Palmetto Cove Inc
- Assets
- $304.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, SC
- Founding
- 10/1976
- Data as of
- 12/2022
- EIN
- 51-0200160
Organization Overview
Palmetto Cove Inc is located in Cleveland, SC. The organization was established in 1976. According to its NTEE Classification (O20) the organization is classified as: Youth Centers & Clubs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmetto Cove Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Palmetto Cove Inc generated $154.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $128.2k during the year ending 12/2022. While expenses have increased by 0.3% per year over the past 4 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE CORPORATION IS TO PROVIDE A RECREATIONAL VEHICLE (RV) PARK FOR THE USE BY MEMBERS AND GUESTS AND TO PROMOTE GENERAL RECREATION, SOCIAL, AND FRATERNAL ACTIVITIES, AND TO PROVIDE FACILITIES AND OUTDOOR AREAS FOR SUCH.
Describe the Organization's Program Activity:
Part 3
EXPENSES WERE FOR THE PURPOSE OF PROVIDING A RECREATIONAL VEHICLE (RV) PARK FOR MEMBERS AND GUESTS AND TO PROVIDE RECREATIONAL, SOCIAL, AND FRATERNAL ACTIVITIES THROUGH INDOOR AND OUTDOOR FACILITIES.
THE CORPORATION MADE SIGNIFICANT IMPROVEMENTS TO THE ELECTRICAL AND SEWAGE SYSTEMS IN THE FISCAL YEAR ENDING 12/31/2021. THE EXPENDITURES WERE CAPITALZED AT A TOTAL COST OF $85,471.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Crumpton President | 3 | $0 | |
Nancy Lail-Hulon Secretary | 4 | $0 | |
Mollie Withers Treasurer | 4 | $0 | |
Diana Bagwell Director | 3 | $0 | |
Paul Welch Director | 3 | $0 | |
Virginia Nelson Vice Preside | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $154,707 |
| Investment income | $163 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $154,870 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $90 |
| Occupancy, rent, utilities, and maintenance | $68,641 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $59,506 |
| Total expenses | $128,237 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $118,491 |
| Other assets | $0 |
| Total assets | $304,743 |
| Total liabilities | $0 |
| Net assets or fund balances | $304,743 |