philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Regenesis Community Developement Corporation FY2020 filing

Tax-deductible

Spartanburg, SC501(c)(3)HousingEIN 20-0726974Revenue $42K in FY2020

On file with the IRSrcdc.usPo Box 5701, 29304-5701 · Spartanburg, SCTax-exempt since Oct 2004Publicly supported charity — 170(b)(1)(A)(vi)

This page gets seen. Tell your story. Claim this org.

This Corporation is organized as a non-profit organization which will operate exclusively for charitable purposes; including but not limited to directly and indirectly, to develop, own, manage, buy and sell affordable housing in and around the city of spartanburg. A. To improve communities in and around the city of spartanburg by providing safe and affordable housing and a suitable living environment, principally for persons of low to very low incomes. B. To conduct and support activities that will expand and promote economic opportunities, Community development and Community revitalization, principally for persons of low to very low incomes. C. To combat Community deterioration through residential development and revitalization, commercial development and revitalization, economic development, and historic preservation. D. To support conduct such other and further activities that may promote housing, economic development, neighborhood revitalization, historic preservation, and communit

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$1K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $52K a year · 63% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $650K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
62% of total assets
Fine: liabilities are 62% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$42K
Spent
$87K
To programs
89%
Net assets
$735K
By yearFY2020–FY2024
Revenue
$42K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$42K
FY2021$59K
FY2022$70K
FY2023$106K
FY2024$134K
Expenses
$87K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$87K
FY2021$120K
FY2022$159K
FY2023$158K
FY2024$146K
Net assets
$735K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$735K
FY2021$674K
FY2022$584K
FY2023$533K
FY2024$447K

From the FY2020 Form 990 · see the original

Give Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $78K Management & general 10% · $9K Fundraising 1% · $792

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

6 people listed on the 990; $1K paid to officers and key staff.

Part VII, Section A · reportable compensation
Harold Mitchell
Executive Di
$1,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rod Tullis
Director
$0Pt VII · Sec A

Harold Mitchell’s $1K as Executive Di is at the 1st percentile of top reported officer pay among 852 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Regenesis Community Developement Corporation executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops, owns, and sells affordable housing to improve communities and create economic opportunities.

Questions for Regenesis Community Developement Corporation

Tap to ask. Regenesis Community Developement Corporation sees how many people are interested.

Your first name shows with your question. Regenesis Community Developement Corporation answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $78K · in their own filed words · FY2020
01

Counseled new homeowners about homeownership. Rented 10 units of housing to low-income tenants, 5 of which are under lease purchase options.

$78Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Tomkat FoundationFY2024$650K
Total grants receivedfrom 1 funder$650K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$42K
Ln 12
Fees for servicesLn 2g$41K
Investment incomeLn 3$2K
Gifts and grantsLn 1h$50
Money outPt IX
$87K
Ln 25
Programscol B$78K
Managementcol C$9K
Fundraisingcol D$792
Owns and owesPt X
$735K
net assets · Ln 32
Cash and savingsLn 1–2$70K
Total assetsLn 16$1.9M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$50
Fees for servicesLn 2g$41K
Investment incomeLn 3$2K
Total revenueLn 12$42K
Assets in detailPt X, end of year
CashLn 1$70K
Cash and savings togetherLn 1–2$70K
Land, buildings, equipmentLn 10c$567K
Total assetsLn 16$1.9M
LiabilitiesLn 26$1.2M
Net assetsLn 32$735K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$61K$70K
Land, buildings, equipmentLn 10c$584K$567K
Total assetsLn 16$2.0M$1.9M
LiabilitiesLn 26$1.1M$1.2M
Net assetsLn 32$809K$735K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$20K$19K$610$407
Payroll taxesLn 10$2K$1K$47$31
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$5K$3K$3K
Other fees for servicesLn 11g$6K$6K
Office expensesLn 13$3K$1K$1K
OccupancyLn 16$15K$12K$3K$304
Conferences, conventions and meetingsLn 19$119$119
InterestLn 20$698$698
Depreciation, depletion and amortizationLn 22$17K$17K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$9K$8K$1K$50
Total functional expensesLn 25$87K$78K$9K$792

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $134K$146K−$12K$447K 990 PDF
FY2023 $106K$158K−$51K$533K 990 PDF
FY2022 $70K$159K−$90K$584K 990 PDF
FY2021 $59K$120K−$61K$674K 990 PDF
FY2020 Viewing $42K$87K−$45K$735K 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $42,323 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $97$50
I-9 Program service revenuePrior year $149,788$40,510
I-10 Investment incomePrior year $2,317$1,763
I-11 Other revenue$0
I-12 Total revenuePrior year $152,202$42,323
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $71,952$21,896
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $102,599$65,092
I-18 Total expensesPrior year $174,551$86,988
I-19 Revenue less expensesPrior year −$22,349−$44,665
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $42,323 across 5 lines filed
VIII-1f All other contributions, gifts and grants$50
VIII-1h Total contributions, gifts and grants$50
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $40,510$40,510
VIII-3 Investment incomeExcluded from tax $1,763$1,763
VIII-12 Total revenueRelated to mission $40,510 · Excluded from tax $1,763$42,323
Part IX · Statement of functional expenses $86,988 across 12 lines filed
IX-7 Other salaries and wagesPrograms $19,323 · Management $610 · Fundraising $407$20,340
IX-10 Payroll taxesPrograms $1,478 · Management $47 · Fundraising $31$1,556
IX-11b Legal feesPrograms $1,000$1,000
IX-11c Accounting feesPrograms $2,650 · Management $2,650$5,300
IX-11g Other fees for servicesPrograms $6,270$6,270
IX-13 Office expensesPrograms $1,373 · Management $1,374$2,747
IX-16 OccupancyPrograms $12,160 · Management $2,736 · Fundraising $304$15,200
IX-19 Conferences, conventions and meetingsPrograms $119$119
IX-20 InterestPrograms $698$698
IX-22 Depreciation, depletion and amortizationPrograms $17,293$17,293
IX-23 InsurancePrograms $7,567$7,567
IX-24 Other expenses (24a–d)Programs $7,624 · Management $1,224 · Fundraising $50$8,898
IX-25 Total functional expensesPrograms $77,555 · Management $8,641 · Fundraising $792$86,988
Part X · Balance sheet $1,918,333 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $60,966$70,065
X-4 Accounts receivableStart of year $655,897$654,986
X-8 Inventories for sale or useStart of year $624,032$624,032
X-9 Prepaid expenses and deferred chargesStart of year $2,250$2,250
X-10c Land, buildings and equipment, netStart of year $584,293$567,000
X-16 Total assetsStart of year $1,957,499$1,918,333
X-17 Accounts payable and accrued expensesStart of year $77,587$72,891
X-25 Other liabilitiesStart of year $287,697$305,407
X-26 Total liabilitiesStart of year $1,148,241$1,183,801
X-27 Net assets without donor restrictionsStart of year $809,258$734,532
X-32 Total net assets or fund balancesStart of year $809,258$734,532
X-33 Total liabilities and net assetsStart of year $1,957,499$1,918,333
Part XI · Reconciliation of net assets $734,532 net assets at year end
XI-1 Total revenue$42,323
XI-2 Total expenses$86,988
XI-3 Revenue less expenses−$44,665
XI-4 Net assets at start of year$809,258
XI-8 Prior period adjustments−$30,061
XI-10 Net assets at end of year$734,532

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.