Nonprofit · EIN 66-0486893
PALMAS ACADEMY INC
Tax-exempt · HUMACAO, PR 00791
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $6,415,732 | $6,560,296 | -$144,564 | $11,411,653 | $9,446,050 | $1,965,603 |
| June 30, 2024 | 990 | $5,379,767 | $5,765,717 | -$385,950 | $10,662,023 | $8,551,856 | $2,110,167 |
| June 30, 2023 | 990 | $4,623,282 | $4,448,954 | $174,328 | $10,818,631 | $8,322,514 | $2,496,117 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,467,698
- of which government grants
- $125,316
- Program service revenue
- $4,862,860
- Investment income
- $12,859
- Net income from fundraising events
- $5,472
- Net income from sales of inventory
- $22,022
- Other revenue
- $72,315
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $3,818,283
- Salaries, compensation and benefits (total)
- $4,280,940
- Professional fundraising fees
- $0
- Legal fees
- $3,305
- Accounting fees
- $28,485
- Depreciation
- $473,556
- Program services (functional)
- $4,459,320
- Management and general (functional)
- $2,100,976
Balance sheet and other
- Total assets, start of year
- $10,662,023
- Total assets, end of year
- $11,411,653
- Total liabilities, end of year
- $9,446,050
- Net assets, end of year
- $1,965,603
- Land, buildings and equipment
- $10,206,248
- Net assets without donor restrictions
- -$828,848
- Net assets with donor restrictions
- $2,794,451
- Gross receipts
- $6,464,381
- Employees
- 122
- Year formed
- 1992
- State of legal domicile
- PR
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 | Other / benefits |
|---|---|---|---|---|
| DAVID SANABRIA | HEAD OF SCHO Key employee | 40 | $230,370 | $1,545 |
| DAVID HURWITZ | PRESIDENT Trustee or director | – | $0 | $0 |
| MARIEL FIGUEROA | TREASURER Trustee or director | – | $0 | $0 |
| WENDY DRISCOLL | SECRETARY Trustee or director | – | $0 | $0 |
| TYSON HENDRICKSEN | MEMBER Trustee or director | – | $0 | $0 |
| JASON MADDOX | MEMBER Trustee or director | – | $0 | $0 |
| RAL COSCULLUELA | MEMBER Trustee or director | – | $0 | $0 |
| LIZ COLN | MEMBER Trustee or director | – | $0 | $0 |
| JAIME PALS | MEMBER Trustee or director | – | $0 | $0 |
| LILLIAM MORALES | MEMBER Trustee or director | – | $0 | $0 |
990 for the year ended June 30, 2024: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID SANABRIA | HEAD OF SCHO Key employee | 40 | $235,599 |
| DAVID HURWITZ | PRESIDENT Trustee or director | 1 | $0 |
| MARIEL FIGUEROA | TREASURER Trustee or director | 1 | $0 |
| WENDY DRISCOLL | SECRETARY Trustee or director | 1 | $0 |
| TYSON HENDRICKSEN | MEMBER Trustee or director | 1 | $0 |
| JASON MADDOX | MEMBER Trustee or director | 1 | $0 |
| RAL COSCULLUELA | MEMBER Trustee or director | 1 | $0 |
| LIZ COLN | MEMBER Trustee or director | 1 | $0 |
| JAIME PALS | MEMBER Trustee or director | 1 | $0 |
| LILLIAM MORALES | MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LILLIAM MORALES | HEAD OF SCHO Officer | – | $114,866 |
| DAVID HURWITZ | PRESIDENT Trustee or director | – | $0 |
| MARIEL FIGUEROA | TREASURER Trustee or director | – | $0 |
| WENDY DRISCOLL | SECRETARY Trustee or director | – | $0 |
| TYSON HENDRICKSEN | MEMBER Trustee or director | – | $0 |
| MARY JO S ESPASAS | MEMBER Trustee or director | – | $0 |
| JASON MADDOX | MEMBER Trustee or director | – | $0 |
| RAL COSCULLUELA | MEMBER Trustee or director | – | $0 |
| CRISTINA COLN | MEMBER Trustee or director | – | $0 |
| LORRAINE LAGO | MEMBER Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 10 ACADEMY DR, HUMACAO, PR 00791-6130
- In care of
- % RAYMOND GAGNON
- Principal officer (990 for 2024)
- DAVID HURWITZ, 10 ACADEMY DRIVE PALMAS DEL MAR, HUMACAO, PR 00791
- Signed the 990
- ITZA M GERENA, FINANCIAL DIRECTOR
- Phone
- (787) 850-9120
- Website
- THEPALMASACADEMY.COM
- Return prepared by
- CPA JORGE L RODRGUEZ VELZQUEZ
Mission
EDUCATIONAL SERVICES TO APPROX. 537 STUDENTS FROM PRE-K TO 12TH GRADE. SEE SCHEDULE O AND GENERAL FOOTNOTE ATTACHED.
Program accomplishments
- EDUCATIONAL SERVICES TO APPROX. 537 STUDENTS FROM PRE-K TO 12TH GRADE.Expenses $4,459,320 · revenue $4,862,860
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
- 66-0486893
- 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
- 1994
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $11,411,653
- Income (IRS master file)
- $6,464,381
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $6,415,732 | $6,560,296 | $11,411,653 | IRS |
| 990 | June 2024 | $5,379,767 | $5,765,717 | $10,662,023 | IRS |
| 990 | June 2023 | $4,623,282 | $4,448,954 | $10,818,631 | XML |
| 990 | June 2022 | $3,682,875 | $3,298,152 | $10,618,970 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | 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 66-0486893).
Questions about PALMAS ACADEMY INC
- What is the EIN of PALMAS ACADEMY INC?
- The employer identification number (EIN) of PALMAS ACADEMY INC is 66-0486893.
- Is PALMAS ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to PALMAS ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PALMAS 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 PALMAS 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 PALMAS 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 PALMAS ACADEMY INC?
- The 990 for the year ended June 30, 2025 names DAVID HURWITZ.
- Who are the officers and directors of PALMAS ACADEMY INC?
- The 990 for the year ended June 30, 2025 lists 10 people; 1 received compensation from the organization, the highest $230,370 (DAVID SANABRIA, HEAD OF SCHO).
- How much revenue does PALMAS ACADEMY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $6,415,732, expenses of $6,560,296 and total assets of $11,411,653 at year end.
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