495▼ $53,172
Total Net Assets Fund Balance$2,624,806$2,480,031▼ $144,775
Total Liabilities and Net Assets / Fund Balance$3,012,064$3,047,981▲ $35,917

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$217,098$362,753$579,851
Other Land Buildings-$110,367$110,367
Equipment-$106,346$106,346
Other Assets Org$55,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David GinnPresident anFT$367,720$33,962$401,682
David GinnPresident and CEO-$303,085$98,597$401,682
Michael J GraneyVP Glob BusFT$216,284$26,657$242,941
Michael J GraneyVP Glob Bus Develop-$190,285$52,656$242,941
Karen H KuchenbeckerVP OperationFT$206,328$25,751$232,079
Karen H KuchenbeckerVP Operations-$181,842$50,237$232,079
Jacquelyn RenegarDir, GlobalFT$133,341$18,663$152,004
-Dir, Global Bus-$121,990$30,014$152,004
Wade AllenDir, Bus ResFT$130,219$18,795$149,014

Board Members and Trustees

NameTitle
Todd FriddleChair Elect
Steve GallagherChairman
-Director
Alan TownsendDirector
Amie GrimesDirector
Andy Brusman - Term EndedDirector
Anita Zucker - Term EndedDirector
Barry WhalenDirector
Bob QuinnDirector
Bobby CreechDirector
Brad CanadayDirector
Brantley MoodyDirector
Brent GibadloDirector
Bryan DerreberryDirector
Bryan StefaniDirector
C Dinos LiollioDirector
Caleb ShomoDirector
Carl Kolts - Term EndedDirector
Caroline Brown - Term EndedDirector
Casey LavinDirector
Cassie CherichelloDirector
Charles Jordan JrDirector
Chip CraneDirector
Chris FraserDirector
Chris MagaldiDirector
Chris Randolph - Term EndedDirector
Christina OhDirector
Christopher IbsenDirector
Clark DavisDirector
Cody BakerDirector
Corey McclareyDirector
D Shannon StephensDirector
Dan DoyleDirector
Dan WhalenDirector
Darryl StrunkDirector
Dave EcholsDirector
David BaggsDirector
David HamiltonDirector
David HandDirector
David StenstrmDirector
Deepal EliatambyDirector
Deon Jackson - Term EndedDirector
Derek MathisDirector
Dondi Costin - Term EndedDirector
Donnie FetnerDirector
Elizabeth GibbesDirector
Erin FisherDirector
George MorrisonDirector
Graydon McnairDirector
Greg MarshallDirector
Gregory HabibDirector
Harry LesesneDirector
Heidi FinniffDirector
Herb SassDirector
J Huggins Iii - Term EndedDirector
J Walker Coleman IvDirector
James ChavezDirector
Jarid CottrellDirector
Jason Eckenstein - Term EndedDirector
Jason HessbergDirector
Jason LeeDirector
Jay ByarsDirector
Jayson NormanDirector
Jeff SpicerDirector
Jeff TrenningDirector
Jenny HoneycuttDirector
Jeremy CookDirector
Jessica PaulDirector
Jim GarrettDirector
Jim PosdaDirector
John Hagerty - Term EndedDirector
John TecklenburgDirector
Johnny CribbDirector
Jon DowneyDirector
Jonathan DawleyDirector
Jonathan SteinbergDirector
Josh SorkinDirector
Josh VanscoyDirector
Joshua S WhitleyDirector
Kent Fonvielle - Term EndedDirector
Kevin LeeDirector
Kin Hill - Term EndedDirector
Kylon J Middleton - Term EndedDirector
Laura EvansDirector
Len HutchisonDirector
Lilyn HesterDirector
Lindsay E Leonard - Term EndedDirector
Mark ClineDirector
Mark HallDirector
Mark Hood - Term EndedDirector
Markus GroegerDirector
Marshall ConnorDirector
Mary Dean HallDirector
Mary GarciaDirector
Melvin ClineDirector
Michael E BakerDirector
Michael FullerDirector
Michael SandersonDirector
Michael ScarafileDirector
Mickey RennerDirector
Mike BryanDirector
Mike CarterDirector
Nat BanksDirector
Paige CarltonDirector
Pamela WilliamsDirector
Pat KiernanDirector
Paul PatrickDirector
Peg Kendra - Term EndedDirector
Peter FennellyDirector
R Keith SummeyDirector
Reeves SkeenDirector
Reid BoehmDirector
Rick Jenkins - Term EndedDirector
Rick MixsonDirector
Ricky WaringDirector
Rita BerryDirector
Robert PrattDirector
Rudy ThomasDirector
Ryan BentonDirector
Scott FennellDirector
Scott Poelker - Term EndedDirector
Scott SharpDirector
Shane JamesDirector
Shaun MalinDirector
Stephanie YarbroughDirector
Steve WarnerDirector
Stuart Coleman - Term EndedDirector
Stuart WhitesideDirector
Tammy CoghillDirector
Teddie Pryor Sr - Term EndedDirector
Thomas AndersonDirector
Tim GrowDirector
Tim HeichelbechDirector
Tim KennedyDirector
Todd HalloranDirector
Tom Kutyla - Term EndedDirector
Tom MckennaDirector
Tony PopeDirector
Tony VincentDirector
Tushar Chikhliker - Term EndedDirector
Wil RileyDirector
Will HaynieDirector
Will HelmlyDirector
Will SaltersDirector
William Hearn - Term EndedDirector
William KirklandDirector
William Russell IiiDirector
Julie Medich - Term EndedImmed. Past
George Temple IvTreasurer/se

