Tom & Shirley Palmer Family Foundation
- Assets
- $269.3k
- Revenue
- $56.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Johnson City, TN
- Founding
- 05/2008
- Data as of
- 12/2021
- EIN
- 20-4079745
Organization Overview
Tom & Shirley Palmer Family Foundation is located in Johnson City, TN. The organization was established in 2008. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Tom & Shirley Palmer Family 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 12/2021, Tom & Shirley Palmer Family Foundation generated $56.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $36.4k during the year ending 12/2021. While expenses have increased by 3.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Tom & Shirley Palmer Family Foundation has awarded 25 individual grants totaling $122,374. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $55 |
| Dividends & Interest | $0 |
| Net Rental Income | $56,150 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $56,205 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,188 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $575 |
| Total operating and administrative expenses | $3,153 |
| Contributions, gifts, grants paid | $33,200 |
| Total expenses and disbursements | $36,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $22,606 |
| 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 | $0 |
| Net Land, buildings, and equipment | $246,729 |
| Other assets | $0 |
| Total assets | $269,335 |
| 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, Tom & Shirley Palmer Family Foundation has awarded $33,200 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
DOE RIVER GORGE MINISTRIES PURPOSE: CHILDREN MINISTRY | $17,200 |
Johnson City, TN PURPOSE: CHURCH | $5,000 |
FAIRVIEW COMMUNITY CENTER PURPOSE: COMMUNITY OUTREACH | $5,000 |
SUMMIT LEADERSHIP FOUNDATION PURPOSE: CHARITABLE PLANNING | $2,500 |
RISE UP PURPOSE: CHARITABLE | $2,500 |
Jefferson City, TN PURPOSE: CHARITABLE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wnc Bridge Foundation Asheville, NC | $146,559,840 | $12,380,465 |
William R Orthwein Jr And Laura Rand Orthwein Foundation Inc St Louis, MO | $73,594,056 | $14,006,042 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
The Savannah Community Foundation Inc Savannah, GA | $54,173,792 | $9,998,384 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
The Giving Kitchen Initiative Inc Atlanta, GA | $5,202,127 | $3,829,430 |
Kermit G Phillips Ii Charitable Tr Greensboro, NC | $71,515,607 | $5,235,464 |
Troon Foundation Elon, NC | $48,656,909 | $2,507,639 |
Royals Charities Inc Kansas City, MO | $948,636 | $2,777,032 |
Glass Family Foundation Inc Asheville, NC | $24,447,807 | $3,179,935 |
Speedway Childrens Charities Concord, NC | $415,792 | $1,752,353 |