2021-04-21T13:20:33-05:00 2020-06-30 570381582 ELLIOTT DAVIS LLCPLLC 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 990 2019-07-01 263245679 PALMETTO ACADEMY OF LEARNING AND SUCCESS PALM 8438391725 3021 FRED NASH BLVD MYRTLE BEACH SC 29577 COURTNEY DOWDY PRINCIPAL 8438391725 2021-04-21 1 DENISE P HILL P00046615 8032560002 2021-04-21 2019 2022-09-23 18:48:47Z COURTNEY DOWDY POST OFFICE BOX 15432 SURFSIDE SC 29587 3047807 0 X WWW.PALMETTOACADEMY.COM X 2008 SC TO CREATE A SMALL, DIVERSE LEARNING ENVIRONMENT THAT ACCOMODATES EACH STUDENT'S INDIVIDUAL DIFFERENCES, LEARNING STYLES, AND DEVELOPMENT WHILE PROMOTING HIGH EXPECTATIONS FOR ALL STUDENTS. BY PROVIDING MEANINGFUL AND INNOVATIVE LEARNING EXPERIENCES, INSTRUCTION FOR MULTIPLE LEARNING STYLES, ACCESS TO TECHNOLOGY, AND ENCOURAGING FAMILY AND COMMUNITY INVOLVEMENT, THE ORGANIZATION IS COMMITTED TO GUIDING STUDENTS IN THE DEVELOPMENT OF BOTH THEIR CHARACTER AND ACADEMIC POTENTIAL IN PREPARATION FOR THEIR SUCCESS AS LIFE LONG LEARNERS. 8 7 50 200 0 0 2664231 2771984 185345 163153 1147 215 87777 98639 2938500 3033991 0 0 0 0 1791047 1852964 0 0 0 1684844 1564755 3475891 3417719 -537391 -383728 7894539 7861231 12344159 12867812 -4449620 -5006581 TO CREATE A SMALL, DIVERSE LEARNING ENVIRONMENT THAT ACCOMODATES EACH STUDENT'S INDIVIDUAL DIFFERENCES, LEARNING STYLES, AND DEVELOPMENT WHILE PROMOTING HIGH EXPECTATIONS FOR ALL STUDENTS. 0 0 2964359 163153 ORGANIZED UNDER THE SOUTH CAROLINA CHARTER SCHOOL ACT, THE SCHOOL PROVIDES ACADEMIC CHOICE FOR PARENTS AND STUDENTS WHILE EXPANDING THE CAPACITY OF THE PUBLIC SCHOOL SYSTEM IN THE HORRY COUNTY SCHOOL DISTRICT. 2964359 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 7 0 1 50 1 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X COURTNEY DOWDY 8432931725 3021 FRED NASH BLVD MYRTLE BEACH SC 29577 COURTNEY DOWDY EXECUTIVE DIRECTOR 40.00 X 128277 0 36490 STEPHANIE CIONI CHAIR 0.50 X 0 0 0 JOHNATHAN PAINTER TREASURER 0.50 X 0 0 0 ERWIN MATA MEMBER 0.50 X 0 0 0 TONYA MUELLER MEMBER 0.50 X 0 0 0 JAMIE BAKER MEMBER 0.50 X 0 0 0 NICOLE YOUNG-CLINE MEMBER 0.50 X 0 0 0 SARAH RUSSELL MEMBER 0.50 X 0 0 0 128277 0 36490 1 0 1 0 0 2771274 710 2771984 LUNCH SALES 900099 103513 103513 PUPIL ACTIVITIES 900099 59640 59640 163153 215 215 86470 0 86470 86470 86470 25985 13816 12169 12169 3033991 163153 0 98854 X 1285657 1235544 50113 269477 258345 11132 193731 186726 7005 104099 100253 3846 1500 1500 21350 21350 201865 161495 40370 5426 4341 1085 649626 519701 129925 314643 251714 62929 62670 27797 34873 FOOD SUPPLIES 110430 110430 FISCAL SERVICES 58730 58730 INSTRUCTIONAL SUPPLIES 37109 37109 SUPPLIES 28592 22871 5721 72814 48033 24781 3417719 2964359 453360 0 544304 908006 9528 154292 64994 68041 7025019 1372042 5963142 5652977 1312571 1077915 7894539 7861231 112300 126070 20714 247020 12211145 12494722 12344159 12867812 X -3599307 -3846103 -850313 -1160478 -4449620 -5006581 7894539 7861231 X -383728 -173233 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6833698 1192468 5641230 170821 167557 3264 20500 12017 8483 5652977 DEFERRED PENSION INVESTMENT OUTFLOWS OF RESOURCES 799871 DEFERRED OPEB OUTFLOWS OF RESOURCES 278044 1077915 CAPITAL LEASE 6810244 PENSION OBLIGATION 2420807 INFLOWS OF RESOURCES 563735 OPEB OBLIGATION 2033543 DEFERRED OPEB INFLOWS OF RESOURCES 318182 CAPITAL LEASE PAYABLE 3211 PAYROLL PROTECTION LOAN PAYABLE 345000 12494722 3047807 13816 13816 3033991 0 3033991 3604768 187049 187049 3417719 0 3417719 PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH REVENUE 13,816. PART XII, LINE 2D - OTHER ADJUSTMENTS: ACCRUED CONTINGENT PENSION EXPENSES NOT DEDUCTED ON FORM 990 117,837. ACCRUED CONTINGENT OPEB EXPENSES NOT DEDCUCTED ON FORM 990 55,396. FUNDRAISING EXPENSES NETTED WITH REVENUE 13,816. 