Palm Academy Inc

Charity Navigator Rating: Needs Improvement

Palm Academy Inc has received a two-star rating from Charity Navigator, indicating that there are significant areas for improvement within the organization. While it scores well in aspects such as having an entirely independent board and a high program expense ratio, which suggests a strong commitment to its mission-driven activities, it faces critical shortcomings in financial transparency and governance policies.

The charity has not provided financial statements, which is a major concern, as it limits the ability of stakeholders to assess the organization’s financial health. Moreover, the absence of a conflict of interest policy, a whistleblower policy, and a document retention policy raises questions about operational integrity and accountability. These gaps could undermine trust among donors and the communities it serves.

Despite these challenges, Palm Academy Inc maintains a low liabilities to assets ratio, indicating that it is managing its debts effectively. The organization’s strong program expense ratio reflects its dedication to using a significant portion of its budget for programmatic efforts. However, to enhance its rating and credibility, addressing the identified governance and transparency issues will be crucial.

This AI summary has been generated from information found on Charity Navigator.

Palm Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palm Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $26,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $503,499

For more financial information, click here

Official website here: www.palmacademy.com/