Pallet Foundation

Analysis

Pallet Foundation is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in March 1998, 28 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Pallet Foundation reported income of $698k and spending of $500k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $557k to $698k (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 49% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pallet Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within VA. Charities of a similar size with the same main cause include Community Project ($698k), Harwich Junior Theatre Inc ($698k) and Istituto Italiano Scuola ($698k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $3.1m against liabilities of $90k, net assets of $3.1m.