The information for Arnold & Winnie Palmer Foundation Inc is as of the organization's most recent filing in June '21. This organization is located in Orlando, FL. It has been in existence for 7 years, following its founding in 2014.
The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.
The Arnold & Winnie Palmer Foundation Inc's NTEE code is T90. The "T" tells us that the organization is classified along with Philanthropy, Voluntarism & Grantmaking Foundations. The "90" tells us that the organization is a Named Trusts N.E.C. The NTEE describes Named Trusts N.E.C. as trusts that are not classified elsewhere. The organization is also identified as a 501(c)(3) organization, which means it is engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work. The mission of the Arnold & Winnie Palmer Foundation Inc is to promote youth character development, children's health, environmental stewardship, and well-being. Additionally, the foundation aims to preserve, enhance, and promote the legacy of Arnold Palmer in golf and American history, sharing it with the public as a practical and inspirational component of its charitable and educational pillars.
Program Area 1: The organization provides financial support to institutions and organizations that promote youth character development, children's health, environmental stewardship, and well-being. They also focus on preserving, enhancing, and promoting the legacy of Arnold Palmer in golf and American history. Additionally, in 2021, "Arnie's Challenge" was held to grant funds to an organization fulfilling its mission to invest in the well-being of children and youth, ensuring and creating opportunities for them to live safe, healthy, and fulfilling lives.
Program Area 2: During FY20/21, the organization held two Palmer Cups, with the first event taking place in December 2020 and the second in June 2021. The purpose of these collegiate events is to promote the development of youth golfers and pass on Mr. Arnold Palmer's values to the next generation of golfers. This program area focuses on the specific activities and initiatives related to the Palmer Cups, which are not reported under any other fund or program.
The Arnold & Winnie Palmer Foundation Inc appears to be well-governed based on the provided information. The organization has a total of 6 voting members, all of whom are independent. This indicates that there is no potential for conflicts of interest among the decision-making body of the organization. Furthermore, the organization has a conflict of interest policy in place, which requires the disclosure of any conflicts that may arise. Both board meetings and committee meetings are documented, ensuring transparency and accountability within the organization. This documentation allows for a clear record of discussions and decisions made during these meetings. Additionally, the organization provides copies of the 990 form to the board prior to filing, which indicates a commitment to financial transparency. However, there are some areas where the organization could improve its governance practices. The absence of a written whistleblower policy and a document retention policy leaves room for potential gaps in reporting and record-keeping processes. Additionally, the organization does not substantiate or review leadership salaries or officer's salaries, which could raise concerns about the fairness and appropriateness of compensation within the organization. Overall, the Arnold & Winnie Palmer Foundation Inc demonstrates strong governance practices, particularly in terms of independence, transparency, and conflict of interest management. However, there are areas where the organization could enhance its governance framework to ensure even greater accountability and compliance.
Our dataset includes four years of grant history for the Arnold & Winnie Palmer Foundation Inc. In those four years, they have awarded a total of 26 grants, with an average check size of $311,757. The organization primarily awards grants in the Philanthropy, Voluntarism & Grantmaking Foundations sector. In terms of geographical distribution, the majority of their grants were awarded in Florida (16), followed by Pennsylvania (5), Georgia (2), Colorado (2), and Arkansas (1). On average, they award around 7 grants per year.
