Palmetto Housing Corporation

Analysis

Palmetto Housing Corporation is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in August 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Palmetto Housing Corporation reported income of $124k and spending of $82k, leaving 34% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $142k to $124k (-13%), an average of -3.3% a year. Over the whole period it spent 482% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palmetto Housing Corporation sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 48th percentile within SC. Charities of a similar size with the same main cause include Hyde Park 811 Housing Corporationinc ($124k), Olive Hill Community Economic Development Corporation ($124k) and Long Ranch ($124k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 89% of the total. Other salaries and wages came to $2,037. At year end it held assets of $2.2m against liabilities of $653k, net assets of $1.5m. It reported 1 employees.