Palmetto Charter School Inc

Analysis

Palmetto Charter School Inc is a registered charity in United States, based in Palmetto, FL. It received its IRS tax-exemption ruling in July 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Palmetto Charter School Inc reported income of $5.4m and spending of $4.4m, spending 82% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.4m to $5.4m (+57%), an average of +16% a year. The sharpest change came in the year to June 2023, when income rose by 52%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palmetto Charter School Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Three Points Academy Inc ($5.4m), Kbare ($5.4m) and Orange County School of the Arts Foundation ($5.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $103k (2.3% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $11.5m against liabilities of $9.0m, net assets of $2.5m. It reported 66 employees.