2017-01-06T10:24:56-05:00 2016-06-30 205788602 GLASER AND COMPANY LLC 1040 ANNA KNAPP BLVD MT PLEASANT SC 294643105 990 2015-07-01 571015804 CHARLESTON REGIONAL DEVELOPMENT ALLIANCE CHAR 8437679300 4401 BELLE OAKS DRIVE SUITE 420 NORTH CHARLESTON SC 29405 DAVID GINN PRESIDENT AND CEO 8437679300 2016-01-04 true ERIK M GLASER CPA P00724565 8438490657 2017-01-06 2015 2021-01-29 14:40:06Z DAVID GINN 4401 BELLE OAK DRIVE SUITE 420 NORTH CHARLESTON SC 29405 3498293 false X WWW.CRDA.ORG X 1995 SC THE CHARLESTON REGIONAL DEVELOPMENT ALLIANCE (CRDA) WAS INCORPORATED ON FEBRUARY 1, 1995 AS A PUBLIC AND PRIVATE NOT-FOR-PROFIT ECONOMIC DEVELOPMENT ORGANIZATION SUPPORTED AND LED BY THE REGION'S MOST INFLUENTIAL BUSINESS LEADERS, THREE COUNTY GOVERNMENTS, LARGEST MUNICIPALITIES, AND TOP ACADEMIC INSTITUTIONS. CRDA SERVES AS A CATALYST FOR LONG-TERM, SUSTAINABLE ECONOMIC GROWTH IN THE THREE-COUNTY CHARLESTON REGION WHICH COMPRISES BERKELEY, CHARLESTON AND DORCHESTER COUNTIES. THE ORGANIZATION LEADS A GLOBAL MARKETING EFFORT TO ATTRACT WORLD-CLASS BUSINESSES AND TALENT, AND SERVES AS A FACILITATOR FOR COMPANIES CONSIDERING THE REGION FOR COMPETITIVE EXPANSION OR LOCATION INVESTMENTS. CRDA ALSO COLLABORATES CLOSELY WITH OTHER ENTITIES TO ENSURE A GLOBALLY COMPETITIVE, SUSTAINABLE REGIONAL ECONOMY. CRDA RECEIVES ITS REVENUES FROM PRIVATE AND GOVERNMENT CONTRIBUTIONS. 66 66 16 0 3438941 3457905 35338 916 2330 3928 2720 3443785 3498293 0 0 1297326 1584333 0 259350 1309768 1807554 2607094 3391887 836691 106406 2413886 2540561 453728 643054 1960158 1897507 X THE CHARLESTON REGIONAL DEVELOPMENT ALLIANCE (CRDA) WAS INCORPORATED ON FEBRUARY 1, 1995 AS A PUBLIC AND PRIVATE NOT-FOR-PROFIT ECONOMIC DEVELOPMENT ORGANIZATION SUPPORTED AND LED BY THE REGION'S MOST INFLUENTIAL BUSINESS LEADERS, THREE COUNTY GOVERNMENTS, LARGEST MUNICIPALITIES, AND TOP ACADEMIC INSTITUTIONS. CRDA SERVES AS A CATALYST FOR LONG-TERM, SUSTAINABLE ECONOMIC GROWTH IN THE THREE-COUNTY CHARLESTON REGION WHICH COMPRISES BERKELEY, CHARLESTON AND DORCHESTER COUNTIES. THE ORGANIZATION LEADS A GLOBAL MARKETING EFFORT TO ATTRACT WORLD-CLASS BUSINESSES AND TALENT, AND SERVES AS A FACILITATOR FOR COMPANIES CONSIDERING THE REGION FOR COMPETITIVE EXPANSION OR LOCATION INVESTMENTS. CRDA ALSO COLLABORATES CLOSELY WITH OTHER ENTITIES TO ENSURE A GLOBALLY COMPETITIVE, SUSTAINABLE REGIONAL ECONOMY. CRDA RECEIVES ITS REVENUES FROM PRIVATE AND GOVERNMENT CONTRIBUTIONS. false false 2910701 35338 THE CRDA SERVES AS A CATALYST FOR LONG-TERM REGIONAL PROSPERITY BY ATTRACTING THE WORLD'S BEST COMPANIES, TALENT AND ENTREPRENEURS. IN FY15- 16, WE DROVE A COMPREHENSIVE MARKETING EFFORT AND PARTICIPATED IN DOZENS OF BUSINESS DEVELOPMENT EVENTS ALIGNED WITH OUR REGION'S TARGET SECTORS AND/OR GEOGRAPHIES. WORKING WITH OUR LOCAL AND STATE ALLIES, WE FACILITATED ECONOMIC DEVELOPMENT PROJECTS RESULTING IN 77 MILLION IN NEW CAPITAL INVESTMENT AND 1,209 DIRECT JOBS WITH AN ANNUAL ECONOMIC IMPACT OF 383 MILLION. IN PARTNERSHIP WITH THE CHARLESTON METRO CHAMBER OF COMMERCE, WE ALSO CONVENED HUNDREDS OF REGIONAL LEADERS TO CREATE ONE REGION, A FIVE- YEAR GLOBAL COMPETITIVENESS STRATEGY DESIGNED AS A BROAD AND INCLUSIVE APPROACH TO SUSTAINING THE REGION'S ECONOMIC MOMENTUM. 