Myrtle Beach Regional Economic Development Corp

Organization Overview

Myrtle Beach Regional Economic Development Corp is located in Conway, SC. The organization was established in 1995. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Myrtle Beach Regional Economic Development Corp employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Myrtle Beach Regional Economic Development Corp 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 06/2022, Myrtle Beach Regional Economic Development Corp generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 3.9% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTE, IMPLEMENT AND SUPPORT ACTIVITIES DESIGNED TO PROMOTE ECONOMIC DEVELOPMENT, DIVERSIFY THE ECONOMY & MAINTAIN A QUALITY BUSINESS CLIMATE

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROMOTED THE ECONOMIC DEVELOPMENT OF HORRY COUNTY,THE DIVERSIFICATION OF THE LOCAL ECONOMY AND MAINTAINING A QUALITY BUSINESS CLIMATE.


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Board, Officers & Key Employees

Name (title)Compensation
O'neil Mccoy
Vice Chairman
$0
Mike Hagg
Chairman
$0
Gregg Smith
Treasurer
$0
Marilyn Fore
Secretary
$0
Johnny Gardner
Director
$0
Gary Loftus
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$340,746
Fundraising events$0
Related organizations$0
Government grants $781,122
All other contributions, gifts, grants, and similar amounts not included above$30,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,151,868
Total Program Service Revenue$0
Investment income $151
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 $1,152,019

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Myrtle Beach Regional Economic Development Corp has recieved totaling $41,000.

Awarding OrganizationAmount
North Eastern Stragetic Alliance Inc

Florence, SC

PURPOSE: COUNTY ECONOMIC DEVELOPMENT

$40,000
Michael Jones Foundation

Tabor City, NC

PURPOSE: TO FUND EVERYDAY ACITIVITIES PROMOTING JOB GROWTH AND DEVELOPMENT FOR HORRY COUNTY.

$1,000
View Grant Recipient Profile

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