PALM UNIVERSITY FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

MATTHEW STORER

Phone

5037782119

Tax Period

2022-07-01 to 2023-06-30

PALM UNIVERSITY FOUNDATION, founded in 2006, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $118K in total revenue in fiscal year 2022. Revenue fell 58% from the prior year — a significant decline worth monitoring.

Mission

NAPE FOUNDATION PROVIDES AN INCREASE IN HIGHER EDUCATIONAL OPPORTUNITIES TO GHANAIANS TO ENHANCE AND PROMOTE THEIR WELL BEING AND COMMUNITY AT LARGE.

Program Service Accomplishments

Program 1

PALM INSTITUTE COMPLETED CONSTRUCTION ON ITS FIRST ON-CAMPUS STUDENT DORMATORY WHICH WILL HOUSE 32 FULL-TIME CAMPUS STUDENTS, WHICH WAS FUNDED BY GRANTS FROM NAPE FOUNDATION. STUDENTS ARE NOW...

PALM INSTITUTE COMPLETED CONSTRUCTION ON ITS FIRST ON-CAMPUS STUDENT DORMATORY WHICH WILL HOUSE 32 FULL-TIME CAMPUS STUDENTS, WHICH WAS FUNDED BY GRANTS FROM NAPE FOUNDATION. STUDENTS ARE NOW OCCUPYING THE DORMATORY FOR THE CURRENT ACADEMIC YEAR.

Program 2

Expenses: $113,262

DURING THE YEAR, THIRTY-FOUR (34) NEW STUDENTS WERE ADMITTED INTO THE PALM UNVERSITY FUNDED BY SCHOLARSHIPS PROVIDED BY PALMU UNVERSITY FOUNDATION, WHICH BROUGHT THE OVERALL STUDENT NUMBER TO SIXTY...

Program 3

PLAM UNIVERSITY GREW OUR RELATIONSHIPS WITH U.S.A. INSTITUTIONAL PARTNERS DURING THE YEAR BY HOSTED STUDENTS FROM THE UNIVERSITY OF ALABAMA AND WEST CHESTER UNIVERSITY FOR THEIR SOCIAL WORK...

PLAM UNIVERSITY GREW OUR RELATIONSHIPS WITH U.S.A. INSTITUTIONAL PARTNERS DURING THE YEAR BY HOSTED STUDENTS FROM THE UNIVERSITY OF ALABAMA AND WEST CHESTER UNIVERSITY FOR THEIR SOCIAL WORK PRACTICUMS, WHICH ARE PARTIALLY ENABLED BY GRANT FUNDING PROVIDED BY PALM UNIVERSITY FOUNDATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $117,676

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $117,676

Expense Breakdown

Grants Paid $113,262

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $113,262

Other Expenses $6,167

TOTAL EXPENSES $119,429

Year-over-Year Comparison

	2022	2021	Change
Revenue	$117,676	$280,845	-0.6%
Expenses	$119,429	$280,297	-0.6%
Net Income	$-1,753	$548	-4.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER OKANTEY	PRESIDENT	5.00	Officer Director	$0	$0	$0
MATTHEW STORER	CHAIRMAN	3.00	Officer Director	$0	$0	$0
BETH OKANTEY	SECRETARY	2.00	Officer Director	$0	$0	$0
PATRICK DJAN-SAMPSON	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW ESSIEH	DIRECTOR	1.00	Director	$0	$0	$0
BRENDA MCLAUGHLIN	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA AKOSUA ASANTE-FREMPONG	DIRECTOR	1.00	Director	$0	$0	$0
STEPHAN WILSON	DIRECTOR	1.00	Director	$0	$0	$0
ADAMS APPIAH	DIRECTOR	1.00	Director	$0	$0	$0
OSCAR RODRIGUEZ	DIRECTOR	1.00	Director	$0	$0	$0
EUGENE OSEI BONSU	DIRECTOR	1.00	Director	$0	$0	$0
JON PEDERSEN	DIRECTOR	1.00	Director	$0	$0	$0
CHARLOTTE BURNN	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH ATATSI	DIRECTOR	1.00	Director	$0	$0	$0
KANEISHA BAILEY	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL AIDOO	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$117,676	$119,429	$1,195	$-1,753
2022	$280,845	$280,297	$2,948	$548
2021	$111,985	$109,614	$2,400	$2,371