Palma School Foundation

Analysis

Palma School Foundation is a registered charity in United States, based in Salinas, CA. It received its IRS tax-exemption ruling in February 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Palma School Foundation reported income of $292k and spending of $110k, leaving 62% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $1.3m to $292k (-77%), an average of -39% a year. The sharpest change came in the year to December 2021, when income dropped by 60%. Over the whole period it spent 7.4% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palma School Foundation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include Ironworkers Local No 6 Joint Apprentice Training & Journeyman ($292k), North Jersey Talmud Torah Inc ($292k) and Young Authors Greenhouse ($292k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $2.5m against liabilities of $0, net assets of $2.5m.