Nonprofit · EIN 26-4450679
PALMETTO SCHOLARS ACADEMY INC
Tax-exempt · N CHARLESTON, SC 29418
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $6,190,525 | $5,322,341 | $868,184 | $9,518,392 | $7,616,870 | $1,901,522 |
| June 30, 2024 | 990 | $5,256,098 | $5,243,779 | $12,319 | $8,917,921 | $7,884,583 | $1,033,338 |
| June 30, 2023 | 990 (amended) | $5,806,094 | $5,785,625 | $20,469 | $9,134,528 | $8,113,509 | $1,021,019 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $5,585,763
- of which government grants
- $5,584,677
- Program service revenue
- $501,527
- Investment income
- $103,235
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $112,132
- Other salaries and wages
- $2,577,008
- Salaries, compensation and benefits (total)
- $3,117,322
- Professional fundraising fees
- $0
- Legal fees
- $65,519
- Accounting fees
- $92,000
- Occupancy
- $393,028
- Travel
- $1,069
- Depreciation
- $256,277
- Program services (functional)
- $4,046,026
- Management and general (functional)
- $1,276,315
Balance sheet and other
- Total assets, start of year
- $8,917,921
- Total assets, end of year
- $9,518,392
- Total liabilities, end of year
- $7,616,870
- Net assets, end of year
- $1,901,522
- Land, buildings and equipment
- $6,090,092
- Gross receipts
- $6,190,525
- Employees
- 74
- Volunteers
- 0
- Year formed
- 2009
- State of legal domicile
- SC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICKY REYES | PRINCIPAL Officer | 40 | $112,132 |
| BRANDON GUINGRICH | BOARD CHAIR Trustee or director, Officer | 2 | $0 |
| KIM SCHULTZ | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| BETSY BALDWIN | SECRETARY Trustee or director, Officer | 2 | $0 |
| ALLEN TOPPING | TREASURER Trustee or director, Officer | 2 | $0 |
| KARSTEN MCELFRESH | BOARD MEMBER Trustee or director | 2 | $0 |
| LEASIA YOUNG | BOARD MEMBER Trustee or director | 2 | $0 |
| ERICKA GIACOMO | BOARD MEMBER Trustee or director | 2 | $0 |
| CHRISTINE LARUE | BOARD MEMBER Trustee or director | 2 | $0 |
| VACANT | BOARD MEMBER Trustee or director | 2 | $0 |
| DR KIMBERLY ZERBST | PRINCIPAL (FORMER) Officer | 40 | $0 |
990 for the year ended June 30, 2024: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR KIMBERLY ZERBST | PRINCIPAL (FORMER) Officer | 40 | $133,384 | $5,047 |
| RICKY REYES | PRINCIPAL Officer | 40 | $71,019 | $18,348 |
| BRANDON GUINGRICH | BOARD CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| KIM SCHULTZ | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| BETSY BALDWIN | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| ALLEN TOPPING | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| KARSTEN MCELFRESH | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| LEASIA YOUNG | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| ERICKA GIACOMO | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| CHRISTINE LARUE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| VACANT | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
990 for the year ended June 30, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DEAN WILKINS | PRINCIPAL Officer | 40 | $130,000 | $5,957 |
| CAMERON WHITWORTH | BOARD CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| FAITH BONGIORNO | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| KIM SCHULTZ | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| MANNY PEREZ-CARRILLO | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| ANDY PETERSON | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| ANJA DABELIC | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| BETSY BALDWIN | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| HANS BOCKSMICK | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| KARTSEN MCELFRESH | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 7499 DORCHESTER RD, N CHARLESTON, SC 29418-3310
- In care of
- % JONES POUNDER & ASSOC
- Principal officer (990 for 2024)
- RICKY REYES, 7499 DORCHESTER RD, NORTH CHARLESTON, SC 29418
- Signed the 990
- RICKY REYES, PRINCIPAL
- Phone
- (843) 300-4118
- Website
- WWW.PSASCHOOL.ORG
- Return prepared by
- MARTIN SMITH & COMPANY CPAS PA
Mission
PSA EXISTS TO MEET THE DISTINCTIVE ACADEMIC, SOCIAL, AND EMOTIONAL NEEDS OF STUDENTS BY UTILIZING THE BEST PRACTICES OF GIFTED EDUCATION.
Program accomplishments
- EDUCATED APPROXIMATELY 500 STUDENTS IN GRADES SIX THROUGH TWELVE DURING THE 2024-25 SCHOOL YEAR.Expenses $4,046,026 · revenue $501,027
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 26-4450679
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2013
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $9,518,392
- Income (IRS master file)
- $6,190,525
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $6,190,525 | $5,322,341 | $9,518,392 | IRS |
| 990 | June 2024 | $5,256,098 | $5,243,779 | $8,917,921 | IRS |
| 990 | June 2023 | $5,806,094 | $5,785,625 | $9,134,528 | XML |
| 990 | June 2022 | $5,087,229 | $5,755,125 | $9,207,434 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-4450679).
Questions about PALMETTO SCHOLARS ACADEMY INC
- What is the EIN of PALMETTO SCHOLARS ACADEMY INC?
- The employer identification number (EIN) of PALMETTO SCHOLARS ACADEMY INC is 26-4450679.
- Is PALMETTO SCHOLARS ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
- Are donations to PALMETTO SCHOLARS ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PALMETTO SCHOLARS ACADEMY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PALMETTO SCHOLARS ACADEMY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PALMETTO SCHOLARS ACADEMY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of PALMETTO SCHOLARS ACADEMY INC?
- The 990 for the year ended June 30, 2025 names RICKY REYES.
- Who are the officers and directors of PALMETTO SCHOLARS ACADEMY INC?
- The 990 for the year ended June 30, 2025 lists 11 people; 1 received compensation from the organization, the highest $112,132 (RICKY REYES, PRINCIPAL).
- How much revenue does PALMETTO SCHOLARS ACADEMY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $6,190,525, expenses of $5,322,341 and total assets of $9,518,392 at year end.
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