Irving And Ethel Palman Foundation
- Assets
- $4.1m
- Revenue
- $209.3k
- Investments
- $4.1m
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 04/1999
- Data as of
- 12/2021
- EIN
- 38-3452975
Organization Overview
Irving And Ethel Palman Foundation is located in Bloomfield Hills, MI. The organization was established in 1999. 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. Irving And Ethel Palman 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, Irving And Ethel Palman Foundation generated $209.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $258.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Irving And Ethel Palman Foundation has awarded 185 individual grants totaling $1,085,445. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan D Lowe President, Trustee | 3 | $31,617 | |
Beth Denenberg Lowe MD Trustee | 0.3 | $7,500 | |
Aaron H Lowe Secretary, Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,175 |
| Dividends & Interest | $42,399 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $164,750 |
| Capital Gain Net Income | $164,750 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $209,324 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $39,117 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,013 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $48,354 |
| Total operating and administrative expenses | $91,584 |
| Contributions, gifts, grants paid | $166,380 |
| Total expenses and disbursements | $257,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $810 |
| Savings and temporary cash investments | $54,528 |
| 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 | $4,086,210 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,141,548 |
| 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, Irving And Ethel Palman Foundation has awarded $166,380 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
JEWISH FEDERATION OF METRO DETROIT PURPOSE: CHARITABLE GRANT TO QUALIFIED CHARITY | $15,500 |
UNIVERSITY OF DETROIT MERCY SCHOOL OF LAW PURPOSE: CHARITABLE GRANT TO QUALIFIED CHARITY | $15,160 |
West Bloomfield, MI PURPOSE: CHARITABLE GRANT TO QUALIFIED CHARITY | $15,000 |
Southfield, MI PURPOSE: CHARITABLE GRANT TO QUALIFIED CHARITY | $12,500 |
MSU HILLEL STUDENT CENTER PURPOSE: CHARITABLE GRANT TO QUALIFIED CHARITY | $12,000 |
FARBER HEBREW DAY SCHOOL PURPOSE: CHARITABLE GRANT TO QUALIFIED CHARITY | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
Anthem Foundation Inc Indianapolis, IN | $153,394,091 | $25,472,782 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $792,865,434 | $81,802,743 |
Wilson Sheehan Foundation Springfield, OH | $57,339,515 | $15,119,930 |