Clinton Economic Development Corporation
- Assets
- $6.7m
- Revenue
- $254.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Clinton, SC
- Founding
- 05/2003
- Data as of
- 06/2021
- EIN
- 14-1864437
Organization Overview
Clinton Economic Development Corporation is located in Clinton, SC. The organization was established in 2003. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clinton Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Clinton Economic Development Corporation generated $254.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.6%) each year. All expenses for the organization totaled $71.0k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOR THE CONTINUED GROWTH OF THE CITY OF CLINTON THROUGH ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR THE CONTINUED GROWTH OF THE CITY OF CLINTON THROUGH ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lumus Byrd Board Member | Trustee | 1 | $0 |
Stan Bryson Chairman | Trustee | 1 | $0 |
Jonathan Coleman Board Member | Trustee | 1 | $0 |
Chip Cooper Board Member | Trustee | 1 | $0 |
Will Ferguson Board Member | Trustee | 1 | $0 |
Jimmy Capps Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $200,000 |
| Investment income | $21,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $254,028 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,930 |
| Fees for services: Accounting | $7,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,925 |
| Insurance | $15,657 |
| All other expenses | $0 |
| Total functional expenses | $71,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $494,644 |
| Savings and temporary cash investments | $2,041,168 |
| Pledges and grants receivable | $200,000 |
| Accounts receivable, net | $217,133 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,595,683 |
| Prepaid expenses and deferred charges | $3,633 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,713,791 |
| Accounts payable and accrued expenses | $950 |
| Grants payable | $0 |
| Deferred revenue | $13,200 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $3,100,000 |
| Other liabilities | $1,117,259 |
| Total liabilities | $4,231,409 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $2,482,382 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |
Srs Community Reuse Organization Aiken, SC | $6,557,053 | $4,875,445 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Rowen Foundation Inc Lawrenceville, GA | $75,583,362 | $5,573 |
Mdc Inc Durham, NC | $4,444,816 | $5,223,210 |
Palmetto Economic Development Corp Columbia, SC | $2,291,624 | $3,424,081 |
Fayetteville Area Convention & Visitors Bureau Inc Fayetteville, NC | $1,870,197 | $2,954,828 |
Upstate South Carolina Alliance Inc Greenville, SC | $3,024,516 | $2,638,082 |
Southern Travel Directors Council Inc Travel South Usa Atlanta, GA | $2,576,734 | $2,286,917 |