Palmetto Project Inc
EIN: 570807801 · N Charleston, SC
Is Palmetto Project 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 Project Inc
Palmetto Project Inc (EIN: 570807801) is a nonprofit organization based in N Charleston, SC. The organization reported total revenue of $2.3M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palmetto Project Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Palmetto Project 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 Project 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.
Frequently Asked Questions about Palmetto Project Inc
Is Palmetto Project Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Palmetto Project Inc (EIN: 570807801) insufficient data. 0 red flags identified, 0 strengths noted.
How does Palmetto Project Inc spend its money?
Detailed spending breakdown data is not yet available for Palmetto Project Inc. Check back for updated IRS 990 analysis.
Are donations to Palmetto Project Inc tax-deductible?
Palmetto Project Inc is registered as a tax-exempt nonprofit (EIN: 570807801). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Palmetto Project Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Palmetto Project Inc's revenue has grown by 191.9%, moving from $1.0M to $2.9M. Total assets increased by 907.3% over the same period, from $185K to $1.9M. Total functional expenses rose by 162.2%, from $963K to $2.5M. In its most recent filing year (2023), Palmetto Project Inc reported a surplus of $425K, with revenue exceeding expenses. The organization holds $406K in liabilities against $1.9M in assets (debt-to-asset ratio: 21.8%), resulting in net assets of $1.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.9M | $2.5M | $1.9M | $406K | — | — |
| 2022 | $2.3M | $2.1M | $1.5M | $511K | — | View 990 |
| 2021 | $1.6M | $1.4M | $1.1M | $328K | — | View 990 |
| 2020 | $1.3M | $1.5M | $1.1M | $524K | — | View 990 |
| 2019 | $1.1M | $1.3M | $1.1M | $264K | — | View 990 |
| 2018 | $1.2M | $1.5M | $1.2M | $300K | — | View 990 |
| 2017 | $1.9M | $2.5M | $1.3M | $93K | — | View 990 |
| 2016 | $2.4M | $2.3M | $2.0M | $86K | — | View 990 |
| 2015 | $4.0M | $2.3M | $1.9M | $171K | — | View 990 |
| 2014 | $1.3M | $1.5M | $174K | $145K | — | View 990 |
| 2013 | $1.2M | $1.1M | $348K | $114K | — | View 990 |
| 2012 | $756K | $695K | $255K | $107K | — | View 990 |
| 2011 | $1.0M | $963K | $185K | $97K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.9M, expenses of $2.5M, and assets of $1.9M (revenue +30.2% year-over-year).
- 2022: Revenue of $2.3M, expenses of $2.1M, and assets of $1.5M (revenue +43.1% year-over-year).
- 2021: Revenue of $1.6M, expenses of $1.4M, and assets of $1.1M (revenue +25.7% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.5M, and assets of $1.1M (revenue +14.3% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.3M, and assets of $1.1M (revenue -11.5% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.5M, and assets of $1.2M (revenue -32.7% year-over-year).
- 2017: Revenue of $1.9M, expenses of $2.5M, and assets of $1.3M (revenue -22.8% year-over-year).
- 2016: Revenue of $2.4M, expenses of $2.3M, and assets of $2.0M (revenue -40.5% year-over-year).
- 2015: Revenue of $4.0M, expenses of $2.3M, and assets of $1.9M (revenue +205.9% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.5M, and assets of $174K (revenue +11.9% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.1M, and assets of $348K (revenue +55.7% year-over-year).
- 2012: Revenue of $756K, expenses of $695K, and assets of $255K (revenue -25.2% year-over-year).
- 2011: Revenue of $1.0M, expenses of $963K, and assets of $185K.
Data Sources and Methodology
This transparency report for Palmetto Project 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.