PALMETTO ACHIEVEMENT CENTER FOR EX… - Form 990 Financial Data

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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

2019

Legal Domicile

Principal Officer

STEPHEN W JAMES

Phone

8032519138

Tax Period

2022-07-01 to 2023-06-30

PALMETTO ACHIEVEMENT CENTER FOR EXCELLENCE ACADEMY INC, founded in 2019, is a community nonprofit in the Education sector that reported $3.9M in total revenue in fiscal year 2022. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $3.8M left a modest 3% surplus.

Mission

THE MISSION OF PACE IS TO PROVIDE STUDENTS WITH AN INDIVIDUALIZED, RESEARCH-BASED EDUCATIONAL EXPERIENCE THAT ENABLES CHILDREN, INCLUDING THOSE WITH LANGUAGE-BASED DIFFICULTIES, TO ACHIEVE ACADEMIC EXCELLENCE IN THE GENERAL EDUCATION CLASSROOM THEREBY DECREASING THE NEED FOR EXPERIENCE THAT ENABLES CHILDREN, INCLUDING THOSE WITH LANGUAGE-BASED DIFFICULTIES, TO ACHIEVE ACADEMIC EXCELLENCE IN THE GENERAL EDUCATION CLASSROOM THEREBY DECREASING THE NEED FOR DIRECT SPECIAL EDUCATION SERVICES.

Program Service Accomplishments

Program 1

Expenses: $3,070,282 Revenue: $89,997

PALMETTO ACHIEVEMENT CENTER FOR EXCELLENCE (PACE) ACADEMY, AN ALTERNATIVE EDUCATION CAMPUS (AEC), PUBLIC CHARTER SCHOOL, PROVIDES EVIDENCE-BASED, MULTI-SENSORY, STRUCTURED LANGUAGE INSTRUCTION TO...

PALMETTO ACHIEVEMENT CENTER FOR EXCELLENCE (PACE) ACADEMY, AN ALTERNATIVE EDUCATION CAMPUS (AEC), PUBLIC CHARTER SCHOOL, PROVIDES EVIDENCE-BASED, MULTI-SENSORY, STRUCTURED LANGUAGE INSTRUCTION TO STUDENTS IN THE SOUTH CAROLINA MIDLANDS. WE ARE COMMITTED TO PROVIDING A QUALITY EDUCATIONAL CHOICE FOR STUDENTS WITH DYSLEXIA OR OTHER LANGUAGE-BASED LEARNING DIFFERENCES WHO WOULD BENEFIT FROM ORTON-GILLINGHAM INSTRUCTIONAL METHODS. ALL STUDENTS AT PACE ACADEMY ATTEND AN ACE (ACADEMIC CORE ENRICHMENT) CLASS EVERY DAY FOR 30-45 MINUTES. DURING THIS ACE TIME, STUDENTS ARE PLACED IN GROUPS BASED ON THEIR NEEDS TO HELP CLOSE THE GAP IN PHONOLOGICAL AWARENESS AND DECODING SKILLS. STUDENTS RECEIVE INSTRUCTION USING A STRUCTURED LITERACY APPROACH WHICH INCLUDES PROJECT READ (LANGUAGE CIRCLE ENTERPRISES) AND OTHER ORTON-GILLINGHAM BASED INSTRUCTION. PACE OPENED AS A NEW SCHOOL IN THE FALL OF 2021 WITH 77% OF THE STUDENT POPULATION HAVING DOCUMENTED DISABILITIES: 16 STUDENTS WITH A 504 PLAN AND 127 STUDENTS WITH AN INDIVIDUAL EDUCATION PLAN (IEP). COMBINED WITH THE ADDITIONAL CHALLENGES OF A GLOBAL PANDEMIC, MANY LESS DETERMINED INDIVIDUALS WOULD HAVE QUIT BEFORE THEY EVEN STARTED! PACE ACADEMY IS PROUD TO BE THE FIRST TUITION-FREE SCHOOL IN THE MIDLANDS FOR STUDENTS WITH DYSLEXIA.

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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 $3,801,406

Program Service Revenue $87,997

Investment Income $16,443

Other Revenue $8,000

TOTAL REVENUE $3,913,846

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,318,252

Fundraising Expenses $0

Program Expenses $3,070,282

Other Expenses $1,458,929

TOTAL EXPENSES $3,777,181

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,913,846	$3,416,415	+0.1%
Expenses	$3,777,181	$2,992,466	+0.3%
Net Income	$136,665	$423,949	-0.7%

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

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
STEPHEN WILSON	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
KATRINA MACK-SNIDER	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
REBEKAH BARNES	TREASURER	1.00	Officer Director	$0	$0	$0
JESSICA BECERRA	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN THOMPSON	BOARD MEMBER	1.00	Director	$0	$0	$0
SALLY THORNTON	BOARD MEMBER	1.00	Director	$0	$0	$0
JONATHAN PACE	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	No data	No data	No data	No data
2023	$3,913,846	$3,777,181	$6,522,932	$136,665
2022	$3,416,415	$2,992,466	$6,522,320	$423,949
2021	$368,074	$1,168,080	$5,524,684	$-800,006

PALMETTO ACHIEVEMENT CENTER FOR EXCELLENCE ACADEMY INC