Estes Palmer Foundation

Tax-deductible

East Lansing, MI501(c)(3)Foundations & GrantmakersEIN 38-6258410Revenue $741K in FY2025

On file with the IRS6400 Heathfield Dr, 48823-9665 · East Lansing, MITax-exempt since Jan 1973Supporting organization — 509(a)(3)

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To provide financial assistance to adrian college and asbury theological seminary.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$10K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · 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
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
3 of 6
filings with a surplus
Average surplus $113K a year · 22% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$10K
to officers and key staff · 2% of spending
Top officer’s pay lower than 98% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
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
$741K
+27% vs prior year
Spent
$410K
To programs
80%
Net assets
$8.1M
By yearFY2020–FY2025
Revenue
$741K
FY2025▲ +27%
Tap a bar for its year
Revenue by fiscal year
FY2020$249K
FY2021$998K
FY2022$221K
FY2023$330K
FY2024$585K
FY2025$741K
Expenses
$410K
FY2025▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$340K
FY2021$371K
FY2022$582K
FY2023$361K
FY2024$381K
FY2025$410K
Net assets
$8.1M
FY2025▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.4M
FY2021$8.0M
FY2022$7.6M
FY2023$7.6M
FY2024$7.8M
FY2025$8.1M

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1973.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $330K Management & general 20% · $80K

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

5 people listed on the 990; $10K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$2,000Pt VII · Sec A
Vice President & Secretary
$2,000Pt VII · Sec A
$2,000Pt VII · Sec A
Director
$2,000Pt VII · Sec A
$2,000Pt VII · Sec A

Lance R Lynch’s $2K as President is at the 2nd percentile of top reported officer pay among 1264 $100K–1M philanthropy & grantmaking 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lance R Lynch$2,000$2,000$2,000$2,000$2,000$2,000
Allison M Buege-Watson$2,000—————
Stephen Serkaian$2,000$2,000$2,000$2,000$2,000$2,000
Jeremy Gough$2,000$2,000$2,000$2,000——
Mark J Deluca$2,000$2,000$2,000———
Allison M Buege Watson—$2,000$2,000$2,000$2,000$2,000
Dr Jon H Reynolds———$2,000$2,000$2,000
Dr Richard J Halik————$2,000$2,000

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.

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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

Offers financial aid to Adrian College and Asbury Theological Seminary.

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Provided by the organization

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2 programs · $330K · in their own filed words · FY2025
01

Grant

Asbury theological seminary

$165Kprogram expense
02

Grant

Adrian college

$165Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 12 grants · $2.0M · 2020–2025
Asbury Theological SeminaryKY · FY2025$164,764
Adrian CollegeMI · FY2025$164,764
Asbury Theological SeminaryKY · FY2024$152,718
Adrian CollegeMI · FY2024$152,718
Asbury Theological SeminaryKY · FY2023$137,301
Adrian CollegeMI · FY2023$137,301
Asbury Theological SeminaryKY · FY2022$251,201
Adrian CollegeMI · FY2022$251,201
Asbury Theological SeminaryKY · FY2021$159,604
Adrian CollegeMI · FY2021$159,604
Asbury Theological SeminaryKY · FY2020$148,126
Adrian CollegeMI · FY2020$148,126

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$741K
Ln 12
Investment incomeLn 3$741K
Other incomeLn 4–11$407
Money outPt IX
$410K
Ln 25
Programscol B$330K
Managementcol C$80K
Owns and owesPt X
$8.1M
net assets · Ln 32
Cash and savingsLn 1–2$81K
Total assetsLn 16$8.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A5
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$741K
Other incomeLn 4–11$407
Gains on assetsLn 7$378K
Total revenueLn 12$741K
Assets in detailPt X, end of year
CashLn 1$81K
Cash and savings togetherLn 1–2$81K
InvestmentsLn 11–13$8.0M
Total assetsLn 16$8.1M
LiabilitiesLn 26$0
Net assetsLn 32$8.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$203K$81K
InvestmentsLn 11–13$7.6M$8.0M
Total assetsLn 16$7.8M$8.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$7.8M$8.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$330K$330K
Pay of current officers, directors and key staffLn 5$10K$10K
Legal feesLn 11b$9K$9K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$50K$50K
Office expensesLn 13$25$25
Conferences, conventions and meetingsLn 19$1K$1K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$410K$330K$80K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $741K$410K$331K$8.1M 990 PDF
FY2024 $585K$381K$204K$7.8M 990 PDF
FY2023 $330K$361K−$31K$7.6M 990 PDF
FY2022 $221K$582K−$361K$7.6M 990 PDF
FY2021 $998K$371K$627K$8.0M 990 PDF
FY2020 $249K$340K−$91K$7.4M 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 FY2025 990 (6 parts)
Part I · Summary $741,360 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $584,940$740,953
I-11 Other revenuePrior year $0$407
I-12 Total revenuePrior year $584,940$741,360
I-13 Grants and similar amounts paidPrior year $305,436$329,528
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,000$10,000
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $65,427$70,496
I-18 Total expensesPrior year $380,863$410,024
I-19 Revenue less expensesPrior year $204,077$331,336
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $741,360 across 4 lines filed
VIII-3 Investment incomeExcluded from tax $362,938$362,938
VIII-7 Net gain or loss on sales of assetsExcluded from tax $378,015$378,015
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $407$407
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $741,360$741,360
Part IX · Statement of functional expenses $410,024 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $329,528$329,528
IX-5 Pay of current officers, directors and key staffManagement $10,000$10,000
IX-11b Legal feesManagement $9,463$9,463
IX-11c Accounting feesManagement $5,325$5,325
IX-11f Investment management feesManagement $50,158$50,158
IX-13 Office expensesManagement $25$25
IX-19 Conferences, conventions and meetingsManagement $1,379$1,379
IX-24 Other expenses (24a–d)Management $4,146$4,146
IX-25 Total functional expensesPrograms $329,528 · Management $80,496 · Fundraising $0$410,024
Part X · Balance sheet $8,129,952 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $202,867$80,817
X-12 Other securitiesStart of year $7,595,749$8,049,135
X-16 Total assetsStart of year $7,798,616$8,129,952
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $7,798,616$8,129,952
X-33 Total liabilities and net assetsStart of year $7,798,616$8,129,952
Part XI · Reconciliation of net assets $8,129,952 net assets at year end
XI-1 Total revenue$741,360
XI-2 Total expenses$410,024
XI-3 Revenue less expenses$331,336
XI-4 Net assets at start of year$7,798,616
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,129,952

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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