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Nonprofiteer
← CCL FARM CONSERVATION INC

Form 990 for tax year 2024

Filed by CCL FARM CONSERVATION INC.

Totals

Total revenue
$35,732
Total expenses
$163,753
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$30,000
Investment income
$5,732
Other revenue
$0
Total assets, end of year
$4,802,213
Total liabilities, end of year
$4,068,515
Net assets or fund balances, end of year
$733,698
Program services expenses (Part IX)
$153,466
Management and general expenses
$10,287
Fundraising expenses
$0
Program service expenses (Part III)
$153,466

Program services were 93.7% 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.

  • 2a · Program service revenue: Lease income

    total $30,000 · related or exempt $30,000

  • 3 · Investment income

    total $4,161 · excluded $4,161

  • 7a · Gross sales of assets other than inventory

    securities $75,162

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

    securities $73,591

  • 7c · Gain or loss

    securities $1,571

  • 7d · Net gain or loss

    total $1,571 · excluded $1,571

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,787 · management and general $2,787

  • 16 · Occupancy

    total $40,000 · program services $40,000

  • 20 · Interest

    total $7,500 · management and general $7,500

  • 22 · Depreciation, depletion and amortization

    total $113,466 · program services $113,466

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $68,409 · end of year $59,658

  • 2 · Savings and temporary cash investments

    beginning of year $219,017

  • 4 · Accounts receivable

    beginning of year $7,500

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

    $4,842,517

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

    $309,318

  • 10c · Land, buildings and equipment, net

    beginning of year $4,646,665 · end of year $4,533,199

  • 11 · Investments: publicly traded securities

    beginning of year $73,591 · end of year $0

  • 14 · Intangible assets

    beginning of year $216,856 · end of year $209,356

  • 17 · Accounts payable and accrued expenses

    beginning of year $370,319 · end of year $68,515

  • 23 · Secured mortgages and notes payable

    beginning of year $4,000,000 · end of year $4,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $861,719 · end of year $733,698

Mission and programs · 2024

Mission

CCL Farm Conservation, Inc. is organized and shall at all times be operated to benefit and support South Carolina Coastal Conservation League, Inc. (CCL).

Activities or mission (Part I)

CCL Farm Conservation, Inc. is organized and shall at all times be operated to benefit and support South Carolina Coastal Conservatio League, Inc. (CCL).

  • The Organization will assist the South Carolina Coastal Conservation League (CCL) in its programs and services by undertaking the (a) acquisition of a leasehold interest in certain real property located at 1814 Harmon Street, Charleston, South Carolina 29403 (Land), including the new food hub facility constructed and developed by CCL on the land (Facility) and (b) leasing of the Land and the Facility to CCL for operating (collectively, (a) and (b) are referred to as, the Project). The activities of the Organization will be funded through its participation as a qualified low-income community business as defined under Section 45D of the Internal Revenue Code (Code) and as a borrower in a new market tax credit (NMTC) transaction. (Continued on Sch. O)The Corporation obtained a loan from TCDE 104, LLC, a Georgia limited liability company (CDE) to finance a portion of the acquisition of the Land and Facility. CCL will lease the Land and Facility to the Organization for a term of 99 years pursuant to a Ground Lease Agreement between CCL, as ground lessor, and the Organization, as a gournd leasee (Ground Lease). Pursuant to the Ground Lease and a Reimbursement and Contribution Agreement between CCL and the Organization, the Organization will reimburse CCL for a portion of the costs to purchase and construct the Land and Facility (Development Costs), and CCL will make a contribution in-kind to the Organization of the remaining Development Costs. The Organization will lease the Land and Facility to CCL for a term of 30-years pursuant to an Operating Lease Agreement between the Organization, as lessor, and CCL, as lessee. The Organization's Board of Directors will conduct the activities of the Organization. The activities of the Organization will be ongoing to assist with the food programs of CCL. The activities of the Organization will allocate all of its time promoting and assisting CCL in accordance with its exempt purpose. The Project will provide a much-needed food hub facility in Charleston, South Carolina. The NMTC financing utilized by the Organization will enable CCL to raise additional capital for its food programs at the Facility.

    Expenses $153,466 · Revenue $30,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert Griffin

    Chair

    Total calculated
    $0
    Hours/week
    0

  • William Brenizer

    Director

    Total calculated
    $0
    Hours/week
    0

  • Sally Webb

    Director

    Total calculated
    $0
    Hours/week
    0

  • Richard R Schmaltz

    Director

    Total calculated
    $0
    Hours/week
    0

  • Faith Rivers James

    Director

    Total calculated
    $232,931
    From this org
    $0
    From related orgs
    $211,672
    Other
    $21,259
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,672 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,970 related
    Nontaxable benefits
    $0 + $8,289 related
    Filer's total
    $0 + $232,931 related

  • Joel Sandstrom

    Chief Financial Officer

    Total calculated
    $75,943
    From this org
    $0
    From related orgs
    $67,890
    Other
    $8,053
    Hours/week
    1 + 50 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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 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

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
30 March 2026
IRS schema version
2024v5.5
Source object
202640909349301014

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