Catholic Charities-The Palms at University Inc

Analysis

Catholic Charities-The Palms at University Inc is a registered charity in United States, based in Seminole, FL. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Catholic Charities-The Palms at University Inc reported income of $319k and spending of $409k, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $257k to $319k (+24%), an average of +5.6% a year. Over the whole period it spent 136% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Catholic Charities-The Palms at University Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 66th percentile within FL. Charities of a similar size with the same main cause include High Country Conservation Advocates ($319k), Proactive Project Inc ($319k) and Kcym Philanthropic Fund ($319k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $9,343. At year end it held assets of $2.8m against liabilities of $3.2m, net assets of -$387k.

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.