Palm INC

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EIN 38-2603689 Membership association Pleasant Lake, MI
Form 990 (PDF)

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Revenue & expenses by yearFY2020–FY2025
Revenue
$121K
FY2025▼ -5%
Expenses
$110K
FY2025▲ +5%

Form 990 for the fiscal year ending October 2025 (IRS tax year 2024).


Organizes and sponsors a multi-day bicycle ride across lower Michigan. For fiscal year 2025 it reported $121K in revenue, $110K in expenses, and $117K in net assets.Pt I

Type
Membership association · Nonprofit
Location
Pleasant Lake, MI
Website
www.palmbiketour.org
Filings
6 on file (2020–2025)
Revenue
$121KFY2025
Expenses
$110K
Net assets
$117K
People
5
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Provided by the organization

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Size
$100K–1M
What they do
Organizes and sponsors a multi-day bicycle ride across lower Michigan.
Leadership
Andy Vast Binder · Member at Large
Money in and out
$121K revenue, $110K expenses
Bottom line
+9% operating surplus

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

WARNING

No — not deductible

IRS records this as a A social-welfare organization or civic league. Contributions are generally not tax-deductible.; contributions are not deductible as charitable gifts. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Filed FY2024 (typical filing lag)

Most recent Form 990 on file is for fiscal year 2024 (2 years ago). See detail →

Is it receiving grants from reputable foundations?

NEUTRAL

No foundation grants on file

No Schedule I/Schedule R grants from other foundations are on file for this EIN. See detail →

How is the money spent?

GOOD

96% to programs

96% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

$100K–1M · ↓ -5% vs prior year

Revenue band $100K–1M, -5% versus the prior filing year (down). See detail →

Membership & operating revenue · FY2025
Total revenue
$121K
Pt VIII · Ln 12
Total expenses
$110K
Pt IX · Ln 25
Net assets
$117K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $11K
Where spending went · Part IX cols B–D
Program services $0.96 Management & general $0.04
Operating surplus
+9%
revenue over expenses▼ -48% vs prior filing year
Earned revenue
100%
of revenue from program services & dues0% vs prior filing year
Program spending
96%
of expenses reach member services▼ -2% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$117K
FY2025▲ +10%
Total liabilities
$0
FY2025
Revenue less expensesPt I · Ln 19$11K
Total assetsPt X · Ln 16$117K
Program-expense ratioPt IX · col B96%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CPalm INC
EINHdr · item D38-2603689
Principal addressHdr · item CPleasant Lake, MI
WebsiteHdr · item Jwww.palmbiketour.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(4) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFMar 1987

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
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 (FY2024); the FY2025 filing did not itemize Part VII
Member at Large
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $106K of program spending, described in the organization's own filed words · FY2024.
01

The organization successfully conducted its annual event in june 2025 in which bicyclists rode michigans lower peninsula.

$106Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue100%$121K
Total revenueLn 12$121K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.96 Management & general $0.04
Program services96%$106K
Management & general4%$4K
Total functional expensesLn 25$110K

Balance Sheet

Part X · end of year
CashLn 1$116K
Total assetsLn 16$117K
Total liabilitiesLn 26$0
Total net assetsLn 32$117K
Months of cash on handcomputed12.6

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $116K · Operating expenses/yr $110K
12.6 months
Where the money goes
Program services
Program services $106K · Total expenses $110K
96%
Management & General
Management & general $4K · Total expenses $110K
4%
Fundraising
Fundraising $0 · Total expenses $110K
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 $121K
0%
Government reliance
Government grants — · Total revenue $121K
—
Earned-income share
Program service revenue $121K · Total revenue $121K
100%
Investment reliance
Investment income $0 · Total revenue $121K
0%
Program self-sufficiency
Program service revenue $121K · Total expenses $110K
110%
Growth & trend
Revenue growth (YoY)
This year $121K · Prior year $127K
-5%
Net-asset trend (YoY)
End of year $117K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $121K · Expenses $110K
+9%
Liabilities-to-Assets
Total liabilities — · Total assets $117K
—
Net-asset ratio
Net assets $117K · Total assets $117K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $117K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Andy Vast Binder · Reported title MEMBER AT LARGE · Highest reported compensation $0 · Total expenses $110K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $110K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 96%——
Overhead ratio 4%——
Revenue growth -5%——

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.

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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
FY2025 (Latest)$121K revenue · viewing · ⤓ 990 PDF
FY2024$127K revenue · ⤓ 990 PDF
FY2023$101K revenue · ⤓ 990 PDF
FY2022$133K revenue · ⤓ 990 PDF
FY2021$4 revenue · ⤓ 990 PDF
FY2020$30 revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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