Folly Beach Tourism And Visitors Promotions Committee Inc
Folly Beach Tourism Committee shows consistent revenue and asset growth with no reported officer compensation.
EIN: 203272347 · Folly Beach, SC · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $592K |
| Total Expenses | $245K |
| Program Spending | 80% |
| Net Assets | $281K |
| Transparency Score | 85/100 |
Is Folly Beach Tourism And Visitors Promotions Committee Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Folly Beach Tourism And Visitors Promotions Committee Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Folly Beach Tourism And Visitors Promotions Committee Inc
Folly Beach Tourism And Visitors Promotions Committee Inc (EIN: 203272347) is a nonprofit organization based in Folly Beach, SC, classified under NTEE code S41. The organization reported total revenue of $592K and total assets of $508K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Folly Beach Tourism And Visitors Promotions Committee Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Folly Beach Tourism And Visitors Promotions Committee Inc is a small nonprofit that has been operating for 1 years, with 6 years of IRS 990 filings on record (2012–2018). Revenue has grown at a compound annual rate of 10.9%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $262K |
| Total Expenses | $245K |
| Surplus / Deficit | +$16K |
| Total Assets | $286K |
| Total Liabilities | $4K |
| Net Assets | $281K |
| Operating Margin | 6.3% |
| Debt-to-Asset Ratio | 1.5% |
| Months of Reserves | 14.0 months |
Financial Health Grade: A
In 2018, Folly Beach Tourism And Visitors Promotions Committee Inc reported a surplus of $16K with revenue exceeding expenses, holds 14.0 months of operating reserves (strong position), has a debt-to-asset ratio of 1.5% (very low leverage).
Financial Trends
Over 6 years of filings (2012–2018), Folly Beach Tourism And Visitors Promotions Committee Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | +7.5% | +18.7% | +7.8% |
| 2017 | +17.5% | +22.6% | +11.3% |
| 2016 | +15.3% | +84.8% | +25.3% |
| 2015 | +9.3% | -42.7% | +123.9% |
| 2013 | +16.8% | +11.5% | +4.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2025 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Folly Beach Tourism And Visitors Promotions Committee Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Folly Beach Tourism And Visitors Promotions Committee Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $16K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that its leadership may be volunteer-based or compensated through non-officer roles, which is a positive sign for minimizing overhead costs relative to its growing revenue and asset base.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Folly Beach Tourism And Visitors Promotions Committee Inc's IRS 990 filings:
- Lack of detailed expense breakdown in summary data makes precise efficiency analysis challenging.
- Absence of officer compensation could indicate volunteer leadership, but also warrants further investigation to ensure all compensation is transparently reported.
Strengths
The following positive indicators were identified for Folly Beach Tourism And Visitors Promotions Committee Inc:
- Consistent and significant revenue growth, from $140,792 in 2012 to $592,317 currently.
- Strong asset growth, from $81,425 in 2012 to $507,899 currently, indicating financial stability.
- Consistently low liabilities across all reported periods, demonstrating sound financial management.
- No reported officer compensation, suggesting a potentially very lean administrative structure or volunteer leadership.
- Positive net income in most years, indicating the organization is operating within its means and building reserves.
Frequently Asked Questions about Folly Beach Tourism And Visitors Promotions Committee Inc
Is Folly Beach Tourism And Visitors Promotions Committee Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Folly Beach Tourism And Visitors Promotions Committee Inc (EIN: 203272347) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does Folly Beach Tourism And Visitors Promotions Committee Inc spend its money?
Folly Beach Tourism And Visitors Promotions Committee Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Folly Beach Tourism And Visitors Promotions Committee Inc tax-deductible?
Folly Beach Tourism And Visitors Promotions Committee Inc is registered as a tax-exempt nonprofit (EIN: 203272347). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Folly Beach Tourism And Visitors Promotions Committee Inc's spending goes to programs?
Folly Beach Tourism And Visitors Promotions Committee Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Folly Beach Tourism And Visitors Promotions Committee Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Folly Beach Tourism And Visitors Promotions Committee Inc is above average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Folly Beach Tourism And Visitors Promotions Committee Inc located?
Folly Beach Tourism And Visitors Promotions Committee Inc is headquartered in Folly Beach, South Carolina and files with the IRS under EIN 203272347. It is classified under NTEE code S41.
How many years of IRS 990 filings does Folly Beach Tourism And Visitors Promotions Committee Inc have?
Folly Beach Tourism And Visitors Promotions Committee Inc has 6 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $592K in total revenue.
How does Folly Beach Tourism And Visitors Promotions Committee Inc generate its revenue?
The provided data indicates consistent revenue growth, but the specific sources (e.g., grants, membership fees, event income) are not detailed in the summary. Further examination of the full 990 forms would be needed to understand the revenue streams.
What are the primary program activities of this organization?
As a 'Tourism And Visitors Promotions Committee,' its primary program activities likely involve marketing, events, and initiatives aimed at attracting tourists and promoting Folly Beach. The NTEE code S41 (Tourism, Conventions, Visitors Bureaus) supports this.
Why is there no officer compensation reported?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer, or that any compensation is structured in a way that it is not reported under 'officer compensation' on the 990 form. This could be a strength for efficiency but also warrants clarification for full transparency.
What is the organization's strategy for managing its growing assets?
With assets growing from $81,425 in 2012 to $507,899 currently, the organization has accumulated significant resources. Understanding how these assets are invested or utilized to further its mission would provide insight into its long-term financial strategy.
Filing History
IRS 990 filing history for Folly Beach Tourism And Visitors Promotions Committee Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2012–2018), Folly Beach Tourism And Visitors Promotions Committee Inc's revenue has grown by 85.8%, moving from $141K to $262K. Total assets increased by 251% over the same period, from $81K to $286K. Total functional expenses rose by 71.9%, from $143K to $245K. In its most recent filing year (2018), Folly Beach Tourism And Visitors Promotions Committee Inc reported a surplus of $16K, with revenue exceeding expenses. The organization holds $4K in liabilities against $286K in assets (debt-to-asset ratio: 1.5%), resulting in net assets of $281K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $262K | $245K | $286K | $4K | — | View 990 |
| 2017 | $243K | $206K | $265K | $0 | — | View 990 |
| 2016 | $207K | $168K | $238K | $10K | — | View 990 |
| 2015 | $180K | $91K | $190K | $550 | — | — |
| 2013 | $164K | $159K | $85K | $0 | — | View 990 |
| 2012 | $141K | $143K | $81K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $262K, expenses of $245K, and assets of $286K (revenue +7.5% year-over-year).
- 2017: Revenue of $243K, expenses of $206K, and assets of $265K (revenue +17.5% year-over-year).
- 2016: Revenue of $207K, expenses of $168K, and assets of $238K (revenue +15.3% year-over-year).
- 2015: Revenue of $180K, expenses of $91K, and assets of $190K (revenue +9.3% year-over-year).
- 2013: Revenue of $164K, expenses of $159K, and assets of $85K (revenue +16.8% year-over-year).
- 2012: Revenue of $141K, expenses of $143K, and assets of $81K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Folly Beach Tourism And Visitors Promotions Committee Inc:
Data Sources and Methodology
This transparency report for Folly Beach Tourism And Visitors Promotions Committee Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.