PALMETTO STATE LITERACY ASSOCIATON (EIN 237274647) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2011

Legal Domicile

Principal Officer

GEORGE E MARSHALL JR

Phone

8648336021

Tax Period

2024-07-01 to 2025-06-30

PALMETTO STATE LITERACY ASSOCIATON, founded in 2011, is a small nonprofit in the Education sector that reported $278K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $338K exceeded revenue, resulting in a 22% operating deficit.

Mission

THE S.C. STATE COUNCIL OF THE INTERNATIONAL READING ASSOCIATION (THE COUNCIL) PROVIDES A FORUM FOR INDIVIDUALS WHO ARE CONCERNED WITH THE TEACHING AND IMPROVMENT OF READING IN SOUTH CAROLINA. THE COUNCIL'S PRIMARY COMMITMENT IS TO PROMOTE LITERACY THROUGH THE IMPROVEMENT OF READING INSTRUCTION, TO ENCOURAGE READING AS A LIFETIME TOOL FOR LEARNING, AND TO FOSTER THE FORMATION OF THE READING HABIT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $17,656

Program Service Revenue $254,490

Investment Income $5,408

Other Revenue $542

TOTAL REVENUE $278,096

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $76

Program Expenses $308,794

Other Expenses $338,446

TOTAL EXPENSES $338,446

Year-over-Year Comparison

	2024	2023	Change
Revenue	$278,096	$303,184	-0.1%
Expenses	$338,446	$374,285	-0.1%
Net Income	$-60,350	$-71,101	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$12,000

Total Directors

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KRYSTAL TURNER	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHELLE RICHARDSON	PRESIDENT EL	1.00	Officer Director	$0	$0	$0
VIRGINIA SCATES	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
KAYE JAMISON	IMMED PAST P	1.00	Officer Director	$0	$0	$0
MISSY LARK	STATE COORDI	1.00	Director	$0	$0	$0
MELISSA NICHOLASON	MEMBERSHIP D	1.00	Officer Director	$0	$0	$0
GEORGE E MARSHALL JR	TREASURER	1.00	Officer Director	$12,000	$0	$12,000
JEAN BREWINGTON	CONFERENCE C	1.00	Officer Director	$0	$0	$0
ASHLEY PACK	SECRETARY	1.00	Officer Director	$0	$0	$0
PEGGY BING-O'BANNER	BOARD MEMBER	1.00	Director	$0	$0	$0
TONJA JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ASHLEY BLACK	BOARD MEMBER	1.00	Director	$0	$0	$0
REBECCA BURRIS	BOARD MEMBER	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$278,096	$338,446	$312,865	$-60,350
2024	$303,184	$374,285	$360,812	$-71,101
2023	$321,903	$386,044	$411,313	$-64,141
2022	$219,116	$280,540	$473,339	$-61,424
2021	$22,313	$46,691	$565,370	$-24,378
2020	$250,767	$232,142	$568,527	$18,625
2018	$288,236	$213,759	$598,865	$74,477

PALMETTO STATE LITERACY ASSOCIATON