Palmer House Inc

Analysis

Palmer House Inc is a registered charity in United States, based in Laud Lakes, FL. It received its IRS tax-exemption ruling in October 1985, 41 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 June 2023, Palmer House Inc reported income of $26.5m and spending of $1.9m, leaving 93% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.7m to $26.5m (+1420%), an average of +148% a year. The sharpest change came in the year to June 2023, when income rose by 1405%. Over the whole period it spent 20% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palmer House Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include CRF Affordable Housing Inc ($26.4m), Apv Redevelopment Corporation ($26.7m) and The Arc Morris County Chapter NJ Inc ($26.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 7.1% of the total. Other salaries and wages came to $169k. At year end it held assets of $24.6m against liabilities of $327k, net assets of $24.3m. It reported 8 employees.