Penacook Place Inc

Analysis

Penacook Place Inc is a registered charity in United States, based in Haverhill, MA. It received its IRS tax-exemption ruling in December 1970, 56 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, Penacook Place Inc reported income of $14.6m and spending of $18.1m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.7m to $14.6m (+24%), an average of +5.5% a year. Over the whole period it spent 115% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Penacook Place 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 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Tja Orthopedic Surgery PC ($14.5m), Kuumba Community Health & Wellness Center Inc ($14.6m) and Tapestry Health Systems Inc ($14.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $204k (1.1% of expenses). Other salaries and wages came to $9.0m. At year end it held assets of $4.6m against liabilities of $10.1m, net assets of -$5.5m. It reported 302 employees.

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.