Palmetto Promise Institute

Analysis

Palmetto Promise Institute is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Palmetto Promise Institute reported income of $640k and spending of $530k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $645k to $640k (-0.8%), an average of -0.2% a year. The sharpest change came in the year to December 2022, when income rose by 28%. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Palmetto Promise Institute sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within SC. Charities of a similar size with the same main cause include Neuability ($640k), Shades of Pink Foundation ($640k) and Idaa ($640k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $244k (46% of expenses). Other salaries and wages came to $49k. At year end it held assets of $346k against liabilities of $16k, net assets of $330k. It reported 7 employees.