Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1989.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
76 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
19 people listed on the 990; $883K paid to officers and key staff.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| James Chavez | $409,572 | $353,965 | $321,095 | $299,828 | $285,426 |
| James W Frost | — | $257,554 | $231,831 | $220,894 | $213,692 |
| Warren Darby JR | $236,902 | $203,673 | $183,707 | $175,351 | $167,558 |
| Rebecca Breland | $157,513 | $118,906 | $114,209 | $113,198 | $111,812 |
| Angelyn Smith | $125,655 | $111,915 | $101,862 | — | — |
| Marc Metcalf | $125,376 | $119,277 | — | — | — |
| Mary Sheridan | $8,568 | $10,635 | $3,900 | $5,318 | $1,418 |
| B Robert Paulling | — | $4,963 | $6,027 | $9,572 | $7,090 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Palmetto Economic Development Corp executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Promote economic growth by partnering with electric cooperatives to power communities.
Questions for Palmetto Economic Development Corp
Your first name shows with your question. Palmetto Economic Development Corp answers here, for everyone.
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
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $29K | $20K |
| Land, buildings, equipmentLn 10c | $296K | $233K |
| Total assetsLn 16 | $2.0M | $2.3M |
| LiabilitiesLn 26 | $126K | $133K |
| Net assetsLn 32 | $1.8M | $2.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $50K | $50K | ||
| Pay of current officers, directors and key staffLn 5 | $1.3M | $1.1M | $191K | |
| Other salaries and wagesLn 7 | $448K | $404K | $45K | |
| Pension plan contributionsLn 8 | $32K | $29K | $3K | |
| Other employee benefitsLn 9 | $115K | $103K | $11K | |
| Payroll taxesLn 10 | $97K | $87K | $10K | |
| Legal feesLn 11b | $40K | $40K | ||
| Accounting feesLn 11c | $41K | $41K | ||
| Other fees for servicesLn 11g | $243K | $243K | ||
| Advertising and promotionLn 12 | $132K | $132K | ||
| Office expensesLn 13 | $51K | $33K | $18K | |
| Information technologyLn 14 | $68K | $34K | $34K | |
| OccupancyLn 16 | $138K | $124K | $14K | |
| TravelLn 17 | $142K | $107K | $36K | |
| Conferences, conventions and meetingsLn 19 | $34K | $34K | ||
| Depreciation, depletion and amortizationLn 22 | $63K | $63K | ||
| InsuranceLn 23 | $23K | $23K | ||
| Other expenses (24a–d)Ln 24 | $246K | $246K | ||
| Total functional expensesLn 25 | $3.2M | $2.5M | $771K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 LatestFiled with the IRS Nov 12, 2025 | $4.6M | $4.1M | $515K | $2.3M | 990 PDF |
| FY2023Filed with the IRS Nov 14, 2024 | $4.1M | $4.1M | $27K | $1.9M | 990 PDF |
| FY2022 | $3.8M | $3.7M | $152K | $1.9M | 990 PDF |
| FY2021 ViewingFiled with the IRS Nov 10, 2022 | $3.4M | $3.2M | $186K | $2.2M | 990 PDF |
| FY2020Filed with the IRS Oct 27, 2021 | $3.2M | $2.7M | $434K | $1.8M | 990 PDF |
Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $3,424,081 revenue, 12 lines filed
Part VI · Governance 15 of 15 board members independent, 2 to look at
Part VIII · Statement of revenue $3,424,081 across 3 lines filed
Part IX · Statement of functional expenses $3,237,673 across 18 lines filed
Part X · Balance sheet $2,291,624 assets, 10 lines filed
Part XI · Reconciliation of net assets $2,158,202 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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