Frank Loomis Palmer Fund Trust
- Assets
- $35.4m
- Revenue
- $2.5m
- Investments
- $34.5m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 07/1942
- Data as of
- 07/2022
- EIN
- 06-6026043
Organization Overview
Frank Loomis Palmer Fund Trust is located in Dallas, TX. The organization was established in 1942. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frank Loomis Palmer Fund Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2022, Frank Loomis Palmer Fund Trust generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (34.2%) each year. All expenses for the organization totaled $2.2m during the year ending 07/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,243,023 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,239,498 |
| Capital Gain Net Income | $1,239,498 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,633 |
| Total Revenue | $2,511,154 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $222,538 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $38,542 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $450 |
| Total operating and administrative expenses | $371,290 |
| Contributions, gifts, grants paid | $1,788,825 |
| Total expenses and disbursements | $2,160,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $911,386 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $35,387,465 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
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