Palomar Health Development Inc

Palomar Health Development Inc. consistently operates with revenues closely matching expenses, reporting no officer compensation.

EIN: 202356830 · Escondido, CA · Updated: 2026-03-28

$3.6MRevenue

$1.5MAssets

75/100Mission Score (Good)

About Palomar Health Development Inc

Palomar Health Development Inc (EIN: 202356830) is a nonprofit organization based in Escondido, CA. The organization reported total revenue of $3.6M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palomar Health Development Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Palomar Health Development Inc. demonstrates consistent financial activity over the past decade, with revenues generally hovering around $3.5 million to $4.5 million and expenses closely tracking revenue. For the latest period (202306), the organization reported revenues of $3,663,771 against expenses of $3,486,516, indicating a modest surplus. The organization's assets have shown a positive trend, increasing from $1,796,179 in 2014 to $2,871,867 in 2023, while liabilities have fluctuated but generally remained substantial, often exceeding assets in earlier years. A notable aspect is the consistent reporting of 0% officer compensation across all available filings, which suggests either volunteer leadership or compensation being reported under different categories, warranting further investigation for complete transparency. The NTEE code is unknown, which can sometimes hinder a clear understanding of its specific programmatic focus without deeper analysis of its activities.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Palomar Health Development Inc 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: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Palomar Health Development Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size and revenue, suggesting either a fully volunteer leadership or compensation being categorized differently.

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 Palomar Health Development Inc's IRS 990 filings:

Unknown NTEE code, hindering clear understanding of mission alignment.
Consistent 0% officer compensation, which may warrant further inquiry into how leadership is compensated or structured.

Strengths

The following positive indicators were identified for Palomar Health Development Inc:

Consistent revenue generation and expense management over a decade.
Positive trend in asset growth, increasing from $1,796,179 in 2014 to $2,871,867 in 2023.
Revenues consistently exceed expenses, indicating financial stability (e.g., 202306: Revenue $3,663,771 vs. Expenses $3,486,516).

Frequently Asked Questions about Palomar Health Development Inc

Is Palomar Health Development Inc. a good charity?

Based on the available data, the organization appears financially stable with revenues consistently covering expenses. The reported 0% officer compensation is a positive indicator of resource allocation, assuming all compensation is accurately reported or leadership is indeed volunteer. However, without a clear NTEE code or detailed program spending breakdown, it's challenging to fully assess its programmatic impact.

How does Palomar Health Development Inc. manage its liabilities?

Liabilities have historically been significant, sometimes exceeding assets, such as in 202006 where liabilities were $2,814,455 against assets of $2,358,649. However, in the latest period (202306), assets ($2,871,867) exceeded liabilities ($2,445,659), indicating an improvement in its financial position.

What is the trend in Palomar Health Development Inc.'s financial health?

The organization shows consistent revenue generation and expense management. Assets have generally increased over the decade, from $1,796,179 in 2014 to $2,871,867 in 2023, while liabilities have become more manageable relative to assets in recent years, suggesting improving financial health.

Filing History

IRS 990 filing history for Palomar Health Development Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Palomar Health Development Inc's revenue has grown by 13.4%, moving from $3.2M to $3.7M. Total assets increased by 130.3% over the same period, from $1.2M to $2.9M. Total functional expenses rose by 35.6%, from $2.6M to $3.5M. In its most recent filing year (2023), Palomar Health Development Inc reported a surplus of $177K, with revenue exceeding expenses. The organization holds $2.4M in liabilities against $2.9M in assets (debt-to-asset ratio: 85.2%), resulting in net assets of $426K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.7M	$3.5M	$2.9M	$2.4M	—	View 990
2022	$3.6M	$3.4M	$2.8M	$2.5M	—	View 990
2021	$3.8M	$3.3M	$2.5M	$2.4M	—	View 990
2020	$3.5M	$3.3M	$2.4M	$2.8M	—	View 990
2019	$3.6M	$3.4M	$2.3M	$2.9M	—	View 990
2018	$3.6M	$3.5M	$2.1M	$2.9M	—	View 990
2017	$3.5M	$3.4M	$2.1M	$3.0M	—	View 990
2016	$3.9M	$3.4M	$1.9M	$3.0M	—	View 990
2015	$4.5M	$4.4M	$2.1M	$3.8M	—	View 990
2014	$4.4M	$4.1M	$1.8M	$3.6M	—	View 990
2013	$3.9M	$3.9M	$1.3M	$3.4M	—	View 990
2012	$3.3M	$3.2M	$1.6M	$3.6M	—	View 990
2011	$3.2M	$2.6M	$1.2M	$3.5M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.7M, expenses of $3.5M, and assets of $2.9M (revenue +1.7% year-over-year).
2022: Revenue of $3.6M, expenses of $3.4M, and assets of $2.8M (revenue -4.5% year-over-year).
2021: Revenue of $3.8M, expenses of $3.3M, and assets of $2.5M (revenue +8.3% year-over-year).
2020: Revenue of $3.5M, expenses of $3.3M, and assets of $2.4M (revenue -2.4% year-over-year).
2019: Revenue of $3.6M, expenses of $3.4M, and assets of $2.3M (revenue -0.7% year-over-year).
2018: Revenue of $3.6M, expenses of $3.5M, and assets of $2.1M (revenue +1.3% year-over-year).
2017: Revenue of $3.5M, expenses of $3.4M, and assets of $2.1M (revenue -9.0% year-over-year).
2016: Revenue of $3.9M, expenses of $3.4M, and assets of $1.9M (revenue -13.2% year-over-year).
2015: Revenue of $4.5M, expenses of $4.4M, and assets of $2.1M (revenue +2.0% year-over-year).
2014: Revenue of $4.4M, expenses of $4.1M, and assets of $1.8M (revenue +12.7% year-over-year).
2013: Revenue of $3.9M, expenses of $3.9M, and assets of $1.3M (revenue +17.3% year-over-year).
2012: Revenue of $3.3M, expenses of $3.2M, and assets of $1.6M (revenue +3.1% year-over-year).
2011: Revenue of $3.2M, expenses of $2.6M, and assets of $1.2M.

Data Sources and Methodology

This transparency report for Palomar Health Development Inc 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.