The Preservation Foundation of Palm Beach Inc

Nonprofit profile at a glance

EIN
591989832
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Palm Beach, FL, USA
Phone
5618320731
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$9,235,416
Expenses
$7,493,761
Assets
$54,420,220
Liabilities
$198,705

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

Leadership & pay

101 people listed

Executive titles in this filing

  • Amanda Skier (Former President & CEO)
  • Katherine Jacob (Vice President)

Highest reported compensation

  • Amanda Skier (Former President & CEO): $330,650 total reported compensation
  • Katherine Jacob (Vice President): $137,516 total reported compensation

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

Overview

Mission

The Preservation Foundation of Palm Beach advocates, educates, and invests in the community to protect the architectural, botanical, and cultural heritage of Palm Beach.

What it reported doing in 2024

During the 2024-2025 season, the Preservation Foundation started construction to revitalize the 20-acre Phipps Ocean Park and continued to raise money for the campaign; produced two episodes of the Craftsmen Series with Bob Vila highlighting local craftsmanship in Palm Beach; published Polly Jessup: Grande Dame of Palm Beach Decorators, and exhibited recreated pieces of her furniture; and continued to increase our advocacy presence within the Town of Palm Beach to protect out landmark buildings.

Operating model

Revenue model
Donor-supported. 75% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.1%; rating input score 76
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: $64.8 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 18.9%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 7.26; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 6.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 12.8% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 18% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 76.1% of revenue deployed · 83.1% of spending went to programs
  • Governance: 99 of 99 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.2M in reported program spending
  • Leadership: top reported pay $331K · 101 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $512K reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Sustainability: Officer compensation ratio scored 46/100.