PALMETTO PREPARATORY ACADEMY 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

REID RADTKE

Phone

8034651855

Tax Period

2023-01-01 to 2023-12-31

PALMETTO PREPARATORY ACADEMY INC, founded in 2010, is a small nonprofit that reported $300K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $391K exceeded revenue, resulting in a 30% operating deficit.

Mission

THE ORGANIZATION PREPARES STUDENT ATHLETES FOR THE RIGORS OF COLLEGE AND THE CHALLENGES OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $328,575 Revenue: $299,614

THE ORGANIZATION PREPARES STUDENT ATHLETES FOR THE RIGORS OF COLLEGE AND THE CHALLENGES OF LIFE

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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 $299,614

Investment Income $0

Other Revenue $0

TOTAL REVENUE $299,614

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $328,575

Other Expenses $390,989

TOTAL EXPENSES $390,989

Year-over-Year Comparison

	2023	2022	Change
Revenue	$299,614	$344,545	-0.1%
Expenses	$390,989	$466,409	-0.2%
Net Income	$-91,375	$-121,864	-0.3%

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
JONATHAN W DORTON	PRESIDENT	N/A	Officer Director	$0	$0	$0
MICHAEL FOSTER	BOARD MEMBER	N/A	Officer Director	$0	$0	$0
WILLIE GREEN	BOARD MEMEBE	N/A	Director	$0	$0	$0
WILLIAM HENRY	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
LARRY MARCHANT	BOARD MEMBER	N/A	Director	$0	$0	$0
REID RADTKE	BOARD MEMEBE	N/A	Officer Director	$0	$0	$0
GLENN WIGFALL	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
2023	$299,614	$390,989	No data	$-91,375
2022	$344,545	$466,409	$221,608	$-121,864
2021	$316,908	$433,500	$322,928	$-116,592
2021	$241,803	$420,065	$349,865	$-178,262
2020	$414,410	$204,683	$169,219	$209,727
2019	$322,738	$263,546	$250,448	$59,192
2018	$264,552	$287,388	$12,354	$-22,836