Michael Palm Foundation
- Assets
- $1.3m
- Revenue
- $37.1k
- Investments
- $1.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/1995
- Data as of
- 12/2023
- EIN
- 13-3745516
Organization Overview
Michael Palm Foundation is located in New York, NY. The organization was established in 1995. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael Palm Foundation 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, Michael Palm Foundation generated $37.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $58.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Michael Palm Foundation has awarded 27 individual grants totaling $231,200. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer A Jamula Director/secretary | 2 | $0 | |
Brad M Jamula Director/treasurer | 2 | $0 | |
M Melissa Jamula Pres/chairperson | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $28,349 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,787 |
| Capital Gain Net Income | $8,787 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $37,136 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $812 |
| Total operating and administrative expenses | $16,218 |
| Contributions, gifts, grants paid | $42,500 |
| Total expenses and disbursements | $58,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,288 |
| 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 | $1,241,776 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,251,064 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Michael Palm Foundation has awarded $42,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
GOOGLE WORKS CENTER FOR THE ARTS PURPOSE: CHARITABLE | $2,500 |
MICHAEL PALM THEATRE PURPOSE: CHARITABLE | $10,000 |
SOUTHERN DOCUMENTARY FUND PURPOSE: CHARITABLE | $5,000 |
PRIDE AT JEFFERSON CENTER PURPOSE: CHARITABLE | $10,000 |
READING EDUCATION FOUNDATION PURPOSE: CHARITABLE | $10,000 |
ST ANN'S WAREHOUSE INC PURPOSE: CHARITABLE | $5,000 |