THE PALMETTO SCHOOL

EIN: 571570408 501(c)(3) Education

ROCK HILL, SC

Total Revenue
$863,657
Total Expenses
$574,181
Total Assets
$557,829
Net Assets
$-945,455
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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
2004
Legal Domicile
SC
Principal Officer
GARY BAGGETT
Phone
8033286555
Tax Period
2023-07-01 to 2024-06-30

THE PALMETTO SCHOOL, founded in 2004, is a small nonprofit in the Education sector that reported $864K in total revenue in fiscal year 2023. Revenue surged 75% from the prior year, signaling strong growth momentum. The organization ran a surplus of $289K, a strong 34% operating margin.

Mission

TO PROVIDE A SAFE AND INDIVIDUALIZED EDUCATION EXPERIENCE THAT STIMULATES ACADEMIC ACHIEVEMENT AND PERSONAL EMPOWERMENT FOR ABUSED, NEGLECTED, ABANDONED, OR HOMELESS CHILDREN.

Program Service Accomplishments

Program 1
Expenses: $364,592 Revenue: $828,934

THE PALMETTO SCHOOL AT THE CHILDREN'S ATTENTION HOME WAS ORGANIZED UNDER THE SC CHARTER SCHOOL ACT IN 2004. SINCE THAT TIME THE SCHOOL HAS SERVED OVER 500 CHILDREN. THE SCHOOL WAS DEVELOPED TO MEET...

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THE PALMETTO SCHOOL AT THE CHILDREN'S ATTENTION HOME WAS ORGANIZED UNDER THE SC CHARTER SCHOOL ACT IN 2004. SINCE THAT TIME THE SCHOOL HAS SERVED OVER 500 CHILDREN. THE SCHOOL WAS DEVELOPED TO MEET THE EDUCATIONAL NEEDS OF CHILDREN WHO WERE LIVING AT THE CHILDREN'S ATTENTION HOME, AN EMERGENCY SHELTER FOR CHILDREN THAT HAVE BEEN REMOVED FROM PARENTAL CUSTODY BY THE DEPARTMENT OF SOCIAL SERVICES DUE TO ABUSE, NEGLECT, AND/OR ABANDONMENT. PRIOR TO THE SCHOOL'S CHARTER, THE CHILDREN LIVING AT THE HOME ATTENDED SCHOOL IN LOCAL ELEMENTARY AND MIDDLE SCHOOLS. BECAUSE THE CHILDREN HAD BEEN REMOVED FROM THEIR HOMES AND MOVED TO AN UNFAMILIAR LOCATION, THEY STRUGGLED IN SCHOOL. THE PALMETTO SCHOOL AT THE CHILDREN'S ATTENTION HOME WAS DEVELOPED AS A SAFE ENVIRONMENT, WITH SMALLER CLASSES THAT PROVIDE INDIVIDUALIZED EDUCATION SERVICES TO MEET THE NEEDS OF THAT CHILD.

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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 (2023)

Revenue Breakdown

Contributions & Grants $829,121
Program Service Revenue $34,453
Investment Income $83
Other Revenue $0
TOTAL REVENUE $863,657

Expense Breakdown

Grants Paid $0
Salaries & Benefits $464,912
Fundraising Expenses $1,301
Program Expenses $364,592
Other Expenses $109,269
TOTAL EXPENSES $574,181

Year-over-Year Comparison

2023 2022 Change
Revenue $863,657 $492,347 +0.8%
Expenses $574,181 $678,639 -0.2%
Net Income $289,476 $-186,292 -2.6%
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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
15
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
5
$72,783
Total Directors
12
$72,783
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GARY BAGGETT EXECUTIVE DI 40.00
Officer Director
$72,783 $0 $72,783
AUSTIN DAWKINS CHAIR N/A
Officer Director
$0 $0 $0
DEANN SEGAL VICE CHAIR N/A
Officer Director
$0 $0 $0
JOEL MANNING TREASURER N/A
Officer Director
$0 $0 $0
DEBBIE BURNS SEC N/A
Officer Director
$0 $0 $0
CAROL DAWKINS BOARD MEMBER N/A
Director
$0 $0 $0
LAVONIA JOHNSON-DAVIS BOARD MEMBER N/A
Director
$0 $0 $0
JACOB PUTNAM BOARD MEMBER N/A
Director
$0 $0 $0
HANK SEGAL BOARD MEMBER N/A
Director
$0 $0 $0
KASEY SEGAL BOARD MEMBER N/A
Director
$0 $0 $0
DAVID WILLIAMS BOARD MEMBER N/A
Director
$0 $0 $0
CLIFFORD L DANTZLER BOARD MEMBER N/A
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 $863,657 $574,181 $557,829 $289,476
2023 $492,347 $678,639 $791,558 $-186,292
2022 $697,964 $755,063 $1,121,847 $-57,099
2021 $602,241 $566,977 $842,559 $35,264
2020 $531,357 $696,110 $693,725 $-164,753
2019 $715,427 $625,599 $580,623 $89,828
2018 $810,433 $802,545 $1,271,919 $7,888
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