Clarendon Facilities Corporation

Nonprofit profile at a glance

EIN
273883624
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Manning, SC, USA
Phone
8034358424
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Government and Public Administration

Reported finances

Revenue
$2,525,075
Expenses
$1,783,951
Assets
$25,119,199
Liabilities
$23,715,000

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • AUGUST J CUTTER (BOARDCHAIR)
  • MICHAEL L KING (VICE-CHAIR/SECRETARY/TREAS)
  • BOBBY PIERCE (BOARDMEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organization established to acquire, construct, improve and lease facilities to lessen the burden of clarendon county, sc (a political sub-division of the state of South Carolina), which may also include the issuance of debt.

What it reported doing in 2024

Organization leased county administration complex to clarendon county, sc in an ammount equal to the annual debt service requirements on associated debt/bond issuance. The installment purchase agreement between the organization and clarendon county requires that the county pay to the organization an annual installment payment equal to the debt services requirements associated with issued debt. A transfer of interest/ownership equal to said annnual principal portion of the payment in the facility is given from the organization to clarendon county. When the bonds are paid off, clarendon county will have 100% ownership in said facility.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.6%; rating input score 71
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.4%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 14.08; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 25.4% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 35.7% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 22.1% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 70.6% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $1.8M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.