Penn Northwest Development Corporation

Analysis

Penn Northwest Development Corporation is a registered charity in United States, based in Hermitage, PA. It received its IRS tax-exemption ruling in December 1985, 41 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2024, Penn Northwest Development Corporation reported income of $1.0m and spending of $1.3m, spending 126% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $505k to $1.0m (+104%), an average of +15% a year. The sharpest change came in the year to June 2020, when income rose by 468%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Penn Northwest Development Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within PA. Charities of a similar size with the same main cause include Community Builders ($1.0m), Catskill Revitalization Corporation ($1.0m) and Juanita Sims Doty Foundation ($1.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $142k (11% of expenses). Other salaries and wages came to $304k. At year end it held assets of $3.0m against liabilities of $284k, net assets of $2.7m. It reported 16 employees.