2024-11-15T08:32:26-05:00 2023-12-31 205788602 GLASER AND COMPANY LLC 1859 SUMMERVILLE AVE STE 800 CHARLESTON SC 29405 990 2023-01-01 273715681 CHARLESTON REDEVELOPMENT CORPORATION CHAR 8439701802 75 CALHOUN STREET SUITE 3200 CHARLESTON SC 29401 MS CHERYL F FERRARO CPA TREASURER 8437243766 2024-11-14 true false ERIK M GLASER CPA P00724565 8438490179 2024-11-14 2023 2024-10-15 13:58:12Z MR JONATHAN OAKMAN 75 CALHOUN STREET SUITE 3200 CHARLESTON SC 29401 3541424 false X WWW.PALMETTOCLT.ORG X 2012 SC TO FACILITATE, DEVELOP, AND ADVOCATE FOR NEIGHBORHOOD REVITALIZATION, AFFORDABLE HOUSING CONSTRUCTION, PRESERVATION AND ECONOMIC DEVELOPMENT IN CHARLESTON COUNTY 13 13 1 13 0 4588020 2659981 1324321 850524 209 751 166583 30168 6079133 3541424 487782 0 0 168327 177031 0 1313 2148407 1157906 2804516 1334937 3274617 2206487 17732982 19669371 6937511 6667413 10795471 13001958 X TO FACILITATE, DEVELOP, AND ADVOCATE FOR NEIGHBORHOOD REVITALIZATION, AFFORDABLE HOUSING CONSTRUCTION, PRESERVATION AND ECONOMIC DEVELOPMENT IN CHARLESTON COUNTY false false 1309108 850524 THE CRC IS A NON-PROFIT ORGANIZATION FOCUSED ON THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE HOUSING IN THE CHARLESTON AREA AND HELPS SECURE LOCAL, STATE AND NATIONAL FUNDING FOR LONG-TERM HOUSING AFFORDABILITY. THE CRC INCLUDES THE PALMETTO COMMUNITY LAND TRUST, WHICH PLACES LAND IN LONG- TERM TRUST PROTECTION TO ENSURE AFFORDABILITY AND ACCESSIBILITY FOR FUTURE GENERATIONS. THE PALMETTO COMMUNITY LAND TRUST (PCLT) IS A PROGRAM OF THE CHARLESTON REDEVELOPMENT CORPORATION (CRC), A PRIVATE 501C3 NONPROFIT CORPORATION GOVERNED BY AN ALL-VOLUNTEER BOARD OF DIRECTORS. (CONTINUED ON SCHEDULE O) 1309108 true true false false false false false false false false true false false false true false false true false false false false false false false false false false false false false false false false false false false false false false false false true false false false false true 9 0 1 true false false false false false false false false X 13 13 false false false false false false false true true false false true true true true true true true false false SC X MS CHERYL F FERRARO CPA 8439701802 75 CALHOUN STREET SUITE 3200 CHARLESTON SC 29401 MR JONATHAN OAKMAN PRESIDENT 5.00 X X 0 0 0 MRS GEONA SHAW-JOHNSON VICE PRESIDE 5.00 X X 0 0 0 MS CHERYL F FERRARO CPA TREASURER 1.00 X X 0 0 0 MS DIANE HAMILTON SECRETARY 1.00 X X 0 0 0 MR ELI POLIAKOFF ESQ IMMED PAST P 1.00 X 0 0 0 MS CAROL JACKSON BOARD MEMBER 1.00 X 0 0 0 MR OTHA MEADOWS BOARD MEMBER 1.00 X 0 0 0 MR THERON SNYPE BOARD MEMBER 1.00 X 0 0 0 MR KEVIN HOLINSHED BOARD MEMBER 1.00 X 0 0 0 MS APRIL J WOOD BOARD MEMBER 1.00 X 0 0 0 MS LATONYA GAMBLE BOARD MEMBER 1.00 X 0 0 0 MR GREGORY VOIGT BOARD MEMBER 1.00 X 0 0 0 MR CASDELL SINGLETON BOARD MEMBER 1.00 X 0 0 0 F A JOHNSON II ESQ EXECUTIVE DI 40.00 X 84720 0 2388 84720 2388 false false false 2573101 86880 2659981 RENTAL INCOME 531110 761855 761855 ADMINISTRATION FEES 236000 88669 88669 850524 751 751 INSURANCE PROCEEDS 531110 30168 30168 30168 3541424 880692 751 84969 79756 4344 869 77593 77593 2388 2245 119 24 12081 11707 312 62 11623 7830 3793 19953 10553 9400 71790 66559 4891 340 1279 1279 39108 38224 866 