SEABROOK ISLAND PROPERTY OWNERS ASSOCIATION

EIN: 570600562 Community Improvement

JOHNS ISLAND, SC

Total Revenue
$11,144,122
Total Expenses
$8,312,514
Total Assets
$21,407,757
Net Assets
$20,542,984
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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
SC
Principal Officer
MARK NEATH
Phone
8437251557
Tax Period
2023-01-01 to 2023-12-31

SEABROOK ISLAND PROPERTY OWNERS ASSOCIATION, founded in 1972, is a mid-sized nonprofit in the Community Improvement sector that reported $11.1M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.8M, a strong 25% operating margin.

Mission

TO PRESERVE THE PROPERTY VALUES AND QUALITY OF LIFE OF THE COMMUNITY THROUGH DEVELOPMENT AND IMPLEMENTATION OF PROGRAMS TO PROTECT THE ENVIRONMENT, FACILITATE ACQUISITION AND MAINTENANCE OF GREEN SPACE, AND TO PROVIDE FOR THE HEALTH, SAFETY, SECURITY, AND WELFARE OF PROPERTY OWNERS.

Program Service Accomplishments

Program 1
Expenses: $847,378 Revenue: $1,843,889

PRIVATE PATROL SERVICE - THE ASSOCIATION PROVIDES A PRIVATE PATROL SERVICE TO THE COMMUNITY, WHICH IS ANOTHER IMPORTANT ASSOCIATION ACTIVITY THAT PROMOTES THE GENERAL WELFARE OF THE COMMUNITY. THE...

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PRIVATE PATROL SERVICE - THE ASSOCIATION PROVIDES A PRIVATE PATROL SERVICE TO THE COMMUNITY, WHICH IS ANOTHER IMPORTANT ASSOCIATION ACTIVITY THAT PROMOTES THE GENERAL WELFARE OF THE COMMUNITY. THE PATROL SERVICE DUTIES INCLUDE PATROLLING THE COMMUNITY WHILE WATCHING OUT FOR UNUSUAL OR SUSPICIOUS ACTIVITY TO REDUCE CRIME. MINOR TRAFFIC MATTERS ARE HANDLED BY THE UNARMED ASSOCIATION SECURITY STAFF. MORE SERIOUS MATTERS ARE HANDLED BY THE COUNTY SHERIFF'S DEPARTMENT. THE ASSOCIATION SECURITY STAFF ACTS AS A LIAISON TO THE CHARLESTON COUNTY SHERRIFF'S DEPARTMENT FOR INCIDENTS THAT OCCUR ON SEABROOK ISLAND, WITH POLICE RADIOS FOR DIRECT CONTACT. THE SECURITY STAFF IS ALSO ALERTED TO 911 CALLS WITHIN THE COMMUNITY AND IN MOST INSTANCES IS THE FIRST RESPONDER TO EMERGENCY CALLS. THE MAJORITY OF THE SECURITY STAFF MEMBERS ARE TRAINED TO RESPOND TO EMERGENCIES IN CPR AND DEFIBRILLATOR USE. DEPUTY SHERIFFS ARE OFTEN HIRED FOR SPECIAL EVENT SECURITY WITHIN THE ASSOCIATION.

Program 2
Expenses: $824,474

ROAD & STORM DRAIN MAINTENANCE - THE ASSOCIATION OWNS SOME 28 MILES OF ROADS, AND IS FULLY RESPONSIBLE FOR THE MAINTENANCE, REPAIR, AND RECONSTRUCTION OF THESE ROADS. THE ASSOCIATION'S ROAD...

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ROAD & STORM DRAIN MAINTENANCE - THE ASSOCIATION OWNS SOME 28 MILES OF ROADS, AND IS FULLY RESPONSIBLE FOR THE MAINTENANCE, REPAIR, AND RECONSTRUCTION OF THESE ROADS. THE ASSOCIATION'S ROAD MAINTENANCE ACTIVITIES PROMOTE THE GENERAL WELFARE OF THE COMMUNITY AND, BECAUSE ROAD MAINTENANCE IS AN ESSENTIAL GOVERNMENTAL FUNCTION, THE ACTIVITIES LESSEN THE BURDEN OF THE TOWN OF SEABROOK ISLAND AND/OR THE COUNTY OF CHARLESTON. THE ASSOCIATION ALSO MAINTAINS ALL STORM DRAINS THAT SERVICE THE COMMUNITY. THIS IS A PARTICULARLY IMPORTANT SERVICE ON A LOW LYING ISLAND SUBJECT TO HURRICANE FLOODING.

