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← SC CHAMBER EDUCATION AND WORKFORCE DEVELOPMENT FOUNDATION

Form 990 for tax year 2022

Filed by SC CHAMBER EDUCATION AND WORKFORCE DEVELOPMENT FOUNDATION.

Totals

Total revenue
$278,618
Total expenses
$311,962
Contributions and grants received
$225,839
Grants paid
$12,000
Program service revenue
$6,525
Investment income
$46,254
Other revenue
$0
Total assets, end of year
$1,982,658
Total liabilities, end of year
$391,783
Net assets or fund balances, end of year
$1,590,875
Program services expenses (Part IX)
$301,927
Management and general expenses
$10,035
Fundraising expenses
$0
Program service expenses (Part III)
$301,927

Program services were 96.8% 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.

  • 1f · All other contributions, gifts and grants

    $225,839

  • 2a · Program service revenue: REGISTRATION FEES

    total $6,525 · related or exempt $6,525

  • 3 · Investment income

    total $73,123 · excluded $73,123

  • 7a · Gross sales of assets other than inventory

    securities $656,982

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

    securities $683,851

  • 7c · Gain or loss

    securities -$26,869

  • 7d · Net gain or loss

    total -$26,869 · excluded -$26,869

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $12,000 · program services $12,000

  • 11f · Fees: investment management

    total $10,035 · management and general $10,035

  • 11g · Fees: other

    total $8,874 · program services $8,874

  • 12 · Advertising and promotion

    total $25,053 · program services $25,053

  • 13 · Office expenses

    total $10,201 · program services $10,201

  • 16 · Occupancy

    total $116,950 · program services $116,950

  • 17 · Travel

    total $6,117 · program services $6,117

  • 22 · Depreciation, depletion and amortization

    total $2,517 · program services $2,517

  • 23 · Insurance

    total $2,563 · program services $2,563

  • 24a · Other expenses: STUDIES SCEPF

    total $47,500 · program services $47,500

  • 24b · Other expenses: ADMINISTRATIVE FEES

    total $32,720 · program services $32,720

  • 24c · Other expenses: TUTORING AND INCENTIVES

    total $20,762 · program services $20,762

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $16,670 · program services $16,670

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $472,964 · end of year $415,636

  • 4 · Accounts receivable

    beginning of year $5,000 · end of year $0

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

    $8,377

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

    $5,654

  • 10c · Land, buildings and equipment, net

    beginning of year $5,241 · end of year $2,723

  • 12 · Investments: other securities

    beginning of year $1,430,654 · end of year $1,564,299

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,054 · end of year $0

  • 19 · Deferred revenue

    beginning of year $385,391 · end of year $391,783

  • 27 · Net assets without donor restrictions

    end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $1,526,414 · end of year $1,590,875

Mission and programs · 2022

Mission

THE FOUNDATION'S EDUCATION WORKFORCE AND DIVERSITY INTERESTS ARE BROAD. IT SEEKS TO PROMOTE COLLABORATION AMONG A WIDE RANGE OF STAKEHOLDERS- SCHOOL STAFF (PRE-SCHOOL THROUGH HIGHER EDUCATION), FAMILIES, COMMUNITY ORGANIZATIONS, AGENCIES, AND BUSINESSES. THE FOUNDATION SEEKS TO FURTHER ITS INTERESTS THROUGH A CAREFULLY CONSIDERED IDENTIFICATION AND SUBSEQUENT FUNDING OF WORTHY ACTIVITIES, RESEARCH STUDIES, AND PROJECTS. IT IS AUTHORIZED BY ITS BY-LAWS TO ENGAGE IN ACTIVITIES THAT ARE DESIGNED TO ENHANCE PUBLIC EDUCATION, WORKFORCE DEVELOPMENT AND DIVERSITY INCLUSION.

Activities or mission (Part I)

ENGAGE IN ACTIVITIES THAT ARE DESIGNED TO ENHANCE PUBLIC EDUCATION, WORKFORCE DEVELOPMENT AND DIVERSITY INCLUSION.

  • THE FOUNDATION'S EDUCATION WORKFORCE AND DIVERSITY INTERESTS ARE BROAD. IT SEEKS TO PROMOTE COLLABORATION AMONG A WIDE RANGE OF STAKEHOLDERS- SCHOOL STAFF (PRE-SCHOOL THROUGH HIGHER EDUCATION), FAMILIES, COMMUNITY ORGANIZATIONS, AGENCIES, AND BUSINESSES. THE FOUNDATION SEEKS TO FURTHER ITS INTERESTS THROUGH A CAREFULLY CONSIDERED IDENTIFICATION AND SUBSEQUENT FUNDING OF WORTHY ACTIVITIES, RESEARCH STUDIES, AND PROJECTS. IT IS AUTHORIZED BY ITS BY-LAWS TO ENGAGE IN ACTIVITIES THAT ARE DESIGNED TO ENHANCE PUBLIC EDUCATION, WORKFORCE DEVELOPMENT AND DIVERSITY INCLUSION.

    Expenses $301,927 · Grants $12,000 · Revenue $6,525

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

Listed in Part VII

  • Robert G Morgan

    PRESIDENT & CEO

    Total calculated
    $264,346
    From this org
    $0
    From related orgs
    $264,346
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $234,346 related
    Bonus
    $0 + $30,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $264,346 related

  • Michael Brenan

    INTERIM PRESIDENT AND CEO

    Total calculated
    $0
    Hours/week
    1

  • Kathy Dudley Helms

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Todd Hyneman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Bennett

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lessie Price

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Cynthia Walters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Trey Simon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

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
2022
Filed
12 July 2024
IRS schema version
2022v5.0
Source object
202411989349300906

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