Palmer Memorial Foundation

Analysis

Palmer Memorial Foundation is a registered charity in United States, based in West Union, IA. It received its IRS tax-exemption ruling in January 1976, 50 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Palmer Memorial Foundation reported income of $412k and spending of $18k, leaving 96% of income unspent that year. Across the 4 years on record, from December 2020 to September 2023, income grew from $108k to $412k (+282%), an average of +56% a year. The sharpest change came in the year to September 2023, when income rose by 301%. Over the whole period it spent 22% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palmer Memorial Foundation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 70th percentile within IA. Charities of a similar size with the same main cause include Vermont International Film Foundation ($412k), National Ski Patrol System Inc ($412k) and Abiding Life Ministries International ($412k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $1.1m against liabilities of $5,222, net assets of $1.1m.