Palmetto City Ballet

Nonprofit profile at a glance

EIN
465203899
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Mt Pleasant, SC, USA
Phone
8438644809
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$217,788
Expenses
$170,365
Assets
$277,863
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Jonathan Tabbert (Artistic Director and CEO)

Highest reported compensation

  • Jonathan Tabbert (Artistic Director and CEO): $5,950 total reported compensation
  • Stephen Gabriel (Artistic Associate): $4,000 total reported compensation

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

Overview

Mission

Fine Arts Dance Performance

What it reported doing in 2024

Dance Performances for the 2024-2025 Season to the General Public Totaling over 6000 patrons

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 90
  • Accountability: 5
  • Sustainability: 64
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73%; rating input score 73
  • Program expense ratio: 93.4%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.8%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 1.63; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 12.6% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 23.9% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 73% of revenue deployed · 93.4% of spending went to programs
  • Governance: 0 of 3 board members independent · 1 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $159K in reported program spending
  • Leadership: top reported pay $6K · 5 people listed
  • Consistency: 40 of 40 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.