THE PALMETTO OPERA

EIN: 571129329 501(c)(3) Arts, Culture & Humanities

COLUMBIA, SC

Total Revenue
$95,977
Total Expenses
$107,225
Total Assets
$150,908
Net Assets
$150,908
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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
2001
Legal Domicile
SC
Principal Officer
PAUL LEO
Phone
7036554896
Tax Period
2024-01-01 to 2024-12-31

THE PALMETTO OPERA, founded in 2001, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $96K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $107K exceeded revenue, resulting in a 12% operating deficit.

Mission

TO RAISE AWARENESS OF OPERA AND FINE ARTS IN SC.

Program Service Accomplishments

Program 1
Expenses: $103,305 Revenue: $30,264

GRAND OPERAS AND CONCERTSOUR OPERAS FEATURE HIGHLY ACCLAIMED INTERNATIONAL OPERA SOLOISTS, LOCAL PERFORMERS, AND AN ORCHESTRA WITH LOCAL MUSICIANS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $49,618
Program Service Revenue $30,264
Investment Income $16,095
Other Revenue $0
TOTAL REVENUE $95,977

Expense Breakdown

Grants Paid $0
Salaries & Benefits $12,790
Fundraising Expenses $0
Program Expenses $103,305
Other Expenses $94,435
TOTAL EXPENSES $107,225

Year-over-Year Comparison

2024 2023 Change
Revenue $95,977 $75,976 +0.3%
Expenses $107,225 $99,731 +0.1%
Net Income $-11,248 $-23,755 -0.5%
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

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Governance

Voting Members
7
Independent Members
6
Employees
N/A
Volunteers
6

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
4
$1,750
Total Directors
7
$1,750
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL LEO CHAIR 1.00
Officer Director
$0 $0 $0
DR AUDREY SKRUPSKELIS VICE CHAIR 1.00
Officer Director
$0 $0 $0
MELANIE BECHT TREASURER 1.00
Officer Director
$1,750 $0 $1,750
DARCIE FOUSTE ACTING SECRETARY 1.00
Officer Director
$0 $0 $0
CHARMAINE CLOWNEY BOARD MEMBER 1.00
Director
$0 $0 $0
JOHNNIE FELDER BOARD MEMBER 1.00
Director
$0 $0 $0
LORETTA WINBURN BOARD MEMBER 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
2025 No data No data No data No data
2024 $95,977 $107,225 $150,908 $-11,248
2023 $75,976 $99,731 $164,320 $-23,755
2022 $63,677 $94,505 $179,077 $-30,828
2021 $215,970 $60,252 $218,820 $155,718
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