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← PALMS FOUNDATION OF SEBRING INC

Form 990 for tax year 2022

Filed by PALMS FOUNDATION OF SEBRING INC.

Totals

Total revenue
$33,421
Total expenses
$26,586
Contributions and grants received
$3,110
Grants paid
$14,000
Program service revenue
$0
Investment income
$30,311
Other revenue
$0
Total assets, end of year
$1,483,243
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,483,243
Program services expenses (Part IX)
$15,157
Management and general expenses
$11,429
Fundraising expenses
$0
Program service expenses (Part III)
$15,157

Program services were 57.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $1,500

  • 1f · All other contributions, gifts and grants

    $1,610

  • 3 · Investment income

    total $30,311 · excluded $30,311

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $14,000 · program services $14,000

  • 11c · Fees: accounting

    total $800 · management and general $800

  • 11f · Fees: investment management

    total $8,915 · management and general $8,915

  • 13 · Office expenses

    total $327 · management and general $327

  • 16 · Occupancy

    total $1,387 · management and general $1,387

  • 23 · Insurance

    total $1,157 · program services $1,157

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $34,718 · end of year $39,855

  • 11 · Investments: publicly traded securities

    beginning of year $1,753,011 · end of year $1,443,388

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,787,729 · end of year $1,483,243

Mission and programs · 2022

Mission

TO PROVIDE SUPPORT FOR THE BENEFIT OF BOTH INDIVIDUALS AND GROUPS AGE 60 OR OLDER FOR THE PURPOSE OF LIFE ENHANCEMENT

  • ENHANCE THE LIVES OF GROUPS AND INDIVIDUAL PEOPLE AGE 60 AND OLDER IN THE LOCAL COMMUNITY

    Expenses $15,157 · Grants $14,000

As filed on the 2022 return.

Listed in Part VII

  • Kathleen Cappo

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • April Cooper

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Paul Devlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Keiber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Barbara Kesselring

    ASSISTANT SE

    Total calculated
    $0
    Hours/week
    1

  • Paul Staik

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • Jerry Whidden

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Tom Wood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
21 January 2023
IRS schema version
2022v4.1
Source object
202340379349300884

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