Education Foundation of Palm Beach County Inc

Analysis

Education Foundation of Palm Beach County Inc is a registered charity in United States, based in LK Worth BCH, FL. It received its IRS tax-exemption ruling in August 1984, 42 years ago. 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, Education Foundation of Palm Beach County Inc reported income of $8.2m and spending of $4.1m, leaving 50% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.1m to $8.2m (+170%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 90%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Education Foundation of Palm Beach County Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Iowa Primary Care Association Inc ($8.2m), Augusta Christian Schools ($8.2m) and Stepping Stone School Inc for Exceptional Children Inc ($8.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $194k (4.7% of expenses). Other salaries and wages came to $659k. At year end it held assets of $8.8m against liabilities of $1.4m, net assets of $7.5m. It reported 10 employees.