Civic Intelligence

Walter B Palmer Foundation Inc

990 • Fiscal year 2016 • EIN 31-1469468

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 03, 2017

Organization ProfileN/A
2 South Campus AvenueOxford, OH 45056-1872

(513) 523-6345

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.01x

Higher debt load relative to assets than 2% of similar nonprofits.

2016 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

18th percentile

0.20x

Higher debt load relative to revenue than 18% of similar nonprofits.

2016 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2016

Net Margin

99th percentile

76%

Higher net margin than 99% of similar nonprofits.

2016 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

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

2016 filings • 501(c)7 • $5M-$10M nonprofits • Source year 2016

Asset Growth

77th percentile

5.0%

Faster asset growth than 77% of similar nonprofits.

2016 filings • 501(c)7 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

14th percentile

-6.4%

Faster revenue growth than 14% of similar nonprofits.

2016 filings • 501(c)7 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$8,380,021

Up $396,975 (+5.0%) from 2015

Net Assets

Up

$8,305,829

Up $397,775 (+5.0%) from 2015

Liabilities

Down

$74,192

Down $800 (-1.1%) from 2015

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin99th percentile

Revenue

Down

$380,411

Down $25,890 (-6.4%) from 2015

Expenses

Down

$92,217

Down $99,999 (-52%) from 2015

Net Income

Up

$288,194

Up $74,109 (+35%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth77th 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

2016

Assets$8,380,021
Liabilities$74,192
Net Assets$8,305,829
Open 2016 Filing

Operations Trend

Revenue Growth14th percentile

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

2016

Revenue$380,411
Expenses$92,217
Net Income$288,194
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 3, 2017
Return Version
2016v3.0
Gross Receipts
$477,866
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
Investments in Publicly Traded Securities$3,295,899$3,537,641▲ $241,742
Other Notes and Loans Receivable, Net$3,252,341$3,243,059▼ $9,282
Savings and Temporary Cash Investments$1,078,169$1,301,037▲ $222,868
Investments Other Securities$251,417$251,417→ $0
Total Assets$7,983,046$8,380,021▲ $396,975
Other Assets Total$105,220$46,867▼ $58,353
Liabilities
Other Liabilities$49,916$50,041▲ $125
Accounts Payable and Accrued Expenses$25,076$24,151▼ $925
Total Liabilities$74,992$74,192▼ $800
Net Assets / Fund Balance
Unrestricted Net Assets$7,908,054$8,305,829▲ $397,775
Total Net Assets Fund Balance$7,908,054$8,305,829▲ $397,775
Total Liabilities and Net Assets / Fund Balance$7,983,046$8,380,021▲ $396,975
Compensation and Service Providers
Top Officer Pay25th percentile

Board Members and Trustees

NameTitle
Joe KohoutPresident
Doug WilesVice President
Carl MelbyTrustee
Chris JobTrustee
Chris YoungTrustee
Andrew LaporteSecretary
Melanie ClaytonStaff Liaison
Bart ReuterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$210,090
Investment Income
$159,308
Other Revenue
$11,013
Change in Net Assets
$288,194

Audited Revenue Reconciliation

Revenue per Audited Statements
$380,411
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$109,581
Total Revenue per Audited Statements
$489,992
Total Revenue per Form 990
$380,411
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$80,080
Salaries, Compensation, and Employee Benefits$12,137
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel---$21,980
Fees for Services Accounting---$21,275
Other Salaries and Wages---$12,137
Occupancy---$2,422
Other Expenses---$450
Total Functional Expenses$0$0$0$92,217

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$92,217
Total Expenses per Audited Statements$92,217
Total Expenses per Form 990$92,217
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$23,056
Custodial Acct - Ink$19,896
Custodial Account Wae$7,089
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 11B

“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

Filer Name
Walter B Palmer Foundation Inc
EIN
31-1469468
Phone
5135236345
Address
2 SOUTH CAMPUS AVENUE, OXFORD, OH 45056-1872

Signing Officer

Name
Joe Kohout President
Title
President
Phone
5135236345
Signed
2017-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joe Kohout
Formed
1924
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Somerset Cpas Pc
Address
3925 RIVER CROSSING PKWY, INDIANAPOLIS, IN 46240
Preparer
Matthew W Utterback CPA
Phone
3174722200
Raw XML Appendix333 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/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/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 11B
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/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt08380021
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt092217
IRS990/TotalGrossUBIAmt0159308
IRS990/TotalLiabilitiesBOYAmt074992
IRS990/TotalLiabilitiesEOYAmt074192
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IRS990/TotalLiabilitiesGrp/EOYAmt074192
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0210090
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IRS990/UnrelatedBusIncmOverLimitInd01
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05135236345
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WALTER B PALMER FOUNDATION INC
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ReturnHeader/Filer/PhoneNum05135236345
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0207.250.238.75
ReturnHeader/FilingSecurityInformation/IPDt02017-11-03
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0US
ReturnHeader/FilingSecurityInformation/IPTm014:47:29
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201717681
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SOMERSET CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03925 RIVER CROSSING PKWY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
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ReturnHeader/PreparerPersonGrp/PhoneNum03174722200
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW W UTTERBACK CPA
ReturnHeader/ReturnTs02017-11-15T07:40:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,380,021
Liabilities
$74,192
Net assets
$8,305,829
Revenue
$380,411
Expenses
$92,217
Net income
$288,194
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
2016Detailed filing. Detailed filing data is available for this year.$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