Las Palmas Foundation

Analysis

Las Palmas Foundation is a registered charity in United States, based in Encinitas, CA. It received its IRS tax-exemption ruling in July 1992, 34 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 2023, Las Palmas Foundation reported income of $2.1m and spending of $1.4m, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.1m (+84%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 49%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Las Palmas Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Global Scholars ($2.1m), Wichita Falls Independent School District Foundation Inc ($2.1m) and Poultry Science Association Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 87% of the total. Compensation of current officers, directors and key employees was $765k (56% of expenses). Other salaries and wages came to $243k. At year end it held assets of $7.5m against liabilities of $917, net assets of $7.5m. It reported 7 employees.