Palmetto Project, Inc.

Putting New Ideas To Work

North Charleston, SC | http://www.palmettoproject.org

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GuideStar Charity Check

EIN: 57-0807801

Contributions tax deductible
as of May 2023

IRS BMF 509(a)(1)
as of May 08, 2023

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Charity Check report

Mission

The mission of the Palmetto Project is to put new and creative ideas to work solving problems in South Carolina. We see ourselves as a catalyst for innovation. Through special partnerships with government, businesses, civic groups, schools, and religious organizations, we strive to bring a fresh, entrepreneurial spirit in building successful communities in South Carolina. It is our view that somewhere in the world, there is a community using an innovative approach to solve the very same problems we face. Our job is to study these ideas, learn what makes them work, and adapt them to the needs of our communities.

Ruling year info

1985

Executive Director

Mr. Steve Skardon

Main address

6296 Rivers Ave Suite 100

North Charleston, SC 29406 USA

Show more contact info

EIN

57-0807801

Subject area info

Reading promotion

Health care access

Insurance

Diversity and intergroup relations

Public affairs

Population served info

Children and youth

Adults

Ethnic and racial groups

NTEE code info

Public, Society Benefit - Multipurpose and Other N.E.C. (W99)

Human Services - Multipurpose and Other N.E.C. (P99)

Intergroup/Race Relations (R30)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Show Forms 990

Communication

Programs and results

What we aim to solve

This profile needs more info.

If it is your nonprofit, add a problem overview.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

All Programs

Health - Insure SC, signup SC, Children's Health SC, Carolina Hearing Aid Bank
Families, Youth & Schools - Families Helping Families, Begin with Books, My First Books SC, Family Supply Network
Community Engagement - Homeless to Hope Fund, Lowcountry Aid to Africa
Civic Participation - Voter Participation

Population(s) Served

Adults

Children and youth

Where we work

External reviews

Financials

Palmetto Project, Inc.

Fiscal year: Jan 01 - Dec 31

Financial documents

Yes, financials were audited by an independent accountant.

Revenue vs. expenses: breakdown

SOURCE: IRS Form 990

NET GAIN/LOSS: in

Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021

SOURCE: IRS Form 990

3.41

Average of 6.75 over 10 years

Months of cash in 2021

SOURCE: IRS Form 990

9.1

Average of 6.7 over 10 years

Fringe rate in 2021

SOURCE: IRS Form 990

22%

Average of 23% over 10 years

Funding sources

Source: IRS Form 990

Assets & liabilities

Source: IRS Form 990

Financial data

Source: IRS Form 990

Digitizing IRS form 990 data

Palmetto Project, Inc.

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

Fiscal year ending: Download Data

Revenue
Contributions	$957,453
Program Services	$18,109
Investments	$2,024
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$977,586

Expenses
Grants	$0
Salaries & Employee Benefits	$578,444
Professional Fees	$69,322
Occupancy	$129,931
Printing, Publications, Postage, etc.	$27,443
Other Expenses	$483,563
Total Expenses	$1,288,703
Net Gain/Loss	($311,117)

Revenue
Contributions	$822,389
Government Grants	$713,317
Program Services	$50,000
Investments	($22,628)
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,563,078

Expenses
Program Services	$1,467,698
Administration	$196,147
Fundraising	$0
Total Expenses	$1,663,845
Net Gain/Loss	($100,767)

Functional expenses
Accounting Fees	$27,750
Advertising & Promotion	$282
Information Technology Expenses	$407
Insurance Expenses	$9,248
Interest Expenses	$398
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$392,013
Government Grants	$865,102
Program Services	$0
Investments	$19
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,257,134

Expenses
Program Services	$1,219,870
Administration	$62,757
Fundraising	$0
Total Expenses	$1,282,627
Net Gain/Loss	($25,493)

Functional expenses
Accounting Fees	$11,399
Advertising & Promotion	$908
Information Technology Expenses	$3,709
Insurance Expenses	$6,420
Interest Expenses	$3,486
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$479,714
Government Grants	$530,240
Program Services	$0
Investments	$9
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,009,963

Expenses
Program Services	$887,988
Administration	$74,550
Fundraising	$0
Total Expenses	$962,538
Net Gain/Loss	$47,425

Functional expenses
Accounting Fees	$14,543
Advertising & Promotion	$475
Information Technology Expenses	$756
Insurance Expenses	$8,162
Interest Expenses	$4,991
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$696,639
Government Grants	$52,751
Program Services	$0
Investments	$0
Special Events	$6,467
Sales	$0
Other	$0
Total Revenue	$755,857

Expenses
Program Services	$629,322
Administration	$65,365
Fundraising	$430
Total Expenses	$695,117
Net Gain/Loss	$60,740

Functional expenses
Accounting Fees	$10,990
Advertising & Promotion	$3,163
Information Technology Expenses	$1,388
Insurance Expenses	$7,500
Interest Expenses	$4,290
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$876,565
Government Grants	$298,600
Program Services	$0
Investments	$26
Special Events	$1,452
Sales	$0
Other	$0
Total Revenue	$1,176,643

Expenses
Program Services	$1,018,212
Administration	$71,750
Fundraising	$1,286
Total Expenses	$1,091,248
Net Gain/Loss	$85,395

Functional expenses
Accounting Fees	$10,880
Advertising & Promotion	$11,579
Information Technology Expenses	$29,057
Insurance Expenses	$11,161
Interest Expenses	$4,790
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$888,081
Government Grants	$427,774
Program Services	$0
Investments	$34
Special Events	$610
Sales	$0
Other	$0
Total Revenue	$1,316,499

Expenses
Program Services	$1,449,288
Administration	$71,673
Fundraising	$616
Total Expenses	$1,521,577
Net Gain/Loss	($205,078)

Functional expenses
Accounting Fees	$10,940
Advertising & Promotion	$9,703
Information Technology Expenses	$29,148
Insurance Expenses	$6,930
Interest Expenses	$5,614
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$2,615,095
Government Grants	$1,410,256
Program Services	$0
Investments	$320
Special Events	$1,583
Sales	$0
Other	$0
Total Revenue	$4,027,254

Expenses
Program Services	$2,209,411
Administration	$67,595
Fundraising	$1,735
Total Expenses	$2,278,741
Net Gain/Loss	$1,748,513

Functional expenses
Accounting Fees	$11,150
Advertising & Promotion	$99,302
Information Technology Expenses	$9,484
Insurance Expenses	$7,797
Interest Expenses	$4,455
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$944,216
Government Grants	$1,451,060
Program Services	$0
Investments	$827
Special Events	($211)
Sales	$0
Other	$1,000
Total Revenue	$2,396,892

Expenses
Program Services	$2,223,546
Administration	$71,403
Fundraising	$1,531
Total Expenses	$2,296,480
Net Gain/Loss	$100,412

Functional expenses
Accounting Fees	$16,060
Advertising & Promotion	$74,894
Information Technology Expenses	$6,755
Insurance Expenses	$9,715
Interest Expenses	$46
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$906,662
Government Grants	$993,242
Program Services	$0
Investments	$681
Special Events	($51,657)
Sales	$0
Other	$1,122
Total Revenue	$1,850,050

Expenses
Program Services	$2,410,525
Administration	$78,541
Fundraising	$0
Total Expenses	$2,489,066
Net Gain/Loss	($639,016)

Functional expenses
Accounting Fees	$14,099
Advertising & Promotion	$29,534
Information Technology Expenses	$8,529
Insurance Expenses	$12,730
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$49,697
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$984,349
Government Grants	$313,878
Program Services	$2,754
Investments	$837
Special Events	($56,395)
Sales	$0
Other	$0
Total Revenue	$1,245,423

Expenses
Program Services	$1,435,146
Administration	$82,143
Fundraising	$18,181
Total Expenses	$1,535,470
Net Gain/Loss	($290,047)

Functional expenses
Accounting Fees	$13,425
Advertising & Promotion	$28,218
Information Technology Expenses	$21,137
Insurance Expenses	$10,251
Interest Expenses	$4,830
Investment Management Fees	$0
Legal Fees	$18,323
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$840,524
Government Grants	$134,940
Program Services	$222,555
Investments	$4,187
Special Events	($99,466)
Sales	$0
Other	$0
Total Revenue	$1,102,740

Expenses
Program Services	$1,134,312
Administration	$120,465
Fundraising	$10,026
Total Expenses	$1,264,803
Net Gain/Loss	($162,063)

Functional expenses
Accounting Fees	$11,990
Advertising & Promotion	$10,541
Information Technology Expenses	$13,385
Insurance Expenses	$10,853
Interest Expenses	$16,165
Investment Management Fees	$0
Legal Fees	$2,905
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$749,933
Government Grants	$109,072
Program Services	$399,193
Investments	$1,788
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,259,986

Expenses
Program Services	$1,350,886
Administration	$123,514
Fundraising	$10,145
Total Expenses	$1,484,545
Net Gain/Loss	($224,559)

Functional expenses
Accounting Fees	$18,395
Advertising & Promotion	$11,577
Information Technology Expenses	$9,945
Insurance Expenses	$9,602
Interest Expenses	$13,945
Investment Management Fees	$0
Legal Fees	$3,598
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$725,510
Government Grants	$309,605
Program Services	$546,885
Investments	$1,346
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,583,346

Expenses
Program Services	$1,218,394
Administration	$104,740
Fundraising	$33,926
Total Expenses	$1,357,060
Net Gain/Loss	$226,286

Functional expenses
Accounting Fees	$16,500
Advertising & Promotion	$13,219
Information Technology Expenses	$35,161
Insurance Expenses	$0
Interest Expenses	$4,980
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Palmetto Project, Inc.

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: Download Data

Assets	Jan 01, 2008	Dec 31, 2008	Change
Contributions	$957,453
Cash & Equivalents	$399,350	$107,000	($292,350)
Fixed Assets (LBE - Depreciation)	$0	$0	$0
Other	$143,768	$95,644	($48,124)
Total Assets	$543,118	$202,644	($340,474)

Liabilities	Jan 01, 2008	Dec 31, 2008	Change
Total Liabilities	$65,380	$36,023	($29,357)

Fund balance	Jan 01, 2008	Dec 31, 2008	Change
Net Assets	$477,738	$166,621	($311,117)

Assets	Jan 01, 2009	Dec 31, 2009	Change
Contributions	$822,389
Cash & Equivalents	$107,000	$56,430	($50,570)
Accounts Receivable	$47,041	$93,761	$46,720
Pledges & Grants Receivable	$0	$0	$0
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$0	$0	$0
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$44,323	$8,275	($36,048)
Other	$4,280	$3,493	($787)
Total Assets	$202,644	$161,959	($40,685)

Liabilities	Jan 01, 2009	Dec 31, 2009	Change
Accounts Payable	$35,650	$35,951	$301
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$50,000	$50,000
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$373	$10,154	$9,781
Total Liabilities	$36,023	$96,105	$60,082

Fund balance	Jan 01, 2009	Dec 31, 2009	Change
Temporarily Restricted Net Assets	$0	$0	$0
Permanently Restricted Net Assets	$0	$0	$0
Total Restricted Net Assets	$0	$0	$0
Unrestricted Net Assets	$0	$0	$0
Net Assets	$166,621	$65,854	($100,767)

Assets	Jan 01, 2010	Dec 31, 2010	Change
Contributions	$392,013
Cash & Equivalents	$56,430	$92,942	$36,512
Accounts Receivable	$93,761	$27,160	($66,601)
Pledges & Grants Receivable	$0	$0	$0
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$0	$0	$0
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$8,275	$6,582	($1,693)
Other	$3,493	$19,529	$16,036
Total Assets	$161,959	$146,213	($15,746)

Liabilities	Jan 01, 2010	Dec 31, 2010	Change
Accounts Payable	$35,951	$35,320	($631)
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$50,000	$58,502	$8,502
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$10,154	$12,030	$1,876
Total Liabilities	$96,105	$105,852	$9,747

Fund balance	Jan 01, 2010	Dec 31, 2010	Change
Temporarily Restricted Net Assets	$0	$0	$0
Permanently Restricted Net Assets	$0	$0	$0
Total Restricted Net Assets	$0	$0	$0
Unrestricted Net Assets	$0	$0	$0
Net Assets	$65,854	$40,361	($25,493)

Palmetto Project, Inc.

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990

This snapshot of Palmetto Project, Inc.’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Fiscal year: Jan 01 - Dec 31 View full report Download data

Business model indicators

Profitability	2017	2018	2019	2020	2021
Unrestricted surplus (deficit) before depreciation	-$549,533	-$205,854	-$208,141	$130,438	$289,441
As % of expenses	-22.1%	-13.4%	-16.5%	8.8%	21.3%
Unrestricted surplus (deficit) after depreciation	-$549,973	-$206,168	-$208,414	$130,165	$289,202
As % of expenses	-22.1%	-13.4%	-16.5%	8.8%	21.3%

Revenue composition
Total revenue (unrestricted & restricted)	$1,850,050	$1,245,423	$1,102,740	$1,259,986	$1,583,346
Total revenue, % change over prior year	-22.8%	-32.7%	-11.5%	14.3%	25.7%
Program services revenue	0.0%	0.2%	20.2%	31.7%	34.5%
Membership dues	0.0%	0.0%	0.0%	0.0%	0.0%
Investment income	0.0%	0.1%	0.4%	0.1%	0.1%
Government grants	53.7%	25.2%	12.2%	8.7%	19.6%
All other grants and contributions	46.2%	74.5%	67.2%	59.5%	45.8%
Other revenue	0.1%	0.0%	0.0%	0.0%	0.0%

