SHELTERING PALMS FOUNDATION INC

EIN: 752715357 501(c)(3) Housing & Shelter

BOCA RATON, FL

Total Revenue
$259,861
Total Expenses
$681,710
Total Assets
$7,962,269
Net Assets
$7,957,665
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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

Principal Officer
HARVEY J POLLY
Phone
8507963100
Tax Period
2023-01-01 to 2023-12-31

SHELTERING PALMS FOUNDATION INC is a small nonprofit in the Housing & Shelter sector that reported $260K in total revenue in fiscal year 2023. Revenue surged 435% from the prior year, signaling strong growth momentum. Expenses of $682K exceeded revenue, resulting in a 162% operating deficit.

Mission

PROVIDE HOUSING TO LOW AND MODERATE INCOME PERSONS AND FAMILIES

Program Service Accomplishments

Program 1
Expenses: $646,400

OPERATED AND LEASED APARTMENT UNITS TO LOW AND MODERATE INCOME PERSONS AND FAMILIES AT APARTMENT COMPLEXES IN THE UNITED STATES.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $259,861
Other Revenue $0
TOTAL REVENUE $259,861

Expense Breakdown

Grants Paid $72,619
Salaries & Benefits $462,559
Fundraising Expenses $0
Program Expenses $646,400
Other Expenses $146,532
TOTAL EXPENSES $681,710

Year-over-Year Comparison

2023 2022 Change
Revenue $259,861 $48,584 +4.3%
Expenses $681,710 $884,554 -0.2%
Net Income $-421,849 $-835,970 -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

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Governance

Voting Members
5
Independent Members
5
Employees
2
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
3
$415,833
Total Directors
5
$415,833
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANTHONY J FLAIM DIRECTOR 20.00
Officer Director
$224,167 $0 $224,167
HARVEY J POLLY PRESIDENT 16.00
Officer Director
$191,666 $0 $191,666
JEFFREY POLLY DIRECTOR 1.00
Director
$0 $0 $0
JUDITH S POLLY DIRECTOR 1.00
Director
$0 $0 $0
THERESA FLAIM POLLY DIRECTOR 1.00
Officer 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
2024 No data No data No data No data
2023 $259,861 $681,710 $7,962,269 $-421,849
2022 $48,584 $884,554 $8,649,930 $-835,970
2021 $8,762,156 $4,528,628 $10,617,493 $4,233,528
2020 $2,026,355 $2,414,964 $19,548,525 $-388,609
2019 $1,802,710 $2,691,277 $20,418,100 $-888,567
2018 $2,042,010 $2,536,655 $22,099,967 $-494,645
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