Friends of Palm Beach Inc

Analysis

Friends of Palm Beach Inc is a registered charity in United States, based in Palm BCH GDNS, FL. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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, Friends of Palm Beach Inc reported income of $121k and spending of $187k, spending 155% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $243k to $121k (-50%), an average of -16% a year. The sharpest change came in the year to December 2022, when income rose by 52%. Over the whole period it spent 99% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Friends of Palm Beach Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 46th percentile within FL. Charities of a similar size with the same main cause include Dumond Conservancy for Primates & Tropical Forest Inc ($121k), Living Observatory Inc ($121k) and Restore or Retreat ($121k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $60k (32% of expenses). Other salaries and wages came to $12k. At year end it held assets of $80k against liabilities of $0, net assets of $80k. It reported 4 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.