Palm Healthcare Foundation Inc
- Assets
- $83.8m
- Revenue
- $10.3m
- Investments
- $0.0
- Employees
- 13
- Location
- West Palm Beach, FL
- Founding
- 09/1984
- Data as of
- 06/2022
- EIN
- 59-2391119
Organization Overview
Palm Healthcare Foundation Inc is located in West Palm Beach, FL. The organization was established in 1984. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2022, Palm Healthcare Foundation Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palm Healthcare 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, Palm Healthcare Foundation Inc generated $10.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $4.9m during the year ending 06/2022. While expenses have increased by 0.8% 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 2015, Palm Healthcare Foundation Inc has awarded 230 individual grants totaling $19,262,643. 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 FOUNDATION INSPIRES AND FUNDS SOLUTIONS FOR BETTER HEALTH THROUGH COMMUNITY COLLABORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S HEALTHIER TOGETHER INITIATIVES DEVELOP NEW NETWORKS TO ADDRESS THE SOCIAL DETERMINANTS OF HEALTH IN NEIGHBORHOODS AND NARROW HEALTH DISPARITIES. ITS COMMUNITY HEALTH CAMPAIGNS PROVIDE RESIDENTS WITH EDUCATION AND ACTIVITIES TO HELP THEM ADOPT HEALTHY LIFESTYLES. ITS BRAIN HEALTH WORK SUPPORTS INNOVATION TO IMPROVE THE BEHAVIORAL HEALTH SYSTEM OF CARE FOR CHILDREN AND FAMILIES. SCHOLARSHIPS FOR HEALTH PROFESSIONALS SUPPORT QUALITY OF CARE AND INNOVATION IN CARE DELIVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick J Mcnamara President & CEO | Officer | 40 | $250,371 |
Abigail Goodwin Vice Pres.-Grants & Comm. | Officer | 40 | $135,098 |
Dr Alina Alonso Immediate Past Chair | OfficerTrustee | 2 | $0 |
Greg Quattlebaum Secretary | OfficerTrustee | 2 | $0 |
Denise Bober Chair | OfficerTrustee | 2 | $0 |
Dave Wisehaupt Vice Chair & Treasurer | OfficerTrustee | 1 | $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 | $1,175,285 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,175,285 |
| Total Program Service Revenue | $124,570 |
| Investment income | $2,415,589 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$395,992 |
| Net Gain/Loss on Asset Sales | $6,994,562 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,314,014 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,038,938 |
| 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. | $475,772 |
| Compensation of current officers, directors, key employees. | $122,179 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $721,731 |
| Pension plan accruals and contributions | $55,291 |
| Other employee benefits | $89,507 |
| Payroll taxes | $79,496 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $488,007 |
| Fees for services: Other | $167,051 |
| Advertising and promotion | $267,225 |
| Office expenses | $33,080 |
| Information technology | $92,834 |
| Royalties | $0 |
| Occupancy | $135,726 |
| Travel | $12,935 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,765 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,861 |
| Insurance | $23,615 |
| All other expenses | $611 |
| Total functional expenses | $4,895,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $966,610 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,459 |
| 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 | $4,133 |
| Net Land, buildings, and equipment | $5,246,414 |
| Investments—publicly traded securities | $74,846,179 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,752,596 |
| Total assets | $83,819,891 |
| Accounts payable and accrued expenses | $167,175 |
| Grants payable | $600,000 |
| 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 | $46,381 |
| Total liabilities | $813,556 |
| Net assets without donor restrictions | $60,619,631 |
| Net assets with donor restrictions | $22,386,704 |
| 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 | $83,819,891 |
Grants Awarded
Over the last fiscal year, Palm Healthcare Foundation Inc has awarded $2,008,938 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
Boca Raton, FL PURPOSE: Nursing Scholarship | $404,444 |
Riviera Beach, FL PURPOSE: Culture of Health Network - Healthier Lake Worth Beach | $398,300 |
Boynton Beach, FL PURPOSE: Culture of Health Network - Healthier Boynton Beach Year 7 | $184,900 |
West Palm Beach, FL PURPOSE: Mental Health First Aid | $132,128 |
Delray Beach, FL PURPOSE: Culture of Health Network - Healthier Delray Beach Year 8 | $131,650 |
West Palm Beach, FL PURPOSE: Volunteer Nurse Corp | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Palm Healthcare Foundation Inc has recieved totaling $465,440.
| Awarding Organization | Amount |
|---|---|
Debra K Howe Charitable Tr 04042018 Palm Beach Gardens, FL PURPOSE: SCHOLARSHIPS TO NURSING STUDENTS | $237,711 |
A B Lane Charitable Trust Las Vegas, NV PURPOSE: GENERAL OPERATING PURPOSES | $53,333 |
United Way Of Palm Beach County Inc West Palm Beach, FL PURPOSE: Allocations to Agencies | $35,000 |
Lost Tree Village Charitable Foundation Inc North Palm Beach, FL PURPOSE: A funders collaborative to match the Robert Wood Johnson Foundation Prize that honors and elevates communities at the forefront of advancing health, opportunity, and equity. | $25,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 79219 COMMUNICATIONS SUPPORT FOR 2022 RWJF CULTURE | $25,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 79303 2020-2021 RWJF CULTURE OF HEALTH PRIZE | $25,000 |
Endowment Analysis
| Beg. Balance | $92,518,707 |
| Earnings | -$13,535,122 |
| Admin Expense | $488,007 |
| Other Expense | $3,649,399 |
| Ending Balance | $74,846,179 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Healthcare System Inc Warner Robins, GA | $2,831,389 | $10,479,781 |
Montgomery Baptist Outreach Services Corporation Montgomery, AL | $20,272,262 | $12,064,663 |
West Florida Health Home Care Inc Temple Terrace, FL | $9,306,071 | $17,546,584 |
West Georgia Health Foundation Inc Marietta, GA | $8,141,093 | $4,609,093 |
Mount Sinai Medical Center Foundation Inc Miami Beach, FL | $381,873,831 | $56,255,268 |
Baptist Health System Foundation Inc Jacksonville, FL | $315,907,780 | $49,455,199 |
Harry-Anna Investment Fund Inc Umatilla, FL | $366,026,272 | $19,311,670 |
Morton Plant Mease Health Care Foundation Inc Clearwater, FL | $126,171,724 | $8,632,525 |
Ufcw & Employers Health & Welfare T Rust Fund Pembroke Pines, FL | $22,540,829 | $18,806,803 |
Lakeland Regional Medical Center Foundation Inc Lakeland, FL | $42,454,148 | $10,633,675 |
Alabama Childrens Hospital Foundation Birmingham, AL | $1,336,728,368 | $67,689,862 |
Plumbers & Pipefitters Local 421 Health & Welfare Fund Pembroke Pines, FL | $21,305,656 | $12,681,000 |