Wise Penny Inc

Analysis

Wise Penny Inc is a registered charity in United States, based in Manitowoc, WI. It received its IRS tax-exemption ruling in April 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Wise Penny Inc reported income of $309k and spending of $315k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $255k to $309k (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wise Penny Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within WI. Charities of a similar size with the same main cause include Thrift Shop ($309k), Foster Alumni Mentors ($309k) and American Friends of Beer Hatorah Inc ($309k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.5% of the total. At year end it held assets of $432k against liabilities of $0, net assets of $432k.

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.