Freshwater Coast Community Foundation
- Assets
- $1.8m
- Revenue
- $200.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Abbeville, SC
- Founding
- 04/2015
- Data as of
- 12/2021
- EIN
- 47-1174877
Organization Overview
Freshwater Coast Community Foundation is located in Abbeville, SC. The organization was established in 2015. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Freshwater Coast Community Foundation 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 12/2021, Freshwater Coast Community Foundation generated $200.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.4% each year . All expenses for the organization totaled $75.0k during the year ending 12/2021. While expenses have increased by 3.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FRESHWATER COAST COMMUNITY FOUNDATION IS CHARTERED TO MAKE INVESTMENTS TO IMPROVE OUR SCHOOLS AND EDUCATIONAL PROCESSES. WE ARE HERE TO HELP BUSINESSES LAUNCH THEIR ENTERPRISES AND PROMOTE CONTINUING EDUCATION FOR THEM TO SUCCEED. ADDITIONALLY, OUR SUPPORT OF CULTURAL ENRICHMENT AND THE ARTS ENHANCES THE QUALITY LIFE IN OUR REGION OF ABBEVILLE COUNTY, MCCORMICK COUNTY AND THE STARR-IVA AREA OF ANDERSON COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FRESHWATER COAST COMMUNITY FOUNDATION SERVES THE REGION OF ABBEVILLE COUNTY, MCCORMICK COUNTY, AND THE STARR-IVA AREA OF ANDERSON COUNTY BY PROVIDING GRANTS AND SCHOLARSHIPS TO PROMOTE CONTINUING EDUCATION AND CULTURAL ENRICHMENT. ADDITIONALLY, WE PARTNER WITH THE CLEMSON UNIVERSITY EXTENSION TO HELP BUSINESSES LAUNCH THEIR ENTERPRISES AND HELP THEM ACHEIVE SUCCESS.
THE ABBEVILLE PROMISE PROVIDES TUITION ASSISTANCE TO MAKE HIGHER EDUCATION AVAILABLE TO EVERY RESIDENT OF ABBEVILLE COUNTY WHO GRADUATES HIGH SCHOOL. SUCH OPPORTUNITIES CAN PREPARE YOUNG PEOPLE TO BE THE WORKFORCE OF THE FUTURE, THE NEXT GENERATION OF PRODUCTIVE CITIZENS, AND THE CIVIC LEADERS OF TOMORROW; THEREBY ALLOWING COMMUNITES TO GROW, PROGRESS, AND PROSPER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Logan Secretary | OfficerTrustee | 15 | $0 |
C Brad Evans Chairman | OfficerTrustee | 2 | $0 |
Wes Mcalister Vice Chairma | OfficerTrustee | 1 | $0 |
Andy Timmerman Treasurer | OfficerTrustee | 2 | $0 |
Kirk Smith Board Member | Trustee | 1 | $0 |
Amos Cunningham Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $167,105 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,105 |
| Total Program Service Revenue | $0 |
| Investment income | $27,597 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,611 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $200,091 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,375 |
| Grants and other assistance to domestic individuals. | $20,234 |
| 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 | $1,416 |
| Fees for services: Accounting | $3,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,401 |
| Fees for services: Other | $1,252 |
| Advertising and promotion | $0 |
| Office expenses | $3,787 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $75,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,576 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $132,633 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,495,574 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,832,783 |
| 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 | $783,066 |
| Net assets with donor restrictions | $1,049,717 |
| 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 | $1,832,783 |
Grants Awarded
Over the last fiscal year, Freshwater Coast Community Foundation has awarded $32,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CLEMSON UNIVERSITY PURPOSE: TO FUND A COMMUNITY COORDINATOR POSITION | $30,000 |
LAKE RUSSELL RECREATION & TOURISM COALITION PURPOSE: TO SUPPORT EVENT HELD AT LAKE RUSSELL | $500 |
Greenwood, SC PURPOSE: TO SUPPORT PROGRAM | $500 |
DIXIE HIGH SCHOOL FBLA PURPOSE: TO SUPPORT STUDENTS ATTENDING NATIONAL CONFERENCE | $500 |
Mc Cormick, SC PURPOSE: TO SUPPORT PROGRAM | $500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Freshwater Coast Community Foundation has recieved totaling $105.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $105 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Revitalization And Reservation Corporation Raleigh, NC | $42,174,048 | $6,127,827 |
Action Ministries Inc Atlanta, GA | $1,217,329 | $6,005,144 |
Macon Program For Progress Inc Franklin, NC | $4,140,182 | $6,952,364 |
Lowcountry Community Action Agency 807 Hampton Walterboro, SC | $2,100,801 | $6,798,498 |
South Carolina Association Of Community Action Partnerships Columbia, SC | $5,897,085 | $5,969,742 |
St James Plantation Property Owners Association Inc Southport, NC | $7,137,259 | $6,065,011 |
Fcs Urban Ministries Inc Atlanta, GA | $14,341,492 | $9,768,608 |
Greater Lake City Alliance Lake City, SC | $96,049,976 | $19,968,830 |
West Central Georgia Community Action Council Inc Montezuma, GA | $642,760 | $3,371,708 |
Central Piedmont Community Action Inc Siler City, NC | $712,195 | $3,336,441 |
El Centro Hispano Inc Durham, NC | $2,717,075 | $4,375,349 |
Central Atlanta Progress Inc Atlanta, GA | $5,979,541 | $3,089,217 |