Palace Head Foundation Inc
- Assets
- $12.5m
- Revenue
- $434.0k
- Investments
- $12.4m
- Employees
- 0
- Location
- Chestnut Hill, MA
- Founding
- 01/2005
- Data as of
- 03/2024
- 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 03/2024, Palace Head Foundation Inc generated $434.0k 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 (11.0%) each year. All expenses for the organization totaled $911.8k during the year ending 03/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Palace Head Foundation Inc has awarded 360 individual grants totaling $5,341,891. 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 |
|---|---|---|---|
Joanne S Gill President/clerk | 1 | $0 | |
Thomas Gill Treasurer/director | 1 | $0 | |
Adam Forkner Director | 0 | $0 | |
Peter Forkner Director | 0 | $0 | |
Benjamin Forkner Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $310,367 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $85,477 |
| Capital Gain Net Income | $85,477 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $38,154 |
| Total Revenue | $433,998 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,878 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,596 |
| Total operating and administrative expenses | $162,292 |
| Contributions, gifts, grants paid | $749,500 |
| Total expenses and disbursements | $911,792 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $122,898 |
| 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 | $12,416,463 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,539,361 |
| 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 $749,500 in support to 62 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN PROMISE EDUCATION FUND PURPOSE: COMMUNITY AND CHARITY | $1,500 |
AMMONOOSUC CONSERVATION TRUST PURPOSE: COMMUNITY & CHARITABLE | $6,000 |
ANN NORTON SCULPTURE GARDENS PURPOSE: COMMUNITY AND CHARITY | $2,500 |
BEACON PROJECT PURPOSE: COMMUNITY & CHARITABLE | $1,000 |
BETHLEHEM TRAILS ASSOCIATION PURPOSE: COMMUNITY AND CHARITABLE | $5,000 |
BEAVER COUNTRY DAY SCHOOL PURPOSE: EDUCATION | $10,000 |