Nonprofit · EIN 20-5949060
PALM ACADEMY INC
Tax-exempt · FREMONT, CA 94539
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,298,799 | $1,075,351 | $223,448 | $2,159,055 | $170,938 | $1,988,117 |
| June 30, 2024 | 990 | $1,275,045 | $1,079,855 | $195,190 | $1,881,513 | $96,132 | $1,785,381 |
| June 30, 2023 | 990 | $993,619 | $995,788 | -$2,169 | $1,633,495 | $176,124 | $1,457,371 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,243,630
- Investment income
- $55,169
- Net gain from sales of assets
- $43,109
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $105,600
- Salaries, compensation and benefits (total)
- $687,503
- Professional fundraising fees
- $0
- Accounting fees
- $4,405
- Occupancy
- $52,783
- Depreciation
- $15,402
- Program services (functional)
- $870,444
- Management and general (functional)
- $204,907
Balance sheet and other
- Total assets, start of year
- $1,881,513
- Total assets, end of year
- $2,159,055
- Total liabilities, end of year
- $170,938
- Net assets, end of year
- $1,988,117
- Land, buildings and equipment
- $151,081
- Publicly traded securities
- $1,662,959
- Gross receipts
- $3,728,734
- Employees
- 25
- Volunteers
- 0
- Year formed
- 2007
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RUTH YONG | PRESIDENT Trustee or director, Officer | 40 | $0 |
| DEBBIE LAU | SECRETARY Trustee or director | 1 | $0 |
| GRACE LAU | TREASURER Trustee or director | 1 | $0 |
| ABRAHAM JOU | BOARD MEMBER Trustee or director | 1 | $0 |
| JOEL LO | BOARD MEMBER Trustee or director | 1 | $0 |
| SIMON CHANG | BOARD MEMBER Trustee or director | 1 | $0 |
| TECH POH WONG | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RUTH YONG | PRESIDENT Trustee or director, Officer | 40 | $105,325 |
| DEBBIE LAU | SECRETARY Trustee or director | 1 | $0 |
| GRACE LAU | TREASURER Trustee or director | 1 | $0 |
| ABRAHAM JOU | BOARD MEMBER Trustee or director | 1 | $0 |
| JOEL LO | BOARD MEMBER Trustee or director | 1 | $0 |
| SIMON CHANG | BOARD MEMBER Trustee or director | 1 | $0 |
| TECH POH WONG | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 5 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RUTH YONG | PRESIDENT Trustee or director, Officer | 40 | $105,000 | $8,134 |
| DEBBIE LAU | SECRETARY Trustee or director | 1 | $0 | $0 |
| GRACE LAU | TREASURER Trustee or director | 1 | $0 | $0 |
| ABRAHAM JOU | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOEL LO | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2856 WASHINGTON BLVD, FREMONT, CA 94539-5036
- In care of
- % RUTH YONG
- Principal officer (990 for 2024)
- RUTH YONG, 2856 WASHINGTON BLVD, FREMONT, CA 94539
- Signed the 990
- RUTH YONG, PRESIDENT
- Phone
- (510) 565-5682
- Website
- HTTPS://WWW.PALMACADEMY.COM/
- Return prepared by
- JB ACCOUNTING & TAX GROUP AAC
California records
California keeps its own records of charities and corporations. Search them by EIN 20-5949060 or by the name PALM ACADEMY INC.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
A BETTER EDUCATION FOR MINOR CHILDREN.
Program accomplishments
- EDUCATIONExpenses $870,444 · revenue $1,298,799
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 20-5949060
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B21)
- Assets (IRS master file)
- $2,159,055
- Income (IRS master file)
- $3,728,734
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,298,799 | $1,075,351 | $2,159,055 | IRS |
| 990 | June 2024 | $1,275,045 | $1,079,855 | $1,881,513 | IRS |
| 990 | June 2023 | $993,619 | $995,788 | $1,633,495 | XML |
| 990 | June 2022 | $1,141,110 | $994,885 | $1,505,649 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5949060).
Questions about PALM ACADEMY INC
- What is the EIN of PALM ACADEMY INC?
- The employer identification number (EIN) of PALM ACADEMY INC is 20-5949060.
- Is PALM ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to PALM ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PALM ACADEMY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PALM ACADEMY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PALM ACADEMY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of PALM ACADEMY INC?
- The 990 for the year ended June 30, 2025 names RUTH YONG.
- Who are the officers and directors of PALM ACADEMY INC?
- The 990 for the year ended June 30, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does PALM ACADEMY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,298,799, expenses of $1,075,351 and total assets of $2,159,055 at year end.
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