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Nonprofiteer
← PALM HEALTHCARE FOUNDATION INC

Form 990 for tax year 2024

Filed by PALM HEALTHCARE FOUNDATION INC.

Totals

Total revenue
$9,779,641
Total expenses
$5,949,342
Contributions and grants received
$2,093,278
Grants paid
$2,790,422
Program service revenue
$14,168
Investment income
$7,968,750
Other revenue
-$296,555
Total assets, end of year
$94,979,982
Total liabilities, end of year
$648,833
Net assets or fund balances, end of year
$94,331,149
Program services expenses (Part IX)
$4,976,091
Management and general expenses
$615,020
Fundraising expenses
$358,231
Program service expenses (Part III)
$4,976,091

Program services were 83.6% 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.

  • 1e · Government grants (contributions)

    $224,000

  • 1f · All other contributions, gifts and grants

    $1,869,278

  • 1g · Noncash contributions included above

    $60,150

  • 2a · Program service revenue: Program Revenue

    total $14,168 · related or exempt $14,168

  • 3 · Investment income

    total $1,904,676 · excluded $1,904,676

  • 6a · Gross rents

    real property $343,023

  • 6b · Less rental expenses

    real property $639,578

  • 6c · Rental income or loss

    real property -$296,555

  • 6d · Net rental income or loss

    total -$296,555 · excluded -$296,555

  • 7a · Gross sales of assets other than inventory

    securities $96,622,962

  • 7b · Less cost or other basis and sales expenses

    securities $90,558,888

  • 7c · Gain or loss

    securities $6,064,074

  • 7d · Net gain or loss

    total $6,064,074 · excluded $6,064,074

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,790,422 · program services $2,790,422

  • 5 · Compensation of officers, directors and key employees

    total $551,502 · program services $323,143 · management and general $142,231 · fundraising $86,128

  • 7 · Other salaries and wages

    total $944,800 · program services $553,252 · management and general $243,030 · fundraising $148,518

  • 8 · Pension plan contributions

    total $47,173 · program services $28,162 · management and general $13,143 · fundraising $5,868

  • 9 · Other employee benefits

    total $164,245 · program services $98,791 · management and general $47,143 · fundraising $18,311

  • 10 · Payroll taxes

    total $98,162 · program services $59,075 · management and general $24,392 · fundraising $14,695

  • 11b · Fees: legal

    total $5,667 · management and general $5,667

  • 11c · Fees: accounting

    total $40,700 · management and general $40,700

  • 11f · Fees: investment management

    total $337,096 · program services $287,717 · management and general $49,379

  • 11g · Fees: other

    total $185,203 · program services $184,814 · management and general $389

  • 12 · Advertising and promotion

    total $291,435 · program services $290,954 · management and general $481

  • 13 · Office expenses

    total $27,572 · program services $7,785 · management and general $13,243 · fundraising $6,544

  • 14 · Information technology

    total $129,455 · program services $38,215 · management and general $83,841 · fundraising $7,399

  • 16 · Occupancy

    total $144,370 · program services $2,700 · management and general $139,924 · fundraising $1,746

  • 17 · Travel

    total $19,580 · program services $10,321 · management and general $398 · fundraising $8,861

  • 19 · Conferences, conventions and meetings

    total $108,849 · program services $80,876 · management and general $1,537 · fundraising $26,436

  • 22 · Depreciation, depletion and amortization

    total $14,444 · management and general $14,444

  • 23 · Insurance

    total $22,580 · management and general $22,580

  • 24a · Other expenses: Training & Education

    total $13,119 · program services $9,477 · management and general $496 · fundraising $3,146

  • 24b · Other expenses: Donor Recognition

    total $5,917 · program services $1,499 · management and general $16 · fundraising $4,402

  • 24c · Other expenses: Repairs & Maintenance

    total $4,221 · program services $1,246 · management and general $2,734 · fundraising $241

  • 24d · Other expenses: Volunteer & Employee Re

    total $1,813 · program services $150 · management and general $1,663

  • 24e · All other expenses

    total $1,017 · program services $207,492 · management and general -$232,411 · fundraising $25,936

