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Nonprofit · EIN 99-2636731

SPARTANBURG STADIUM FACILITIES CORP ORATION

Tax-exempt · SPARTANBURG, SC 29302

Financials

$27K$1.4M2023$3.8M$3.5M2024
Revenue Expenses · by fiscal year end
Financials of SPARTANBURG STADIUM FACILITIES CORP ORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$3,784,559$3,483,089$301,470$65,344,851$66,366,750-$1,021,899
June 30, 2024990$26,631$1,350,000-$1,323,369$62,496,631$63,820,000-$1,323,369
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$1,883,075
Investment income
$1,901,484
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Legal fees
$4,560
Occupancy
$185,943
Depreciation
$75,885
Program services (functional)
$3,483,089

Balance sheet and other

Total assets, start of year
$62,496,631
Total assets, end of year
$65,344,851
Total liabilities, end of year
$66,366,750
Net assets, end of year
-$1,021,899
Gross receipts
$3,784,559
Employees
0
Year formed
2024
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 June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
CHRIS STORYPRESIDENT
Trustee or director, Officer
0.05$0$204,448$51,020
DENNIS LOCKESECRETARY/TR
Trustee or director, Officer
0.25$0$112,007$31,813
COLE ALVERSONVICE PRESIDE
Trustee or director, Officer
0.05$0$0$0
990 for the year ended June 30, 2024: 3 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
CHRIS STORYPRESIDENT
Trustee or director, Officer
0.05$0$181,448$10,200
DENNIS LOCKESECRETARY/TR
Trustee or director, Officer
0.25$0$107,219$33,986
COLE ALVERSONVICE PRESIDE
Trustee or director, Officer
0.05$0$0$0

Address and contacts

Address (IRS master file)
295 E MAIN ST, SPARTANBURG, SC 29302-1932
Principal officer (990 for 2024)
CHRIS STORY, 295 E MAIN ST, SPARTANBURG, SC 29302
Signed the 990
DENNIS LOCKE, SECRETARY/TREASURER
Phone
(864) 596-2119
Return prepared by
GREENE FINNEY CAULEY LLP

Mission

THE SPARTANBURG STADIUM FACILITIES CORPORATION (THE CORPORATION) IS INTENDED TO BE AN ON BEHALF ISSUER OF THE CITY OF SPARTANBURG, SOUTH CAROLINA (THE CITY). THE CORPORATION ASSISTS THE CITY BY ACQUIRING, DEVELOPING, SELLING, DONATING, CONTRIBUTING, OWNING, OPERATING, LEASING, MANAGING, FINANCING, OR REFINANCING REAL PROPERTY AND IMPROVEMENTS THEREON IN THE CITY.

990 for the year ended June 30, 2025

Program accomplishments

  • IN 2024, THE CORPORATION ISSUED ITS 63,820,000 INSTALLMENT PURCHASE REVENUE BONDS, TAXABLE SERIES 2024 (THE 2024 BONDS). THE PROCEEDS OF THE 2024 BONDS WERE PRIMARILY USED TO DEFRAY THE COST OF DESIGN, ACQUISITION, CONSTRUCTION, AND EQUIPPING OF A MULTI-USE MUNICIPAL STADIUM INTENDED FOR USE PRINCIPALLY AS A MINOR LEAGUE BASEBALL VENUE (THE STADIUM). THE CITY HAS GROUND LEASED THE SITE OF THE STADIUM UNTIL APRIL 1, 2059 PURSUANT TO A GROUND LEASE AGREEMENT BETWEEN MORGAN & HENRY JOF ESA II, LLC AND THE CITY FOR A BASE RENTAL AMOUNT OF 1.00 PER YEAR. THE CORPORATION AND THE CITY ENTERED INTO A BASE LEASE AND CONVEYANCE AGREEMENT, AND AN INSTALLMENT PURCHASE AND USE AGREEMENT, PURSUANT TO WHICH THE CITY HAS THE RIGHT TO USE THE STADIUM, AND WILL PURCHASE THE STADIUM FROM THE CORPORATION IN INSTALLMENTS, AND THE CORPORATION WILL USE THE CITY'S INSTALLMENT PAYMENTS TO MAKE DEBT SERVICE PAYMENTS ON THE 2024 BONDS. THE CITY HAS SUBLEASED THE STADIUM TO THE TEAM OWNER. ONE HUNDRED PERCENT OF THE ACTIVITIES OF THE CORPORATION RELATE TO ACTIVITIES ON BEHALF OF THE CITY. THE ACTIVITIES OF THE CORPORATION LESSEN A BURDEN ON THE CITY IN THAT THE CITY APPROVED THE ISSUANCE OF THE 2024 BONDS ON THE CITY'S BEHALF AND SELECTED CITY PROJECTS TO BE FINANCED WITH THE PROCEEDS OF THE 2024 BONDS (E.G. AN OBJECTIVE MANIFESTATION BY A GOVERNMENTAL UNIT THAT IT CONSIDERS THE ACTIVITIES OF THE CORPORATION TO BE ITS BURDEN). IN ADDITION, THE CORPORATION'S ACTIVITIES ASSISTED THE CITY IN DEFRAYING A GOVERNMENTAL EXPENSE. THE CORPORATION'S ACTIVITIES LESSEN THE BURDEN ON THE CITY BECAUSE THE 2024 BONDS ARE A SOURCE OF FINANCING THAT IS NOT SUBJECT TO THE SOUTH CAROLINA CONSTITUTIONAL LIMITATIONS ON DEBT ISSUED BY THE CITY. THE CORPORATION MAY ISSUE BONDS OR ARRANGE OTHER FINANCING IN THE FUTURE TO ACQUIRE AND CONVEY PROPERTY TO THE CITY.
    Expenses $3,483,089 · revenue $1,883,075

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 June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
99-2636731
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization, Type I
Donations deductible (Pub 78)
Supporting organization, 50% limit
Exempt since
2026
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$65,344,851
Income (IRS master file)
$3,784,559

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$3,784,559$3,483,089$65,344,851IRS
990June 2024$26,631$1,350,000$62,496,631XML

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 99-2636731).

Questions about SPARTANBURG STADIUM FACILITIES CORP ORATION

What is the EIN of SPARTANBURG STADIUM FACILITIES CORP ORATION?
The employer identification number (EIN) of SPARTANBURG STADIUM FACILITIES CORP ORATION is 99-2636731.
Is SPARTANBURG STADIUM FACILITIES CORP ORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2026.
Are donations to SPARTANBURG STADIUM FACILITIES CORP ORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
Which annual return does SPARTANBURG STADIUM FACILITIES CORP ORATION 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 SPARTANBURG STADIUM FACILITIES CORP ORATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SPARTANBURG STADIUM FACILITIES CORP ORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of SPARTANBURG STADIUM FACILITIES CORP ORATION?
The 990 for the year ended June 30, 2025 names CHRIS STORY.
Who are the officers and directors of SPARTANBURG STADIUM FACILITIES CORP ORATION?
The 990 for the year ended June 30, 2025 lists 3 people; 0 received compensation from the organization.
How much revenue does SPARTANBURG STADIUM FACILITIES CORP ORATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $3,784,559, expenses of $3,483,089 and total assets of $65,344,851 at year end.

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