Palomar Health Development Inc

Analysis

Palomar Health Development Inc is a registered charity in United States, based in Escondido, CA. It received its IRS tax-exemption ruling in October 2005, 21 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Palomar Health Development Inc reported income of $3.7m and spending of $3.5m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $3.7m (+2.6%), an average of +0.6% a year. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palomar Health Development Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Jewish Federatio of Greater Naples Inc ($3.7m), Wharton Institute for the Performing Arts Inc ($3.7m) and Pride Live Inc ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $1.9m. At year end it held assets of $2.9m against liabilities of $2.4m, net assets of $426k.