Palmetto Charter School Inc
- Assets
- $11.5m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 66
- Location
- Palmetto, FL
- Founding
- 07/2010
- Data as of
- 06/2023
- EIN
- 80-0447761
Organization Overview
Palmetto Charter School Inc is located in Palmetto, FL. The organization was established in 2010. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Palmetto Charter School Inc employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmetto Charter School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Palmetto Charter School Inc generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $4.4m during the year ending 06/2023. While expenses have increased by 6.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE SCHOOL IS TO CREATE A SUPERIOR LEARNING ENVIRONMENT FOUNDED UPON THE SHARED VALUES OF HARD WORK, HONOR, SELF-DISCIPLINE,AND COMMUNITY AND PARENTAL INVOLVEMENT, WITH THE PURPOSE OF PREPARING STUDENTS FOR ACADEMIC AND SOCIAL SUCCESS, IN HIGH SCHOOL AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRADES K-8 CLASSROOMSPALMETTO CHARTER SCHOOL OFFERS A RIGOROUS ACADEMIC PROGRAM THAT IS DESIGNED TO PREPARE STUDENTS FOR SUCCESS IN HONORS AND OTHER ADVANCED LEVEL CLASSES AT THE HIGH SCHOOL LEVEL. PALMETTO CHARTER SCHOOL PROVIDES INSTRUCTION FOR GRADES K-8.PALMETTO CHARTER SCHOOL CONTINUES TO HAVE THE HIGHEST TEST SCORES IN THECOUNTY. IN ADDITION, PALMETTO CHARTER HAS A ROBUST ATHLETIC PROGRAM FOR OURMIDDLE SCHOOL STUDENTS AND IS CONSISTENTLY A TOP PERFORMER IN OUR LEAGUE, WITHCHAMPIONSHIPS IN FOOTBALL, CROSS COUNTRY, BASKETBALL AND VOLLEYBALL. OURJUNIOR BETA CLUB EXCELLED AT THE REGIONAL AND NATIONAL LEVEL THIS YEARRECEIVING MANY VARIOUS AWARDS AND RECOGNITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Bustle Principal | 40 | $103,260 | |
Kelli Douglas Secretary | OfficerTrustee | 0.25 | $0 |
Mary Johnson Treasurer | OfficerTrustee | 0.25 | $0 |
Mike Mears Chairperson | OfficerTrustee | 0.25 | $0 |
Carly Lambert Director | Trustee | 0.25 | $0 |
Debra Woithe Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,025,557 |
| All other contributions, gifts, grants, and similar amounts not included above | $244,972 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,270,529 |
| Total Program Service Revenue | $4,112,224 |
| Investment income | $13,404 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $342 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,396,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $103,260 |
| Compensation of current officers, directors, key employees. | $18,587 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,160,770 |
| Pension plan accruals and contributions | $280,759 |
| Other employee benefits | $85,328 |
| Payroll taxes | $174,244 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,119 |
| Fees for services: Accounting | $36,649 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,715 |
| Advertising and promotion | $0 |
| Office expenses | $134,285 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $147,969 |
| Travel | $1,537 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $248,889 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $279,937 |
| Insurance | $125,680 |
| All other expenses | $42,382 |
| Total functional expenses | $4,400,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $861,836 |
| Savings and temporary cash investments | $816,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $180,273 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,000 |
| Net Land, buildings, and equipment | $8,849,440 |
| Investments—publicly traded securities | $119,832 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $708,514 |
| Total assets | $11,545,512 |
| Accounts payable and accrued expenses | $262,335 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,935,733 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,816,780 |
| Total liabilities | $9,014,848 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,530,664 |
| Total liabilities and net assets/fund balances | $11,545,512 |