Charleston Regional Development Alliance
- Assets
- $3.0m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 13
- Location
- North Charleston, SC
- Founding
- 02/1996
- Data as of
- 06/2022
- EIN
- 57-1015804
Organization Overview
Charleston Regional Development Alliance is located in North Charleston, SC. The organization was established in 1996. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Charleston Regional Development Alliance employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charleston Regional Development Alliance 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, Charleston Regional Development Alliance generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $3.8m during the year ending 06/2022. While expenses have increased by 1.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CHARLESTON REGIONAL DEVELOPMENT ALLIANCE (CRDA) WAS INCORPORATED ON FEBRUARY 1, 1995 AS A PUBLIC AND PRIVATE NOT-FOR-PROFIT ECONOMIC DEVELOPMENT ORGANIZATION SUPPORTED AND LED (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
CRDA SERVES AS A CATALYST FOR LONG-TERM REGIONAL PROSPERITY BY ATTRACTING THE WORLD'S BEST COMPANIES, TALENT AND ENTREPRENEURS. IN FY21-22, DESPITE ONGOING PANDEMIC-RELATED TRAVEL RESTRICTIONS, THE POWER OF TECHNOLOGY ALLOWED US TO CONTINUE CONNECTING WITH BUSINESSES ALL OVER THE GLOBE. THROUGH THE YEAR, WE CONDUCTED 244 COMPANY MEETINGS AND FACILITATED NEARLY 185 MILLION IN NEW BUSINESS INVESTMENT. THE ASSOCIATED NEW PAYROLL WILL PROVIDE AN ESTIMATED 380 MILLION ANNUAL ECONOMIC IMPACT FOR OUR REGION. CRDA INTENSIFIED OUR TALENT-FOCUSED EFFORTS, PARTNERING WITH LOCAL EMPLOYERS AND REGIONAL STAKEHOLDERS TO ATTRACT TALENT WITH HIGH-DEMAND SKILLS, INCLUDING LOCAL COLLEGE AND UNIVERSITY GRADUATES AS WELL AS THOSE TRANSITIONING FROM LOCAL MILITARY INSTALLATIONS. (CONTINUED ON SCHEDULE O)
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Ginn President An | Officer | 40 | $342,660 |
Michael J Graney VP Glob Bus | Officer | 40 | $205,368 |
Karen H Kuchenbecker VP Operation | Officer | 40 | $189,940 |
Name Not Listed Director | Trustee | 0.25 | $0 |
Christopher Jonas Dir, Stakeho | 40 | $112,135 | |
Jacquelyn Renegar Dir, Bus Res | 40 | $112,135 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Resource Development Group Inc Campaign | 6/29/22 | $136,472 |
Blue Ion Llc Marketing | 6/29/22 | $112,339 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,760,450 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,713,115 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,473,565 |
| Total Program Service Revenue | $37,505 |
| Investment income | $233 |
| 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 | $3,556,496 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $888,609 |
| Compensation of current officers, directors, key employees. | $118,341 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $806,813 |
| Pension plan accruals and contributions | $115,260 |
| Other employee benefits | $114,733 |
| Payroll taxes | $107,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,997 |
| Fees for services: Accounting | $50,084 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $136,472 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $59,496 |
| Advertising and promotion | $506,112 |
| Office expenses | $57,986 |
| Information technology | $84,528 |
| Royalties | $0 |
| Occupancy | $275,621 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $333,317 |
| Interest | $2,376 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,801 |
| Insurance | $21,376 |
| All other expenses | $0 |
| Total functional expenses | $3,762,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $531,701 |
| Savings and temporary cash investments | $1,137,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,634 |
| 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 | $90,308 |
| Net Land, buildings, and equipment | $258,321 |
| Investments—publicly traded securities | $905,840 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,000 |
| Total assets | $3,012,064 |
| Accounts payable and accrued expenses | $283,980 |
| Grants payable | $0 |
| 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 | $0 |
| Other liabilities | $103,278 |
| Total liabilities | $387,258 |
| Net assets without donor restrictions | $1,827,139 |
| Net assets with donor restrictions | $797,667 |
| 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 | $3,012,064 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Charleston Regional Development Alliance has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
First Citizens Foundation Raleigh, NC PURPOSE: GENERAL | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Catapult Employers Association Inc Charlotte, NC | $29,062,151 | $11,591,592 |
Material Handling Industry Charlotte, NC | $47,683,626 | $9,373,813 |
North Carolina Association Of Raleigh, NC | $3,258,461 | $11,696,532 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |
International Zinc Association Durham, NC | $9,583,285 | $9,824,037 |
Corenet Global Inc Atlanta, GA | $22,405,208 | $10,074,155 |
North American Transmission Forum Inc Charlotte, NC | $10,236,042 | $8,601,218 |
North Carolina Association Of Cpas Raleigh, NC | $10,162,234 | $7,194,699 |
Charlotte Regional Business Alliance Charlotte, NC | $7,391,454 | $7,941,534 |