Lowcountry Local First

EIN: 870792700 501(c)(3) Community Improvement

Charleston, SC

Total Revenue
$1,281,604
Total Expenses
$1,247,665
Total Assets
$1,365,661
Net Assets
$679,533
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
SC
Principal Officer
Jacqueline Berger
Phone
8437405444
Tax Period
2024-01-01 to 2024-12-31

Lowcountry Local First, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

Lowcountry Local First advances economic prosperity and local ownership through innovative and inclusive initiatives that build our communitys wealth and wellbeing.

Program Service Accomplishments

Program 1
Expenses: $1,002,887 Revenue: $274,184

Lowcountry Local First's work leverages our understanding of our more than 450 local business and more than 12,000 employees across all sectors, and is informed by staff with expertise and...

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Lowcountry Local First's work leverages our understanding of our more than 450 local business and more than 12,000 employees across all sectors, and is informed by staff with expertise and on-the-ground experience in local economy-building, innovative economic development, entrepreneur support, sustainable agriculture, and food systems. Our mission is to advance economic prosperity and local ownership through innovative and inclusive initiatives that build our community's wealth and wellbeing. Our Initiatives create the building blocks of a strong local economy and include: (Continued on Schedule O)Awareness Throughout the year, Lowcountry Local First works to build awareness and support for local businesses. In order to shift citizen and institutional spending to local businesses, Lowcountry Local First conceives of and implements highly-visible awareness campaigns, including Eat Local Season and Buy Local Season. Campaign participants pledge to shift their personal and business spending to locally-owned retailers, financial institutions, service providers, farmers, artists, etc. Affinity Serving our member businesses remains our core work. To ensure that local business owners have the resources and support they need to thrive, we host monthly learning and networking Local Socials. Local Works, an affordable community coworking space, provides businesses a place to share information and resources, host meetings, and come together in a collaborative setting. Additional initiatives including our Local Expertise Exchange and our Commercial Space Advisory Committee foster an environment in which local business owners can connect to and assist each other. Advocacy As an organization, we support policies and economic development initiatives that level the playing field for local businesses. Our priorities include, but are not limited to: - Eliminating red tape for starting or operating a local business. - Supporting the creation of independent business districts through regulation of "formula businesses," property tax abatements, and other innovative methods. - Educating the public and local businesses on anti-monopoly regulation of Amazon to encourage competition, entrepreneurial opportunity, and fair practices toward small businesses. - Championing policies to address the root causes of workforce challenges, including affordable housing, a multi-modal transportation system, affordable/accessible childcare, skills training, etc. Innovation Through our annual Good Business Summit, we bring thought leaders nationally and locally together to share big ideas as well as challenges and promote the idea of businesses as a force for good. Inclusivity Since 2019 Lowcountry Local First has operated Good Enterprises, a program which is equipping emerging entrepreneurs with the tools they need to run successful businesses. We bring resources to traditionally underserved populations as a step forward on the journey towards a more equitable economy. The curriculum for this program was selected because of its proven impact on the lives of individuals and communities with the potential to transform the economic landscape of the Lowcountry. The program, which includes a 12-week Community Business Academy, Business Accelerator Services, and Credit to Capital, is offered in both English and Spanish, and serves more than 100 people per year.

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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 (2024)

Revenue Breakdown

Contributions & Grants $983,152
Program Service Revenue $272,679
Investment Income $24,268
Other Revenue $1,505
TOTAL REVENUE $1,281,604

Expense Breakdown

Grants Paid $5,000
Salaries & Benefits $680,032
Fundraising Expenses $127,378
Program Expenses $1,002,887
Other Expenses $562,633
TOTAL EXPENSES $1,247,665

Year-over-Year Comparison

2024 2023 Change
Revenue $1,281,604 $1,155,641 +0.1%
Expenses $1,247,665 $1,212,777 +0.0%
Net Income $33,939 $-57,136 -1.6%
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
14
Independent Members
14
Employees
14
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
5
$124,411
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David Bennet Chair 2.00
Officer Director
$0 $0 $0
Jennifer Ferrebee Vice Chair 2.00
Officer Director
$0 $0 $0
Kerri Chisolm Treasurer 2.00
Officer Director
$0 $0 $0
Kate Schmieding Secretary 2.00
Officer Director
$0 $0 $0
Jeremiah Bacon Board Member 1.00
Director
$0 $0 $0
Chris Brown Board Member 1.00
Director
$0 $0 $0
Edward Kronsberg Board Member 1.00
Director
$0 $0 $0
Margie Longshore Board Member 1.00
Director
$0 $0 $0
Sharon L McGhee Board Member 1.00
Director
$0 $0 $0
Andy McCarthy Board Member 1.00
Director
$0 $0 $0
Charles McClendon Board Member 1.00
Director
$0 $0 $0
Jonathan Sanchez Board Member 1.00
Director
$0 $0 $0
Ryan Stewart Board Member 1.00
Director
$0 $0 $0
Mimi Striplin Board Member 1.00
Director
$0 $0 $0
Jacqueline Berger Executive Director 40.00
Officer
$120,000 $4,411 $124,411
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
2024 $1,281,604 $1,247,665 $1,365,661 $33,939
2023 $1,155,641 $1,212,777 $1,530,251 $-57,136
2022 $1,255,880 $1,211,975 $1,739,977 $43,905
2021 $916,087 $1,039,631 $993,437 $-123,544
2020 $1,461,073 $988,404 $1,094,548 $472,669
2019 $919,992 $819,310 $322,603 $100,682
2018 $684,376 $722,021 $235,308 $-37,645
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