Sc Launch Inc
- Assets
- $13.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia, SC
- Founding
- 06/2008
- Data as of
- 06/2022
- EIN
- 20-4692622
Organization Overview
Sc Launch Inc is located in Columbia, SC. The organization was established in 2008. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. SC Launch Inc 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, SC Launch Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. While expenses have increased by 2.3% 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.
Since 2015, SC Launch Inc has awarded 131 individual grants totaling $25,084,046. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FUEL SOUTH CAROLINA'S INNOVATION ECONOMY BY ACCELERATING TECHNOLOGY-ENABLED GROWTH IN RESEARCH, ACADEMIA, ENTREPRENEURSHIP AND INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING EQUITY INVESTMENTS AND CONVERTIBLE DEBENTURE FUNDING TO TECHNOLOGY-RELATED EARLY-STAGE BUSINESSES TO FOSTER ECONOMIC GROWTH AND JOB CREATION AS A SUPPORTING ORGANIZATION OF THE SOUTH CAROLINA RESEARCH AUTHORITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Bell Executive Director | Officer | 20 | $0 |
John E Sircy Treasurer | Officer | 5 | $0 |
Teresa Hinson Secretary | Officer | 2 | $0 |
W Patrick Springhart Director | Trustee | 1.5 | $0 |
Stephen K Wiggins Director | Trustee | 1.5 | $0 |
Juliana Iarossi Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $196,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,778,439 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,975,171 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,650,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,910 |
| Fees for services: Accounting | $20,618 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,124 |
| Fees for services: Other | $1,894 |
| Advertising and promotion | $0 |
| Office expenses | $546 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,800 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,185 |
| All other expenses | $0 |
| Total functional expenses | $1,741,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,417,814 |
| Savings and temporary cash investments | $95,962 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,956 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $293,649 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,259,182 |
| Investments—other securities | $0 |
| Investments—program-related | $4,887,488 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,983,051 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,983,051 |
| 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 | $12,983,051 |
Grants Awarded
Over the last fiscal year, Sc Launch Inc has awarded $1,650,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ELASTRIN THERAPEUTICS INC PURPOSE: Investment | $300,000 |
ZYLO THERAPEUTICS INC PURPOSE: Investment | $300,000 |
TFORM INC PURPOSE: Investment | $300,000 |
AICG INC PURPOSE: Investment | $250,000 |
HANK AI INC PURPOSE: Investment | $200,000 |
BILDIT INC PURPOSE: Investment | $200,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sc Launch Inc has recieved totaling $1,900,000.
| Awarding Organization | Amount |
|---|---|
South Carolina Research Authority columbia, SC PURPOSE: PROGRAM SUPPORT-RELATED ORGANIZATION | $1,900,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Waccamaw Community Foundation Inc Murrells Inlet, SC | $30,138,658 | $6,245,346 |
Shumard Foundation Inc Atlanta, GA | $18,870,364 | $808,294 |
Greenville Area Development Corporation Greenville, SC | $4,479,595 | $2,418,141 |
Wake Forest Innovation Quarter Management Co Winstonsalem, NC | $76,176 | $0 |
Sc Launch Inc Columbia, SC | $12,983,051 | $2,975,171 |
Poplar Springs Fire Service Area Moore, SC | $4,360,898 | $2,218,008 |
Society Of Women Engineers Endowment Fund Inc Sanford, NC | $12,880,425 | $978,863 |
Georgia Transportation Alliance Inc Atlanta, GA | $275,023 | $553,290 |
Csra Property Holding 2 Inc Augusta, GA | $0 | $95,187 |
T C Roberson Rams Club Inc Skyland, NC | $151,073 | $260,339 |
Gaston Together Communites Of Excellence Gastonia, NC | $212,084 | $226,035 |
Lead-Chs Foundation North Charleston, SC | $195,414 | $166,320 |