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← COASTAL COMMUNITY FOUNDATION OF SOUTH CAROLINA INC

Form 990 for tax year 2023

Filed by COASTAL COMMUNITY FOUNDATION OF SOUTH CAROLINA INC.

Totals

Total revenue
$58,989,034
Total expenses
$32,648,144
Contributions and grants received
$48,111,845
Grants paid
$21,486,764
Program service revenue
$4,371,414
Investment income
$6,607,159
Other revenue
-$101,384
Total assets, end of year
$389,376,801
Total liabilities, end of year
$4,648,030
Net assets or fund balances, end of year
$384,728,771
Program services expenses (Part IX)
$25,989,144
Management and general expenses
$5,644,025
Fundraising expenses
$1,014,975
Program service expenses (Part III)
$25,989,144

Program services were 79.6% 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

    $281,062

  • 1f · All other contributions, gifts and grants

    $47,830,783

  • 1g · Noncash contributions included above

    $4,239,565

  • 2a · Program service revenue: MANAGEMENT FEE INCOME

    total $4,047,390 · related or exempt $4,047,390

  • 2b · Program service revenue: EARNED SERVICES FEES

    total $324,024 · related or exempt $324,024

  • 3 · Investment income

    total $9,705,370 · unrelated business $1,131,863 · excluded $8,573,507

  • 6a · Gross rents

    real property $79,030

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $79,030

  • 6d · Net rental income or loss

    total $79,030 · related or exempt $79,030

  • 7a · Gross sales of assets other than inventory

    securities $60,418,269

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

    securities $63,516,480

  • 7c · Gain or loss

    securities -$3,098,211

  • 7d · Net gain or loss

    total -$3,098,211 · excluded -$3,098,211

  • 8a · Fundraising events: gross income

    $83,699

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

    $281,062

  • 8b · Fundraising events: direct expenses

    $270,166

  • 8c · Net income from fundraising events

    total -$186,467 · excluded -$186,467

  • 11a · Other revenue: OTHER INCOME

    total $6,053 · related or exempt $6,053

  • 11e · Other revenue, total

    $6,053

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,906,929 · program services $20,906,929

  • 2 · Grants to domestic individuals

    total $568,335 · program services $568,335

  • 3 · Grants to foreign organizations and individuals

    total $11,500 · program services $11,500

  • 5 · Compensation of officers, directors and key employees

    total $676,099 · program services $395,489 · management and general $171,855 · fundraising $108,755

  • 7 · Other salaries and wages

    total $2,482,716 · program services $1,452,282 · management and general $631,072 · fundraising $399,362

  • 8 · Pension plan contributions

    total $187,768 · program services $109,836 · management and general $47,728 · fundraising $30,204

  • 9 · Other employee benefits

    total $425,466 · program services $248,879 · management and general $108,148 · fundraising $68,439

  • 10 · Payroll taxes

    total $224,250 · program services $131,177 · management and general $57,001 · fundraising $36,072

  • 11a · Fees: management

    total $3,853,848 · management and general $3,853,848

  • 11f · Fees: investment management

    total $289,200 · management and general $289,200

  • 11g · Fees: other

    total $725,190 · program services $380,365 · management and general $164,159 · fundraising $180,666

  • 12 · Advertising and promotion

    total $147,295 · program services $147,295

  • 13 · Office expenses

    total $58,384 · program services $32,966 · management and general $15,567 · fundraising $9,851

  • 14 · Information technology

    total $304,004 · program services $199,604 · management and general $63,938 · fundraising $40,462

  • 16 · Occupancy

    total $161,680 · program services $92,940 · management and general $42,099 · fundraising $26,641

  • 17 · Travel

    total $49,952 · program services $40,403 · management and general $5,848 · fundraising $3,701

  • 19 · Conferences, conventions and meetings

    total $135,483 · program services $118,466 · management and general $10,699 · fundraising $6,318

  • 22 · Depreciation, depletion and amortization

    total $182,597 · program services $96,434 · management and general $52,769 · fundraising $33,394

