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← COASTAL COMMUNITY FOUNDATION OF SOUTH CAROLINA INC

Form 990 for tax year 2022

Filed by COASTAL COMMUNITY FOUNDATION OF SOUTH CAROLINA INC.

Totals

Total revenue
$52,548,075
Total expenses
$15,171,798
Contributions and grants received
$45,843,677
Grants paid
$9,636,071
Program service revenue
$1,892,412
Investment income
$4,828,295
Other revenue
-$16,309
Total assets, end of year
$328,018,466
Total liabilities, end of year
$4,388,090
Net assets or fund balances, end of year
$323,630,376
Program services expenses (Part IX)
$12,157,311
Management and general expenses
$2,513,931
Fundraising expenses
$500,556
Program service expenses (Part III)
$12,157,311

Program services were 80.1% 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.

  • 1c · Fundraising events

    $133,297

  • 1f · All other contributions, gifts and grants

    $45,710,380

  • 1g · Noncash contributions included above

    $5,090,845

  • 2a · Program service revenue: MANAGEMENT FEE INCOME

    total $1,818,900 · related or exempt $1,818,900

  • 2b · Program service revenue: EARNED SERVICES FEES

    total $73,512 · related or exempt $73,512

  • 3 · Investment income

    total $5,195,796 · unrelated business $164,232 · excluded $5,031,564

  • 6a · Gross rents

    real property $38,500

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $38,500

  • 6d · Net rental income or loss

    total $38,500 · related or exempt $38,500

  • 7a · Gross sales of assets other than inventory

    securities $111,850,163

  • 7b · Less cost or other basis and sales expenses

    securities $112,217,664

  • 7c · Gain or loss

    securities -$367,501

  • 7d · Net gain or loss

    total -$367,501 · excluded -$367,501

  • 8a · Fundraising events: gross income

    $19,580

  • 8a · Fundraising events: contributions included on line 1c

    $133,297

  • 8b · Fundraising events: direct expenses

    $74,736

  • 8c · Net income from fundraising events

    total -$55,156 · excluded -$55,156

  • 11a · Other revenue: OTHER INCOME

    total $347 · related or exempt $347

  • 11e · Other revenue, total

    $347

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,896,166 · program services $8,896,166

  • 2 · Grants to domestic individuals

    total $508,505 · program services $508,505

  • 3 · Grants to foreign organizations and individuals

    total $231,400 · program services $231,400

  • 5 · Compensation of officers, directors and key employees

    total $273,758 · program services $149,771 · management and general $76,219 · fundraising $47,768

  • 7 · Other salaries and wages

    total $1,186,008 · program services $648,857 · management and general $330,206 · fundraising $206,945

  • 8 · Pension plan contributions

    total $82,408 · program services $45,085 · management and general $22,944 · fundraising $14,379

  • 9 · Other employee benefits

    total $163,387 · program services $89,388 · management and general $45,490 · fundraising $28,509

  • 10 · Payroll taxes

    total $94,254 · program services $51,566 · management and general $26,242 · fundraising $16,446

  • 11a · Fees: management

    total $1,624,472 · management and general $1,624,472

  • 11f · Fees: investment management

    total $120,936 · management and general $120,936

  • 11g · Fees: other

    total $788,030 · program services $597,588 · management and general $97,162 · fundraising $93,280

  • 12 · Advertising and promotion

    total $18,485 · program services $18,485

  • 13 · Office expenses

    total $40,894 · program services $22,372 · management and general $11,386 · fundraising $7,136

  • 14 · Information technology

    total $103,665 · program services $51,315 · management and general $32,182 · fundraising $20,168

  • 16 · Occupancy

    total $83,600 · program services $47,326 · management and general $22,299 · fundraising $13,975

  • 17 · Travel

    total $44,269 · program services $21,018 · management and general $14,293 · fundraising $8,958

