Melvin & Mary Palmer Charitable Tr
- Assets
- $1.8m
- Revenue
- $193.9k
- Investments
- $1.6m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 10/2006
- Data as of
- 02/2024
- EIN
- 20-6875950
Organization Overview
Melvin & Mary Palmer Charitable Tr is located in Chicago, IL. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Melvin & Mary Palmer Charitable Tr 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 02/2024, Melvin & Mary Palmer Charitable Tr generated $193.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $141.8k during the year ending 02/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Melvin & Mary Palmer Charitable Tr has awarded 30 individual grants totaling $531,360. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $62,541 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $130,560 |
| Capital Gain Net Income | $130,560 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $807 |
| Total Revenue | $193,908 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $27,926 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,423 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $29,349 |
| Contributions, gifts, grants paid | $112,486 |
| Total expenses and disbursements | $141,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,114 |
| 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 | $25,008 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,753,460 |
| 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, Melvin & Mary Palmer Charitable Tr has awarded $112,486 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF WISCONSIN FOUNDATION PURPOSE: PROGRAM SUPPORT | $12,497 |
FIRST CONGREGATIONAL CHURCH PURPOSE: PROGRAM SUPPORT | $2,497 |
BELOIT HEALTH SYSTEM FOUNDATION INC PURPOSE: PROGRAM SUPPORT | $31,249 |
STATELINE COMMUNITY FOUNDATION PURPOSE: PROGRAM SUPPORT | $22,497 |
UNITED WAY BLACKHAWK REGION PURPOSE: PROGRAM SUPPORT | $31,249 |
MAYO CLINIC PURPOSE: PROGRAM SUPPORT | $12,497 |