Palaemon INC EIN 36-4638098 Form 990 (PDF) Claim this org

Palaemon INC FY2023 filing

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Provides a stable group home for young adults with disabilities to develop independent living skills. For fiscal year 2023 it reported $1.5M in revenue, $645K in expenses, and $983K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Barnstable, MA
Website
www.palaemonhouse.org
Filings
5 on file (2020–2023)
Revenue
$1.5MFY2023
Expenses
$645K
Net assets
$983K
People
8
Filings
5
Updates
0
More identity details & actions ⌄
EIN  36-4638098 Public charity (501(c)(3)) Barnstable, MA
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Provides a stable group home for young adults with disabilities to develop independent living skills.
Leadership
Jennifer Maiocca · Treasurer · $103K
Money in and out
$1.5M revenue, $645K expenses
Bottom line
94% program efficiency
Where the money goes · FY2023
Total revenue
$1.5M
Pt VIII · Ln 12
Total expenses
$645K
Pt IX · Ln 25
Net assets
$983K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $821K
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06
Program efficiency
94%
of spending reaches programs
Operating runway
0.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+56%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$1.5M
FY2023▲ +194%
Expenses
$645K
FY2023▲ +28%
Total assets
$2.1M
FY2023▲ +250%
Total liabilities
$1.1M
FY2023▲ +178%
Total revenue
$1.5M
Pt VIII · Ln 12
Total expenses
$645K
Pt IX · Ln 25
Net assets
$983K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$821K
Total assetsPt X · Ln 16$2.1M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $607K of program spending, described in the organization's own filed words · FY2022.
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.

$515Kprogram 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.

$79Kprogram 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.

$13Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPalaemon INC
EINHdr · item D36-4638098
Principal addressHdr · item CBarnstable, MA
WebsiteHdr · item Jwww.palaemonhouse.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L40)
Ruling yearIRS BMFAug 2010

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$103,320Pt VII · Sec A
$103,320Pt VII · Sec A
Trustee/Dire
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$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 848 $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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Statement of Revenue

Part VIII
Investment income$993K · 68%
Program service revenue$472K · 32%
Investment income68%$993K
Program service revenue32%$472K
Total revenueLn 12$1.5M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06
Program services94%$607K
Management & general6%$38K
Total functional expensesLn 25$645K

Balance Sheet

Part X · end of year
CashLn 1$49K
Total assetsLn 16$2.1M
Total liabilitiesLn 26$1.1M
Total net assetsLn 32$983K
Months of cash on handcomputed0.9

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $49K · Operating expenses/yr $645K
0.9 months
Where the money goes
Program services
Program services $607K · Total expenses $645K
94%
Management & General
Management & general $38K · Total expenses $645K
6%
Fundraising
Fundraising $0 · Total expenses $645K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $1.5M
0%
Government reliance
Government grants — · Total revenue $1.5M
Earned-income share
Program service revenue $472K · Total revenue $1.5M
32%
Investment reliance
Investment income $993K · Total revenue $1.5M
+68%
Program self-sufficiency
Program service revenue $472K · Total expenses $645K
73%
Growth & trend
Revenue growth (YoY)
This year $1.5M · Prior year $499K
+194%
Net-asset trend (YoY)
End of year $983K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.5M · Expenses $645K
+56%
Liabilities-to-Assets
Total liabilities — · Total assets $2.1M
Net-asset ratio
Net assets $983K · Total assets $2.1M
47%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jennifer Maiocca · Reported title TREASURER · Highest reported compensation $103K · Total expenses $645K
16%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $231K · Total expenses $645K
36%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 6%
Revenue growth 194%
Legal fee ratio 16%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$494K revenue · ⤓ 990 PDF
FY2023$1.5M revenue · viewing · ⤓ 990 PDF
FY2022$499K revenue · ⤓ 990 PDF
FY2021$481K revenue · ⤓ 990 PDF
FY2020$484K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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