South Carolina Research Foundation

Analysis

South Carolina Research Foundation is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in November 1993, 33 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, South Carolina Research Foundation reported income of $5.8m and spending of $5.7m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $244.6m to $5.8m (-98%), an average of -61% a year. The sharpest change came in the year to June 2022, when income dropped by 96%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, South Carolina Research Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within SC. Charities of a similar size with the same main cause include Northeast Independent Living Services ($5.8m), Mid-Peninsula Education Center Inc ($5.8m) and Sun Valley Ski Education Foundation Inc ($5.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $24k (0.4% of expenses). Other salaries and wages came to $89k. At year end it held assets of $3.1m against liabilities of $2.8m, net assets of $336k.