PALM INC (EIN 382603689) - Form 990 Financial Analysis & Trantor Score

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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

1984

Legal Domicile

Phone

7346690172

Tax Period

2024-11-01 to 2025-10-31

PALM INC, founded in 1984, is a small nonprofit that reported $121K in total revenue in fiscal year 2024. Expenses of $110K left a modest 9% surplus.

Mission

PROMOTE, ORGANIZE AND SPONSOR A MULTI-DAY RIDE ACROSS LOWER MICHIGAN

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $121,080

Investment Income $0

Other Revenue $0

TOTAL REVENUE $121,080

Expense Breakdown

Grants Paid $721

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $106,292

Other Expenses $109,437

TOTAL EXPENSES $110,158

Year-over-Year Comparison

	2024	2023	Change
Revenue	$121,080	$126,924	0.0%
Expenses	$110,158	$104,850	+0.1%
Net Income	$10,922	$22,074	-0.5%

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

N/A

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
ANDY VAST BINDER	MEMBER AT LARGE	1.00	Director	$0	$0	$0
PAUL LAROSE	CHAIRMAN	1.00	Officer	$0	$0	$0
PATRICIA KENYON	TREASURER	5.00	Officer	$0	$0	$0
JESSICA RASMUSSEN	VICE CHAIR	1.00	Officer	$0	$0	$0
MARTHA KERN-BOPRIE	SECRETARY	1.00	Officer	$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	$121,080	$110,158	$116,832	$10,922
2024	$126,924	$104,850	$105,910	$22,074
2023	$100,988	$96,266	$83,836	$4,722
2022	$133,436	$123,478	$79,114	$9,958

PALM INC