Yemassee Revitalization Corporation

Nonprofit profile at a glance

EIN
262410360
IRS 990 coverage
2011–2011
Forms available
Form 990 2011, Form 990-EZ 2010
Location
Yemassee, SC, USA
Phone
8435894100
Rating confidence
Limited
Sector
Cultural, Ethnic Awareness

Reported finances

Revenue
$197,725
Expenses
$59,301
Assets
$260,780
Liabilities
$32,407

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

11 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the YRC is to restore and beautify historic downtown Yemassee, educate about the area's rich history and culture, and help preserve the beautiful natural environment that surrounds Yemassee. YRC's underlying goal is to foster economic development of downtown Yemassee.

What it reported doing in 2011

Restoration and beautification of downtown Yemassee: First project is restoration of the historic train depot. Achievements to date are as follows:1. Completed conceptual design and costs estimates for train station and adjoining parking lot renovations.2. Defined detailed deal with CSX on transfer of train station building and sale of adjoining property to Town of Yemassee.3. Worked with Amtrak to finalize a lease agreement between Amtrak and the Town of Yemassee for the train station building.4. Conducted fundraisers to amass capital funding for matching funds for potential grants for the train station renovations.5. Researched multiple grant sources for funding of the train depot renovations.6. Hired a contractor to complete a streetscape plan for downtown Yemassee.7. Painted fence on old Barracks site in Yemassee.8. Implemented a Farmer's Market on the old Barracks site.Number of people served: 1000 area residents. 12,000 Amtrak passengers.2010:1. Purchased the Train Station building and adjoining property from CSC for the Town of Yemassee. Deal completed in September 2010.2. Hired a contractor to complete the stormwater plan for the depot parking lot. Plan has been reviewed and approved by Town, SCDOT, DHEC and CSX.3. Obtained permits from SC-DHEC for removal and disposal of non-friable asbestos off the depot back loading dock.4. Hired contractor to complete the Construction Drawing Design documents for the depot.5. Hired a contractor to complte a streetscape plan for Wall Street in downtown Yemassee.6. Hired contractor to complete condeptual design and estimates for the renovation of the old health center in downtown Yemassee.7. Wrote and submitted a USDA Rural Business Enterprise grant application on behalf of the Town of Yemassee to renovate the old health center. Town of Yemassee received notification of grant award (76K)8. Working with contractor to finalize old health center design plans for approval by USDA.Number of People Served: 1000 area residents, 12,000 Amtrak passengers. Year 2011: The YRC successfully completed Phase 1 of renovations to the town's historic train depot. This renovation was a $245,000 project that required the YRC to raise $165,000 in less than a year. YRC has now moved to Phase II of the depot renovations which consist of demolishing the existing parking lot, burying electric and water lines that will provide services to the depot building and paving and grading the old parking lot.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 70%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 4.4; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 56.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 75.6% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 97.4% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $24K in reported program spending
  • Leadership: top reported pay $26K · 11 people listed
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.