PALMETTO STATE GROWTH FUND INC (EIN 570954747) - 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

1992

Legal Domicile

Principal Officer

J THOMAS JOHNSON

Phone

8434419100

Tax Period

2023-01-01 to 2023-12-31

PALMETTO STATE GROWTH FUND INC, founded in 1992, is a community nonprofit in the Public & Societal Benefit sector that reported $1.6M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $883K, a strong 55% operating margin.

Mission

PALMETTO STATE GROWTH FUND LESSENS THE BURDENS OF SOUTH CAROLINA'S STATE GOVERNMENT BY ASSISTING THE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY IN MEETING ITS STATUTORY PURPOSES AND OBLIGATIONS OF PROMOTING ECONOMIC DEVELOPMENT AND INCREASING AND/OR RETAINING EMPLOYMENT IN SOUTH CAROLINA.

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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 $0

Program Service Revenue $1,232,005

Investment Income $376,830

Other Revenue $233

TOTAL REVENUE $1,609,068

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $643,340

Other Expenses $726,498

TOTAL EXPENSES $726,498

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,609,068	$1,457,759	+0.1%
Expenses	$726,498	$516,483	+0.4%
Net Income	$882,570	$941,276	-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

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
KAREN J CALHOUN	DIRECTOR	1.00	Director	$0	$0	$0
J THOMAS JOHNSON	PRESIDENT &	1.00	Officer Director	$0	$0	$0
MICHAEL W NIX	DIRECTOR	1.00	Director	$0	$0	$0
JAMES A SHUFORD	SECRETARY	1.00	Officer Director	$0	$0	$0
GREG THOMPSON	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	$1,609,068	$726,498	$21,384,660	$882,570
2022	$1,457,759	$516,483	$20,785,548	$941,276
2021	$877,649	$398,584	$19,870,017	$479,065
2020	$718,900	$425,031	$19,396,806	$293,869
2019	$656,601	$397,563	$19,102,651	$259,038
2018	$405,785	$392,565	$18,846,819	$13,220

PALMETTO STATE GROWTH FUND INC