Palmetto Electric Trust

Analysis

Palmetto Electric Trust is a registered charity in United States, based in Ridgeland, SC. It received its IRS tax-exemption ruling in April 1991, 35 years ago. 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 Electric Trust reported income of $421k and spending of $406k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $413k to $421k (+1.9%), an average of +0.5% a year. The sharpest change came in the year to December 2020, when income rose by 21%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palmetto Electric Trust sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 72nd percentile within SC. Charities of a similar size with the same main cause include Little League Baseball Inc ($421k), Calumet County Agricultural Association ($421k) and Caldwell Arts Council Inc ($421k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $670k against liabilities of $0, net assets of $670k.