Palomar Health Foundation

Analysis

Palomar Health Foundation is a registered charity in United States, based in Escondido, CA. It received its IRS tax-exemption ruling in January 1987, 39 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Palomar Health Foundation reported income of $2.8m and spending of $4.6m, spending 165% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.0m to $2.8m (-7.5%), an average of -1.9% a year. The sharpest change came in the year to June 2020, when income rose by 77%. Over the whole period it spent 112% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Palomar Health Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Area IV Mental Health Services Coalition ($2.8m), Timely Mission Nursing Home ($2.8m) and Holy Family Medical Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $165k (3.6% of expenses). At year end it held assets of $5.8m against liabilities of $2.6m, net assets of $3.2m.