South Carolina Council On Competitiveness
- Assets
- $3.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Columbia, SC
- Founding
- 08/2005
- Data as of
- 06/2022
- EIN
- 20-1690146
Organization Overview
South Carolina Council On Competitiveness is located in Columbia, SC. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, South Carolina Council On Competitiveness employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Carolina Council On Competitiveness is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, South Carolina Council On Competitiveness generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $2.3m during the year ending 06/2022. While expenses have increased by 5.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SOUTH CAROLINA COUNCIL ON COMPETITIVENESS IS A NONPARTISAN, BUSINESS-LED NON-PROFIT ORGANIZATION COMMITTED TO ADVANCING THE LONG TERM COMPETITIVENESS OF SOUTH CAROLINA THROUGH ACTIONABLE RESEARCH, SUPPORT OF INDUSTRY CLUSTERS AND EDUCATION AND WORKFORCE DEVELOPMENT INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOUTH CAROLINA COUNCIL ON COMPETITIVENESS WORKS TO ADVANCE THE ECONOMIC COMPETITIVENESS OF THE STATE OF SOUTH CAROLINA THROUGH RESEARCH, SUPPORT FOR INDUSTRY CLUSTERS, AND EDUCATION AND WORKFORCE INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Ann Shannon President & CEO | OfficerTrustee | 40 | $33,000 |
M Edward Sellers Chairman | OfficerTrustee | 1 | $0 |
Joel A Smith III Treasurer | OfficerTrustee | 0.5 | $0 |
Paula Harper Bethea Board Member | Trustee | 0.5 | $0 |
Don Herriott Board Member | Trustee | 0.5 | $0 |
Joe Blanchard Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Margaret Torrey Cluster & Workforce Development | 6/29/22 | $100,750 |
Results Ignite Llc Cluster & Workforce Development | 6/29/22 | $158,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,911,087 |
| All other contributions, gifts, grants, and similar amounts not included above | $586,111 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,497,198 |
| Total Program Service Revenue | $0 |
| Investment income | $333 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,497,531 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $38,000 |
| Compensation of current officers, directors, key employees. | $5,243 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $427,910 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,821 |
| Payroll taxes | $34,848 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $870 |
| Fees for services: Accounting | $107,255 |
| Fees for services: Lobbying | $16,800 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $23,757 |
| Information technology | $2,268 |
| Royalties | $0 |
| Occupancy | $58,208 |
| Travel | $78,544 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,923 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,768 |
| Insurance | $1,758 |
| All other expenses | $0 |
| Total functional expenses | $2,295,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,494,803 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,139 |
| Accounts receivable, net | $631,072 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,499 |
| Net Land, buildings, and equipment | $6,563 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,250 |
| Other assets | $0 |
| Total assets | $3,212,326 |
| Accounts payable and accrued expenses | $422,338 |
| Grants payable | $0 |
| Deferred revenue | $30,582 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,240 |
| Total liabilities | $455,160 |
| Net assets without donor restrictions | $2,681,500 |
| Net assets with donor restrictions | $75,666 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,212,326 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that South Carolina Council On Competitiveness has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Central Carolina Community Foundation Columbia, SC PURPOSE: GENERAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |
Srs Community Reuse Organization Aiken, SC | $6,557,053 | $4,875,445 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Rowen Foundation Inc Lawrenceville, GA | $75,583,362 | $5,573 |
Mdc Inc Durham, NC | $4,444,816 | $5,223,210 |
Palmetto Economic Development Corp Columbia, SC | $2,291,624 | $3,424,081 |
Fayetteville Area Convention & Visitors Bureau Inc Fayetteville, NC | $1,870,197 | $2,954,828 |
Upstate South Carolina Alliance Inc Greenville, SC | $3,024,516 | $2,638,082 |