Arnold & Winnie Palmer Foundation Inc
- Assets
- $24.8m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Orlando, FL
- Founding
- 09/2014
- Data as of
- 06/2022
- EIN
- 46-5468220
Organization Overview
Arnold & Winnie Palmer Foundation Inc is located in Orlando, FL. The organization was established in 2014. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Arnold & Winnie Palmer 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 06/2022, Arnold & Winnie Palmer Foundation Inc generated $8.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $2.5m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Arnold & Winnie Palmer Foundation Inc has awarded 25 individual grants totaling $6,704,360. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PROMOTE YOUTH CHARACTER DEVELOPMENT, CHILDREN'S HEALTH, ENVIRONMENTAL STEWARDSHIP AND WELL-BEING WHILE ALSO PRESERVING, ENHANCING AND PROMOTING THE LEGACY OF ARNOLD PALMER IN GOLF AND AMERICAN HISTORY AND SHARING IT WITH THE PUBLIC AS A PRACTICAL AND INSPIRATIONAL COMPONENT OF THE CHARITABLE AND EDUCATIONAL PILLARS OF THE FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES FINANCIAL SUPPORT TO INSTITUTIONS AND ORGANIZATIONS THAT PROMOTE YOUTH CHARACTER DEVELOPMENT, CHILDREN'S HEALTH, ENVIRONMENTAL STEWARDSHIP AND WELL-BEING WHILE ALSO PRESERVING, ENHANCING AND PROMOTING THE LEGACY OF ARNOLD PALMER IN GOLF AND AMERICAN HISTORY.
DURING FY21/22 THE ORGANIZATION HELD THE PALMER CUP IN SWITZERLAND AT THE GOLF CLUB DE GENEVE. THIS COLLEGIATE EVENT'S PURPOSE IS TO PROMOTE THE DEVELOPMENT OF YOUTH GOLFERS AND TO PASS ON MR. ARNOLD PALMER'S VALUES TO THE NEXT GENERATION OF GOLFERS. THE EVENT ROTATES BETWEEN DOMESTIC AND INTERNATIONAL LOCATIONS AND INCLUDES MEN AND WOMEN FROM AROUND THE WORLD PARTICIPATING IN A RYDER CUP-STYLE COMPETITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Saunders Director | Trustee | 1 | $0 |
David Barger Director | Trustee | 1 | $0 |
Mike Mccarley Director | Trustee | 1 | $0 |
Ken Boehner Board Chair | OfficerTrustee | 1 | $38,444 |
David Normoyle Director | Trustee | 1 | $0 |
Brian Battles Treasurer | Officer | 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 | $7,706,974 |
| Noncash contributions included in lines 1a–1f | $4,507,400 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,706,974 |
| Total Program Service Revenue | $0 |
| Investment income | $351,095 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $189,627 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,247,696 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $329,305 |
| 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. | $38,444 |
| Compensation of current officers, directors, key employees. | $38,444 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,299 |
| 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 | $44,999 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,819 |
| Fees for services: Other | $574,312 |
| Advertising and promotion | $0 |
| Office expenses | $39,351 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,992 |
| Travel | $19,738 |
| 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 | $59,343 |
| Insurance | $3,625 |
| All other expenses | $0 |
| Total functional expenses | $2,538,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,236,264 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,616,551 |
| Accounts receivable, net | $407,705 |
| 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 | $6,255 |
| Net Land, buildings, and equipment | $4,524,561 |
| Investments—publicly traded securities | $15,000,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,791,336 |
| Accounts payable and accrued expenses | $841,661 |
| 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 | $841,661 |
| Net assets without donor restrictions | $21,907,589 |
| Net assets with donor restrictions | $2,042,086 |
| 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 | $24,791,336 |
Grants Awarded
Over the last fiscal year, Arnold & Winnie Palmer Foundation Inc has awarded $329,305 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ARKANSAS STATE GOLF ASSOCIATION SCHOLARSHIP FUND PURPOSE: TO SUPPORT YOUTH DEVELOPMENT, 2021 ARNOLD PALMER SCHOLARSHIP | $10,000 |
FLORIDA CITRUS SPORTS EVENTS INC PURPOSE: TO SUPPORT LAKE LORNA DOONE NATURE ENHANCEMENTS | $200,000 |
IDEAS FOR US PURPOSE: TO SUPPORT NATURE FOCUSED WELLNESS, IDEAS NATURALIST PROGRAM | $10,500 |
SAINT VINCENT COLLEGE PURPOSE: TO SUPPORT NATURE FOCUSED WELLNESS, WINNIE PALMER NATURE RESERVE PROJECT YEAR 2 | $24,797 |
CLUBS HELP FOUNDATION INC PURPOSE: GOLF RELATED DONOR CAMPAIGN FOR DISASTER RECOVERY | $34,008 |
CANINE COMPANIONS PURPOSE: SUPPORT FOR FACILITY PROGRAM CANINE TO SERVE PATIENTS IN NEED AT ARNOLD PALMER HOSPITAL | $50,000 |