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Lexington County Development Corporation

Not tax-deductible

Cayce, SC501(c)(6)EIN 57-0737954Revenue $128K in FY2025

On file with the IRS1006 12th St, 29033-3303 · Cayce, SCTax-exempt since Feb 1983

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Economic Development

23¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $9K a year · 12% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
23%
of spending
Concern: 23% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
17 mo
of spending, in cash
Looks good: 17.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$128K
-15% vs prior year
Spent
$119K
To programs
23%
Net assets
$745K
By yearFY2021–FY2025
Revenue
$128K
FY2025▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2021−$36K
FY2022$7K
FY2023$139K
FY2024$151K
FY2025$128K
Expenses
$119K
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2021$0
FY2022$26K
FY2023$178K
FY2024$112K
FY2025$119K
Net assets
$745K
FY2025▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2021$755K
FY2022$736K
FY2023$697K
FY2024$736K
FY2025$745K

From the FY2025 Form 990 (year ending June 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1983.

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

Where the money goes

23 cents of each dollar spent went to programs.

Program services 23% · $27K Management & general 0% · $494 Fundraising 77% · $91K

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

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Kevin Adams
Vice Chair
$0Pt VII · Sec A
Donald Burkett
Past Chair
$0Pt VII · Sec A
Susan Clifton
Board Member
$0Pt VII · Sec A
Blake Dowd
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Richard Jackson
Board Member
$0Pt VII · Sec A
Doug Clary JR
Board Member
$0Pt VII · Sec A
Greg Little
Board Member
$0Pt VII · Sec A
See Lexington County Development Corporation 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

Acquires and develops real estate in Lexington County to foster economic growth through commercial, residential, and recreational projects.

Questions for Lexington County Development Corporation

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The organization's exempt purpose is to acquire and develop real property in the lexington county area to benefit the public welfare & assist in economic development through well-planned commercial, residential, & recreational development. The following property was acquired for this plan and is undisposed of at year end.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$128K
Ln 12
Other incomeLn 4–11$124K
Investment incomeLn 3$5K
Money outPt IX
$119K
Ln 25
Programscol B$27K
Managementcol C$494
Fundraisingcol D$91K
Owns and owesPt X
$745K
net assets · Ln 32
Cash and savingsLn 1–2$169K
Total assetsLn 16$745K
LiabilitiesLn 26$0
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$5K
Other incomeLn 4–11$124K
Total revenueLn 12$128K
Assets in detailPt X, end of year
CashLn 1$169K
Cash and savings togetherLn 1–2$169K
InvestmentsLn 11–13$75K
Land, buildings, equipmentLn 10c$501K
Total assetsLn 16$745K
LiabilitiesLn 26$0
Net assetsLn 32$745K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$219K$169K
InvestmentsLn 11–13$75K
Land, buildings, equipmentLn 10c$515K$501K
Total assetsLn 16$736K$745K
LiabilitiesLn 26$0$0
Net assetsLn 32$736K$745K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$27K$26K$335
Other expenses (24a–d)Ln 24$92K$737$159$91K
Total functional expensesLn 25$119K$27K$494$91K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $128K$119K$10K$745K 990 PDF
FY2024 $151K$112K$39K$736K 990 PDF
FY2023 $139K$178K−$39K$697K 990 PDF
FY2022 $7K$26K−$19K$736K 990 PDF
FY2021 −$36K$0−$36K$755K 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 FY2025 990 (6 parts)
Part I · Summary $128,160 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $3,689$4,517
I-11 Other revenuePrior year $147,276$123,643
I-12 Total revenuePrior year $150,965$128,160
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $112,444$118,625
I-18 Total expensesPrior year $112,444$118,625
I-19 Revenue less expensesPrior year $38,521$9,535
Part VI · Governance 15 of 15 board members independent, 4 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $128,160 across 5 lines filed
VIII-3 Investment incomeRelated to mission $4,517$4,517
VIII-6 Net rental income or lossRelated to mission −$11,376−$11,376
VIII-8 Net income from fundraising events$130,019
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,000$5,000
VIII-12 Total revenueRelated to mission −$1,859$128,160
Part IX · Statement of functional expenses $118,625 across 2 lines filed
IX-13 Office expensesPrograms $26,273 · Management $335$26,608
IX-24 Other expenses (24a–d)Programs $737 · Management $159 · Fundraising $91,121$92,017
IX-25 Total functional expensesPrograms $27,010 · Management $494 · Fundraising $91,121$118,625
Part X · Balance sheet $745,131 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $219,235$168,724
X-10c Land, buildings and equipment, netStart of year $515,486$501,407
X-12 Other securities$75,000
X-16 Total assetsStart of year $735,596$745,131
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $735,596$745,131
X-33 Total liabilities and net assetsStart of year $735,596$745,131
Part XI · Reconciliation of net assets $745,131 net assets at year end
XI-1 Total revenue$128,160
XI-2 Total expenses$118,625
XI-3 Revenue less expenses$9,535
XI-4 Net assets at start of year$735,596
XI-10 Net assets at end of year$745,131

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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