Palmetto United Futbol Club
Palmetto United Futbol Club's revenue plummeted to $742 in 2022, facing an $18,108 deficit.
EIN: 202890046 · Fort Mill, SC · NTEE: N64 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $742 |
| Total Expenses | $18K |
| Program Spending | 75% |
| Net Assets | $50K |
| Transparency Score | 45/100 |
Is Palmetto United Futbol Club Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Palmetto United Futbol Club directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Palmetto United Futbol Club
Palmetto United Futbol Club (EIN: 202890046) is a nonprofit organization based in Fort Mill, SC, classified under NTEE code N64. The organization reported total revenue of $742 and total assets of $50K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palmetto United Futbol Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Palmetto United Futbol Club is a micro nonprofit that has been operating for 17 years, with 11 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of -41.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $742 |
| Total Expenses | $18K |
| Surplus / Deficit | $-17,366 |
| Total Assets | $50K |
| Net Assets | $50K |
| Operating Margin | -2340.4% |
| Months of Reserves | 33.4 months |
Financial Health Grade: B
In 2022, Palmetto United Futbol Club reported a deficit of $17K with expenses exceeding revenue, holds 33.4 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2011–2022), Palmetto United Futbol Club's revenue has declined at a compound annual growth rate (CAGR) of -41.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -99.3% | -82.9% | -25.6% |
| 2021 | +1.8% | +17.9% | +11.2% |
| 2020 | +19.8% | -1.4% | +52.7% |
| 2019 | +1.2% | +39.1% | +3.6% |
| 2018 | -0.6% | -19.8% | +206.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Palmetto United Futbol Club with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Palmetto United Futbol Club allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $17K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating a volunteer-led organization or that compensation falls below reporting thresholds, which is positive for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Palmetto United Futbol Club's IRS 990 filings:
- Dramatic revenue decline from $112,991 to $742 in the latest period (202204)
- Significant operational deficit of $17,366 in the latest period ($742 revenue vs. $18,108 expenses)
- Decreasing assets from $67,785 in 2021 to $50,419 in 2022, indicating reliance on reserves.
Strengths
The following positive indicators were identified for Palmetto United Futbol Club:
- Consistent history of 0% officer compensation, indicating volunteer leadership.
- No reported liabilities in recent years (2017-2022), suggesting good debt management.
- Maintained positive assets ($50,419) despite recent financial challenges.
Frequently Asked Questions about Palmetto United Futbol Club
Is Palmetto United Futbol Club a legitimate charity?
Palmetto United Futbol Club (EIN: 202890046) is a registered tax-exempt nonprofit based in South Carolina. Our AI analysis gives it a Mission Score of 45/100. It has 11 years of IRS 990 filings on record. Total revenue: $742. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Palmetto United Futbol Club spend its money?
Palmetto United Futbol Club directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Palmetto United Futbol Club tax-deductible?
Palmetto United Futbol Club is registered as a tax-exempt nonprofit (EIN: 202890046). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Palmetto United Futbol Club's spending goes to programs?
Palmetto United Futbol Club directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Palmetto United Futbol Club compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Palmetto United Futbol Club is near average for NTEE category N64 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Palmetto United Futbol Club located?
Palmetto United Futbol Club is headquartered in Fort Mill, South Carolina and files with the IRS under EIN 202890046. It is classified under NTEE code N64.
How many years of IRS 990 filings does Palmetto United Futbol Club have?
Palmetto United Futbol Club has 11 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 $742 in total revenue.
Is Palmetto United Futbol Club a good charity?
The organization's financial health has significantly deteriorated in its latest filing (202204), with revenue of only $742 against expenses of $18,108. While it historically operated with positive net income and no officer compensation, its current financial state raises serious concerns about its ability to sustain operations and fulfill its mission.
What caused the drastic drop in revenue from $112,991 in 2021 to $742 in 2022?
The provided data does not specify the exact cause, but such a dramatic decline in revenue (from $112,991 to $742) suggests a significant change in operations, funding sources, or a potential reporting anomaly. Further investigation into their activities during that period would be necessary.
How does the organization plan to address its current financial deficit?
The IRS 990 data does not provide forward-looking plans. With expenses of $18,108 and revenue of only $742 in the latest period, the organization faces a substantial operational deficit that needs to be addressed through increased revenue or reduced spending.
Filing History
IRS 990 filing history for Palmetto United Futbol Club showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2022), Palmetto United Futbol Club's revenue has declined by 99.7%, moving from $279K to $742. Total assets increased by 32.6% over the same period, from $38K to $50K. Total functional expenses fell by 93.3%, from $270K to $18K. In its most recent filing year (2022), Palmetto United Futbol Club reported a deficit of $17K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $742 | $18K | $50K | $0 | — | — |
| 2021 | $113K | $106K | $68K | $0 | — | View 990 |
| 2020 | $111K | $90K | $61K | $0 | — | View 990 |
| 2019 | $93K | $91K | $40K | $0 | — | View 990 |
| 2018 | $92K | $66K | $39K | $0 | — | View 990 |
| 2017 | $92K | $82K | $13K | $0 | — | View 990 |
| 2015 | $247K | $195K | $56K | $16K | — | View 990 |
| 2014 | $375K | $434K | $8K | $20K | — | View 990 |
| 2013 | $671K | $670K | $55K | $7K | — | View 990 |
| 2012 | $505K | $496K | $65K | $18K | — | View 990 |
| 2011 | $279K | $270K | $38K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $742, expenses of $18K, and assets of $50K (revenue -99.3% year-over-year).
- 2021: Revenue of $113K, expenses of $106K, and assets of $68K (revenue +1.8% year-over-year).
- 2020: Revenue of $111K, expenses of $90K, and assets of $61K (revenue +19.8% year-over-year).
- 2019: Revenue of $93K, expenses of $91K, and assets of $40K (revenue +1.2% year-over-year).
- 2018: Revenue of $92K, expenses of $66K, and assets of $39K (revenue -0.6% year-over-year).
- 2017: Revenue of $92K, expenses of $82K, and assets of $13K (revenue -62.7% year-over-year).
- 2015: Revenue of $247K, expenses of $195K, and assets of $56K (revenue -34.0% year-over-year).
- 2014: Revenue of $375K, expenses of $434K, and assets of $8K (revenue -44.1% year-over-year).
- 2013: Revenue of $671K, expenses of $670K, and assets of $55K (revenue +32.7% year-over-year).
- 2012: Revenue of $505K, expenses of $496K, and assets of $65K (revenue +81.1% year-over-year).
- 2011: Revenue of $279K, expenses of $270K, and assets of $38K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Palmetto United Futbol Club:
Data Sources and Methodology
This transparency report for Palmetto United Futbol Club 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.