Palmetto Place Inc
EIN: 570969948 · Columbia, SC · NTEE: F30Z
| Metric | Value |
|---|---|
| Total Revenue | $125K |
| Total Expenses | $133K |
| Net Assets | $289K |
Is Palmetto Place Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Palmetto Place Inc
Palmetto Place Inc (EIN: 570969948) is a nonprofit organization based in Columbia, SC, classified under NTEE code F30Z. The organization reported total revenue of $125K and total assets of $319K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palmetto Place Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Palmetto Place Inc is a small nonprofit that has been operating for 33 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $109K |
| Total Expenses | $133K |
| Surplus / Deficit | $-23,972 |
| Total Assets | $325K |
| Total Liabilities | $36K |
| Net Assets | $289K |
| Operating Margin | -21.9% |
| Debt-to-Asset Ratio | 11.2% |
| Months of Reserves | 29.3 months |
Financial Health Grade: B
In 2023, Palmetto Place Inc reported a deficit of $24K with expenses exceeding revenue, holds 29.3 months of operating reserves (strong position), has a debt-to-asset ratio of 11.2% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Palmetto Place Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.4% | +7.7% | +1.1% |
| 2022 | -6.0% | +47.2% | -4.8% |
| 2021 | +12.7% | -5.2% | +8.9% |
| 2020 | +2.9% | -7.1% | -1.6% |
| 2019 | +5.6% | +4.1% | +2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Palmetto Place Inc 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 Place Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $24K, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.2%.
Frequently Asked Questions about Palmetto Place Inc
Is Palmetto Place Inc a legitimate charity?
Palmetto Place Inc (EIN: 570969948) is a registered tax-exempt nonprofit based in South Carolina. It has 14 years of IRS 990 filings on record. Total revenue: $125K. No red flags identified. Financial health grade: B.
How does Palmetto Place Inc spend its money?
Palmetto Place Inc reported $125K in total revenue in IRS 990 filings. 14 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Palmetto Place Inc tax-deductible?
Palmetto Place Inc is registered as a tax-exempt nonprofit (EIN: 570969948). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Palmetto Place Inc located?
Palmetto Place Inc is headquartered in Columbia, South Carolina and files with the IRS under EIN 570969948. It is classified under NTEE code F30Z.
How many years of IRS 990 filings does Palmetto Place Inc have?
Palmetto Place Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $125K in total revenue.
Filing History
IRS 990 filing history for Palmetto Place Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Palmetto Place Inc's revenue has grown by 54.8%, moving from $71K to $109K. Total assets decreased by 14.1% over the same period, from $379K to $325K. Total functional expenses rose by 64.9%, from $81K to $133K. In its most recent filing year (2023), Palmetto Place Inc reported a deficit of $24K, with expenses exceeding revenue. The organization holds $36K in liabilities against $325K in assets (debt-to-asset ratio: 11.2%), resulting in net assets of $289K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $109K | $133K | $325K | $36K | — | — |
| 2022 | $105K | $124K | $322K | $9K | — | View 990 |
| 2021 | $111K | $84K | $338K | $6K | — | View 990 |
| 2020 | $99K | $89K | $310K | $6K | — | — |
| 2019 | $96K | $95K | $315K | $20K | — | View 990 |
| 2018 | $91K | $92K | $308K | $14K | — | View 990 |
| 2017 | $88K | $121K | $318K | $23K | — | View 990 |
| 2016 | $90K | $85K | $335K | $513K | — | View 990 |
| 2015 | $81K | $88K | $330K | $512K | — | View 990 |
| 2014 | $82K | $93K | $342K | $517K | — | View 990 |
| 2013 | $81K | $89K | $364K | $528K | — | View 990 |
| 2012 | $79K | $89K | $356K | $512K | — | View 990 |
| 2011 | $70K | $84K | $365K | $511K | — | View 990 |
| 2010 | $71K | $81K | $379K | $511K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $109K, expenses of $133K, and assets of $325K (revenue +4.4% year-over-year).
- 2022: Revenue of $105K, expenses of $124K, and assets of $322K (revenue -6.0% year-over-year).
- 2021: Revenue of $111K, expenses of $84K, and assets of $338K (revenue +12.7% year-over-year).
- 2020: Revenue of $99K, expenses of $89K, and assets of $310K (revenue +2.9% year-over-year).
- 2019: Revenue of $96K, expenses of $95K, and assets of $315K (revenue +5.6% year-over-year).
- 2018: Revenue of $91K, expenses of $92K, and assets of $308K (revenue +2.8% year-over-year).
- 2017: Revenue of $88K, expenses of $121K, and assets of $318K (revenue -1.2% year-over-year).
- 2016: Revenue of $90K, expenses of $85K, and assets of $335K (revenue +10.8% year-over-year).
- 2015: Revenue of $81K, expenses of $88K, and assets of $330K (revenue -1.0% year-over-year).
- 2014: Revenue of $82K, expenses of $93K, and assets of $342K (revenue +0.4% year-over-year).
- 2013: Revenue of $81K, expenses of $89K, and assets of $364K (revenue +2.5% year-over-year).
- 2012: Revenue of $79K, expenses of $89K, and assets of $356K (revenue +13.3% year-over-year).
- 2011: Revenue of $70K, expenses of $84K, and assets of $365K (revenue -0.9% year-over-year).
- 2010: Revenue of $71K, expenses of $81K, and assets of $379K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Palmetto Place Inc:
Data Sources and Methodology
This transparency report for Palmetto Place Inc 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.