2024-07-30T15:54:08-05:00 2022-12-31 571013298 HUTTO PRESTON & ASSOCIATES LLC 157 E BAY ST CHARLESTON SC 29401 990EZ 2022-01-01 300390898 PALMETTO PROFESSIONAL SOCIETY OF CHARLESTON PALM 8438539033 PO BOX 20211 CHARLESTON SC 29413 LANCE MENGEL TREASURER 8438539033 2024-07-30 1 0 ANDREW J PRESTON CPA P01540145 8435770148 2024-07-23 2022 2024-08-08 14:25:15Z X X WWW.THEPALMETTOSOCIETY.COM X X 151215 X 87290 63925 19234 44691 131981 33214 3410 92381 129005 2976 68358 0 71334 X 26858 71334 41500 0 68358 71334 0 0 68358 71334 X THE PALMETTO PROFESSIONAL SOCIETY OF CHARLESTON (THE "CORPORATION") WAS INCORPORATED ON SEPTEMBER 11, 2008, AS A SOUTH CAROLINA NONPROFIT, NON-STOCK PUBLIC BENEFIT CORPORATION WITH MEMBERS. THE CORPORATION WAS FORMED AND IS OPERATED EXCLUSIVELY FOR THE PROMOTION OF SOCIAL WELFARE WITH THE NET EARNINGS BEING DEVOTED EXCLUSIVELY TO CHARITABLE, EDUCATIONAL, OR RECREATIONAL PURPOSES. IN PARTICULAR, THE CORPORATION WAS FORMED IN THE SPIRIT OF ESTABLISHING FOR YOUNG PROFESSIONALS, AN OPPORTUNITY FOR ORGANIZED, PROGRESSIVE, AND SUSTAINED INVOLVEMENT IN THE LOCAL CHARLESTON, SOUTH CAROLINA COMMUNITY. TO DATE, THE ROSTER OF THE SOCIETY BOASTS ALMOST 100 MEMBERS. THE CORPORATION'S MEMBERS CONSIST OF YOUNG PROFESSIONALS REPRESENTING LOCAL INDUSTRIES INCLUDING REAL ESTATE, DEVELOPMENT, BANKING, FINANCIAL PLANNING, ACCOUNTING, MARKETING, ADVERTISING, HOSPITALITY, FOOD AND BEVERAGE, MEDICINE, LAW, INTERNATIONAL TRADE, PUBLISHING AND OTHER FIELDS. PROVIDED THE OVER 100 YOUNG PROFESSIONAL MEMBERS THE OPPORTUNITY FOR ORGANIZED, PROGRESSIVE, AND SUSTAINED INVOLVEMENT THROUGH LOCAL CHARLESTON EVENTS INCLUDING THE ANNUAL RED FISH TOURNAMENT THAT HAD OVER 125 PARTICIPANTS, A CHRISTMAS PARTY TO RAISE FUNDS FOR GIFTS FOR TOYS FOR TOTS, AND MEMBER EVENTS FOR RECREATIONAL AND NETWORKING PURPOSES. 0 85337 NET EARNINGS FROM EVENTS GO TO CHARITABLE OR EDUCATIONAL PURPOSES. IN THE CURRENT YEAR THAT INCLUDES OVER $5,000 IN INKIND GIFTS FOR TOYS FOR TOTS, OVER $4,200 IN FUNDING FOR THE FAMILIES OF DECEASED LOVED ONES, AND $25,000 FOR THE DOWN SYNDROME ASSOCIATION. 0 33214 118551 DAVE CARTER SECRETARY 2.00 0 0 0 JARED BLACK PRESIDENT 6.00 0 0 0 GEORGE RAMSAY VICE PRESIDENT 5.00 0 0 0 LANCE MENGEL TREASURER 4.00 0 0 0 X 0 0 0 0 0 0 0 0 0 0 0 SC BRAD PULASKI PO BOX 20211 CHARLESTON SC 29413 8438539033 0 0 0 0 0 0 0 RED FISH TOURNAMENT 63925 63925 19234 63925 63925 19234 19234 44691 FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: . GRANTEE NAME: BRODY BATES REDFISH TOURNEY. AMOUNT GIVEN: 2,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: . GRANTEE NAME: ANONYMOUS - FAMILY OF DECEASED . AMOUNT GIVEN: 1,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: . GRANTEE NAME: CAMP RISE ABOVE. AMOUNT GIVEN: 1,200. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: . GRANTEE NAME: DOWN SYNDROME ASSOCIATION OF THE LOWCOUNTRY. AMOUNT GIVEN: 25,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: . GRANTEE NAME: TOYS FOR TOTS. AMOUNT GIVEN: 4,014. TOTAL INCLUDED ON FORM 990-EZ, LINE 10: 33,214. FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES DESCRIPTION: BANK SERVICE CHARGES. AMOUNT: 2,593. DESCRIPTION: INSURANCE EXPENSE. AMOUNT: 2,177. DESCRIPTION: OFFICE EXPENSE. AMOUNT: 2,116. DESCRIPTION: GENERAL & ADMIN EXPENSE. AMOUNT: 158. DESCRIPTION: NETWORKING AND SOCIAL EVENTS. AMOUNT: 85,337. TOTAL TO FORM 990-EZ, LINE 16: 92,381. FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS DESCRIPTION: OTHER RECEIVABLE. BEG. OF YEAR AMOUNT: 41,500. END OF YEAR AMOUNT: 0. THIS TAX RETURN IS BEING FILED AS SOON AS INFORMATION WAS AVAILABLE TO DO SO. THE ORGANIZATION HAS HAD TURNOVER ON ITS ALL VOLUNTEER BOARD OF DIRECTORS, AND THE NEW BOARD WAS UNAWARE THAT THE 2022 990EZ HAD NOT BEEN FILED UNTIL CLOSING THE BOOKS FOR 2023. AS SOON AS THE MISSING FILING WAS DISCOVERED, THE TAX RETURN WAS PREPARED AND FILED. ACTIONS HAVE BEEN TAKEN TO PREVENT THIS FROM HAPPENING IN THE FUTURE. THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.