Palms Manor

Analysis

Palms Manor is a registered charity in United States, based in Culver City, CA. It received its IRS tax-exemption ruling in July 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Palms Manor reported income of $96k and spending of $113k, spending 117% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income grew from $75k to $96k (+28%), an average of +8.5% a year. The sharpest change came in the year to June 2022, when income rose by 35%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palms Manor 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 36th percentile, and in the 38th percentile within CA. Charities of a similar size with the same main cause include Hearts for Homes Inc ($96k), St Regis Housing Development Fund Corporation ($96k) and Papaaloa Housing Inc ($96k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 6.8% and program service revenue 85% of the total. At year end it held assets of $487k against liabilities of $966k, net assets of -$478k.