Civic Intelligence

Walter B Palmer Foundation Inc

990 • Fiscal year 2013 • EIN 31-1469468

Jan 01, 2013 to Dec 31, 2013 • Filed on Oct 08, 2014

Organization ProfileN/A
2 South Campus Avenue45056-1872

(513) 523-6345

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

1st percentile

0.01x

Higher debt load relative to assets than 1% of similar nonprofits.

2013 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

8th percentile

0.14x

Higher debt load relative to revenue than 8% of similar nonprofits.

2013 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2013

Net Margin

99th percentile

82%

Higher net margin than 99% of similar nonprofits.

2013 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2013 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2013

Asset Growth

80th percentile

7.4%

Faster asset growth than 80% of similar nonprofits.

2013 filings • 501(c)7 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets1st percentile

Assets

Up

$7,784,255

Up $534,388 (+7.4%) from 2012

Net Assets

Up

$7,719,445

Up $560,379 (+7.8%) from 2012

Liabilities

Down

$64,810

Down $25,991 (-29%) from 2012

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin99th percentile

Revenue

$470,924

No earlier filing loaded for comparison.

Expenses

Down

$85,014

Down $57,802 (-40%) from 2012

Net Income

$385,910

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2010: $6,674,422Liabilities 2010: $64,454Net Assets 2010: $6,609,9682010Assets 2011: $6,747,393Liabilities 2011: $63,844Net Assets 2011: $6,683,5492011Assets 2012: $7,249,867Liabilities 2012: $90,801Net Assets 2012: $7,159,0662012Assets 2013: $7,784,255Liabilities 2013: $64,810Net Assets 2013: $7,719,4452013Assets 2014: $8,051,860Liabilities 2014: $75,306Net Assets 2014: $7,976,5542014Assets 2015: $7,983,046Liabilities 2015: $74,992Net Assets 2015: $7,908,0542015Assets 2016: $8,380,021Liabilities 2016: $74,192Net Assets 2016: $8,305,8292016Assets 2017: $9,005,372Liabilities 2017: $144,364Net Assets 2017: $8,861,0082017Assets 2020: $10,442,489Liabilities 2020: $83,097Net Assets 2020: $10,359,3922020Assets 2021: $11,563,109Liabilities 2021: $469,109Net Assets 2021: $11,094,0002021Assets 2022: $10,403,716Liabilities 2022: $106,846Net Assets 2022: $10,296,8702022Assets 2024: $11,275,709Liabilities 2024: $80,773Net Assets 2024: $11,194,9362024

Highlighted filing

2013

Assets$7,784,255
Liabilities$64,810
Net Assets$7,719,445
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $75,5812010Expenses 2011: $77,2102011Expenses 2012: $142,8162012Revenue 2013: $470,924Expenses 2013: $85,014Net Income 2013: $385,9102013Revenue 2014: $430,938Expenses 2014: $101,070Net Income 2014: $329,8682014Revenue 2015: $406,301Expenses 2015: $192,216Net Income 2015: $214,0852015Revenue 2016: $380,411Expenses 2016: $92,217Net Income 2016: $288,1942016Revenue 2017: $769,402Expenses 2017: $431,276Net Income 2017: $338,1262017Revenue 2020: $494,065Expenses 2020: $343,793Net Income 2020: $150,2722020Revenue 2021: $556,769Expenses 2021: $137,563Net Income 2021: $419,2062021Revenue 2022: $349,092Expenses 2022: $589,893Net Income 2022: -$240,8012022Revenue 2024: $246,138Expenses 2024: $283,328Net Income 2024: -$37,1902024

Highlighted filing

2013

Revenue$470,924
Expenses$85,014
Net Income$385,910
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Oct 8, 2014
Return Version
2013v3.0
Gross Receipts
$725,743
Mission and Program Overview

Mission

The purpose of the Walter B. Palmer Foundation, Inc. is to assist Phi Delta Theta House Corporations and Phi Delta Theta General Fraternity by providing financial capital for acquisitions of chapter houses, improving and updating current chapter houses (including life safety improvements), and preserving prime property locations at which no Phi Delta Theta Chapter is currently located, as well as providing support for fundraising projects to support the above activities. The Foundation should follow investment practices that further its capital strength in order to pursue the above goals, and for the betterment of the Phi Delta Theta International Fraternity.

Provide financial capital to assist phi delta theta house corporations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,647,086$3,904,665▲ $257,579
Investments in Publicly Traded Securities$2,939,544$3,286,648▲ $347,104
Investments Other Securities$251,417$251,417→ $0
Savings and Temporary Cash Investments$276,792$206,497▼ $70,295
Total Assets$7,249,867$7,784,255▲ $534,388
Other Assets Total$135,028$135,028→ $0
Liabilities
Other Liabilities$68,990$42,900▼ $26,090
Accounts Payable and Accrued Expenses$21,811$21,910▲ $99
Total Liabilities$90,801$64,810▼ $25,991
Net Assets / Fund Balance
Unrestricted Net Assets$7,159,066$7,719,445▲ $560,379
Total Net Assets Fund Balance$7,159,066$7,719,445▲ $560,379
Total Liabilities and Net Assets / Fund Balance$7,249,867$7,784,255▲ $534,388
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Carl MelbyPresident
Bart ReuterVice President
Chris YoungTrustee
Doug WilesTrustee
Joe KohoutTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$211,012
Investment Income
$259,757
Other Revenue
$155
Change in Net Assets
$385,910

Audited Revenue Reconciliation

Revenue per Audited Statements
$470,924
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$174,471
Total Revenue per Audited Statements
$645,395
Total Revenue per Form 990
$470,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,014
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees---$29,325
Fees for Services Accounting---$19,888
Travel---$19,885
Occupancy---$2,253
Other Expenses---$6
Total Functional Expenses$0$0$0$85,014

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$85,014
Total Expenses per Audited Statements$85,014
Total Expenses per Form 990$85,014
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Custodial Acct - CA I$23,082
Custodial Acct - Ink$19,818
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The organization's 990 is reviewed with the chairman.”