The Arnold & Winnie Palmer Foundation Inc has experienced a decrease in contributions and grants received over the given time period, from $17.4M in 2015 to $2.3M in 2020. However, their investment income has increased from $21.6K in 2015 to $316.0K in 2020. The other revenue line item is not meaningful over this time period as it went from $0 in 2015 to -$6000 in 2020. The total revenue has also decreased from $17.4M in 2015 to $2.6M in 2020. On the other hand, grants paid by the organization have increased significantly from $34.5K in 2015 to $2.0M in 2020. Employee salaries, which were initially $0 in 2015, have reached $356.5K in 2020, but this line item is not meaningful over this time period. The total expenses of the organization have increased from $54.8K in 2015 to $3.1M in 2020. Lastly, the number of total volunteers has seen an increase from 8 in 2015 to 25 in 2020. Overall, the organization has experienced a mixed growth pattern with decreases in certain areas, such as contributions and total revenue, but increases in others, such as investment income, grants paid, total expenses, and total volunteers.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ken Boehner Board Chair | OfficerTrustee | 1 | $0 |
Brian Battles Treasurer | Officer | 5 | $0 |
Kristin Raymond Secretary | Officer | 5 | $0 |
David Barger Director | Trustee | 1 | $0 |
Mike Mccarley Director | Trustee | 1 | $0 |
Amy Saunders Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $77,599 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $2,215,910 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,293,509 |
Total Program Service Revenue | $0 |
Investment income | $258,338 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $57,681 |
Net Income from Fundraising Events | -$6,000 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,603,528 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $2,033,845 |
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 | $282,598 |
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 | $42,668 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $42,966 |
Fees for services: Other | $170,309 |
Advertising and promotion | $0 |
Office expenses | $15,827 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $17,230 |
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 | $13,958 |
Insurance | $2,118 |
All other expenses | $0 |
Total functional expenses | $3,084,902 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,635,588 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $443,931 |
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 | $4,080 |
Net Land, buildings, and equipment | $76,504 |
Investments—publicly traded securities | $18,582,294 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $20,742,397 |
Accounts payable and accrued expenses | $82,879 |
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 | $82,879 |
Net assets without donor restrictions | $20,503,268 |
Net assets with donor restrictions | $156,250 |
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 | $20,742,397 |
Over the last fiscal year, Arnold & Winnie Palmer Foundation Inc has awarded $2,033,845 in support to 6 organizations.
Grant Recipient | Amount |
---|---|
Orlando, FL PURPOSE: TO SUPPORT CHILDREN'S HEALTH AND WELL-BEING AND NICU OPERATIONS | $1,708,042 |
Orlando, FL PURPOSE: SUPPORT LAKE LORNA DOONE NATURE ENHANCEMENTS | $200,000 |
Latrobe, PA PURPOSE: TO SUPPORT NATURE FOCUSED WELLNESS | $74,392 |
IDEAS FOR US PURPOSE: TO SUPPORT NATURE FOCUSED WELLNESS | $36,320 |
Little Rock, AR PURPOSE: TO SUPPORT YOUTH DEVELOPMENT | $10,000 |
Altamonte Springs, FL PURPOSE: TO SUPPORT YOUTH DEVELOPMENT | $5,091 |
Over the last fiscal year, we have identified 4 grants that Arnold & Winnie Palmer Foundation Inc has recieved totaling $563,845.
Awarding Organization | Amount |
---|---|
Pga Tour Inc Ponte Vedra Beach, FL PURPOSE: GENERAL SUPPORT | $555,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $7,500 |
Hegi Family Foundation Dallas, TX PURPOSE: SUPPORT FOR CHILDREN WITH HEALTH PROBLEMS | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $345 |
Beg. Balance | $10,407,204 |
Earnings | $1,780,906 |
Other Expense | $1,590,443 |
Grants | $58,582 |
Ending Balance | $10,539,085 |
Organization Name | Assets | Revenue |
---|---|---|
Mitchell Wolfson Sr Foundation Miami, FL | $245,881,118 | $51,380,734 |
Sudco Inc & Affiliates Voluntary Empl Beneficiary Association Tr Jacksonville, FL | $1,629,809 | $12,527,671 |
Lucille S Beeson Charitable Remainder 66 1055001761 Birmingham, AL | $200,434,362 | $15,901,903 |
Walter R Ferguson Charitable Foundation Charitable Foundation Fort Lauderdale, FL | $0 | $613,063 |
Telford Foundation Inc Naples, FL | $77,208,801 | $5,161,589 |
Wanda And James M Moran Jr Foundation Inc Deerfield Beach, FL | $6,609,461 | $5,004,559 |
Yarim Foundation Boca Raton, FL | $1,467,226 | $2,520,229 |
Arnold & Winnie Palmer Foundation Inc Orlando, FL | $20,742,397 | $2,603,528 |
Mssa Ila Vacation Plan And Trust Mobile, AL | $2,494,985 | $3,007,833 |
W I H Pitts Charitable Tr Ua 110187 Orlando, FL | $39,439,716 | $4,048,727 |
Blake Family Foundation Inc Atlanta, GA | $54,641,915 | $13,537,530 |
St Marys United Methodist Church Foundation Inc Saint Marys, GA | $38,808,441 | $1,300,375 |