Palm University Foundation

Nonprofit profile at a glance

EIN
331143418
IRS 990 coverage
2020–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Portland, OR, Ghana
Phone
+233 (0) 24-285 0220; +233 (0) 54 084 4927
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$188,458
Expenses
$188,842
Assets
$922
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • PETER OKANTEY (PRESIDENT)

People named in this filing

  • PETER OKANTEY (PRESIDENT)
  • PATRICIA AKOSUA ASANTE-FREMPONG (CHAIRPERSON)
  • BETH OKANTEY (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Palm University College’s mission is to produce educated, ethical and excellent leaders with integrity for corporate, national, and continental creativity, innovation, service, and sustainability. Our mission is to produce educated ethical and excellent leaders with integrity for corporate, national, and continental creativity, innovation, service, and sustainability. Our Vision Our vision is to produce educated ethical and excellent leaders who are committed to the application of knowledge for the transformation of the African continent. As part of ensuring we achieve our mission to educate ethical leaders in Africa and especially Ghana, the University Council, the Executive Team, faculty and staff of Palm University College started discussing and pursuing the need to adopt an Honour System at Palm University College in June 2020. Introduction and Background Information The...

What it reported doing in 2024

Palm university held its first-ever career fair on 2nd april, marking a significant milestone in exposing students to real industry opportunities. A total of 22 companies participated, representing diverse sectors and offering students valuable insights into emerging career paths. Organizations such as mtn, telecel, kpmg, tgts, bunge, 0800africa, bidvest, oml africa, remoteli, and maxim nyansa were among the participating companies, engaging directly with students through discussions, q&a sessions, and networking opportunities.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 85
  • Accountability: 70
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.7%; rating input score 96
  • Program expense ratio: 95.5%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: -26.2% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 95.7% of revenue deployed · 95.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $180K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors, foreign activity, and related organizations
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.