Panama City Beach Senior Servicesfoundation Inc

Analysis

Panama City Beach Senior Servicesfoundation Inc is a registered charity in United States, based in Panama, FL. It received its IRS tax-exemption ruling in March 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Panama City Beach Senior Servicesfoundation Inc reported income of $141k and spending of $144k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $130k to $141k (+8.2%), an average of +2.0% a year. The sharpest change came in the year to December 2022, when income rose by 28%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Panama City Beach Senior Servicesfoundation Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 49th percentile within FL. Charities of a similar size with the same main cause include Our Daily Bread Community Outreach Center Inc ($141k), Safe Children Coalition Foundation Inc ($141k) and Food Pantry of North Branford Inc ($141k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% of the total. Other salaries and wages came to $28k. At year end it held assets of $827k against liabilities of $190, net assets of $827k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.