Palms Foundation Of Sebring Inc
- Assets
- $1.5m
- Revenue
- $33.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Sebring, FL
- Founding
- 05/1991
- Data as of
- 12/2022
- EIN
- 59-3032441
Organization Overview
Palms Foundation Of Sebring Inc is located in Sebring, FL. The organization was established in 1991. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palms Foundation Of Sebring 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 12/2022, Palms Foundation Of Sebring Inc generated $33.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $26.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE BENEFIT OF BOTH INDIVIDUALS AND GROUPS AGE 60 OR OLDER FOR THE PURPOSE OF LIFE ENHANCEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCE THE LIVES OF GROUPS AND INDIVIDUAL PEOPLE AGE 60 AND OLDER IN THE LOCAL COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Cappo Secretary | OfficerTrustee | 2 | $0 |
April Cooper Treasurer | OfficerTrustee | 2 | $0 |
Paul Staik Chairperson | OfficerTrustee | 2 | $0 |
Barbara Kesselring Assistant Se | OfficerTrustee | 1 | $0 |
| OfficerTrustee | 2 | $0 | |
Paul Devlin Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,610 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,110 |
| Total Program Service Revenue | $0 |
| Investment income | $30,311 |
| 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 | $33,421 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,000 |
| 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 | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,915 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $327 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,387 |
| 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 | $1,157 |
| All other expenses | $0 |
| Total functional expenses | $26,586 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,855 |
| 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 | $1,443,388 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,483,243 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $1,483,243 |
| Total liabilities and net assets/fund balances | $1,483,243 |
Grants Awarded
Over the last fiscal year, Palms Foundation Of Sebring Inc has awarded $14,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MEALS ON WHEELS SEBRING | | | $7,500 |
Avon Park, FL | | $6,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sunnyside Properties Of Sarasota Inc Sarasota, FL | $68,013,446 | $10,977,854 |
Moorings Park Community Health Incorporated Naples, FL | $1,266,538 | $9,547,257 |
Moorings Park Institute Incorporated Naples, FL | $917,438 | $9,024,675 |
Westminster Senior Services Inc Orlando, FL | $3,758,693 | $8,872,607 |
Church Home Rehabilitation And Healthcare Llc Perry, GA | $11,785,809 | $8,119,276 |
Aldersgate Retirement Inc Hialeah, FL | $3,351,583 | $6,541,744 |
The Centurion Foundation Inc Atlanta, GA | $193,227,829 | $5,759,227 |
Decatur Church Of Christ Senior Housing Inc Decatur, GA | $17,263,297 | $4,161,433 |
Quality Senior Housing Foundaton Inc Atlanta, GA | $15,962,385 | $3,890,508 |
Wesley Woods Senior Living Inc Atlanta, GA | $6,214,370 | $5,013,917 |
St Annes Terrace Inc Atlanta, GA | $7,448,886 | $4,867,910 |
Fannie E Taylor Home For The Aged Taylor Manor Inc Jacksonville, FL | $2,539,639 | $3,737,309 |