Highest Paid Contractors

ContractorServicesLocationCompensation
Resource Development Group INCCampaign4500 DUBLIN RD, SUITE 1403, Columbus, OH 43221$239,260
Development Counsellors InternatConsulting215 PARK AVENUE SOUTH, New York, NY 10003$146,400
Revenue and Support

Revenue Composition

Contributions and Grants
$3,771,600
Program Service Revenue
$0
Investment Income
$20,697
Other Revenue
$50,571
All Other Contributions
$2,054,027
Change in Net Assets
$-144,775

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,801,868
Revenue Not Reported on Financial Statements
$41,000
Revenue Not Reported on Form 990
$77,120
Other Revenue Adjustments
$41,000
Total Revenue per Audited Statements
$3,878,988
Total Revenue per Form 990
$3,842,868
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,222,252
Other Expenses$1,634,601
Total Fundraising Expense$244,371
Professional Fundraising Fees$130,790
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$844,939$98,101$51,510$994,550
Current Officers, Directors, Trustees, and Key Employees$721,169$95,844$30,267$847,280
Advertising$406,734--$406,734
Conferences and Meetings$400,232--$400,232
Occupancy$245,262$36,371$9,340$290,973
Payroll Taxes$115,502$14,304$6,031$135,837
Fees for Services Professional Fundraising--$130,790$130,790
Pension Plan Contributions$109,755$13,592$5,731$129,078
Other Employee Benefits$98,216$12,163$5,128$115,507
Information Technology$80,558$7,080$1,445$89,083
Office Expenses$52,439$7,777$1,997$62,213
Fees for Services Accounting-$53,686-$53,686
Fees for Services Other$6,740$43,560-$50,300
Depreciation Depletion$34,747$5,153$1,323$41,223
Insurance$19,666$2,916$749$23,331
Other Expenses$1,559$231$60$1,850
Fees for Services Legal-$893-$893
Total Functional Expenses$3,351,601$391,671$244,371$3,987,643

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,030,175
Expenses per Audited Statements$3,987,643
Total Expenses per Form 990$3,987,643
Expenses Not Reported on Form 990$42,532
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$130,790
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$278,442
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Management and the finance committee review the form 990. Upon completion, they provide a copy of the form 990 to the board of directors for approval. Upon approval, the president signs the form 990 and files the return.

