Palmer Home For Children
- Assets
- $31.8m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 74
- Location
- Lake Cormorant, MS
- Founding
- 07/1946
- Data as of
- 06/2022
- EIN
- 64-0334999
Organization Overview
Palmer Home For Children is located in Lake Cormorant, MS. The organization was established in 1946. According to its NTEE Classification (P73) the organization is classified as: Group Homes, under the broad grouping of Human Services and related organizations. As of 06/2023, Palmer Home For Children employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmer Home For Children 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 Home For Children generated $7.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $5.7m during the year ending 06/2022. 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
SUPPORT OF UNDERPRIVILEGED CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PALMER HOME FOR CHILDREN - PROVIDING HOUSING AND ASSISTANCE FOR HOMELESS AND NEGLECTED CHILDREN
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drake Bassett President | Officer | 40 | $196,386 |
Alan Walters Treasurer | OfficerTrustee | 1 | $0 |
Andrew Martin Board Member | Trustee | 1 | $0 |
Charles Guest Board Member | Trustee | 1 | $0 |
Daryl Guest Board Member | Trustee | 1 | $0 |
Dolph Bryan Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $698,561 |
| Related organizations | $0 |
| Government grants | $857,409 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,117,014 |
| Noncash contributions included in lines 1a–1f | $314,049 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,672,984 |
| Total Program Service Revenue | $0 |
| Investment income | $72,476 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,269 |
| Net Income from Fundraising Events | -$391,022 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $435,378 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,946,552 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $568,901 |
| Compensation of current officers, directors, key employees. | $111,347 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,870,010 |
| Pension plan accruals and contributions | $91,278 |
| Other employee benefits | $398,269 |
| Payroll taxes | $175,056 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,153 |
| Fees for services: Accounting | $138,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $139 |
| Fees for services: Other | $159,503 |
| Advertising and promotion | $82,034 |
| Office expenses | $356,555 |
| Information technology | $90,561 |
| Royalties | $0 |
| Occupancy | $320,405 |
| Travel | $395,385 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,615 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $333,566 |
| Insurance | $178,571 |
| All other expenses | $499,728 |
| Total functional expenses | $5,683,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,581,393 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $916,930 |
| 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 | $14,737 |
| Net Land, buildings, and equipment | $14,020,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,258,149 |
| Intangible assets | $0 |
| Other assets | $2,005,019 |
| Total assets | $31,796,879 |
| Accounts payable and accrued expenses | $133,682 |
| 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 | $241,165 |
| Total liabilities | $374,847 |
| Net assets without donor restrictions | $20,594,291 |
| Net assets with donor restrictions | $10,827,741 |
| 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 | $31,796,879 |