Adopt-A-Family of the Palm Beaches Inc

Analysis

Adopt-A-Family of the Palm Beaches Inc is a registered charity in United States, based in Lake Worth, FL. It received its IRS tax-exemption ruling in December 1985, 41 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, Adopt-A-Family of the Palm Beaches Inc reported income of $9.5m and spending of $10.7m, spending 112% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $8.4m to $9.5m (+14%), an average of +4.5% a year. The sharpest change came in the year to June 2022, when income rose by 61%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Adopt-A-Family of the Palm Beaches Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Boys and Girls Club of the Kenai Peninsula ($9.5m), Wacosa ($9.5m) and Catholic Charities of Orange Sullivan & Ulster ($9.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $339k (3.2% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $17.3m against liabilities of $616k, net assets of $16.7m. It reported 89 employees.