PALMISANO FOUNDATION INC

EIN: 844402401 501(c)(3) Youth Development

NEW ORLEANS, LA

Total Revenue
$367,544
Total Expenses
$283,898
Total Assets
$226,207
Net Assets
$177,255
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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
2020
Legal Domicile
LA
Principal Officer
WESLEY PALMISANO
Phone
5046208022
Tax Period
2023-01-01 to 2023-12-31

PALMISANO FOUNDATION INC, founded in 2020, is a small nonprofit in the Youth Development sector that reported $368K in total revenue in fiscal year 2023. Revenue surged 169% from the prior year, signaling strong growth momentum. The organization ran a surplus of $84K, a strong 23% operating margin.

Mission

THE PALMISANO FOUNDATION ENGAGES IN A VARIETY OF SOCIAL INITIATIVES THAT ARE FOCUSED ON HELPING YOUTH REALIZE THEIR POTENTIAL. WE WORK WITH CHILDREN FROM MIDDLE SCHOOL, THROUGH HIGH SCHOOL AND COLLEGE, TO STABLE EMPLOYMENT. OUR CURRENT PROGRAMS INCLUDE INTRODUCTION OF THE AEC INDUSTRY TO MIDDLE SCHOOL STUDENTS, A TRADE SCHOOL FOR HIGH SCHOOL STUDENTS, HELPING FAMILIES IN CONJUNCTION WITH OTHER NON-PROFITS IN THE COMMUNITIES WHERE WE WORK, MISSION TRIPS TO HELP THOSE LESS FORTUNATE, AND SCHOLARSHIPS FOR COLLEGE STUDENTS.

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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 $304,079
Program Service Revenue $0
Investment Income $0
Other Revenue $63,465
TOTAL REVENUE $367,544

Expense Breakdown

Grants Paid $205,878
Salaries & Benefits $69,010
Fundraising Expenses $0
Program Expenses $283,898
Other Expenses $9,010
TOTAL EXPENSES $283,898

Year-over-Year Comparison

2023 2022 Change
Revenue $367,544 $136,525 +1.7%
Expenses $283,898 $134,501 +1.1%
Net Income $83,646 $2,024 +40.3%
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
8
Independent Members
8
Employees
1
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
4
$69,010
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WESLEY PALMISANO PRESIDENT & DIRECTOR 1.00
Officer Director
$0 $0 $0
ANN PALMISANO TREASURER & DIRECTOR 1.00
Officer Director
$0 $0 $0
DIANA ROSEN SECRETARY & DIRECTOR 1.00
Officer Director
$0 $0 $0
ERIKA BUSH BOARD MEMBER 0.00
Director
$0 $0 $0
KRISTAL DRODDY BOARD MEMBER 0.00
Director
$0 $0 $0
WILL COTTEN BOARD MEMBER 0.00
Director
$0 $0 $0
DAVID GREENWOOD BOARD MEMBER 0.00
Director
$0 $0 $0
TANYA FREEMAN BOARD MEMBER 0.00
Director
$0 $0 $0
SHERRY SERIO EXECUTIVE DIRECTOR 1.00
Officer
$62,400 $6,610 $69,010
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 $367,544 $283,898 $226,207 $83,646
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