EIN 57-0707663

Charleston LDC

IRS 501(c) type
501(c)(3)
Num. employees
50
Year formed
1979
Most recent tax filings
2020-09
Description
The purpose of the corporation is to further economic development to promote and assist in the growth and development of business concerns and to engage in those activities which are in furtherance of or related to those purposes.
Also known as...
Charleston Citywide Local Development Corporation

Program areas at Charleston LDC

Lending ProgramsBusiness builder loans, SBA Micro-loan Program, small business loan , real estate loans, and line of credit programs provide funding to eligible businesses within the organization's service area to meet most needs that those businesses may have. Although the LDC provides assistance to those under-served by the traditional financial institutions, it collaborates regularly with local commercial lenders and small business community resources.For the year ended September 30, 2020, the Organization approved 50 loans totaling $5,515,893 which resulted in closing 42 loans for a total of $5,373,893 in funding. These loans, including those refinanced, funded low-to-moderate housing projects and both new and existing micro and small businesses which provided a positive impact on employment opportunities through the creation and retention of 360 jobs.
Technical Assistance ProgramCoupled with its loan products, the organization provides both pre-loan counseling to prospective applicants and intensive post-loan developmental services to its borrowers. Such assistance occurs in various forums: one-on-one counseling, group sessions, workshops, seminars, classes, exhibitions, and site visits. Many of the group sessions are conducted in collaboration with local community resources such as SBDC, SCORE, or the SBA, just to name a few. Throughout the year, the Organization provided over 1,500 entrepreneurs some level of technical assistance. Of the total assisted, 140 individuals received information by attending one or more of the 24 seminars, workshops, or networking sessions offeredThe organization views its one-on-one technical assistance as critical to providing a foundation for success and offers such assistance through several vehicles of delivery to include consultant team, staff, and its community resources. The consultant team allows the Organization to provide specialized training by offering bookkeeping and QuickBooks training and business counseling through its site visit program. During the year, 114 businesses received almost 629.25 hours of specialized training.

Form 990s for Charleston LDC

Fiscal year endingDate received by IRSFormPDF link
2020-092021-05-25990View PDF
2019-092020-10-13990View PDF
2018-092019-04-22990OView PDF
2017-092018-03-14990View PDF
2016-092017-07-18990OView PDF
...and 6 more Form 990s

Who funds Charleston LDC

Federal funding details
Federal agencyProgram nameAmount
Small Business AdministrationMICROLOAN PROGRAM$721,266
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Financials for Charleston LDC

RevenuesFYE 09/2020
Total grants, contributions, etc.$858,854
Program services$842,320
Investment income and dividends$196,056
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$65,731
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,962,961

Personnel at Charleston LDC

NameTitleCompensation
Cindi RourkChief Executive Officer / Director of Lending and Business Development / Director of Business Development and Loan Officer
Sam SkardonDirector of Development and Operations / Director of Development and Policy
Dwayne JubarFinancial Services Director / Director of Finance / Financial Dir.$97,038
 Subscribe to viewDirector of Client Experience and Success / Director of Business Advisory Services and Client Inclusivity
 Subscribe to viewPortfolio and Operations Manager
...and 16 more key personnel

Organizations like Charleston LDC

OrganizationLocationRevenue
Queens Economic Development CorporationKew Gardens, NY$1,850,029
TechTownDetroit, MI$3,483,016
Lemhi County Economic Development AssociationSalmon, ID$517,769
Wisconsin Womens Business Initiative Corporation (WWBIC)Milwaukee, WI$8,786,748
Aedc Small Business Lending CenterEureka, CA$1,162,534
Newark Community Economic Development CorporationNewark, NJ$3,096,821
Long Island Development CorporationHauppauge, NY$751,799
Rockville Economic Development (REDI)Rockville, MD$1,614,016
Union County Economic Development Corporation (UCEDC)Cranford, NJ$3,311,510
Bear Paw Development CorporationHavre, MT$1,266,940
Structured Employment Economic Development Corporation (SEEDCO)New York, NY$7,904,107
Renaissance Economic Development CorporationNew York, NY$2,254,405
CCD Business Development CorporationRoseburg, OR$1,621,245
Greater St Cloud Development CorporationSt Cloud, MN$945,991
Oahu Economic Development BoardHonolulu, HI$2,088,931
Regional Development CorporationEspanola, NM$863,313
Great Northern Development CorporationWolf Point, MT$838,045
Greater Reading Chamber and Economic Development CorporationReading, PA$3,777,718
Cumberland Area Economic Development CorporationCarlisle, PA$2,094,990
Seize the Future Development FoundationAurora, IL$1,022,623
Development Corporation of Knox County (TDC)Knoxville, TN$1,402,856
Collinwood Nottingham Villages Development CorporationCleveland, OH$1,061,731
Lake County Community Development CorporationRonan, MT$1,337,830
Milwaukee Development CorporationMilwaukee, WI$3,242,928
Cabrillo Economic Development CorporationVentura, CA$4,658,020
Nonprofit Types
Issues
Characteristics
Key performance indicators
Total revenues
$1,962,961
2020
Yearly growth
8%
% of revenues
n/a
Total expenses
$1,176,022
2020
Yearly growth
-89.4%
% of expenses
n/a
Total assets
$25,015,035
2020
Yearly growth
4.5%
% of assets
n/a
Num. employees
50
2020
Yearly growth
614.3%
% of total
n/a
General information
Address
2 Race Street
Charleston, SC 29403
Metro area
Charleston-North Charleston, SC
Website URL
climbfund.org/ 
Phone
(843) 973-7298
IRS details
EIN
57-0707663
Fiscal year end
September
Taxreturn type
Form 990
Year formed
1979
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent