Penn-Mar Foundation

Analysis

Penn-Mar Foundation is a registered charity in United States, based in Freeland, MD. It received its IRS tax-exemption ruling in December 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Penn-Mar Foundation reported income of $1.9m and spending of $667k, leaving 65% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $1.9m (+53%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 91%. Over the whole period it spent 26% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Penn-Mar Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within MD. Charities of a similar size with the same main cause include Hedge Funds Care Inc ($1.9m), Watertown Area Community Foundation ($1.9m) and 914 Cares Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% of the total. It paid $17k in professional fundraising fees. At year end it held assets of $15.1m against liabilities of $99k, net assets of $15.0m.