Penngift Foundation Inc

Analysis

Penngift Foundation Inc is a registered charity in United States, based in Elverson, PA. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Penngift Foundation Inc reported income of $3.2m and spending of $1.9m, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $889k to $3.2m (+257%), an average of +38% a year. The sharpest change came in the year to December 2022, when income rose by 112%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Penngift Foundation Inc 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 89th percentile, and in the 88th percentile within PA. Charities of a similar size with the same main cause include Kent School Inc ($3.2m), Spring Educational Foundation ($3.2m) and Resurgent Education and Community Health Service Inc ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $84k. At year end it held assets of $3.6m against liabilities of $0, net assets of $3.6m. It reported 3 employees.