State Agricultural & Mechanical Society of South Carolina

Analysis

State Agricultural & Mechanical Society of South Carolina is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in July 1969, 57 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, State Agricultural & Mechanical Society of South Carolina reported income of $10.7m and spending of $6.1m, leaving 43% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.1m to $10.7m (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2021, when income rose by 910%. Over the whole period it spent 65% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, State Agricultural & Mechanical Society of South Carolina sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 97th percentile within SC. Charities of a similar size with the same main cause include Carolinas Football Club ($10.7m), Lancaster County Agricultural Society Inc ($10.7m) and Reno Air Racings Association Inc ($10.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $255k (4.2% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $28.6m against liabilities of $514k, net assets of $28.1m. It reported 536 employees.