Greater Lake City Alliance
- Assets
- $96.0m
- Revenue
- $20.0m
- Investments
- $0.0
- Employees
- 11
- Location
- Lake City, SC
- Founding
- 04/2016
- Data as of
- 12/2021
- EIN
- 47-5435410
Organization Overview
Greater Lake City Alliance is located in Lake City, SC. The organization was established in 2016. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Lake City Alliance employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Lake City Alliance 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 12/2021, Greater Lake City Alliance generated $20.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $4.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SUPPORT TO GOVERNMENTAL ENTITIES, SECTION 501(C)(3) ORGANIZATIONS, AND OTHER ENTITIES, AS WELL AS TO ENGAGE DIRECTLY IN COMMUNITY AND ECONOMIC DEVELOPMENT ACTIVITIES, THAT FURTHER THESE PURPOSES.
Describe the Organization's Program Activity:
PROVIDING FINANCIAL ASSISTANCE TO THE CITY FOR VARIOUS PROJECTS TOENHANCE THE CITY OF LAKE CITY. PROJECTS INCLUDE THE ROUND-ABOUTPROJECT, CONSULTING SERVICES PERTAINING TO WATER AND SEWER OF LAKECITY, AND RE-ZONING OF LAKE CITY.
IN 2018 THE ORGANIZATION TOOK OVER THE OPERATIONS OF THE INN WHICH IS THE CORNERSTONE OF DOWNTOWN DEVELOPMENT IN LAKE CITY.THE RV PARK WAS COMPLETED IN 2019, THE RV PARK WAS STARTED TO ALLOWVISITORS TO STAY AND VISIT LAKE CITY. THESE ENDEAVOURS ARE TO CONTINUETHE MISSION OF GREATER LAKE CITY ALLIANCE. GLCA ALSO OPERATES THECROSSROADS HOSPITALITY GROUP WHICH PROVIDES SERVICES AND CHG OPERATESTHE GREEN FROG SOCIAL HOUSE RESTAURANT, SNAX - ICE CREAM SHOP AND LCBISTRO (RESTAURANT AT THE INN AT THE CROSSROADS). GLCA HAS A PROPERTYMANAGEMENT COMPONENT INVOLVING RENT/LEASE OF OFFICE SPACE AND/ORAPARTMENTS.
THE ORGANIZATION ALSO COMPLETED THE BUILDING OF THE CONTINUUM (FDTC,FMU, DUAL ENROLLMENT, AND WORK FORCE DEVELOPMENT FACILITY. THECONTINUUM BECAME OPERATIONAL IN AUGUST 2019.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason E Morse Project Manager | 40 | $160,000 | |
Peter Gaskins Vice-Chairman/deceased 1/6/21 | Officer | 0.5 | $0 |
Robert Tilton Chair | Officer | 0.5 | $0 |
Harry Lesesne Executive Director | Officer | 40 | $0 |
Joetta Floyd Secretary | Officer | 0.5 | $0 |
David E Green Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
All Quality Construction Co Inc Construction | 12/30/19 | $1,650,169 |
Nettles Turbeville & Reddeck Attorney | 12/30/19 | $153,982 |
Prince Consulting Llc Consulting | 12/30/19 | $113,597 |
Mcmillian Pazdan Smith Llc Architecture | 12/30/19 | $127,537 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $257,930 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,136,305 |
| Noncash contributions included in lines 1a–1f | $15,038,320 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,394,235 |
| Total Program Service Revenue | $2,816,222 |
| Investment income | $49,695 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$298,499 |
| 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 | $19,968,830 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,894 |
| 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. | $166,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $512,801 |
| Pension plan accruals and contributions | $15,925 |
| Other employee benefits | $67,464 |
| Payroll taxes | $49,504 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,131 |
| Fees for services: Accounting | $33,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,575 |
| Advertising and promotion | $13,621 |
| Office expenses | $12,443 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $183,353 |
| Travel | $2,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $589,749 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,808 |
| Insurance | $74,062 |
| All other expenses | $174,847 |
| Total functional expenses | $4,460,326 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,786,789 |
| Savings and temporary cash investments | $15,306,508 |
| 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 | $1,608,019 |
| Inventories for sale or use | $31,153 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $77,317,507 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $96,049,976 |
| Accounts payable and accrued expenses | $0 |
| 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 | $23,601,005 |
| Total liabilities | $23,601,005 |
| 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 | $72,448,971 |
| Total liabilities and net assets/fund balances | $96,049,976 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Lake City Alliance has recieved totaling $15,498,320.
| Awarding Organization | Amount |
|---|---|
Darla Moore And Richard Rainwater Foundation Lake City, SC PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF ENHANCING THE BUSINESS ENVIRONMENT OF LAKE CITY | $15,498,320 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Waccamaw Economic Opportunity Council Inc Conway, SC | $5,439,118 | $14,126,176 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Coastal Community Action Inc Newport, NC | $6,264,251 | $13,623,681 |
Aiken Barnwell Counties Community Action Agency Inc Aiken, SC | $1,345,575 | $11,151,502 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |
United Housing Connections Greenville, SC | $13,006,355 | $10,964,417 |
Ocab Inc Community Action Agency Orangeburg, SC | $8,392,192 | $10,031,403 |
Beaufort Jasper Economic Opportunity Commission Inc Beaufort, SC | $1,934,293 | $11,255,794 |
Greene Lamp Incorporated Kinston, NC | $3,334,002 | $10,099,904 |
Community Revitalization And Reservation Corporation Raleigh, NC | $42,174,048 | $6,127,827 |