Grand Strand Business Association
Grand Strand Business Association shows strong financial recovery and asset growth in 2023 with no officer compensation.
EIN: 200962146 · Myrtle Beach, SC · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $508K |
| Total Expenses | $373K |
| Program Spending | 80% |
| Net Assets | $339K |
| Transparency Score | 85/100 |
Is Grand Strand Business Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Grand Strand Business Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Grand Strand Business Association
Grand Strand Business Association (EIN: 200962146) is a nonprofit organization based in Myrtle Beach, SC, classified under NTEE code S41. The organization reported total revenue of $508K and total assets of $392K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Grand Strand Business Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Grand Strand Business Association is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $626K |
| Total Expenses | $373K |
| Surplus / Deficit | +$253K |
| Total Assets | $340K |
| Total Liabilities | $1K |
| Net Assets | $339K |
| Operating Margin | 40.4% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 11.0 months |
Financial Health Grade: A
In 2023, Grand Strand Business Association reported a surplus of $253K with revenue exceeding expenses, holds 11.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Grand Strand Business Association's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +71.9% | -25.9% | +285.9% |
| 2022 | -17.1% | +71.3% | -61.6% |
| 2021 | +228.7% | -28.9% | +182.9% |
| 2020 | -78.2% | +11.9% | -77.5% |
| 2019 | -10.6% | -48.6% | +204.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2006 |
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 Grand Strand Business Association 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, Grand Strand Business Association 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $253K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
The Grand Strand Business Association consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers. This is a strong positive for minimizing administrative costs and maximizing funds for its mission.
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 Grand Strand Business Association's IRS 990 filings:
- Fluctuating revenue and expenses, leading to periods of deficit spending (e.g., 2022, 2020, 2018, 2016, 2015)
- Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data, making precise spending efficiency analysis difficult
Strengths
The following positive indicators were identified for Grand Strand Business Association:
- Consistent 0% officer compensation, indicating efficient use of funds for executive pay
- Strong financial recovery and positive net income in the most recent filing (2023: $625,512 revenue vs. $372,512 expenses)
- Significant asset growth in 2023, from $88,222 to $340,450
- Consistent filing of IRS Form 990s, demonstrating transparency
- Low liabilities in recent years, indicating good debt management
Frequently Asked Questions about Grand Strand Business Association
Is Grand Strand Business Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Grand Strand Business Association (EIN: 200962146) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does Grand Strand Business Association spend its money?
Grand Strand Business Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Grand Strand Business Association tax-deductible?
Grand Strand Business Association is registered as a tax-exempt nonprofit (EIN: 200962146). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Grand Strand Business Association's spending goes to programs?
Grand Strand Business Association directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Grand Strand Business Association compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Grand Strand Business Association 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 Grand Strand Business Association located?
Grand Strand Business Association is headquartered in Myrtle Beach, South Carolina and files with the IRS under EIN 200962146. It is classified under NTEE code S41.
How many years of IRS 990 filings does Grand Strand Business Association have?
Grand Strand Business Association has 13 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 $508K in total revenue.
Is Grand Strand Business Association a good charity?
Based on the available IRS 990 data, the Grand Strand Business Association appears to be a well-managed organization. It consistently reports 0% officer compensation, indicating efficient use of funds regarding executive pay. While detailed program spending percentages are not provided, the overall financial health, especially the significant asset growth and positive net income in 2023, suggests effective operations. Its consistent filing of 990s also points to good transparency.
How has the organization's financial health changed over time?
The organization's financial health has fluctuated, experiencing periods of deficit spending (e.g., 2022 with $363,878 revenue vs. $502,848 expenses) and surplus (e.g., 2023 with $625,512 revenue vs. $372,512 expenses). However, the most recent filing for 2023 shows a strong recovery with significant revenue exceeding expenses and a substantial increase in assets from $88,222 in 2022 to $340,450 in 2023.
What is the trend in the organization's assets?
The organization's assets have shown significant fluctuation but a strong upward trend in the most recent period. After a dip to $88,222 in 2022, assets rebounded sharply to $340,450 in 2023, indicating a healthy accumulation of resources. Historically, assets have ranged from a low of $78,032 in 2016 to a high of $413,819 in 2017.
Filing History
IRS 990 filing history for Grand Strand Business Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Grand Strand Business Association's revenue has grown by 29.4%, moving from $484K to $626K. Total assets increased by 27578.9% over the same period, from $1K to $340K. Total functional expenses fell by 25.2%, from $498K to $373K. In its most recent filing year (2023), Grand Strand Business Association reported a surplus of $253K, with revenue exceeding expenses. The organization holds $1K in liabilities against $340K in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $339K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $626K | $373K | $340K | $1K | — | View 990 |
| 2022 | $364K | $503K | $88K | $2K | — | View 990 |
| 2021 | $439K | $294K | $230K | $5K | — | — |
| 2020 | $134K | $413K | $81K | $1K | — | — |
| 2019 | $611K | $369K | $360K | $1K | — | View 990 |
| 2018 | $684K | $717K | $119K | $1K | — | View 990 |
| 2017 | $757K | $684K | $414K | $263K | — | View 990 |
| 2016 | $608K | $620K | $78K | $0 | — | View 990 |
| 2015 | $572K | $609K | $90K | $0 | — | View 990 |
| 2014 | $569K | $559K | $127K | $0 | — | View 990 |
| 2013 | $654K | $560K | $117K | $0 | — | View 990 |
| 2012 | $1.2M | $1.1M | $22K | $0 | — | View 990 |
| 2011 | $484K | $498K | $1K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $626K, expenses of $373K, and assets of $340K (revenue +71.9% year-over-year).
- 2022: Revenue of $364K, expenses of $503K, and assets of $88K (revenue -17.1% year-over-year).
- 2021: Revenue of $439K, expenses of $294K, and assets of $230K (revenue +228.7% year-over-year).
- 2020: Revenue of $134K, expenses of $413K, and assets of $81K (revenue -78.2% year-over-year).
- 2019: Revenue of $611K, expenses of $369K, and assets of $360K (revenue -10.6% year-over-year).
- 2018: Revenue of $684K, expenses of $717K, and assets of $119K (revenue -9.7% year-over-year).
- 2017: Revenue of $757K, expenses of $684K, and assets of $414K (revenue +24.5% year-over-year).
- 2016: Revenue of $608K, expenses of $620K, and assets of $78K (revenue +6.3% year-over-year).
- 2015: Revenue of $572K, expenses of $609K, and assets of $90K (revenue +0.4% year-over-year).
- 2014: Revenue of $569K, expenses of $559K, and assets of $127K (revenue -13.0% year-over-year).
- 2013: Revenue of $654K, expenses of $560K, and assets of $117K (revenue -43.4% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.1M, and assets of $22K (revenue +139.1% year-over-year).
- 2011: Revenue of $484K, expenses of $498K, and assets of $1K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Grand Strand Business Association:
Data Sources and Methodology
This transparency report for Grand Strand Business Association 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.