  • 23 · Insurance

    total $133,830 · management and general $86,498 · fundraising $47,332

  • 24a · Other expenses: OTHER PROGRAM EXPENSE

    total $856,833 · program services $856,833

  • 24b · Other expenses: CONTRIBUTIONS/SPONSORSH

    total $106,030 · program services $106,030

  • 24c · Other expenses: DEVELOPMENT AND RELOCAT

    total $72,854 · program services $44,281 · management and general $17,499 · fundraising $11,074

  • 24d · Other expenses: GIFTS/RECOGNITION

    total $67,401 · program services $41,503 · management and general $15,861 · fundraising $10,037

  • 24e · All other expenses

    total $20,500 · program services $7,597 · management and general $10,236 · fundraising $2,667

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,592,429 · end of year $735,268

  • 2 · Savings and temporary cash investments

    beginning of year $30,878,830 · end of year $34,857,733

  • 3 · Pledges and grants receivable

    beginning of year $64,288 · end of year $349,249

  • 4 · Accounts receivable

    beginning of year $8,555 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $223,234 · end of year $317,522

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

    $3,857,687

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

    $715,232

  • 10c · Land, buildings and equipment, net

    beginning of year $3,283,158 · end of year $3,142,455

  • 11 · Investments: publicly traded securities

    beginning of year $209,982,416 · end of year $285,614,499

  • 12 · Investments: other securities

    beginning of year $59,942,329 · end of year $62,317,385

  • 13 · Investments: program-related

    beginning of year $2,041,244 · end of year $2,040,707

  • 15 · Other assets

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

  • 17 · Accounts payable and accrued expenses

    beginning of year $128,572 · end of year $162,981

  • 18 · Grants payable

    beginning of year $452,497 · end of year $189,626

  • 19 · Deferred revenue

    beginning of year $25,750 · end of year $13,273

  • 25 · Other liabilities

    beginning of year $3,781,271 · end of year $4,282,150

  • 27 · Net assets without donor restrictions

    beginning of year $321,494,042 · end of year $382,225,446

  • 28 · Net assets with donor restrictions

    beginning of year $2,136,334 · end of year $2,503,325

Mission and programs · 2023

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 $25,989,144 · Grants $21,486,764 · Revenue $4,456,497

  • 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. 2,325 GRANT & SCHOLARSHIP DISBURSEMENTS TOTALING $21,486,764 DURING THE YEAR IN THE FOLLOWING AREAS: 653 GRANTS TOTALING $4,444,788 SUPPORTING HUMAN NEEDS, 746 GRANTS AND SCHOLARSHIPS TOTALING $6,399,517 SUPPORTING EDUCATION, 274 GRANTS TOTALING $3,607,146 SUPPORTING HEALTH INITIATIVES, 214 GRANTS TOTALING $1,351,941 SUPPORTING ENVIRONMENTAL EFFORTS, 168 GRANTS TOTALING $2,287,744 IN SUPPORT OF THE ARTS, 119 GRANTS TOTALING $754,784 IN SUPPORT OF RELIGIOUS PROGRAMS, 80 GRANTS TOTALING $1,079,575 SUPPORTING NEIGHBORHOOD & COMMUNITY DEVELOPMENT, 25 GRANTS TOTALING $795,432 SUPPORTING PHILANTHROPY, AND 46 GRANTS TOTALING $765,837 SUPPORTING SOCIAL JUSTICE PROGRAMS.

