Penrod Society

Analysis

Penrod Society is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in March 1968, 58 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Penrod Society reported income of $866k and spending of $811k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $623k to $866k (+39%), an average of +8.6% a year. The sharpest change came in the year to December 2021, when income rose by 263%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Penrod Society sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IN. Charities of a similar size with the same main cause include Krewe of Seaman Inc ($866k), Bangor Symphony Orchestra ($867k) and Fresno Arts Council Inc ($866k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 56% of the total. At year end it held assets of $1.2m against liabilities of $197k, net assets of $984k.