Greenville Area Development Corporation
- Assets
- $4.5m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Greenville, SC
- Founding
- 09/2002
- Data as of
- 06/2021
- EIN
- 57-1125289
Organization Overview
Greenville Area Development Corporation is located in Greenville, SC. The organization was established in 2002. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Greenville Area Development Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenville Area Development Corporation 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 06/2021, Greenville Area Development Corporation generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.4m during the year ending 06/2021. While expenses have increased by 7.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING AND ENHANCING THE ECONOMIC GROWTH AND DEVELOPMENT OF GREENVILLE COUNTY, SOUTH CAROLINA. GADC WAS FORMED BY GREENVILLE COUNTY COUNCIL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF ECONOMIC DEVELOPMENT IN THE GREENVILLE AREA THROUGH SPECIFIC MARKETING INITIATIVES.
GENERAL PROGRAM COSTS-INCLUDES SALARIES AND RELATED OVERHEAD REQUIRED TO RECRUIT SPECIFIC POTENTIAL BUSINESSES TO THE GREENVILLE AREA AND TO SUPPORT EXPANSION OF EXISTING BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Farris President | Officer | 40 | $182,087 |
Kevin Landmesser Vice Preside | Officer | 40 | $131,158 |
Tom Epting Chair | OfficerTrustee | 1 | $0 |
Roy Chamlee Secretary | OfficerTrustee | 1 | $0 |
Don Erickson Vice Chair | OfficerTrustee | 1 | $0 |
Scott Case Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,390,540 |
| Investment income | $27,601 |
| 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 | $2,418,141 |
| Statement of Expenses | |
|---|---|
| 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. | $326,395 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $374,152 |
| Pension plan accruals and contributions | $108,437 |
| Other employee benefits | $92,212 |
| Payroll taxes | $48,813 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,098 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $181,206 |
| Office expenses | $29,516 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,872 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,187 |
| Insurance | $10,486 |
| All other expenses | $0 |
| Total functional expenses | $2,385,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,433 |
| Savings and temporary cash investments | $3,845,555 |
| Pledges and grants receivable | $311,600 |
| Accounts receivable, net | $0 |
| 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 | $2,709 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,479,595 |
| Accounts payable and accrued expenses | $52,345 |
| Grants payable | $300,000 |
| 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 | $20,000 |
| Total liabilities | $372,345 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $4,107,250 |
Grants Awarded
Over the last fiscal year, Greenville Area Development Corporation has awarded $895,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
METROPOLITAN SEWER SUBDISTRICT PURPOSE: WASTE WATER INFRASTR | $300,000 |
FOX HILL GREENVILLE LLC PURPOSE: LOCATE SC (SCDOC) | $300,000 |
DRIVE AUTOMOTIVE INDUSTRIESOF AMERICA INC PURPOSE: BUILDING IMPROVEMENT | $145,000 |
LOCKHEED MARTIN CORPORATION PURPOSE: PROJECT FALCON JD | $125,000 |
CYTEC ENGINEERED MATERIALSSOLVAY GROUP PURPOSE: PROJ IVY - SITE PREP | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greenville Area Development Corporation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Prisma Health - Upstate Greenville, SC PURPOSE: OPERATIONAL/COMMUNITY ENGAGEMENT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Waccamaw Community Foundation Inc Murrells Inlet, SC | $30,138,658 | $6,245,346 |
Shumard Foundation Inc Atlanta, GA | $18,870,364 | $808,294 |
Greenville Area Development Corporation Greenville, SC | $4,479,595 | $2,418,141 |
Wake Forest Innovation Quarter Management Co Winstonsalem, NC | $76,176 | $0 |
Sc Launch Inc Columbia, SC | $12,983,051 | $2,975,171 |
Poplar Springs Fire Service Area Moore, SC | $4,360,898 | $2,218,008 |
Society Of Women Engineers Endowment Fund Inc Sanford, NC | $12,880,425 | $978,863 |
Georgia Transportation Alliance Inc Atlanta, GA | $275,023 | $553,290 |
Csra Property Holding 2 Inc Augusta, GA | $0 | $95,187 |
T C Roberson Rams Club Inc Skyland, NC | $151,073 | $260,339 |
Gaston Together Communites Of Excellence Gastonia, NC | $212,084 | $226,035 |
Lead-Chs Foundation North Charleston, SC | $195,414 | $166,320 |