Sheltering Palms Foundation Inc
- Assets
- $10.6m
- Revenue
- $8.8m
- Investments
- $950.1k
- Employees
- 1
- Location
- Boca Raton, FL
- Founding
- 01/1998
- Data as of
- 12/2021
- EIN
- 75-2715357
Organization Overview
Sheltering Palms Foundation Inc is located in Boca Raton, FL. The organization was established in 1998. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheltering Palms 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 12/2021, Sheltering Palms Foundation Inc generated $8.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $4.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Sheltering Palms Foundation Inc has awarded 27 individual grants totaling $874,325. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING TO LOW AND MODERATE INCOME PERSONS AND FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AND LEASED APARTMENT UNITS TO LOW AND MODERATE INCOME PERSONS AND FAMILIES AT APARTMENT COMPLEXES IN THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Pellegrino Director | Trustee | 10 | $100,000 |
Theresa Flaim Polly Director | OfficerTrustee | 5 | $75,000 |
Harvey J Polly President | OfficerTrustee | 5 | $0 |
Jeffrey Polly Director | Trustee | 1 | $0 |
Judith S Polly Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,772,858 |
| Investment income | $45,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,928,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,762,156 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,875 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $175,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $131,082 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,570 |
| Payroll taxes | $74,092 |
| Fees for services: Management | $90,770 |
| Fees for services: Legal | $6,123 |
| Fees for services: Accounting | $8,458 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,063 |
| Office expenses | $210,090 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,581,396 |
| Travel | $12,062 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $463,610 |
| Insurance | $29,352 |
| All other expenses | $0 |
| Total functional expenses | $4,528,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,268,105 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $130,900 |
| Loans from Officers, Directors, or Controlling Persons | $26,351 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,680,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,877 |
| Investments—publicly traded securities | $4,298,738 |
| Investments—other securities | $950,147 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $260,375 |
| Total assets | $10,617,493 |
| Accounts payable and accrued expenses | $1,031 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,031 |
| Net assets without donor restrictions | $10,616,462 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,617,493 |
Grants Awarded
Over the last fiscal year, Sheltering Palms Foundation Inc has awarded $191,875 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Boca Raton, FL PURPOSE: GENERAL SUPPORT | $150,000 |
Independence, OH PURPOSE: GENERAL SUPPORT | $21,500 |
Boca Raton, FL PURPOSE: GENERAL SUPPORT | $10,375 |
West Palm Beach, FL PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Habitat For Humanity Of Collier County Inc Naples, FL | $122,499,137 | $30,188,706 |
I M Sulzbacher Center For The Homeless Inc Jacksonville, FL | $19,053,781 | $20,126,235 |
Housing Partnership Inc Riviera Beach, FL | $13,058,186 | $17,518,413 |
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Opa-Locka Community Development Corporation Inc Opa Locka, FL | $85,273,967 | $19,527,204 |
Orlando Neighborhood Improvement Corporation Inc Orlando, FL | $57,656,701 | $16,159,756 |
Habitat For Humanity International Inc Tampa, FL | $16,516,073 | $18,669,195 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |
Habitat For Humanity International Inc Jacksonville, FL | $26,227,920 | $12,923,898 |
Greater Birmingham Habitat For Humanity Inc Fairfield, AL | $36,123,846 | $9,151,776 |
American Opportunity Foundation Atlanta, GA | $34,585,201 | $5,667,158 |
Recovery Place Community Services Inc Savannah, GA | $2,985,458 | $7,587,530 |