Independent Banks Of South Carolina

Organization Overview

Independent Banks Of South Carolina is located in Chapin, SC. The organization was established in 1987. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Banks Of South Carolina is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2022, Independent Banks Of South Carolina generated $534.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $518.2k during the year ending 12/2022. While expenses have increased by 14.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE AND PROMOTE AN ENVIRONMENT WHERE COMMUNITY BANKS IN SOUTH CAROLINA FLOURISH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEMINARS & MEETINGS WERE HOSTED TO PROVIDE INFORMATION ON SUBJECT MATTER OF INTEREST TO MEMBERS AND PROVIDES OPPORTUNITIES TO DISCUSS AND SHARE IDEAS.


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Board, Officers & Key Employees

Name (title)Compensation
Eugene Varn
Director
$0
Brooks Melton
Director
$0
James M Ivey Jr
Director
$0
L Ford Sanders II
Director
$0
Stacey Mcinnis
Director
$0
Michael Cromer
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$125,888
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$125,888
Total Program Service Revenue$340,232
Investment income $235
Tax Exempt Bond Proceeds $0
Royalties $68,360
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 $534,715

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