Civic Intelligence

R Merle Palmer Minority Scholarship Foundation

EIN 91-1742581 • 501(c)3 • Tacoma, WA

Profile

Supporting underrepresented pierce county students of color to overcome financial, cultural, and social barriers in their pursuit of higher education. Our vision is for our students to succeed in graduating from college with the essential tools to be catalysts for change, leaders in our community, and become personally empowered.

PO Box 7119Tacoma, WA 98417

www.palmerscholars.org

Siviq Scores

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

Liabilities / Assets

36th percentile

0.02x

Higher debt load relative to assets than 36% of similar nonprofits.

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

Liabilities / Revenue

34th percentile

0.02x

Higher debt load relative to revenue than 34% of similar nonprofits.

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

Net Margin

35th percentile

-1.5%

Higher net margin than 35% of similar nonprofits.

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

Top Officer Pay

85th percentile

$165,962

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 10.4% of source-year revenue.

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

Asset Growth

51st percentile

3.9%

Faster asset growth than 51% of similar nonprofits.

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

Revenue Growth

56th percentile

11%

Faster revenue growth than 56% of similar nonprofits.

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

Assets

Up

$1,746,552

Up $64,958 (+3.9%) from 2023

Liabilities

Up

$28,226

Up $8,243 (+41%) from 2023

Net Assets

Up

$1,718,326

Up $56,715 (+3.4%) from 2023

Revenue

Up

$1,600,695

Up $155,679 (+11%) from 2023

Expenses

Up

$1,625,271

Up $19,609 (+1.2%) from 2023

Net Income

Up

-$24,576

Up $136,070 (+85%) from 2023

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $252,634Liabilities 2011: $1,133Net Assets 2011: $251,5012011Assets 2012: $226,704Liabilities 2012: $442Net Assets 2012: $226,2622012Assets 2013: $192,994Liabilities 2013: $1,926Net Assets 2013: $191,0682013Assets 2014: $231,818Liabilities 2014: $0Net Assets 2014: $231,8182014Assets 2015: $279,414Liabilities 2015: $5,795Net Assets 2015: $273,6192015Assets 2016: $343,408Liabilities 2016: $6,264Net Assets 2016: $337,1442016Assets 2017: $980,424Liabilities 2017: $0Net Assets 2017: $980,4242017Assets 2018: $1,079,348Liabilities 2018: $1,425Net Assets 2018: $1,077,9232018Assets 2019: $1,146,768Liabilities 2019: $11,935Net Assets 2019: $1,134,8332019Assets 2020: $1,342,472Liabilities 2020: $23,002Net Assets 2020: $1,319,4702020Assets 2021: $1,853,930Liabilities 2021: $17,368Net Assets 2021: $1,836,5622021Assets 2022: $1,801,300Liabilities 2022: $24,073Net Assets 2022: $1,777,2272022Assets 2023: $1,681,594Liabilities 2023: $19,983Net Assets 2023: $1,661,6112023Assets 2024: $1,746,552Liabilities 2024: $28,226Net Assets 2024: $1,718,3262024

Highlighted filing

2024

Assets$1,746,552
Liabilities$28,226
Net Assets$1,718,326

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $302,633Expenses 2011: $321,615Net Income 2011: -$18,9822011Revenue 2012: $287,172Expenses 2012: $312,411Net Income 2012: -$25,2392012Revenue 2013: $289,313Expenses 2013: $327,044Net Income 2013: -$37,7312013Revenue 2014: $684,282Expenses 2014: $645,458Net Income 2014: $38,8242014Revenue 2015: $422,955Expenses 2015: $381,154Net Income 2015: $41,8012015Revenue 2016: $626,002Expenses 2016: $562,477Net Income 2016: $63,5252016Revenue 2017: $583,201Expenses 2017: $604,246Net Income 2017: -$21,0452017Revenue 2018: $674,611Expenses 2018: $640,996Net Income 2018: $33,6152018Revenue 2019: $736,473Expenses 2019: $704,009Net Income 2019: $32,4642019Revenue 2020: $1,045,328Expenses 2020: $911,987Net Income 2020: $133,3412020Revenue 2021: $1,138,687Expenses 2021: $849,173Net Income 2021: $289,5142021Revenue 2022: $1,443,994Expenses 2022: $1,359,309Net Income 2022: $84,6852022Revenue 2023: $1,445,016Expenses 2023: $1,605,662Net Income 2023: -$160,6462023Revenue 2024: $1,600,695Expenses 2024: $1,625,271Net Income 2024: -$24,5762024

