Folly Association of Business

Nonprofit profile at a glance

EIN
570870145
IRS 990 coverage
2018–2025
Forms available
Form 990 2025, Form 990-EZ 2017, Form 990-N 2011
Location
Folly Beach, SC, USA
Phone
8432967190
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$129,044
Expenses
$43,979
Assets
$283,113
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • VINCE PERNA (PRESIDENT)
  • ERIN GUTHRIE (VICE-PRESIDENT)

People named in this filing

  • VINCE PERNA (PRESIDENT)
  • ERIN GUTHRIE (VICE-PRESIDENT)
  • EMMA FEIDT (SECRETARY)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The promotion of business and tourism in folly beach, s.c.

What it reported doing in 2025

Beautification of folly beach area, including area business property, landscaping and streets.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 86
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 25.9%; rating input score 26
  • Program expense ratio: 75.6%; rating input score 76
  • Fundraising efficiency: $2,227.5 raised per $1 spent on fundraising; rating input score 99; 99th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 65.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 6.44; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -9.3% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 25.9% of revenue deployed · 75.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $33K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2025
  • 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 — Financial Efficiency: Mission deployment rate scored 26/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.