Bob And Leda Palmatter Foundation
- Assets
- $15.7m
- Revenue
- $3.2m
- Investments
- $15.5m
- Employees
- 0
- Location
- Spring Lake, MI
- Founding
- Data as of
- 12/2023
- EIN
- 81-4662111
Organization Overview
Bob And Leda Palmatter Foundation is located in Spring Lake, MI. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bob And Leda Palmatter 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 12/2023, Bob And Leda Palmatter Foundation generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.3% each year . All expenses for the organization totaled $543.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Bob And Leda Palmatter Foundation has awarded 20 individual grants totaling $1,393,500. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES DIRECT CASH CONTRIBUTIONS TO VARIOUS RELIGIOUS, CHARITABLE, AND EDUCATIONAL ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert R Palmatter Trustee | 1 | $0 | |
Leda Palmatter Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,438,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $733,424 |
| Net Rental Income | $0 |
| 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 | $3,171,424 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,089 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $7,729 |
| Contributions, gifts, grants paid | $535,900 |
| Total expenses and disbursements | $543,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,239 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $130,232 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $15,720,487 |
| 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, Bob And Leda Palmatter Foundation has awarded $535,900 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ADRA INTERNATIONAL PURPOSE: CHARITABLE/RELIGIOUS | $106,500 |
FIRST PRESBYTERIAN CHURCH PURPOSE: RELIGIOUS | $284,200 |
MOSAIC COUNSELING PURPOSE: CHARITABLE | $66,000 |
SAINT JOHN'S EPISCOPAL CHURCH PURPOSE: RELIGIOUS | $19,200 |
SEVENTH-DAY ADVENTIST CHURCH PURPOSE: RELIGIOUS | $60,000 |