Palm Bay Education Group Inc

Analysis

Palm Bay Education Group Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in September 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Palm Bay Education Group Inc reported income of $7.3m and spending of $8.0m, spending 109% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $12.1m to $7.3m (-40%), an average of -16% a year. The sharpest change came in the year to June 2021, when income dropped by 25%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palm Bay Education Group Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include California State University Dominguez Hills Philanthropic Foun ($7.3m), Successful Practices Network Inc ($7.3m) and Rockford Rescue Mission Ministries ($7.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 85% of the total. At year end it held assets of $22.9m against liabilities of $10.6m, net assets of $12.3m. It reported 145 employees.