Greenville Area Development Corporation
- Assets
- $2.3m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 8
- Location
- Greenville, SC
- Founding
- 09/2002
- Data as of
- 06/2022
- EIN
- 57-1125289
Organization Overview
Greenville Area Development Corporation is located in Greenville, SC. The organization was established in 2002. 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. As of 06/2022, Greenville Area Development Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenville Area Development Corporation 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, Greenville Area Development Corporation generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $4.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Greenville Area Development Corporation has awarded 17 individual grants totaling $3,209,468. 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
PROMOTING AND ENHANCING THE ECONOMIC GROWTH AND DEVELOPMENT OF GREENVILLE COUNTY, SOUTH CAROLINA. GADC WAS FORMED BY GREENVILLE COUNTY COUNCIL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF ECONOMIC DEVELOPMENT IN THE GREENVILLE AREA THROUGH SPECIFIC MARKETING INITIATIVES.
GENERAL PROGRAM COSTS-INCLUDES SALARIES AND RELATED OVERHEAD REQUIRED TO RECRUIT SPECIFIC POTENTIAL BUSINESSES TO THE GREENVILLE AREA AND TO SUPPORT EXPANSION OF EXISTING BUSINESSES.
RETURN OF EXCESS CONTRIBUTIONS TO GREENVILLE COUNTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Farris President | Officer | 40 | $192,260 |
Kevin Landmesser Vice Preside | Officer | 40 | $141,882 |
Justin Bagwell Board Member | Trustee | 1 | $0 |
Jim Burns Board Member | Trustee | 1 | $0 |
Scott Case Board Member | Trustee | 1 | $0 |
Dan Tripp Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,804,197 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $130,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,934,997 |
| Total Program Service Revenue | $0 |
| Investment income | $18,635 |
| 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 | $1,984,050 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,638 |
| 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. | $338,354 |
| Compensation of current officers, directors, key employees. | $67,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $395,744 |
| Pension plan accruals and contributions | $120,519 |
| Other employee benefits | $89,626 |
| Payroll taxes | $49,729 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $174,763 |
| Office expenses | $31,939 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,858 |
| 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 | $52,005 |
| Insurance | $11,086 |
| All other expenses | $0 |
| Total functional expenses | $4,129,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,979 |
| Savings and temporary cash investments | $1,990,190 |
| 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 | $114,555 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,285,724 |
| Accounts payable and accrued expenses | $72,866 |
| 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 | $244,289 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,667 |
| Total liabilities | $323,822 |
| Net assets without donor restrictions | $1,745,624 |
| Net assets with donor restrictions | $216,278 |
| 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 | $2,285,724 |
Grants Awarded
Over the last fiscal year, Greenville Area Development Corporation has awarded $150,638 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
GREENVILLE COUNTY PURPOSE: HANGER IMPROVEMENT | $50,000 |
SCTAC PURPOSE: HANGER IMPROVEMENT | $65,638 |
LUXOR SCIENTIFIC PURPOSE: PROJECT JAY | $10,000 |
DC BLOX PURPOSE: SITE PREP | $25,000 |