South Carolina Association For Community Economic Development
- Assets
- $2.7m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Charleston, SC
- Founding
- 02/1998
- Data as of
- 12/2023
- EIN
- 56-2049813
Organization Overview
South Carolina Association For Community Economic Development is located in Charleston, SC. The organization was established in 1998. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, South Carolina Association For Community Economic Development employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Carolina Association For Community Economic Development 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 12/2023, South Carolina Association For Community Economic Development generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $3.4m during the year ending 12/2023. While expenses have increased by 18.7% 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.
Since 2016, South Carolina Association For Community Economic Development has awarded 123 individual grants totaling $4,335,297. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH OUR NETWORK OF MEMBERS AND PARTNER ORGANIZATIONS, SCACED STRIVES TO IMPROVE THE QUALITY OF LIFE FOR LOW-WEALTH FAMILIES AND COMMUNITIES BY ADVANCING COMMUNITY ECONOMIC DEVELOPMENT AND (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATTRACTING AND DEPLOYING RESOURCES: WE BRING NEW AND ADDITIONAL RESOURCES, OFTEN FINANCIAL, TO THE STATE AND TO THE COMMUNITY ECONOMIC DEVELOPMENT FIELD. PROGRAMS: 75,000 IN COMMUNITY IMPACT FUND GRANTS WERE DEPLOYED, 135,000 IN COMMUNITY GARDEN AND HOOP HOUSE GRANTS WERE FUNDED AND 27,000,000 MILLION IN LOANS TO MINORITY WOMEN AND VETERAN OWNED BUSINESSES WERE APPROVED THROUGH THE SBA COMMUNITY NAVIGATOR PROGRAM. (CONTINUED ON SCHEDULE O)
GROWING NETWORKS AND ELEVATING INNOVATION: WE BRING PEOPLE TOGETHER TO BUILD POWER AND SHARE INFORMATION AND RESOURCES. PROGRAMS: ADVOCACY FOR THE CED FUND AND THE CD TAX CREDIT PROGRAMS (RESULTING IN 389 JOBS BEING CREATED OR RETAINED, 81 UNITS OF AFFORDABLE HOUSING DEVELOPED, 1.9 MILLION IN LOANS TO SMALL BUSINESSES AND 81 BUSINESSES CREATED OR EXPANDED), LANDOWNER RESOURCE WORKSHOPS (9 TRAININGS HELD RESULTING IN 20 ENVIRONMENTAL QUALITY INCENTIVES PROGRAM (EQIP) APPLICATIONS, 80 FARMERS AND LANDOWNERS ATTENDED, AND 32 FARMERS OBTAIN A FARM TRACT NUMBER), SC ELECTRIC COOPERATIVE EMPOWERMENT PROGRAM (78 ELECTRIC COOPERATIVE MEMBERS ATTENDED TRAININGS AND 30 MEMBERS APPLIED TO RUN FOR ELECTION ON THE ELECTRIC COOPERATIVE BOARDS). (CONTINUED ON SCHEDULE O)
DEVELOPING ORGANIZATIONS: WE BUILD THE CAPACITY OF NONPROFITS, LOCAL BRANCHES OF GOVERNMENT, AND OTHER ORGANIZATIONS THROUGH TECHNICAL ASSISTANCE, TRAINING, ACCESS TO CAPITAL, AND RELATIONSHIP CONNECTIONS. PROGRAMS: COMMUNITY DEVELOPMENT INSTITUTE (150 ATTENDED 7 TRAININGS), MORE THAN 300 ATTENDED OPPORTUNITY SC 2023 IN MYRTLE BEACH, SC AND 68 COMMUNITY MEMBERS WERE TRAINED AS BROADBAND COMMUNITY CHAMPIONS RESULTING IN 153,000,000 IN BROADBAND PROJECTS APPROVED IN RURAL COUNTIES. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernett Mazyck President & | Officer | 40 | $159,836 |
Kate Pratt COO | 40 | $139,266 | |
Kristi King-Brock Chairperson | OfficerTrustee | 1 | $0 |
Wilbur Cave Vice Chairpe | OfficerTrustee | 1 | $0 |
Kim M Graham Secretary | OfficerTrustee | 1 | $0 |
Ginny Stroud Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $49,575 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,864,594 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,848,075 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,762,244 |
| Total Program Service Revenue | $323,917 |
| Investment income | $1 |
| 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 | $4,086,282 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,690,853 |
| Grants and other assistance to domestic individuals. | $40,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $160,000 |
| Compensation of current officers, directors, key employees. | $17,696 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $616,663 |
| Pension plan accruals and contributions | $23,952 |
| Other employee benefits | $75,051 |
| Payroll taxes | $56,658 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,500 |
| Fees for services: Accounting | $45,170 |
| Fees for services: Lobbying | $10,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $153,672 |
| Advertising and promotion | $27,463 |
| Office expenses | $79,777 |
| Information technology | $31,129 |
| Royalties | $0 |
| Occupancy | $71,612 |
| Travel | $141,042 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $159,557 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $784 |
| Insurance | $12,412 |
| All other expenses | $19,311 |
| Total functional expenses | $3,418,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,530,286 |
| Savings and temporary cash investments | $200,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $559,499 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $250,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,695 |
| Net Land, buildings, and equipment | $29,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $161,231 |
| Total assets | $2,744,576 |
| Accounts payable and accrued expenses | $523,595 |
| 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 | $250,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $161,231 |
| Total liabilities | $934,826 |
| Net assets without donor restrictions | $877,758 |
| Net assets with donor restrictions | $931,992 |
| 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 | $2,744,576 |
Grants Awarded
Over the last fiscal year, South Carolina Association For Community Economic Development has awarded $1,683,459 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
THE OPPORTUNITY CENTER PURPOSE: GENERAL SUPPORT | $20,025 |
SC COMMUNITY CAPITAL ALLIANCE PURPOSE: COMMUNITY IMPACT | $336,000 |
CLIMB FUND PURPOSE: BUSINESS SUPPORT | $257,376 |
SOUTH CAROLINA HISPANIC CHAMBER OF PURPOSE: BUSINESS SUPPORT | $164,835 |
INCREASING HOPE PURPOSE: BUSINESS SUPPORT | $141,154 |
UNIVERSITY OF SOUTH CAROLINA PURPOSE: BUSINESS SUPPORT | $128,761 |