Overview
What is Spartanburg Recreational Facilities Corporation?
The Spartanburg Recreational Facilities Corporation is a nonprofit organization situated in Spartanburg, South Carolina. Their primary mission is to aid the city by managing and overseeing recreational facilities for the benefit of its citizens. This includes acquiring, leasing, operating, or donating such facilities, subject to applicable laws. During the recent fiscal year 2022, the corporation continued its role in managing the T.K. Gregg Community Center on behalf of the city of Spartanburg. This organization plays a vital role in enhancing community recreational opportunities and contributing to the overall well-being of the city's residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50%, One-Star out of Four Stars
The Spartanburg Recreational Facilities Corporation has received a score of 50% from Charity Navigator, indicating significant concerns regarding its accountability and financial management practices. The organization has a low rating primarily due to a lack of independent board members and missing governance policies, such as conflict of interest and whistleblower policies, which are critical for transparency and accountability.
Despite these weaknesses, the organization demonstrates a strong program expense ratio at 99.30%, indicating that nearly all of its expenses are directed towards its programs. Additionally, it has received full points for its audit and oversight committee, showing that it has processes in place to manage financial oversight effectively. However, the high liabilities to assets ratio of 97.86% raises concerns about financial stability and sustainability.
Overall, while the Spartanburg Recreational Facilities Corporation excels in directing funds to its programs, it faces serious challenges in governance and transparency that could affect its credibility and trust with donors and the community. The lack of necessary policies and independent oversight suggests a need for improvements in organizational practices to enhance accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Spartanburg Recreational Facilities Corporation legitimate?
Spartanburg Recreational Facilities Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spartanburg Recreational Facilities Corporation 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 Spartanburg Recreational Facilities Corporation?
The Spartanburg Recreational Facilities Corporation is established with the mission to aid cities by procuring, selling, donating, contributing, owning, operating, leasing, or managing recreational facilities for the benefit of its citizens. The corporation aims to take necessary actions as permitted by law to assist the city in this regard. In simpler terms, the corporation's primary objective is to enhance the city's recreational facilities for the enjoyment and welfare of its residents.
Who is the CEO of Spartanburg Recreational Facilities Corporation?
Chris Story is the President of Spartanburg Recreational Facilities Corporation.
What is the revenue of Spartanburg Recreational Facilities Corporation?
Spartanburg Recreational Facilities Corporation's revenue in 2022 was $792,339.
Who are the executives of Spartanburg Recreational Facilities Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $172,546
- Other: $38,265
- Compensation: $0
- Related: $129,924
- Other: $31,113
- Compensation: $0
- Related: $101,312
- Other: $26,945
Where can I find the form 990 for Spartanburg Recreational Facilities Corporation?
Spartanburg Recreational Facilities Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Spartanburg Recreational Facilities Corporation
The Spartanburg Recreational Facilities Corporation is committed to assisting its city by acquiring, managing, operating, leasing, or selling recreational facilities within the city. Its primary goal is to ensure these facilities are available and beneficial for the city's citizens. The organization also has the authority to contribute, donate, or take any other necessary actions, as permitted by applicable law, to aid the city in this endeavor. In essence, the Spartanburg Recreational Facilities Corporation serves as a catalyst for the city's recreational landscape, aiming to enhance the quality of life for its residents through the provision and management of recreational facilities.
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Impact
July, 2024
Spartanburg Recreational Facilities Corporation's impact is significant in enhancing the recreational opportunities available to the citizens of Spartanburg. Through its mission to manage recreational facilities for the benefit of the city and its residents, the corporation plays a vital role in promoting community well-being and engagement. By overseeing facilities like the T.K. Gregg Community Center, the corporation contributes to the city's overall quality of life and supports the development of a healthy and active local community. Its actions help to create a more vibrant and connected city by providing spaces for leisure, fitness, and social interaction.
This information is meant to be a general summary of Spartanburg Recreational Facilities Corporation. 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.
- Program Service Revenue: $792,339
- Gross Receipts: $792,339
Assets and Liabilities:
- Total Assets: $19,183,284
- Total Liabilities: $18,379,226
- Net Assets: $804,058
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEASE INCOME
Revenue
$746,312
LEASE INTEREST
Revenue
$46,027
Organization Details
Founding Year
2008
Phone
(864) 596-2059Principal Officer
Chris Story
Main Address
125 W BROAD STREET, SPARTANBURG, SC, 29306
NTEE Category
Code: S20 - Community improvement
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