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Palm INC FY2024 filing

Not tax-deductible

Pleasant Lake, MI501(c)(4)EIN 38-2603689

Promote, organize and sponsor a multi-day ride across lower michigan

98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $12K a year · 10% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.0 months of spending in cash; 3 or more.
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.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$127K
+26% vs prior year
Spent
$105K
To programs
98%
Net assets
$106K
By yearFY2020–FY2025
Revenue
$127K
FY2024▲ +26%
Revenue by fiscal year
FY2020$30
FY2021$4
FY2022$133K
FY2023$101K
FY2024$127K
FY2025$121K
Expenses
$105K
FY2024▲ +9%
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$123K
FY2023$96K
FY2024$105K
FY2025$110K
Net assets
$106K
FY2024▲ +26%
Net assets by fiscal year
FY2020$74K
FY2021$69K
FY2022$79K
FY2023$84K
FY2024$106K
FY2025$117K

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

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1987.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $103K Management & general 2% · $2K

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Paul Larose
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
See Palm INC executive salaries →

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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

Organizes and sponsors a multi-day bicycle ride across lower Michigan.

Provided by the organization

This section is blank until Palm INC claims this page.

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1 program service account for $103K of program spending, described in the organization's own filed words · FY2023.
01

The organization successfully conducted its annual event in june 2024 in which bicyclists rode michigans lower peninsula.

$103Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$127K
Ln 12
Fees for servicesLn 2g$127K
Money outPt IX
$105K
Ln 25
Programscol B$103K
Managementcol C$2K
Owns and owesPt X
$106K
net assets · Ln 32
Cash and savingsLn 1–2$105K
Total assetsLn 16$106K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$127K
Total revenueLn 12$127K
Assets in detailPt X, end of year
CashLn 1$105K
Cash and savings togetherLn 1–2$105K
Total assetsLn 16$106K
LiabilitiesLn 26$0
Net assetsLn 32$106K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$83K$105K
Total assetsLn 16$84K$106K
LiabilitiesLn 26$0$0
Net assetsLn 32$84K$106K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$648$648
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$5K$3K$2K
Other expenses (24a–d)Ln 24$97K$97K$205
Total functional expensesLn 25$105K$103K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $121K$110K$11K$117K 990 PDF
FY2024 Viewing $127K$105K$22K$106K 990 PDF
FY2023 $101K$96K$5K$84K 990 PDF
FY2022 $133K$123K$10K$79K 990 PDF
FY2021 $4$69K 990 PDF
FY2020 $30$74K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $126,924 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $126,924$126,924
VIII-12 Total revenueRelated to mission $126,924 · Unrelated business $0 · Excluded from tax $0$126,924
Part IX · Statement of functional expenses $104,850 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $648$648
IX-12 Advertising and promotionPrograms $2,066$2,066
IX-13 Office expensesPrograms $3,134 · Management $1,621$4,755
IX-24 Other expenses (24a–d)Programs $97,176 · Management $205$97,381
IX-25 Total functional expensesPrograms $103,024 · Management $1,826 · Fundraising $0$104,850
Part X · Balance sheet $105,910 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $82,898$104,972
X-8 Inventories for sale or useStart of year $938$938
X-16 Total assetsStart of year $83,836$105,910
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $83,836$105,910
X-32 Total net assets or fund balancesStart of year $83,836$105,910
X-33 Total liabilities and net assetsStart of year $83,836$105,910
Part XI · Reconciliation of net assets $105,910 net assets at year end
XI-1 Total revenue$126,924
XI-2 Total expenses$104,850
XI-3 Revenue less expenses$22,074
XI-4 Net assets at start of year$83,836
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$105,910

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

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