Pennies From Heaven Foundation

Analysis

Pennies From Heaven Foundation is a registered charity in United States, based in Muskegon, MI. It received its IRS tax-exemption ruling in February 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Pennies From Heaven Foundation reported income of $563k and spending of $857k, spending 152% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $453k to $563k (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2021, when income rose by 87%. Over the whole period it spent 209% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Pennies From Heaven Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MI. Charities of a similar size with the same main cause include River Oaks Community Education and Development Corporation ($563k), St Paul Lutheran High School Association Inc ($563k) and Utah Energy Conservation Coalition Corporation ($563k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% of the total. Compensation of current officers, directors and key employees was $98k (11% of expenses). At year end it held assets of $21.5m against liabilities of $3,382, net assets of $21.5m.