  • COMMUNITY LEADERSHIP - WITH A LONG HISTORY OF SERVING AS A TRUSTED COMMUNITY CONVENER, CCF BRINGS TOGETHER AREA RESIDENTS, BUSINESS LEADERS, NON-PROFIT PARTNERS, AND GOVERNMENT TO TACKLE MAJOR COMMUNITY CHALLENGES, SUCH AS HOUSING SHORTAGES, INEQUITABLE SCHOOL SYSTEMS, ECONOMIC MOBILITY, NEIGHBORHOOD REVITALIZATION, AND DISASTER RESPONSE AND RECOVERY THROUGH A VARIETY OF PROGRAMS INCLUDING PLACE-BASED IMPACT INVESTING, ADVOCACY, AND COMMUNITY EDUCATION. IN 2023, CCF JOINED LEADERS FROM ACROSS THE COUNTRY AS AN EXPERT PANELIST AT THE CLEVELAND FEDERAL RESERVE ANNUAL POLICY SUMMIT, WHERE WE SHARED OUR EXPERIENCE LEADING A DISTRICT COHORT OF A NATIONAL FEDERAL RESERVE PROGRAM, "REINVENTING OUR COMMUNITIES". THE EVENT HIGHLIGHTED OUR EFFORTS TO BRING COMMUNITY LEADERS TOGETHER FOR THE CREATION OF AN EQUITABLE AND INCLUSIVE SMALL BUSINESS ECOSYSTEM FOCUSED ON SERVING MINORITY ENTREPRENEURS IN THE LOWCOUNTRY.

  • STRATEGIC INITIATIVES INCLUDE 1) SCHOLARSHIP PROGRAMS OPERATED BY THE FOUNDATION RESULTED IN 246 SCHOLARSHIPS TO 189 STUDENTS TOTALING $855,444. 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 72 OF THESE SCHOLARSHIPS TO 56 STUDENTS IN THE AMOUNT OF $448,693; 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 2023 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

  • Tyeka Grant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ruell L Hicks Jr

    DIRECTOR - THRU 3.24.23

    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

  • 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 - THRU 8.16.23

    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
    $331,501
    From this org
    $292,988
    From related orgs
    $0
    Other
    $38,513
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $280,488
    Bonus
    $12,500
    Other
    $0
    Deferred
    $14,835
    Nontaxable benefits
    $23,678
    Filer's total
    $331,501

  • Melissa Levesque

    CHIEF STRATEGY OFFICER

    Total calculated
    $222,096
    From this org
    $188,073
    From related orgs
    $0
    Other
    $34,023
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $180,573
    Bonus
    $7,500
    Other
    $0
    Deferred
    $9,974
    Nontaxable benefits
    $24,049
    Filer's total
    $222,096

  • Jane Litz

    CFO

    Total calculated
    $224,945
    From this org
    $195,039
    From related orgs
    $0
    Other
    $29,906
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $187,539
    Bonus
    $7,500
    Other
    $0
    Deferred
    $9,921
    Nontaxable benefits
    $19,985
    Filer's total
    $224,945

  • Edith Blakeslee

    VP OF GRANTMAKING

    Total calculated
    $221,398
    From this org
    $205,340
    From related orgs
    $0
    Other
    $16,058
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $105,340
    Bonus
    $100,000
    Other
    $0
    Deferred
    $5,579
    Nontaxable benefits
    $10,479
    Filer's total
    $221,398

  • David Galvin

    VP OF TALENT & OPERATIONS

    Total calculated
    $154,990
    From this org
    $137,879
    From related orgs
    $0
    Other
    $17,111
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $132,879
    Bonus
    $5,000
    Other
    $0
    Deferred
    $6,935
    Nontaxable benefits
    $10,176
    Filer's total
    $154,990

  • Helen Wolfe

    SR DIRECTOR DEVELOPMENT & STEWARDSHIP

    Total calculated
    $131,184
    From this org
    $115,536
    From related orgs
    $0
    Other
    $15,648
    Hours/week
    50

  • Christopher Ballad

    SR DIRECTOR FINANCE & CONTROLLER

    Total calculated
    $149,913
    From this org
    $114,260
    From related orgs
    $0
    Other
    $35,653
    Hours/week
    50

  • Todd Lohrenz

    SR DIRECTOR MARKETING & COMMUNICATIONS

    Total calculated
    $141,245
    From this org
    $104,682
    From related orgs
    $0
    Other
    $36,563
    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 $11,515 · assets $0

    Directly controlled by COASTAL COMMUNITY FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2023
IRS schema version
2023v5.1
Source object
202413169349300136

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

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