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Colleton Development Corporation INC FY2022 filing

Tax-deductible

Walterboro, SC501(c)(3)Community DevelopmentEIN 57-0662516Revenue $132K in FY2022

On file with the IRScceainc.com403 E Washington St Ste B, 29488-4088 · Walterboro, SCTax-exempt since Sep 2023Publicly supported charity — 170(b)(1)(A)(vi)

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Is to manage the economic growth of Colleton county through new and expanding manufacturing distribution, aviation, and healthcare investments which create quality jobs, improve per capita income, and broaden the tax base.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$783
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$132K
Spent
$170K
To programs
79%
Net assets
$99K
By yearFY2022–FY2025
Revenue
$132K
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$132K
FY2023$122K
FY2024$133K
FY2025$137K
Net assets
$99K
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$99K
FY2023$119K
FY2024$69K
FY2025$81K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Sep 2023.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $134K Management & general 21% · $36K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Heyward Horton
Executive Director
$0Pt VII · Sec A
Donna Lamb
Executive Assistant
$0Pt VII · Sec A
Jason Dandridge
Board Member
$0Pt VII · Sec A
Franklin Foster
Board Member
$0Pt VII · Sec A
Jimmy Hiott
Board Member
$0Pt VII · Sec A
Todd Litchfield
Board Member
$0Pt VII · Sec A
Robert Mixon
Board Member
$0Pt VII · Sec A
Lee Petrolawicz
Board Member
$0Pt VII · Sec A
See Colleton Development Corporation 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

Attracts manufacturing, aviation, and healthcare investments to create jobs and boost county income.

Questions for Colleton Development Corporation INC

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Provided by the organization

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2 programs · $134K · in their own filed words · FY2021
01

To address critical strategic issues which have impeded economic GROWTH.TO establish level iv certified foreign-trade zone sites with interstate or airport ACCESS.TO expand technical training skill sets.

$119Kprogram expense
02

Sponsors for the industry appreciation event are businesses in neighboring counties and colleton county.

$15Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $40K · 2021–2021
J & L Wire Cloth LLCFY2021$20,000
Palmetto Training INCFY2021$20,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$132K
Ln 12
Gifts and grantsLn 1h$132K
Investment incomeLn 3$57
Money outPt IX
$170K
Ln 25
Programscol B$134K
Managementcol C$36K
Owns and owesPt X
$99K
net assets · Ln 32
Cash and savingsLn 1–2$90K
Total assetsLn 16$100K
LiabilitiesLn 26$783
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$132K
Government grantsLn 1e$103K
Investment incomeLn 3$57
Total revenueLn 12$132K
Assets in detailPt X, end of year
CashLn 1$59K
SavingsLn 2$31K
Cash and savings togetherLn 1–2$90K
Total assetsLn 16$100K
LiabilitiesLn 26$783
Net assetsLn 32$99K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$136K$90K
Total assetsLn 16$136K$100K
LiabilitiesLn 26−$713$783
Net assetsLn 32$137K$99K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$40K$40K
Other salaries and wagesLn 7$13K$13K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$12K$12K
Office expensesLn 13$8K$8K
Information technologyLn 14$692$692
TravelLn 17$11K$4K$8K
Conferences, conventions and meetingsLn 19$23K$23K
Other expenses (24a–d)Ln 24$57K$55K$2K
Total functional expensesLn 25$170K$134K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $137K$81K 990 PDF
FY2024 $133K$69K 990 PDF
FY2023 $122K$119K 990 PDF
FY2022 Viewing $132K$170K−$37K$99K 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 FY2022 990 (6 parts)
Part I · Summary $132,239 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $115,250$132,182
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $102$57
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $115,352$132,239
I-13 Grants and similar amounts paidPrior year $0$40,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,976$13,022
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $92,157$116,690
I-18 Total expensesPrior year $103,133$169,712
I-19 Revenue less expensesPrior year $12,219−$37,473
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $132,239 across 5 lines filed
VIII-1e Government grants$103,482
VIII-1f All other contributions, gifts and grants$28,700
VIII-1h Total contributions, gifts and grants$132,182
VIII-3 Investment incomeExcluded from tax $57$57
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $57$132,239
Part IX · Statement of functional expenses $169,712 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $40,000$40,000
IX-7 Other salaries and wagesManagement $13,022$13,022
IX-11c Accounting feesManagement $4,170$4,170
IX-12 Advertising and promotionPrograms $11,681$11,681
IX-13 Office expensesManagement $8,496$8,496
IX-14 Information technologyManagement $692$692
IX-17 TravelPrograms $3,608 · Management $7,856$11,464
IX-19 Conferences, conventions and meetingsPrograms $23,144$23,144
IX-24 Other expenses (24a–d)Programs $55,231 · Management $1,812$57,043
IX-25 Total functional expensesPrograms $133,664 · Management $36,048 · Fundraising $0$169,712
Part X · Balance sheet $99,981 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $105,209$59,475
X-2 Savings and temporary cash investmentsStart of year $30,449$30,506
X-4 Accounts receivableStart of year $300$10,000
X-16 Total assetsStart of year $135,958$99,981
X-17 Accounts payable and accrued expensesStart of year −$713$783
X-26 Total liabilitiesStart of year −$713$783
X-27 Net assets without donor restrictionsStart of year $136,671$99,198
X-32 Total net assets or fund balancesStart of year $136,671$99,198
X-33 Total liabilities and net assetsStart of year $135,958$99,981
Part XI · Reconciliation of net assets $99,198 net assets at year end
XI-1 Total revenue$132,239
XI-2 Total expenses$169,712
XI-3 Revenue less expenses−$37,473
XI-4 Net assets at start of year$136,671
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$99,198

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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