Folly Beach Tourism and Visitors Promotions Committee INC EIN 20-3272347

Folly Beach Tourism and Visitors Promotions Committee INC

EIN  20-3272347 Business league / trade association Folly Beach, SC
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Size
$100K–1M
What they do
Promotes tourism and visitor experiences for Folly Beach, South Carolina.
Leadership
Carl Hally · Chairman Fro
Money in and out
$592K revenue, $650K expenses
Bottom line
-10% operating surplus

Promotes tourism and visitor experiences for Folly Beach, South Carolina. For fiscal year 2025 it reported $592K in revenue, $650K in expenses, and $427K in net assets.Pt I

Membership & operating revenue · FY2025
Total revenue
$592K
Pt VIII · Ln 12
Total expenses
$650K
Pt IX · Ln 25
Net assets
$427K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$58K
Operating surplus
-10%
revenue over expenses
Earned revenue
100%
of revenue from program services & dues

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total revenue
$592K
Pt VIII · Ln 12
Total expenses
$650K
Pt IX · Ln 25
Net assets
$427K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$58K
Total assetsPt X · Ln 16$442K
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

The organization expended funds to market the city of folly beach and promote tourism. The organization was established by the city for this purpose to assist the city with the oversight of the accommodation tax funds received from the state of SC.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFolly Beach Tourism and Visitors Promotions Committee INC
EINHdr · item D20-3272347
Principal addressHdr · item CFolly Beach, SC
WebsiteHdr · item Jvisitfolly.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MSC
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S41)
Ruling yearIRS BMFAug 2025

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Chairman Fro
$0Pt VII · Sec A
Chairman Ti
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue100%$591K
Investment income$1K
Total revenueLn 12$592K

Balance Sheet

Part X · end of year
CashLn 1$234K
Total assetsLn 16$442K
Total liabilitiesLn 26$15K
Total net assetsLn 32$427K
Months of cash on handcomputed4.3

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $234K · Operating expenses/yr $650K
4.3 months
Where the money goes
Program services
Program services $0 · Total expenses $650K
not reported
Management & General
Management & general $0 · Total expenses $650K
not reported
Fundraising
Fundraising $0 · Total expenses $650K
not reported
Cost to raise $1
Fundraising expense $0 · Solicited contributions $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $592K
0%
Government reliance
Government grants — · Total revenue $592K
Earned-income share
Program service revenue $591K · Total revenue $592K
100%
Investment reliance
Investment income $1K · Total revenue $592K
0%
Program self-sufficiency
Program service revenue $591K · Total expenses $650K
91%
Growth & trend
Revenue growth (YoY)
This year $592K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $427K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $592K · Expenses $650K
-10%
Liabilities-to-Assets
Total liabilities — · Total assets $442K
Net-asset ratio
Net assets $427K · Total assets $442K
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $442K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Carl Hally · Reported title CHAIRMAN FRO · Highest reported compensation $0 · Total expenses $650K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $650K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Overhead ratio 0%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $70K · 2024–2024
City of Folly BeachFY2024$70,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$592K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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