2024-05-07T04:25:47-05:00 2023-06-30 570381582 ELLIOTT DAVIS LLCPLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2022-07-01 272409627 PALMETTO ACADEMY FOR LEARNING MOTORSPORTS PALM 8439036600 825 W COX FERRY ROAD CONWAY SC 295268510 KRISTIN MCCLELLAN CHAIRMAN 8439036600 2024-05-06 1 KRISTIN MCCLELLAN 999009999 1 JANICE A RATICA P00358837 7043338881 2024-05-06 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z KRISTIN MCCLELLAN 826 WEST COX FERRY ROAD CONWAY SC 29526 3021585 0 X PALMSC.ORG X 2012 SC THE PALMETTO ACADEMY OF LEARNING MOTORSPORTS IS A VOCATIONAL SCHOOL THAT IS RELATED TO PALM CHARTER HIGH SCHOOL, A TUITION-FREE PUBLIC CHARTER SCHOOL OPEN TO ALL HORRY COUNTY STUDENTS, GRADES 9-12. WE OFFER A TECHNOLOGY-BASED BLENDED LEARNING ENVIRONMENT LEADING TO A SOUTH CAROLINA HIGH SCHOOL DIPLOMA. 7 7 37 7 0 0 3220049 2921712 60538 83317 408 2956 15300 13600 3296295 3021585 0 0 0 0 1803111 1791886 0 0 0 932830 999790 2735941 2791676 560354 229909 6021291 6037732 5489682 5276214 531609 761518 X THE PALMETTO ACADEMY FOR LEARNING MOTORSPORTS, INC. (PALM) MISSION IS TO FOCUS THE INDIVIDUAL LEARNER ON DEVELOPING THEIR ACADEMIC AND SKILLS TRAINING INTO CAREER, SOCIAL, AND ACADEMIC GOALS THROUGH THE DEVELOPMENT OF SUPPORTIVE RELATIONSHIPS THAT FOSTER INDIVIDUAL RESPONSIBILITY AND ACCOUNTABILITY THROUGH A COMPREHENSIVE RIGOROUS ACADEMIC AND COMPETENCY-BASED CURRICULUM.THE PALMETTO ACADEMY FOR LEARNING MOTORSPORTS CHARTER SCHOOL, INC. (PALM) PROVIDES AN INNOVATIVE ENVIRONMENT FOR SUCCESS THROUGH A RIGOROUS, HIGH-QUALITY ACADEMIC CHARTER HIGH-SCHOOL PROGRAM THAT BLENDS WITH A COMPETENCY-BASED CURRICULUM PERTAINING TO THE MOTORSPORTS INDUSTRIES. 0 0 2526428 83317 PALM IS A VOCATIONAL HIGH SCHOOL THAT COLLABORATES WITH STUDENTS, FAMILIES, AND THE COMMUNITY TO SUCCESSFULLY EDUCATE ALL STUDENTS IN ORDER TO PREPARE THEM FOR THEIR CHOSEN CAREER AND TEACH THEM HOW TO BECOME PRODUCTIVE, SELF-SUPPORTING CITIZENS. STUDENTS PARTICIPATE IN EITHER MOTORSPORTS TECHNOLOGY, WELDING TECHNOLOGY, AUTO COLLISION TECHNOLOGY OR GRAPHICS. OUR VOCATIONAL STAFF BRING YEARS OF EXPERIENCE IN THEIR FIELDS AND HAVE SUCCESSFULLY PLACED STUDENTS IN JOBS RELATED TO PALM VOCATIONAL PROGRAMS. 2526428 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 37 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN A MOORE 8439036600 826 WEST COX FERRY ROAD CONWAY SC 29526 JOHN ROSADO MEMBER 1.00 X 0 0 0 WOODY MARTIN MEMBER 1.00 X 0 0 0 RAYMOND HICKS MEMBER 1.00 X 0 0 0 GIZELLA STUDWELL MEMBER 1.00 X 0 0 0 WALTER AKIN MEMBER 1.00 X 0 0 0 KRISTIN MCCLELLAN CHAIRMAN 1.00 X X 0 0 0 DAWN JEWELL SECRETARY 1.00 X X 0 0 0 JOHN A MOORE PRINCIPAL 40.00 X 84246 0 5858 84246 0 5858 0 0 0 0 0 2921712 2921712 LUNCH SALES 900099 59156 59156 PUPIL ACTIVITIES 900099 24161 24161 83317 2956 2956 10800 0 10800 10800 10800 2800 0 2800 2800 3021585 83317 0 16556 1444144 1383542 60602 21998 20789 1209 204992 196674 8318 120752 116520 4232 37409 37409 925 925 24550 24550 