PALMETTO PROJECT INC (EIN 570807801) - 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

1985

Legal Domicile

Principal Officer

BRADY QUIRK-GARVAN

Phone

8435774122

Tax Period

2023-01-01 to 2023-12-31

PALMETTO PROJECT INC, founded in 1985, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $2.5M left a modest 14% surplus.

Mission

OUR MISSION IS TO IDENTIFY INNOVATIVE STRATEGIES TO ADDRESS THE SOCIAL AND ECONOMIC CHALLENGES FACING OUR STATE, AND PUT THEM INTO ACTION. WE HAVE BEEN THE CATALYST FOR OVER 240 INNOVATIVE PROJECTS SINCE INCEPTION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,182,654

Program Service Revenue $765,024

Investment Income $643

Other Revenue $0

TOTAL REVENUE $2,948,321

Expense Breakdown

Grants Paid $687,748

Salaries & Benefits $1,068,650

Fundraising Expenses $48,432

Program Expenses $2,270,836

Other Expenses $767,217

TOTAL EXPENSES $2,523,615

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,948,321	$2,265,031	+0.3%
Expenses	$2,523,615	$2,073,996	+0.2%
Net Income	$424,706	$191,035	+1.2%

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

Volunteers

950

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

$170,297

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY FLEMING	COO	40.00	Officer	$92,999	$16,479	$109,478
STEPHEN SKARDON JR	PRESIDENT/CE	40.00	Officer	$59,999	$820	$60,819
BRADY QUIRK-GARVAN	CHAIR	1.00	Officer Director	$0	$0	$0
JONATHAN WILLIAMS	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
JOYCE GREEN	SECRETARY-TR	1.00	Officer Director	$0	$0	$0
ROBERT BARBER JR	DIRECTOR	1.00	Director	$0	$0	$0
JUDY CANNON	DIRECTOR	1.00	Director	$0	$0	$0
MARION COBB	DIRECTOR	1.00	Director	$0	$0	$0
QUINETHA FRASIER	DIRECTOR	1.00	Director	$0	$0	$0
DWAYNE GREEN	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
WADE KOLB III	DIRECTOR	1.00	Director	$0	$0	$0
PETER LAMOTTE	DIRECTOR	1.00	Director	$0	$0	$0
JACK LAWRENCE	DIRECTOR	1.00	Director	$0	$0	$0
F ELLIOTTE QUINN IV	DIRECTOR	1.00	Director	$0	$0	$0
THEODORE RILEY	DIRECTOR	1.00	Director	$0	$0	$0
S ANNE WALKER	DIRECTOR	1.00	Director	$0	$0	$0
SEAN WILSON	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$2,948,321	$2,523,615	$1,859,709	$424,706
2022	$2,265,031	$2,073,996	$1,540,825	$191,035
2021	$1,583,346	$1,357,060	$1,116,056	$226,286
2020	$1,259,986	$1,484,545	$1,085,627	$-224,559
2019	$1,102,740	$1,264,803	$1,050,758	$-162,063
2018	$1,245,423	$1,535,470	$1,248,471	$-290,047

PALMETTO PROJECT INC