South Carolina Future Minds Inc

EIN: 571036861 501(c)(3)

Florence, SC

Total Revenue
$317,203
Total Expenses
$362,496
Total Assets
$82,342
Net Assets
$71,828
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
SC
Principal Officer
Debbie Jones
Phone
8037415646
Tax Period
2018-08-01 to 2019-07-31

South Carolina Future Minds Inc, founded in 1995, is a small nonprofit that reported $317K in total revenue in fiscal year 2018. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $362K exceeded revenue, resulting in a 14% operating deficit.

Mission

South Carolina Future Minds. Inc. (The "Organization") is a voluntary association of individuals operating collectively to serve, support and strengthen South Carolina public education. The organization promotes excellence in South Carolina public schools through SCFM programs designed to benefit all children. The organization achieves its goal by contributions to schools, school programs and advocacy of quality public education. The organiztion welcomes everyone in the South Carolina public school system, regardless of age, race, sex, ethnicity, ability, or religion.

Program Service Accomplishments

Program 1
Expenses: $143,788 Revenue: $25,615

Teacher Appreciation Month: On the heels of the Teacher of the Year gala, SC Future Minds co-hosts a press conference at the State House, in which the Governor officially proclaims May as Teacher...

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Teacher Appreciation Month: On the heels of the Teacher of the Year gala, SC Future Minds co-hosts a press conference at the State House, in which the Governor officially proclaims May as Teacher Appreciation Month. Throughout the month, we collect and share teacher tributes on social media and encourage individuals and businesses to support local educators through our 21 ways to support a teacher campaign.

Program 2
Expenses: $48,447

Education for the Economy (E4E), a new statewide, business-led initiative advancing research-based policies that support the needs of public schools and private sector companiesat the same time. The...

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Education for the Economy (E4E), a new statewide, business-led initiative advancing research-based policies that support the needs of public schools and private sector companiesat the same time. The data-driven advocacy initiative is modeled after successful efforts in North Carolina and Tennessee and is the first of its kind in the state. E4E will initially focus on policies that strengthen the talent pipeline in public education, making the economic case for investments in teachers and principals that both save public dollars and sustain growth.

Program 3
Expenses: $19,192 Revenue: $13,366

STEM ED: The STEM Educator of the Year award honors educators who are making a significant difference in the lives of students across the state by providing an excellent curriculum, encouraging...

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STEM ED: The STEM Educator of the Year award honors educators who are making a significant difference in the lives of students across the state by providing an excellent curriculum, encouraging lifelong learning, and inspiring a passion for STEM beyond the classroom and into the future.

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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 (2018)

Revenue Breakdown

Contributions & Grants $218,790
Program Service Revenue $97,630
Investment Income $33
Other Revenue $750
TOTAL REVENUE $317,203

Expense Breakdown

Grants Paid $0
Salaries & Benefits $145,641
Fundraising Expenses $18,263
Program Expenses $267,636
Other Expenses $216,855
TOTAL EXPENSES $362,496

Year-over-Year Comparison

2018 2017 Change
Revenue $317,203 $470,098 -0.3%
Expenses $362,496 $502,103 -0.3%
Net Income $-45,293 $-32,005 +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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Governance

Voting Members
9
Independent Members
9
Employees
2
Volunteers
50

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
$56,187
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Katelyn Brewer Board Member 1.00
Director
$0 $0 $0
Spann Laffitte Board Member 1.00
Director
$0 $0 $0
Audrey Lane Secretary 1.00
Officer Director
$0 $0 $0
Jon E Pedersen Board Member 1.00
Director
$0 $0 $0
Ken Reynolds Board Member 1.00
Director
$0 $0 $0
Jim Stritzinger Board Member 1.00
Director
$0 $0 $0
Christopher Jaros Board Member 1.00
Director
$0 $0 $0
David Cote Chair 1.00
Officer Director
$0 $0 $0
Patrick M White Treasurer 1.00
Officer Director
$0 $0 $0
Debbie Jones Executive Direc 40.00
Officer
$51,408 $4,779 $56,187
Caroline P Mauldin Former Ex. Director 40.00
$46,731 $1,979 $48,710
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
2019 $317,203 $362,496 $82,342 $-45,293
2018 $470,098 $502,103 $153,674 $-32,005
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