Form 990 for tax year 2024
Filed by ONE SUMTER ECONOMIC DEVELOPMENT FOUNDATION INC.
Totals
- Total revenue
- $6,211,695
- Total expenses
- $6,480,578
- Contributions and grants received
- $98,475
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $460
- Other revenue
- $6,112,760
- Total assets, end of year
- $555,387
- Total liabilities, end of year
- $131,962
- Net assets or fund balances, end of year
- $423,425
- Program services expenses (Part IX)
- $352,644
- Management and general expenses
- $6,127,934
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $352,644
Program services were 5.4% 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
$98,475
-
1g · Noncash contributions included above
$49,153
-
3 · Investment income
total $460 · excluded $460
-
11a · Other revenue: ARPA FUNDS
total $6,046,579 · unrelated business $6,046,579
-
11b · Other revenue: PEARLY BROWN
total $39,095 · unrelated business $39,095
-
11c · Other revenue: HUD FUNDS
total $27,086 · unrelated business $27,086
-
11e · Other revenue, total
$6,112,760
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $141,247 · program services $141,247
-
8 · Pension plan contributions
total $1,353 · program services $1,353
-
10 · Payroll taxes
total $6,841 · program services $6,841
-
11b · Fees: legal
total $100 · management and general $100
-
11c · Fees: accounting
total $22,185 · management and general $22,185
-
12 · Advertising and promotion
total $14,801 · program services $14,801
-
13 · Office expenses
total $33,895 · program services $33,895
-
23 · Insurance
total $15,897 · management and general $15,897
-
24a · Other expenses: UBIT
total $6,089,475 · management and general $6,089,475
-
24b · Other expenses: BAD DEBT
total $73,080 · program services $73,080
-
24c · Other expenses: THIRD CAPITAL CAMPAIGN
total $52,034 · program services $52,034
-
24d · Other expenses: COMM & REGION PARTNERSHIP
total $15,458 · program services $15,458
-
24e · All other expenses
total $14,212 · program services $13,935 · management and general $277
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $321,973 · end of year $407,692
-
3 · Pledges and grants receivable
beginning of year $310,849
-
11 · Investments: publicly traded securities
beginning of year $2,001 · end of year $2,019
-
12 · Investments: other securities
beginning of year $122,485 · end of year $145,676
-
24 · Unsecured notes and loans payable
beginning of year $15,000 · end of year $10,000
-
25 · Other liabilities
beginning of year $50,000 · end of year $121,962
-
27 · Net assets without donor restrictions
beginning of year $381,459 · end of year $423,425
-
28 · Net assets with donor restrictions
beginning of year $310,849
Mission and programs · 2024
Mission
ENHANCEMENT AND PROMOTION OF ECONOMIC DEVELOPMENT, WORKFORCE DEVELOPMENT, MARKETING AND COMMUNICATIONS, AND TRANSPORTATION EFFORTS IN SUMTER COUNTY, GEORGIA
-
ECONOMIC DEVELOPMENT - DEVELOPED AND PROMOTED PROJECTS DESIGNED TO ENHANCE ECONOMIC DEVELOPMENT, ENCOURAGE NEW BUSINESS GROWTH AND DOWNTOWN REDEVELOPMENT IN SUMTER COUNTY AND THE MUNICIPALITIES THEREIN BY SUPPORTING NEXT SITE CONSULTING, COMMUNITY & REGIONAL PARTNERSHIPS, AND GROW 2024 CAPITAL CAMPAIGN.
Expenses $137,816
-
WORKFORCE DEVELOPMENT - WORKED CLOSELY WITH BUSINESS AND EDUCATION LEADERS IN SUMTER COUNTY TO ENABLE OUR FUTURE WORKFORCE TO HAVE A GREATER OPPORTUNITY TO DEVELOP THEIR TALENTS AND BE BETTER EQUIPPED TO BECOME PRODUCTIVE MEMBERS IN THE COMMUNITY BY SUPPORTING THE COLLEGE AND CAREER ACADEMY AND LOCATE SOUTH GA LEADS.
Expenses $197,750
-
LEADERSHIP DEVELOPMENT AND REGIONAL SUSTAINABILITY
Expenses $17,078
-
- PROVIDED ADMINISTRATIVE SUPPORT FOR THE INGNIT COLLEGE AND CARRER ACADEMY, THE GROWTH 2024 CAMPAIGN, THE STOCK PHOTOGRAPHY LIBRARY, WEBSIT REDESIGN, PARTNERSHIP WITH SOUTH GEORGIA LEADS REGIONAL LEADERSHIP DEVELOPMENT PROGRAM BY SPONSORING A SOUTH GEORGIA REPRESENTATIVE, AND ESTABLISHED A CENSUS COMPLETE COUNT COMMITTEE
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mary Beth BrownleeMARY BETH BROWNLEE
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Katherine CouncilKATHERINE COUNCIL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Bill Harris JrBILL HARRIS JR
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Dr Alex RiccardiDR ALEX RICCARDI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Alex SaratsiotisALEX SARATSIOTIS
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Rene SmithRENE SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Lewis WebbLEWIS WEBB
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 29 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202533099349301403
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