PALMETTO ELECTRIC TRUST (EIN 570931978) - 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

1989

Legal Domicile

Principal Officer

ERNIE AVANT

Phone

8437265551

Tax Period

2023-01-01 to 2023-12-31

PALMETTO ELECTRIC TRUST, founded in 1989, is a small nonprofit that reported $421K in total revenue in fiscal year 2023. Expenses of $406K left a modest 4% surplus.

Mission

CHARITABLE FUNDRAISING SERVICES FOR WORTHWHILE COMMUNITY ACTIVITIES BY ROUNDING UP ELECTRIC BILLS TO AN EVEN DOLLAR AMOUNT, WITH DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF PALMETTO ELECTRIC COOPERATIVE, INC.

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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 $420,144

Program Service Revenue $0

Investment Income $1,069

Other Revenue $0

TOTAL REVENUE $421,213

Expense Breakdown

Grants Paid $400,994

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $405,878

Other Expenses $4,884

TOTAL EXPENSES $405,878

Year-over-Year Comparison

	2023	2022	Change
Revenue	$421,213	$438,733	0.0%
Expenses	$405,878	$388,462	+0.0%
Net Income	$15,335	$50,271	-0.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERNIE AVANT	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JOHN TIGNOR	VICE CHAIRMA	2.00	Officer Director	$0	$0	$0
CINDY SWAILES	SECRETARY/TR	2.00	Officer Director	$0	$0	$0
JANNIE BARNES	DIRECTOR	2.00	Director	$0	$0	$0
SHELLY HUDSON	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
CHIP MIKELL	DIRECTOR	2.00	Director	$0	$0	$0
MARK BERGLIND	DIRECTOR	2.00	Director	$0	$0	$0
LINDA FERGUSON	DIRECTOR	2.00	Director	$0	$0	$0
ANNIE GOODMAN	DIRECTOR	2.00	Director	$0	$0	$0
DEBORAH S GOVAN	DIRECTOR	2.00	Director	$0	$0	$0
EARL GREEN	DIRECTOR	2.00	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	$421,213	$405,878	$669,867	$15,335
2022	$438,733	$388,462	$654,532	$50,271
2021	$430,808	$279,723	$604,261	$151,085
2020	$499,997	$552,838	$453,176	$-52,841
2019	$413,186	$355,202	$506,017	$57,984

PALMETTO ELECTRIC TRUST