Form 990, Part VI, Section B, Line 12C

“The activities of the organization typically do not involve situations that would give rise to conflicts of interest. Should a potential conflict arise, the trustees are actively involved in the activities of the organization and they would review the transaction.”

Form 990, Part VI, Section B, Line 15

“The organization shares employees with phi delta theta fraternity. Compensation is determined at that level.”

Form 990, Part VI, Section C, Line 19

“The governing documents, policies, and financial statements of the organization are available for public inspection upon request at the organization's office.”

Filing and Contact Details

Filer

EIN
31-1469468
Phone
5135236345

Signing Officer

Name
Carl B Melby Chairman
Title
President
Phone
5135236345
Signed
2014-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carl B Melby
Formed
1924
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Preparer
Matthew W Utterback CPA
Phone
3174722200
Raw XML Appendix303 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine10MELANIE CLAYTON
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IRS990/Desc0PROVIDING FINANCIAL CAPITAL FOR ACQUISITION OF CHAPTER HOUSES, IMPROVING AND UPDATING CURRENT CHAPTER HOUSES (INCLUDING LIFE SAFETY IMPROVEMENTS), AND PRESERVING PRIME PROPERTY LOCATIONS AT WHICH NO PHI DELTA THETA CHAPTER IS CURRENTLY LOCATED, AS WELL AS PROVIDING SUPPORT FOR FUNDRAISING PROJECTS TO SUPPORT THOSE ACTIVITIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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IRS990/MissionDesc0THE PURPOSE OF THE WALTER B. PALMER FOUNDATION, INC. IS TO ASSIST PHI DELTA THETA HOUSE CORPORATIONS AND PHI DELTA THETA GENERAL FRATERNITY BY PROVIDING FINANCIAL CAPITAL FOR ACQUISITION OF CHAPTER HOUSES, IMPROVING AND UPDATING CURRENT CHAPTER HOUSES (INCLUDING LIFE SAFETY IMPROVEMENTS), AND PRESERVING PRIME PROPERTY LOCATIONS AT WHICH NO PHI DELTA THETA CHAPTER IS CURRENTLY LOCATED, AS WELL AS PROVIDING SUPPORT FOR FUNDRAISING PROJECTS TO SUPPORT THOSE ACTIVITIES.THE FOUNDATION SHOULD FOLLOW INVESTMENT PRACTICES THAT FURTHER ITS CAPITAL STRENGTH IN ORDER TO PURSUE THE ABOVE GOALS, AND FOR THE BETTERMENT OF THE PHI DELTA THETA INTERNATIONAL FRATERNITY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S 990 IS REVIEWED WITH THE CHAIRMAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ACTIVITIES OF THE ORGANIZATION TYPICALLY DO NOT INVOLVE SITUATIONS THAT WOULD GIVE RISE TO CONFLICTS OF INTEREST. SHOULD A POTENTIAL CONFLICT ARISE, THE TRUSTEES ARE ACTIVELY INVOLVED IN THE ACTIVITIES OF THE ORGANIZATION AND THEY WOULD REVIEW THE TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION SHARES EMPLOYEES WITH PHI DELTA THETA FRATERNITY. COMPENSATION IS DETERMINED AT THAT LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS OF THE ORGANIZATION ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/USAddress/ZIPCode0450561872
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CARL B MELBY CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05135236345
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-10-08
ReturnHeader/Filer/BusinessName/BusinessNameLine10WALTER B PALMER FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WALT
ReturnHeader/Filer/EIN0311469468
ReturnHeader/Filer/PhoneNum05135236345
ReturnHeader/Filer/USAddress/AddressLine102 SOUTH CAMPUS AVENUE
ReturnHeader/Filer/USAddress/City0OXFORD
ReturnHeader/Filer/USAddress/State0OH
ReturnHeader/Filer/USAddress/ZIPCode0450561872
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201717681
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10SOMERSET CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine103925 RIVER CROSSING PKWY STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode046240
ReturnHeader/PreparerPersonGrp/PhoneNum03174722200
ReturnHeader/PreparerPersonGrp/PreparationDt02014-10-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW W UTTERBACK CPA
ReturnHeader/ReturnTs02014-10-15T15:09:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,784,255
Liabilities
$64,810
Net assets
$7,719,445
Revenue
$470,924
Expenses
$85,014
Net income
$385,910
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$0.08$11.2$0.25$0.28$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$0.11$10.3$0.35$0.59$0.24
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.6$0.47$11.1$0.56$0.14$0.42
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.4$0.08$10.4$0.49$0.34$0.15
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.01$0.14$8.86$0.77$0.43$0.34
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.38$0.07$8.31$0.38$0.09$0.29
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.98$0.07$7.91$0.41$0.19$0.21
2014Detailed filing. Detailed filing data is available for this year.$8.05$0.08$7.98$0.43$0.10$0.33
2013Detailed filing. Detailed filing data is available for this year.$7.78$0.06$7.72$0.47$0.09$0.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.25$0.09$7.16$0.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.75$0.06$6.68$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.67$0.06$6.61$0.08