Columbia Empowerment Zone Inc
- Assets
- $13.2m
- Revenue
- $5.7m
- Investments
- $3.9m
- Employees
- 0
- Location
- Columbia, SC
- Founding
- 10/2008
- Data as of
- 06/2023
- EIN
- 30-0479115
Organization Overview
Columbia Empowerment Zone Inc is located in Columbia, SC. The organization was established in 2008. 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. Columbia Empowerment Zone Inc 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 06/2023, Columbia Empowerment Zone Inc generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 49.4% each year . All expenses for the organization totaled $798.8k during the year ending 06/2023. While expenses have increased by 14.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COLUMBIA EMPOWERMENT ZONE INC. (CEZ, INC) IMPLEMENTS ACTIVITIES DESIGNED TO ENHANCE THE LIVES OF RESIDENTS IN TARGETED AREAS. ACTIVITIES SUCH AS THE TRAINING OF UNEMPLOYED AND UNDEREMPLOYED INDIVIDUALS AND THE OFFERING OF LOW INTEREST LOANS AND ASSISTING WITH TAX CREDITS TO QUALIFYING BUSINESSES IS UNDERTAKEN TO ACHIEVE JOB CREATION, CAREER PATHS, BUSINESS GROWTH, AND TRAINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLUMBIA EMPOWERMENT ZONE, INC ACQUIRES AND MANAGES PROPERTY WITH THE OVERALL GOAL OF CREATING JOBS AND CREATING SUSTAINABLE BUSINESSES THROUGH PARTNERSHIPS WITH PRIVATE COMPANIES. ATTORNEY'S FEES, DEVELOPER COSTS, AND CLOSING COSTS ARE SIGNIFICANT EXPENSES THAT COLUMBIA EMPOWERMENT ZONE, INC. INCURS.
COLUMBIA EMPOWERMENT ZONE, INC ACQUIRES AND MANAGES PROPERTY WITH THE OVERALL GOAL OF CREATING JOBS AND CREATING SUSTAINABLE BUSINESSES THROUGH PARTNERSHIPS WITH PRIVATE COMPANIES. ATTORNEY'S FEES, DEVELOPER COSTS, AND CLOSING COSTS ARE SIGNIFICANT EXPENSES THAT COLUMBIA EMPOWERMENT ZONE, INC. INCURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Mccoy III Chair | OfficerTrustee | 1 | $0 |
Sharon L Coefield Co-Chair | OfficerTrustee | 1 | $0 |
Azad Khan Treasurer | OfficerTrustee | 1 | $0 |
Gretchen Lambert Secretary | OfficerTrustee | 1 | $0 |
Jameka Young Board Member | Trustee | 1 | $0 |
Mary Sparrow Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $992,770 |
| Government grants | $4,400,000 |
| 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 | $5,392,770 |
| Total Program Service Revenue | $300,155 |
| Investment income | $85,807 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$42,753 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,748,993 |
| 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 | $399,146 |
| 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 | $16,209 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,116 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,838 |
| Office expenses | $26,028 |
| Information technology | $14,004 |
| Royalties | $0 |
| Occupancy | $125,776 |
| Travel | $15,321 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,093 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,192 |
| Insurance | $19,155 |
| All other expenses | $5,917 |
| Total functional expenses | $798,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,006,780 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,420 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,780,580 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,072 |
| Net Land, buildings, and equipment | $5,171,155 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,934,214 |
| Investments—program-related | $100 |
| Intangible assets | $104 |
| Other assets | $1,209,669 |
| Total assets | $13,153,094 |
| Accounts payable and accrued expenses | $140,133 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,426,175 |
| Total liabilities | $1,566,308 |
| Net assets without donor restrictions | $6,686,786 |
| Net assets with donor restrictions | $4,900,000 |
| 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 | $13,153,094 |