Palmetto Dunes Property Owners Association Inc

What it reported doing in 2024

Road maintenance and storm drain maintenance - the association owns 26 miles of roads, and is fully responsible for the maintenance, repair, and reconstruction of these roads. The association's road maintenance activities promote the general welfare of the community and because road maintenance is an essential governmental function, the activities lessen the burden of the town of hilton head island.the sea lane bridge was replaced, including realignment of the roadway and leisure pathway, integration of significant landscaping enhancements, and infrastructure improvements to accommodate future stormwater management initiatives along the mooring buoy corridor.beach access pathways at brigantine/cat boat and flotilla/galleon converted from stairs to ramps to improve ease of use. The addition of a mobi-mat nonslip beach path mat to improve safety and accessibility at the dunes house beach access for people with disabilities or parents with strollers.redevelopment of dunes house lane and parking areas to improve safety and accessibility. Planned improvements include new road and parking surfaces, relocated parking for handicapped users, dedicated spaces for bicycles, compact vehicles, and the dunes buggy, the establishment of inbound and outbound drive aisles to increase accessibility for emergency vehicles, and the integration of additional parking spaces.redevelopment of the mooring buoy corridor (from sea lane to port tack), including roadway realignment and reconstruction, significant reconfiguration of the leisure path to improve accessibility and safety, new stormwater drainage infrastructure, and improvement of the broad creek psd utilities.

Financial Efficiency

• Mission deployment rate: 60.7%; rating input score 61
• Program expense ratio: 90.2%; rating input score 90
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• 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; 66th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 25.7%; rating input score 86; 86th percentile among comparable filings
• Total-asset coverage ratio: 5.77; rating input score 86; 86th percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 85; 85th percentile among comparable filings
• Officer compensation ratio: 11%; rating input score 17; 17th percentile among comparable filings

Growth

• Program expense growth: 7.4% per year; rating input score 100; 58th percentile among comparable filings
• Revenue growth: 7% per year; rating input score 100; 59th percentile among comparable filings
• Asset growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings