The Preservation Society of Charleston Inc

What it reported doing in 2024

AdvocacyThe Preservation Society of Charleston (PSC) works to protect Charleston's historic buildings, cultural resources and communities by promoting better development practices, flood mitigation, and tourism management. We support a more livable, sustainable future for Charleston through advocacy, education, and community engagement. The PSC is in a unique position to analyze and explain the connections between planning and zoning decisions and the quality of life for people who live and work in Charleston. Through regular communication (both electronic and print) and an informative and versatile website, the PSC alerts citizens to the issues, encouraging them to engage with their public officials, and to have a voice in the public process. Additional aspects of our advocacy work include: Sustainable Growth and Development by DesignWith intense pressure for new, large-scale development is impacting every major city in America, and Charleston is no exception. The rapid Charleston population growth requires added vigilance to promote sustainable development patterns and preservation of the city's unique architectural character. The community must work together to ensure Charleston doesn't become "Anywhere, USA."Charleston has long been a pioneer in historic preservation. In 1931, urged by the PSC, the City passed the nation's first zoning ordinance to protect historic buildings. For nearly a century, our Board of Architectural Review has been a model for cities around the country, tasked with reviewing applications for demolitions, alterations, and new construction within an area covering over 1,000 acres.Yet, Charleston's desirability in the modern era has wrought major new challenges. City boards and commissions tasked with managing growth are inundated with requests that are ever-increasing in size and complexity. In the last several years, there has been a noted uptick in proposals that are incompatible with environmental realities and the character Charleston has fought to sustain for over 100 years.The PSC's vision for growth puts the responsibility on developers to demonstrate how their project contributes to our unique historic city. The focus of our land-use policies must be on creating a city that works for people, embracing humanistic and resilient design, not simply whatever will most profitably expand the tax base.FloodingCharleston's connection to the sea is integral to its identity. Yet water is a blessing and a curse for our built environment. We must address a complex suite of flooding challenges that threaten our historic city including storm surges, king tides, and groundwater inundation.Successful management of flooding in Charleston requires us to continuously press our public officials to manage growth wisely and invest in critical infrastructure to protect life and property. In the last several years, the impacts to our already flood-prone City have been noticeably accentuated by the rapid growth of our built environment and sea-level rise. Time is of the essence to ensure that the city's growth does not compromise its resilience.The PSC is committed to finding solutions that best safeguard our community and the heritage it stewards from increasing flood events and climate change. Charleston's distinct character, quality of life, and diverse neighborhoods are all at risk if we avoid the continuous need for comprehensive flood risk mitigation.Tourism ManagementThe Preservation Society is a committed advocate for sustainable tourism. The City was a pioneer when it adopted the nation's first local tourism management plan in 1978, but in recent years has missed opportunities to modernize its policies and programs. Key current issues in Charleston tourism that must be addressed include housing affordability, the loss of neighborhood businesses, and increasing congestion.Tourism is not new to Charleston. Visitation to historic buildings was an important economic driver of early historic preservation efforts i

Financial Efficiency

• Mission deployment rate: 68.3%; rating input score 68
• Program expense ratio: 70.3%; rating input score 70
• Fundraising efficiency: $5.13 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• 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: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 37%; rating input score 88; 88th percentile among comparable filings
• Total-asset coverage ratio: 5.13; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 18.3%; rating input score 14; 14th percentile among comparable filings

Growth

• Program expense growth: 9.2% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 11.9% per year; rating input score 100; 74th percentile among comparable filings
• Asset growth: 13.7% per year; rating input score 100; 71st percentile among comparable filings