Horry-georgetown Technical College Foundation Inc

Nonprofit profile at a glance

EIN
570681224
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Conway, SC, USA
Phone
8434772174
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Single Organization Support

Reported finances

Revenue
$2,812,665
Expenses
$1,289,215
Assets
$19,962,852
Liabilities
$75,121

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

Leadership & pay

4 people listed

People named in this filing

  • JOHN SAWYER (CHAIRMAN)
  • DAVID SINGLETON (VICE CHAIR)
  • JOHN DRAUGHN (TREASURER)

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

The Foundation was formed for the purpose of accepting donations for the support of the Horry-Georgetown Technical College, which is located in Myrtle Beach, South Carolina.

What it reported doing in 2024

Accepting and disbursing funds for the support of the horry-georgetown technical college

Operating model

Revenue model
Investment-supported. 70% of the money available for current operations came from recurring investment income.
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

STRONG - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 93
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.5%; rating input score 46
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: $5.88 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

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 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 54.2%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 15.48; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 10.3% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 7.2% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 45.5% of revenue deployed · 76.2% of spending went to programs
  • Governance: 34 of 34 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $982K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Financial Efficiency: Fundraising efficiency scored 21/100.