Palmetto Clean Energy Inc
- Assets
- $0.0
- Revenue
- $626.0
- Investments
- $0.0
- Employees
- 0
- Location
- Cayce, SC
- Founding
- Data as of
- 12/2017
- EIN
- 26-1100221
Organization Overview
Palmetto Clean Energy Inc is located in Cayce, SC. Palmetto Clean Energy 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 12/2017, Palmetto Clean Energy Inc generated $626.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (69.1%) each year. All expenses for the organization totaled $542.7k during the year ending 12/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
PALMETTO CLEAN ENERGY, INC., WAS ESTABLISHED FOR THE PROMOTION, SUPPORT, RESEARCH, DEVELOPMENT, DEMONSTRATION, OR COMMERCIALIZATION OF RENEWABLE ELECTRIC POWER AS A SOURCE OF ENERGY WHICH MAY BE USED FOR THE CITIZENS OF THE STATE OF SOUTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PACE WAS ESTABLISHED TO SERVE AS A THIRD PARTY ADMINISTRATOR OF PACE PROGRAM CONTRIBUTIONS. IN THIS CAPACITY, PACE WILL (1) AGGREGATE CUSTOMER DEMANDS VIA VOLUNTARY CUSTOMER PARTICIPATION IN THE PACE PROGRAM TARIFF; (2) QUALIFY RENEWABLE GENERATORS (RGS); (3) ISSUE REQUESTS FOR PROPOSAL FOR RENEWABLE RESOURCES GENERATION; AND (4) SELECT CONTRACT WITH RGS TO MEET CUSTOMER CONTRIBUTION REQUESTS. NO AMOUNTS IN EXCESS OF 5,000 WERE PAID TO ANY NON GOVERNMENTAL OR NON 501(C)(3) RG'S.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Long Chairman | OfficerTrustee | $0 | |
Emily Felt Vice Chairma | OfficerTrustee | $0 | |
Trish Jerman Director | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $626 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $626 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $416,748 |
| Grants and other assistance to domestic individuals. | $120,338 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,605 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $542,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |
Grants Awarded
Over the last fiscal year, Palmetto Clean Energy Inc has awarded $416,748 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BISHOP OF CHARLESTONFBO ST ANTHONY OF PADUA SCHOOL PURPOSE: SOLAR GRANT | $34,000 |
SHEALY ELECTRICAL WHOLESALERS PURPOSE: SOLAR ENERGY PRODUCT | $12,057 |
MIRACLE HILL MINISTRIES PURPOSE: SOLAR GRANT | $201,280 |
CAROLINA HOMELESS VETERANS PURPOSE: SOLAR GRANT | $62,900 |
TIG SUN ENERGY II LLC PURPOSE: SOLAR ENERGY PRODUCT | $19,748 |
SC GOVERNOR'S SCHOOL FOR SCIENCEAND MATHEMATICS FOUNDATION INC PURPOSE: DISSOLUTION OF PACE | $28,921 |