Spirit of South Carolina Inc (EIN 474866776) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2015

Legal Domicile

Principal Officer

Adam Reed

Phone

9377257762

Tax Period

2025-01-01 to 2025-12-31

Spirit of South Carolina Inc, founded in 2015, is a micro nonprofit that reported $3K in total revenue in fiscal year 2025. Expenses of $132K exceeded revenue, resulting in a 5180% operating deficit.

Mission

Spirit of South Carolina is a nonprofit maritime heritage and education organization operating a U.S. Coast Guard-certified traditionally rigged sailing vessel based in Charleston South Carolina. The organization delivers hands-on educational and experiential programs that connect participants to the Lowcountrys maritime history culture and working waterfront through direct engagement aboard a functioning vessel.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $2,500

Program Service Revenue $0

Investment Income $2

Other Revenue $0

TOTAL REVENUE $2,502

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,333

Fundraising Expenses $0

Program Expenses $3,333

Other Expenses $128,777

TOTAL EXPENSES $132,110

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,502	N/A	N/A
Expenses	$132,110	N/A	N/A
Net Income	$-129,608	N/A	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Hank Hofford	Board Member	2.00	Director	$0	$0	$0
Teddy Turner	Board Member	2.00	Director	$0	$0	$0
Pierre Manigault	Board Member	2.00	Director	$0	$0	$0
Tommy Baker	Co-President	8.00	Officer Director	$0	$0	$0
Colleen Flynn	Interim Executive Director	8.00	Officer Director	$0	$0	$0
Michael Bennett	Co-President	8.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$2,502	$132,110	$3,035,859	$-129,608
2024	$274,491	$232,540	$3,162,331	$41,951
2023	$370,028	$174,984	$3,120,381	$195,044
2022	$193,151	$183,369	$2,925,337	$9,782
2021	$63,321	$172,239	$2,950,245	$-108,918
2020	$110,704	$240,396	$3,059,826	$-129,692
2019	$427,074	$542,969	$3,158,287	$-115,895
2018	$495,177	$664,469	$3,278,442	$-169,292

Spirit of South Carolina Inc