Penn Asylum for Indigent Widows and Singlewomen

Analysis

Penn Asylum for Indigent Widows and Singlewomen is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 1934, 92 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Penn Asylum for Indigent Widows and Singlewomen reported income of $2.7m and spending of $425k, leaving 84% of income unspent that year. Across the 3 years on record, from December 2019 to December 2021, income grew from $887k to $2.7m (+203%), an average of +74% a year. The sharpest change came in the year to December 2021, when income rose by 220%. Over the whole period it spent 53% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Penn Asylum for Indigent Widows and Singlewomen sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include Western Arkansas Child Development Inc ($2.7m), National Association of Investors Corporation ($2.7m) and Denver Indian Center Inc ($2.7m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 0.1% of the total. Compensation of current officers, directors and key employees was $128k (30% of expenses). Other salaries and wages came to $29k. At year end it held assets of $6.9m against liabilities of $18k, net assets of $6.9m. It reported 3 employees.