South Carolina Research Authority
- Assets
- $104.8m
- Revenue
- $17.5m
- Investments
- $0.0
- Employees
- 45
- Location
- columbia, SC
- Founding
- 10/1987
- Data as of
- 06/2022
- 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 06/2022, South Carolina Research Authority employed 45 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 06/2022, South Carolina Research Authority generated $17.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $15.4m during the year ending 06/2022. While expenses have increased by 1.2% 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 2015, South Carolina Research Authority has awarded 454 individual grants totaling $36,731,155. 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
2022
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, 2022 WERE RELATED TO PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Quinn Executive Director | Officer | 40 | $315,289 |
Cole Dudley Director Sc Ventures | Officer | 40 | $224,992 |
Steve Johnson Sc Launch Investment Manager | 40 | $204,902 | |
William L Macilwinen Sc Launch Investment Manager | 40 | $197,668 | |
John E Sircy Director Of Finance & Admin | Officer | 35 | $195,613 |
Sohail Malik Director Sc Acad Innovations | Officer | 40 | $194,509 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
22 Westedge Owner Llc Landlord | 6/29/22 | $775,109 |
Primary Aimline Llc Telecom Consultant | 6/29/22 | $475,425 |
Digital Vines Llc It Mgmnt Services | 6/29/22 | $247,633 |
Nelson Mullins Riley Scarborough Ll Legal Services | 6/29/22 | $163,277 |
Johnson Security Solutions Llc Sec.equip/monitoring | 6/29/22 | $232,343 |
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 | $8,270,080 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,270,080 |
| Total Program Service Revenue | $2,081,456 |
| Investment income | $666,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,769,539 |
| Net Gain/Loss on Asset Sales | $713,619 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,524,075 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,097,096 |
| 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. | $2,117,239 |
| Compensation of current officers, directors, key employees. | $384,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,507,175 |
| Pension plan accruals and contributions | $272,509 |
| Other employee benefits | $326,590 |
| Payroll taxes | $297,931 |
| Fees for services: Management | $123,062 |
| Fees for services: Legal | $62,381 |
| Fees for services: Accounting | $26,963 |
| Fees for services: Lobbying | $72,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $704,705 |
| Advertising and promotion | $68,365 |
| Office expenses | $474,677 |
| Information technology | $217,245 |
| Royalties | $0 |
| Occupancy | $3,100,851 |
| Travel | $118,951 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $47,218 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,744,343 |
| Insurance | $0 |
| All other expenses | $15,435 |
| Total functional expenses | $15,394,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,335,262 |
| Savings and temporary cash investments | $4,370,573 |
| Pledges and grants receivable | $643,500 |
| Accounts receivable, net | $4,408,798 |
| 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 | $22,654 |
| Net Land, buildings, and equipment | $33,418,696 |
| Investments—publicly traded securities | $36,135,645 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $20,456,204 |
| Other assets | $0 |
| Total assets | $104,791,332 |
| Accounts payable and accrued expenses | $1,089,441 |
| Grants payable | $0 |
| Deferred revenue | $18,295,638 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $143,453 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,677,238 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,264,826 |
| Total liabilities | $36,470,596 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $56,396,584 |
| 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 | $104,791,332 |
Grants Awarded
Over the last fiscal year, South Carolina Research Authority has awarded $2,726,562 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
CLEMSON UNIVERSITY PURPOSE: SACT | $630,564 |
UNIVERSITY OF SOUTH CAROLINA PURPOSE: SACT | $292,142 |
FRANCIS MARION UNIVERSITY PURPOSE: SACT | $89,609 |
ADOH SCIENTIFIC LLC PURPOSE: Acceleration | $50,000 |
ADVENT INNOVATIONS LIMITED COMPANY PURPOSE: Federal Matching | $50,000 |
BIRD DOG DEALS LLC PURPOSE: Acceleration | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that South Carolina Research Authority has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
South Carolina Research Authority columbia, SC PURPOSE: COURSEPOWER | $15,000 |
South Carolina Research Authority columbia, SC PURPOSE: COURSEPOWER | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Carolina Research Authority columbia, SC | $104,791,332 | $17,524,075 |
Technical Association Of The Pulp & Paper Industry Inc Peachtree Corners, GA | $27,342,893 | $7,884,355 |
Wireless Research Center Of North Carolina Wake Forest, NC | $2,680,881 | $4,143,333 |
Nc Propane Education & Research Foundation Raleigh, NC | $219,605 | $1,101,241 |
North Carolina Technology Association Inc Raleigh, NC | $1,304,382 | $1,458,106 |
Georgiafirst Robotics Inc Cumming, GA | $615,858 | $592,170 |
Association For Financial Technology Atlanta, GA | $778,884 | $667,762 |
Forest Products Society Lagrange, GA | $2,002,055 | $523,999 |
South Carolina Hydrogen And Fuelcell Alliance Summerville, SC | $123,910 | $174,880 |
Society Of American Military Engineers Raleigh, NC | $570,868 | $186,431 |
Technology Student Association Boone, NC | $100,808 | $0 |
Tread Rubber And Tire Repair Materials Manufacturers Group Ringgold, GA | $169,853 | $0 |