Nonprofit · EIN 36-4171713
FLORENCE B & CORNELIA A PALMER FOUNDATION
Tax-exempt · ELGIN, IL 60120
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $134,929 | $283,535 | -$148,606 | $961,878 | $0 | $961,878 |
| December 31, 2023 | 990-PF | $54,106 | $221,478 | -$167,372 | $1,111,284 | $0 | $1,111,284 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $28,950
- Net gain from sales of assets
- $105,904
- Other income
- $75
Expenses
- Grants and similar amounts paid
- $97,500
- Compensation of officers, directors and key employees
- $175,000
- Disbursements for charitable purposes
- $262,438
- Excise tax on investment income
- $409
Balance sheet and other
- Total assets, start of year
- $1,111,284
- Total assets, end of year
- $961,878
- Total liabilities, end of year
- $0
- Net assets, end of year
- $961,878
- Fair market value of assets
- $1,149,937
- Qualifying distributions
- $262,438
- Net investment income
- $50,495
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FREDERICK J STEFFEN 838 DOUGLAS AVE, ELGIN, IL 60120 | CO-TRUSTEE A | 25 | $125,000 |
| ROBERT STEFFEN 15 OLYMPIC DRIVE, SOUTH BARRINGTON, IL 60010 | CO-TRUSTEE | 1 | $25,000 |
| DONALD HOPP 1109 HIDDEN SPRING, NAPERVILLE, IL 60540 | CO-TRUSTEE | 4 | $25,000 |
990-PF for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FREDERICK J STEFFEN 838 DOUGLAS AVE, ELGIN, IL 60120 | CO-TRUSTEE A | 25 | $100,000 |
| DONALD HOPP 1109 HIDDEN SPRING, NAPERVILLE, IL 60540 | CO-TRUSTEE | 12 | $25,000 |
| ROBERT STEFFEN 15 OLYMPIC DRIVE, SOUTH BARRINGTON, IL 60010 | CO-TRUSTEE | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 17 DOUGLAS AVE, ELGIN, IL 60120-5502
- In care of
- % FREDERICK J STEFFEN
- Signed the 990-PF
- FREDERICK J STEFFEN, CO-TRUSTEE AND E.D.
- Phone
- (847) 741-0503
- Return prepared by
- HOPP ACCOUNTING & TAX SERVICE PC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 36-4171713
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible
- No
- Exempt since
- 1998
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T99Z)
- Assets (IRS master file)
- $961,878
- Income (IRS master file)
- $586,238
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $134,929 | $283,535 | $961,878 | IRS |
| 990-PF | December 2023 | $54,106 | $221,478 | $1,111,284 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | 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 36-4171713).
Questions about FLORENCE B & CORNELIA A PALMER FOUNDATION
- What is the EIN of FLORENCE B & CORNELIA A PALMER FOUNDATION?
- The employer identification number (EIN) of FLORENCE B & CORNELIA A PALMER FOUNDATION is 36-4171713.
- Is FLORENCE B & CORNELIA A PALMER FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to FLORENCE B & CORNELIA A PALMER FOUNDATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does FLORENCE B & CORNELIA A PALMER FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of FLORENCE B & CORNELIA A PALMER FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FLORENCE B & CORNELIA A PALMER FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of FLORENCE B & CORNELIA A PALMER FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 3 people; 3 received compensation from the organization, the highest $125,000 (FREDERICK J STEFFEN, CO-TRUSTEE A).
- How much revenue does FLORENCE B & CORNELIA A PALMER FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $134,929, expenses of $283,535 and total assets of $961,878 at year end.
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