Palmer Museum Of History And Art
Palmer Museum Of History And Art faces recurring deficits and fluctuating asset levels.
EIN: 203297367 · Palmer, AK · NTEE: A84 · Updated: 2026-03-28
Is Palmer Museum Of History And Art Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Palmer Museum Of History And Art directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Palmer Museum Of History And Art
Palmer Museum Of History And Art (EIN: 203297367) is a nonprofit organization based in Palmer, AK, classified under NTEE code A84. The organization reported total revenue of $288K and total assets of $96K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palmer Museum Of History And Art's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Palmer Museum Of History And Art is a small nonprofit that has been operating for 20 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $197K |
| Total Expenses | $239K |
| Surplus / Deficit | $-42,744 |
| Total Assets | $15K |
| Total Liabilities | $166 |
| Net Assets | $15K |
| Operating Margin | -21.7% |
| Debt-to-Asset Ratio | 1.1% |
| Months of Reserves | 0.7 months |
Financial Health Grade: C
In 2023, Palmer Museum Of History And Art reported a deficit of $43K with expenses exceeding revenue, holds 0.7 months of operating reserves (limited), has a debt-to-asset ratio of 1.1% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), Palmer Museum Of History And Art's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -25.1% | -8.9% | -77.7% |
| 2022 | +42.0% | +28.2% | -14.6% |
| 2021 | -19.9% | -3.5% | +29.9% |
| 2019 | -1.4% | +2.4% | +38.2% |
| 2018 | +16.9% | +0.2% | +56.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Palmer Museum Of History And Art with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Palmer Museum Of History And Art allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $43K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either unpaid or compensated through non-officer roles, which is highly favorable for a nonprofit of this size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Palmer Museum Of History And Art's IRS 990 filings:
- Expenses consistently exceeding revenue in recent periods (e.g., 202312, 202212, 202112).
- Significant drop in reported assets from $96,410 to $14,948 in the 202312 filing.
- Lack of detailed spending breakdown (program, admin, fundraising) in provided summary data makes efficiency assessment difficult.
Strengths
The following positive indicators were identified for Palmer Museum Of History And Art:
- Consistent filing of IRS Form 990s over 12 periods, demonstrating transparency and compliance.
- 0% reported officer compensation across all filings, indicating a lean executive cost structure.
- Long-term growth in assets from $5,643 in 201512 to $96,410 (latest overall reported asset value).
Frequently Asked Questions about Palmer Museum Of History And Art
Is Palmer Museum Of History And Art a legitimate charity?
Based on AI analysis of IRS 990 filings, Palmer Museum Of History And Art (EIN: 203297367) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Palmer Museum Of History And Art spend its money?
Palmer Museum Of History And Art directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Palmer Museum Of History And Art tax-deductible?
Palmer Museum Of History And Art is registered as a tax-exempt nonprofit (EIN: 203297367). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Palmer Museum Of History And Art financially stable?
The organization shows signs of financial instability, with expenses exceeding revenue in multiple recent periods (e.g., 202312, 202212, 202112) and a significant drop in assets from $96,410 to $14,948 in the 202312 period.
How does the organization manage its liabilities?
Liabilities have fluctuated, reaching $20,661 in 202112 and $21,553 in 201812, but were reported as very low ($166) in 202312, which could indicate effective management or a shift in financial structure.
What is the trend in the organization's assets?
Assets have generally grown over the long term, from $5,643 in 201512 to $96,410 in the latest overall data, but experienced a sharp decline to $14,948 in the 202312 filing, warranting further investigation.
Filing History
IRS 990 filing history for Palmer Museum Of History And Art showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Palmer Museum Of History And Art's revenue has grown by 57.3%, moving from $125K to $197K. Total assets decreased by 42.7% over the same period, from $26K to $15K. Total functional expenses rose by 95.5%, from $122K to $239K. In its most recent filing year (2023), Palmer Museum Of History And Art reported a deficit of $43K, with expenses exceeding revenue. The organization holds $166 in liabilities against $15K in assets (debt-to-asset ratio: 1.1%), resulting in net assets of $15K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $197K | $239K | $15K | $166 | — | View 990 |
| 2022 | $263K | $263K | $67K | $10K | — | — |
| 2021 | $185K | $205K | $79K | $21K | — | View 990 |
| 2019 | $231K | $212K | $60K | $20K | — | View 990 |
| 2018 | $234K | $207K | $44K | $22K | — | View 990 |
| 2017 | $200K | $207K | $28K | $33K | — | View 990 |
| 2016 | $179K | $168K | $16K | $14K | — | View 990 |
| 2015 | $170K | $182K | $6K | $14K | — | View 990 |
| 2014 | $177K | $185K | $11K | $8K | — | View 990 |
| 2013 | $144K | $152K | $14K | $2K | — | View 990 |
| 2012 | $149K | $155K | $20K | $1K | — | View 990 |
| 2011 | $125K | $122K | $26K | $665 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $197K, expenses of $239K, and assets of $15K (revenue -25.1% year-over-year).
- 2022: Revenue of $263K, expenses of $263K, and assets of $67K (revenue +42.0% year-over-year).
- 2021: Revenue of $185K, expenses of $205K, and assets of $79K (revenue -19.9% year-over-year).
- 2019: Revenue of $231K, expenses of $212K, and assets of $60K (revenue -1.4% year-over-year).
- 2018: Revenue of $234K, expenses of $207K, and assets of $44K (revenue +16.9% year-over-year).
- 2017: Revenue of $200K, expenses of $207K, and assets of $28K (revenue +12.1% year-over-year).
- 2016: Revenue of $179K, expenses of $168K, and assets of $16K (revenue +4.9% year-over-year).
- 2015: Revenue of $170K, expenses of $182K, and assets of $6K (revenue -3.5% year-over-year).
- 2014: Revenue of $177K, expenses of $185K, and assets of $11K (revenue +22.2% year-over-year).
- 2013: Revenue of $144K, expenses of $152K, and assets of $14K (revenue -2.8% year-over-year).
- 2012: Revenue of $149K, expenses of $155K, and assets of $20K (revenue +18.9% year-over-year).
- 2011: Revenue of $125K, expenses of $122K, and assets of $26K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Palmer Museum Of History And Art:
Data Sources and Methodology
This transparency report for Palmer Museum Of History And Art is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.