Palmetto Economic Development Corp

Organization Overview

Palmetto Economic Development Corp is located in Columbia, SC. The organization was established in 1989. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Palmetto Economic Development Corp employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmetto Economic Development Corp 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 12/2021, Palmetto Economic Development Corp generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Palmetto Economic Development Corp has awarded 16 individual grants totaling $573,425. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PALMETTO ECONOMIC DEVELOPMENT CORPORATION IS THE ECONOMIC DEVELOPMENT ALLIANCE OF THE STATE'S 20 ELECTRIC COOPERATIVES. TOGETHER THEY PROVIDE POWER TO MORE THAN 2 MILLION SOUTH CAROLINIANS.

Describe the Organization's Program Activity:

FACILITATE THE GROWTH OF JOBS, INVESTMENT AND ELECTRIC LOAD THROUGH THE ATTRACTION OF NEW INDUSTRIAL AND COMMERCIAL ACTIVITY


SUPPORT EXPANSION AND RETENTION OF EXISTING BUSINESSES AND FACILITIES


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Hamilton Capitol Center Llc
Rent
$163,469
Np Strategy Llc
Consulting
$117,952
View All Vendors

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$3,331,400
Investment income $92,681
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 $3,424,081

Grants Awarded

Over the last fiscal year, Palmetto Economic Development Corp has awarded $50,000 in support to 2 organizations.

Grant RecipientAmount

YORK COUNTY GOVERNMENT

PURPOSE: STRATEGIC PLANNING

$25,000

COUNTY OF MARION

PURPOSE: STRATEGIC PLANNING

$25,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Palmetto Economic Development Corp has recieved totaling $3,000.

Awarding OrganizationAmount
M B Kahn Foundation Inc

Columbia, SC

PURPOSE: GENERAL USE

$1,500
Davis Family Foundation

Greenwood, SC

PURPOSE: GENERAL SUPPORT

$1,500
View Grant Recipient Profile

Create an account to unlock the data you need.

or