PALMETTO STATE ARTS EDUCATION

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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

1987

Legal Domicile

Principal Officer

JENNY KABOOL

Phone

8648381469

Tax Period

2024-01-01 to 2024-12-31

PALMETTO STATE ARTS EDUCATION, founded in 1987, is a small nonprofit that reported $296K in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $257K left a modest 13% surplus.

Mission

PROMOTE THE CONTINUED GROWTH OF EXCELLENCE IN ARTS AND EDUCATION FOR ALL CHILDREN THROUGH EFFECTIVE LEADERSHIP, COLLABORATION, AND COMMUNITY ACTION IN THE STATE OF SOUTH CAROLINA.

Program Service Accomplishments

Program 1

Expenses: $239,907 Revenue: $296,195

ARTS ASSESSMENT INSTITUTE, ARTS INTEGRATION CONFERENCE, GALLUP STUDENT POLL, JOINT ARTS ADMINISTRATION INSTITUTE, RISING STARS, STEAM, AND STRATEGIC PLANNING INSTITUTE. PSAE WORKS TO BUILD A BRIGHTER FUTURE FOR SOUTH CAROLINA BY ENSURING THE CONTINUED GROWTH AND EXPANSION OF ARTS EDUCATION AS AN ESSENTIAL COMPONENT OF EDUCATION. PSAE DEVELOPS AND DELIVERS PROGRAMS TO ADDRESS THE NEEDS OF TEACHERS AND ADMINISTRATORS FOR QUALITY ARTS PROGRAMS IN SCHOOLS.

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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 $228,417

Program Service Revenue $46,200

Investment Income $0

Other Revenue $21,578

TOTAL REVENUE $296,195

Expense Breakdown

Grants Paid $0

Salaries & Benefits $44,848

Fundraising Expenses $0

Program Expenses $239,907

Other Expenses $212,316

TOTAL EXPENSES $257,164

Year-over-Year Comparison

	2024	2023	Change
Revenue	$296,195	$247,639	+0.2%
Expenses	$257,164	$238,108	+0.1%
Net Income	$39,031	$9,531	+3.1%

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

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

$41,661

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEE ATTACHED	GREENWOOD, SC	1.00	Officer Director	$0	$0	$0
JENNY KABOOL	ROCK HILL, SC	32.00	Officer Highest	$41,661	$0	$41,661

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	No data	No data	No data	No data
2024	$296,195	$257,164	$142,051	$39,031
2023	$247,639	$238,108	$104,019	$9,531
2022	$239,384	$275,107	$93,281	$-35,723
2021	$226,105	$200,212	$125,750	$25,893
2020	$226,419	$180,760	$99,832	$45,659
2019	$305,864	$280,391	$56,707	$25,473
2018	$206,467	$240,116	$32,063	$-33,649