2910701 false true false true false false false false false true false false false true false true false false false false false false false false false false false false true false false false false false true false false false false false false false false true 7 0 16 true false false false false true true false X 66 66 false false false false false false false true true false false true true true true true true true true false X X THE ORGANIZATION 8437679300 4401 BELLE OAK DRIVE SUITE 420 NORTH CHARLESTON SC 29405 ANITA ZUCKER CHAIR 2.00 X X 0 0 0 TODD GALLATI CHAIR ELECT 2.00 X X 0 0 0 JEFFREY SPICER TREASURER 2.00 X X 0 0 0 LONNIE CARTER IMMEDIATE PA 2.00 X X 0 0 0 THOMAS ANDERSON DIRECTOR 0.25 X 0 0 0 RITA BERRY DIRECTOR 0.25 X 0 0 0 J MITCHELL BOHANNON DIRECTOR 0.25 X 0 0 0 DOUGLAS BOWLING DIRECTOR 0.25 X 0 0 0 PAMELA BROWNING DIRECTOR 0.25 X 0 0 0 PAUL CAMPBELL DIRECTOR 0.25 X 0 0 0 ERVETTE BROADNAX DIRECTOR 0.25 X 0 0 0 DAVID CHINNIS DIRECTOR 0.25 X 0 0 0 WILLIAM CHRISTOPHER DIRECTOR 0.25 X 0 0 0 ROBERT CLEMENT DIRECTOR 0.25 X 0 0 0 TAMMY COGHILL DIRECTOR 0.25 X 0 0 0 ELIZABETH COLBERT-BUSCH DIRECTOR 0.25 X 0 0 0 J WALKER COLEMAN DIRECTOR 0.25 X 0 0 0 BOBBY CREECH DIRECTOR 0.25 X 0 0 0 MATTHEW DEANTONIO DIRECTOR 0.25 X 0 0 0 BRYAN DERREBERRY DIRECTOR 0.25 X 0 0 0 SCOTT FENNELL DIRECTOR 0.25 X 0 0 0 FORREST W FOSHEE DIRECTOR 0.25 X 0 0 0 MARK GADDY DIRECTOR 0.25 X 0 0 0 JOSEPH GARCIA DIRECTOR 0.25 X 0 0 0 JOHN GOETTEE DIRECTOR 0.25 X 0 0 0 TIMOTHY GROW DIRECTOR 0.25 X 0 0 0 JOHN HAGERTY DIRECTOR 0.25 X 0 0 0 J DAVID HAND DIRECTOR 0.25 X 0 0 0 WILLIAM HEARN DIRECTOR 0.25 X 0 0 0 MICHAEL HEITZLER DIRECTOR 0.25 X 0 0 0 FLOYD HILL DIRECTOR 0.25 X 0 0 0 JAIRY HUNTER DIRECTOR 0.25 X 0 0 0 WILEY JOHNSON DIRECTOR 0.25 X 0 0 0 MARK LATTANZIO DIRECTOR 0.25 X 0 0 0 LARRY LAUTENSCHLAGER DIRECTOR 0.25 X 0 0 0 BILL MAHONEY DIRECTOR 0.25 X 0 0 0 DUNCAN MCGOOGAN JR DIRECTOR 0.25 X 0 0 0 JULIE MEDICH DIRECTOR 0.25 X 0 0 0 JOHN MITCHELL DIRECTOR 0.25 X 0 0 0 ELAINE M MORGAN DIRECTOR 0.25 X 0 0 0 MARC MURPHY DIRECTOR 0.25 X 0 0 0 C SCOTT NAUMOFF DIRECTOR 0.25 X 0 0 0 STEPHEN OSBORNE DIRECTOR 0.25 X 0 0 0 LINDA PAGE DIRECTOR 0.25 X 0 0 0 WILLIAM PEAGLER DIRECTOR 0.25 X 0 0 0 THOMPSON PENNEY DIRECTOR 0.25 X 0 0 0 CHRISTOPHER RANDOLPH DIRECTOR 0.25 X 0 0 0 A VICTOR RAWL DIRECTOR 0.25 X 0 0 0 MICHAEL ROBERTS DIRECTOR 0.25 X 0 0 0 EDWARD ROSE DIRECTOR 0.25 X 0 0 0 ROBERT RYAN DIRECTOR 0.25 X 0 0 0 HERBERT SASS DIRECTOR 0.25 X 0 0 0 MICHAEL SCARAFILE DIRECTOR 0.25 X 0 0 0 JACK SCHURLKNIGHT DIRECTOR 0.25 X 0 0 0 KENNETH SEEGER DIRECTOR 0.25 X 0 0 0 SCOTT SHARP DIRECTOR 0.25 X 0 0 0 MATTHEW SLOAN DIRECTOR 0.25 