Waccamaw Community Foundation Inc
- Assets
- $30.1m
- Revenue
- $6.2m
- Investments
- $7.7m
- Employees
- 0
- Location
- Murrells Inlet, SC
- Founding
- 02/2015
- Data as of
- 12/2021
- EIN
- 56-2121992
Organization Overview
Waccamaw Community Foundation Inc is located in Murrells Inlet, SC. The organization was established in 2015. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, 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. Waccamaw Community Foundation 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 12/2021, Waccamaw Community Foundation Inc generated $6.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 6.6% 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.
Since 2014, Waccamaw Community Foundation Inc has awarded 420 individual grants totaling $22,508,985. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WACCAMAW COMMUNITY FOUNDATION BUILDS SUSTAINABLE PHILANTHROPY BY CONNECTING DONORS WITH CAUSES THEY CARE ABOUT TO STRENGTHEN OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTMAKING - OUR GRANTMAKING SPANS THE COMMUNITY'S BROADEST AREAS, FROM ARTS AND CULTURE TO COMMUNITY DEVELOPMENT, AND PROVIDES CRITICAL OPERATIONAL AND PROGRAMMATIC SUPPORT FOR THE NETWORK OF NONPROFIT ACTIVITIES IN OUR 2-COUNTY SERVICE AREA AND BEYOND.IN 2021, THE WACCAMAW COMMUNITY FOUNDATION DISPERSED 345 GRANTS AND SCHOLARSHIPS TOTALING $3,815,254. THESE GRANTS WERE DISTRIBUTED AS FOLLOWS: 82 GRANTS TOTALING $514,192 SUPPORTING VARIOUS EDUCATIONAL PURSUITS, 36 GRANTS TOTALING $235,500 SUPPORTING NEIGHBORHOOD & COMMUNITY DEVELOPMENT, 61 GRANTS TOTALING $217,204 SUPPORTING HUMAN NEEDS, 19 GRANTS TOTALING $47,746 SUPPORTING ENVIRONMENTAL EFFORTS, 39 GRANTS TOTALING $147,840 SUPPORTING HEALTH INITIATIVES, AND 83 GRANTS TOTALING $445,973 IN SUPPORT OF RELIGIOUS ORGANIZATIONS, 18 GRANTS TOTALING $154,453 IN SUPPORT OF THE ARTS, 6 GRANTS TOTALING $2,047,346 FOR OTHER PHILANTHROPIC EFFORTS AND 1 GRANT FOR $5,000 FOR SOCIAL JUSTICE EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent D Groome Chairman | OfficerTrustee | 1 | $0 |
Jane Litz CFO | Officer | 1 | $0 |
Michael Mancuso Executive Director (start July 2021) | Officer | 40 | $0 |
Tracy Bailey Director | Trustee | 1 | $0 |
Tyler Easterling Director | Trustee | 1 | $0 |
Chris Hanna Director | Trustee | 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 | $3,913,209 |
| Noncash contributions included in lines 1a–1f | $1,280,744 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,913,209 |
| Total Program Service Revenue | $397,022 |
| Investment income | $641,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,293,244 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,245,346 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,815,254 |
| 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 | $133,659 |
| Pension plan accruals and contributions | $4,561 |
| Other employee benefits | $32,011 |
| Payroll taxes | $9,751 |
| 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 | $14,131 |
| Fees for services: Other | $65,746 |
| Advertising and promotion | $132 |
| Office expenses | $4,024 |
| Information technology | $1,526 |
| Royalties | $0 |
| Occupancy | $28,644 |
| Travel | $652 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,434 |
| Interest | $0 |
| Payments to affiliates | $101,644 |
| Depreciation, depletion, and amortization | $12,077 |
| Insurance | $2,530 |
| All other expenses | $1,373 |
| Total functional expenses | $4,645,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,034,143 |
| Savings and temporary cash investments | $2,356,344 |
| Pledges and grants receivable | $53,831 |
| 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 | $1,318 |
| Net Land, buildings, and equipment | $447,348 |
| Investments—publicly traded securities | $18,514,670 |
| Investments—other securities | $7,727,004 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,000 |
| Total assets | $30,138,658 |
| Accounts payable and accrued expenses | $61,207 |
| Grants payable | $49,250 |
| 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 | $7,112 |
| Other liabilities | $46,061 |
| Total liabilities | $163,630 |
| Net assets without donor restrictions | $29,908,122 |
| Net assets with donor restrictions | $66,906 |
| 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 | $30,138,658 |
Grants Awarded
Over the last fiscal year, Waccamaw Community Foundation Inc has awarded $3,533,048 in support to 65 organizations.
| Grant Recipient | Amount |
|---|---|
Spartanburg, SC PURPOSE: GRANTS TO SUPPORT ORGANIZATION FUNDS | $2,040,316 |
CITY OF MYRTLE BEACH PURPOSE: NEIGHBORHOOD & COMMUNITY DEVELOPMENT GRANT | $128,000 |
FIRST UNITED METHODIST CHURCH OF MYRTLE BEACH PURPOSE: GENERAL RELIGIOUS GRANT | $123,068 |
Pawleys Island, SC PURPOSE: SUPPORT OF THE HUNTINGTON SOCIETY, NEXT GENERATION, ANNUAL GIVING, AND GENERAL OPERATIONS. | $105,000 |
UNIVERSITY OF SOUTH CAROLINA PURPOSE: SCHOLARSHIP SUPPORT | $100,875 |
Pawleys Island, SC PURPOSE: GENERAL EDUCATION GRANT | $88,396 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Waccamaw Community Foundation Inc has recieved totaling $39,059.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
J M Smith Foundation Spartanburg, SC PURPOSE: UNRESTRICTED CHARITABLE CONTRIBUTION | $14,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $59 |
Endowment Analysis
| Beg. Balance | $21,899,385 |
| Earnings | $4,177,527 |
| Admin Expense | $193 |
| Net Contributions | $1,910,660 |
| Other Expense | $320,817 |
| Grants | $2,759,685 |
| Ending Balance | $24,906,877 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Waccamaw Community Foundation Inc Murrells Inlet, SC | $30,138,658 | $6,245,346 |
Shumard Foundation Inc Atlanta, GA | $18,870,364 | $808,294 |
Greenville Area Development Corporation Greenville, SC | $4,479,595 | $2,418,141 |
Wake Forest Innovation Quarter Management Co Winstonsalem, NC | $76,176 | $0 |
Sc Launch Inc Columbia, SC | $12,983,051 | $2,975,171 |
Poplar Springs Fire Service Area Moore, SC | $4,360,898 | $2,218,008 |
Society Of Women Engineers Endowment Fund Inc Sanford, NC | $12,880,425 | $978,863 |
Georgia Transportation Alliance Inc Atlanta, GA | $275,023 | $553,290 |
Csra Property Holding 2 Inc Augusta, GA | $0 | $95,187 |
T C Roberson Rams Club Inc Skyland, NC | $151,073 | $260,339 |
Gaston Together Communites Of Excellence Gastonia, NC | $212,084 | $226,035 |
Lead-Chs Foundation North Charleston, SC | $195,414 | $166,320 |