EIN 45-1998194

Westedge Foundation

IRS 501(c) type
501(c)(3)
Num. employees
1
Year formed
2011
Most recent tax filings
2023-06-01
Description
Westedge is a bold economic and urban revitalization vision to advance knowledge-based sectors of the charleston, south carolina regional economy. To support the city of charleston and the medical university of south carolina and the medical university of south carolina Foundation.
Total revenues
$840,428
2023
Total expenses
$1,488,436
2023
Total assets
$13,690,092
2023
Num. employees
1
2023

Program areas at Westedge Foundation

The Westedge Foundation promotes economic development and neighborhood improvement to advance the collective vision and strengthen our community. We measure our collective progress in accomplishing this portion of our mission by:- improving the quality of life in the surrounding neighborhoods by making supportive investments, managed development, and increased opportunity.- advocating inclusion and improving our community by removing barriers to success and investing in public infrastructure to address local challenges.- Westedge has attracted large and small businesses, generating new jobs and promoting local prosperity.local economy:-increasing property tax revenues, business license revenues and sales tax revenues to help fund long-term investments in public services and schools.-tif district dedicates incremental property tax revenues into public investments in infrastructure, drainage, and other public amenities directly in and around the Westedge district.expanding access & closing the grocery gap:-prior to Westedge, the west side of the peninsula was a food desert. Publix super market increases access to healthy and affordable food options for all residents of the west side of the peninsula, especially lower income, and elderly residents. Adding more options for community services helps further advance the local neighborhood.-improving safe routes to schools and other support for students at burke high school and charleston development academy.housing:-developing Westedge to ensure there is zero displacement of area's existing residents.-increasing charleston's affordable housing: Westedge project partners have already contributed $3.0 million to affordable housing; full build-out could add over $7.0 million and/or create even more workforce housing units.-increasing the number and diversity of housing opportunities close to employment centers like the medical district.
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.
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.

Personnel at Westedge Foundation

NameTitleCompensation
Michael T MaherChief Executive Officer$199,935
Michael T Maher HpfPast Chief Executive Officer$183,339
Kevin LuzakVice Chair$0
Matt FrohlichSecretary$0
Cheryl KaynardChair$0
...and 4 more key personnel

Financials for Westedge Foundation

RevenuesFYE 06/2023
Total grants, contributions, etc.$0
Program services$0
Investment income and dividends$38,540
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$801,888
Total revenues$840,428

Form 990s for Westedge Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-062024-02-20990View PDF
2022-062023-02-06990View PDF
2021-062022-03-02990View PDF
2021-062022-02-22990View PDF
2020-062021-05-05990View PDF
...and 3 more Form 990s
Data update history
May 20, 2024
Used new vendors
Identified 1 new vendor, including
June 19, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 9, 2023
Updated personnel
Identified 4 new personnel
February 3, 2023
Posted financials
Added Form 990 for fiscal year 2021
August 21, 2021
Posted financials
Added Form 990 for fiscal year 2019
Nonprofit Types
Grantmaking organizationsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
State / local levelTax deductible donations
General information
Address
PO Box 20549
Charleston, SC 29413
Metro area
Charleston-North Charleston, SC
County
Charleston County, SC
Phone
(843) 209-4939
IRS details
EIN
45-1998194
Fiscal year end
June
Taxreturn type
Form 990
Year formed
2011
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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