BEAUFORT COUNTY ECONOMIC DEVELOPMENT CORPORATION

EIN: 813339941 501(c)(3) Community Improvement

HILTON HEAD ISLAND, SC

Total Revenue
$826,988
Total Expenses
$887,682
Total Assets
$547,116
Net Assets
$547,116
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
SC
Principal Officer
ASHLEY FEASTER
Phone
8432263462
Tax Period
2023-07-01 to 2024-06-30

BEAUFORT COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $827K in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring.

Mission

THE VISION OF THE BEAUFORT COUNTY ECONOMIC DEVELOPMENT CORPORATION IS THE COLLABORATIVE ENTITY FOR ORGANIZING, STRUCTURING AND LEADING ECONOMIC DEVELOPMENT EFFORTS ON BEHALF OF BEAUFORT COUNTY'S RESIDENTS. THIS WILL BE ACHIEVED BY ENGAGING KEY STAKEHOLDERS TO DIVERSIFY THE COUNTY'S ECONOMY, ATTRACT INVESTMENTS AND WELL-PAYING JOBS. THE MISSION WILL BE CARRIED OUT IN A WAY THAT IS RESPECTFUL OF THE ENVIRONMENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $826,988
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $826,988

Expense Breakdown

Grants Paid $265,000
Salaries & Benefits $351,816
Fundraising Expenses $0
Program Expenses $854,675
Other Expenses $270,866
TOTAL EXPENSES $887,682

Year-over-Year Comparison

2023 2022 Change
Revenue $826,988 $1,325,449 -0.4%
Expenses $887,682 $987,251 -0.1%
Net Income $-60,694 $338,198 -1.2%
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

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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
3
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
4
$184,793
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ASHLEY FEASTER CHAIRMAN 1.00
Officer Director
$0 $0 $0
DR ANDREA SISTINO DIRECTOR 0.50
Director
$0 $0 $0
DR RICHARD J GOUGH DIRECTOR 0.50
Director
$0 $0 $0
FRANK RODRIQUEZ DIRECTOR 0.25
Director
$0 $0 $0
GREG SHELTON TREASURER 0.50
Officer Director
$0 $0 $0
MICHAEL ALSKO VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
LAWRENCE MCELYNN DIRECTOR 0.50
Director
$0 $0 $0
VERNA ARNETTE DIRECTOR 0.25
Director
$0 $0 $0
LAWRENCE TOOMER DIRECTOR 0.50
Director
$0 $0 $0
JOHN O'TOOLE EXECUTIVE DIRECTOR 40.00
Officer
$184,793 $0 $184,793
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 No data No data No data No data
2024 $826,988 $887,682 $547,116 $-60,694
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