South Carolina Research Authority
- Assets
- $101.5m
- Revenue
- $16.2m
- Investments
- $0.0
- Employees
- 39
- Location
- Columbia, SC
- Founding
- 10/1987
- Data as of
- 06/2023
- EIN
- 57-0736144
Organization Overview
South Carolina Research Authority is located in Columbia, SC. The organization was established in 1987. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 06/2023, South Carolina Research Authority employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Carolina Research Authority 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, South Carolina Research Authority generated $16.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $16.0m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, South Carolina Research Authority has awarded 429 individual grants totaling $32,927,339. 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
SEE DESCRIPTION ON SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ATTRACT HIGH TECHNOLOGY INDUSTRY BY DEVELOPING RESEARCH FACILITIES IN SOUTH CAROLINA. PROVIDE SUPPORT IN THE FORM OF GRANTS AND EXPERTISE TO RESEARCHERS AND ENTREPRENEURS IN TECHNOLOGY-BASED VENTURES TO FOSTER JOB CREATION AND ECONOMIC GROWTH IN THE STATE OF SC. APPROXIMATELY 83% OF SCRA EXPENSES FOR THE YEAR ENDED JUNE 30, 2023 WERE RELATED TO PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Quinn Executive Director | Officer | 40 | $326,141 |
Cole Dudley Director Sc Industry Solutions | 40 | $214,080 | |
John Sircy Director Of Finance & Admin | Officer | 35 | $191,757 |
Matthew Bell Director Sc Launch | Officer | 20 | $196,411 |
William L Macilwinen Senior Investment Manager | 40 | $186,856 | |
Russell Cook Dir. Sc Academic Innovations | Officer | 40 | $181,951 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
22 West Edge Owner Llc Landlord | 6/29/23 | $871,467 |
Lanier Parking Solutions Parking | 6/29/23 | $275,275 |
J Musselman Construction Inc Construction | 6/29/23 | $182,354 |
Total Comfort Solutions Inc Hvac | 6/29/23 | $224,592 |
Johnson Controls Security Solution Sec.equip/monitoring | 6/29/23 | $202,676 |
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 | $8,610,137 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,610,137 |
| Total Program Service Revenue | $1,177,472 |
| Investment income | $952,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,456,932 |
| 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 | $16,234,461 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,632,961 |
| 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. | $2,268,158 |
| Compensation of current officers, directors, key employees. | $406,080 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,324,959 |
| Pension plan accruals and contributions | $232,729 |
| Other employee benefits | $480,656 |
| Payroll taxes | $307,619 |
| Fees for services: Management | $244,783 |
| Fees for services: Legal | $54,595 |
| Fees for services: Accounting | $48,574 |
| Fees for services: Lobbying | $72,208 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,449 |
| Advertising and promotion | $252,228 |
| Office expenses | $189,097 |
| Information technology | $247,459 |
| Royalties | $0 |
| Occupancy | $2,381,309 |
| Travel | $343,288 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $153,757 |
| Interest | $2,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,663,308 |
| Insurance | $78,824 |
| All other expenses | $4,300 |
| Total functional expenses | $15,986,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $338,439 |
| Savings and temporary cash investments | $4,935,629 |
| Pledges and grants receivable | $1,162,637 |
| Accounts receivable, net | $4,420,161 |
| 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 | $38,918 |
| Net Land, buildings, and equipment | $32,226,039 |
| Investments—publicly traded securities | $39,303,439 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $18,743,204 |
| Other assets | $290,973 |
| Total assets | $101,459,439 |
| Accounts payable and accrued expenses | $446,732 |
| Grants payable | $0 |
| Deferred revenue | $17,447,847 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $129,844 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,877,218 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,474,523 |
| Total liabilities | $34,376,164 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $55,159,123 |
| Paid-in or capital surplus, or land, building, or equipment fund | $11,924,152 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $101,459,439 |
Grants Awarded
Over the last fiscal year, South Carolina Research Authority has awarded $3,461,583 in support to 47 organizations.
| Grant Recipient | Amount |
|---|---|
3KEY DIGITAL MARKETING LLC PURPOSE: Acceleration | $50,000 |
ALGISTOR INC PURPOSE: Demonstration | $50,000 |
APEX ORTHOPAEDIC TECHNOLOGIES LLC PURPOSE: Academic Startup | $25,000 |
BALEEN SOLUTIONS LLC PURPOSE: Acceleration | $50,000 |
BENEDICT COLLEGE PURPOSE: Federal Matching | $50,000 |
BOB JONES UNIVERSITY INC PURPOSE: Academic Matching | $15,000 |