Highlighted filing

2024

Revenue$1,600,695
Expenses$1,625,271
Net Income-$24,576

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$0.03$1.72$1.60$1.63$0.02
2023Summary only. Only limited summary data is available for this year.$1.68$0.02$1.66$1.45$1.61$0.16
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.80$0.02$1.78$1.44$1.36$0.08
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$0.02$1.84$1.14$0.85$0.29
2020Summary only. Only limited summary data is available for this year.$1.34$0.02$1.32$1.05$0.91$0.13
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.01$1.13$0.74$0.70$0.03
2018Summary only. Only limited summary data is available for this year.$1.08$0.00$1.08$0.67$0.64$0.03
2017Summary only. Only limited summary data is available for this year.$0.98$0.00$0.98$0.58$0.60$0.02
2016Summary only. Only limited summary data is available for this year.$0.34$0.01$0.34$0.63$0.56$0.06
2015Summary only. Only limited summary data is available for this year.$0.28$0.01$0.27$0.42$0.38$0.04
2014Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.68$0.65$0.04
2013Summary only. Only limited summary data is available for this year.$0.19$0.00$0.19$0.29$0.33$0.04
2012Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.29$0.31$0.03
2011Summary only. Only limited summary data is available for this year.$0.25$0.00$0.25$0.30$0.32$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 16, 2025
Return Version
2023v6.0
Gross Receipts
$1,648,246
Mission and Program Overview

Mission

Supporting underrepresented pierce county students of color to overcome financial, cultural, and social barriers in their pursuit of higher education. Our vision is for our students to succeed in graduating from college with the essential tools to be catalysts for change, leaders in our community, and become personally empowered.

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$365,193$399,258▲ $34,065
Pledges and Grants Receivable$197,239$337,358▲ $140,119
Cash and Non-Interest-Bearing Accounts$347,698$188,020▼ $159,678
Land, Buildings, and Equipment, Net$47,795$39,641▼ $8,154
Prepaid Expenses and Deferred Charges$20,904$30,684▲ $9,780
Total Assets$1,681,594$1,746,552▲ $64,958
Other Assets Total$702,765$751,591▲ $48,826
Liabilities
Accounts Payable and Accrued Expenses$19,983$28,226▲ $8,243
Total Liabilities$19,983$28,226▲ $8,243
Net Assets / Fund Balance
Net Assets With Donor Restrictions$788,601$889,591▲ $100,990
Net Assets Without Donor Restrictions$873,010$828,735▼ $44,275
Total Net Assets Fund Balance$1,661,611$1,718,326▲ $56,715
Total Liabilities and Net Assets / Fund Balance$1,681,594$1,746,552▲ $64,958

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$39,641$39,365$79,006
Other Assets Org$751,591--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$702,765-▲ $86,250-$751,590
2022$684,774-▲ $54,935-$702,765
2021$794,020-▼ $73,193-$684,774
2020$633,266-▲ $201,574-$794,020
2019$657,756-▲ $8,899-$633,266
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jonathan JacksonCEO(through 12/2023)FT$154,173$11,789$165,962
Denise Nicole FranklinInterim CEO (12/23-05/24)FT$92,592$8,504$101,096

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,587,074
Program Service Revenue
$21,530
Investment Income
$38,649
Other Revenue
$-46,558
All Other Contributions
$879,116
Change in Net Assets
$-24,576
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$944,341
Other Expenses$344,398
Grants and Similar Amounts Paid$300,887
Total Fundraising Expense$223,257
Professional Fundraising Fees$35,645

