Palm Avenue Baptist Tower Inc

Analysis

Palm Avenue Baptist Tower Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in August 1972, 54 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 March 2023, Palm Avenue Baptist Tower Inc reported income of $3.2m and spending of $3.2m, spending 102% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $2.7m to $3.2m (+19%), an average of +5.9% a year. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palm Avenue Baptist Tower Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($3.2m), Trinity Manor Inc ($3.2m) and San Antonio Housing Trust Foundation Inc ($3.2m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Other salaries and wages came to $535k. At year end it held assets of $1.4m against liabilities of $828k, net assets of $590k.