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

Monitoring is done on an ongoing basis and open discussions of potential matters are discussed and addressed as needed.

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

The compensation committee of the board of directors periodically conducts evaluations of competitive compensation for its employees. The compensation committee annually reviews and approves the president's salary. The committee provides guidelines on staff compensation and links them to performance and outcomes.

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

The compensation committee of the board of directors periodically conducts evaluations of competitive compensation for its employees. The compensation committee annually reviews and approves the president's salary. The committee provides guidelines on staff compensation and links them to performance and outcomes.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available for public inspection at the company's corporate offices.

Filing and Contact Details

Filer

Filer Name
Charleston Regional Development
EIN
57-1015804
Phone
8437679300
Address
4401 BELLE OAKS DRIVE SUITE 420, NORTH CHARLESTON, SC 29405

Signing Officer

Name
David Ginn
Title
President and CEO
Phone
8437679300
Signed
2024-01-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Ginn
Formed
1995
Legal Domicile
Sc
Voting Board Members
125
Independent Board Members
125
Employees
17
Volunteers
149

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

Form 990, part i, line 1 - continued: by the region's most influential business leaders, three county governments, largest municipalities, and top academic institutions.

Form 990, Part III

Form 990, part iii, line 4a - continued: investment in south carolina's history. Combined, the new payroll generated by these seven projects will provide an estimated 926 million annual economic impact for our region. We also had a strong year in terms of generating business-focused national media coverage. Charleston's growing cluster of electric vehicle manufacturers and the region's burgeoning life sciences sector were of particular interest. We capped off the year with an article published by bloomberg that highlighted our region's growing population, strong economy and attractive lifestyle assets. Talent attraction is a key focus area for crda, and we completed two talent-related research projects in fy22-23 that will help inform our efforts in the coming years. The first was a talent perception study that revealed how skilled talent currently views our region from a career and lifestyle perspective. The second was a talent gap analysis that identified fast-growing, high-demand occupations that will require a focused talent attraction strategy to augment the local talent pipeline. In other talent- related work, crda partnered with local employers and regional stakeholders to greatly expand the chs intern network program with dozens of companies and hundreds of interns participating. The goal of this popular initiative is to encourage summer interns to stay in our region after completing their work programs, thereby expanding the region's talent pool.

Form 990, Part XI, Line 9

Contributions report on other ent 990 35,000 mangement fees from consolidated entity -41,000 expenses reported on related entity 990 -412 total -6,412

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Contributions report on other ent 990 35,000

Schedule D, Page 4, Part XI, Line 4B

Mangement fees from consolidated entity 41,000

Schedule D, Page 4, Part XII, Line 2D

Expenses reported on related entity 990 412

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.58$1.32$2.26$4.30$4.36$0.06
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.77$1.50$2.26$4.06$4.26$0.20
2023Detailed filing. Detailed filing data is available for this year.$3.05$0.57$2.48$3.84$3.99$0.14
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.01$0.39$2.62$3.56$3.76$0.21
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$0.44$2.86$3.65$3.21$0.44
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.68$0.25$2.44$3.66$3.19$0.47
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.40$0.38$2.02$3.54$3.56$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.44$0.39$2.05$3.45$3.44$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.49$0.45$2.05$3.55$3.40$0.15
2016Detailed filing. Detailed filing data is available for this year.$2.54$0.64$1.90$3.50$3.39$0.11
2015Detailed filing. Detailed filing data is available for this year.$2.41$0.45$1.96$3.44$2.61$0.84
2014Detailed filing. Detailed filing data is available for this year.$1.91$0.78$1.12$3.03$3.15$0.13
2013Summary only. Only limited summary data is available for this year.$1.47$0.22$1.25$3.26$3.15$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.22$1.14$2.73
2011Summary only. Only limited summary data is available for this year.$1.03$0.08$0.95$2.23$2.29$0.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.21$1.00$1.82