Community Foundation for Palm Beach & Martin Counties Inc

Analysis

Community Foundation for Palm Beach & Martin Counties Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in April 1972, 54 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Community Foundation for Palm Beach & Martin Counties Inc reported income of $26.1m and spending of $21.2m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $28.9m to $26.1m (-9.7%), an average of -2.5% a year. The sharpest change came in the year to June 2021, when income rose by 67%. Over the whole period it spent 66% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundation for Palm Beach & Martin Counties Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include United Way of Broward County ($26.0m), The Grady Health Foundation Inc ($26.2m) and Mia Rays Squadron Inc ($26.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $586k (2.8% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $244.7m against liabilities of $21.7m, net assets of $223.0m. It reported 29 employees.