Civic Intelligence

Palaemon Inc.

990 • Fiscal year 2023 • EIN 36-4638098

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization ProfileWWW.PALAEMONHOUSE.ORG
3660 Main StreetBarnstable, MA 02630

(508) 395-0068

Siviq Scores

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

Liabilities / Assets

85th percentile

0.53x

Higher debt load relative to assets than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

0.74x

Higher debt load relative to revenue than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

92nd percentile

56%

Higher net margin than 92% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

69th percentile

$103,320

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

98th percentile

250%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

194%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$2,075,239

Up $1,482,215 (+250%) from 2022

Net Assets

Up

$983,454

Up $782,612 (+390%) from 2022

Liabilities

Up

$1,091,785

Up $699,603 (+178%) from 2022

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin92nd percentile

Revenue

Up

$1,465,881

Up $966,979 (+194%) from 2022

Expenses

Up

$644,883

Up $141,224 (+28%) from 2022

Net Income

Up

$820,998

Up $825,755 (+17359%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$3.0M$2.0M$1.0M$0Assets 2013: $642,137Liabilities 2013: $626,962Net Assets 2013: $15,1752013Assets 2014: $619,511Liabilities 2014: $571,414Net Assets 2014: $48,0972014Assets 2015: $619,359Liabilities 2015: $527,954Net Assets 2015: $91,4052015Assets 2016: $658,194Liabilities 2016: $504,461Net Assets 2016: $153,7332016Assets 2017: $634,609Liabilities 2017: $484,215Net Assets 2017: $150,3942017Assets 2018: $616,615Liabilities 2018: $463,032Net Assets 2018: $153,5832018Assets 2019: $700,250Liabilities 2019: $467,588Net Assets 2019: $232,6622019Assets 2020: $725,315Liabilities 2020: $478,236Net Assets 2020: $247,0792020Assets 2021: $625,759Liabilities 2021: $420,160Net Assets 2021: $205,5992021Assets 2022: $593,024Liabilities 2022: $392,182Net Assets 2022: $200,8422022Assets 2023: $2,075,239Liabilities 2023: $1,091,785Net Assets 2023: $983,4542023Assets 2024: $1,982,914Liabilities 2024: $1,079,140Net Assets 2024: $903,7742024

Highlighted filing

2023

Assets$2,075,239
Liabilities$1,091,785
Net Assets$983,454
Open 2023 Filing

Operations Trend

Revenue Growth95th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2013: $359,3322013Revenue 2014: $360,108Expenses 2014: $327,186Net Income 2014: $32,9222014Revenue 2015: $335,415Expenses 2015: $295,820Net Income 2015: $39,5952015Revenue 2016: $429,327Expenses 2016: $366,999Net Income 2016: $62,3282016Revenue 2017: $342,439Expenses 2017: $333,618Net Income 2017: $8,8212017Revenue 2018: $397,893Expenses 2018: $394,704Net Income 2018: $3,1892018Revenue 2019: $483,187Expenses 2019: $409,747Net Income 2019: $73,4402019Revenue 2020: $484,397Expenses 2020: $469,980Net Income 2020: $14,4172020Revenue 2021: $481,001Expenses 2021: $522,481Net Income 2021: -$41,4802021Revenue 2022: $498,902Expenses 2022: $503,659Net Income 2022: -$4,7572022Revenue 2023: $1,465,881Expenses 2023: $644,883Net Income 2023: $820,9982023Revenue 2024: $494,012Expenses 2024: $587,866Net Income 2024: -$93,8542024

Highlighted filing

2023

Revenue$1,465,881
Expenses$644,883
Net Income$820,998
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$1,972,427
Mission and Program Overview

Mission

To empower young adults with developmental learning disabilities towards an independent lifestyle by providing a group home with a stable environment within which to develope the skills needed to accomplish their independence.

To empower young adults with developmental learning disabilities towards an independent lifestyle by providing a group home with a stable environment within which to develop the skills needed to accomplish their independence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$550,931$2,026,486▲ $1,475,555
Cash and Non-Interest-Bearing Accounts$33,289$48,753▲ $15,464
Prepaid Expenses and Deferred Charges$8,804--
Total Assets$593,024$2,075,239▲ $1,482,215
Liabilities
Mortgage Notes Payable Secured by Investment Property$392,036$1,091,641▲ $699,605
Accounts Payable and Accrued Expenses$146$144▼ $2
Total Liabilities$392,182$1,091,785▲ $699,603
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$200,842$983,454▲ $782,612
Total Net Assets Fund Balance$200,842$983,454▲ $782,612
Total Liabilities and Net Assets / Fund Balance$593,024$2,075,239▲ $1,482,215

