Civic Intelligence

Palma School Foundation

EIN 46-4896381 • 501(c)3 • Salinas, CA

Profile

To provide supplemental financial support for the educational programs and services provided by palma school for the benefit of its students and community, consistent with the schools mission to provide young men an excellent college preparatiory education in a roman catholic environment that embraces the essential elements of an edmund rice christian brother education and challenges each individual to develop spiritually, intellectually, morally, physically, and socially.

1418 South Main St Ste 203Salinas, CA 93908

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

65th percentile

13%

Higher net margin than 65% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

72nd percentile

14%

Faster asset growth than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

99th percentile

787%

Faster revenue growth than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$2,832,129

Up $345,258 (+14%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$2,832,129

Up $345,258 (+14%) from 2023

Operations
Liabilities / Revenue19th percentileNet Margin65th percentile

Revenue

Up

$2,592,664

Up $2,300,519 (+787%) from 2023

Expenses

Up

$2,253,611

Up $2,143,384 (+1945%) from 2023

Net Income

Up

$339,053

Up $157,135 (+86%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth72nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2020: $1,287,548Liabilities 2020: $1,350Net Assets 2020: $1,286,1982020Assets 2021: $1,741,786Liabilities 2021: $2,650Net Assets 2021: $1,739,1362021Assets 2022: $2,304,953Liabilities 2022: $0Net Assets 2022: $2,304,9532022Assets 2023: $2,486,871Liabilities 2023: $0Net Assets 2023: $2,486,8712023Assets 2024: $2,832,129Liabilities 2024: $0Net Assets 2024: $2,832,1292024

Highlighted filing

2024

Assets$2,832,129
Liabilities$0
Net Assets$2,832,129
Open 2024 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0Revenue 2020: $1,288,566Expenses 2020: $2,368Net Income 2020: $1,286,1982020Revenue 2021: $518,759Expenses 2021: $65,821Net Income 2021: $452,9382021Revenue 2022: $587,205Expenses 2022: $21,388Net Income 2022: $565,8172022Revenue 2023: $292,145Expenses 2023: $110,227Net Income 2023: $181,9182023Revenue 2024: $2,592,664Expenses 2024: $2,253,611Net Income 2024: $339,0532024

Highlighted filing

2024

Revenue$2,592,664
Expenses$2,253,611
Net Income$339,053
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,832,129
Liabilities
$0
Net assets
$2,832,129
Revenue
$2,592,664
Expenses
$2,253,611
Net income
$339,053
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.83$0.00$2.83$2.59$2.25$0.34
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.49$0.00$2.49$0.29$0.11$0.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.30$0.00$2.30$0.59$0.02$0.57
2021Detailed filing. Detailed filing data is available for this year.$1.74$0.00$1.74$0.52$0.07$0.45
2020Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$1.29$0.00$1.29
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 7, 2025
Return Version
2024v5.2
Gross Receipts
$2,592,664
Mission and Program Overview

Mission

To provide supplemental financial support for the educational programs and services provided by palma school for the benefit of its students and community, consistent with the schools mission to provide young men an excellent college preparatiory education in a roman catholic environment that embraces the essential elements of an edmund rice christian brother education and challenges each individual to develop spiritually, intellectually, morally, physically, and socially.

The mission of the palma school foundation is to financially support the educational programs and mission of palma school for the benefit of its students and community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,486,871$2,832,129▲ $345,258
Cash and Non-Interest-Bearing Accounts$2,460,513$2,794,100▲ $333,587
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,486,871$2,832,129▲ $345,258
Other Assets Total$26,358$38,029▲ $11,671
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,486,871$2,832,129▲ $345,258
Total Liabilities and Net Assets / Fund Balance$2,486,871$2,832,129▲ $345,258
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Matthew OttonePresident
Amy HaasDirector
John MccarthyDirector
Kim CostaDirector
Mark CliftonDirector
John MazzeiSecretary
Gina CochettiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,466,231
Program Service Revenue
$0
Investment Income
$126,433
Other Revenue
$0
All Other Contributions
$2,466,231
Change in Net Assets
$339,053
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,181,088
Other Expenses$72,523
Total Fundraising Expense$60,859
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,181,088--$2,181,088
Fees for Services Management--$55,947$55,947
Advertising--$4,912$4,912
Fees for Services Accounting-$1,950-$1,950
Fees for Services Legal-$525-$525
Other Expenses$100$1,194-$100
All Other Expenses$94--$94
Total Functional Expenses$2,181,789$10,963$60,859$2,253,611
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Christian Brothers Institute of California Dba Palma SchoolSalinas, CA-Operations Support & Gym Improvements$2,176,192
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
No
Annual disclosure for covered persons
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, Part VI, Section B, Line 11B

“The board reviews and approves form 990 for accuracy and completeness.”

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

“Annual questionnares are provided to board members which require members to disclose any information that could give rise to conflict.”

