PALMETTO DUNES PROPERTY OWNERS ASSOCIATION INC

EIN: 570656625 Human Services

HILTON HEAD ISLAND, SC

Total Revenue
$11,711,741
Total Expenses
$8,706,755
Total Assets
$50,196,915
Net Assets
$48,167,275
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
SC
Principal Officer
BILL DIX
Phone
8437851109
Tax Period
2024-01-01 to 2024-12-31

PALMETTO DUNES PROPERTY OWNERS ASSOCIATION INC, founded in 1977, is a mid-sized nonprofit in the Human Services sector that reported $11.7M in total revenue in fiscal year 2024. The organization ran a surplus of $3.0M, a strong 26% operating margin.

Mission

TO ENHANCE THE QUALITY OF LIFE, STRIVE TO PROTECT THE NATURAL ENVIRONMENT, AND IMPROVE THE RESOURCES OF OUR COMMUNITY FOR ALL THOSE WHO LIVE, INVEST, WORK AND PLAY HERE.

Program Service Accomplishments

Program 1
Expenses: $7,853,114 Revenue: $10,797,953

ROAD MAINTENANCE AND STORM DRAIN MAINTENANCE - THE ASSOCIATION OWNS 26 MILES OF ROADS, AND IS FULLY RESPONSIBLE FOR THE MAINTENANCE, REPAIR, AND RECONSTRUCTION OF THESE ROADS. THE ASSOCIATION'S ROAD...

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ROAD MAINTENANCE AND STORM DRAIN MAINTENANCE - THE ASSOCIATION OWNS 26 MILES OF ROADS, AND IS FULLY RESPONSIBLE FOR THE MAINTENANCE, REPAIR, AND RECONSTRUCTION OF THESE ROADS. THE ASSOCIATION'S ROAD MAINTENANCE ACTIVITIES PROMOTE THE GENERAL WELFARE OF THE COMMUNITY AND BECAUSE ROAD MAINTENANCE IS AN ESSENTIAL GOVERNMENTAL FUNCTION, THE ACTIVITIES LESSEN THE BURDEN OF THE TOWN OF HILTON HEAD ISLAND.THE SEA LANE BRIDGE WAS REPLACED, INCLUDING REALIGNMENT OF THE ROADWAY AND LEISURE PATHWAY, INTEGRATION OF SIGNIFICANT LANDSCAPING ENHANCEMENTS, AND INFRASTRUCTURE IMPROVEMENTS TO ACCOMMODATE FUTURE STORMWATER MANAGEMENT INITIATIVES ALONG THE MOORING BUOY CORRIDOR.BEACH ACCESS PATHWAYS AT BRIGANTINE/CAT BOAT AND FLOTILLA/GALLEON CONVERTED FROM STAIRS TO RAMPS TO IMPROVE EASE OF USE. THE ADDITION OF A MOBI-MAT NONSLIP BEACH PATH MAT TO IMPROVE SAFETY AND ACCESSIBILITY AT THE DUNES HOUSE BEACH ACCESS FOR PEOPLE WITH DISABILITIES OR PARENTS WITH STROLLERS.REDEVELOPMENT OF DUNES HOUSE LANE AND PARKING AREAS TO IMPROVE SAFETY AND ACCESSIBILITY. PLANNED IMPROVEMENTS INCLUDE NEW ROAD AND PARKING SURFACES, RELOCATED PARKING FOR HANDICAPPED USERS, DEDICATED SPACES FOR BICYCLES, COMPACT VEHICLES, AND THE DUNES BUGGY, THE ESTABLISHMENT OF INBOUND AND OUTBOUND DRIVE AISLES TO INCREASE ACCESSIBILITY FOR EMERGENCY VEHICLES, AND THE INTEGRATION OF ADDITIONAL PARKING SPACES.REDEVELOPMENT OF THE MOORING BUOY CORRIDOR (FROM SEA LANE TO PORT TACK), INCLUDING ROADWAY REALIGNMENT AND RECONSTRUCTION, SIGNIFICANT RECONFIGURATION OF THE LEISURE PATH TO IMPROVE ACCESSIBILITY AND SAFETY, NEW STORMWATER DRAINAGE INFRASTRUCTURE, AND IMPROVEMENT OF THE BROAD CREEK PSD UTILITIES.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $10,797,953
Investment Income $913,788
Other Revenue $0
TOTAL REVENUE $11,711,741

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,177,972
Fundraising Expenses $0
Program Expenses $7,853,114
Other Expenses $4,528,783
TOTAL EXPENSES $8,706,755

Year-over-Year Comparison

2024 2023 Change
Revenue $11,711,741 $11,245,334 +0.0%
Expenses $8,706,755 $8,396,243 +0.0%
Net Income $3,004,986 $2,849,091 +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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Governance

Voting Members
2173
Independent Members
2173
Employees
75
Volunteers
110

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
4
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BECKY BRUMLEY PART YEAR CHAIR 2.00
Officer Director
$0 $0 $0
KURT FAIRES VICE-CHAIR 2.00
Officer Director
$0 $0 $0
CHAD TEREFENKO PART YEAR SECRETARY 2.00
Officer Director
$0 $0 $0
ROBERT TALBOT TREASURER 2.00
Officer Director
$0 $0 $0
JERRY DURKIN PART YEAR MEMBER 1.00
Director
$0 $0 $0
DAN DEMICHELE PART YEAR MEMBER 1.00
Director
$0 $0 $0
BRANDON SMITH PART YEAR MEMBER 1.00
Director
$0 $0 $0
ALICE BETTENCOURT MEMBER 1.00
Director
$0 $0 $0
ED GARINO PART YEAR MEMBER 1.00
Director
$0 $0 $0
DOUG LUBA MEMBER 1.00
Director
$0 $0 $0
BARBARA MCFADDEN PART YEAR MEMBER 1.00
Director
$0 $0 $0
KAREN BOOTH PART YEAR MEMBER 1.00
Director
$0 $0 $0
KELLY BROWN PART YEAR MEMBER 1.00
Director
$0 $0 $0
LEE WHITEHURST PART YEAR MEMBER 1.00
Director
$0 $0 $0
BRAD MARRA PART YEAR MEMBER 1.00
Director
$0 $0 $0
ANDREW SCHUMACHER CEO 40.00
Highest
$307,672 $35,609 $343,281
JAMES GRINER DIRECTOR OF SECURITY 40.00
Highest
$157,799 $12,597 $170,396
ELIZABETH LOVELL CICCARELLI DIRECTOR OF COMMUNICATIONS 40.00
Highest
$120,947 $29,088 $150,035
MATTHEW NEMES CONTROLLER 40.00
Highest
$133,827 $27,232 $161,059
SYDNEY WAN DIRECTOR OF FACILITIES MAI 40.00
Highest
$119,345 $15,070 $134,415
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 $11,711,741 $8,706,755 $50,196,915 $3,004,986
2023 $11,245,334 $8,396,243 $46,965,169 $2,849,091
2022 $11,028,203 $7,856,265 $44,014,783 $3,171,938
2021 $11,414,236 $7,227,278 $42,506,108 $4,186,958
2020 $10,414,981 $6,698,191 $37,616,035 $3,716,790
2019 $10,397,331 $6,539,178 $34,372,089 $3,858,153
2018 $7,898,823 $6,202,454 $29,773,998 $1,696,369
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