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Nonprofiteer
← PALMETTO EXCEL INC

Form 990 for tax year 2024

Filed by PALMETTO EXCEL INC.

Totals

Total revenue
$1,762,264
Total expenses
$2,100,224
Contributions and grants received
$1,762,133
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$131
Total assets, end of year
$676,895
Total liabilities, end of year
$556,902
Net assets or fund balances, end of year
$119,993
Program services expenses (Part IX)
$1,885,914
Management and general expenses
$214,310
Fundraising expenses
$0
Program service expenses (Part III)
$1,885,914

Program services were 89.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,300,000

  • 1f · All other contributions, gifts and grants

    $462,133

  • 11a · Other revenue: MISCELLANEOUS LOCAL RE

    total $131 · related or exempt $131

  • 11e · Other revenue, total

    $131

Functional expenses

Part IX, the statement of functional expenses.

  • 11d · Fees: lobbying

    total $66,000 · management and general $66,000

  • 11g · Fees: other

    total $956,720 · program services $867,660 · management and general $89,060

  • 12 · Advertising and promotion

    total $51,209 · program services $51,209

  • 13 · Office expenses

    total $23,645 · program services $23,645

  • 14 · Information technology

    total $40,357 · program services $40,357

  • 16 · Occupancy

    total $9,250 · management and general $9,250

  • 17 · Travel

    total $6,368 · program services $6,368

  • 22 · Depreciation, depletion and amortization

    total $141,540 · program services $141,540

  • 23 · Insurance

    total $20,010 · program services $20,010

  • 24a · Other expenses: ADULT/CONTINUING EDUCAT

    total $531,345 · program services $531,345

  • 24b · Other expenses: GUIDANCE SERVICES

    total $196,607 · program services $196,607

  • 24c · Other expenses: MEMBERSHIP DUES & FEES

    total $50,000 · management and general $50,000

  • 24d · Other expenses: TEACHER INCENTIVES

    total $3,744 · program services $3,744

  • 24e · All other expenses

    total $3,429 · program services $3,429

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $489,437 · end of year $233,813

  • 4 · Accounts receivable

    beginning of year $0 · end of year $250,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,997 · end of year $3,155

  • 10a · Land, buildings and equipment: cost or other basis

    $84,386

  • 10b · Land, buildings and equipment: accumulated depreciation

    $31,288

  • 10c · Land, buildings and equipment, net

    beginning of year $69,975 · end of year $53,098

  • 15 · Other assets

    beginning of year $261,492 · end of year $136,829

  • 17 · Accounts payable and accrued expenses

    beginning of year $132,733 · end of year $413,800

  • 19 · Deferred revenue

    beginning of year $226,900 · end of year $0

  • 25 · Other liabilities

    beginning of year $265,315 · end of year $143,102

  • 27 · Net assets without donor restrictions

    beginning of year $207,953 · end of year $119,993

Mission and programs · 2024

Mission

THE MISSION OF PALMETTO EXCEL-A LOCALLY-DRIVEN CHARTER SCHOOL BASED ON THE NATIONAL EXCEL CENTER MODEL-IS TO PROVIDE ADULTS THE OPPORTUNITY AND SUPPORT TO EARN HIGH SCHOOL DIPLOMAS AND POSTSECONDARY EDUCATION WHILE DEVELOPING CAREER PATHS THAT OFFER BETTER-THAN-AVERAGE EMPLOYMENT AND GROWTH OPPORTUNITIES.

Activities or mission (Part I)

PALMETTO EXCEL IS A TUITION-FREE CHARTER HIGH SCHOOL FOR ADULTS THAT STRIVES TO REMOVE BARRIERS THROUGH FLEXIBLE SCHEDULING, ACCELERATED COURSES, FREE CHILD CARE, AND SUPPORTED SERVICES SO THAT INDIVIDUALS CAN EARN A DIPLOMA.

  • FOCUS ON DIPLOMAS AND WORKFORCE TRAINING/CERTIFICATION FOR STUDENTS OVER THE AGE OF 21. PALMETTO EXCEL WILL EXCLUSIVELY SERVE ADULTS OVER THE AGE OF 21 GRANTING DIPLOMAS AND OFFERING COLLEGE CREDIT AND WORKFORCE CERTIFICATIONS MAKING IT THE ONLY HIGH SCHOOL OF ITS KIND IN SOUTH CAROLINA. EXCEL GRADUATED ITS FIRST CLASS OF STUDENTS, 100% OF WHOM EARNED BOTH HIGH SCHOOL DIPLOMAS AND WORKFORCE CERTIFICATIONS.

    Expenses $1,689,307

  • FULL-TIME LIFE COACHES. RECOGNIZING THE UNIQUE STRESSORS, SKILLS AND NEEDS OF ADULT STUDENTS, PALMETTO EXCEL WILL EMPLOY FULL-TIME LIFE COACHES WHO WILL WORK WITH STUDENTS ON SCHEDULING CLASSES, SETTING GOALS, CREATING INDIVIDUALIZED PLANS, TRACKING GRADUATION REQUIREMENTS AND PROVIDING ADDITIONAL SUPPORT. LIFE COACHING AT PALMETTO EXCEL WILL ADDRESS THE MAJOR LIFE BARRIERS AND ISSUES THAT MOST OFTEN PREVENT STUDENTS FROM BEING SUCCESSFUL IN SCHOOL AND IN LIFE. RECENT GRADUATES ACHIEVED 100% OF WORKFORCE CREDENTIALS.

    Expenses $196,607

  • DROP-IN CARE FOR STUDENT'S YOUNG CHILDREN. CHILDCARE IS A KEY BARRIER FOR ADULT STUDENTS WHO WANT TO PURSUE THEIR DIPLOMAS. PALMETTO EXCEL WILL REMOVE THIS BARRIER BY OFFERING FULLY-STAFFED, HIGH QUALITY DROP-IN CARE ON OR NEAR CAMPUS, ALLOWING STUDENTS TO ATTEND CLASS WHENEVER THEIR SCHEDULES ALLOW.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ERICA WRIGHT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • FRAN WELCH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HERBERT DRAYTON III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KELLEY JARRETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KELLYE WHITAKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRIAN ITZKOWITZ

    BOARD MEMBER (NONVOTING)

    Total calculated
    $0
    Hours/week
    1

  • LEE DEAS

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL SABOE

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • AMY MIMS

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CHRIST HARVEY

    FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ELLIOT SMALLEY

    SENIOR DIRECTOR

    Total calculated
    $261,832
    From this org
    $0
    From related orgs
    $229,424
    Other
    $32,408
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $210,802 related
    Bonus
    $0 + $18,622 related
    Other
    $0
    Deferred
    $0 + $11,250 related
    Nontaxable benefits
    $0 + $21,158 related
    Filer's total
    $0 + $261,832 related

  • RUTH CHAMBERS TURNER

    SCHOOL DIRECTOR

    Total calculated
    $93,794
    From this org
    $0
    From related orgs
    $91,455
    Other
    $2,339
    Hours/week
    1 + 40 related

  • JEREMY EASLEY

    SCHOOL DIRECTOR

    Total calculated
    $76,711
    From this org
    $0
    From related orgs
    $75,292
    Other
    $1,419
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • PALMETTO GOODWILL

    501(C)(3) · PROVIDES EDUCATION AND JOB READINESS TRAINING TO UNEMPLOYED INDIVIDUALS · SC

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202611359349304011

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