$175K paid to officers and key staff.
Pay: Part VII

Before you give

FY2024 · Form 990-PFIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990-PF
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $135K a year · 122% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
990-PF Pt I · 5 filings
Pay to officers and key staff
$175K
to officers and key staff · 62% of spending
Concern: pay to officers and key staff is 62% of spending; over 30%.
990-PF Pt VIII
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
990-PF Pt II
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$135K
+149% vs prior year
Spent
$284K
Net assets
$962K
By yearFY2020–FY2024
Revenue
$135K
FY2024▲ +149%
Tap a bar for its year
Revenue by fiscal year
FY2020$76K
FY2021$190K
FY2022$96K
FY2023$54K
FY2024$135K
Expenses
$284K
FY2024▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$231K
FY2021$204K
FY2022$287K
FY2023$221K
FY2024$284K
Net assets
$962K
FY2024▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.5M
FY2022$1.3M
FY2023$1.1M
FY2024$962K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Grants & contributions paid 34% · $98K Operating & administrative 66% · $186K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990-PF; $175K paid to officers and key staff.

Part VII, Section A · reportable compensation
$125,000Pt VII · Sec A
Co-Trustee
$25,000Pt VII · Sec A
Co-Trustee
$25,000Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2021
Frederick J Steffen$125,000$100,000$100,000
Robert Steffen$25,000—$25,000
Donald Hopp$25,000$25,000$25,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Florence B & Cornelia a Palmer Foundation executive salaries →

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Programs and updates

A private foundation based in Elgin, IL.

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Provided by the organization

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Grants and how to apply

Who it funds, and how to ask.

Who They Fund

Part XV · grants paid · 11 grants · $98K · 2024–2024
Individual RecipientFY2024$16,000
Individual RecipientFY2024$16,000
Children's Theatre Company of ElginFY2024$14,000
Individual RecipientFY2024$13,500
Chamber Music on the Fox INCIL · FY2024$11,000
Individual RecipientFY2024$10,000
Ecc FoundationTX · FY2024$6,000
Multicultural Education GroupFY2024$5,000
Studio 10 NfpIL · FY2024$3,000
First Congregational ChurchFY2024$1,500
U46 Educational FoundationFY2024$1,500

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV3
Average grantPart XV$9K
Median grantPart XV$10K
Largest grantPart XV$16K
Top cause focusNTEEArts & Culture (27%)

By the numbers

The FY2024 990-PF, line by line.

1The main four
Money in
$135K
Investment income$135K
Other income$75
Money out
$284K
Grants paid$98K
Running costs$186K
Owns and owes
$962K
net assets
Cash and savings$14K
Total assets$962K
Liabilities$0
People
3
listed
Paid3
2In more detail
Revenue in detail
Investment income$135K
Other income$75
Total revenue$135K
Assets in detailEnd of year
Cash and savings together$14K
Total assets$962K
Liabilities$0
Net assets$962K
Operations
Fiscal year endsDecember

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $135K$284K−$149K$962K 990 PDF
FY2023 $54K$221K−$167K$1.1M 990 PDF
FY2022 $96K$287K−$191K$1.3M 990 PDF
FY2021 $190K$204K−$13K$1.5M 990 PDF
FY2020 $76K$231K−$155K$1.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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