Palm Beach Foundation INC

Tax-deductible

Palm Beach, FL501(c)(3)Arts & CultureEIN 90-0862697

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To uplift and mentor children and young adults on their path of creative cultural and civic worth and to support artistic, cultural and enviromental activities. To recognize the work of philanthropists.

501(c)(3) charity; gifts are tax-deductible.
35¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
2 of 6
filings with a surplus
Average deficit $14K a year · 18% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
35%
of spending
Concern: 35% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$40K
×17 of total assets
Concern: liabilities are 1700% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$211K
Spent
$208K
To programs
35%
Net assets
−$38K
By yearFY2020–FY2025
Revenue
$211K
FY2025
Revenue by fiscal year
FY2020$50K
FY2021$33K
FY2022$52K
FY2023$122K
FY2024$0
FY2025$211K
Expenses
$208K
FY2025
Expenses by fiscal year
FY2020$87K
FY2021$49K
FY2022$85K
FY2023$122K
FY2024$0
FY2025$208K
Net assets
−$38K
FY2025▲ +6%
Net assets by fiscal year
FY2020−$31K
FY2021−$27K
FY2022−$60K
FY2023−$40K
FY2024−$40K
FY2025−$38K

From the FY2025 Form 990 (year ending October 2025) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2013.

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

Where the money goes

35 cents of each dollar spent went to programs.

Program services 35% · $73K Management & general 7% · $14K Fundraising 58% · $121K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Palm Beach Foundation 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 15aYes

Programs and updates

Empowers youth through creative, cultural, and civic programs, supporting arts and environmental activities.

Provided by the organization

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1 program · $73K · in their own filed words · FY2024
01

students learn to help with the graphics and program set up for the fundraising activities, students work in the music and arts

$73Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$10K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$211K
Ln 12
Gifts and grantsLn 1h$211K
Money outPt IX
$208K
Ln 25
Programscol B$73K
Managementcol C$14K
Fundraisingcol D$121K
Owns and owesPt X
−$38K
net assets · Ln 32
Cash and savingsLn 1–2$3K
Total assetsLn 16$3K
LiabilitiesLn 26$40K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$211K
Gains on assetsLn 7$0
Total revenueLn 12$211K
Assets in detailPt X, end of year
CashLn 1$3K
SavingsLn 2$0
Cash and savings togetherLn 1–2$3K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$3K
LiabilitiesLn 26$40K
Net assetsLn 32−$38K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$0$3K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$0$3K
LiabilitiesLn 26$40K$40K
Net assetsLn 32−$40K−$38K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$34K$34K
Office expensesLn 13$0
Information technologyLn 14$5K$4K$1K
RoyaltiesLn 15$0
OccupancyLn 16$20K$13K$7K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$98K$98K
InterestLn 20$5K$5K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$13K$9K$4K
All other expensesLn 24e$23K$4K$2K$17K
Total functional expensesLn 25$208K$73K$14K$121K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $211K$208K$3K−$38K 990 PDF
FY2024 $0$0$0−$40K 990 PDF
FY2023 $122K$122K−$19−$40K 990 PDF
FY2022 $52K$85K−$33K−$60K 990 PDF
FY2021 $33K$49K−$16K−$27K 990 PDF
FY2020 $50K$87K−$37K−$31K 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 (4 parts)
Part VIII · Statement of revenue $210,780 across 8 lines filed
VIII-1f All other contributions, gifts and grants$154,885
VIII-1h Total contributions, gifts and grants$210,780
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$210,780
Part IX · Statement of functional expenses $208,228 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesPrograms $10,000$10,000
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionPrograms $34,002$34,002
IX-13 Office expenses$0
IX-14 Information technologyPrograms $3,750 · Fundraising $1,250$5,000
IX-15 Royalties$0
IX-16 OccupancyPrograms $13,060 · Management $6,726$19,786
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsFundraising $98,000$98,000
IX-20 InterestManagement $5,116$5,116
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $8,996 · Fundraising $4,374$13,370
IX-24e All other expensesPrograms $3,600 · Management $2,330 · Fundraising $17,024$22,954
IX-25 Total functional expensesPrograms $73,408 · Management $14,172 · Fundraising $120,648$208,228
Part X · Balance sheet $2,552 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $0$2,552
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $0$2,552
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $40,081$40,081
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $40,081$40,081
X-32 Total net assets or fund balancesStart of year −$40,081−$37,529
X-33 Total liabilities and net assetsStart of year $0$2,552
Part XI · Reconciliation of net assets −$37,529 net assets at year end
XI-1 Total revenue$210,780
XI-2 Total expenses$208,228
XI-3 Revenue less expenses$2,552
XI-4 Net assets at start of year−$40,081
XI-10 Net assets at end of year−$37,529

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

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