Incorporated in 1997 the East Cooper Outboard Beneficent Group (ECOBG) is a wholly owned subsidiary of the East Cooper Outboard Motor Club and is a 501-C(3) tax exempt organization. Upon incorporation, title to Gold Bug Island and the various amenities was transferred to ECOBG and the property is held in trust for the benefit of the members and managed to create income through lease payments and donations to be used for upkeep of the property and contributions to charity.
The organization’s giving focus has been to charities in the Charleston area in general and the east Cooper area in particular. Since 1998, the ECOBG has donated nearly 100% of its annual income to various local charities totaling over $153,000. On an annual basis there have been numerous recipients but the College of Charleston, East Copper Meals on Wheels, East Copper Community Outreach and Windwood Farm for Children have been among the primary recipients each receiving over $20,000 during the Groups fourteen year existence.
In recent years, due to excellent property management by the ECOMC executive board funds available to ECOBG for donations have averaged $16,000 annually. Successful donation recipients must meet several criteria including: being registered as a charity with the SC Secretary of State, utilizing at least 90% of donations for programmatic expenses and being compatible with the goals and objectives of the ECOBG.