PLATINUM2024

WACCAMAW COMMUNITY FOUNDATION INC

Building sustainable philanthropy to strengthen our communities.

aka WCF   |   Murrells Inlet, SC   |  http://www.waccamawcf.org
GuideStar Charity Check

WACCAMAW COMMUNITY FOUNDATION INC

EIN: 56-2121992


Mission

Since 1999, local philanthropists have turned to Waccamaw Community Foundation to effectively manage their giving and meet community needs. We serve people who share a common concern: improving quality of life in Horry and Georgetown Counties. We make charitable giving simple and effective by offering individuals creative ways to establish and manage funds that will positively impact the Waccamaw Region for generations to come. We also offer advice about projects and organizations that match your areas of interest, helping you meet your philanthropic goals. Waccamaw Community Foundation has made a lasting impact in Horry and Georgetown Counties. Through the generosity of our donors, we have awarded more than $24 million in grants since the Foundation was established in 1999. We aim to continue that legacy by helping donors of the Waccamaw Region connect with causes they care about.

Notes from the nonprofit

Celebrating 25 Years Since 1999, local philanthropists have turned to Waccamaw Community Foundation to effectively manage their giving and meet community needs. We serve people who share a common concern: improving quality of life in Horry and Georgetown Counties. We make charitable giving simple and effective by offering individuals creative ways to establish and manage funds that will positively impact the Waccamaw Region for generations to come. We also offer advice about projects and organizations that match your areas of interest, helping you meet your philanthropic goals. Waccamaw Community Foundation has made a lasting impact in Horry and Georgetown Counties. Through the generosity of our donors, we have awarded more than $27 million in grants since the Foundation was established in 1999. We aim to continue that legacy by helping donors of the Waccamaw Region connect with causes they care about.

Ruling year info

2015

President & CEO

Mr. Michael Mancuso

Board Chair

Mr. Rick Elliott

Main address

3655 S. Hwy. 17 Bus.

Murrells Inlet, SC 29576 USA

Show more contact info

EIN

56-2121992

Subject area info

Philanthropy

Foundations

Population served info

Children and youth

Adults

Ethnic and racial groups

Religious groups

Economically disadvantaged people

Show more populations served

NTEE code info

Public Foundations (T30)

Community Foundations (T31)

Philanthropy / Charity / Voluntarism Promotion (General) (T50)

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Granting Programs

Granting from Donor Advised Funds, Local Trust - Competitive Grants to Non-Profit Organizations, Educational Grants

Population(s) Served

Where we work

Awards

Non-Profit of the Month - June 2023

Myrtle Beach Area Chamber of Commerce

Non-Profit of the Year 2023

Destination North Myrtle Beach

Non-Profit of the Year Nominee 2023

Myrtle Beach Area Chamber of Commerce

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total dollar amount of grants awarded

This metric is no longer tracked.
Totals By Year
Related Program

Granting Programs

Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Since 1999, local philanthropists have turned to Waccamaw Community Foundation to effectively manage their giving and meet community needs. We serve many people who share a common concern: improving quality of life in Horry and Georgetown Counties.\r\n\r\nWe make charitable giving simple and effective by offering individuals creative ways to establish and manage funds that will positively impact the Waccamaw Region for generations to come. We also offer advice about projects and organizations that match your areas of interest, helping you meet your philanthropic goals.\r\n\r\nWaccamaw Community Foundation has made a lasting impact in Horry and Georgetown Counties. Through the generosity of our donors, we have awarded more than $17.8 million in grants since our 1999. We aim to continue that legacy by helping donors of the Waccamaw Region connect with causes they care about.

By offering a variety of funds, we help donors connect with the causes and organizations they care about most. Some of our donors choose to designate their funds to specific organizations, while others start field-of-interest funds, opening funding to any organization that meet certain criteria.\r\n\r\nOther donors even set up scholarships to help local students in need attend college. Endowed funds last in perpetuity, continuing your philanthropic legacy forever. We work directly with donors, financial planners and attorneys to help make charitable giving simple.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

  • Which of the following feedback practices does your organization routinely carry out?

  • What challenges does the organization face when collecting feedback?

Financials

WACCAMAW COMMUNITY FOUNDATION INC
Fiscal year: Jan 01 - Dec 31
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

259.16

Average of 141.47 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

12.8

Average of 8.8 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

29%

Average of 24% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

WACCAMAW COMMUNITY FOUNDATION INC

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

WACCAMAW COMMUNITY FOUNDATION INC

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

WACCAMAW COMMUNITY FOUNDATION INC

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of WACCAMAW COMMUNITY FOUNDATION INC’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation -$2,468,739 -$7,638,760 $1,701,356 $3,997,325 -$1,799,073
As % of expenses -78.9% -55.7% 72.7% 86.3% -52.8%
Unrestricted surplus (deficit) after depreciation -$2,475,960 -$7,645,733 $1,692,479 $3,985,248 -$1,812,041
As % of expenses -79.0% -55.7% 72.1% 85.8% -53.0%
Revenue composition info
Total revenue (unrestricted & restricted) $3,745,186 $2,909,622 $2,285,152 $6,245,346 $5,536,720
Total revenue, % change over prior year -53.7% -22.3% -21.5% 173.3% -11.3%
Program services revenue 10.4% 13.0% 9.2% 6.4% 7.4%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 12.0% 17.8% 15.5% 10.3% 11.5%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 47.8% 60.6% 54.2% 62.7% 73.3%
Other revenue 29.8% 8.6% 21.0% 20.7% 7.9%
Expense composition info
Total expenses before depreciation $3,128,262 $13,707,360 $2,340,076 $4,633,600 $3,406,261
Total expenses, % change over prior year 29.9% 338.2% -82.9% 98.0% -26.5%
Personnel 6.2% 1.0% 5.5% 3.9% 9.3%
Professional fees 1.0% 0.2% 1.0% 1.7% 2.0%
Occupancy 0.5% 0.2% 0.8% 0.6% 0.5%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 75.5% 94.9% 73.3% 82.3% 71.4%
All other expenses 16.8% 3.7% 19.4% 11.4% 16.9%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $3,135,483 $13,714,333 $2,348,953 $4,645,677 $3,419,229
One month of savings $260,689 $1,142,280 $195,006 $386,133 $283,855
Debt principal payment $0 $0 $0 $0 $1,947
Fixed asset additions $0 $8,176 $28,097 $0 $0
Total full costs (estimated) $3,396,172 $14,864,789 $2,572,056 $5,031,810 $3,705,031

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 5.3 0.2 24.0 8.8 12.8
Months of cash and investments 117.8 20.9 132.2 76.7 97.4
Months of estimated liquid unrestricted net assets 120.6 20.8 130.6 76.3 97.4
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $1,372,088 $219,343 $4,670,890 $3,390,487 $3,646,862
Investments $29,337,543 $23,630,903 $21,114,902 $26,241,674 $23,999,826
Receivables $793,344 $0 $0 $53,831 $82,260
Gross land, buildings, equipment (LBE) $498,389 $506,565 $525,656 $536,888 $525,206
Accumulated depreciation (as a % of LBE) 14.2% 15.3% 14.7% 16.7% 17.0%
Liabilities (as a % of assets) 0.2% 0.2% 0.9% 0.5% 0.3%
Unrestricted net assets $31,876,128 $24,230,395 $25,922,874 $29,908,122 $28,096,081
Temporarily restricted net assets $0 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $0 $0 $63,302 $66,906 $0
Total net assets $31,876,128 $24,230,395 $25,986,176 $29,975,028 $28,096,081

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

President & CEO

Mr. Michael Mancuso

Mike is a veteran business leader with more than 30 years of experience as an innovative problem solver and change agent for nonprofit, banking and small business organizations. Mike is a skilled economic developer with background in community development, downtown redevelopment, industrial development and strategic planning. His passion is helping Communities and Businesses thrive and grow. Most recently Mike served as the President and CEO of the Triangle East Chamber of Commerce & Economic Development Foundation in Johnston County, NC and as Executive Director for the Sustainable Opportunity Development Center, Inc in Salem, OH. Mike and his wife Christine make their home in Little River, SC. They have 3 children and 5 grandchildren living in Charleston, SC, Atlanta, GA, & Austin TX. Mike enjoys boating on the ICW, tinkering in his workshop/garage and spending time with family and friends.

Board Chair

Rick Elliott

Rick Elliott is president of his family business, Elliott Realty, one of the most prominent real estate companies in North Myrtle Beach. As a native of Horry County, he has always made giving back to the community a part of his approach to business. Each guest who stays with Elliott Realty is given the option to add an additional $1 per night to their bill to be donated to the Elliott Realty Charitable Community Fund at Waccamaw Community Foundation, which invests in causes throughout the surrounding community. Rick brings this commitment to community philanthropy to his service on the Waccamaw Community Foundation Board of Directors. He has also served as the chairman of the North Myrtle Beach Chamber of Commerce.

Number of employees

Source: IRS Form 990

WACCAMAW COMMUNITY FOUNDATION INC

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
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Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

WACCAMAW COMMUNITY FOUNDATION INC

Board of directors
as of 05/09/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

Mr. Rick Elliott

Elliott Beach Rentals

Term: 2017 - 2025


Board co-chair

Robert Hucks, II

Coastal Carolina National Bank

Term: 2022 - 2025

Dennis Wade

The Jackson Companies - President

Phillip Anderson

HomeTrust Bank

Emma Ruth Brittain

Retired Attorney

Allen Jeffcoat

Jeffcoat Law

Cheryl Cail

Waccamaw Indian People

Gary Cooper

Palmetto Infusion

Wallace Evans Jr.

A Father's Place

Deshawn Rouse

Spirt Filled Ambassadors for Christ Ministries

Erik Fromm

CSG Capital Partners of Janney Montgomery Scott LLC

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 5/9/2024

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male
Disability status
Decline to state

The organization's co-leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male
Disability status
Decline to state

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

No data