Public Charity

PALMETTO STATE GROWTH FUND INC

PALMETTO STATE GROWTH FUND INC, of COLUMBIA, SC, is a Public Charity tracked in Imperigo's IRS 990 database. The 2024 filing shows $4.0M in revenue, $664K in expenses, $24.2M in total assets.

EIN: 570954747 COLUMBIA, SC Single Organization Support NTEE: W11 Latest filing: 2024
Total Revenue$4.0M
Total Expenses$664K
Total Assets$24.2M
Grant Records0
Filing Years2020–2024

Mission

PALMETTO STATE GROWTH FUND LESSENS THE BURDENS OF SOUTH CAROLINA'S STATE GOVERNMENT BY ASSISTING THE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY IN MEETING ITS STATUTORY PURPOSES AND OBLIGATIONS OF PROMOTING ECONOMIC DEVELOPMENT AND INCREASING AND/OR RETAINING EMPLOYMENT IN SOUTH CAROLINA.

Where $100 goes at Palmetto State Growth Fund Inc

How Palmetto State Growth Fund Inc divides every $100 it spends, from its own Form 990 filings, averaged across 8 years.

$86 Programs the work itself
$14 Management running the organization
$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $86 for programs

$62
Palmetto State Growth Fund is a limited partner in a sba small business investment company (sbic) which makes business loans and equity investments in lower middle market businesses
72% of program spending
$12
Palmetto State Growth Fund provides loan and equity funding for economic development initiatives that promote private business development and job growth
14% of program spending
$12
The company invests funds committed but not yet advanced in short term investments
About 14% (cost not reported)
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Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

DIRECTOR Brian Fast
DIRECTOR Greg Thompson
SECRETARY James A Shuford
PRESIDENT & Karen J Calhoun
DIRECTOR Michael W Nix

Officer compensation and complete director data available with membership.

Financial Trends

Year Revenue Expenses Assets
2024 $4.0M $664K $24.2M
2023 $1.6M $726K $21.4M
2022 $1.5M $516K $20.8M
2021 $878K $399K $19.9M
2020 $719K $425K $19.4M

Between 2020 and 2024, reported annual revenue grew from $719K to $4.0M (+458%), with total assets most recently reported at $24.2M.

Interactive year-over-year charts and full filing details available with membership.

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