Palmetto Business Association

Nonprofit profile at a glance

EIN
571046059
IRS 990-EZ coverage
2021–2024
Forms available
Form 990 2020, Form 990-EZ 2024, Form 990-N 2017
Location
Williamston, SC, USA
Phone
8646175390
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$28,285
Expenses
$32,640
Assets
$31,311

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • CAROLANN NEWTON (PRESIDENT)
  • MELANIE DUGAN (VICE PRESIDENT)

People named in this filing

  • CAROLANN NEWTON (PRESIDENT)
  • MELANIE DUGAN (VICE PRESIDENT)
  • LAUREN MARVIN (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community improvements while creating awareness for the local businesses and services in our small yet fast growing town.

What it reported doing in 2024

Provided multiple sponsorships and funding for the community, its businesses and residents.. Promoted the businesses through events, sinage, and sponsorships.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Hybrid. The nonprofit split its reported program spending across 64% for direct work, and 36% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 82
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.7%; rating input score 92
  • Program expense ratio: 79.5%; rating input score 79

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -15.4%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.96; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 51.5% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 28% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 20.9% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 91.7% of revenue deployed · 79.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $26K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 6 of 7 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 26/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.