SOUTH CAROLINA RESEARCH AUTHORITY

EIN: 570736144 501(c)(3) Science & Technology

Columbia, SC

Total Revenue
$16,234,461
Total Expenses
$15,986,496
Total Assets
$101,459,439
Net Assets
$67,083,275
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
SC
Principal Officer
LAURA TERRY
Phone
8037339069
Tax Period
2022-07-01 to 2023-06-30

SOUTH CAROLINA RESEARCH AUTHORITY, founded in 1983, is a mid-sized nonprofit in the Science & Technology sector that reported $16.2M in total revenue in fiscal year 2022. Revenue decreased 7% compared to the prior year. Net assets of $67.1M represent 50 months of operating reserves.

Mission

SEE DESCRIPTION ON SCHEDULE O.

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Trantor Score

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

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $8,610,137
Program Service Revenue $1,177,472
Investment Income $952,026
Other Revenue $5,494,826
TOTAL REVENUE $16,234,461

Expense Breakdown

Grants Paid $3,632,961
Salaries & Benefits $5,614,121
Fundraising Expenses $0
Program Expenses $13,172,852
Other Expenses $6,739,414
TOTAL EXPENSES $15,986,496

Year-over-Year Comparison

2022 2021 Change
Revenue $16,234,461 $17,524,075 -0.1%
Expenses $15,986,496 $15,394,736 +0.0%
Net Income $247,965 $2,129,339 -0.9%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
11
Independent Members
11
Employees
39
Volunteers
24

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
4
$575,835
Total Directors
11
$0
Key Employees
3
$617,262
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT QUINN EXECUTIVE DIRECTOR 40.0
Officer
$326,141 $26,940 $353,081
COLE DUDLEY DIRECTOR SC INDUSTRY SOLUTIONS 40.0
Highest
$214,080 $25,136 $239,216
JOHN SIRCY DIRECTOR OF FINANCE & ADMIN 35.0
Officer
$191,757 $30,997 $222,754
MATTHEW BELL DIRECTOR SC LAUNCH 20.0
Key Emp
$196,411 $25,261 $221,672
WILLIAM L MACILWINEN SENIOR INVESTMENT MANAGER 40.0
Highest
$186,856 $24,730 $211,586
RUSSELL COOK DIR. SC ACADEMIC INNOVATIONS 40.0
Key Emp
$181,951 $28,385 $210,336
JIM DOOLITTLE DIRECTOR, SC EPSCOR 40.0
Highest
$182,451 $25,234 $207,685
STEVE JOHNSON SENIOR INVESTMENT MANAGER 40.0
Highest
$179,885 $24,195 $204,080
DEREK WILLIS SENIOR INVESTMENT MANAGER 40.0
Highest
$168,092 $25,011 $193,103
RANDALL S CUTTS DIRECTOR SC FACILITIES 40.0
Key Emp
$159,443 $25,811 $185,254
DON HERRIOTT CHAIRMAN 1.5
Officer Director
$0 $0 $0
DR MICHAEL AMIRIDIS TRUSTEE 1.5
Director
$0 $0 $0
DR L FRED CARTER TRUSTEE 1.5
Director
$0 $0 $0
DR JAMES P CLEMENTS TRUSTEE 1.5
Director
$0 $0 $0
DR DAVID COLE TRUSTEE 1.5
Director
$0 $0 $0
ALEXANDER CONYERS TRUSTEE 1.5
Director
$0 $0 $0
DR LINDA DISTLERATH TRUSTEE 1.5
Director
$0 $0 $0
REP JASON ELLIOTT TRUSTEE 1.5
Director
$0 $0 $0
SENATOR LARRY GROOMS TRUSTEE 1.5
Director
$0 $0 $0
JO WATSON HACKL TRUSTEE 1.5
Director
$0 $0 $0
LOU KENNEDY TRUSTEE 1.5
Director
$0 $0 $0
LAURA TERRY DIRECTOR OF FINANCE & ADMIN 35.0
Officer
$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
2023 $16,234,461 $15,986,496 $101,459,439 $247,965
2022 $17,524,075 $15,394,736 $104,791,332 $2,129,339
2021 $18,851,513 $15,687,749 $84,250,804 $3,163,764
2020 $12,670,450 $14,221,987 $82,217,770 $-1,551,537
2019 $12,285,629 $14,456,920 $84,054,884 $-2,171,291
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