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,595,886$178,881$1,774,767
Land$430,600-$430,600
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseTotal
JAMES O'CONNELLPresidentFT$103,320$103,320
Jennifer MaioccaTreasurerFT$103,320$103,320

Board Members and Trustees

NameTitle
Brett DubnerDirector
Dustin G PineauDirector
JAMES R O'CONNELLDirector
Jennifer MaioccaDirector
Laurie SullivanDirector
Amy CarrollTrustee/dire
John C CartwrightClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$472,427
Investment Income
$993,454
Other Revenue
$0
Change in Net Assets
$820,998
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$413,540
Salaries, Compensation, and Employee Benefits$231,343
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$188,226$20,914-$209,140
Fees for Services Legal$100,933--$100,933
Occupancy$95,715--$95,715
All Other Expenses$42,128$3,169-$45,297
Fees for Services Management$27,033--$27,033
Interest$26,179--$26,179
Payroll Taxes$14,448$1,605-$16,053
Other Expenses$10,980$1,220-$12,200
Fees for Services Accounting-$7,919-$7,919
Insurance$6,756$751-$7,507
Pension Plan Contributions$5,535$615-$6,150
Office Expenses-$1,874-$1,874
Travel$600--$600
Total Functional Expenses$606,816$38,067$0$644,883
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 11B

“The board of directors review form 990 prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Palaemon Inc
EIN
36-4638098
Phone
5083950068
Address
3660 MAIN STREET, BARNSTABLE, MA 02630

Signing Officer

Name
Jennifer Maiocca
Title
Treasurer
Phone
5083950068
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
JAMES O'CONNELL
Formed
2008
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
7
Employees
2

Preparer

Firm
Crabtree CPA & Associates
Address
426 NORTH STREET, HYANNIS, MA 02601-5132
Preparer
Douglas R Crabtree CPA Citp Mst
Phone
5087902727
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To empower young adults with developmental learning disabilities towards an independent lifestyle by providing a group home with a stable environment within which to develop the skills needed to accomplish their independence.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -38,386”

Raw XML Appendix349 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO EMPOWER YOUNG ADULTS WITH DEVELOPMENTAL LEARNING DISABILITIES TOWARDS AN INDEPENDENT LIFESTYLE BY PROVIDING A GROUP HOME WITH A STABLE ENVIRONMENT WITHIN WHICH TO DEVELOP THE SKILLS NEEDED TO ACCOMPLISH THEIR INDEPENDENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEW FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK / TAX DEPRECIATION DIFFERENCE -38,386
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0593024
IRS990/TotalAssetsEOYAmt02075239
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt038067
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0606816
IRS990/TotalFunctionalExpensesGrp/TotalAmt0644883
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0392182
IRS990/TotalLiabilitiesEOYAmt01091785
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IRS990/TotalProgramServiceExpensesAmt0606816
IRS990/TotalProgramServiceRevenueAmt0472427
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01465881
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01465881
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0593024
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IRS990/TravelGrp/ProgramServicesAmt0600
IRS990/TravelGrp/TotalAmt0600
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/USAddress/CityNm0BARNSTABLE
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002630
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.PALAEMONHOUSE.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER MAIOCCA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05083950068
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PALAEMON INC
ReturnHeader/Filer/BusinessNameControlTxt0PALA
ReturnHeader/Filer/EIN0364638098
ReturnHeader/Filer/PhoneNum05083950068
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043142263
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRABTREE CPA & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0426 NORTH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HYANNIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0026015132
ReturnHeader/PreparerPersonGrp/PhoneNum05087902727
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOUGLAS R CRABTREE CPA CITP MST
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-05-15T16:10:43-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JENNIFER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MAIOCCA
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,075,239
Liabilities
$1,091,785
Net assets
$983,454
Revenue
$1,465,881
Expenses
$644,883
Net income
$820,998
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.98$1.08$0.90$0.49$0.59$0.09
2023Detailed filing. Detailed filing data is available for this year.$2.08$1.09$0.98$1.47$0.64$0.82
2022Detailed filing. Detailed filing data is available for this year.$0.59$0.39$0.20$0.50$0.50$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.63$0.42$0.21$0.48$0.52$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.73$0.48$0.25$0.48$0.47$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.70$0.47$0.23$0.48$0.41$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.62$0.46$0.15$0.40$0.39$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.63$0.48$0.15$0.34$0.33$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.66$0.50$0.15$0.43$0.37$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.62$0.53$0.09$0.34$0.30$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.62$0.57$0.05$0.36$0.33$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.63$0.02$0.36