Overview
What is Palmetto Place Inc?
Palmetto Place Inc is a non-profit organization based in Columbia, South Carolina, specifically at 401 Harbison Blvd 3A, 29212. Established in accordance with South Carolina's not-for-profit laws, its primary mission is to provide housing for low-income individuals with disabilities. This is achieved through the operation of a 12-unit community known as Palmetto Place Apartments, situated in Summerville, South Carolina. The apartments are funded under Section 811 of the National Housing Act, which aims to offer suitable housing solutions for those in need. The organization is also recognized under the name Palmetto Place Apartments.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Palmetto Place Inc has achieved a strong Four-Star rating from Charity Navigator, reflecting its commitment to accountability and financial health. The charity's overall score is derived solely from its impressive performance in the Accountability & Finance category, indicating a high level of transparency and good governance practices. The organization has no material diversions of assets and complies with best practices in terms of conflict of interest, whistleblower, and document retention policies.
Strengths of Palmetto Place Inc include having an entirely independent board, which enhances the organization's credibility and decision-making integrity. Additionally, it maintains a high program expense ratio of 71.29%, demonstrating that a significant portion of its funds is allocated directly to its programs rather than administrative costs. The low liabilities to assets ratio of 2.72% further signifies financial stability, suggesting that the organization is well-positioned to fulfill its mission.
While the rating highlights many strengths, the summary does not identify any specific limitations or areas for improvement within the organization. Overall, Palmetto Place Inc stands out as a financially sound and accountable nonprofit, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Palmetto Place Inc legitimate?
Palmetto Place Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palmetto Place 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 Place Inc?
Palmetto Place Inc is a non-profit organization, formed under the not-for-profit statutes of South Carolina. Its primary purpose is to provide housing for low-income individuals with disabilities. To accomplish this, it operates a 12-unit community known as Palmetto Place Apartments, which is in compliance with Section 811 of the National Housing Act. The organization's mission is to offer a living space that caters to individuals with disabilities, aiming to provide them with safe and affordable housing.
Who is the CEO of Palmetto Place Inc?
Judy Weathers is the President of Palmetto Place Inc.
What is the revenue of Palmetto Place Inc?
Palmetto Place Inc's revenue in 2022 was $104,713.
Who are the executives of Palmetto Place Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Palmetto Place Inc?
Palmetto Place Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Palmetto Place Inc
Palmetto Place Inc, a not-for-profit corporation, was established with a specific mission to provide housing for low-income individuals with disabilities. The organization operates a community known as Palmetto Place Apartments, which was established in accordance with Section 811 of the National Housing Act. This community offers shelter and support for those in need, catering to a population that is often underserved. By doing so, Palmetto Place Inc aims to make a difference in the lives of its residents, offering them a safe and secure environment where they can thrive.
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Impact
June, 2024
Palmetto Place Inc's impact is evident in its provision of housing for low-income individuals with disabilities through the operation of Palmetto Place Apartments in Summerville, South Carolina. By offering a safe and affordable community for those in need, Palmetto Place Inc contributes to enhancing the quality of life for vulnerable populations in the area. This vital support helps to address issues related to housing insecurity and accessibility for individuals with disabilities, ultimately fostering a more inclusive and compassionate society.
This information is meant to be a general summary of Palmetto Place 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 2022.
- Investment Income: $67
- Program Service Revenue: $31,765
- Gross Receipts: $104,713
Assets and Liabilities:
- Total Assets: $321,750
- Total Liabilities: $8,758
- Net Assets: $312,992
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$31,765
Organization Details
Founding Year
1993
Phone
(803) 536-1056Principal Officer
Judy Weathers
Main Address
401 HARBISON BLVD 3A, COLUMBIA, SC, 29212
NTEE Category
Code: F30Z - Mental health
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