Friends of the Penn

Analysis

Friends of the Penn is a registered charity in United States, based in Plymouth, MI. It received its IRS tax-exemption ruling in September 2005, 21 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 (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, Friends of the Penn reported income of $268k and spending of $285k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $330k to $268k (-19%), an average of -5.1% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Penn sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within MI. Charities of a similar size with the same main cause include Kelly Music for Life ($268k), Coro Allegro Inc ($268k) and Creative Arts for Kids Inc ($268k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 41% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $33k (12% of expenses). Other salaries and wages came to $57k. At year end it held assets of $1.7m against liabilities of $62k, net assets of $1.6m. It reported 14 employees.