1 1 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES ITS NONDISCRIMINATORY STATEMENT ON ITS APPLICATION AND LOTTERY OVERVIEW SHEETS, IN THE PARENT/STUDENT HANDBOOK, FACULTY HANDBOOK AND ON ITS WEBSITE. SCHEDULE E, PART I, LINE 4 THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL. THEREFORE, IT DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL AID. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES VARIOUS GOVERNMENT GRANTS FROM BOTH FEDERAL AND STATE SOURCES. MISCELLANEOUS FUNDRAISING 25985 25985 13816 25985 25985 13816 13816 12169 0 0 0 0 0 0 0 1 0 COURTNEY DOWDY EXECUTIVE DIRECTOR 108277 0 20000 0 0 0 27730 0 8760 0 164767 0 0 0 PART I, LINE 7 THE SCHOOL PROVIDES ANNUAL DISCRETIONARY BONUSES BASED ON PERFORMANCE EVALUATIONS. NICHOLE YOUNG-CLINE - YOUNG TALKERS BOARD MEMBER 18354 SPEECH SERVICES 0 AMBER ROGERS - CREATIVE EDUCATIONAL SISTER OF COURTNEY DOWDY, PRINCIPAL 15222 CONSULTING SERVICES 0 AMBER ROGERS - PALMETTO PRESCHOOL SISTER OF COURTNEY DOWDY, PRINCIPAL 146437 PALMETTO PRESCHOOL PAID THE SCHOOL FOR RENT AND LUNCH SERVICES 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF FORM 990 IS REVIEWED BY THE BOARD, FINANCIAL MANAGEMENT COMPANY AND EXECUTIVE DIRECTOR PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS THE ANNUAL DISCLOSURES SUBMITTED BY EACH MEMBER. IN THE EVENT OF A POTENTIAL CONFLICT THAT PERSON RECUSES HIMSELF/HERSELF FROM ALL DISCUSSIONS AND/OR VOTE ON THE MATTER IN QUESTION. FORM 990, PART VI, SECTION B, LINE 15 THE INDEPENDENT BOARD PULLS DATA FROM THE COUNTY PAYSCALE AND PREPARES AN ANALYSIS TO ENSURE COMPENSATION IS APPROPRIATE FOR THE POSITION. THE DISCUSSIONS ARE DOCUMENTED IN THE BOARD MINUTES. FOR OTHER EMPLOYEES, SALARIES ARE SET BASED ON CERTIFICATION, YEARS TEACHING, DEGREE LEVEL AND SUBJECT AREA. THE BOARD DISCUSSES SALARY RAISES AND CHANGES EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 24E PUPIL ACTIVITY: PROGRAM SERVICE EXPENSES 28,479. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 28,479. INSTRUCTIONAL SERVICES: PROGRAM SERVICE EXPENSES 19,554. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,554. CONTRACTED ADMIN SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,152. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,152. MEMBERSHIP DUES AND FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 4,248. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,248. STAFF DEVELOPMENT AND TRAINING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 2,041. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,041. BOARD SUPPLIES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 340. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 340. FORM 990, PART XI, LINE 9: ACCRUED CONTINGENT PENSION EXPENSES -117,837. ACCRUED CONTINGENT OPEB EXPENSE -55,396.