NonprofitsWestedge Foundation Inc

Community Improvement & Capacity Building

Westedge Foundation Inc

CHARLESTON, SC

Total revenue

$10.7M

Total expenses

$943K

Net assets

$12.7M

Grants received

EIN

451998194

Tax year

2023

Mission

To support the city of charleston and the medical university of south carolina and the medical university of south carolina foundation.

Programs

2 programs

The westedge foundation facilitates the promotion of innovation and advances our vision of a dynamic knowledge community to benefit and strengthen our key stakeholders. We measure our collective progress in accomplishing this portion of our mission by: - advancing scientific and technical discovery.- expanding employment and career opportunities. - widening participation in entrepreneurship and wealth-creation activity. - creating partnerships with higher education, adjacent public k-12 schools and innovation-driven enterprises. We accomplish our mission through strategic partnerships with our founders, collaboration with a diverse array of innovation partners, and by direct delivery of innovation infrastructure and programs. Specific accomplishments of westedge foundation's efforts include: entrepreneurship and workforce development:-westedge houses studio 22, a small business incubator/co-working space for start-up companies, especially in the technology and life science sectors.-creating state-of-the-art lab space helps grow life science businesses.-increases economic development and job creation in all sectors: over 500 new jobs have already been created in westedge in the life sciences sector.-actively serving the burke high school improvement council to establish internship and outreach programs for burke students to experience life science employment opportunities.-support and sponsorship of educational activities, such as back-to-school events at burke high and in gadsden green, stemapalooza event, and other community-driven events.

The westedge foundation mobilizes and deploys resources to invest in infrastructure to protect the health safety and welfare of the surrounding community and the public at large. We measure our progress in accomplishing this portion of our mission by:- ongoing efforts to address the increasing flooding that impacts the community, damaging property and preventing access to homes, businesses, and schools.- working to eliminate contamination exposures in the area due to degradation of the historic landfill cap, and bring perpetual health improvement to the immediate neighborhood and all of the west side of the peninsula.- improving access and mobility with new or improved auto, bicycle, pedestrian and transit facilities.we accomplish our mission through repairing existing infrastructure and building new roads, drainage, and utilities to support the needs of the area of and around the westedge district. Specific accomplishments of westedge foundation's efforts include: flooding:-design and construction to eliminate tidal sunny day flooding and reducing instances of stormwater flooding with new drainage solutions and enhanced stormwater storage capacity already in place or planned.-working to connect existing gadsden green and ashton street drainage systems to the spring fishburne deep tunnel system to reduce neighborhood flooding.-restoring reliable emergency response and evacuation routes.environment:-stopping ongoing health risks from surface exposure to contamination from landfill materials and hazardous leachate.-reducing tidal and stormwater flooding to stop conveyance of contaminants into the neighborhood, protecting gadsden green homes, charleston development academy and harmon field.-sc dhec voluntary cleanup program for all projects ensures future safety for the public and reduces ongoing liability/exposure of the city and muscf.safe access:-traffic improvements already in place improve flow and safety on lockwood blvd. And president st.-proposed medical district connector will create safer pedestrian, bicycle and transit connections to the medical district.-creating new workplaces with direct access to transit & housing significantly reduces traffic impacts.-providing a terminus location for the planned lcrt public transit system, increasing mobility options for an underserved population.-efforts to address flooding also promotes consistent access to homes, workplaces and schools.

Financials

FY 2023

Revenue

Contributions & grants$10.6M
Program service revenue
Investment income$98K
Other revenue$41K
Total revenue$10.7M

Expenses

Grants paid
Salaries & benefits$315K
Fundraising
Other expenses$628K
Total expenses$943K
Total assets$12.8M
Net assets$12.7M

People

13 listed

NameRoleCompensation

MICHAEL MAHER

CEO

Board

$215K

40 hrs/wk

CM WILLIAM D GREGORIE

CITY-APPOINTED

Board

0.7 hrs/wk

MAYOR WILLIAM COGSWELL

CITY-APPOINTED

Board

0.3 hrs/wk

STUART AMES

MUSCF-APPOINTED

Board

1.5 hrs/wk

JESSICA PAUL

MUSCF-APPOINTED

Board

0.7 hrs/wk

CAROLINE BROWN

MUSCF-APPOINTED

Board

0.3 hrs/wk

MAYOR JOHN TECKLENBURG

CITY-APPOINTED

Board

0.3 hrs/wk

JOE MCDONALD

AT-LARGE

Board

0.1 hrs/wk

CHERYL KAYNARD

CHAIR (CITY-APPOINTED)

Board

3 hrs/wk

KEVIN LUZAK

VICE CHAIR (AT-LARGE)

Board

1 hrs/wk

ROBYN FRAMPTON

TREASURER (MUSCF-APPOINTED)

Board

1.5 hrs/wk

MATT FROHLICH

SECRETARY (CITY-APPOINTED)

Board

1.7 hrs/wk

GARRY LESESNE

AT-LARGE

Board

0.1 hrs/wk

Details

EIN451998194
NTEE codeS20
Subsection03
Ruling date2011-09
Formed2011
Employees1
Volunteers12
WESTEDGE FOUNDATION INC — Mission, Financials & Grants Received | Grantivo