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$462,869$38,325$108,029$609,223
Grants to Domestic Individuals$300,887--$300,887
Current Officers, Directors, Trustees, and Key Employees$128,073$35,207$27,123$190,403
Other Employee Benefits$51,056$9,185$19,168$79,409
Payroll Taxes$46,074$5,623$10,554$62,251
Advertising$24,010$2,930$9,239$36,179
Fees for Services Professional Fundraising--$35,645$35,645
Information Technology$22,088$2,696$5,060$29,844
Office Expenses$14,560$2,969$4,381$21,910
Other Expenses$19,078$13,802-$13,802
Fees for Services Other-$12,794-$12,794
Depreciation Depletion$8,891$1,085$2,037$12,013
Fees for Service Investment Mgmnt Fees-$6,925-$6,925
Conferences and Meetings$4,744$579$1,087$6,410
Insurance-$6,149-$6,149
Fees for Services Accounting-$5,410-$5,410
Pension Plan Contributions$2,121-$934$3,055
Fees for Services Legal-$1,958-$1,958
Travel-$1,202-$1,202
All Other Expenses-$678-$678
Total Functional Expenses$1,254,497$147,517$223,257$1,625,271
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$47,551
Professional Fundraising Fees$35,645
Fundraising Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Stand Up & Cheer$121,359-$13,615-
Total Events$121,359-$47,551$-47,551
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
Backup withholding compliance
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
Yes
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

Form 990 is reviewed by the foundation's chief executive officer and or treasurer, and is then delivered to all foundation board members for review and discussion prior to filing.

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

The conflict of interest policy is reviewed by the board of directors annually. When an appearance of conflict is possible, it is disclosed and the board member absents himself/herself from discussion and voting. Any such occasions are reflected in the board minutes.

Form 990, Part VI, Section B, Line 15A

Chief executive officer compensation is determined after board review of third party compensation data related to equivalent positions and comparably sized organizations. Board deliberation and consideration is documented in board meeting minutes. The process described here was last completed in 2023. The entity has no officer other than executive director.

Form 990, Part VI, Section C, Line 19

Copies of the form 990, financial statemetns, and form 1023 are available for mailing to the general public upon request. In addition, the foundation offices are open monday-friday, 9am-5pm. Documents are available for public insprection at these time by arrangement.

Filing and Contact Details

Filer

Filer Name
R Merle Palmer Minority Scholarship
EIN
91-1742581
Phone
2535729008
Address
PO BOX 7119, TACOMA, WA 98417
Doing Business As
Palmer Scholars

Signing Officer

Name
Tricia Speid
Title
CEO
Phone
2535729008
Signed
2025-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tricia Speid
Formed
1996
Legal Domicile
Wa
Voting Board Members
15
Independent Board Members
15
Employees
21
Volunteers
75

Preparer

Firm
Cliftonlarsonallen Llp
Address
10700 NORTHUP WAY SUITE 200, BELLEVUE, WA 98004
Preparer
Allen Gilbert CPA
Phone
4252506100
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1,

Supporting underrepresented pierce county students of color to overcome financial, cultural, and social barriers in their pursuit of higher education. Our vision is for our students to succeed in graduating from college with the essential tools to be catalysts for change, leaders in our community, and become personally empowered.

Form 990, Part III, Line 1,

Supporting underrepresented pierce county students of color to overcome financial, cultural, and social barriers in their pursuit of higher education. Our vision is for our students to succeed in graduating from college with the essential tools to be catalysts for change, leaders in our community, and become personally empowered.

Financial Statement Notes

PART V, LINE 4:

The organization uses the annual endowment disbursement to provide scholarship monies to students. The corpus of any undistributed earning is used as a contngency plan to pay out the remaining scholarship payments to students as they finish college, should the organization cease to exist.

Raw XML AppendixShowing 400 of 618 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/AdvertisingGrp/FundraisingAmt09239
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