2024-07-08T21:13:51Z 2023-12-31 990EZ 2023-01-01 261992363 DELTA BETA LAMBDA FOUNDATION DELT 8647042311 2040B SOUTH CHURCH STREET EXT SPARTANBURG SC 29306 JOHN W BRYANT CHAIRMAN 8647042311 2024-07-08 2023 2023-04-26 12:10:37Z X X https://palmettoleadership.org X X 542 542 542 456 456 86 598 684 598 684 0 0 53479 53479 54077 54163 53479 53479 598 684 To prepare free-market young leaders in business management, technology efficiency, and leadership through knowledge generation that improves free enterprise opportunities, student achievement, and financial success. Blue Initiative Program-Marketing Campaign 24000 24000 JOHN W BRYANT CHAIRMAN 5.00 0 0 0 E-VISION PROJECT DEVELOPMENT CORP TRUSTEE 10.00 0 0 0 THOMAS CLARK BOARD MEMBER 5.00 0 0 0 JOHN LEWIS BOARD MEMBER 1.00 0 0 0 JAMES MITCHELL JR BOARD MEMBER 1.00 0 0 0 JUAN GARCIA BOARD MEMBER 5.00 0 0 0 ROBERT PRESSLEY JR BOARD MEMBER 5.00 0 0 0 VAN STAGGS JR BOARD MEMBER 1.00 0 0 0 DYANNE LYLES BOARD MEMBER 1.00 0 0 0 EWTECHNERD LLC ADVISOR 10.00 0 0 0 false false false false false false false false SC JOHN W BRYANT 2040B SOUTH CHURCH STREET EXT SPARTANBURG SC 29306 8647293941 false false false false false false false false false false false false NONE 0 NONE 0 true X 0 Financial Challenges The financial challenges faced by the organization have been compounded by the ongoing economic uncertainty and reduced charitable giving. Despite efforts to increase fundraising and cut operational costs, the financial support necessary to sustain operations has not been forthcoming. Future Mission Continuation Anointed Connect Church will assume responsibility for continuing the programs and initiatives originally established by Palmetto Leadership Institute. This transition is expected to provide stability and continuity for the beneficiaries of the organizations programs and services. Palmetto Leadership Institute remains dedicated to fulfilling its mission and is committed to a transparent and orderly wind-down process. We believe that transferring the remaining assets and liabilities to Anointed Connect Church is in the best interest of all stakeholders and will help preserve the positive impact of our work within the community. Outstanding SBA COVID-19 Loan The organization currently has an outstanding SBA COVID-19 loan. Due to significantly reduced donations and financial support over the past year, the organization has been unable to meet the repayment obligations, resulting in the loan being placed in default. Plan to Wind Down Operations In light of these financial difficulties, Palmetto Leadership Institute has made the difficult decision to wind down its operations in 2024. The Board of Directors has approved a plan to systematically cease operations and manage the organization's remaining assets and liabilities responsibly. Transfer of Assets and Liabilities: As part of the winding-down process, Palmetto Leadership Institute plans to transfer any remaining assets and liabilities to Anointed Connect Church. This transfer aims to ensure that the mission of the organization can continue under the stewardship of Anointed Connect Church, which shares a common commitment to leadership development and community service. Over the past year, the Organization has not engaged in any significant activities, programs, or financial transactions. This period of inactivity has contributed to the delay in recognizing the need to file the Form 990-EZ on time. Multiple attempts were made to contact and engage the Board of Directors to obtain necessary information and approvals for filing the Form 990-EZ. Unfortunately, these efforts were met with non-responsiveness from the board members, which significantly hindered our ability to compile and submit the required information on time.