Greenville Area Development Corporation

Nonprofit profile at a glance

EIN
571125289
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Greenville, SC, USA
Phone
8642352008
Rating
79
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Single Organization Support

Reported finances

Revenue
$2,536,026
Expenses
$1,596,270
Assets
$3,985,153
Liabilities
$205,827

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

Leadership & pay

18 people listed

Executive titles in this filing

  • KEVIN LANDMESSER (INTERIM CEO / SR VP)
  • MAXWELL STEWART (PRESIDENT)

Highest reported compensation

  • KEVIN LANDMESSER (INTERIM CEO / SR VP): $174,886 total reported compensation
  • TAVIA GADDY (SENIOR PROJECT MANAGER / VP): $172,347 total reported compensation
  • CHARLES SMITH (SENIOR PROJECT MANAGER): $167,784 total reported compensation

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

Overview

Mission

Promoting and enhancing the economic growth and development of greenville county South Carolina; gadc was formed by greenville county council.

What it reported doing in 2024

General program costs - includes salaries and related overhead required to recruit specific potential businesses to the greenville area and to support expansion of existing businesses.

Operating model

Revenue model
Affiliate-supported. 67% 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 - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.7%; rating input score 54
  • Program expense ratio: 81.9%; rating input score 82
  • Fundraising efficiency: $113.56 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 37.1%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 2.5; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 42.8%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 53.7% of revenue deployed · 81.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $175K · 18 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.