Skip to content
Nonprofiteer
← PALMA SCHOOL FOUNDATION

Form 990 for tax year 2024

Filed by PALMA SCHOOL FOUNDATION.

Totals

Total revenue
$2,592,664
Total expenses
$2,253,611
Contributions and grants received
$2,466,231
Grants paid
$2,181,088
Program service revenue
$0
Investment income
$126,433
Other revenue
$0
Total assets, end of year
$2,832,129
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,832,129
Program services expenses (Part IX)
$2,181,789
Management and general expenses
$10,963
Fundraising expenses
$60,859
Program service expenses (Part III)
$2,181,789

Program services were 96.8% 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.

  • 1f · All other contributions, gifts and grants

    $2,466,231

  • 3 · Investment income

    total $126,433 · excluded $126,433

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,181,088 · program services $2,181,088

  • 11a · Fees: management

    total $55,947 · fundraising $55,947

  • 11b · Fees: legal

    total $525 · management and general $525

  • 11c · Fees: accounting

    total $1,950 · management and general $1,950

  • 12 · Advertising and promotion

    total $4,912 · fundraising $4,912

  • 24a · Other expenses: BANK FEES

    total $7,294 · management and general $7,294

  • 24b · Other expenses: OFFICE SUPPLIES

    total $1,194 · management and general $1,194

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $507 · program services $507

  • 24d · Other expenses: TAXES AND LICENSES

    total $100 · program services $100

  • 24e · All other expenses

    total $94 · program services $94

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,460,513 · end of year $2,794,100

  • 15 · Other assets

    beginning of year $26,358 · end of year $38,029

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,486,871 · end of year $2,832,129

Mission and programs · 2024

Mission

THE MISSION OF THE PALMA SCHOOL FOUNDATION IS TO FINANCIALLY SUPPORT THE EDUCATIONAL PROGRAMS AND MISSION OF PALMA SCHOOL FOR THE BENEFIT OF ITS STUDENTS AND COMMUNITY CONSISTENT WITH THE SCHOOLS MISSION TO PROVIDE YOUNG MEN AN EXCELLENT COLLEGE PREPARATIORY EDUCATION IN A ROMAN CATHOLIC ENVIRONMENT THAT EMBRACES THE ESSENTIAL ELEMENTS OF AN EDMUND RICE CHRISTIAN BROTHER EDUCATION AND CHALLENGES EACH INDIVIDUAL TO DEVELOP SPIRITUALLY, INTELLECTUALLY, MORALLY, PHYSICALLY, AND SOCIALLY.

Activities or mission (Part I)

THE MISSION OF THE PALMA SCHOOL FOUNDATION IS TO FINANCIALLY SUPPORT THE EDUCATIONAL PROGRAMS AND MISSION OF PALMA SCHOOL FOR THE BENEFIT OF ITS STUDENTS AND COMMUNITY.

  • PALMA SCHOOL SUBMITS GRANT APPLICATIONS FOR FUNDS FROM THE FOUNDATIONS FOR SPECIFIC PROGRAMS, THE TUITION ASSISTANCE FUND, FACILITIES AND OTHER USES. THE FOUNDATION BOARD MEETS TO REVIEW THE GRANT APPLICATION TO DETERMINE WHETHER THE FUNDS WILL BE USED CONSISTENT WITH THE SCHOOL'S BUDGET AND WITH THE FOUNDATION'S GRANTING GUIDELINES.

    Expenses $2,181,789 · Grants $2,181,088

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matthew Ottone

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • John Mazzei

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • John McCarthy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amy Haas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kim Costa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Clifton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gina Cochetti

    TREASURER

    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

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202523189349313527

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.