Sovsc

Nonprofit profile at a glance

EIN
823602253
IRS 990 coverage
2019–2020
Forms available
Form 990 2020
Location
Bluffton, SC, USA
Phone
8437906439
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$548,463
Expenses
$515,217
Assets
$4,346,521
Liabilities
$4,297,964

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Sean Thornton (Board President)

Highest reported compensation

  • Sean Thornton (Board President): $115,000 total reported compensation
  • Jeff Kidd (Board Member): $70,692 total reported compensation

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

Overview

Mission

The sole purpose and business of SOVSC is to acquire, own, finance and operate the buildings and property located at 108 and 110 Trader's Cross, Okatie, South Carolina, and leasing the property in its entirety on a nonprofit basis to the Office of the Solicitor for the 14th Judicial Circuit, with the exception of tenants inherited from the previous owner.

What it reported doing in 2020

Rental of real property.

Operating model

Revenue model
Other-operating. 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 68
  • Sustainability: 46
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.1%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 8.44; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.99; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -6.8% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: -3% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $515K in reported program spending
  • Leadership: top reported pay $115K · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2019 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.