Penuel Inc

Analysis

Penuel Inc is a registered charity in United States, based in Ironton, MO. It received its IRS tax-exemption ruling in May 1974, 52 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Penuel Inc reported income of $512k and spending of $531k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $466k to $512k (+9.9%), an average of +2.4% a year. The sharpest change came in the year to December 2023, when income rose by 44%. Over the whole period it spent 118% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Penuel 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 71st percentile, and in the 68th percentile within MO. Charities of a similar size with the same main cause include Atlantis Sports ($512k), Harrison County Agricultural Society ($512k) and Friends of the Washington Canoe Club ($512k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% of the total. Compensation of current officers, directors and key employees was $69k (13% of expenses). Other salaries and wages came to $40k. At year end it held assets of $1.7m against liabilities of $169k, net assets of $1.5m. It reported 8 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.