Palmetto Place Children & Youth SVCS

Analysis

Palmetto Place Children & Youth SVCS is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in October 1964, 62 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 Place Children & Youth SVCS reported income of $1.2m and spending of $1.4m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.5m to $1.2m (-20%), an average of -5.4% a year. The sharpest change came in the year to December 2022, when income dropped by 39%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palmetto Place Children & Youth SVCS sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within SC. Charities of a similar size with the same main cause include California Counties Foundation Inc ($1.2m), Public Affairs Research Council of Louisiana Inc ($1.2m) and National Church Residences Elderly of Montgomery WV Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $74k (5.4% of expenses). Other salaries and wages came to $674k. At year end it held assets of $2.3m against liabilities of $374k, net assets of $1.9m. It reported 44 employees.