Ahepa-Penelope 35 Inc

Analysis

Ahepa-Penelope 35 Inc is a registered charity in United States, based in Bloomington, MN. It received its IRS tax-exemption ruling in August 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Ahepa-Penelope 35 Inc reported income of $395k and spending of $489k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $337k to $395k (+17%), an average of +4.1% a year. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ahepa-Penelope 35 Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include Golden Empire Affordable Housing Inc II ($395k), Pepper Ridge Development LLC ($395k) and Fair Housing Center of the Greater Palm Beaches ($395k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $1.8m against liabilities of $142k, net assets of $1.7m.

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.