PALMETTO SCHOLARS ACADEMY

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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

2009

Legal Domicile

Principal Officer

RICKY REYES

Phone

8433004118

Tax Period

2024-07-01 to 2025-06-30

PALMETTO SCHOLARS ACADEMY, founded in 2009, is a community nonprofit in the Education sector that reported $6.2M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $5.3M left a modest 14% surplus.

Mission

PSA EXISTS TO MEET THE DISTINCTIVE ACADEMIC, SOCIAL, AND EMOTIONAL NEEDS OF STUDENTS BY UTILIZING THE BEST PRACTICES OF GIFTED EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $4,046,026 Revenue: $501,027

EDUCATED APPROXIMATELY 500 STUDENTS IN GRADES SIX THROUGH TWELVE DURING THE 2024-25 SCHOOL YEAR.

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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 $5,585,763

Program Service Revenue $501,527

Investment Income $103,235

Other Revenue $0

TOTAL REVENUE $6,190,525

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,117,322

Fundraising Expenses $0

Program Expenses $4,046,026

Other Expenses $2,205,019

TOTAL EXPENSES $5,322,341

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,190,525	$5,256,098	+0.2%
Expenses	$5,322,341	$5,243,779	+0.0%
Net Income	$868,184	$12,319	+69.5%

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

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

$112,132

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRANDON GUINGRICH	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
KIM SCHULTZ	VICE CHAIR	2.00	Officer Director	$0	$0	$0
BETSY BALDWIN	SECRETARY	2.00	Officer Director	$0	$0	$0
ALLEN TOPPING	TREASURER	2.00	Officer Director	$0	$0	$0
KARSTEN MCELFRESH	BOARD MEMBER	2.00	Director	$0	$0	$0
LEASIA YOUNG	BOARD MEMBER	2.00	Director	$0	$0	$0
ERICKA GIACOMO	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTINE LARUE	BOARD MEMBER	2.00	Director	$0	$0	$0
VACANT	BOARD MEMBER	2.00	Director	$0	$0	$0
RICKY REYES	PRINCIPAL	40.00	Officer	$112,132	$0	$112,132
DR KIMBERLY ZERBST	PRINCIPAL (FORMER)	40.00	Officer	$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	$6,190,525	$5,322,341	$9,518,392	$868,184
2024	No data	No data	No data	No data
2023	$5,806,094	$5,785,625	$9,134,528	$20,469
2023	$5,806,094	$5,785,625	$9,134,528	$20,469
2022	$5,087,229	$5,755,125	$9,207,434	$-667,896
2021	$5,405,525	$5,133,580	$10,012,965	$271,945
2020	$4,805,210	$4,800,106	$10,390,265	$5,104
2019	$4,655,456	$4,414,280	$9,969,087	$241,176