Form 990, Part VI, Section C, Line 19

“The governing documents, policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Palma School Foundation
EIN
46-4896381
Phone
8317582401
Address
1418 SOUTH MAIN ST STE 203, SALINAS, CA 93908

Signing Officer

Name
Matthew Ottone
Title
President
Phone
8317582401
Signed
2025-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Ottone
Formed
2013
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Bianchi Kasavan & Pope Llp
Address
450 LINCOLN AVENUE SUITE 200, SALINAS, CA 93901
Preparer
Aviv Kadosh
Phone
8317575311
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Part x, question #2: fin 48 the organization has been granted tax-exempt status by the internal revenue service under code section 501(c)(3). Certain types of income are considered unrelated business taxable income which is taxed at regular corporate income tax rates. The organization had no unrelated business taxable income during the year ended december 31, 2021. The organization believes that its tax positions will, more likely than not, be sustained based on their technical merits, should there be an examination by a taxing authority. Management evaluated the organization's tax positions and concluded they took no uncertain tax positions requiring adjustment to the financial statements to comply with the provisions issued by the financial accounting standards board.”

Raw XML Appendix371 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0BOTH ORGANIZATIONS MAINTAIN SEPERATE BOARDS IN ORDER NOT TO IMPAIR INDEPENDENCE. SUPPORTED ORGANIZATION KEEPS CLOSE AND CONSTANT COMMUNICATION WITH PALMA SCHOOL FOUNDATION ESPECIALLY IN ORDER TO FACILITATE REQUESTS FOR FUNDING OF ITS CORE PROGRAMS SUBJECT TO APPROVAL BY BOARD. FURTHERMORE, THE SUPPORTING ORGANIZATION PROVIDES MONTHLY REPORTS TO THE SUPPORTED ORGANIZATION REGARDING THE AMOUNT RAISED, AND PROVIDES A REPORT TO THE SUPPORTED ORGANIZATION'S BOARD OF DIRECTORS OF THE ACTIVITIES OF THE SUPPORTING ORGANIZATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE ORGANIZATION IS SET UP TO PROVIDE ADDITIONAL FINANCIAL SUPPORT TO THE PALMA SCHOOL AS REQUESTED. MORE SPECIFICALLY, ORGANIZATION IS ESTABLISHED TO ASSIST WITH FINANICAL AID AND SCHOLARSHIP REQUESTS, THEREBY SUPPORTING THE EDUCATIONAL PROGRAMS AND MISSION OF PALMA SCHOOL.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A,SECTION D, LINE 2
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SCHEDULE A,SECTION E, LINE 2A
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CHRISTIAN BROTHERS INSTITUTE OF CALIFORNIA DBA PALMA SCHOOL
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PART X, QUESTION #2: FIN 48 THE ORGANIZATION HAS BEEN GRANTED TAX-EXEMPT STATUS BY THE INTERNAL REVENUE SERVICE UNDER CODE SECTION 501(C)(3). CERTAIN TYPES OF INCOME ARE CONSIDERED UNRELATED BUSINESS TAXABLE INCOME WHICH IS TAXED AT REGULAR CORPORATE INCOME TAX RATES. THE ORGANIZATION HAD NO UNRELATED BUSINESS TAXABLE INCOME DURING THE YEAR ENDED DECEMBER 31, 2021. THE ORGANIZATION BELIEVES THAT ITS TAX POSITIONS WILL, MORE LIKELY THAN NOT, BE SUSTAINED BASED ON THEIR TECHNICAL MERITS, SHOULD THERE BE AN EXAMINATION BY A TAXING AUTHORITY. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THEY TOOK NO UNCERTAIN TAX POSITIONS REQUIRING ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATIONS SUPPORT & GYM IMPROVEMENTS
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PALMA SCHOOL SUBMITS GRANT APPLICATIONS FOR FUNDS FROM THE FOUNDATIONS FOR SPECIFIC PROGRAMS, THE TUITION ASSISTANCE FUND, FACILITIES AND OTHER USES. THE FOUNDATION BOARD MEETS TO REVIEW GRANT APPLICATION TO DETERMINE WHETHER THE FUND WILL BE USED CONSISTENT WITH THE SCHOOL'S BUDGET AND WITH THE FOUNDATION'S GRANTING GUIDELINES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LN 2
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS AND APPROVES FORM 990 FOR ACCURACY AND COMPLETENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUAL QUESTIONNARES ARE PROVIDED TO BOARD MEMBERS WHICH REQUIRE MEMBERS TO DISCLOSE ANY INFORMATION THAT COULD GIVE RISE TO CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
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 C, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BIANCHI KASAVAN & POPE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0450 LINCOLN AVENUE SUITE 200
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AVIV KADOSH
ReturnHeader/ReturnTs02025-11-14T16:15:29-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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