Expense composition
Total expenses before depreciation	$2,488,626	$1,535,156	$1,264,530	$1,484,272	$1,356,821
Total expenses, % change over prior year	8.4%	-38.3%	-17.6%	17.4%	-8.6%
Personnel	41.4%	43.8%	47.4%	38.6%	52.8%
Professional fees	13.8%	10.0%	2.8%	4.5%	4.2%
Occupancy	3.5%	5.7%	7.0%	6.3%	6.0%
Interest	0.0%	0.3%	1.3%	0.9%	0.4%
Pass-through	21.2%	5.1%	2.7%	13.6%	0.0%
All other expenses	20.1%	35.1%	38.8%	36.1%	36.5%

Full cost components (estimated)	2017	2018	2019	2020	2021
Total expenses (after depreciation)	$2,489,066	$1,535,470	$1,264,803	$1,484,545	$1,357,060
One month of savings	$207,386	$127,930	$105,378	$123,689	$113,068
Debt principal payment	$0	$0	$85,865	$108,599	$55,536
Fixed asset additions	$0	$0	$0	$0	$0
Total full costs (estimated)	$2,696,452	$1,663,400	$1,456,046	$1,716,833	$1,525,664

Capital structure indicators

Liquidity	2017	2018	2019	2020	2021
Months of cash	6.2	9.2	9.4	7.5	9.1
Months of cash and investments	6.2	9.2	9.4	7.5	9.1
Months of estimated liquid unrestricted net assets	-2.7	-5.9	-9.2	-6.7	-4.8

Balance sheet composition	2017	2018	2019	2020	2021
Cash	$1,279,101	$1,179,525	$990,046	$927,756	$1,024,055
Investments	$1,141	$1,141	$1,141	$1,141	$0
Receivables	$25,285	$39,188	$29,310	$138,120	$92,001
Gross land, buildings, equipment (LBE)	$27,296	$27,296	$27,296	$27,296	$27,296
Accumulated depreciation (as a % of LBE)	96.0%	97.1%	98.1%	99.1%	100.0%
Liabilities (as a % of assets)	7.0%	24.0%	25.1%	48.2%	29.4%
Unrestricted net assets	-$549,973	-$756,141	-$964,555	-$834,390	-$545,188
Temporarily restricted net assets	$1,788,725	$1,704,846	N/A	N/A	N/A
Permanently restricted net assets	$0	$0	N/A	N/A	N/A
Total restricted net assets	$1,788,725	$1,704,846	$1,751,197	$1,396,473	$1,333,557
Total net assets	$1,238,752	$948,705	$786,642	$562,083	$788,369

Key data checks

Key data checks	2017	2018	2019	2020	2021
Material data errors	No	No	No	No	No

Operations

The people, governance practices, and partners that make the organization tick.

Documents

Letter of Determination is not available for this organization

Form 1023/1024 is not available for this organization

Executive Director

Mr. Steve Skardon

Number of employees

Source: IRS Form 990

Palmetto Project, Inc.

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of officer and director compensation data for this organization

Palmetto Project, Inc.

Highest paid employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of highest paid employee data for this organization

Palmetto Project, Inc.

Board of directors
as of 05/10/2023

SOURCE: Self-reported by organization

Board of directors data

Download the most recent year of board of directors data for this organization

Board chair

Brady Quirk-Garvan

Natural Investments

Term: 2021 - 2023

Jonathan Williams

Vice-Chair

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? No
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? No
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? No
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 5/10/2023

Candid has made improvements to the race and ethnicity options.

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity

White/Caucasian/European

Gender identity

Male

Race & ethnicity

No data

Gender identity

No data

Sexual orientation

No data

Disability

No data

Palmetto Project, Inc.

Putting New Ideas To Work

Mission

Is this your nonprofit?

Programs and results

What we aim to solve

This profile needs more info.

Our programs

All Programs

Where we work

Financials

Financial documents

Revenue vs. expenses: breakdown

Liquidity in 2021 info

3.41

Months of cash in 2021 info

9.1

Fringe rate in 2021 info

22%

Funding sources info

Assets & liabilities info

Financial data

Digitizing IRS form 990 data

Palmetto Project, Inc.

Palmetto Project, Inc.

Palmetto Project, Inc.

Business model indicators

Capital structure indicators

Key data checks

Operations

Documents

Executive Director

Mr. Steve Skardon

Number of employees

Palmetto Project, Inc.

Compensation data

Palmetto Project, Inc.

Compensation data

Palmetto Project, Inc.

Board of directors data

Brady Quirk-Garvan

Board leadership practices

Board orientation and education

CEO oversight

Ethics and transparency

Board composition

Board performance

Organizational demographics

Leadership

Race & ethnicity

Gender identity

Sexual orientation

Disability

Liquidity in 2021

Months of cash in 2021

Fringe rate in 2021

Funding sources

Assets & liabilities