Palm Healthcare Foundation Inc

Analysis

Palm Healthcare Foundation Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in September 1984, 42 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 June 2023, Palm Healthcare Foundation Inc reported income of $2.0m and spending of $5.1m, spending 256% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $4.3m to $2.0m (-54%), an average of -23% a year. The sharpest change came in the year to June 2021, when income rose by 118%. Over the whole period it spent 80% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Palm Healthcare Foundation Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include S2ay Rural Health Network ($2.0m), Sierra Nevada Memorial Hospital Foundation ($2.0m) and Safe Embrace ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $474k (9.3% of expenses). Other salaries and wages came to $819k. At year end it held assets of $85.9m against liabilities of $651k, net assets of $85.2m. It reported 13 employees.