Penney Retirement Community Inc

Analysis

Penney Retirement Community Inc is a registered charity in United States, based in Green CV SPGS, FL. It received its IRS tax-exemption ruling in April 1957, 69 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Penney Retirement Community Inc reported income of $20.1m and spending of $20.3m, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $15.6m to $20.1m (+29%), an average of +6.6% a year. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Penney Retirement Community Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Semcac Inc ($20.1m), Childrens Center of Wayne County Inc ($20.1m) and Burlington United Methodist Family Services Inc ($20.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $470k (2.3% of expenses). Other salaries and wages came to $7.4m. At year end it held assets of $67.1m against liabilities of $47.6m, net assets of $19.5m. It reported 332 employees.