Totals
- Total revenue
- $3,205,150
- Total expenses
- $2,112,235
- Contributions and grants received
- $500,000
- Grants paid
- $2,000,000
- Program service revenue
- $0
- Investment income
- $2,705,150
- Other revenue
- $0
- Total assets, end of year
- $13,860,401
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $13,860,401
- Program services expenses (Part IX)
- $2,076,583
- Management and general expenses
- $35,652
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,076,583
Program services were 98.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$500,000
-
3 · Investment income
total $287,514 · excluded $287,514
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $284,025 · other assets $2,440,453
-
7b · Less cost or other basis and sales expenses
securities $306,842
-
7c · Gain or loss
securities -$22,817 · other assets $2,440,453
-
7d · Net gain or loss
total $2,417,636 · unrelated business $29,361 · excluded $2,388,275
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,000,000 · program services $2,000,000
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0 · program services $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $6,481 · management and general $6,481
-
11b · Fees: legal
total $39,624 · program services $39,624
-
11c · Fees: accounting
total $29,171 · management and general $29,171
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $268 · program services $268
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $13,032 · program services $13,032
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $3,080 · program services $3,080
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $18,855 · program services $18,855
-
24a · Other expenses: RECRUITMENT
total $1,724 · program services $1,724
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,417,814 · end of year $179,716
-
2 · Savings and temporary cash investments
beginning of year $95,962 · end of year $1,365,017
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $28,956 · end of year $35,868
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $293,649 · end of year $316,446
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $6,259,182 · end of year $7,062,673
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $4,887,488 · end of year $4,900,681
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $0 · end of year $0
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $12,983,051 · end of year $13,860,401
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $0 · end of year $0
Mission and programs · 2022
Mission
FUEL SOUTH CAROLINAS INNOVATION ECONOMY BY ACCELERATING TECHNOLOGY-ENABLED GROWTH IN RESEARCH, ACADEMIA, ENTREPRENEURSHIP AND INDUSTRY.
Activities or mission (Part I)
FUEL SOUTH CAROLINA'S INNOVATION ECONOMY BY ACCELERATING TECHNOLOGY-ENABLED GROWTH IN RESEARCH, ACADEMIA, ENTREPRENEURSHIP AND INDUSTRY.
-
PROVIDING EQUITY INVESTMENTS AND CONVERTIBLE DEBENTURE FUNDING TO TECHNOLOGY-RELATED EARLY-STAGE BUSINESSES TO FOSTER ECONOMIC GROWTH AND JOB CREATION AS A SUPPORTING ORGANIZATION OF THE SOUTH CAROLINA RESEARCH AUTHORITY.
Expenses $2,076,583 · Grants $2,000,000
As filed on the 2022 return.
Listed in Part VII
-
John E SircyJOHN E SIRCY
TREASURER
- Total calculated
- $222,754
- From this org
- $0
- From related orgs
- $191,757
- Other
- $30,997
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $0 + $170,636 related
- Bonus
- $0 + $12,845 related
- Other
- $0 + $8,276 related
- Deferred
- $0 + $14,986 related
- Nontaxable benefits
- $0 + $16,011 related
- Filer's total
- $0 + $222,754 related
-
Matthew BellMATTHEW BELL
EXECUTIVE DIRECTOR
- Total calculated
- $221,672
- From this org
- $0
- From related orgs
- $196,411
- Other
- $25,261
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $178,626 related
- Bonus
- $0 + $13,271 related
- Other
- $0 + $4,514 related
- Deferred
- $0 + $12,772 related
- Nontaxable benefits
- $0 + $12,489 related
- Filer's total
- $0 + $221,672 related
-
Teresa HinsonTERESA HINSON
SECRETARY
- Total calculated
- $84,230
- From this org
- $0
- From related orgs
- $77,924
- Other
- $6,306
- Hours/week
- 5 + 35 related
-
Peter G DunphyPETER G DUNPHY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1.5 + 1.5 related
-
Andrea MarshallANDREA MARSHALL
VICE CHAIR / Chairman
- Total calculated
- $0
- Hours/week
- 1.5 + 1.5 related
-
Timothy E DavisTIMOTHY E DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
Clifford HolekampCLIFFORD HOLEKAMP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
Juliana IarossiJULIANA IAROSSI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
Patti LeahyPATTI LEAHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
W Patrick SpringhartW PATRICK SPRINGHART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
T Stephen ThompsonT STEPHEN THOMPSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
Stephen K WigginsSTEPHEN K WIGGINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
John-Michial Carter
director
- Total calculated
- $0
- Hours/week
- 1.5
-
Bob Crutchfield
Director
- Total calculated
- $0
- Hours/week
- 1.5
-
Laura TerryLAURA TERRY
TREASURER
- Total calculated
- $0
- Hours/week
- 5 + 35 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- SCHEDULE J, PART I, LINE 3:
- COMPENSATION FOR SC LAUNCH OFFICERS IS DETERMINED BY THE SOUTH CAROLINA RESEARCH AUTHORITY (SCRA), A RELATED ORGANIZATION WHO PROVIDES SERVICES TO SC LAUNCH. COMPENSATION FOR SCRA'S EMPLOYEES, INCLUDING THAT OF OFFICERS AND KEY EMPLOYEES, IS SET BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES (THE GOVERNING BODY FOR SCRA) AS RECOMMENDED BY THE SCRA AUDIT & FINANCE COMMITTEE.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
TESTED HQ LLC
$300,000
Investment
-
CARBON CENTS INC
$250,000
Investment
-
HERON FARMS INC
$250,000
Investment
-
NEW FORGE LLC
$250,000
Investment
-
RUFFIAN SOFTWARE
$250,000
Investment
-
SCOPESTACK CORP
$250,000
Investment
-
VIRTUE TECHNOLOGIES
$250,000
Investment
-
MITOCHEM THERAPEUTICS INC
$200,000
Investment
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · R&D INV. · SC
Directly controlled by NA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
STAGE 2 CAPITAL ASSOCIATES LLC
INVESTMENTS · SC · income $0 · assets $4,894,781
Directly controlled by SC LAUNCH
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 11 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202410729349300716
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.