Palace Head Foundation Inc
- Assets
- $13.4m
- Revenue
- $423.9k
- Investments
- $13.4m
- Employees
- 0
- Location
- Chestnut Hill, MA
- Founding
- 01/2005
- Data as of
- 03/2022
- EIN
- 20-1740632
Organization Overview
Palace Head Foundation Inc is located in Chestnut Hill, MA. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palace Head 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 03/2022, Palace Head Foundation Inc generated $423.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $995.4k during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Palace Head Foundation Inc has awarded 247 individual grants totaling $3,726,285. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Forkner Director | 0 | $0 | |
Joanne S Gill President/clerk | 1 | $0 | |
Peter Forkner Director | 0 | $0 | |
Thomas Gill Treasurer/director | 1 | $0 | |
Benjamin Forkner Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $198,892 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $202,971 |
| Capital Gain Net Income | $202,971 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $22,081 |
| Total Revenue | $423,944 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,462 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $133,123 |
| Total operating and administrative expenses | $282,226 |
| Contributions, gifts, grants paid | $713,196 |
| Total expenses and disbursements | $995,422 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,041 |
| Savings and temporary cash investments | $0 |
| 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 | $13,406,658 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $13,436,699 |
| 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, Palace Head Foundation Inc has awarded $713,196 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: COMMUNITY & CHARITABLE | $400,000 |
HARVARD COLLEGE FUND PURPOSE: EDUCATIONAL | $50,000 |
Palm Beach, FL PURPOSE: ARTS | $35,000 |
ESPLANADE ASSOCIATION PURPOSE: COMMUNITY & CHARITABLE | $24,000 |
PARK SCHOOL PURPOSE: EDUCATIONAL | $20,000 |
New York, NY PURPOSE: ARTS | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Steven & Alexandra Cohen Foundation Inc Stamford, CT | $524,605,658 | $98,007,018 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |
Paul E Singer Foundation New York, NY | $412,018,579 | $19,273,091 |
Bernard And Anne Spitzer Charitable Tr New York, NY | $0 | $17,565,686 |