Park of the Palms Inc

Analysis

Park of the Palms Inc is a registered charity in United States, based in Keystone HGTS, FL. It received its IRS tax-exemption ruling in March 1974, 52 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Park of the Palms Inc reported income of $2.3m and spending of $2.2m, spending 97% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $2.2m to $2.3m (+5.9%), an average of +1.9% a year. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Park of the Palms Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include River of Refuge ($2.3m), Montgomery Housing Partnership Inc ($2.3m) and Housing Action Council Inc ($2.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 1.5% and program service revenue 98% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $4.0m against liabilities of $998k, net assets of $3.0m. It reported 87 employees.