X 0 0 0 BERNARD STEINBERG DIRECTOR 0.25 X 0 0 0 J ELLIOTT SUMMEY DIRECTOR 0.25 X 0 0 0 R KEITH SUMMEY DIRECTOR 0.25 X 0 0 0 JOHN TECKLENBURG DIRECTOR 0.25 X 0 0 0 RUDY THOMAS DIRECTOR 0.25 X 0 0 0 ROBERT WALKER DIRECTOR 0.25 X 0 0 0 BARRY WHALEN DIRECTOR 0.25 X 0 0 0 ROBERT WHITTEN DIRECTOR 0.25 X 0 0 0 STEPHANIE YARBOROUGH DIRECTOR 0.25 X 0 0 0 DAVID GINN PRESIDENT AN 40.00 X 242375 0 28805 MICHAEL J GRANEY VP GLOB BUS 40.00 X 158325 0 25394 KAREN H KUCHENBECKER VP OPERATION 40.00 X 132950 0 21231 STEPHEN C WARNER VP GLOBAL CO 40.00 X 124275 0 20770 657925 96200 4 false true false 1703670 1754235 3457905 ANNUAL EVENT 35338 35338 35338 2330 2330 MISCELLANEOUS 900099 2720 2720 2720 3498293 35338 5050 399700 339106 60594 908818 684417 123393 101008 94948 74238 9008 11702 103026 80587 9715 12724 77841 60886 7340 9615 3644 3644 47806 38818 4781 4207 68888 56776 4737 7375 319313 319313 70091 53626 8750 7715 53979 49839 2202 1938 290914 222528 36376 32010 384383 384383 76086 58206 9511 8369 19029 14557 2379 2093 2016-2021 REGIONAL ED 241552 241552 MARKET RESEARCH 201869 201869 MEMBERSHIPS AND SPONSOR 30000 30000 3391887 2910701 221836 259350 1124621 1271136 489337 639482 158542 69272 46850 61021 698992 254342 539536 444650 55000 55000 2413886 2540561 53393 227362 2500 384277 260773 13558 154919 453728 643054 X 1548208 1366359 411950 531148 1960158 1897507 2413886 2540561 X 106406 -169057 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false 461846 115538 346308 130550 97035 33515 106596 41769 64827 444650 DEFERRED LEASE OBLIGATION 154919 OTHER LIABILITIES 154919 3535573 37280 37280 3498293 3498293 3429167 37280 37280 3391887 3391887 X true true X X X X false false false DAVID GINN PRESIDENT AND CEO 228375 14000 19074 9731 271180 MICHAEL J GRANEY VP GLOB BUS DEVELOP 157325 1000 13817 11577 183719 KAREN H KUCHENBECKER VP OPERATIONS 131950 1000 10983 10248 154181 SCHEDULE J, PAGE 1, PART I, LINE 1A CORPORATE MEMBERSHIP IN A DINING AND GOLF COURSE FACILITY USED FOR BUSINESS LUNCHES, DINNERS AND GOLF BY CEO AND OTHER EMPLOYEES HOSTING BUSINESS PROSPECTS. CHARLESTON METRO CHAMBER OF COMMERCE MEMBER/DIRECTOR 87307 RESEARCH SUPPORT false FORM 990 - ORGANIZATION'S MISSION THE CHARLESTON REGIONAL DEVELOPMENT ALLIANCE (CRDA) WAS INCORPORATED ON FEBRUARY 1, 1995 AS A PUBLIC AND PRIVATE NOT-FOR-PROFIT ECONOMIC DEVELOPMENT ORGANIZATION SUPPORTED AND LED BY THE REGION'S MOST INFLUENTIAL BUSINESS LEADERS, THREE COUNTY GOVERNMENTS, LARGEST MUNICIPALITIES, AND TOP ACADEMIC INSTITUTIONS. CRDA SERVES AS A CATALYST FOR LONG-TERM, SUSTAINABLE ECONOMIC GROWTH IN THE THREE-COUNTY CHARLESTON REGION WHICH COMPRISES BERKELEY, CHARLESTON AND DORCHESTER COUNTIES. THE ORGANIZATION LEADS A GLOBAL MARKETING EFFORT TO ATTRACT WORLD-CLASS BUSINESSES AND TALENT, AND SERVES AS A FACILITATOR FOR COMPANIES CONSIDERING THE REGION FOR COMPETITIVE EXPANSION OR LOCATION INVESTMENTS. CRDA ALSO COLLABORATES CLOSELY WITH OTHER ENTITIES