18 8103 8103 549466 549466 3333 3333 222108 222108 183867 183867 791 791 BAD DEBT - RESIDENTIAL 44389 44389 DUES AND SUBSCRIPTIONS 2096 2096 1334937 1309108 24516 1313 1131805 1304433 79211 177033 8095374 9856836 14494 14212 8016000 569021 7630844 7446979 26953 26072 754301 843806 17732982 19669371 342973 169642 296430 271055 6270032 6192579 28076 34137 6937511 6667413 X 10132822 12418809 662649 583149 10795471 13001958 17732982 19669371 2206487 X false true X true false X 3433846 1155902 5140105 4588020 2659981 16977854 68424 472274 795783 1490904 880692 3708077 3502270 1628176 5935888 6078924 3540673 20685931 20685931 14 267 767 209 751 2008 14 267 767 209 751 2008 3502284 1628443 5936655 6079133 3541424 20687939 0.99990 0.99990 0.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2500000 2500000 5516000 569021 4946979 7446979 TENANT SECUITY DEPOSIT 34137 34137 FORM 990, PART III LINE 4A: - THE CRC'S APPROACH TO AFFORDABLE HOMEOWNERSHIP IS A COMMUNITY FOCUSED EFFORT. OUR DEDICATION TO THE COMMUNITY IS HIGHLIGHTED BY OUR BOARD, WHICH MAINTAINS 1/3 REPRESENTATION BY LOW TO MODERATE INCOME PERSONS OR RESIDENTS OF LOW INCOME NEIGHBORHOODS. - COMMUNITY CONTROL OF LAND IS MAINTAINED WHERE THE TRUST RETAINS OWNERSHIP OF THE LAND AND CONVEYS OWNERSHIP OF THE IMPROVEMENTS TO AN INDIVIDUAL VIA A 99-YEAR LONG-TERM RENEWABLE GROUND LEASE THAT CAN BE INHERITED BY FUTURE GENERATIONS. - SINGLE FAMILY DETACHED AND MULTI-FAMILY HOUSING IS REMOVED FROM THE SPECULATIVE MARKET TO RESTRICT PRICE APPRECIATION AND TO MAINTAIN LONG-TERM AFFORDABILITY, BOTH IN OWNERSHIP AND RENTAL HOUSING. - PRESERVES PUBLIC AND PRIVATE SUBSIDIES BY MANAGING PRICE APPRECIATION, RETAINING COMMUNITY VALUE, AND RECYCLING THE SUBSIDY, LAND, AND AFFORDABLE UNITS FOR FUTURE GENERATIONS. THE RESALE PRICE OF PCLT PROPERTIES IS CAPPED BY A FORMULA TO ENSURE AFFORDABILITY REMAINS WITH THE PROPERTY OWNER. - ALLOWS LOCAL CONTROL OF THE COMMUNITY'S HOUSING FUTURE TO BUILD A LONG- TERM RELATIONSHIP WITH HOMEOWNERS. - LARGE SCALE DEVELOPMENT IS POSSIBLE THROUGH JOINT VENTURE DEVELOPMENT AND PUBLIC-PRIVATE PARTNERSHIPS. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 WAS DISTRIBUTED, DISCUSSED, AND VOTED ON BY THE BOARD PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C A DIRECTOR WITH A CONFLICT OF INTEREST MUST DISCLOSE THE NATURE OF THE CONFLICT AND PROVIDE A WRITTEN STATEMENT TO THE PRESIDENT OF THE BOARD PRIOR TO ANY ACTION OF THE BOARD ON THE ISSUE FOR WHICH THE DIRECTOR HAS A CONFLICT OF INTEREST. SUCH STATEMENT WILL BE READ AND WILL BE INCORPORATED AS PART OF THE OFFICIAL MINUTES FOR THE MEETING. FURTHER, THE INVOLVED DIRECTOR MUST RECUSE HIMSELF/HERSELF FROM ANY DISCUSSION, DELIBERATION, AND VOTING RELATED TO THE ISSUE WHICH PRESENTS A CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE FINANCE COMMITTEE IS CHARGED WITH ANNUAL BUDGET REVIEW INCLUDING CEO COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON PUBLIC REQUEST AT ITS CORPORATE OFFICES. PCTL SEA ISLAND APARTMENTS LLC 75 CALHOUN ST SUITE 3200 CHARLESTON SC 29401 843616653 HOUSING SC -60454 2950678 CRC PALMETTO COMMUNITY LAND TRUST NORTH CENTRAL LLC 75 CALHOUN ST SUITE 3200 CHARLESTON SC 29401 873424286 HOUSING SC -237241 4801961 CRC