Overview
What is South Carolina Research Authority?
The South Carolina Research Authority is a nonprofit organization headquartered in Columbia, South Carolina, with a US address at 1000 Catawba Street, ZIP code 29201. Its primary mission is to stimulate South Carolina's innovation economy by fostering growth in research, academia, entrepreneurship, and industry. The organization provides support in the form of grants and expertise to researchers and entrepreneurs in technology-based ventures, contributing significantly to job creation and economic growth in the state. Approximately 83% of the South Carolina Research Authority's expenses for the fiscal year ending June 30, 2022, were dedicated to program services.
Official website here: www.scra.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The South Carolina Research Authority has achieved a high commendation with a Four-Star rating from Charity Navigator, largely due to its impressive Accountability and Finance score of 96%. This score reflects the organization's strong governance practices, including a fully independent board and robust financial oversight, which contribute to transparency and trustworthiness.
Key strengths include a very efficient program expense ratio of 81.11%, indicating that a significant portion of its budget is dedicated to its mission-driven programs. Additionally, the organization has no material diversion of assets, demonstrating financial integrity. Its policies on conflict of interest, whistleblower protections, and document retention further enhance its accountability.
However, despite its many strengths, the organization does face a notable challenge in fundraising efficiency, with a score that suggests room for improvement. While the overall financial health appears solid, addressing fundraising strategies could enhance its sustainability and capacity to expand its impact further.
This AI summary has been generated from information found on Charity Navigator.
Is South Carolina Research Authority legitimate?
South Carolina Research Authority is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Carolina Research Authority 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: $2,117,239
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,507,175
For more financial information, click here
Official website here: www.scra.org
What is the mission statement of South Carolina Research Authority?
The South Carolina Research Authority fuels innovation in South Carolina's economy by accelerating technology-driven growth in research, academia, entrepreneurship, and industry. Their mission is to attract high technology industries by developing research facilities and providing support through grants and expertise to researchers and entrepreneurs in technology-based ventures. This fosters job creation and economic growth within the state. Approximately 83% of the South Carolina Research Authority's expenses during the fiscal year ending on June 30, 2022, were allocated to program services.
Official website here: www.scra.org
Who is the CEO of South Carolina Research Authority?
Bob Quinn is the Principal Officer of South Carolina Research Authority.
Official website here: www.scra.org
What is the revenue of South Carolina Research Authority?
South Carolina Research Authority's revenue in 2022 was $17,524,075.
Official website here: www.scra.org
Who are the executives of South Carolina Research Authority and what are their salaries?
The average compensation at South Carolina Research Authority during 2022 was $102,765. There are 45 employees and 24 volunteers at South Carolina Research Authority.
Here are 36 key members and their salaries:
- Compensation: $315,289
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- Other: $24,172
- Compensation: $224,992
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- Compensation: $204,902
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- Other: $24,539
- Compensation: $197,668
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- Other: $27,291
- Compensation: $195,613
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- Other: $25,001
- Compensation: $194,509
- Related: $0
- Other: $23,573
- Compensation: $175,568
- Related: $0
- Other: $25,748
- Compensation: $171,984
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- Other: $24,934
- Compensation: $163,901
- Related: $0
- Other: $25,052
- Compensation: $165,179
- Related: $0
- Other: $21,746
- Compensation: $152,039
- Related: $0
- Other: $25,537
- Compensation: $159,211
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Official website here: www.scra.org
Where can I find the form 990 for South Carolina Research Authority?
South Carolina Research Authority's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.scra.org
Learn more at the official website: www.scra.org
Mission Statement of South Carolina Research Authority
The South Carolina Research Authority (SCRA) is a dynamic organization that fuels the innovation economy of South Carolina by accelerating technology-driven growth in research, academia, entrepreneurship, and industry. The mission of SCRA is to attract high technology industries to the state by developing research facilities and providing support to researchers and entrepreneurs in technology-based ventures.
SCRA plays a crucial role in fostering job creation and economic growth in South Carolina by offering grants and expertise to those embarking on technology-driven ventures. Approximately 83% of SCRA's expenses for the fiscal year ended June 30, 2022, were related to program services. By investing in research and entrepreneurship, SCRA drives innovation and spurs economic development in the state.
In essence, the South Carolina Research Authority acts as a catalyst, igniting the growth of high-technology industries and nurturing the next generation of innovators and entrepreneurs. It is a vital partner in South Carolina's quest to build a robust and diverse economy, one that is rooted in innovation and fueled by the power of technology.
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Impact
October, 2024
The South Carolina Research Authority (SCRA) plays a crucial role in enhancing the state's innovation economy. By developing advanced research facilities, SCRA attracts high-technology industries to South Carolina, significantly contributing to job creation and economic growth. The organization provides essential support through grants and expertise, empowering researchers and entrepreneurs in technology-based ventures.
With around 83% of its expenses dedicated to program services, SCRA focuses on accelerating growth in research, academia, entrepreneurship, and industry. This commitment not only fosters a vibrant tech ecosystem but also positions South Carolina as a competitive player in the national and global market for technology and innovation. Through these efforts, SCRA fuels ongoing advancements in science and technology that benefit the state's overall economic landscape.
This information is meant to be a general summary of South Carolina Research Authority. 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 2022.
- Investment Income: $1,379,801
- Program Service Revenue: $2,081,456
- Gross Receipts: $18,010,456
Assets and Liabilities:
- Total Assets: $104,791,332
- Total Liabilities: $36,470,596
- Net Assets: $68,320,736
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMERCIAL CONTRACTS
Revenue
$1,998,057
REGIME FEES
Revenue
$83,399
Organization Details
Founding Year
1983
Phone
(803) 733-9069Principal Officer
Bob Quinn
Main Address
1000 catawba street, columbia, SC, 29201
Website
www.scra.orgNTEE Category
Code: U400 - Science research
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