MYRTLE BEACH REGIONAL ECONOMIC DEVELOPMENT CORPORATION (EIN 570998125) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

GREGG SMITH

Phone

8433474604

Tax Period

2024-07-01 to 2025-06-30

MYRTLE BEACH REGIONAL ECONOMIC DEVELOPMENT CORPORATION, founded in 1994, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2024. Revenue surged 39% from the prior year, signaling strong growth momentum. Expenses of $2.3M exceeded revenue, resulting in a 31% operating deficit.

Mission

PROMOTE, IMPLEMENT AND SUPPORT ACTIVITIES DESIGNED TO PROMOTE ECONOMIC DEVELOPMENT, DIVERSIFY THE ECONOMY & MAINTAIN A QUALITY BUSINESS CLIMATE

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,714,014

Program Service Revenue $13,650

Investment Income $47,955

Other Revenue $0

TOTAL REVENUE $1,775,619

Expense Breakdown

Grants Paid $0

Salaries & Benefits $622,185

Fundraising Expenses $0

Program Expenses $1,679,060

Other Expenses $1,708,023

TOTAL EXPENSES $2,330,208

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,775,619	$1,274,015	+0.4%
Expenses	$2,330,208	$1,420,500	+0.6%
Net Income	$-554,589	$-146,485	+2.8%

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

Governance

Voting Members

Independent Members

Employees

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
GREGG SMITH	CHAIRMAN	1.00	Officer Director	$0	$0	$0
NATASHA HANNA	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
MIKE HAGG	TREASURER	1.00	Officer Director	$0	$0	$0
MARILYN FORE	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHNNY GARDNER	DIRECTOR	1.00	Director	$0	$0	$0
GARY LOFTUS	DIRECTOR	1.00	Director	$0	$0	$0
MIKE COOL	DIRECTOR	1.00	Director	$0	$0	$0
BARRY SPIVEY	DIRECTOR	1.00	Director	$0	$0	$0
LAURA CROWTHER	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN ROOF	DIRECTOR	1.00	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	$1,775,619	$2,330,208	$2,092,625	$-554,589
2024	$1,274,015	$1,420,500	$2,616,055	$-146,485
2023	$2,740,436	$2,338,007	$2,764,302	$402,429
2022	$1,152,019	$1,082,636	$2,366,684	$69,383
2021	$1,110,794	$2,343,548	$2,299,029	$-1,232,754

MYRTLE BEACH REGIONAL ECONOMIC DEVELOPMENT CORPORATION