Columbia Development Corporation

Nonprofit profile at a glance

EIN
571012435
IRS 990 coverage
2011–2019
Forms available
Form 990 2019
Location
Columbia, SC, USA
Phone
8039888040
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Reported finances

Revenue
$457,565
Expenses
$254,120
Assets
$2,974,132
Liabilities
$48,806

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • FRED DELK (EXECUTIVE DIRECTOR)

Highest reported compensation

  • FRED DELK (EXECUTIVE DIRECTOR): $83,992 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Columbia development corporation is a catalyst that stimulates economic and residential development to advance the overall quality of life in columbia.

What it reported doing in 2019

Initiates programs and organizes efforts to stimulate economic and residential development to advance the overall quality of life in columbia and South Carolina.

Operating model

Revenue model
Affiliate-supported. 94% of the money available for current operations came from contributions from related organizations.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 76
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58%; rating input score 58
  • Program expense ratio: 80%; rating input score 80
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.5%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 11.7; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -11.9% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: -9.1% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 58% of revenue deployed · 80% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $203K in reported program spending
  • Leadership: top reported pay $84K · 10 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2011 to 2019
  • Contacts: How to reach this organization
  • Related organizations: 4 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.