Program 3
Expenses: $935,564

MAINTENANCE OF GREENBELTS, LAKES, AND PONDS - THE ASSOCIATION MAINTAINS LANDSCAPED TRAFFIC ISLANDS, GREENBELTS ADJACENT TO STREETS, AND SEVERAL COMMON AREA LOTS, AS WELL AS NUMEROUS LAKES AND PONDS...

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MAINTENANCE OF GREENBELTS, LAKES, AND PONDS - THE ASSOCIATION MAINTAINS LANDSCAPED TRAFFIC ISLANDS, GREENBELTS ADJACENT TO STREETS, AND SEVERAL COMMON AREA LOTS, AS WELL AS NUMEROUS LAKES AND PONDS FOR ALGAE CONTROL, AND BUILDING BIRD AND FISH HABITATS. THIS IS PART OF A BEAUTIFICATION PROJECT THAT PROMOTES THE GENERAL WELFARE OF THE COMMUNITY.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $9,867,718
Investment Income $271,022
Other Revenue $1,005,382
TOTAL REVENUE $11,144,122

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,983,343
Fundraising Expenses $0
Program Expenses $6,650,012
Other Expenses $6,329,171
TOTAL EXPENSES $8,312,514

Year-over-Year Comparison

2023 2022 Change
Revenue $11,144,122 $9,055,207 +0.2%
Expenses $8,312,514 $8,837,083 -0.1%
Net Income $2,831,608 $218,124 +12.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
41
Volunteers
21

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
7
$459,898
Total Directors
12
$0
Key Employees
1
$233,323
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN SESODY DIRECTOR 4.00
Director
$0 $0 $0
MIKE SANKOVICH DIRECTOR 4.00
Director
$0 $0 $0
SUE FERLAND DIRECTOR 4.00
Director
$0 $0 $0
JOYCE PHILLIPS DIRECTOR 4.00
Director
$0 $0 $0
BRADLEY PHILLIPS DIRECTOR 4.00
Director
$0 $0 $0
LISA RYAN DIRECTOR 4.00
Director
$0 $0 $0
THOMAS JOHNSON DIRECTOR 4.00
Director
$0 $0 $0
BILL CONNOLLY PRESIDENT 4.00
Officer Director
$0 $0 $0
DAVID BROWN VICE PRESIDENT 4.00
Officer Director
$0 $0 $0
WARREN WEBER TREASURER 4.00
Officer Director
$0 $0 $0
DAVID CRUSE SECRETARY 4.00
Officer Director
$0 $0 $0
SUSAN MAY LEGAL CHAIR 4.00
Officer Director
$0 $0 $0
HEATHER PATON EXECUTIVE DIRECTOR 40.00
Officer
$261,919 $20,846 $282,765
STEPHEN J ARNOLD DIRECTOR OF FINANCE 40.00
Officer
$157,709 $19,424 $177,133
STEVEN HIRSCH DIRECTOR OF ENGINEERING 40.00
Key Emp
$208,958 $24,365 $233,323
KATRINA BURRELL DIR. OF ADMIN & ARCH. REVI 40.00
Highest
$134,674 $21,601 $156,275
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
2024 No data No data No data No data
2023 $11,144,122 $8,312,514 $21,407,757 $2,831,608
2022 $9,055,207 $8,837,083 $19,018,886 $218,124
2021 $8,609,669 $6,352,616 $18,137,442 $2,257,053
2020 $8,282,084 $7,021,586 $15,677,900 $1,260,498
2019 $7,252,732 $5,533,839 $14,637,344 $1,718,893
2018 $6,905,691 $6,443,225 $13,034,973 $462,466
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