Palmetto Achievement Center For Exc Ellence Academy Inc
- Assets
- $6.5m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 34
- Location
- Columbia, SC
- Founding
- Data as of
- 06/2022
- EIN
- 84-2613516
Organization Overview
Palmetto Achievement Center For Exc Ellence Academy Inc is located in Columbia, SC. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Palmetto Achievement Center For Exc Ellence Academy Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmetto Achievement Center For Exc Ellence Academy 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 06/2022, Palmetto Achievement Center For Exc Ellence Academy Inc generated $3.4m in total revenue. All expenses for the organization totaled $3.0m during the year ending 06/2022. While expenses have increased by 60.1% per year over the past 2 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PACE IS TO PROVIDE STUDENTS WITH AN INDIVIDUALIZED, RESEARCH-BASED EDUCATIONAL EXPERIENCE THAT ENABLES CHILDREN, INCLUDING THOSE WITH LANGUAGE-BASED DIFFICULTIES, TO ACHIEVE ACADEMIC EXCELLENCE IN THE GENERAL EDUCATION CLASSROOM THEREBY DECREASING THE NEED FOR EXPERIENCE THAT ENABLES CHILDREN, INCLUDING THOSE WITH LANGUAGE-BASED DIFFICULTIES, TO ACHIEVE ACADEMIC EXCELLENCE IN THE GENERAL EDUCATION CLASSROOM THEREBY DECREASING THE NEED FOR DIRECT SPECIAL EDUCATION SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PALMETTO ACHIEVEMENT CENTER FOR EXCELLENCE (PACE) ACADEMY, AN ALTERNATIVE EDUCATION CAMPUS (AEC), PUBLIC CHARTER SCHOOL, PROVIDES EVIDENCE-BASED, MULTI-SENSORY, STRUCTURED LANGUAGE INSTRUCTION TO STUDENTS IN THE SOUTH CAROLINA MIDLANDS. WE ARE COMMITTED TO PROVIDING A QUALITY EDUCATIONAL CHOICE FOR STUDENTS WITH DYSLEXIA OR OTHER LANGUAGE-BASED LEARNING DIFFERENCES WHO WOULD BENEFIT FROM ORTON-GILLINGHAM INSTRUCTIONAL METHODS. ALL STUDENTS AT PACE ACADEMY ATTEND AN ACE (ACADEMIC CORE ENRICHMENT) CLASS EVERY DAY FOR 30-45 MINUTES. DURING THIS ACE TIME, STUDENTS ARE PLACED IN GROUPS BASED ON THEIR NEEDS TO HELP CLOSE THE GAP IN PHONOLOGICAL AWARENESS AND DECODING SKILLS. STUDENTS RECEIVE INSTRUCTION USING A STRUCTURED LITERACY APPROACH WHICH INCLUDES PROJECT READ (LANGUAGE CIRCLE ENTERPRISES) AND OTHER ORTON-GILLINGHAM BASED INSTRUCTION. PACE OPENED AS A NEW SCHOOL IN THE FALL OF 2021 WITH 77% OF THE STUDENT POPULATION HAVING DOCUMENTED DISABILITIES: 16 STUDENTS WITH A 504 PLAN AND 127 STUDENTS WITH AN INDIVIDUAL EDUCATION PLAN (IEP). COMBINED WITH THE ADDITIONAL CHALLENGES OF A GLOBAL PANDEMIC, MANY LESS DETERMINED INDIVIDUALS WOULD HAVE QUIT BEFORE THEY EVEN STARTED! PACE ACADEMY IS PROUD TO BE THE FIRST TUITION-FREE SCHOOL IN THE MIDLANDS FOR STUDENTS WITH DYSLEXIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Wilson Board Chair | OfficerTrustee | 1 | $0 |
Katrina Mack-Snider Board Vice Chair | OfficerTrustee | 1 | $0 |
Rebekah Barnes Treasurer | OfficerTrustee | 1 | $0 |
Jessica Becerra Secretary | OfficerTrustee | 1 | $0 |
John Thompson Board Member | Trustee | 1 | $0 |
Sally Thornton Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,219,926 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,594 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,265,520 |
| Total Program Service Revenue | $150,739 |
| Investment income | $156 |
| 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 | $3,416,415 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,356,850 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $148,932 |
| Payroll taxes | $98,075 |
| Fees for services: Management | $20,856 |
| Fees for services: Legal | $17,613 |
| Fees for services: Accounting | $24,464 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $148,942 |
| Advertising and promotion | $10,735 |
| Office expenses | $47,147 |
| Information technology | $108,917 |
| Royalties | $0 |
| Occupancy | $157,792 |
| Travel | $942 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $443,289 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $139,076 |
| Insurance | $1,557 |
| All other expenses | $22,576 |
| Total functional expenses | $2,992,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $990,793 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $385,393 |
| 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 | $5,144,029 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,105 |
| Total assets | $6,522,320 |
| Accounts payable and accrued expenses | $512,930 |
| Grants payable | $0 |
| Deferred revenue | $16,881 |
| Tax-exempt bond liabilities | $5,780,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $475,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,784,811 |
| 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 | -$262,491 |
| Total liabilities and net assets/fund balances | $6,522,320 |