Florence County Progress Inc

EIN: 570762307

Florence, SC

Total Revenue
$428,092
Total Expenses
$574,385
Total Assets
$1,276,956
Net Assets
$494,721
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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
Jill D Lewis
Phone
8436691149
Tax Period
2021-07-01 to 2022-06-30

Florence County Progress Inc, founded in 1983, is a small nonprofit that reported $428K in total revenue in fiscal year 2021. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $574K exceeded revenue, resulting in a 34% operating deficit.

Mission

To help promote, implement, and support activities designed to improve the economic development of Florence County, SC.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $395,105
Investment Income $391
Other Revenue $32,596
TOTAL REVENUE $428,092

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $574,385
TOTAL EXPENSES $574,385

Year-over-Year Comparison

2021 2020 Change
Revenue $428,092 $344,278 +0.2%
Expenses $574,385 $570,564 +0.0%
Net Income $-146,293 $-226,286 -0.4%
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
15
Independent Members
15
Employees
N/A
Volunteers
15

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
3
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jason Cox Board Member 0.30
Director
$0 $0 $0
Jill D Lewis Chair 0.30
Officer Director
$0 $0 $0
Dan Paola Board Member 0.30
Director
$0 $0 $0
Brian Fast Board Member 0.30
Director
$0 $0 $0
Jumana Swindler Board Member 0.30
Director
$0 $0 $0
Joe W Rocky Pearce Board Member 0.30
Director
$0 $0 $0
Jeff Payne Treasurer 0.30
Officer Director
$0 $0 $0
Jeanette Altman Board Member 0.30
Director
$0 $0 $0
Timothy Wimbush Board Member 0.30
Director
$0 $0 $0
Jamie Carsten Vice Chair 0.30
Officer Director
$0 $0 $0
Alexis Fleming Board Member 0.30
Director
$0 $0 $0
Darryl Hall Board Member 0.30
Director
$0 $0 $0
Irby Wilson Board Member 0.30
Director
$0 $0 $0
Jeff Singletary Board Member 0.30
Director
$0 $0 $0
Kristy Fowler Board Member 0.30
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
2022 $428,092 $574,385 $1,276,956 $-146,293
2021 $344,278 $570,564 $1,305,839 $-226,286
2020 $525,485 $335,089 $1,532,125 $190,396
2019 $722,564 $408,850 $1,341,729 $313,714
2018 $415,549 $439,323 $835,917 $-23,774
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