  • 19 · Conferences, conventions and meetings

    total $19,111 · program services $16,322 · management and general $2,789

  • 22 · Depreciation, depletion and amortization

    total $99,707 · program services $49,350 · management and general $30,956 · fundraising $19,401

  • 23 · Insurance

    total $49,126 · program services $5,027 · management and general $35,471 · fundraising $8,628

  • 24a · Other expenses: OTHER PROGRAM EXPENSE

    total $586,126 · program services $586,126

  • 24b · Other expenses: GIFTS/RECOGNITION

    total $53,563 · program services $38,566 · management and general $9,219 · fundraising $5,778

  • 24c · Other expenses: DEVELOPMENT AND RELOCAT

    total $53,355 · program services $43,134 · management and general $6,283 · fundraising $3,938

  • 24d · Other expenses: CONTRIBUTIONS/SPONSORSH

    total $36,909 · program services $36,909

  • 24e · All other expenses

    total $13,664 · program services $3,035 · management and general $5,382 · fundraising $5,247

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,202,050 · end of year $16,693,342

  • 2 · Savings and temporary cash investments

    beginning of year $1,000,009 · end of year $1,002,402

  • 3 · Pledges and grants receivable

    end of year $64,288

  • 4 · Accounts receivable

    beginning of year $7,500 · end of year $8,555

  • 9 · Prepaid expenses and deferred charges

    beginning of year $181,972 · end of year $114,830

  • 10a · Land, buildings and equipment: cost or other basis

    $3,890,028

  • 10b · Land, buildings and equipment: accumulated depreciation

    $606,870

  • 10c · Land, buildings and equipment, net

    beginning of year $3,374,805 · end of year $3,283,158

  • 11 · Investments: publicly traded securities

    beginning of year $220,562,039 · end of year $244,757,930

  • 12 · Investments: other securities

    beginning of year $64,846,246 · end of year $60,050,734

  • 13 · Investments: program-related

    beginning of year $2,072,705 · end of year $2,041,244

  • 15 · Other assets

    beginning of year $86,105 · end of year $1,983

  • 17 · Accounts payable and accrued expenses

    beginning of year $110,351 · end of year $128,572

  • 18 · Grants payable

    beginning of year $20,000 · end of year $452,497

  • 19 · Deferred revenue

    beginning of year $89,262 · end of year $25,750

  • 25 · Other liabilities

    beginning of year $3,866,938 · end of year $3,781,271

  • 27 · Net assets without donor restrictions

    beginning of year $287,067,726 · end of year $321,494,042

  • 28 · Net assets with donor restrictions

    beginning of year $2,179,154 · end of year $2,136,334

Mission and programs · 2022

Mission

THE FOUNDATION'S PURPOSE IS TO HELP CREATE VIBRANT COMMUNITIES BY UNITING PEOPLE AND INVESTING RESOURCES. THE FOUNDATION OFFICIALLY SERVES NINE COASTAL COUNTIES - BEAUFORT, BERKELEY, CHARLESTON, COLLETON, DORCHESTER, GEORGETOWN, HAMPTON, HORRY, AND JASPER. THE FOUNDATION ADMINISTERS MORE THAN 800 INDIVIDUAL FUNDS, EACH ESTABLISHED WITH AN INSTRUMENT OF GIFT DESCRIBING EITHER THE GENERAL OR SPECIFIC PURPOSES FOR WHICH GRANTS ARE TO BE MADE. THE FOUNDATION'S WORK IS CARRIED OUT THROUGH ITS DEVELOPMENT & STEWARDSHIP AND GRANTMAKING & COMMUNITY LEADERSHIP EFFORTS.

Activities or mission (Part I)

CREATE COMMUNITIES RICH IN EQUITY, OPPORTUNITY, AND WELL-BEING BY UNITING PEOPLE AND INVESTING RESOURCES SO THAT ALL COMMUNITY MEMBERS HAVE A PATHWAY TO ACHIEVE THEIR GOALS.

