Overview
What is Palma School Foundation?
The Palma School Foundation, situated in Salinas, California, serves as a nonprofit organization dedicated to raising funds for student support. Its primary focus lies in providing financial aid and scholarships to facilitate the educational programs and services offered by Palma School. This support aims to enhance the educational experiences of its students, aligning with the school's mission to offer a high-quality, college-preparatory education in a Roman Catholic environment. The foundation's mission also extends to the wider community, embracing the essential elements of a Christian Brother education and encouraging personal growth in spiritual, intellectual, moral, physical, and social dimensions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating. This rating indicates that the Palma School Foundation meets basic standards of accountability and transparency, but there are areas for improvement. The organization has a strong governance structure, with a fully independent board and no material diversion of assets, which reflects a commitment to ethical practices.
Notably, the Palma School Foundation has achieved a perfect program expense ratio, meaning that all of its expenses are directed towards its core mission. However, the organization has received low scores for financial transparency due to the absence of financial statements and missing policies related to whistleblower protection and document retention. This lack of disclosure may raise concerns among potential donors about the foundation's financial management.
While the foundation demonstrates robust governance and effective use of funds, the missing financial documentation and policies suggest that it could enhance its accountability profile. Addressing these issues could help improve its overall rating and build greater trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Palma School Foundation legitimate?
Palma School Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palma School Foundation 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.
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Professional Fundraising Fees: $0
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What is the mission statement of Palma School Foundation?
The Palma School Foundation's mission is to offer financial aid for the educational programs and services provided by Palma School, benefiting its students and community. Aligned with Palma School's mission to offer a top-tier college preparatory education in a Roman Catholic setting, the foundation fosters spiritual, intellectual, moral, physical, and social development for each individual, adhering to the essential elements of an Edmund Rice Christian Brother education. The foundation aims to enhance the educational experience and support the school's mission.
Who is the CEO of Palma School Foundation?
Matthew Ottone is the President of Palma School Foundation.
What is the revenue of Palma School Foundation?
Palma School Foundation's revenue in 2022 was $587,205.
Who are the executives of Palma School Foundation and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Palma School Foundation?
Palma School Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Palma School Foundation
The Palma School Foundation is committed to providing supplemental financial support for the educational programs and services offered by Palma School. Aligning with the school's mission, the foundation aims to benefit its students and the wider community. The Palma School, with its Roman Catholic environment, offers a college preparatory education that embraces the essential elements of an Edmund Rice Christian Brother education. This holistic approach challenges each individual to develop spiritually, intellectually, morally, physically, and socially. The Palma School Foundation, in line with these principles, seeks to augment the school's resources, ultimately contributing to the overall growth and development of its students.
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Impact
July, 2024
Palma School Foundation's impact is felt through its provision of supplemental financial support for the educational programs and services offered by Palma School. This support directly benefits the students by providing financial aid and scholarships, ultimately helping to ensure that young men receive an excellent college preparatory education in a Roman Catholic environment. By raising funds for student support, the foundation plays a crucial role in enabling individuals to develop spiritually, intellectually, morally, physically, and socially within the framework of an Edmund Rice Christian Brother Education.
This information is meant to be a general summary of Palma School Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $587,205
Assets and Liabilities:
- Total Assets: $2,304,953
- Total Liabilities: $0
- Net Assets: $2,304,953
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Organization Details
Founding Year
2013
Phone
(831) 758-2401Principal Officer
Matthew Ottone
Main Address
1418 SOUTH MAIN ST STE 203, SALINAS, CA, 93908
NTEE Category
Code: B12 - Education
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