Mary Palmer Family Foundation Inc
- Assets
- $1.0m
- Revenue
- $178.7k
- Investments
- $1.0m
- Employees
- 0
- Location
- Gurnee, IL
- Founding
- 08/2014
- Data as of
- 11/2023
- EIN
- 32-0426825
Organization Overview
Mary Palmer Family Foundation Inc is located in Gurnee, IL. The organization was established in 2014. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mary Palmer Family Foundation Inc 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 11/2023, Mary Palmer Family Foundation Inc generated $178.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $109.2k during the year ending 11/2023. While expenses have increased by 8.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mary Palmer Family Foundation Inc has awarded 130 individual grants totaling $569,811. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Palmer Chairman | 10 | $0 | |
J John Henderson Secretary | 1 | $0 | |
Jennifer L Palmer Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $152,552 |
| Interest on Savings | $4,397 |
| Dividends & Interest | $28,459 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$6,742 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $178,666 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,902 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $531 |
| Total operating and administrative expenses | $20,691 |
| Contributions, gifts, grants paid | $88,503 |
| Total expenses and disbursements | $109,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,911 |
| Savings and temporary cash investments | $0 |
| 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 | $1,011,284 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,045,195 |
| 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 |
Grants Awarded
Over the last fiscal year, Mary Palmer Family Foundation Inc has awarded $88,503 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
RONALD MCDONALD HOUSE PURPOSE: BENEVOLENCE | $1,000 |
FRIENDS OF THE ORLANDO PHILHARMONIC ORCH PURPOSE: BENEVOLENCE | $1,250 |
UNIVERSITY OF CENTRAL FLORIDA PURPOSE: BENEVOLENCE | $10,000 |
FLORIDA MUSIC EDUCATION ASSOCIATION PURPOSE: BENEVOLENCE | $1,150 |
MENTAL HEALTH ASSN OF CENTRAL FLORIDA PURPOSE: BENEVOLENCE | $150 |
FLORIDA ALLIANCE FOR THE ARTS PURPOSE: BENEVOLENCE | $1,000 |