Santee-lynches Regional Development Corporation

Nonprofit profile at a glance

EIN
570751756
IRS 990 coverage
2009–2020
Forms available
Form 990 2020
Location
Sumter, SC, USA
Phone
8037757381
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$-125,769
Expenses
$124,743
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • JEFFREY GRAHAM (PRESIDENT)
  • JARED SMITH (VICE PRESIDENT)
  • CHRISTOPHER MCKINNEY (EXECUTIVE DIRECTOR (FORMER))
  • AREATHA CLARK (INTERIM EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHRISTOPHER MCKINNEY (EXECUTIVE DIRECTOR (FORMER)): $130,339 total reported compensation
  • AREATHA CLARK (INTERIM EXECUTIVE DIRECTOR): $87,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To nurture an increase in employment opportunities through the expansion of existing business and industry, the attraction of new business and industry and those activities directly related to tax based growth.

What it reported doing in 2020

Acquired rights to blighted property and demolished blight to improve neighborhoods, assist in attraction of new business and improve tax base.

Operating model

Revenue model
Other-operating. 86% of the money available for current operations came from other operating revenue.
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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 7
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.7%; rating input score 12
  • Program expense ratio: 93.2%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • 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: Pass
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -199.2%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 23.2% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 26.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 37th percentile among comparable filings

Details

  • Where the money goes: 11.7% of revenue deployed · 93.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $116K in reported program spending
  • Leadership: top reported pay $130K · 15 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2009 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 12/100.
  • High — Sustainability: Operating margin scored 13/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Growth: Asset growth scored 0/100.