Palmer House INC: Nonprofit Profile, Financials & Form 990 (EIN 59-2533809)

Revenue by fiscal year
FY2021	$1.8M
FY2022	$1.8M
FY2023	$26.5M
FY2024	$239K
FY2025	$174K

Expenses by fiscal year
FY2021	$1.4M
FY2022	$1.5M
FY2023	$1.9M
FY2024	$14K
FY2025	$418K

Net assets by fiscal year
FY2021	−$560K
FY2022	−$320K
FY2023	$24.3M
FY2024	$25.3M
FY2025	$22.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1985.

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

Part of a larger organization · Schedule R

Palmer House INC files its own Form 990, but Schedule R discloses 16 related entities — figures on this page are for this EIN only, not the whole group.

St Monica Gardens INC · Miami Beach Marian Towers INC · St Andrew Towers INC · St Joseph Haitian Mission Manor INC + 12 more · see all

Combined filings · FY2025 · 16 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 1% of group revenue.

Group revenue

$19.6M

Group expenses

$19.2M

Group net assets

$119.8M

St Monica Gardens INC · $997K rev · $7.8M net assets

Miami Beach Marian Towers INC · $575K rev · $20.4M net assets

St Andrew Towers INC · $228K rev · −$4.1M net assets

St Joseph Haitian Mission Manor INC · $817K rev · $7.8M net assets

St Vincent De Paul Gardens INC · $1.1M rev · $5.7M net assets

St Joseph Towers INC · $1.8M rev · −$102K net assets

Where the money goes

0 cents of each dollar spent went to programs.

100%

Program services 0% · $61 Management & general 100% · $418K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Rev Marcos Somarriba

President

$0Pt VII · Sec A

Rev Carlos Armando Martinez Romero

Director

$0Pt VII · Sec A

Rev Jean Jadotte

Director

$0Pt VII · Sec A

Rev Steven O'Hala

Director

$0Pt VII · Sec A

Rev Samuel Muodiaju

Director

$0Pt VII · Sec A

Rev Eduardo Logiste Felix

Director

$0Pt VII · Sec A

Rev Msgr Michael Souckar

Vice Pres./Secretary

$0Pt VII · Sec A

Rev Andrzej Foltyn

Director

$0Pt VII · Sec A

See Palmer House 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

Palmer House INC is a housing nonprofit based in Laud Lakes, FL, formed in 1988.

Questions for Palmer House INC

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Provided by the organization

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1 program · $61 · in their own filed words · FY2024

01

Sponsorship of us department of housing and urban development (hud) project consisting of rental units for low income elderly and handicapped persons.

$61program expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$174K

Ln 12

Investment incomeLn 3$174K

Money outPt IX

$418K

Ln 25

Programscol B$61

Managementcol C$418K

Owns and owesPt X

$22.1M

net assets · Ln 32

Cash and savingsLn 1–2$6.0M

Total assetsLn 16$22.5M

LiabilitiesLn 26$418K

PeoplePt VI, VII

12

listed · VII A

PaidVII A0

Voting boardVI 1a12

IndependentVI 1b12

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$174K

Total revenueLn 12$174K

Assets in detailPt X, end of year

CashLn 1$6.0M

Cash and savings togetherLn 1–2$6.0M

Other assetsLn 15$14.5M

Total assetsLn 16$22.5M

LiabilitiesLn 26$418K

Net assetsLn 32$22.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$10.8M	$6.0M
Total assetsLn 16	$25.3M	$22.5M
LiabilitiesLn 26	$6K	$418K
Net assetsLn 32	$25.3M	$22.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$120K		$120K
Accounting feesLn 11c	$6K		$6K
Office expensesLn 13	$61	$61
Other expenses (24a–d)Ln 24	$291K		$291K
Total functional expensesLn 25	$418K	$61	$418K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$174K	$418K	−$244K	$22.1M	990 PDF
FY2024	$239K	$14K	$224K	$25.3M	990 PDF
FY2023	$26.5M	$1.9M	$24.6M	$24.3M	990 PDF
FY2022	$1.8M	$1.5M	$240K	−$320K	990 PDF
FY2021	$1.8M	$1.4M	$326K	−$560K	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 $173,766 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 $233,766$173,766

I-11 Other revenuePrior year $4,750$0

I-12 Total revenuePrior year $238,516$173,766

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $14,252$417,891

I-18 Total expensesPrior year $14,252$417,891

I-19 Revenue less expensesPrior year $224,264−$244,125

Part VI · Governance 12 of 12 board members independent, 1 to look at

VI-1a Voting members of the governing body12

VI-1b Independent voting members12

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 $173,766 across 2 lines filed

VIII-3 Investment incomeExcluded from tax $173,766$173,766

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $173,766$173,766

Part IX · Statement of functional expenses $417,891 across 4 lines filed

IX-11a Management feesManagement $120,154$120,154

IX-11c Accounting feesManagement $6,376$6,376

IX-13 Office expensesPrograms $61$61

IX-24 Other expenses (24a–d)Management $291,300$291,300

IX-25 Total functional expensesPrograms $61 · Management $417,830 · Fundraising $0$417,891

Part X · Balance sheet $22,499,083 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $10,785,961$5,953,619

X-4 Accounts receivable$2,000,000

X-15 Other assetsStart of year $14,545,487$14,545,464

X-16 Total assetsStart of year $25,331,448$22,499,083

X-17 Accounts payable and accrued expensesStart of year $6,000$126,454

X-19 Deferred revenue$291,300

X-25 Other liabilitiesStart of year $22$28

X-26 Total liabilitiesStart of year $6,022$417,782

X-27 Net assets without donor restrictionsStart of year $25,325,426$22,081,301

X-32 Total net assets or fund balancesStart of year $25,325,426$22,081,301

X-33 Total liabilities and net assetsStart of year $25,331,448$22,499,083

Part XI · Reconciliation of net assets $22,081,301 net assets at year end

XI-1 Total revenue$173,766

XI-2 Total expenses$417,891

XI-3 Revenue less expenses−$244,125

XI-4 Net assets at start of year$25,325,426

XI-9 Other changes in net assets−$3,000,000

XI-10 Net assets at end of year$22,081,301

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

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Palmer House INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Palmer House INC

Funders

Related Organizations

By the numbers

Filing history

Schedules filed Part IV