Sc Chamber Education and Workforce Development Foundation

Nonprofit profile at a glance

EIN
570901267
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Columbia, SC, USA
Phone
8032552626
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$987,688
Expenses
$992,802
Assets
$2,412,093
Liabilities
$531,455

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Mike Brenan (President and CEO)

Highest reported compensation

  • Mike Brenan (President and CEO): $148,981 total reported compensation

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

Overview

Mission

The foundation's education workforce and diversity interests are broad. It seeks to promote collaboration among a wide range of stakeholders- school staff (pre-school through higher education), families, community organizations, agencies, and businesses. The foundation seeks to further its interests through a carefully considered identification and subsequent funding of worthy activities, research studies, and projects. It is authorized by its by-laws to engage in activities that are designed to enhance public education, workforce development and diversity inclusion.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 59% for direct work, and 41% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 83
  • Sustainability: 47
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.9%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.6%; rating input score 100; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 21st percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.5%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 2.43; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -5% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -9.2% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.9% of spending went to programs
  • Governance: 7 of 8 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $981K in reported program spending
  • Leadership: top reported pay $149K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 9 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.