PALMETTO GOODWILL (EIN 474183942) - 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

2015

Legal Domicile

Principal Officer

JACKIE DRAWS

Phone

8778295500

Tax Period

2024-01-01 to 2024-12-31

PALMETTO GOODWILL, founded in 2015, is a mid-sized nonprofit in the Human Services sector that reported $65.1M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $11.1M, a strong 17% operating margin.

Mission

PALMETTO GOODWILL IS CHANGING LIVES BY PROVIDING EQUITABLE ACCESS TO TRAINING, EDUCATION, AND EMPLOYMENT. PALMETTO GOODWILL IS A LOCAL AUTONOMOUS MEMBER OF GOODWILL INDUSTRIES INTERNATIONAL THAT PROVIDES EDUCATION, JOB READINESS, AND OCCUPATIONAL SKILLS TRAINING TO UNEMPLOYED AND UNDEREMPLOYED INDIVIDUALS IN 18 COUNTIES OF SOUTH CAROLINA. PALMETTO GOODWILL, ESTABLISHED IN 1979, HAS OPERATED THE "SOCIAL ENTERPRISE" MODEL THROUGHOUT ITS EXISTENCE, IN THE LAST DECADE EXPANDING ITS REVENUE SOURCES BEYOND RETAIL REVENUES TO INCLUDE COMMUNITY INVESTMENT AND PRIVATE AND CORPORATE FUNDERS. IN 2024, PALMETTO GOODWILL OPERATED 33 RETAIL STORES WHICH SUPPORTED WORKFORCE DEVELOPMENT PROGRAMS THAT EDUCATED, TRAINED, AND EMPLOYED THOUSANDS OF COMMUNITY MEMBERS. THESE SERVICES WERE PROVIDED VIRTUALLY AND IN PERSON THROUGH A NETWORK OF TEN (10) CAREER OPPORTUNITY CENTERS, INCLUDING A MOBILE CAREER OPPORTUNITY CENTER.

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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 $23,668,310

Program Service Revenue $1,492,911

Investment Income $2,437,246

Other Revenue $37,489,245

TOTAL REVENUE $65,087,712

Expense Breakdown

Grants Paid $580,134

Salaries & Benefits $33,239,397

Fundraising Expenses $138,050

Program Expenses $47,550,714

Other Expenses $20,021,403

TOTAL EXPENSES $53,978,984

Year-over-Year Comparison

	2024	2023	Change
Revenue	$65,087,712	$60,064,899	+0.1%
Expenses	$53,978,984	$48,216,487	+0.1%
Net Income	$11,108,728	$11,848,412	-0.1%

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

2100

Volunteers

592

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

$1,701,161

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHARINE ALMQUIST	DIRECTOR	1.00	Director	$0	$0	$0
REGGIE BURGESS	DIRECTOR	1.00	Director	$0	$0	$0
LEANDRO CASSOLO	DIRECTOR	1.00	Director	$0	$0	$0
NINA MAGNESSON	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE LYNCH	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE DEMENT	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL D MOXLEY MD FACOG	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE WOODHULL	DIRECTOR	1.00	Director	$0	$0	$0
ERICA WRIGHT	DIRECTOR	1.00	Director	$0	$0	$0
LAURYCE GRAVES-MCIVER	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW PECOY	DIRECTOR	1.00	Director	$0	$0	$0
VICTOR RIVERA	DIRECTOR	1.00	Director	$0	$0	$0
HERBERT L DRAYTON III	CHAIR	1.00	Officer Director	$0	$0	$0
DARRYL BROWN	INCOMING CHAIR	1.00	Officer Director	$0	$0	$0
ROB PHILLIPS	TREASURER	1.00	Officer Director	$0	$0	$0
STACY COZAD	SECRETARY	1.00	Officer Director	$0	$0	$0
BRIAN ITZKOWITZ	PRESIDENT/CEO	20.00	Officer	$247,780	$47,680	$543,240
JACQUELINE DRAWS	CFO	28.00	Officer	$172,505	$43,945	$290,381
DEBORAH REYNOLDS	VP MARKETING/COMMUNICATION	28.00	Officer	$93,025	$34,916	$167,809
TANYA WELDON	HUMAN RESOURCES OFFICER	32.00	Officer	$126,556	$33,771	$191,966
ELLIOT SMALLEY EASTERLING	CHIEF MISSION AND MARKETIN	30.00	Officer	$114,712	$36,756	$266,180
PAMELA RICHARDSON	CHIEF PEOPLE CULTURE DIVER	28.00	Officer	$135,178	$48,474	$241,585
REGINALD HUGHES	VP OF COMMERCIAL SERVICES	10.00	Highest	$54,003	$48,473	$264,486
JASON BARIL	VP OF DONATED GOODS	30.00	Highest	$143,998	$31,312	$223,309
MARY GILMER	VP OF MISSION SERVICES	30.00	Highest	$129,700	$41,764	$214,698

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
2024	$65,087,712	$53,978,984	$137,202,409	$11,108,728
2023	$60,064,899	$48,216,487	$133,955,458	$11,848,412
2022	$55,111,508	$44,353,300	$126,444,362	$10,758,208
2021	$50,949,954	$41,925,265	$100,114,143	$9,024,689
2020	$39,872,407	$37,552,771	$85,270,142	$2,319,636
2019	$39,955,033	$36,247,341	$85,386,834	$3,707,692
2018	$36,128,417	$34,324,120	$82,400,206	$1,804,297

PALMETTO GOODWILL