Beaufort Digital Corridor

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The bdc is a business development effort by the city of Beaufort to attract, nurture, and promote tech and tech-related companies. The Corridor team, comprised of relevant participants in the private and public sector, is positioned to serve the business community as a portal to government, infrastructure, real estate, professional resources, capital and education. The team's overriding goal is to offer tangible resources to tech and tech-related companies.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
69¢ of each $1 spent went to programs.
Run by 60 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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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 4
filings with a surplus
Average deficit $12K a year · 5% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$66K
to officers and key staff · 35% of spending
Concern: pay to officers and key staff is 35% of spending; over 30%.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12K
26% of total assets
Looks good: liabilities are 26% 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
$178K
-8% vs prior year
Spent
$191K
To programs
69%
Net assets
$34K
By yearFY2021–FY2025
Revenue
$178K
FY2025▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2021$167K
FY2023$367K
FY2024$193K
FY2025$178K
Expenses
$191K
FY2025▼ -32%
Tap a bar for its year
Expenses by fiscal year
FY2021$152K
FY2023$333K
FY2024$279K
FY2025$191K
Net assets
$34K
FY2025▼ -27%
Tap a bar for its year
Net assets by fiscal year
FY2021$91K
FY2023$132K
FY2024$47K
FY2025$34K

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2018.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $132K Management & general 31% · $59K Fundraising 0% · $272

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

8 people listed on the 990; $66K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
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 1709 $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

NameFY2025FY2024FY2023FY2021
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.

See Beaufort Digital Corridor 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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Attracts, nurtures, and promotes tech companies by providing resources and connections.

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Provided by the organization

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3 programs · $132K · in their 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

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 · 1 grant · $5K · 2024–2024

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$178K
Ln 12
Gifts and grantsLn 1h$111K
Fees for servicesLn 2g$68K
Investment incomeLn 3$85
Money outPt IX
$191K
Ln 25
Programscol B$132K
Managementcol C$59K
Fundraisingcol D$272
Owns and owesPt X
$34K
net assets · Ln 32
Cash and savingsLn 1–2$5K
Total assetsLn 16$46K
LiabilitiesLn 26$12K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$111K
Government grantsLn 1e$100K
Fees for servicesLn 2g$68K
Investment incomeLn 3$85
Total revenueLn 12$178K
Assets in detailPt X, end of year
CashLn 1$5K
Cash and savings togetherLn 1–2$5K
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$790
Total assetsLn 16$46K
LiabilitiesLn 26$12K
Net assetsLn 32$34K
OperationsPt I, VI
EmployeesI 53
VolunteersI 660
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$42K$5K
Land, buildings, equipmentLn 10c$1K$1K
Total assetsLn 16$51K$46K
LiabilitiesLn 26$4K$12K
Net assetsLn 32$47K$34K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K$5K
Pay of current officers, directors and key staffLn 5$23K$5K$19K
Other salaries and wagesLn 7$39K$39K
Other employee benefitsLn 9$1K$470$532
Payroll taxesLn 10$6K$3K$3K
Legal feesLn 11b$832$832
Accounting feesLn 11c$17K$16K$195
Other fees for servicesLn 11g$24K$12K$13K$43
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$1K$443$1K
Information technologyLn 14$1K$1K$21$34
OccupancyLn 16$34K$34K
TravelLn 17$2K$1K$858
Conferences, conventions and meetingsLn 19$2K$96$2K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$2K$986$569
Other expenses (24a–d)Ln 24$26K$23K$2K
All other expensesLn 24e$1K$852$549
Total functional expensesLn 25$191K$132K$59K$272

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $178K$191K−$13K$34K 990 PDF
FY2024 $193K$279K−$86K$47K 990 PDF
FY2023 $367K$333K$34K$132K 990 PDF
FY2022 Not on file
FY2021 $167K$152K$15K$91K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $178,351 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $125,708$110,751
I-9 Program service revenuePrior year $46,941$67,515
I-10 Investment incomePrior year $56$85
I-11 Other revenuePrior year $20,765$0
I-12 Total revenuePrior year $193,470$178,351
I-13 Grants and similar amounts paidPrior year $0$5,400
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $132,651$68,912
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $146,485$116,777
I-18 Total expensesPrior year $279,136$191,089
I-19 Revenue less expensesPrior year −$85,666−$12,738
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $178,351 across 7 lines filed
VIII-1b Membership dues$7,153
VIII-1e Government grants$100,000
VIII-1f All other contributions, gifts and grants$3,598
VIII-1h Total contributions, gifts and grants$110,751
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $67,515$67,515
VIII-3 Investment incomeExcluded from tax $85$85
VIII-12 Total revenueRelated to mission $67,515 · Unrelated business $0 · Excluded from tax $85$178,351
Part IX · Statement of functional expenses $191,089 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $5,400$5,400
IX-5 Pay of current officers, directors and key staffPrograms $4,636 · Management $18,545$23,181
IX-7 Other salaries and wagesPrograms $38,810$38,810
IX-9 Other employee benefitsPrograms $470 · Management $532$1,002
IX-10 Payroll taxesPrograms $3,255 · Management $2,664$5,919
IX-11b Legal feesPrograms $832$832
IX-11c Accounting feesManagement $16,400 · Fundraising $195$16,595
IX-11g Other fees for servicesPrograms $11,609 · Management $12,791 · Fundraising $43$24,443
IX-12 Advertising and promotionPrograms $3,936$3,936
IX-13 Office expensesPrograms $443 · Management $1,017$1,460
IX-14 Information technologyPrograms $1,253 · Management $21 · Fundraising $34$1,308
IX-16 OccupancyPrograms $33,828$33,828
IX-17 TravelPrograms $1,343 · Management $858$2,201
IX-19 Conferences, conventions and meetingsPrograms $96 · Management $2,226$2,322
IX-22 Depreciation, depletion and amortizationPrograms $1,070$1,070
IX-23 InsurancePrograms $986 · Management $569$1,555
IX-24 Other expenses (24a–d)Programs $23,405 · Management $2,421$25,826
IX-24e All other expensesPrograms $852 · Management $549$1,401
IX-25 Total functional expensesPrograms $132,224 · Management $58,593 · Fundraising $272$191,089
Part X · Balance sheet $45,954 assets, 10 lines filed
Asset lines not itemized here account for $36,516; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $41,755$5,212
X-9 Prepaid expenses and deferred chargesStart of year $3,418$2,045
X-10c Land, buildings and equipment, netStart of year $1,022$1,391
X-15 Other assets$790
X-16 Total assetsStart of year $50,599$45,954
X-17 Accounts payable and accrued expensesStart of year $1,707$9,900
X-26 Total liabilitiesStart of year $3,907$12,000
X-27 Net assets without donor restrictionsStart of year $46,692$33,954
X-32 Total net assets or fund balancesStart of year $46,692$33,954
X-33 Total liabilities and net assetsStart of year $50,599$45,954
Part XI · Reconciliation of net assets $33,954 net assets at year end
XI-1 Total revenue$178,351
XI-2 Total expenses$191,089
XI-3 Revenue less expenses−$12,738
XI-4 Net assets at start of year$46,692
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$33,954

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

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