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Nonprofiteer
← SC LAUNCH INC

Form 990 for tax year 2023

Filed by SC LAUNCH INC.

Totals

Total revenue
$1,288,656
Total expenses
$2,083,705
Contributions and grants received
$250,000
Grants paid
$0
Program service revenue
$0
Investment income
$1,038,656
Other revenue
$0
Total assets, end of year
$37,113,760
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$37,113,760
Program services expenses (Part IX)
$2,009,411
Management and general expenses
$74,294
Fundraising expenses
$0
Program service expenses (Part III)
$2,009,411

Program services were 96.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • MATTHEW BELL

    EXECUTIVE DIRECTOR

    Total calculated
    $236,189
    From this org
    $0
    From related orgs
    $204,426
    Other
    $31,763
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $188,549 related
    Bonus
    $0 + $11,344 related
    Other
    $0 + $4,533 related
    Deferred
    $0 + $13,490 related
    Nontaxable benefits
    $0 + $18,273 related
    Filer's total
    $0 + $236,189 related

  • LAURA TERRY

    TREASURER

    Total calculated
    $133,403
    From this org
    $0
    From related orgs
    $113,522
    Other
    $19,881
    Hours/week
    5 + 35 related

  • TERESA HINSON

    SECRETARY

    Total calculated
    $89,024
    From this org
    $0
    From related orgs
    $82,013
    Other
    $7,011
    Hours/week
    5 + 35 related

  • ANDREA MARSHALL

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1.5 + 1.5 related

  • PATTI LEAHY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • PATRICK SPRINGHART MD

    DIRECTOR (ENDED 5/15/24)

    Total calculated
    $0
    Hours/week
    1.5

  • STEPHEN K WIGGINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • JULIANA IAROSSI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • CLIFFORD HOLEKAMP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • ROBERT CRUTCHFIELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • KAREN R JENKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • JON-MICHIAL CARTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • DEREK PEDERSON

    DIRECTOR (Began 5/15/24)

    Total calculated
    $0
    Hours/week
    1.5

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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3:
COMPENSATION FOR SC LAUNCH OFFICERS IS DETERMINED BY THE SOUTH CAROLINA RESEARCH AUTHORITY (SCRA), A RELATED ORGANIZATION WHO PROVIDES SERVICES TO SC LAUNCH. COMPENSATION FOR SCRA'S EMPLOYEES, INCLUDING THAT OF OFFICERS AND KEY EMPLOYEES, IS SET BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES (THE GOVERNING BODY FOR SCRA) AS RECOMMENDED BY THE SCRA AUDIT & FINANCE COMMITTEE.

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.

  • SCRA

    501(C)(3) · R&D INV. · SC

    Directly controlled by NA

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.

Provenance

Return type
form_990
Tax year
2023
Filed
7 March 2025
IRS schema version
2023v6.0
Source object
202540729349300004

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