Palmetto Youth Center Inc

Nonprofit profile at a glance

EIN
591090377
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
Palmetto, FL, USA
Phone
9417230783
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$783,187
Expenses
$835,582
Assets
$640,397
Liabilities
$70,956

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

Leadership & pay

4 people listed

Executive titles in this filing

  • REGINALD BELLAMY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • REGINALD BELLAMY (EXECUTIVE DIRECTOR): $60,000 total reported compensation

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

Overview

Mission

To provide a safe and wholesome environment in our community where its members, young and old, can learn, achieve and succeed in positive and productive ways. We target our youth before they are introduced to drugs, crimes and other unhealty lifestyles. We attempt to establish a strong foundation of high morals and values through programs designed for academic, athletic, cultural, recreational and social proficiency.

What it reported doing in 2024

Boys life after school training is an all-male mentoring program to impact elementary, middle and high school students for academic achievement, goal setting and career planning. This program will meet once a week focusing on organization skills preparing participants to be successful and have a plan for life after school. The athletic program includes the various competitive athletic teams at the center. We have the elite of Florida football/cheering (5-16), ussa basketball for girls and boys (10-16). Teams are formulated by age and compete against other youth serving organizations within the county and other organizations throughout the state. In these programs we seek to improve a child's self-esteem, confidence and teamwork skills. These at risk boys and girls also must maintain acceptable academic grades to remain eligible for these activities. The football season lasts from august to december, basketball from december to july. The volunteers that serve as coaches and instructors in these programs have to pass background checks and attend coaches clinics to become certified. The athletic programs operate monday through friday 5:00pm to 8:00pm, as well as some weekend days from 8:00am to 9:00pm.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 30
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 84%; rating input score 84
  • Fundraising efficiency: $105.65 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.7%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 84% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $702K in reported program spending
  • Leadership: top reported pay $60K · 4 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 21/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.