Innovate Anderson
- Assets
- $1.4m
- Revenue
- $158.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Anderson, SC
- Founding
- 03/1994
- Data as of
- 12/2021
- EIN
- 57-0981427
Organization Overview
Innovate Anderson is located in Anderson, SC. The organization was established in 1994. 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. Innovate Anderson is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Innovate Anderson generated $158.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.5%) each year. All expenses for the organization totaled $142.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (20.7%) per year over the past 7 years. 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
TO PROMOTE DEVELOPMENT OF ANDERSON COUNTY SOUTH CAROLINA THROUGH MARKETING, EDUCATION, AND TOURISM FOR THE PURPOSE OF ECONOMIC DEVELOPMENT FOCUSED ON JOB CREATION AND CAPITAL INVESTMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATIONS FOR THE FUTURE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terence V Roberts Chairman | Officer | 1 | $0 |
Mike Wooles Vice Chairma | Officer | 1 | $0 |
Robert Wilson Treasurer | Officer | 1 | $0 |
Matt Harbin Board Of Dir | Trustee | 1 | $0 |
David Mccuen IV Board Of Dir | Trustee | 1 | $0 |
Emily Deroberts Board Of Dir | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,985 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,985 |
| Total Program Service Revenue | $0 |
| Investment income | $25,194 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $114,892 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $158,071 |
| 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. | $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 | $57,740 |
| Fees for services: Accounting | $9,611 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,238 |
| Fees for services: Other | $0 |
| Advertising and promotion | $60,276 |
| Office expenses | $0 |
| Information technology | $634 |
| 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 | $2,096 |
| All other expenses | $0 |
| Total functional expenses | $142,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,696 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,401,834 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,437,530 |
| 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 | $1,437,530 |
| Net assets with donor restrictions | $0 |
| 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 | $1,437,530 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Innovate Anderson has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Anmed Health Anderson, SC PURPOSE: 2017 INVEST COMM SPONSOR | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Charleston Area Convention & Visitors Bureau Charleston, SC | $17,210,458 | $29,781,081 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Waccamaw Economic Opportunity Council Inc Conway, SC | $5,439,118 | $14,126,176 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Coastal Community Action Inc Newport, NC | $6,264,251 | $13,623,681 |
Aiken Barnwell Counties Community Action Agency Inc Aiken, SC | $1,345,575 | $11,151,502 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |