Nonprofit · EIN 20-8120758
PALO FOUNDATION INC
Tax-exempt · DUBOIS, PA 15801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990-PF | $4,053 | $30,000 | -$25,947 | $53,823 | $0 | $53,823 |
| June 30, 2024 | 990-PF | $103,253 | $36,000 | $67,253 | $79,770 | $0 | $79,770 |
Financial details: 990-PF for the year ended June 30, 2025
Revenue
- Interest
- $4,053
Expenses
- Grants and similar amounts paid
- $30,000
- Disbursements for charitable purposes
- $30,000
- Excise tax on investment income
- $56
Balance sheet and other
- Total assets, start of year
- $79,770
- Total assets, end of year
- $53,823
- Total liabilities, end of year
- $0
- Net assets, end of year
- $53,823
- Fair market value of assets
- $53,823
- Qualifying distributions
- $30,000
- Net investment income
- $4,053
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL A PALO PO BOX 368, CLARION, PA 16214 | President | 1 | $0 |
| R LEO FERRARO CPA 75 LARSEN DRIVE, DUBOIS, PA 15801 | Treasurer | 0 | $0 |
| H MARK SCHAFFER PO BOX 368, CLARION, PA 16214 | Director | 1 | $0 |
| PAUL A ROMAN PO BOX 368, CLARION, PA 16214 | Director | 1 | $0 |
990-PF for the year ended June 30, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL A PALO PO BOX 368, CLARION, PA 16214 | President | 1 | $0 |
| R LEO FERRARO CPA 75 LARSEN DRIVE, DUBOIS, PA 15801 | Treasurer | 0 | $0 |
| H MARK SCHAFFER PO BOX 368, CLARION, PA 16214 | Director | 1 | $0 |
| PAUL A ROMAN PO BOX 368, CLARION, PA 16214 | Director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 75 LARSEN DR, DUBOIS, PA 15801-3987
- In care of
- % CLYDE FERRARO & CO LLP
- Signed the 990-PF
- MICHAEL A PALO, President
- Return prepared by
- Clyde Ferraro & Co LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990-PF on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990-PF on file |
IRS record
- EIN
- 20-8120758
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2007
- Accounting year ends
- June
- Files
- Form 990-PF
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $53,823
- Income (IRS master file)
- $4,053
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | June 2025 | $4,053 | $30,000 | $53,823 | XML |
| 990-PF | June 2024 | $103,253 | $36,000 | $79,770 | XML |
| 990-PF | June 2023 | – | – | – | IRS |
| 990-PF | June 2022 | – | – | – | IRS |
| 990-PF | June 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-8120758).
Questions about PALO FOUNDATION INC
- What is the EIN of PALO FOUNDATION INC?
- The employer identification number (EIN) of PALO FOUNDATION INC is 20-8120758.
- Is PALO FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to PALO FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does PALO FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of PALO FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PALO FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended June 2025.
- Who are the officers and directors of PALO FOUNDATION INC?
- The 990-PF for the year ended June 30, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does PALO FOUNDATION INC have?
- On its 990-PF for the year ended June 30, 2025 it reported revenue of $4,053, expenses of $30,000 and total assets of $53,823 at year end.
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