Palmer Center Foundation Inc
- Assets
- $607.9k
- Revenue
- $44.1k
- Investments
- $554.9k
- Employees
- 0
- Location
- Kingsport, TN
- Founding
- 11/1991
- Data as of
- 06/2022
- EIN
- 58-1969597
Organization Overview
Palmer Center Foundation Inc is located in Kingsport, TN. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Palmer Center 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, Palmer Center Foundation Inc generated $44.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $41.2k during the year ending 06/2022. While expenses have increased by 0.4% 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, Palmer Center Foundation Inc has awarded 89 individual grants totaling $236,966. 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 |
|---|---|---|---|
Amy Doran President | 3 | $0 | |
Leanne Potente Treasurer | 1 | $0 | |
Jacki Wolfe Vice President | 3 | $0 | |
Brenda Whitten Member | 3 | $0 | |
Angie Vermilliom Member | 1 | $0 | |
Kristie Robinette Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $350 |
| Interest on Savings | $0 |
| Dividends & Interest | $20,061 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,685 |
| Capital Gain Net Income | $23,685 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $44,096 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $575 |
| Depreciation | $0 |
| Occupancy | $1,091 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,909 |
| Total operating and administrative expenses | $16,050 |
| Contributions, gifts, grants paid | $25,120 |
| Total expenses and disbursements | $41,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $58,385 |
| 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 | $554,903 |
| Net Land, buildings, and equipment | $0 |
| Other assets | -$5,354 |
| Total assets | $607,934 |
| Accounts payable and accrued expenses | $50 |
| 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 | $50 |
Grants Awarded
Over the last fiscal year, Palmer Center Foundation Inc has awarded $25,120 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Kingsport, TN PURPOSE: MULTISENSORY MUSICAL INSTRUMENTS | $4,255 |
SPARKLE SQUAD PURPOSE: UNIFORMS TEAM MATERIALS | $3,925 |
EMMETT ELEMENTARY SCHOOL PURPOSE: BOXLIGHT INTERACTIVE PRESENTATION BOARD | $3,500 |
CHEROKEE HIGH SCHOOL PURPOSE: FLEXIBLE SEATING FOR SPECIAL NEEDS | $3,160 |
MT CARMEL ELEMENTARY SCHOOL PURPOSE: MULTISENSORY MUSICAL INSTRUMENTS | $3,000 |
VOLUNTEER HIGH SCHOOL PURPOSE: UNIFORMS FOR UNIFIED TRACK PROGRAM | $1,630 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Anheuser-Busch Foundation Clayton, MO | $1,201,059 | $8,412,886 |
Carson-Myre Charitable Foundation Paducah, KY | $72,587,857 | $8,781,396 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Steward Family Foundation St Louis, MO | $23,736 | $8,567,873 |
Fraser-Parker Foundation Atlanta, GA | $226,420,772 | $14,099,479 |
Paces Foundation Inc Smyrna, GA | $85,397,872 | $9,603,919 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
The Ma-Ran Foundation Atlanta, GA | $81,838,064 | $4,938,726 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |