Palmetto Housing Corporation
EIN: 582474615 · Florence, SC · NTEE: L20
About Palmetto Housing Corporation
Palmetto Housing Corporation (EIN: 582474615) is a nonprofit organization based in Florence, SC, classified under NTEE code L20. The organization reported total revenue of $109K and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palmetto Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Palmetto Housing Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Palmetto Housing Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Filing History
IRS 990 filing history for Palmetto Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Palmetto Housing Corporation's revenue has declined by 30.7%, moving from $179K to $124K. Total assets increased by 264.1% over the same period, from $593K to $2.2M. Total functional expenses fell by 58.6%, from $197K to $82K. In its most recent filing year (2023), Palmetto Housing Corporation reported a surplus of $42K, with revenue exceeding expenses. The organization holds $653K in liabilities against $2.2M in assets (debt-to-asset ratio: 30.2%), resulting in net assets of $1.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $124K | $82K | $2.2M | $653K | — | View 990 |
| 2022 | $122K | $2.2M | $2.1M | $656K | — | View 990 |
| 2021 | $116K | $574K | $3.8M | $300K | — | — |
| 2020 | $127K | $182K | $4.2M | $292K | — | View 990 |
| 2019 | $142K | $50K | $4.3M | $302K | — | View 990 |
| 2018 | $104K | $13K | $4.2M | $273K | — | View 990 |
| 2017 | $113K | $21K | $4.1M | $246K | — | View 990 |
| 2016 | $2.2M | $11K | $4.0M | $217K | — | View 990 |
| 2015 | $44K | $46K | $1.7M | $182K | — | View 990 |
| 2014 | $893K | $37K | $1.7M | $91K | — | View 990 |
| 2013 | $133K | $39K | $839K | $97K | — | View 990 |
| 2012 | $222K | $115K | $721K | $73K | — | View 990 |
| 2011 | $179K | $197K | $593K | $54K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $124K, expenses of $82K, and assets of $2.2M (revenue +1.3% year-over-year).
- 2022: Revenue of $122K, expenses of $2.2M, and assets of $2.1M (revenue +5.5% year-over-year).
- 2021: Revenue of $116K, expenses of $574K, and assets of $3.8M (revenue -8.5% year-over-year).
- 2020: Revenue of $127K, expenses of $182K, and assets of $4.2M (revenue -10.7% year-over-year).
- 2019: Revenue of $142K, expenses of $50K, and assets of $4.3M (revenue +37.0% year-over-year).
- 2018: Revenue of $104K, expenses of $13K, and assets of $4.2M (revenue -8.0% year-over-year).
- 2017: Revenue of $113K, expenses of $21K, and assets of $4.1M (revenue -94.9% year-over-year).
- 2016: Revenue of $2.2M, expenses of $11K, and assets of $4.0M (revenue +4937.7% year-over-year).
- 2015: Revenue of $44K, expenses of $46K, and assets of $1.7M (revenue -95.1% year-over-year).
- 2014: Revenue of $893K, expenses of $37K, and assets of $1.7M (revenue +572.5% year-over-year).
- 2013: Revenue of $133K, expenses of $39K, and assets of $839K (revenue -40.2% year-over-year).
- 2012: Revenue of $222K, expenses of $115K, and assets of $721K (revenue +24.2% year-over-year).
- 2011: Revenue of $179K, expenses of $197K, and assets of $593K.
Data Sources and Methodology
This transparency report for Palmetto Housing Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.