Nonprofit · EIN 46-4896381
PALMA SCHOOL FOUNDATION
Tax-exempt (reinstated) · SALINAS, CA 93908
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,592,664 | $2,253,611 | $339,053 | $2,832,129 | $0 | $2,832,129 |
| December 31, 2023 | 990 | $292,145 | $110,227 | $181,918 | $2,486,871 | $0 | $2,486,871 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,466,231
- Program service revenue
- $0
- Investment income
- $126,433
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $2,181,088
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $525
- Accounting fees
- $1,950
- Program services (functional)
- $2,181,789
- Management and general (functional)
- $10,963
- Fundraising (functional)
- $60,859
Balance sheet and other
- Total assets, start of year
- $2,486,871
- Total assets, end of year
- $2,832,129
- Total liabilities, end of year
- $0
- Net assets, end of year
- $2,832,129
- Gross receipts
- $2,592,664
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2013
- State of legal domicile
- CA
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 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATTHEW OTTONE | PRESIDENT Trustee or director, Officer | 2 | $0 |
| JOHN MAZZEI | SECRETARY Trustee or director, Officer | 1 | $0 |
| JOHN MCCARTHY | DIRECTOR Trustee or director | 1 | $0 |
| AMY HAAS | DIRECTOR Trustee or director | 1 | $0 |
| KIM COSTA | DIRECTOR Trustee or director | 1 | $0 |
| MARK CLIFTON | DIRECTOR Trustee or director | 1 | $0 |
| GINA COCHETTI | TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATTHEW OTTONE | PRESIDENT Trustee or director, Officer | 2 | $0 |
| JOHN MAZZEI | SECRETARY Trustee or director, Officer | 1 | $0 |
| PHIL TRINGALI | DIRECTOR Trustee or director | 1 | $0 |
| JOHN MCCARTHY | DIRECTOR Trustee or director | 1 | $0 |
| AMY HAAS | DIRECTOR Trustee or director | 1 | $0 |
| KIM COSTA | DIRECTOR Trustee or director | 1 | $0 |
| MARK CLIFTON | DIRECTOR Trustee or director | 1 | $0 |
| GINA COCHETTI | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1418 S MAIN ST STE 203, SALINAS, CA 93908-8834
- In care of
- % MATTHEW OTTONE
- Mailing address (990-N for 2019)
- 295 Main Street Suite 600, Salinas CA 93901
- Principal officer (990 for 2024)
- MATTHEW OTTONE, 1418 SOUTH MAIN STREETSTE 203, SALINAS, CA 93908
- Principal officer (990-N for 2019)
- Matthew Ottone, 295 Main Street Suite 600, Salinas CA 93901
- Signed the 990
- MATTHEW OTTONE, PRESIDENT
- Phone
- (831) 758-2401
- Return prepared by
- BIANCHI KASAVAN & POPE LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 46-4896381 or by the name PALMA SCHOOL FOUNDATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
THE MISSION OF THE PALMA SCHOOL FOUNDATION IS TO FINANCIALLY SUPPORT THE EDUCATIONAL PROGRAMS AND MISSION OF PALMA SCHOOL FOR THE BENEFIT OF ITS STUDENTS AND COMMUNITY CONSISTENT WITH THE SCHOOLS MISSION TO PROVIDE YOUNG MEN AN EXCELLENT COLLEGE PREPARATIORY EDUCATION IN A ROMAN CATHOLIC ENVIRONMENT THAT EMBRACES THE ESSENTIAL ELEMENTS OF AN EDMUND RICE CHRISTIAN BROTHER EDUCATION AND CHALLENGES EACH INDIVIDUAL TO DEVELOP SPIRITUALLY, INTELLECTUALLY, MORALLY, PHYSICALLY, AND SOCIALLY.
Program accomplishments
- PALMA SCHOOL SUBMITS GRANT APPLICATIONS FOR FUNDS FROM THE FOUNDATIONS FOR SPECIFIC PROGRAMS, THE TUITION ASSISTANCE FUND, FACILITIES AND OTHER USES. THE FOUNDATION BOARD MEETS TO REVIEW THE GRANT APPLICATION TO DETERMINE WHETHER THE FUNDS WILL BE USED CONSISTENT WITH THE SCHOOL'S BUDGET AND WITH THE FOUNDATION'S GRANTING GUIDELINES.Expenses $2,181,789 · grants $2,181,088
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-4896381
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $2,832,129
- Income (IRS master file)
- $2,592,664
Revocation and reinstatement
- Exemption revoked
- May 15, 2019
- Posted by the IRS
- August 12, 2019
- Reinstated
- Effective May 15, 2019
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,592,664 | $2,253,611 | $2,832,129 | XML |
| 990 | December 2023 | $292,145 | $110,227 | $2,486,871 | XML |
| 990 | December 2022 | $587,205 | $21,388 | $2,304,953 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-N for 2019 Officer: Matthew Ottone | December 31, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
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 46-4896381).
Questions about PALMA SCHOOL FOUNDATION
- What is the EIN of PALMA SCHOOL FOUNDATION?
- The employer identification number (EIN) of PALMA SCHOOL FOUNDATION is 46-4896381.
- Is PALMA SCHOOL FOUNDATION tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2019 and reinstated it effective May 15, 2019.
- Are donations to PALMA SCHOOL FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PALMA SCHOOL FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PALMA SCHOOL 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 PALMA SCHOOL FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PALMA SCHOOL FOUNDATION?
- The 990 for the year ended December 31, 2024 names MATTHEW OTTONE.
- Who are the officers and directors of PALMA SCHOOL FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does PALMA SCHOOL FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,592,664, expenses of $2,253,611 and total assets of $2,832,129 at year end.
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