Civic Intelligence

Charleston Development Board Foundation

990 • Fiscal year 2022 • EIN 57-6028563

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileN/A
256 Meeting StreetCharleston, SC 29401

(843) 724-1504

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

73rd percentile

15%

Higher net margin than 73% 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

13th percentile

-17%

Faster asset growth than 13% of similar nonprofits.

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

Revenue Growth

2nd percentile

-51%

Faster revenue growth than 2% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Down

$641,467

Down $133,239 (-17%) from 2021

Net Assets

Down

$641,467

Down $133,239 (-17%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin73rd percentile

Revenue

Down

$50,400

Down $51,867 (-51%) from 2021

Expenses

Up

$42,905

Up $20,885 (+95%) from 2021

Net Income

Down

$7,495

Down $72,752 (-91%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$1.0M$500K$0Assets 2011: $429,187Liabilities 2011: $0Net Assets 2011: $429,1872011Assets 2012: $462,209Net Assets 2012: $462,2092012Assets 2013: $536,284Liabilities 2013: $0Net Assets 2013: $536,2842013Assets 2014: $559,117Liabilities 2014: $0Net Assets 2014: $559,1172014Assets 2015: $528,661Liabilities 2015: $0Net Assets 2015: $528,6612015Assets 2016: $562,686Liabilities 2016: $0Net Assets 2016: $562,6862016Assets 2017: $615,532Liabilities 2017: $0Net Assets 2017: $615,5322017Assets 2018: $582,789Liabilities 2018: $0Net Assets 2018: $582,7892018Assets 2019: $667,677Liabilities 2019: $0Net Assets 2019: $667,6772019Assets 2020: $813,568Liabilities 2020: $0Net Assets 2020: $813,5682020Assets 2021: $774,706Liabilities 2021: $0Net Assets 2021: $774,7062021Assets 2022: $641,467Liabilities 2022: $0Net Assets 2022: $641,4672022Assets 2023: $724,140Liabilities 2023: $0Net Assets 2023: $724,1402023Assets 2024: $837,603Liabilities 2024: $0Net Assets 2024: $837,6032024

Highlighted filing

2022

Assets$641,467
Liabilities$0
Net Assets$641,467
Open 2022 Filing

Operations Trend

Revenue Growth2nd percentile

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

$150K$100K$50K$0-$50KExpenses 2011: $25,0082011Revenue 2012: $13,306Expenses 2012: $2,100Net Income 2012: $11,2062012Revenue 2013: $14,221Expenses 2013: $12,225Net Income 2013: $1,9962013Revenue 2014: $25,213Expenses 2014: $22,000Net Income 2014: $3,2132014Revenue 2015: $25,478Expenses 2015: $21,945Net Income 2015: $3,5332015Revenue 2016: $18,778Expenses 2016: $21,950Net Income 2016: -$3,1722016Revenue 2017: $36,036Expenses 2017: $22,080Net Income 2017: $13,9562017Revenue 2018: $42,380Expenses 2018: $1,080Net Income 2018: $41,3002018Revenue 2019: $34,415Expenses 2019: $21,345Net Income 2019: $13,0702019Revenue 2020: $27,178Expenses 2020: $22,025Net Income 2020: $5,1532020Revenue 2021: $102,267Expenses 2021: $22,020Net Income 2021: $80,2472021Revenue 2022: $50,400Expenses 2022: $42,905Net Income 2022: $7,4952022Revenue 2023: $47,989Expenses 2023: $1Net Income 2023: $47,9882023Revenue 2024: $93,366Expenses 2024: $2,034Net Income 2024: $91,3322024

Highlighted filing

2022

Revenue$50,400
Expenses$42,905
Net Income$7,495
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$83,782
Mission and Program Overview

