Sheltering Palms Foundation Inc
- Assets
- $8.0m
- Revenue
- $259.9k
- Investments
- $1.5m
- Employees
- 2
- Location
- Boca Raton, FL
- Founding
- 01/1998
- Data as of
- 12/2023
- EIN
- 75-2715357
Organization Overview
Sheltering Palms Foundation Inc is located in Boca Raton, FL. The organization was established in 1998. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Sheltering Palms Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheltering Palms 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 12/2023, Sheltering Palms Foundation Inc generated $259.9k 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 (38.7%) each year. All expenses for the organization totaled $681.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Sheltering Palms Foundation Inc has awarded 28 individual grants totaling $941,975. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING TO LOW AND MODERATE INCOME PERSONS AND FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AND LEASED APARTMENT UNITS TO LOW AND MODERATE INCOME PERSONS AND FAMILIES AT APARTMENT COMPLEXES IN THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony J Flaim Director | OfficerTrustee | 20 | $224,167 |
Harvey J Polly President | OfficerTrustee | 16 | $191,666 |
Jeffrey Polly Director | Trustee | 1 | $0 |
Judith S Polly Director | Trustee | 1 | $0 |
Theresa Flaim Polly Director | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | -$92,020 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $351,881 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $259,861 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $67,619 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $415,833 |
| 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 | $13,860 |
| Payroll taxes | $32,866 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,930 |
| Fees for services: Accounting | $5,380 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $31,952 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $328 |
| Travel | $5,203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $45 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,015 |
| Insurance | $6,657 |
| All other expenses | $0 |
| Total functional expenses | $681,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,561 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $141 |
| Loans from Officers, Directors, or Controlling Persons | $26,351 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,680,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $847 |
| Investments—publicly traded securities | $2,063,569 |
| Investments—other securities | $1,474,329 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,579,471 |
| Total assets | $7,962,269 |
| Accounts payable and accrued expenses | $4,604 |
| 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 | $4,604 |
| Net assets without donor restrictions | $7,957,665 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $7,962,269 |
Grants Awarded
Over the last fiscal year, Sheltering Palms Foundation Inc has awarded $63,850 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PAPANICOLAOU CORPS FOR CANCER RESEA PURPOSE: GENERAL SUPPORT | $52,850 |
DESTINY WORSHIP CENTER INC PURPOSE: GENERAL SUPPORT | $11,000 |