Clarendon Facilities Corporation
- Assets
- $25.3m
- Revenue
- $746.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Manning, SC
- Founding
- 03/2012
- Data as of
- 12/2022
- EIN
- 27-3883624
Organization Overview
Clarendon Facilities Corporation is located in Manning, SC. The organization was established in 2012. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clarendon Facilities Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Clarendon Facilities Corporation generated $746.2k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $746.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 4 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION ESTABLISHED TO AQUIRE, CONSTRUCT, IMPROVE AND LEASE FACILITIES TO BE USED BY CLARENDON COUNTY, SC (A POLITICAL SUB-DIVISION OF THE STATE OF SOUTH CAROLINA).
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION LEASED COUNTY ADMINISTRATION COMPLEX TO CLARENDON COUNTY, SC IN AN AMMOUNT EQUAL TO THE ANNUAL DEBT SERVICE REQUIREMENTS ON ASSOCIATED DEBT/BOND ISSUANCE. THE INSTALLMENT PURCHASE AGREEMENT BETWEEN THE ORGANIZATION AND CLARENDON COUNTY REQUIRES THAT THE COUNTY PAY TO THE ORGANIZATION AN ANNUAL INSTALLMENT PAYMENT EQUAL TO THE DEBT SERVICES REQUIREMENTS ASSOCIATED WITH ISSUED DEBT. A TRANSFER OF INTEREST/OWNERSHIP EQUAL TO SAID ANNNUAL PRINCIPAL PORTION OF THE PAYMENT IN THE FACILITY IS GIVEN FROM THE ORGANIZATION TO CLARENDON COUNTY. WHEN THE BONDS ARE PAID OFF, CLARENDON COUNTY WILL HAVE 100% OWNERSHIP IN SAID FACILITY.
ORGANIZATION LEASED COUNTY COURTHOUSE FACILITY TO CLARENDON COUNTY, SC IN AN AMOUNT EQUAL TO THE ANNUAL DEBT SERVICE REQUIREMENTS ON ASSOCIATED DEBT/BOND ISSUANCE. THE INSTALMENT PURCHASE AGREEMENT BETWEEN THE ORGANIZATION AND CLARENDON COUNTY REQUIRES THAT THE COUNTY PAY TO THE ORGANIZATION AN ANNUAL INSTALLMENT PAYMENT EQUAL TO THE DEBT SERVICES REQUIREMENTS ASSOCIATED WITH ISSUED DEBT. A TRANSFER OF INTEREST/OWNERSHIP EQUAL TO SAID ANNNUAL PRINCIPAL PORTION OF THE PAYMENT IN THE FACILITY IS GIVEN FROM THE ORGANIZATION TO CLARENDON COUNTY. WHEN THE BONDS ARE PAID OFF, CLARENDON COUNTY WILL HAVE 100% OWNERSHIP IN SAID FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
August J Cutter Boardchair | OfficerTrustee | 0.1 | $0 |
Michael L King Vice-Chair/secretary/treas | OfficerTrustee | 0.1 | $0 |
Bobby Pierce Boardmember | Trustee | 0.1 | $0 |
Blake Gibbons Boardmember | Trustee | 0.1 | $0 |
Linzy Washington Boardmember | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $746,234 |
| Investment income | $0 |
| 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 | $746,234 |
| 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. | $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 | $0 |
| Fees for services: Accounting | $0 |
| 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 | $271,234 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $475,000 |
| Total functional expenses | $746,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,669,255 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $10,625,745 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,295,000 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $25,295,000 |
| 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 | $0 |
| Total liabilities | $25,295,000 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,295,000 |