Charleston Digital Corridor Foundation
- Assets
- $3.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 4
- Location
- Charleston, SC
- Founding
- 02/2005
- Data as of
- 12/2021
- EIN
- 20-0836170
Organization Overview
Charleston Digital Corridor Foundation is located in Charleston, SC. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Charleston Digital Corridor Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charleston Digital Corridor Foundation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Charleston Digital Corridor Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 9.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO ATTRACT, NURTURE, AND PROMOTE CHARLESTON'S KNOWLEDGE-BASED ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FLAGSHIP OFFERS COMPANIES AN OPPORTUNITY TO CREATE A FULL-SERVICE, PROFESSIONAL ENVIRONMENT THAT ALLOWS THE BUSINESS OWNER TO FOCUS ENTIRELY ON DEVELOPING AND GROWING THEIR RESPECTIVE ENTERPRISE WHILE WORKING OUT OF THE FLAGSHIP OFFICES. IT OFFERS RESIDENTS ENTERPRISE CLASS BUSINESS SERVICES AT RATES THAT ARE COST EFFECTIVE AND TERMS THAT ARE COMPLETELY FLEXIBLE.
CHARLESTON WIFI IS THE ORGANIZATION'S EFFORTS TO PROVIDE WIRELESS INTERNET SERVICES AS A FREE PUBLIC SERVICE IN PUBLIC PARKS THROUGHOUT CHARLESTON.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernest Andrade Executive Director | Officer | 40 | $192,500 |
Kirk King Chairman & Treasurer | OfficerTrustee | 0.5 | $0 |
Will Gregg Vice Chairman & Secretary | OfficerTrustee | 0.5 | $0 |
Graham Smith Board Member | Trustee | 0.5 | $0 |
Mitchell Davis Board Member | Trustee | 0.5 | $0 |
Michael Wright Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $74,749 |
| Fundraising events | $8,785 |
| Related organizations | $0 |
| Government grants | $616,238 |
| All other contributions, gifts, grants, and similar amounts not included above | $83,247 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $783,019 |
| Total Program Service Revenue | $1,059,014 |
| Investment income | $2,967 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,948 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,856,948 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $198,225 |
| Compensation of current officers, directors, key employees. | $79,290 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,285 |
| Pension plan accruals and contributions | $10,902 |
| Other employee benefits | $0 |
| Payroll taxes | $25,025 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,935 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $36,743 |
| Advertising and promotion | $2,646 |
| Office expenses | $14,906 |
| Information technology | $4,581 |
| Royalties | $0 |
| Occupancy | $738,974 |
| Travel | $3,451 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,262 |
| Insurance | $1,868 |
| All other expenses | $8,100 |
| Total functional expenses | $1,203,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $988,561 |
| Savings and temporary cash investments | $1,275,269 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $600 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $621,181 |
| Investments—publicly traded securities | $259,480 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,145,091 |
| Accounts payable and accrued expenses | $10,353 |
| Grants payable | $0 |
| Deferred revenue | $31,740 |
| 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 | $0 |
| Other liabilities | $92,560 |
| Total liabilities | $134,653 |
| Net assets without donor restrictions | $3,010,438 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,145,091 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Charleston Digital Corridor Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of West Georgia Inc Carrollton, GA PURPOSE: PROGRAM | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Catapult Employers Association Inc Charlotte, NC | $29,062,151 | $11,591,592 |
Material Handling Industry Charlotte, NC | $47,683,626 | $9,373,813 |
North Carolina Association Of Raleigh, NC | $3,258,461 | $11,696,532 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |
International Zinc Association Durham, NC | $9,583,285 | $9,824,037 |
Corenet Global Inc Atlanta, GA | $22,405,208 | $10,074,155 |
North American Transmission Forum Inc Charlotte, NC | $10,236,042 | $8,601,218 |
North Carolina Association Of Cpas Raleigh, NC | $10,162,234 | $7,194,699 |
Charlotte Regional Business Alliance Charlotte, NC | $7,391,454 | $7,941,534 |