Beaufort Digital Corridor
- Assets
- $91.5k
- Revenue
- $298.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Beaufort, SC
- Founding
- 02/2018
- Data as of
- 06/2022
- EIN
- 81-4210441
Organization Overview
Beaufort Digital Corridor is located in Beaufort, SC. The organization was established in 2018. 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, Beaufort Digital Corridor employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beaufort Digital Corridor 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, Beaufort Digital Corridor generated $298.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.7% each year . All expenses for the organization totaled $300.1k during the year ending 06/2022. While expenses have increased by 17.0% per year over the past 6 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 BDC IS A BUSINESS DEVELOPMENT EFFORT BY THE CITY OF BEAUFORT TO ATTRACT, NURTURE, AND PROMOTE TECH AND TECH-RELATED COMPANIES. THE CORRIDOR TEAM, COMPRISED OF RELEVANT PARTICIPANTS IN THE PRIVATE AND PUBLIC SECTOR, IS POSITIONED TO SERVE THE BUSINESS COMMUNITY AS A PORTAL TO GOVERNMENT, INFRASTRUCTURE, REAL ESTATE, PROFESSIONAL RESOURCES, CAPITAL AND EDUCATION. THE TEAM'S OVERRIDING GOAL IS TO OFFER TANGIBLE RESOURCES TO TECH AND TECH-RELATED COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BDC OPERATES FROM BASECAMP, THE BDC'S PROFESSIONAL BUSINESS INCUBATOR/CO-WORKING OFFICE IN HISTORIC BEAUFORT. THIS LOCATION SERVES AS THE FOCAL POINT FOR THE ADVANCEMENT OF BEAUFORT'S TECH AND TECH-RELATED ECONOMY. THE OFFICE LOCATION IS AT 500 CARTERET STREET IN DOWNTOWN BEAUFORT.
BEAUFORT WORKS IS A PROGRAM TO FACILITATE THE GROWTH AND EXPANSION OF INFORMATION TECHNOLOGY JOB OPPORTUNITIES IN THE BEAUFORT AREA.
CODECAMP BEAUFORT IS A SUMMER PROGRAM FOR BEAUFORT AREA CHILDREN THAT EDUCATES THEM AS IT RELATES TO TECHNOLOGY CODING IN AN EFFORT TO PROMOTE GROWTH OF INTEREST IN TECHNOLOGY JOBS IN THE BEAUFORT AREA.
THE BEAUFORT DIGITAL CORRIDOR PROVIDES A RANGE OF BUSINESS, SOCIAL, AND EDUCATIONAL PROGRAMS AND EVENTS TO CONTINUALLY CULTIVATE OUR VIBRANT TECH COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica O'brien Exec Director | Officer | 40 | $41,250 |
Matt D'angelo Vice Chairman | OfficerTrustee | 1 | $0 |
Rich Conte Treasurer | OfficerTrustee | 1 | $0 |
Melissa Venable Board Chairman | OfficerTrustee | 1 | $0 |
Joe Floyd Board Member | Trustee | 1 | $0 |
Stephen Murray Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,845 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $130,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $104,053 |
| Noncash contributions included in lines 1a–1f | $4,979 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $239,398 |
| Total Program Service Revenue | $53,185 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,988 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $322 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $298,893 |
| 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. | $109,303 |
| Compensation of current officers, directors, key employees. | $6,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,401 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,425 |
| Advertising and promotion | $11,608 |
| Office expenses | $8,294 |
| Information technology | $45,296 |
| Royalties | $0 |
| Occupancy | $29,622 |
| Travel | $239 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,559 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,073 |
| Insurance | $545 |
| All other expenses | $0 |
| Total functional expenses | $300,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,993 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $151 |
| Net Land, buildings, and equipment | $2,389 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $91,533 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,700 |
| 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 | $0 |
| Total liabilities | $1,700 |
| Net assets without donor restrictions | $89,833 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $91,533 |
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