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Palaemon INC

Tax-deductible

Barnstable, MA501(c)(3)Housing EIN 36-4638098Revenue $494K in FY2024

On file with the IRSpalaemonhouse.org3660 Main St, 02630-1732 · Barnstable, MATax-exempt since Aug 2010Publicly supported — 509(a)(2)

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To empower young adults with developmental learning disabilities towards an independent lifestyle by providing a group home with a stable environment within which to develope the skills needed to accomplish their independence.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$186K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: 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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $139K a year · 20% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$186K
to officers and key staff · 32% of spending
Top officer’s pay higher than 81% of similar orgs
Concern: pay to officers and key staff is 32% of spending; over 30%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $73
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
54% of total assets
Fine: liabilities are 54% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
4
of 6 voting members
Looks good: 4 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$494K
-66% vs prior year
Spent
$588K
To programs
87%
Net assets
$904K
By yearFY2020–FY2024
Revenue
$494K
FY2024▼ -66%
Tap a bar for its year
Revenue by fiscal year
FY2020$484K
FY2021$481K
FY2022$499K
FY2023$1.5M
FY2024$494K
Expenses
$588K
FY2024▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$470K
FY2021$522K
FY2022$504K
FY2023$645K
FY2024$588K
Net assets
$904K
FY2024▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$247K
FY2021$206K
FY2022$201K
FY2023$983K
FY2024$904K

From the FY2024 Form 990 (year ending June 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2010.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $513K Management & general 13% · $75K

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

6 people listed on the 990; $186K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$93,100Pt VII · Sec A
$93,100Pt VII · Sec A
Amy Carroll
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Brett Dubner
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Jennifer Maiocca’s $93K as Treasurer is at the 81st percentile of top reported officer pay among 851 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jennifer Maiocca$93,100$103,320$86,387$108,441$64,069
James O'Connell$93,100$103,320$86,387$108,441$64,069

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.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides a stable group home for young adults with disabilities to develop independent living skills.

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Provided by the organization

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3 programs · $513K · in their own filed words · FY2023
01

Provide safe housing for residents so they have a stable nurturing environment to learn and develop the necessary skills and awareness that will enable them to live healthy and happy independent lives.

$427Kprogram expense
02

To teach proper nutrition and eating habits by providing healthy food and cooking instruction to help sustain healthy and productive lives for the residents.

$77Kprogram expense
03

Provide social interaction and physical activity to residents by taking them on field trips to participate in sporting events and recreational activities to help develop social skills and physical fitness.

$9Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$73
Total grants receivedfrom 1 funder$73

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$494K
Ln 12
Fees for servicesLn 2g$494K
Gifts and grantsLn 1h$300
Money outPt IX
$588K
Ln 25
Programscol B$513K
Managementcol C$75K
Owns and owesPt X
$904K
net assets · Ln 32
Cash and savingsLn 1–2$24K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
6
listed · VII A
PaidVII A2
Voting boardVI 1a6
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$300
Fees for servicesLn 2g$494K
Total revenueLn 12$494K
Assets in detailPt X, end of year
CashLn 1$24K
Cash and savings togetherLn 1–2$24K
Land, buildings, equipmentLn 10c$2.0M
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.1M
Net assetsLn 32$904K
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$49K$24K
Land, buildings, equipmentLn 10c$2.0M$2.0M
Total assetsLn 16$2.1M$2.0M
LiabilitiesLn 26$1.1M$1.1M
Net assetsLn 32$983K$904K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$203K$183K$20K
Pension plan contributionsLn 8$6K$5K$597
Other employee benefitsLn 9$8K$8K$837
Payroll taxesLn 10$16K$14K$2K
Accounting feesLn 11c$11K$11K
Other fees for servicesLn 11g$750$750
Office expensesLn 13$3K$3K
OccupancyLn 16$107K$107K
TravelLn 17$2K$2K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$68K$68K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$96K$95K$1K
All other expensesLn 24e$33K$28K$4K
Total functional expensesLn 25$588K$513K$75K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $494K$588K−$94K$904K 990 PDF
FY2023 $1.5M$645K$821K$983K 990 PDF
FY2022 $499K$504K−$5K$201K 990 PDF
FY2021 $481K$522K−$41K$206K 990 PDF
FY2020 $484K$470K$14K$247K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $494,012 revenue, 12 lines filed
I-8 Contributions and grants$300
I-9 Program service revenuePrior year $472,427$493,712
I-10 Investment incomePrior year $993,454$0
I-11 Other revenue$0
I-12 Total revenuePrior year $1,465,881$494,012
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $231,343$233,155
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $413,540$354,711
I-18 Total expensesPrior year $644,883$587,866
I-19 Revenue less expensesPrior year $820,998−$93,854
Part VI · Governance 4 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $494,012 across 4 lines filed
VIII-1f All other contributions, gifts and grants$300
VIII-1h Total contributions, gifts and grants$300
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $493,712$493,712
VIII-12 Total revenueRelated to mission $493,712$494,012
Part IX · Statement of functional expenses $587,866 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $182,792 · Management $20,310$203,102
IX-8 Pension plan contributionsPrograms $5,376 · Management $597$5,973
IX-9 Other employee benefitsPrograms $7,534 · Management $837$8,371
IX-10 Payroll taxesPrograms $14,138 · Management $1,571$15,709
IX-11c Accounting feesManagement $10,550$10,550
IX-11g Other fees for servicesPrograms $750$750
IX-13 Office expensesManagement $3,004$3,004
IX-16 OccupancyPrograms $107,266$107,266
IX-17 TravelPrograms $2,111$2,111
IX-20 InterestPrograms $2,192$2,192
IX-22 Depreciation, depletion and amortizationPrograms $67,944$67,944
IX-23 InsuranceManagement $32,279$32,279
IX-24 Other expenses (24a–d)Programs $94,713 · Management $1,033$95,746
IX-24e All other expensesPrograms $28,491 · Management $4,378$32,869
IX-25 Total functional expensesPrograms $513,307 · Management $74,559 · Fundraising $0$587,866
Part X · Balance sheet $1,982,914 assets, 8 lines filed
Asset lines not itemized here account for $456; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $48,753$23,915
X-10c Land, buildings and equipment, netStart of year $2,026,486$1,958,543
X-16 Total assetsStart of year $2,075,239$1,982,914
X-17 Accounts payable and accrued expensesStart of year $144$146
X-26 Total liabilitiesStart of year $1,091,785$1,079,140
X-27 Net assets without donor restrictionsStart of year $983,454$903,774
X-32 Total net assets or fund balancesStart of year $983,454$903,774
X-33 Total liabilities and net assetsStart of year $2,075,239$1,982,914
Part XI · Reconciliation of net assets $903,774 net assets at year end
XI-1 Total revenue$494,012
XI-2 Total expenses$587,866
XI-3 Revenue less expenses−$93,854
XI-4 Net assets at start of year$983,454
XI-9 Other changes in net assets$14,174
XI-10 Net assets at end of year$903,774

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

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