Palm Missionary Ministries Inc

Analysis

Palm Missionary Ministries Inc is a registered charity in United States, based in Hawthorne, FL. It received its IRS tax-exemption ruling in July 1988, 38 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 December 2023, Palm Missionary Ministries Inc reported income of $338k and spending of $350k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $313k to $338k (+7.8%), an average of +1.9% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palm Missionary Ministries Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 67th percentile within FL. Charities of a similar size with the same main cause include York Preparatory School Foundation ($338k), Minnesota Perinatal Organization ($338k) and New Haven Roadrace Inc ($338k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $154k against liabilities of $59k, net assets of $95k.