South Carolina Association for Community Economic Development

Analysis

South Carolina Association for Community Economic Development is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in February 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, South Carolina Association for Community Economic Development reported income of $4.1m and spending of $3.4m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $4.1m (+239%), an average of +36% a year. The sharpest change came in the year to December 2022, when income rose by 210%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South Carolina Association for Community Economic Development sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within SC. Charities of a similar size with the same main cause include Plumbers Local 75 Education Fund ($4.1m), Florissant Valley Sheltered Workshop ($4.1m) and The Michigan Womens Foundation ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.9% of the total. Compensation of current officers, directors and key employees was $160k (4.7% of expenses). Other salaries and wages came to $617k. At year end it held assets of $2.7m against liabilities of $935k, net assets of $1.8m. It reported 11 employees.