33460 33460 114791 91833 22958 553 442 111 108701 86961 21740 173749 138999 34750 46340 37072 9268 SUPPLIES 228790 223074 5716 PURCHASED SERVICES 111071 111071 FOOD SERVICES 58778 58778 PUPIL ACTIVITY 42799 42799 17874 17874 2791676 2526428 265248 0 1115088 1176571 21766 21722 5255623 541450 4573618 4714173 310819 125266 6021291 6037732 31229 15427 235309 160309 5223144 5100478 5489682 5276214 X 1159997 1138597 -628388 -377079 531609 761518 6021291 6037732 229909 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 400000 400000 4321366 294357 4027009 95949 46421 49528 289101 167998 121103 149207 32674 116533 4714173 3021585 0 3021585 0 3021585 2791675 0 2791675 0 2791675 SCHEDULE D, PAGE 4, PART XI AND XII THE AUDITED FINANCIAL STATEMENTS (AFS) ARE PREPARED BASED ON GOVERNMENTAL FUND ACCOUNTING BASIS (I.E. REGULATORY ACCOUNTING PRINCPLES). AS A RESULT, CERTIN ITEMS OF EXPENSE ON THE AFS ARE NOT INCLUDED AS AN EXPENSE ON FORM 990 SUCH AS PRINCIPAL DEBT PAYMENTS AND CAPITAL OUTLAYS FOR FIXED ASSETS, ETC. THE ADJUSTMENTS PROVIDED IN PART XI AND PART XII HAVE BEEN MADE TO PRESENT THE STATEMENT OF REVENUE AND STATEMENT OF FUNCTIONAL EXPENSE ON FORM 990 IN A MANNER CONSISTENT WITH THE ACCRUAL BASIS OF ACCOUNTING UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES ITS NONDISCRIMINATORY STATEMENT IN ITS STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 4 THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL. THEREFORE, IT DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL AID. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES GOVERNMENTAL FUNDING FROM VARIOUS STATE AND FEDERAL AGENCIES, INCLUDING THE STATE OF SOUTH CAROLINA. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS IS PRESENTED A COPY OF THE RETURN FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS AND ACKNOWLEDGES THE CONFLICTS OF INTEREST POLICY ON AN ANNUAL BASIS. IN THE EVENT A POTENTIAL CONFLICT ARISES DURING THE YEAR, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS. FORM 990, PART VI, SECTION B, LINE 15 WHEN A KEY EMPLOYEE, SUCH AS A PRINCIPAL, IS HIRED, HIS/HER RESUME ALONG WITH SALARY REQUIREMENTS IS REVIEWED. A CONTRACT IS PROVIDED TO HIM/HER. THIS CONTRACT IS SIGNED BY THE EMPLOYEE & THE BOARD CHAIRMAN. A BUDGET ALONG WITH A SALARY SCHEDULE IS PROVIDED TO THE BOARD ON AN ANNUAL BASIS, NORMALLY IN JUNE FOR THE FISCAL YEAR BEGINNING JULY 1ST. THIS SALARY SCHEDULE LISTS ALL EMPLOYEES AND THEIR SALARIES. THE BOARD APPROVES THIS SCHEDULE AT THE SAME TIME THE ANNUAL BUDGET IS APPROVED. THIS APPROVAL IS DOCUMENTED IN THE MINUTES. THIS SALARY SCHEDULE IS COMPILED BY ADMINISTRATION AND PRESENTED TO THE BOARD FOR THEIR REVIEW AND APPROVAL. ADMINISTRATION VIEWS COMPARABLE DATA FROM THE HORRY COUNTY SCHOOL SYSTEM AND STRIVES TO PROVIDE A COMPETITIVE SALARY FOR EACH EMPLOYEE. ALL DECISIONS ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PAGE 12, PART XII, LINE 2C: THE BOARD OF DIRECTORS OVERSEE THE AUDIT PROCESS.