Palmetto Works Community Development Corporation

Nonprofit profile at a glance

EIN
264805210
IRS 990-EZ coverage
2020–2025
Forms available
Form 990-EZ 2025, Form 990-N 2014
Location
Conway, SC, USA
Phone
8433331911
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Community Coalitions

Reported finances

Revenue
$139,984
Expenses
$119,838
Assets
$79,898
Liabilities
$1,400

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • CHERYL ADAMSON (EXECUTIVE DIRECTOR)

People named in this filing

  • CHERYL ADAMSON (EXECUTIVE DIRECTOR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide economic development for individuals and families in our community.

What it reported doing in 2025

See schedule o.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 82
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

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

Sustainability

  • Operating margin: 14.4%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0.67; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: -60.9% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 17.8% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 41.8% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2025
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.