Overview
What is Sumter Technology Center Inc?
Sumter Technology Center Inc is a nonprofit organization situated in Sumter, South Carolina. Their primary role is to own and manage the former federal building located at 101 S. Main St. In this capacity, they lease the property to Central Carolina Technical College. The college is the tenant, covering the expenses for insurance and utilities, while the city of Sumter takes charge of the building's maintenance. This arrangement enables Central Carolina Technical College to operate from this location, contributing to the provision of educational services in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement) - Score: 73%
Sumter Technology Center Inc has received a two-star rating from Charity Navigator, indicating that while the organization demonstrates some strengths, there are significant areas needing improvement. The organization excels in accountability and financial practices, highlighted by a 99.5% program expense ratio and a perfect score for its independent board structure and material diversion of assets, suggesting a solid commitment to utilizing resources effectively for its mission.
However, the evaluation also points out several critical weaknesses. The absence of key governance policies, such as a conflict of interest policy, whistleblower policy, and a document retention and destruction policy, raises concerns regarding organizational transparency and ethical standards. Additionally, the nonprofit's tax forms are not available on its website, further detracting from its accountability profile.
Overall, while Sumter Technology Center Inc shows strong financial stewardship, the lack of essential governance practices indicates that the organization has significant work to do in terms of compliance and transparency to enhance its credibility and trustworthiness within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Sumter Technology Center Inc legitimate?
Sumter Technology Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sumter Technology Center Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Sumter Technology Center Inc?
Sumter Technology Center Inc's primary objective is to acquire and lease out a former federal building to Central Carolina Technical College. The organization owns the building located at 101 S. Main St. in Sumter, SC, and the college is its tenant. The tenant pays only the costs of insurance and utilities, and the city of Sumter is responsible for maintaining the building. In essence, Sumter Technology Center Inc's mission is to provide a facility for Central Carolina Technical College, thereby contributing to the educational sector.
Who is the CEO of Sumter Technology Center Inc?
Deron Mccormick is the Member of Sumter Technology Center Inc.
What is the revenue of Sumter Technology Center Inc?
Sumter Technology Center Inc's revenue in 2023 was $75,851.
Who are the executives of Sumter Technology Center Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Sumter Technology Center Inc?
Sumter Technology Center Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Sumter Technology Center Inc
Sumter Technology Center Inc, as an organization, has a mission to acquire and lease the former federal building situated at 101 S. Main St. in Sumter, SC. This building is then leased to the Central Carolina Technical College. Notably, the college does not pay rent in the traditional sense, but instead covers the costs of insurance and utilities. This strategic move allows the college to utilize the building for its educational purposes, while Sumter Technology Center Inc maintains ownership. This arrangement serves as a valuable resource for the community, providing a suitable location for the college to continue its educational mission.
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Impact
August, 2024
Sumter Technology Center Inc's impact lies in providing a physical space for Central Carolina Technical College to operate and offer educational opportunities in Sumter, SC. By owning the former federal building at 101 S. Main St. and leasing it to the college, the organization plays a pivotal role in facilitating access to education for the community. Through this arrangement, Sumter Technology Center Inc contributes to the advancement of education and skill development in the region.
This information is meant to be a general summary of Sumter Technology Center Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Gross Receipts: $75,851
Assets and Liabilities:
- Total Assets: $1,391,821
- Total Liabilities: $0
- Net Assets: $1,391,821
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Organization Details
Founding Year
2002
Phone
(803) 436-2570Principal Officer
Deron Mccormick
Main Address
POST OFFICE BOX 1449, SUMTER, SC, 29151
NTEE Category
Code: B60 - Education
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