  • DEVELOPMENT & STEWARDSHIP - AS THE LARGEST COMMUNITY FOUNDATION IN SOUTH CAROLINA AND A RECOGNIZED PHILANTHROPIC LEADER IN THE SOUTHEAST, OUR DONOR-FOCUSED PHILOSOPHY PROVIDES A CONSULTATIVE PARTNERSHIP AND BEST-IN-CLASS STEWARDSHIP TO INDIVIDUALS, FAMILIES AND COMPANIES. CCF HAS A PROVEN TRACK RECORD OF TURNING DONORS' BIG IDEAS INTO IMPACTFUL PROGRAMS AND SERVICES THAT NOT ONLY MEET CRITICAL NEEDS BUT PROVIDE SUPPORT FOR IMPORTANT COMMUNITY INITIATIVES NOW AND FOR YEARS TO COME.

    Expenses $12,157,311 · Grants $9,636,071 · Revenue $1,931,259

  • GRANTMAKING - THE FOUNDATION'S STRONG EXPERTISE IN LONG-TERM CHARITABLE GIVING, AS WELL AS EMERGENCY RESPONSE FUNDING, PROVIDES ESSENTIAL OPERATIONAL AND CAPITAL SUPPORT IN OUR NINE-COUNTY SERVICE AREA. 1,546 GRANT & SCHOLARSHIP DISBURSEMENTS TOTALING $9,636,070 DURING THE YEAR IN THE FOLLOWING AREAS: 420 GRANTS TOTALING $2,892,881 SUPPORTING HUMAN NEEDS, 548 GRANTS TOTALING $2,542,434 SUPPORTING EDUCATION, 149 GRANTS TOTALING $788,685 SUPPORTING HEALTH INITIATIVES, 176 GRANTS TOTALING $808,605 SUPPORTING ENVIRONMENTAL EFFORTS, 92 GRANTS TOTALING $1,345,010 IN SUPPORT OF THE ARTS, 76 GRANTS TOTALING $585,960 IN SUPPORT OF RELIGIOUS PROGRAMS, 37 GRANTS TOTALING $338,250 SUPPORTING NEIGHBORHOOD & COMMUNITY DEVELOPMENT, 16 GRANTS TOTALING $208,000 SUPPORTING PHILANTHROPY, AND 32 GRANTS TOTALING $126,245 SUPPORTING SOCIAL JUSTICE PROGRAMS.

  • COMMUNITY LEADERSHIP - WITH A LONG HISTORY OF SERVING AS A TRUSTED COMMUNITY CONVENER, CCF BRINGS TOGETHER AREA RESIDENTS, BUSINESS LEADERS, AND GOVERNMENT TO TACKLE MAJOR COMMUNITY CHALLENGES, SUCH AS HOUSING SHORTAGES, INEQUITABLE SCHOOL SYSTEMS, ECONOMIC RECOVERY, AND NEIGHBORHOOD REVITALIZATION THROUGH A VARIETY OF PROGRAMS INCLUDING PLACE-BASED IMPACT INVESTING, ADVOCACY, COMMUNITY EDUCATION. CCF WAS CHOSED BY THE RICHMOND FEDERAL RESERVE TO LEAD "REINVENTING OUR COMMUNITIES" PROGRAM IN THE CHARLESTON TRI-COUNTY AREA PROVIDING LEADERSHIP AND ADVOCACY FOR A CROSS-SECTOR COHORT OF COMMUNITY LEADERS TO GAIN SKILLS AND CREATE A TAILORED PLAN TO ADDRESS EQUITABLE SMALL BUSINESS RECOVERY AND SUPPORT FOR SMALL BUSINESS OWNERS OF COLOR IN OUR COMMUNITY.

