Historic Charleston Foundation

What it reported doing in 2024

Preservation services - historic charleston foundation (hcf) is one of the nation's oldest and most respected historic preservation organizations. Founded in 1947 by a group of concerned local citizens, the foundation continues its vital role in managing growth in charleston and preserving the city's historic architecture and neighborhoods. Hcf is currently one of the most innovative and effective preservation advocacy organizations in the united states.the foundation created the nation's first revolving fund for neighborhoods, saving and protecting over 140 historic structures, and stressing the importance of revitalizing entire neighborhoods rather than just individual buildings. Hcf credits its ansonborough project with inspiring community-based conservation efforts in historic neighborhoods throughout the nation. Through the revolving fund, hcf purchased a historic gas station at 80 ashley avenue that was at risk of demolition by neglect. After embarking on a significant masonry restoration project that stabilized the structure, hcf listed the property for sale. With restrictive covenants in place, hcf is looking for preservation-minded buyers to revitalize this historic commercial building.the foundation's neighborhood revitalization initiative is an arm of the revolving fund. Established in 1995, the goal is to be a catalyst for the preservation of neighborhoods by creating community gathering spaces and rehabilitating deteriorated historic properties, while also preventing displacement of long-term residents. In 2014, hcf provided funding to establish the romney urban garden, a joint project with new israel reformed episcopal church which owned an abandoned lot in the north central neighborhood. The community garden continues to flourish as the site of community events to include musical performances, poetry readings and pizza parties, with pizza and pies made in the garden's oven. The community gathering space concept has been so successful that hcf expanded the program to include working with local partners to establish a book nook reading area and pollinator garden in the same neighborhood. The foundation's common cause loan fund is a partnership between hcf and the housing affordability non-profit, the charleston redevelopment corporation. The common cause loan fund provides loans of up to $60,000 for exterior repairs to historic houses for income qualified homeowners. These legacy homeowners contribute to the cultural fabric of charleston and these needed repairs help families to retain ownership of their homes. Potential participants are below the 80% of area median income threshold. In 2024, hcf approved three repair projects under the common cause loan fund and partnered with city of charleston on applications for three additional larger and more complex projects. Hcf is also known as an innovator in historic easement and covenant programs. The foundation holds approximately 380 easements and restrictive covenants, which protect historic buildings in the city and outlying areas as well as over two thousand acres of open land of historic significance. Properties protected by easements and covenants held by hcf are as diverse as the magnificent c.1772 william gibbes house in downtown charleston to the c.1939 auldbrass near beaufort, sc, the only plantation designed by frank lloyd wright. Through its easements manager, the foundation performs annual inspections and provides technical outreach to all our easement and covenant property owners, helping with appropriate conservation techniques for issues ranging from brick re-pointing to window restoration to the cleaning of architectural stone. The foundation actively advocates and continually monitors issues of preservation, urban planning, climate resilience, livability, and development across the city and county of charleston and is a staunch defender of the public process. The preservation department makes significant contributions and provides input at county and

Financial Efficiency

• Mission deployment rate: 84.1%; rating input score 84
• Program expense ratio: 75.3%; rating input score 75
• Fundraising efficiency: $4.19 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • 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: 3.5%; rating input score 46; 46th percentile among comparable filings
• Total-asset coverage ratio: 7.47; rating input score 88; 88th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
• Officer compensation ratio: 10.2%; rating input score 29; 29th percentile among comparable filings

Growth

• Program expense growth: -0.7% per year; rating input score 0; 12th percentile among comparable filings
• Revenue growth: 0.1% per year; rating input score 100; 12th percentile among comparable filings
• Asset growth: 4% per year; rating input score 100; 29th percentile among comparable filings