R Merle Palmer Minority Scholarship Foundation

Analysis

R Merle Palmer Minority Scholarship Foundation is a registered charity in United States, based in Lakewood, WA. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. 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, R Merle Palmer Minority Scholarship Foundation reported income of $1.4m and spending of $1.6m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $736k to $1.4m (+96%), an average of +18% a year. The sharpest change came in the year to June 2020, when income rose by 42%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, R Merle Palmer Minority Scholarship Foundation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within WA. Charities of a similar size with the same main cause include Arizona Chamber Foundation ($1.4m), Union Schools Education Foundation Inc ($1.4m) and Commission of Accreditation of Allied Health Education Programs ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $152k (9.4% of expenses). Other salaries and wages came to $592k. At year end it held assets of $1.7m against liabilities of $20k, net assets of $1.7m. It reported 17 employees.