Charleston Redevelopment Corporation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
To facilitate, develop, and advocate for neighborhood revitalization, affordable housing construction, preservation and economic development in Charleston County.
- Income
- $3.0 million
- Spending
- $1.5 million
- Spent on programs
- 96%
- Reserves
- 55.3 months of spending
- Largest source of income
- government grants, 58%
- Employees
- 1
- Volunteers
- 9
- Highest pay
- $110,418, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 80 out of 100. Higher than 61% of charities in its peer group (community improvement, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 55.3 months of spending.
Debt
10 of 20It owes 32% of what it owns.
Living within its means
15 of 15Income exceeded spending by 52% of income.
Income trend
5 of 15Income fell 14% on the year before.
Spending floor
15 of 1596% of spending went to programs and raising each dollar of donations cost 1 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 67% of charities in its peer group (community improvement, $1m to $10m).
Independent board
25 of 259 of 9 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $1.4 million spent. The CRC is a non-profit organization focused on the development and preservation of affordable housing in the Charleston area and helps secure local, state and national funding for long-term housing affordability. The CRC is organized to leverage funding to facilitate, develop, and advocate for neighborhood revitalization, housing construction, preservation and economic development throughout Charleston County. Working in concert with Development Partners and Local Units of Government.(Continued on Schedule O)The CRC operates three (3) Loan Programs, an affordable housing loan program for developers, Common Cause Rehabilitation Loan Program, and provides Consumer Down Payment Assistance Loans designed to remove financial barriers that hinder the development of affordable housing.The CRC operates the Palmetto Community Land Trust, which provides long term affordability to approximately Two Hundred (200) housing units being planned, constructed, or preserved. The Land Trust places land in long-term trust protection to ensure affordability and accessibility for future generations. The Palmetto Community Land Trust (PCLT) is a program of the Charleston Redevelopment Corporation (CRC), a private 501c3 nonprofit corporation governed by an all-volunteer board of directors.- The CRC's approach to affordable homeownership is a community focused effort. Our dedication to the community is highlighted by our board, which maintains 1/3 representation by low to moderate income persons or residents of low-income neighborhoods.- Community control of land is maintained where the Trust retains ownership of the land and conveys ownership of the improvements to an individual via a 99-year long-term renewable ground lease that can be inherited by future generations.- Single family detached and multi-family housing is removed from the speculative market to restrict price appreciation and to maintain long-term affordability, both in ownership and rental housing.- Preserves public and private subsidies by managing price appreciation, retaining community value, and recycling the subsidy, land, and affordable units for future generations. The resale price of PCLT properties is capped by a formula to ensure affordability remains with the property owner.- Allows local control of the community's housing future to build a long-term relationship with homeowners.- Large scale development is possible through joint venture development and public-private partnerships.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since January 2012.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.