Palmetto Charter School Inc

Nonprofit profile at a glance

EIN
800447761
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Palmetto, FL, USA
Phone
9417233711
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$5,509,167
Expenses
$5,185,730
Assets
$12,227,858
Liabilities
$9,604,913

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

Leadership & pay

6 people listed

People named in this filing

  • Kelli Douglas (Secretary)
  • Michelle Biggers (Treasurer)
  • Mike Mears (Chairperson)

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

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

Overview

Mission

The mission of the school is to create a superior learning environment founded upon the shared values of hard work, honor, self-discipline, and community and parental involvement, with the purpose of preparing students for academic and social success, in high school and beyond.

What it reported doing in 2024

Grades K-8 ClassroomsPalmetto Charter School offers a rigorous academic program that is designed to prepare students for success in Honors and other Advanced Level classes at the high school level. Palmetto Charter school provides instruction for grades K-8.Palmetto Charter School continues to be among the highest test scores in thecounty. In addition, Palmetto Charter has a robust athletic program for ourmiddle school students and is consistently a top performer in our league, withchampionships in football, cross country, basketball and volleyball. OurJunior Beta Club excelled at the regional and national level this yearreceiving many various awards and recognition.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.2%; rating input score 77
  • Program expense ratio: 83.2%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.9%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 2.36; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 7.2% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 16.4% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 77.2% of revenue deployed · 83.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $4.3M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 14 filing years from 2011 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.

  • Review — Sustainability: Operating margin scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.