Mission

The charleston development board foundation is operated exclusively for the purpose of increasing manufacturing, payrolls and investments in the charleston, berkeley and dorchester counties, and for the purpose of promoting the industrial, agricultural, port, and economic development of these counties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$774,812$641,452▼ $133,360
Savings and Temporary Cash Investments$-105$15▲ $120
Cash and Non-Interest-Bearing Accounts$-1--
Total Assets$774,706$641,467▼ $133,239
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$774,706$641,467▼ $133,239
Total Net Assets Fund Balance$774,706$641,467▼ $133,239
Total Liabilities and Net Assets / Fund Balance$774,706$641,467▼ $133,239
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Hugh C Lane JrChairman
John F Hassell IiiVice Chairma
James M StellingTrustee
Leonard FulghumTrustee
P Keith WaringTrustee
Renee AndersonTrustee
Yw Scarborough IiiTrustee
Frederick J WhittleSec and Trea
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$50,400
Other Revenue
$0
Change in Net Assets
$7,495
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$42,000
Other Expenses$905
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$42,000
Fees for Services Accounting---$1,025
Fees for Services Other---$-120
Total Functional Expenses$0$0$0$42,905
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Trident Technical CollegeNo Charleston, SC--$40,000
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
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
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 11B

“990 to be reviewed by hugh lane, jr. (chairman)”

Form 990, Page 6, Part VI, Line 19

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Charleston Development Board
EIN
57-6028563
Phone
8437241504
Address
256 MEETING STREET, CHARLESTON, SC 29401

Signing Officer

Name
Hugh C Lane Jr
Title
Chairman
Phone
8437241504
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hugh C Lane Jr
Legal Domicile
Sc
Voting Board Members
8
Independent Board Members
0
Employees
0

Preparer

Firm
Mcguire & Co LLC
Address
1100 QUEENSBOROUGH BLVD STE 201, MT PLEASANT, SC 29464
Preparer
Andrea S Hershberger
Phone
8435775533
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The charleston development board foundation is operated exclusively for the purpose of increasing manufacturing, payrolls and investments in the charleston, berkeley and dorchester counties, and for the purpose of promoting the industrial, agricultural, port, and economic development of these counties.”

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

“The charleston development board foundation is operated exclusively for the purpose of increasing manufacturing, payrolls and investments in the charleston, berkeley and dorchester counties, and for the purpose of promoting the industrial, agricultural, port, and economic development of these counties.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CHARLESTON DEVELOPMENT BOARD FOUNDATION IS OPERATED EXCLUSIVELY FOR THE PURPOSE OF INCREASING MANUFACTURING, PAYROLLS AND INVESTMENTS IN THE CHARLESTON, BERKELEY AND DORCHESTER COUNTIES, AND FOR THE PURPOSE OF PROMOTING THE INDUSTRIAL, AGRICULTURAL, PORT, AND ECONOMIC DEVELOPMENT OF THESE COUNTIES.
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ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0HUGH C
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LANE JR
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

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

Open filing
Assets
$641,467
Liabilities
$0
Net assets
$641,467
Revenue
$50,400
Expenses
$42,905
Net income
$7,495
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.38$0.00$8.38$0.93$0.02$0.91
2023Detailed filing. Detailed filing data is available for this year.$7.24$0.00$7.24$0.48$0.00$0.48
2022Detailed filing. Detailed filing data is available for this year.$6.41$0.00$6.41$0.50$0.43$0.07
2021Detailed filing. Detailed filing data is available for this year.$7.75$0.00$7.75$1.02$0.22$0.80
2020Detailed filing. Detailed filing data is available for this year.$8.14$0.00$8.14$0.27$0.22$0.05
2019Detailed filing. Detailed filing data is available for this year.$6.68$0.00$6.68$0.34$0.21$0.13
2018Detailed filing. Detailed filing data is available for this year.$5.83$0.00$5.83$0.42$0.01$0.41
2017Detailed filing. Detailed filing data is available for this year.$6.16$0.00$6.16$0.36$0.22$0.14
2016Detailed filing. Detailed filing data is available for this year.$5.63$0.00$5.63$0.19$0.22$0.03
2015Detailed filing. Detailed filing data is available for this year.$5.29$0.00$5.29$0.25$0.22$0.04
2014Detailed filing. Detailed filing data is available for this year.$5.59$0.00$5.59$0.25$0.22$0.03
2013Detailed filing. Detailed filing data is available for this year.$5.36$0.00$5.36$0.14$0.12$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.62$4.62$0.13$0.02$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.29$0.00$4.29$0.25