Palette Fund Inc
- Assets
- $13.3m
- Revenue
- $693.0k
- Investments
- $11.7m
- Employees
- 0
- Location
- Provincetown, MA
- Founding
- 09/2008
- Data as of
- 12/2021
- EIN
- 26-2736653
Organization Overview
Palette Fund Inc is located in Provincetown, MA. The organization was established in 2008. 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. Palette Fund 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 12/2021, Palette Fund Inc generated $693.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Palette Fund Inc has awarded 386 individual grants totaling $10,360,652. 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 |
|---|---|---|---|
Terrence Meck President | 40 | $125,000 | |
Peter Benassi Chair | 1 | $0 | |
Kristin Resnansky Secretary & Treasurer | 1 | $0 | |
Todd Sears Director | 1 | $0 | |
Blaire Milanese Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/18 | $79,112 |
Vaid Group | 12/30/18 | $51,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,470 |
| Interest on Savings | $0 |
| Dividends & Interest | $187,182 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $221,351 |
| Capital Gain Net Income | $221,351 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $281,974 |
| Total Revenue | $692,977 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $125,000 |
| Other employee salaries and wages | $22,500 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,813 |
| Depreciation | $46,899 |
| Occupancy | $16,730 |
| Travel, conferences, and meetings | $170,522 |
| Printing and publications | $0 |
| Other expenses | $156,310 |
| Total operating and administrative expenses | $608,692 |
| Contributions, gifts, grants paid | $678,407 |
| Total expenses and disbursements | $1,287,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,764 |
| Savings and temporary cash investments | $440,895 |
| 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 | $177 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,291,796 |
| Net Land, buildings, and equipment | $1,093,789 |
| Other assets | $0 |
| Total assets | $13,295,370 |
| Accounts payable and accrued expenses | $105,306 |
| Grants payable | $515,100 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $160,000 |
| Total liabilities | $780,406 |
Grants Awarded
Over the last fiscal year, Palette Fund Inc has awarded $678,407 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
PANCAN PURPOSE: GRANT | $150,000 |
WORLD OF WONDER PURPOSE: GRANT | $100,000 |
GOD'S LOVE WE DELIVER-CONT PURPOSE: GRANT | $100,000 |
Provincetown, MA PURPOSE: GRANT | $51,500 |
VICTORY FUND PURPOSE: GRANT | $51,000 |
MAP PURPOSE: GRANT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |
Theodore J Forstmann Charitable Trust New York, NY | $79,816,371 | $674,210 |
The Carol A Ammon Foundation Albany, NY | $10,088,469 | $6,097,174 |