  • STRATEGIC INITIATIVES INCLUDE 1) SCHOLARSHIP PROGRAMS OPERATED BY THE FOUNDATION RESULTED IN 232 SCHOLARSHIPS TO 155 STUDENTS TOTALING $543,800. THE REVEREND PINCKNEY SCHOLARSHIP PROGRAM WHICH INCLUDES AN 18-MONTH COLLEGE-READINESS PROGRAM FOR HIGH SCHOOL STUDENTS IN BEAUFORT, CHARLESTON, COLLETON, HAMPTON AND JASPER COUNTIES, ACCOUNTED FOR 80 OF THESE SCHOLARSHIPS TO 40 STUDENTS IN THE AMOUNT OF $240,000; 2) THE CATALYST GRANT PROGRAM PROVIDES MULTI-YEAR FUNDING TO NONPROFITS IN BEAUFORT, COLLETON, HAMPTON AND JASPER COUNTIES FOR COLLABORATIVE BUILDING, STRATEGIC CAPACITY BUILDING OR COMMUNITY INNOVATION. THIS FUNDING IS MEANT TO SUPPORT MEASURABLE IMPACT THROUGH STRATEGIC PARTNERING, COLLABORATION, AND/OR STRENGTHENING ORGANIZATIONAL CAPACITY WHILE ADDRESSING COMMUNITY NEEDS. PROJECTS OF UP TO FIVE YEARS WILL BE CONSIDERED IF THE PROJECT PERIOD IS WELL JUSTIFIED IN THE PROPOSAL. SELECTED ORGANIZATIONS CAN ALSO RECEIVE TECHNICAL ASSISTANCE FROM A CONSULTANT THROUGHOUT THE TERM OF THE GRANT, WHERE APPROPRIATE.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • RONDA K DEAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILIAM DUNN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GP DIMINICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANTHONY J GHOSTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TYEKA GRANT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RUELL L HICKS JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAUL A KOHLHEIM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CATHERINE C LACOUR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BERNETT W MAZYCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LARRY MERCADO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMIE PHILLIPPE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD H STEWART

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JULIE H WALKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANGIE WASHINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WENDY ZARA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANITA ZUCKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID BUNDY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEROME HARRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARILYN HARRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TJ JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MORGAN MORTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELLIS REGENBOGEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HERBERT L DRAYTON III

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • B SHAWAN GILLIANS

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    4

  • DARRIN GOSS

    CEO

    Total calculated
    $334,197
    From this org
    $295,161
    From related orgs
    $0
    Other
    $39,036
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $270,161
    Bonus
    $25,000
    Other
    $0
    Deferred
    $14,936
    Nontaxable benefits
    $24,100
    Filer's total
    $334,197

  • JANE LITZ

    CFO

    Total calculated
    $215,037
    From this org
    $189,508
    From related orgs
    $0
    Other
    $25,529
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $174,508
    Bonus
    $15,000
    Other
    $0
    Deferred
    $9,111
    Nontaxable benefits
    $16,418
    Filer's total
    $215,037

  • EDITH BLAKESLEE

    VP OF GRANDMAKING

    Total calculated
    $165,821
    From this org
    $139,827
    From related orgs
    $0
    Other
    $25,994
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $127,327
    Bonus
    $12,500
    Other
    $0
    Deferred
    $7,452
    Nontaxable benefits
    $18,542
    Filer's total
    $165,821

  • MELISSA LEVESQUE

    VP OF DEVELOPMENT

    Total calculated
    $203,969
    From this org
    $191,036
    From related orgs
    $0
    Other
    $12,933
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $176,036
    Bonus
    $15,000
    Other
    $0
    Deferred
    $9,589
    Nontaxable benefits
    $3,344
    Filer's total
    $203,969

  • DAVID GALVIN

    VP OF TALENT & OPERATIONS

    Total calculated
    $136,460
    From this org
    $120,087
    From related orgs
    $0
    Other
    $16,373
    Hours/week
    50

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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

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.

  • TCF REALTY LLC

    REAL ESTATE TITLE · SC · income $180,000 · assets $180,000

    Directly controlled by COASTAL COMMUNITY FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313189349315761

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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