Palmer College Foundation

Analysis

Palmer College Foundation is a registered charity in United States, based in Davenport, IA. It received its IRS tax-exemption ruling in January 1965, 61 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Palmer College Foundation reported income of $90.4m and spending of $70.2m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $73.7m to $90.4m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2022, when income rose by 15%. Over the whole period it spent 80% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palmer College Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IA. Charities of a similar size with the same main cause include Dominican University of California ($90.2m), Claflin University ($90.5m) and Dordt University Incorporated ($90.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $1.9m (2.7% of expenses). Other salaries and wages came to $24.2m. It paid $154k in professional fundraising fees. At year end it held assets of $297.7m against liabilities of $60.0m, net assets of $237.7m. It reported 1,051 employees.