Palms 23 Foundation

Analysis

Palms 23 Foundation is a registered charity in United States, based in Bennett, CO. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 December 2023, Palms 23 Foundation reported income of $51k and spending of $1,595, leaving 97% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $553 to $51k (+9045%), an average of +9045% a year. The sharpest change came in the year to December 2023, when income rose by 9045%. Over the whole period it spent 4.2% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Palms 23 Foundation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 17th percentile within CO. Charities of a similar size with the same main cause include Foreverchanged Ministries Inc ($51k), Windword Ministries ($51k) and Como Retreat Inc ($51k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $49k against liabilities of $0, net assets of $49k.