Palmetto State Growth Fund Inc

Analysis

Palmetto State Growth Fund Inc is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in July 2019, 7 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Palmetto State Growth Fund Inc reported income of $1.6m and spending of $726k, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $657k to $1.6m (+145%), an average of +25% a year. The sharpest change came in the year to December 2022, when income rose by 66%. Over the whole period it spent 46% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palmetto State Growth Fund Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within SC. Charities of a similar size with the same main cause include Jeannette Rankin Foundation Inc ($1.6m), The Sharing Shelf Inc ($1.6m) and Fed of State Humanities Councils ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 77% of the total. At year end it held assets of $21.4m against liabilities of $34k, net assets of $21.4m.