Form 990 for tax year 2024
Filed by ROCK HILL ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $815,489
- Total expenses
- $226,099
- Contributions and grants received
- $518,880
- Grants paid
- $28,914
- Program service revenue
- $229,121
- Investment income
- $67,488
- Other revenue
- $0
- Total assets, end of year
- $5,712,899
- Total liabilities, end of year
- $650,431
- Net assets or fund balances, end of year
- $5,062,468
- Program services expenses (Part IX)
- $195,023
- Management and general expenses
- $31,076
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $195,023
Program services were 86.3% 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.
-
1e · Government grants (contributions)
$420,061
-
1f · All other contributions, gifts and grants
$98,819
-
2a · Program service revenue: Program Income
total $229,121 · related or exempt $229,121
-
3 · Investment income
total $88,320 · excluded $88,320
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7b · Less cost or other basis and sales expenses
securities $20,832
-
7c · Gain or loss
securities -$20,832
-
7d · Net gain or loss
total -$20,832 · related or exempt -$20,832
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $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 $28,914 · program services $28,914
-
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
-
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 $0
-
11b · Fees: legal
total $16,970 · program services $8,882 · management and general $8,088
-
11c · Fees: accounting
total $19,705 · program services $10,837 · management and general $8,868
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $114,600 · program services $114,600
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $6,102 · program services $5,399 · management and general $703
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $2,100 · program services $2,100
-
23 · Insurance
total $8,436 · program services $4,640 · management and general $3,796
-
24a · Other expenses: Meetings & Retreats
total $17,489 · program services $7,868 · management and general $9,621
-
24b · Other expenses: Property expenses
total $7,535 · program services $7,535
-
24c · Other expenses: Bad Debt
total $4,248 · program services $4,248
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $90,789 · end of year $66,509
-
2 · Savings and temporary cash investments
beginning of year $2,283,692 · end of year $2,921,112
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $34,699 · end of year $24,646
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $2,679,988 · end of year $2,690,724
-
9 · Prepaid expenses and deferred charges
beginning of year $5,811 · end of year $4,125
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $368,892 · end of year $385
-
14 · Intangible assets
beginning of year $7,498 · end of year $5,398
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $3,627 · end of year $428
-
23 · Secured mortgages and notes payable
beginning of year $674,745 · end of year $330,345
-
25 · Other liabilities
beginning of year $319,919 · end of year $319,658
-
27 · Net assets without donor restrictions
beginning of year $4,427,972 · end of year $4,936,008
-
28 · Net assets with donor restrictions
beginning of year $45,106 · end of year $126,460
Mission and programs · 2024
Mission
Rock Hill Development Corporation develops business parks, recruits and supports new businesses to the area, and assists in the revitalization of Rock Hill.
-
Real Estate & Business DevelopmentIncludes the development of business parks and the recruitment and retention of businesses in Rock Hill, South Carolina.
Expenses $162,034 · Grants $17,819
-
Small Business and EntrepreneurshipAdvocate opportunities to improve the success of small businesses including reducing operational barriers, enhancing partnerships, and promoting a holistic ecosystem for small businesses.
Expenses $12,306 · Grants $5,943
-
Placemaking Create amenities to make knowledge park a special, memorable place for residents and visitors.
Expenses $11,786 · Grants $1,270
-
Talent Development & InnovationIncludes the talent pipeline program to connect local employers with skilled interns and employees from local colleges and workforce development initiatives in partnership with local colleges and community resource groups that help improve qualify of life in Rock Hill, South Carolina.
Expenses $8,897 · Grants $3,882
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Robert Alexander
Vice Chair
- Total calculated
- $0
- Hours/week
- 4
-
John Black
Ex Officio
- Total calculated
- $0
- Hours/week
- 4
-
Matt Dosch
Chair
- Total calculated
- $0
- Hours/week
- 4
-
Dean Faile
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Joanne Fockler
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Will Garrison
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Joel Hamilton
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Jerrianne Jackson
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Jack Leitner
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Lester McCorn
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Stacey Moore
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Jim Reno
Ex Officio
- Total calculated
- $0
- Hours/week
- 4
-
Edward Serna
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Justin Smith
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Wes Tuttle
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
David Vehaun
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
John Gettys
Mayor
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Brown
Executive Dir.
- Total calculated
- $0
- Hours/week
- 10
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.
Grants on this return
-
City of Rock Hill
$28,914
Infrastructure
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Old Town Development Corporation
Real Estate · SC · 100% owned · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 2 January 2026
- IRS schema version
- 2024v5.2
- Source object
- 202600139349300045
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