PALMER SENIOR CITIZENS CENTER INC

EIN: 920078503 501(c)(3)

PALMER, AK

Total Revenue
$2,335,985
Total Expenses
$2,920,234
Total Assets
$13,170,264
Net Assets
$12,765,582
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
AK
Principal Officer
TIM PETTIT
Phone
9077455454
Tax Period
2023-07-01 to 2024-06-30

PALMER SENIOR CITIZENS CENTER INC, founded in 1980, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $2.9M exceeded revenue, resulting in a 25% operating deficit.

Mission

PRIMARY MISSION IS TO PROMOTE HONOR, DIGNITY, SECURITY, AND INDEPENDENCE FOR OLDER ALASKANS AND TO ASSIST THEM IN MAINTAINING MEANINGFUL QUALITY LIVES.

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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 $1,484,074
Program Service Revenue $773,510
Investment Income $5,326
Other Revenue $73,075
TOTAL REVENUE $2,335,985

Expense Breakdown

Grants Paid $2,496
Salaries & Benefits $1,178,289
Fundraising Expenses $89,836
Program Expenses $2,290,695
Other Expenses $1,739,449
TOTAL EXPENSES $2,920,234

Year-over-Year Comparison

2023 2022 Change
Revenue $2,335,985 $3,875,292 -0.4%
Expenses $2,920,234 $3,139,732 -0.1%
Net Income $-584,249 $735,560 -1.8%
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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Governance

Voting Members
8
Independent Members
8
Employees
45
Volunteers
60

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
5
$101,508
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIM PETTIT CEO 40.00
Officer
$101,508 $0 $101,508
WILLIAM INGRAM PRESIDENT 1.00
Officer Director
$0 $0 $0
DORA WHEELER VICE PRESIDE 1.00
Officer Director
$0 $0 $0
ELDA MCCRAW SECRETARY 1.00
Officer Director
$0 $0 $0
VIRGINIA SWEENEY TREASURER 1.00
Officer Director
$0 $0 $0
MERLE BEETER BOARD MEMBER 1.00
Director
$0 $0 $0
SUSAN WELTON THRU 923 BOARD MEMBER 1.00
Director
$0 $0 $0
CATHERINE HALL THRU 923 BOARD MEMBER 1.00
Director
$0 $0 $0
LINDA COMBS BOARD MEMBER 1.00
Director
$0 $0 $0
THOMAS SCHULMAN BOARD MEMBER 1.00
Director
$0 $0 $0
MEG BURDETTE SMITH BOARD MEMBER 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 $2,335,985 $2,920,234 $13,170,264 $-584,249
2023 $3,875,292 $3,139,732 $14,346,278 $735,560
2022 $2,646,551 $3,465,848 $13,596,343 $-819,297
2021 $2,893,048 $3,036,374 $14,399,628 $-143,326
2020 $2,713,380 $3,479,548 $14,353,075 $-766,168
2019 $3,040,953 $4,058,974 $15,308,826 $-1,018,021
2018 $2,733,579 $4,111,783 $16,249,437 $-1,378,204
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