Penquis C a P Inc

Analysis

Penquis C a P Inc is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in September 1990, 36 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Penquis C a P Inc reported income of $73.4m and spending of $72.0m, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $54.8m to $73.4m (+34%), an average of +7.6% a year. The sharpest change came in the year to September 2021, when income rose by 29%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Penquis C a P Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within ME. Charities of a similar size with the same main cause include Guide Dogs for the Blind Inc ($72.8m), Easterseals Morc Health Care Inc ($73.4m) and Turning Point Community Programs ($72.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 47% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $629k (0.9% of expenses). Other salaries and wages came to $23.3m. At year end it held assets of $50.0m against liabilities of $11.8m, net assets of $38.1m. It reported 720 employees.