Beaufort Digital Corridor EIN 81-4210441 Form 990 (PDF) Claim this org

Beaufort Digital Corridor

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Attracts, nurtures, and promotes tech companies by providing resources and connections. For fiscal year 2024 it reported $178K in revenue, $191K in expenses, and $34K in net assets.Pt I

Founded
2016
Type
Business league / trade association · Community Development
Location
Beaufort, SC
Website
www.beaufortdigital.com
Filings
3 on file (2021–2024)
Revenue
$178KFY2024
Expenses
$191K
Net assets
$34K
People
8
Filings
3
Updates
0
More identity details & actions ⌄
EIN  81-4210441 Business league / trade association Beaufort, SC Founded 2016
Form 990 (PDF)
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Size
$100K–1M
What they do
Attracts, nurtures, and promotes tech companies by providing resources and connections.
Leadership
Jessica O'Brien · Exec Director · $66K
Money in and out
$178K revenue, $191K expenses
Bottom line
-7% operating surplus
Membership & operating revenue · FY2024
Total revenue
$178K
Pt VIII · Ln 12
Total expenses
$191K
Pt IX · Ln 25
Net assets
$34K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$13K
Where spending went · Part IX cols B–D
Program services $0.69 Management & general $0.31 Fundraising $0.00
Operating surplus
-7%
revenue over expenses▲ +84% vs prior filing year
Earned revenue
38%
of revenue from program services & dues▲ +56% vs prior filing year
Payroll share
36%
of spending is salaries & benefits▼ -24% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$178K
FY2024▼ -8%
Expenses
$191K
FY2024▼ -32%
Total assets
$46K
FY2024▼ -9%
Total liabilities
$12K
FY2024▲ +207%
Total revenue
$178K
Pt VIII · Ln 12
Total expenses
$191K
Pt IX · Ln 25
Net assets
$34K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$13K
Total assetsPt X · Ln 16$46K
Program-expense ratioPt IX · col B69%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $132K of program spending, described in the organization's own filed words · FY2024.
01

The BDC operates from basecamp, the BDC'S professional business INCUBATOR/CO-WORKING office in historic beaufort. This location serves as the focal point for the advancement of beaufort's tech and tech-related economy. The office location is at 500 carteret street in downtown beaufort.

$129Kprogram expense
02

The tech connect program is BDC'S signature networking event for beaufort's growing tech community to exchange ideas, make new connections, and expand networks. This program offers events to connect with fellow tech enthusiasts, entrepreneurs, and VCS over local food and drinks.

$3Kprogram expense
03

The women in tech program eliminates traditional roadblocks hindering women from pursuing tech careers by offering flexible programs, mentorship, and a supportive network. The initiative aims to enable women to thrive in the tech industry and to provide a welcoming space for women to network, learn, and grow a community.

$419program expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBeaufort Digital Corridor
EINHdr · item D81-4210441
Principal addressHdr · item CBeaufort, SC
WebsiteHdr · item Jwww.beaufortdigital.com
Year of formationHdr · item L2016
State of legal domicileHdr · item MSC
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S41)
Ruling yearIRS BMFFeb 2018

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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Exec Director
$66,355Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Jessica O'Brien’s $66K as Exec Director is at the 43rd percentile of top reported officer pay among 1711 $100K–1M community development 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.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2021
Jessica O'Brien$66,355$78,373$69,769$41,250

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$111K · 62%
Program service revenue$68K · 38%
Contributions & grants62%$111K
Program service revenue38%$68K
Investment income$85
— government grantsLn 1e$100K
Total revenueLn 12$178K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.69 Management & general $0.31 Fundraising $0.00
Program services69%$132K
Management & general31%$59K
Fundraising$272
Total functional expensesLn 25$191K

Balance Sheet

Part X · end of year
CashLn 1$5K
Total assetsLn 16$46K
Total liabilitiesLn 26$12K
Total net assetsLn 32$34K
Months of cash on handcomputed0.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5K · Operating expenses/yr $191K
0.3 months
Where the money goes
Program services
Program services $132K · Total expenses $191K
69%
Management & General
Management & general $59K · Total expenses $191K
31%
Fundraising
Fundraising $272 · Total expenses $191K
0.1%
Cost to raise $1
Fundraising expense (3-yr avg) $26K · Solicited contributions (3-yr avg) $47K
$0.55 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $111K · Total revenue $178K
62%
Government reliance
Government grants $100K · Total revenue $178K
56%
Earned-income share
Program service revenue $68K · Total revenue $178K
38%
Investment reliance
Investment income $85 · Total revenue $178K
+0.05%
Program self-sufficiency
Program service revenue $68K · Total expenses $191K
35%
Growth & trend
Revenue growth (YoY)
This year $178K · Prior year $193K
-8%
Revenue CAGR
FY2020 $167K · FY2024 $178K
+2%
Net-asset trend (YoY)
End of year $34K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $178K · Expenses $191K
-7%
Liabilities-to-Assets
Total liabilities — · Total assets $46K
Net-asset ratio
Net assets $34K · Total assets $46K
74%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $46K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jessica O'Brien · Reported title EXEC DIRECTOR · Highest reported compensation $66K · Total expenses $191K
35%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $69K · Total expenses $191K
36%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 69%
Overhead ratio 31%
Fundraising cost ratio 0.2%
Revenue growth -8%

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 · $5K · 2024–2024

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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
FY2024$193K revenue · ⤓ 990 PDF
FY2023$367K revenue · ⤓ 990 PDF
FY2022not on file
FY2021$167K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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