Nonprofit · EIN 27-3715681
CHARLESTON REDEVELOPMENT CORPORATION
Tax-exempt · CHARLESTON, SC 29401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,047,077 | $1,464,590 | $1,582,487 | $21,487,391 | $6,902,946 | $14,584,445 |
| December 31, 2023 | 990 | $3,541,424 | $1,334,937 | $2,206,487 | $19,669,371 | $6,667,413 | $13,001,958 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,888,084
- of which government grants
- $1,768,417
- Program service revenue
- $1,014,355
- Investment income
- $83,430
- Net gain from sales of assets
- $81,112
- Other revenue
- $61,208
Expenses
- Grants and similar amounts paid
- $122,259
- Compensation of officers, directors and key employees
- $87,979
- Other salaries and wages
- $94,268
- Salaries, compensation and benefits (total)
- $220,156
- Professional fundraising fees
- $0
- Legal fees
- $1,200
- Accounting fees
- $5,588
- Occupancy
- $385,415
- Travel
- $3,417
- Depreciation
- $183,867
- Program services (functional)
- $1,403,784
- Management and general (functional)
- $37,822
- Fundraising (functional)
- $22,984
Balance sheet and other
- Total assets, start of year
- $19,669,371
- Total assets, end of year
- $21,487,391
- Total liabilities, end of year
- $6,902,946
- Net assets, end of year
- $14,584,445
- Land, buildings and equipment
- $7,263,112
- Net assets without donor restrictions
- $14,014,445
- Net assets with donor restrictions
- $570,000
- Gross receipts
- $3,741,765
- Employees
- 1
- Volunteers
- 9
- Year formed
- 2012
- State of legal domicile
- SC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| F A Johnson II Esq | Executive Director Officer | 40 | $95,935 | $14,483 |
| Mr Jonathan Oakman | President Trustee or director, Officer | 5 | $0 | $0 |
| Mrs Geona Shaw-Johnson | Vice President Trustee or director, Officer | 5 | $0 | $0 |
| Ms Cheryl F Ferraro CPA | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Ms Diane Hamilton | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Ms Carol Jackson | Board Member Trustee or director | 1 | $0 | $0 |
| Mr Theron Snype | Board Member Trustee or director | 1 | $0 | $0 |
| Ms April J Wood | Board Member Trustee or director | 1 | $0 | $0 |
| Mr Casdell Singleton | Board Member Trustee or director | 1 | $0 | $0 |
| Ms Aris Ferguson | Board Member Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| F A JOHNSON II ESQ | EXECUTIVE DI Officer | 40 | $84,720 | $2,388 |
| MR JONATHAN OAKMAN | PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| MRS GEONA SHAW-JOHNSON | VICE PRESIDE Trustee or director, Officer | 5 | $0 | $0 |
| MS CHERYL F FERRARO CPA | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| MS DIANE HAMILTON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MR ELI POLIAKOFF ESQ | IMMED PAST P Trustee or director | 1 | $0 | $0 |
| MS CAROL JACKSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MR OTHA MEADOWS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MR THERON SNYPE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MR KEVIN HOLINSHED | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MS APRIL J WOOD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MS LATONYA GAMBLE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MR GREGORY VOIGT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MR CASDELL SINGLETON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 75 CALHOUN STREET, CHARLESTON, SC 29401-3538
- In care of
- % GEONA JOHNSON
- Mailing address (990-N for 2017)
- 75 Calhoun Street 3rd Floor, Charleston SC 29401
- Principal officer (990 for 2024)
- Mr Jonathan Oakman, PO Box 21299, Charleston, SC 29413
- Principal officer (990-N for 2017)
- Melissa Maddox-Evans, 75 Calhoun Street 3rd Floor, Charleston SC 29401
- Signed the 990
- Ms Cheryl F Ferraro CPA, Treasurer
- Phone
- (843) 970-1802
- Website
- www.palmettoclt.org
- Return prepared by
- Glaser and Company LLC
Mission
To facilitate, develop, and advocate for neighborhood revitalization, affordable housing construction, preservation and economic development in Charleston County.
Program accomplishments
- 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 is organized to leverage funding to facilitate, develop, and advocate for neighborhood revitalization, housing construction, preservation and economic development throughout Charleston County. Working in concert with Development Partners and Local Units of Government.(Continued on Schedule O)The CRC operates three (3) Loan Programs, an affordable housing loan program for developers, Common Cause Rehabilitation Loan Program, and provides Consumer Down Payment Assistance Loans designed to remove financial barriers that hinder the development of affordable housing.The CRC operates the Palmetto Community Land Trust, which provides long term affordability to approximately Two Hundred (200) housing units being planned, constructed, or preserved. The Land Trust 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.- 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.Expenses $1,403,784 · grants $122,259 · revenue $1,095,467
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 27-3715681
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2012
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31)
- Assets (IRS master file)
- $21,487,391
- Income (IRS master file)
- $3,741,765
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,047,077 | $1,464,590 | $21,487,391 | XML |
| 990 | December 2023 | $3,541,424 | $1,334,937 | $19,669,371 | XML |
| 990 | December 2022 | $6,079,133 | $2,804,516 | $17,732,982 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990-N for 2017 Officer: Melissa Maddox-Evans | December 31, 2017 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-3715681).
Questions about CHARLESTON REDEVELOPMENT CORPORATION
- What is the EIN of CHARLESTON REDEVELOPMENT CORPORATION?
- The employer identification number (EIN) of CHARLESTON REDEVELOPMENT CORPORATION is 27-3715681.
- Is CHARLESTON REDEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2012.
- Are donations to CHARLESTON REDEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CHARLESTON REDEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CHARLESTON REDEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CHARLESTON REDEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CHARLESTON REDEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names Mr Jonathan Oakman.
- Who are the officers and directors of CHARLESTON REDEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 10 people; 1 received compensation from the organization, the highest $95,935 (F A Johnson II Esq, Executive Director).
- How much revenue does CHARLESTON REDEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,047,077, expenses of $1,464,590 and total assets of $21,487,391 at year end.
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