Ahepa-Penelope 120 Inc

Analysis

Ahepa-Penelope 120 Inc is a registered charity in United States, based in Peabody, MA. It received its IRS tax-exemption ruling in December 1998, 28 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ahepa-Penelope 120 Inc reported income of $557k and spending of $674k, spending 121% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $513k to $557k (+8.6%), an average of +2.8% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ahepa-Penelope 120 Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include Group Living Facilities Non-Profit Housing Corporation ($557k), Episcopal Housing Ministry Inc ($558k) and Hubbardston Elderly Housing Inc ($557k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $3.2m against liabilities of $725k, net assets of $2.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.