Overview
What is Palmetto State Growth Fund Inc?
Palmetto State Growth Fund Inc is a nonprofit organization situated in Columbia, South Carolina. Its primary mission is to aid economic development by offering funding for loans that promote private business development and job growth. The organization works in collaboration with a specialized small business lender, providing funds to purchase loan participations in small business loans that would not be accessible through conventional sources. By doing so, Palmetto State Growth Fund Inc helps lessen the burdens on South Carolina's state government, supporting the South Carolina Jobs-Economic Development Authority in fulfilling its statutory obligations of promoting economic development and increasing or retaining employment in the state.
Is Palmetto State Growth Fund Inc legitimate?
Palmetto State Growth Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palmetto State Growth Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Palmetto State Growth Fund Inc?
The Palmetto State Growth Fund's mission is to alleviate the burdens of South Carolina's government by aiding the South Carolina Jobs-Economic Development Authority in fulfilling its statutory responsibilities. These responsibilities include promoting economic development and increasing or retaining employment within South Carolina. To achieve this, the Palmetto State Growth Fund offers funding for economic development loans that support private business development and job growth. The company provides loans to a specialized small business lender, who then utilizes these funds to acquire participations in small business loans that might not be possible through traditional financing sources.
What is the revenue of Palmetto State Growth Fund Inc?
Palmetto State Growth Fund Inc's revenue in 2023 was $1,609,068.
Who are the executives of Palmetto State Growth Fund Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Palmetto State Growth Fund Inc?
Palmetto State Growth Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Palmetto State Growth Fund Inc
Palmetto State Growth Fund Inc, in its mission, alleviates the burden on South Carolina's state government by aiding the South Carolina Jobs-Economic Development Authority in fulfilling its statutory responsibilities. This encompasses promoting economic development and increasing or retaining employment within South Carolina. The Palmetto State Growth Fund accomplishes this by providing funding for economic development loans that stimulate private business development and job growth. The company offers loans to a specialized small business lender, who then utilizes these funds to acquire loan participations in small business loans that would otherwise not be accessible through conventional sources. This process ultimately contributes to the growth and sustainability of businesses in South Carolina, thereby promoting employment opportunities and bolstering the state's economy.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Palmetto State Growth Fund Inc plays a crucial role in enhancing economic development in South Carolina. By providing funding for economic development loans, it supports private business expansion and job creation. The fund assists the South Carolina Jobs-Economic Development Authority in fulfilling its mission to promote economic growth and retain employment within the state.
Through its activities, the Palmetto State Growth Fund addresses the challenges that small businesses face in securing traditional loans. It partners with specialized small business lenders to facilitate loans that would otherwise be unavailable, ensuring that vital funding reaches enterprises that contribute to the local economy. This not only strengthens the business landscape but also helps to create and sustain job opportunities, thereby benefiting communities across South Carolina.
This information is meant to be a general summary of Palmetto State Growth Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $376,830
- Program Service Revenue: $1,232,005
- Gross Receipts: $1,609,068
Assets and Liabilities:
- Total Assets: $20,785,548
- Total Liabilities: $12,503
- Net Assets: $20,773,045
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROUTE 2 SBIC INTEREST K-1
Revenue
$941,790
INTEREST ON BDC INVESTMENT
Revenue
$165,195
INTEREST ON LOANS
Revenue
$79,332
ROUTE 2 SBIC OTHER INCOME
Revenue
$45,688
Organization Details
Founding Year
1992
Principal Officer
J Thomas Johnson
NTEE Category
Code: W11 - Public benefit
If you are a representative of Palmetto State Growth Fund Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.