TO ENSURE A GLOBALLY COMPETITIVE, SUSTAINABLE REGIONAL ECONOMY. CRDA RECEIVES ITS REVENUES FROM PRIVATE AND GOVERNMENT CONTRIBUTIONS. FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT AND THE FINANCE COMMITTEE REVIEW THE FORM 990. UPON COMPLETION, THEY PROVIDE A COPY OF THE FORM 990 TO THE BOARD OF DIRECTORS FOR APPROVAL. UPON APPROVAL, THE PRESIDENT SIGNS THE FORM 990 AND FILES THE RETURN. FORM 990, PAGE 6, PART VI, LINE 12C MONITORING IS DONE ON AN ONGOING BASIS AND OPEN DISCUSSIONS OF POTENTIAL MATTERS ARE DISCUSSED AND ADDRESSED AS NEEDED. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS PERIODICALLY CONDUCTS EVALUATIONS OF COMPETITIVE COMPENSATION FOR ITS EMPLOYEES. THE COMPENSATION COMMITTEE ANNUALLY REVIEWS AND APPROVES THE PRESIDENT'S SALARY. THE COMMITTEE PROVIDES GUIDELINES ON STAFF COMPENSATION AND LINKS THEM TO PERFORMANCE AND OUTCOMES. FORM 990, PAGE 6, PART VI, LINE 15B THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS PERIODICALLY CONDUCTS EVALUATIONS OF COMPETITIVE COMPENSATION FOR ITS EMPLOYEES. THE COMPENSATION COMMITTEE ANNUALLY REVIEWS AND APPROVES THE PRESIDENT'S SALARY. THE COMMITTEE PROVIDES GUIDELINES ON STAFF COMPENSATION AND LINKS THEM TO PERFORMANCE AND OUTCOMES. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION AT THE COMPANY'S CORPORATE OFFICES. FORM 990, PART XI, LINE 9 PRIOR PERIOD ADJUSTMENTS: DURING THE YEAR ENDED JUNE 30, 2016, THE CRDA MADE ADJUSTMENTS TO ITS FINANCIAL STATEMENTS TO ACCOUNT FOR ITS FACILITY OPERATING LEASE IN ACCORDANCE WITH ASC 840 - LEASES. THIS STANDARD REQUIRES THE CRDA TO RECOGNIZE ITS LONG-TERM OPERATING LEASE EXPENSE ON A STRAIGHT-LINE BASIS OVER THE TERM OF THE OPERATING LEASE. THIS ACCOUNTING RECOGNITION RESULTS IN UNIFORM ANNUAL LEASE EXPENSE RECOGNITION OVER THE TERM OF THE LEASE, AND THE RECOGNITION OF A DEFERRED LEASE OBLIGATION FOR THE DIFFERENCE IN ACTUAL LEASE PAYMENTS MADE, AND THE STRAIGHT-LINE EXPENSE RECOGNITION REQUIRED. AS A RESULT OF THIS RESTATEMENT, THE CRDA RECOGNIZED AT JULY 1, 2015 AN INCREASE IN DEFERRED LEASE OBLIGATION AND A REDUCTION TO UNRESTRICTED NET ASSETS OF 141,943. THIS DEFERRED LEASE OBLIGATION WILL FULLY AMORTIZE OVER THE TERM OF THE LEASE. DURING THE YEAR ENDED JUNE 30, 2016, THE CRDA ALSO MADE A RESTATEMENT TO THE DEPRECIABLE LIFE OF A SERIES OF LEASEHOLD IMPROVEMENT ASSETS ASSOCIATED WITH ITS LEASED OFFICE FACILITY. THESE IMPROVEMENTS WERE PREVIOUSLY DEPRECIATED OVER A USEFUL LIFE OF 39 YEARS, AND WERE RESTATED TO A USEFUL LIFE OF 15 YEARS. UNDER ACCOUNTING STANDARDS GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, SUCH IMPROVEMENTS SHOULD BE DEPRECIATED OVER THE SHORTER OF THEIR USEFUL LIVES OR THE REMAINING TERM OF THE ASSOCIATED FACILITY OPERATING LEASE (WITH REASONABLE CONSIDERATION OF EXTENSION). AS A RESULT OF THIS RESTATEMENT, THE CRDA RECOGNIZED AT JULY 1, 2015, AN INCREASE IN ACCUMULATED DEPRECIATION AND A DECREASE IN UNRESTRICTED NET ASSETS OF 27,114.