Palmetto Charter School Inc

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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

2010

Legal Domicile

Principal Officer

Brian Bustle

Phone

9417233711

Tax Period

2022-07-01 to 2023-06-30

Palmetto Charter School Inc, founded in 2010, is a community nonprofit in the Education sector that reported $5.4M in total revenue in fiscal year 2022. Revenue surged 52% from the prior year, signaling strong growth momentum. The organization ran a surplus of $996K, a strong 18% operating margin.

Mission

THE MISSION OF THE SCHOOL IS TO CREATE A SUPERIOR LEARNING ENVIRONMENT FOUNDED UPON THE SHARED VALUES OF HARD WORK, HONOR, SELF-DISCIPLINE,AND COMMUNITY AND PARENTAL INVOLVEMENT, WITH THE PURPOSE OF PREPARING STUDENTS FOR ACADEMIC AND SOCIAL SUCCESS, IN HIGH SCHOOL AND BEYOND.

Program Service Accomplishments

Program 1

Expenses: $3,644,285

Grades K-8 ClassroomsPalmetto Charter School offers a rigorous academic program that is designed to prepare students for success in Honors and other Advanced Level classes at the high school level...

Grades K-8 ClassroomsPalmetto Charter School offers a rigorous academic program that is designed to prepare students for success in Honors and other Advanced Level classes at the high school level. Palmetto Charter school provides instruction for grades K-8.Palmetto Charter School continues to have the highest test scores in thecounty. In addition, Palmetto Charter has a robust athletic program for ourmiddle school students and is consistently a top performer in our league, withchampionships in football, cross country, basketball and volleyball. OurJunior Beta Club excelled at the regional and national level this yearreceiving many various awards and recognition.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,270,529

Program Service Revenue $4,112,224

Investment Income $13,746

Other Revenue $0

TOTAL REVENUE $5,396,499

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,804,361

Fundraising Expenses $0

Program Expenses $3,644,285

Other Expenses $1,596,167

TOTAL EXPENSES $4,400,528

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,396,499	$3,551,927	+0.5%
Expenses	$4,400,528	$3,372,158	+0.3%
Net Income	$995,971	$179,769	+4.5%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

300

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
Brian Bustle	Principal	40.00		$103,260	$0	$103,260
Kelli Douglas	Secretary	0.25	Officer Director	$0	$0	$0
Mary Johnson	Treasurer	0.25	Officer Director	$0	$0	$0
Mike Mears	Chairperson	0.25	Officer Director	$0	$0	$0
Carly Lambert	Director	0.25	Director	$0	$0	$0
Debra Woithe	Director	0.25	Director	$0	$0	$0
Evan Guido	Director	0.25	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	No data	No data	No data	No data
2023	$5,396,499	$4,400,528	$11,545,512	$995,971
2022	$3,551,927	$3,372,158	$9,388,917	$179,769
2021	$3,479,396	$3,360,823	$7,828,279	$118,573
2020	$3,433,676	$3,117,471	$7,683,104	$316,205
2019	$3,266,208	$2,859,324	$4,600,560	$406,884
2018	$2,950,787	$2,571,780	$4,263,646	$379,007