Palmer Memorial Foundation
- Assets
- $1.1m
- Revenue
- $411.7k
- Investments
- $0.0
- Employees
- 0
- Location
- West Union, IA
- Founding
- 01/1976
- Data as of
- 09/2023
- EIN
- 42-1032878
Organization Overview
Palmer Memorial Foundation is located in West Union, IA. The organization was established in 1976. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmer Memorial Foundation 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 09/2023, Palmer Memorial Foundation generated $411.7k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $18.4k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT GUNDERSEN PALMER LUTHERAN HOSPITAL AND CLINICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PALMER MEMORIAL FOUNDATION WAS ESTABLISHED IN 1975 AS A NON-PROFIT ORGANIZATION WHOSE SOLE OBJECTIVE AND PURPOSE IS TO FUND THE HEALTHCARE NEEDS OF NORTHEAST IOWA. OVER THE YEARS, GIFTS LARGE AND SMALL HAVE ASSISTED THE FOUNDATION IN PROVIDING NEW TECHNOLOGY, EDUCATION, SERVICES AND PROGRAMS TO THE COMMUNITY AND PALMER LUTHERAN HEALTH CENTER. DURING 2023, PALMER MEMORIAL FOUNDATION GRANTED FUNDS FOR THE FOLLOWING ITEMS: A MATTRESS, MONITORS, BOOKS AND WALKERS FOR HOSPICE PATIENTS, A FLAG AND FLAG POLE TO SUPPORT THE HOSPICE WE HONOR VETERANS PROGRAM BEREAVEMENT GIFTS FOR HOSPICE FAMILIES, HEARING DEVICES FOR SENIOR LIFE SOLUTIONS PATIENTS, UPGRADES TO INFUSION PATIENT ROOMS, MEALS FOR OB PATIENT FAMILIES, AND SUPPLIES FOR A TEDDY BEAR CLINIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tanya Rohwer President | OfficerTrustee | 0.5 | $0 |
Matt Cowley Treasurer | OfficerTrustee | 0.5 | $0 |
Tina Jacobs Secretary | OfficerTrustee | 0.5 | $0 |
Patrice Kuennen Administrator | Trustee | 0.5 | $0 |
Abby Ambroson Director | Trustee | 0.5 | $0 |
Clint Ambroson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $398,174 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $398,174 |
| Total Program Service Revenue | $0 |
| Investment income | $1,137 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,079 |
| Net Income from Fundraising Events | $7,359 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $411,691 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,595 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,354 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $18,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $518,302 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $594,519 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,112,821 |
| Accounts payable and accrued expenses | $5,222 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,222 |
| Net assets without donor restrictions | $1,107,599 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,112,821 |
Grants Awarded
Over the last fiscal year, Palmer Memorial Foundation has awarded $32,249 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PALMER LUTHERAN HEALTH CENTER INC PURPOSE: PURCHASE OF MEDICAL EQUIPMENT | $22,249 |
WEST UNION PARK & REC PURPOSE: GENERAL SUPPORT | $10,000 |