Form 990 for tax year 2023
Filed by ROCK HILL ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $651,259
- Total expenses
- $463,244
- Contributions and grants received
- $60,248
- Grants paid
- $375,977
- Program service revenue
- $10,000
- Investment income
- $2,703
- Other revenue
- $578,308
- Total assets, end of year
- $5,254,529
- Total liabilities, end of year
- $1,027,955
- Net assets or fund balances, end of year
- $4,226,574
- Program services expenses (Part IX)
- $415,533
- Management and general expenses
- $47,711
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $415,533
Program services were 89.7% 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.
-
1e · Government grants (contributions)
$26,686
-
1f · All other contributions, gifts and grants
$33,562
-
2a · Program service revenue: Program Income
total $10,000 · related or exempt $10,000
-
3 · Investment income
total $2,703 · excluded $2,703
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $1,700
-
6c · Rental income or loss
real property $1,700
-
6d · Net rental income or loss
total $1,700 · related or exempt $1,700
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$1,039,640
-
10b · Cost of goods sold
$463,032
-
10c · Net income from sales of inventory
total $576,608 · related or exempt $576,608
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $374,294 · program services $374,294
-
2 · Grants to domestic individuals
total $1,683 · program services $1,683
-
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 $14,012 · program services $10,259 · management and general $3,753
-
11c · Fees: accounting
total $15,535 · management and general $15,535
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $26,941 · program services $26,941
-
12 · Advertising and promotion
total $2,850 · management and general $2,850
-
13 · Office expenses
total $879 · management and general $879
-
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 $15,540 · management and general $15,540
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $4,000 · management and general $4,000
-
23 · Insurance
total $5,154 · management and general $5,154
-
24a · Other expenses: Property expenses
total $2,233 · program services $2,233
-
24b · Other expenses: Supplies
total $123 · program services $123
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $313,336 · end of year $387,721
-
2 · Savings and temporary cash investments
beginning of year $2,279,559 · end of year $2,280,125
-
3 · Pledges and grants receivable
beginning of year $27,800 · end of year $15,000
-
4 · Accounts receivable
beginning of year $60,098 · end of year $54,519
-
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 $2,557,058 · end of year $2,134,462
-
9 · Prepaid expenses and deferred charges
beginning of year $3,870 · end of year $5,193
-
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 $386,810 · end of year $377,509
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $13,299 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $119,629 · end of year $362,961
-
19 · Deferred revenue
beginning of year $2,266
-
23 · Secured mortgages and notes payable
beginning of year $1,158,943 · end of year $330,345
-
25 · Other liabilities
beginning of year $312,500 · end of year $334,649
-
27 · Net assets without donor restrictions
beginning of year $3,995,435 · end of year $4,181,568
-
28 · Net assets with donor restrictions
beginning of year $53,057 · end of year $45,006
Mission and programs · 2023
Mission
Rock Hill Development Corporation develops business parks, recruits and supports new businesses to the area, and assists in the revitalization of the greater downtown Rock Hill area.
-
Real Estate & Business DevelopmentIncludes the development of business parks and the recruitment and retention of businesses in Rock Hill, South Carolina
Expenses $351,425
-
Quality of LifeCreate amenities to make knowledge park a special, memorable place for residents and visitors.
Expenses $34,396
-
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.
Expenses $26,261
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Lester McCorn
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Stacey Moore
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Allan Miller
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Anthony Smith
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Brad Hastings
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Brian Vaughan
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Bud Dark
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Chad Williams
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Dan Ballou
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Dave Williams
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
David Vehaun
Sec/Treasurer
- Total calculated
- $0
- Hours/week
- 0
-
David Williams
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Dean Faile
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Greg Austin
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Harold Peeples
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Jim Reno
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Joel Hamilton
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
John Black
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Justin Smith
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Lain Reavis
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Matt Dosch
Chairman
- Total calculated
- $0
- Hours/week
- 0
-
Robert Alexander
Vice Chairman
- Total calculated
- $0
- Hours/week
- 0
-
Ron Roveri
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Ryan Sanderson
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Stephen Schram
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Tim Baldwin
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Toy Rhea
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Wes Tuttle
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Amy Faulkenberry
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Charlotte Brown
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Colleen Coesens
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Dawn Johnson
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Jerrianne Jackson
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Joanne Fockler
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Kerry Mast
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Mari Doroud
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Penny Pratt
Board Member
- Total calculated
- $0
- Hours/week
- 0
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
$374,294
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
- 2023
- Filed
- 12 June 2024
- IRS schema version
- 2023v5.0
- Source object
- 202401649349300715
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