One Sumter Economic Development Foundation INC

Tax-deductible

Americus, GA501(c)(3)Since 2015Community DevelopmentEIN 47-1453325

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Enhancement and promotion of Economic Development, workforce Development, marketing and communications, and transportation efforts in Sumter county, georgia

501(c)(3) charity; gifts are tax-deductible.
5¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
2 of 5
filings with a surplus
Average surplus $9K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
5%
of spending
Concern: 5% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $26K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$132K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.2M
-18% vs prior year
Spent
$6.5M
To programs
5%
Net assets
$423K
By yearFY2020–FY2024
Revenue
$6.2M
FY2024▼ -18%
Revenue by fiscal year
FY2020$337K
FY2021$302K
FY2022$1.1M
FY2023$7.6M
FY2024$6.2M
Expenses
$6.5M
FY2024▼ -20%
Expenses by fiscal year
FY2020$355K
FY2021$199K
FY2022$341K
FY2023$8.1M
FY2024$6.5M
Net assets
$423K
FY2024▼ -39%
Net assets by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.2M
FY2023$692K
FY2024$423K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2015.

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

Where the money goes

5 cents of each dollar spent went to programs.

Program services 5% · $353K Management & general 95% · $6.1M

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

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
See One Sumter Economic Development Foundation INC executive salaries →

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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

Promotes economic, workforce, marketing, and transportation development in Sumter County, Georgia.

Provided by the organization

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3 programs · $353K · in their own filed words · FY2024
01

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.

$198Kprogram expense
02

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.

$138Kprogram expense
03

Leadership development and regional sustainability

$17Kprogram 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
Total grants receivedfrom 1 funder$26K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.2M
Ln 12
Other incomeLn 4–11$6.1M
Gifts and grantsLn 1h$98K
Investment incomeLn 3$460
Money outPt IX
$6.5M
Ln 25
Programscol B$353K
Managementcol C$6.1M
Owns and owesPt X
$423K
net assets · Ln 32
Cash and savingsLn 1–2$408K
Total assetsLn 16$555K
LiabilitiesLn 26$132K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$98K
Noncash giftsLn 1g$49K
Investment incomeLn 3$460
Other incomeLn 4–11$6.1M
Total revenueLn 12$6.2M
Assets in detailPt X, end of year
CashLn 1$408K
Cash and savings togetherLn 1–2$408K
InvestmentsLn 11–13$148K
Total assetsLn 16$555K
LiabilitiesLn 26$132K
Net assetsLn 32$423K
OperationsPt I, VI
EmployeesI 51
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 FY24End FY24
Cash and savingsLn 1–2$322K$408K
InvestmentsLn 11–13$124K$148K
Total assetsLn 16$757K$555K
LiabilitiesLn 26$65K$132K
Net assetsLn 32$692K$423K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$141K$141K
Pension plan contributionsLn 8$1K$1K
Payroll taxesLn 10$7K$7K
Legal feesLn 11b$100$100
Accounting feesLn 11c$22K$22K
Advertising and promotionLn 12$15K$15K
Office expensesLn 13$34K$34K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$6.2M$141K$6.1M
All other expensesLn 24e$14K$14K$277
Total functional expensesLn 25$6.5M$353K$6.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $6.2M$6.5M−$269K$423K 990 PDF
FY2023 $7.6M$8.1M−$489K$692K 990 PDF
FY2022 $1.1M$341K$720K$1.2M 990 PDF
FY2021 $302K$199K$103K$1.4M 990 PDF
FY2020 $337K$355K−$18K$1.4M 990 PDF

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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 FY2024 990 (5 parts)
Part I · Summary $6,211,695 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $63,055$98,475
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,058$460
I-11 Other revenuePrior year $7,546,378$6,112,760
I-12 Total revenuePrior year $7,610,491$6,211,695
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $147,283$149,441
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $7,952,198$6,331,137
I-18 Total expensesPrior year $8,099,481$6,480,578
I-19 Revenue less expensesPrior year −$488,990−$268,883
Part VIII · Statement of revenue $6,211,695 across 6 lines filed
VIII-1f All other contributions, gifts and grants$98,475
VIII-1g Noncash contributions (included above)$49,153
VIII-1h Total contributions, gifts and grants$98,475
VIII-3 Investment incomeExcluded from tax $460$460
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $6,112,760$6,112,760
VIII-12 Total revenueUnrelated business $6,112,760 · Excluded from tax $460$6,211,695
Part IX · Statement of functional expenses $6,480,578 across 10 lines filed
IX-7 Other salaries and wagesPrograms $141,247$141,247
IX-8 Pension plan contributionsPrograms $1,353$1,353
IX-10 Payroll taxesPrograms $6,841$6,841
IX-11b Legal feesManagement $100$100
IX-11c Accounting feesManagement $22,185$22,185
IX-12 Advertising and promotionPrograms $14,801$14,801
IX-13 Office expensesPrograms $33,895$33,895
IX-23 InsuranceManagement $15,897$15,897
IX-24 Other expenses (24a–d)Programs $140,572 · Management $6,089,475$6,230,047
IX-24e All other expensesPrograms $13,935 · Management $277$14,212
IX-25 Total functional expensesPrograms $352,644 · Management $6,127,934 · Fundraising $0$6,480,578
Part X · Balance sheet $555,387 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $321,973$407,692
X-11 Publicly traded securitiesStart of year $2,001$2,019
X-12 Other securitiesStart of year $122,485$145,676
X-16 Total assetsStart of year $757,308$555,387
X-24 Unsecured notes and loans payableStart of year $15,000$10,000
X-25 Other liabilitiesStart of year $50,000$121,962
X-26 Total liabilitiesStart of year $65,000$131,962
X-27 Net assets without donor restrictionsStart of year $381,459$423,425
X-32 Total net assets or fund balancesStart of year $692,308$423,425
X-33 Total liabilities and net assetsStart of year $757,308$555,387
Part XI · Reconciliation of net assets $423,425 net assets at year end
XI-1 Total revenue$6,211,695
XI-2 Total expenses$6,480,578
XI-3 Revenue less expenses−$268,883
XI-4 Net assets at start of year$692,308
XI-10 Net assets at end of year$423,425

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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