PALMETTO PLACE INC (EIN 570969948) - 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

1993

Legal Domicile

Principal Officer

JUDY WEATHERS

Phone

8035361056

Tax Period

2024-01-01 to 2024-12-31

PALMETTO PLACE INC, founded in 1993, is a small nonprofit in the Mental Health sector that reported $125K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $20K, a strong 16% operating margin.

Mission

PALMETTO PLACE, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF SOUTH CAROLINA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 12 UNIT COMMUNITY KNOWN AS PALMETTO PLACE APARTMENTS LOCATED IN SUMMERVILLE, SOUTH CAROLINA, WHICH PROVIDES HOUSING FOR LOW-INCOME PERSONS WITH DISABILITIES, PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT, AS AMENDED.

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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 $83,861

Program Service Revenue $36,796

Investment Income $3,279

Other Revenue $847

TOTAL REVENUE $124,783

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $70,924

Other Expenses $105,225

TOTAL EXPENSES $105,225

Year-over-Year Comparison

	2024	2023	Change
Revenue	$124,783	$109,322	+0.1%
Expenses	$105,225	$133,294	-0.2%
Net Income	$19,558	$-23,972	-1.8%

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
JUDY WEATHERS	PRESIDENT	2.00	Officer Director	$0	$0	$0
KATHIE GOODWIN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
BETTY MOSS MCGUIRT	SECRETARY	2.00	Officer Director	$0	$0	$0
HARRIS DAVIS	TREASURER	2.00	Officer 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	$124,783	$105,225	$318,970	$19,558
2023	$109,322	$133,294	$325,445	$-23,972
2022	$104,713	$123,761	$321,750	$-19,048
2021	$111,349	$84,105	$337,833	$27,244
2020	$98,783	$88,752	$310,338	$10,031
2019	$96,039	$95,497	$315,244	$542
2018	$90,903	$91,732	$308,324	$-829

PALMETTO PLACE INC