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $500 · end of year $500

  • 2 · Savings and temporary cash investments

    beginning of year $625,770 · end of year $631,673

  • 4 · Accounts receivable

    end of year $2,134

  • 9 · Prepaid expenses and deferred charges

    beginning of year $104,652 · end of year $8,143

  • 10a · Land, buildings and equipment: cost or other basis

    $10,149,726

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,691,015

  • 10c · Land, buildings and equipment, net

    beginning of year $4,648,202 · end of year $4,458,711

  • 11 · Investments: publicly traded securities

    beginning of year $81,317,525 · end of year $86,342,494

  • 15 · Other assets

    beginning of year $3,354,423 · end of year $3,536,327

  • 17 · Accounts payable and accrued expenses

    beginning of year $154,649 · end of year $240,875

  • 18 · Grants payable

    beginning of year $200,000

  • 25 · Other liabilities

    beginning of year $355,486 · end of year $407,958

  • 27 · Net assets without donor restrictions

    beginning of year $64,686,786 · end of year $67,703,000

  • 28 · Net assets with donor restrictions

    beginning of year $24,654,151 · end of year $26,628,149

Mission and programs · 2024

Mission

Palm Health Foundation invests in bold, community-led solutions that improve health and well-being in Palm Beach County. (Continued on Schedule O)Established in 2001 from the sale of Good Samaritan and St. Mary's hospitals, the Foundation partners with residents, donors, and professional advisors to advance brain health, strengthen the healthcare workforce, and build thriving, resilient communities.Through strategic investments and partnerships, we address the social and environmental conditions that shape health and create opportunities for all residents to reach their full health potential.Through scholarships, capacity building, and systems-focused philanthropy, Palm Health Foundation drives innovation and lasting change.

Activities or mission (Part I)

The Foundation invests in solutions that strengthen health and resilience across PB County.

  • Palm Health Foundation deepened its investment in brain health innovation, community-led health solutions, and workforce development during FY2025.Through initiatives such as the Brain Coast Network and the Center for the Resilient Mind, the Foundation advanced research, education, and NeuroArts programming that strengthen mental well-being and cognitive resilience.The Foundation continued to build community resilience through Healthier Together, empowering local changemakers to address behavioral health, caregiving, (Continued on Schedule O)and the social and economic factors that influence health.To strengthen the health professions, Palm Health Foundation provided scholarships and workforce development support in nursing and behavioral health ensuring a skilled, compassionate pipeline for the region's future health needs.As the fiscal agent for BeWellPBC, the Foundation demonstrates its role as a convener of cross-sector partners, leveraging philanthropy to align systems, drive measurable impact, and promote a shared vision for brain health and community well-being.Key FY2025 investments included $1 million in Florida Atlantic University's (FAU) computational neuroscience program and commitment to launch FAU's Center for Resilient Mind.

    Expenses $4,976,091 · Grants $2,790,422 · Revenue $14,168

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

Listed in Part VII

  • Dr Marsha Fishbane MD

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Christine Koehn PhD

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Nathan Nason Esq

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Frances Fisher

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Jyothi Gunta MD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lisa Wiese PhD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Andrea Stephenson-Royster MBA M

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ellen Andel

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mark Elhilow CPA PFS

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Clarence Williams JD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Barbara James MBA

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Stephen Zaloom Esq

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Naelys Luna PhD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Clovis Moodie

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Julie Fisher Cummings

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Abigail Goodwin

    Exec VP

    Total calculated
    $195,534
    From this org
    $156,466
    From related orgs
    $0
    Other
    $39,068
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,466
    Bonus
    $0
    Other
    $0
    Deferred
    $8,400
    Nontaxable benefits
    $30,668
    Filer's total
    $195,534

  • Patrick J McNamara LCSW

    President & CEO

    Total calculated
    $359,604
    From this org
    $319,979
    From related orgs
    $0
    Other
    $39,625
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $319,979
    Bonus
    $0
    Other
    $0
    Deferred
    $8,400
    Nontaxable benefits
    $31,225
    Filer's total
    $359,604

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 5205 Building LLC

    Commercial Rental Property & Programmatic Rent Concessions · FL · income -$284,599 · assets $4,809,825

    Directly controlled by Palm Healthcare Foundation Inc

Provenance

Return type
form_990
Tax year
2024
Filed
4 December 2025
IRS schema version
2024v5.2
Source object
202503449349301405

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