Palmer Senior Citizens Center Inc

Analysis

Palmer Senior Citizens Center Inc is a registered charity in United States, based in Palmer, AK. It received its IRS tax-exemption ruling in October 1987, 39 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, Palmer Senior Citizens Center Inc reported income of $3.9m and spending of $3.1m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $3.9m (+27%), an average of +6.2% a year. The sharpest change came in the year to June 2023, when income rose by 46%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palmer Senior Citizens Center Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within AK. Charities of a similar size with the same main cause include Young Mens Christian Assoc ($3.9m), Jewish Community Center of Allentown Pennsylvania ($3.9m) and St Anthony Catholic High School Texas Inc ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $92k (2.9% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $14.3m against liabilities of $1.0m, net assets of $13.3m. It reported 49 employees.