South Carolina Technical College System Foundation
Nonprofit profile at a glance
- EIN
- 570468430
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Columbia, SC, USA
- Phone
- 8038965320
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Vocational, Technical Schools
Reported finances
- Revenue
- $609,463
- Expenses
- $519,690
- Assets
- $971,845
- Liabilities
- $4,787
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- Mac Bennett (Interim CEO)
- NAOMI LETT (ED & CEO)
Highest reported compensation
- Mac Bennett (Interim CEO): $80,640 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 mission of the foundation is to be a supporting organization of the South Carolina technical college system (the "system"). The foundation fosters enduring relationships that build advocacy and support for the system and the sixteen (16) technical colleges associated therewith, to ensure and promote educational excellence. The foundation supports the South Carolina technical college system's efforts to provide high-quality, relevant, and effective programs to promote economic and workforce development within the state.
What it reported doing in 2024
CREATE OPPORTUNITY IS AN INITIATIVE OF THE FOUNDATION THAT INCREASES THE SUPPLY OF HIGH-DEMAND SOFTWARE ENGINEERS THROUGH A SCREENING, TRAINING AND APPRENTICESHIP MODEL DESIGNED FOR INDIVIDUALS FROM DIVERSE, NON-TECHNICAL BACKGROUNDS. THE FOUNDATION HAS DEVELOPED A UNIQUE, HIGH-IMPACT CURRICULUM THAT YIELDS DIFFERENTIATED RESULTS. TO DATE, 100% OF THE FOUNDATION'S APPRENTICES HAVE BEEN PLACED AT A MEDIAN SALARY IN EXCESS OF $50,000 PER YEAR WITH HEALTH INSURANCE AND RETIREMENT BENEFITS.CREATE OPPORTUNITY'S PROGRAM HAS BEEN DEVELOPED IN PARTNERSHIP WITH SOUTH CAROLINA'S TECHNICAL COLLEGE SYSTEM, AND CONSISTS OF CURRICULUM DEVELOPOMENT, SOFT SKILLS AND LIFE COUNSELING, FINANCIAL SUPPORT AND PARTNERSHIPS TO ENSURE LONG-TERM SUCCESS.CURRENT INDICATORS OF SUCCESS INCLUDE:1. STUDENT ENROLLMENT AND COMPLETION RATES - GRADUATION RATE HAS IMPROVED WITH EVERY COHORT FOR 2.5 YEARS. COMPLETION RATE = 61%;2. Job placement/retention rates - % of graduates employed in their field within 6 months of graduation = 100%, graduates who remain employed after 1 year = 92%;3. Skills proficiency - regular testing to measure proficiency in key technical skills;4. Program efficiency - regular feedback from instructors to asses curriculum effectiveness and student progress; and5. Income improvement - average participant income increases 76% upon placement in first apprenticeship, potential earnings of $1.2 million over 20 years.
Operating model
- Revenue model
- Donor-supported. 95% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 86% 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 a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 54
- Transparency & Controls: 93
- Accountability: 90
- Sustainability: 62
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 49.9%; rating input score 50
- Program expense ratio: 56.1%; rating input score 56
- Fundraising efficiency: $26.5 raised per $1 spent on fundraising; rating input score 66; 66th 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: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 14.7%; rating input score 69; 69th percentile among comparable filings
- Total-asset coverage ratio: 1.87; rating input score 63; 63rd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
- Officer compensation ratio: 15.5%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: 10.8% per year; rating input score 100; 65th percentile among comparable filings
- Revenue growth: 14.7% per year; rating input score 100; 78th percentile among comparable filings
- Asset growth: 2.8% per year; rating input score 100; 29th percentile among comparable filings
Details
- Where the money goes: 49.9% of revenue deployed · 56.1% of spending went to programs
- Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $292K in reported program spending
- Leadership: top reported pay $81K · 12 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules · includes grants
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 2 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.
- Review — Financial Efficiency: Mission deployment rate scored 50/100.
- Review — Financial Efficiency: Program expense ratio scored 56/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Officer compensation ratio scored 22/100.