Palmer Memorial Foundation
- Assets
- $689.1k
- Revenue
- $229.5k
- Investments
- $0.0
- Employees
- 0
- Location
- West Union, IA
- Founding
- 01/1976
- Data as of
- 12/2021
- 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 12/2021, Palmer Memorial Foundation generated $229.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $60.4k during the year ending 12/2021. 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
2021
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 2021, PALMER MEMORIAL FOUNDATION GRANTED FUNDS FOR THE FOLLOWING ITEMS: HOSPICE LIFT CHAIR, STOPWATCH & TIMER FOR CARDIO PULMONARY, HOTLINE FLUID WARMERS FOR NURSING, SUCTION UNITS FOR OUR CLINICS, A TRAUMA CART FOR ED, A STAFF PICNIC TABLE, BABY OXIMETERS FOR HOME HEALTH, SUPPLIES FOR THE HOSPICE WE HONOR VETERANS PROGRAM, A PORTABLE REFRIGERATOR/FREEZER FOR OUR CLINIC, A DIGITAL DIAPER SCALE FOR NURSING, A SWAB DRYER FOR ED, A CLEAN TRACE TEST KIT FOR INFECTION PREVENTION, AN AIR MATTRESS AND WHEEL CHAIR FOR HOSPICE, AND A BIRTHING SIMULATOR AND BLANKET WARMER FOR OBSTETRICS. PROGRAMMING INCLUDED HEALTHY EATING AND EXERCISE PROGRAMS FOR AREA SCHOOLS AND SUPPORTING NUMEROUS OTHER AREA PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Katsumes Treasurer | OfficerTrustee | 0.5 | $0 |
Jayne Soppe Secretary (thru June) | OfficerTrustee | 0.5 | $0 |
Deb Chensvold President | OfficerTrustee | 0.5 | $0 |
Tanya Rohwer Vice President | OfficerTrustee | 0.5 | $0 |
Brenda Moser Finance Administrator | Officer | 0.5 | $0 |
Jamie Hoey Foundation Director | Officer | 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 | $228,142 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $228,142 |
| Total Program Service Revenue | $0 |
| Investment income | $1,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $229,535 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,655 |
| 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 | $5,418 |
| 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 | $9,320 |
| Total functional expenses | $60,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $439,142 |
| 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 | $250,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $689,142 |
| Accounts payable and accrued expenses | $12,017 |
| 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 | $12,017 |
| Net assets without donor restrictions | $677,125 |
| 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 | $689,142 |
Grants Awarded
Over the last fiscal year, Palmer Memorial Foundation has awarded $32,249 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
West Union, IA PURPOSE: PURCHASE OF MEDICAL EQUIPMENT | $22,249 |
West Union, IA PURPOSE: GENERAL SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Palmer Memorial Foundation has recieved totaling $83.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $83 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ozarks Coca-Cola Dr Pepper Bottling Company Group Health Care Trust Springfield, MO | $7,831,308 | $12,060,028 |
Ascension St John Foundation St Louis, MO | $103,759,239 | $15,321,918 |
Local Unions No 19 & 127 Health And Welfare Fund Milwaukee, WI | $5,120,951 | $9,222,695 |
Fairview Foundation Minneapolis, MN | $21,453,874 | $804,082 |
Truman Medical Center Charitable Foundation Kansas City, MO | $28,332,798 | $9,393,864 |
St John Health System Foundation Inc St Louis, MO | $83,967,930 | $10,002,573 |
Board Of Trustees Grand Charity Fund Grand Lodge Of Iowa A F & A M Bettendorf, IA | $8,195,762 | $6,393,688 |
Mercy Health Foundation Springfield Springfield, MO | $38,275,531 | $1,985,040 |
Delta Dental Of Minnesota Trust Minneapolis, MN | $161,726,707 | $13,740,122 |
Northern Illinois & Iowa Laborers Health & Welfare Trust Rock Island, IL | $41,445,522 | $10,740,192 |
Wilson Trailer Company Employee Health Care Fund Sioux City, IA | $3,702,080 | $7,031,035 |
Hennepin Health Foundation Minneapolis, MN | $36,610,127 | $10,869,392 |