Preservation Society Of Charleston
- Assets
- $9.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 25
- Location
- Charleston, SC
- Founding
- 04/1961
- Data as of
- 06/2022
- EIN
- 57-0439524
Organization Overview
Preservation Society Of Charleston is located in Charleston, SC. The organization was established in 1961. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Preservation Society Of Charleston employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preservation Society Of Charleston 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, Preservation Society Of Charleston generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 9.0% 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 PRESERVATION SOCIETY OF CHARLESTON, INC. (THE SOCIETY) IS A NONPROFIT CORPORATION ORGANIZED IN 1920. THE SOCIETY SERVES AS A STRONG ADVOCACY LEADER FOR CITIZENS CONCERNED ABOUT PRESERVING CHARLESTON'S DISTINCTIVE CHARACTER, QUALITY OF LIFE, AND DIVERSE NEIGHBORHOODS. THE SOCIETY'S SUPPORT AND REVENUE COMES PRIMARILY FROM CONTRIBUTIONS AND BEQUESTS, MEMBERSHIP FEES, RETAIL SALES, SPONSORSHIPS, AND HERITAGE TOURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCACY - THE PRESERVATION SOCIETY (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 THE PSC EASEMENT PROGRAM, WHICH PROTECTS SIGNIFICANT HISTORIC PROPERTIES IN PARTNERSHIP WITH HOMEOWNERS, THE CAROLOPOLIS AWARDS, WHICH IS A TIME-HONORED CELEBRATION OF EXEMPLARY PRESERVATION EFFORTS, AND RESEARCH INITIATIVES TO HIGHLIGHT CHARLESTON'S UNDER-REPRESENTED HISTORY, SUCH AS THE CHARLESTON JUSTICE JOURNEY.
RETAIL SHOP - THE RETAIL OPERATION OF THE SOCIETY IS COMPRISED OF A BRICKS-AND-MORTAR SHOP AND GROWING ONLINE PRESENCE AND IS STAFFED BY A GROUP OF GIFTED EMPLOYEES. THE SHOP FEATURES THE WORK OF LOCAL "MAKERS" FROM FEATHER BRACKISH BOWTIES TO A LINE OF LOCALLY CRAFTED HANDBAGS. MORE THAN EVER ALIGNED WITH THE SOCIETY'S MISSION OF ADVOCATING FOR WHAT IS TRULY AUTHENTIC AND REAL IN CHARLESTON, THE RETAIL OPERATION BOTH STABILIZES THE ORGANIZATION'S CASH FLOW AND FURTHERS ITS WORK, ENROLLING NEW MEMBERS AND EDUCATING THE PUBLIC ABOUT THE SOCIETY'S MISSION.
TOURS - THE SOCIETY'S FALL TOURS AND CURATED TOUR PROGRAMS OFFER GUIDED HOUSE TOURS, WALKING TOURS, AND EDUCATIONAL PROGRAMS THAT FOCUS ON CHARLESTON'S UNIQUE HISTORY AND ARCHITECTURE. THE SOCIETY HAS REFOCUSED THE PROGRAM TO ENSURE THE LONG-TERM SUSTAINABILITY OF THE TOURS BY MITIGATING THE IMPACTS ON THE BUILDINGS, NEIGHBORHOODS, AND RESIDENTS. BY REDUCING THE SIZE OF THE TOURS AND IMPROVING THE EDUCATIONAL CONTENT, THE SOCIETY DEMONSTRATES THAT QUALITY OVER QUANTITY IS THE BEST PATH FORWARD FOR OUR RESIDENTS AND VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristopher B King Executive Director | Officer | 40 | $128,564 |
Brian Turner President & CEO | Officer | 40 | $100,849 |
David Leckey Interim Director Interim Director | Officer | 40 | $47,376 |
Elizabeth M Hagood Secretary | OfficerTrustee | 2 | $0 |
Elizabeth Kirkland Cahill Betsy Chair | OfficerTrustee | 12 | $0 |
James C Mabry IV Jim Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $69,092 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $772,064 |
| Noncash contributions included in lines 1a–1f | $7,403 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $841,156 |
| Total Program Service Revenue | $381,791 |
| Investment income | $167,430 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,574 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,045,730 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,455,681 |
| 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. | $276,790 |
| Compensation of current officers, directors, key employees. | $83,059 |
| Compensation to disqualified persons | $884,544 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $80,658 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $254,959 |
| Advertising and promotion | $161,391 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $79,933 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,241 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,608 |
| Insurance | $39,487 |
| All other expenses | -$73,845 |
| Total functional expenses | $2,009,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,873,522 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $982,154 |
| 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 | $415,948 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $286,656 |
| Investments—publicly traded securities | $5,636,490 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,000 |
| Total assets | $9,215,770 |
| Accounts payable and accrued expenses | $43,387 |
| 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 | $43,387 |
| Net assets without donor restrictions | $3,796,907 |
| Net assets with donor restrictions | $5,375,476 |
| 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 | $9,215,770 |
Grants Recieved
Over the last fiscal year, we have identified 30 grants that Preservation Society Of Charleston has recieved totaling $364,148.
| Awarding Organization | Amount |
|---|---|
Bessent-Freeman Family Foundation Charleston, SC PURPOSE: GENERAL | $100,000 |
Coastal Community Foundation Of South Carolina Inc N Charleston, SC PURPOSE: EDUCATION GRANT | $64,829 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $40,200 |
Frampton Family Charitable Foundation Avon, CO PURPOSE: CHARITABLE CONTRIBUTION | $33,000 |
Baldwin Foundation New York, NY PURPOSE: REPLACEMENT OF PLAYGROUND | $25,000 |
Elbridge & Evelyn Stuart Foundation 26000118300 Jackson, WY PURPOSE: GENERAL USE | $20,000 |
Endowment Analysis
| Beg. Balance | $3,264,289 |
| Earnings | -$339,192 |
| Other Expense | $126,523 |
| Ending Balance | $2,798,574 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lynnwood Foundation Charlotte, NC | $21,387,443 | $5,860,754 |
Classical American Homes Preservation Trust Hillsborough, NC | $132,123,539 | $8,113,151 |
Historic Columbia Foundation Inc Columbia, SC | $4,152,863 | $4,740,908 |
Georgia Historical Society Savannah, GA | $30,611,121 | $5,575,417 |
Coastal Heritage Society Inc Savannah, GA | $3,223,503 | $3,680,449 |
Coastal Georgia Historical Society Inc St Simons Island, GA | $8,728,661 | $2,039,042 |
Preservation Society Of Charleston Charleston, SC | $9,215,770 | $2,455,681 |
The Historic Preservation Foundation Of North Carolina Inc Raleigh, NC | $8,996,688 | $1,472,217 |
Historic Westville Inc Columbus, GA | $12,453,096 | $665,726 |
Tybee Island Historical Society Inc Tybee Island, GA | $6,056,946 | $1,662,737 |
Tryon Palace Foundation Inc New Bern, NC | $6,143,805 | $1,856,143 |
South Carolina Historical Society Charleston, SC | $11,265,091 | $1,294,164 |