Penns Northeast Inc

Analysis

Penns Northeast Inc is a registered charity in United States, based in Pittston, PA. It received its IRS tax-exemption ruling in March 2004, 22 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2024, Penns Northeast Inc reported income of $324k and spending of $286k, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $286k to $324k (+13%), an average of +3.2% a year. The sharpest change came in the year to June 2021, when income rose by 3646%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Penns Northeast 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 63rd percentile, and in the 61st percentile within PA. Charities of a similar size with the same main cause include 79th Street Corridor Neighborhood Initiative Inc ($324k), The Journey Forward ($324k) and MLK Family Arts Mentoring Enrichment Community Center ($324k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $126k (44% of expenses). Other salaries and wages came to $57k. At year end it held assets of $599k against liabilities of $28k, net assets of $571k. It reported 2 employees.