South Magnolia Event Group
- Assets
- $1.7m
- Revenue
- $679.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Summerville, SC
- Founding
- Data as of
- 12/2022
- EIN
- 85-2578020
Organization Overview
South Magnolia Event Group is located in Summerville, SC. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Magnolia Event Group 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 12/2022, South Magnolia Event Group generated $679.9k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $38.8k during the year ending 12/2022. 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 MISSION OF SOUTH MAGNOLIA EVENT GROUP IS TO RAISE MONEY, REBUILD, AND PRESERVE THE SUMMERVILLE HIGH SCHOOL STADIUM AND ITS SURROUNDING AREA TO BENEFIT THE LOCAL COMMUNITY. SOUTH MAGNOLIA EVENT GROUP WILL CONTINUE TO SUPPORT AND GROW THE FACILITY AFTER CONSTRUCTION FOR THE USE AND BENEFIT OF THE TOWN OF SUMMERVILLE, SUMMERVILLE HIGH SCHOOL, DORCHESTER COUNTY SCHOOL DISTRICT TWO, AND DORCHESTER COUNTY AS A WHOLE. IN CARRYING OUT THIS MISSION, THE ORGANIZATION WILL OVERSEE AND COORDINATE CONSTRUCTION CREWS AND COVER THE COSTS OF CONSTRUCTION. THE ORGANIZATION WILL MAINTAIN THE FACILITY AND ITS SURROUNDING AREA THAT IS MAY BENEFIT THE COMMUNITY FOR FUTURE GENERATIONS TO COME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTH MAGNOLIA EVENT GROUP MANAGES, DIRECTS, AND LEADS REVITILIZATION PROJECTS AT STADIUM PARK LOCATED NEXT TO SUMMERVILLE HIGH SCHOOL THAT WILL HELP INCREASE THE CAPACITY OF THE STADIUM AND IMPROVE THE FACILITIES SURROUNDING THE STADIUM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward L Crosby President | OfficerTrustee | 1 | $0 |
James M Tupper Vice President | OfficerTrustee | 5 | $0 |
Terrence Jenkins Treasury | OfficerTrustee | 1 | $0 |
Anthony Soles Secretary | OfficerTrustee | 1 | $0 |
Ashley Wimberly Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $516,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $163,354 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $679,854 |
| Total Program Service Revenue | $0 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $679,854 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,298 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $231 |
| 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 | $32,720 |
| Insurance | $1,478 |
| All other expenses | $49 |
| Total functional expenses | $38,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,441 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,542 |
| Other assets | $1,554,723 |
| Total assets | $1,739,706 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $1,739,706 |
| Total liabilities and net assets/fund balances | $1,739,706 |