Pennies on Purpose

Analysis

Pennies on Purpose is a registered charity in United States, based in Redding, CA. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Pennies on Purpose reported income of $61k and spending of $82k, spending 135% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $94k to $61k (-35%), an average of -35% a year. The sharpest change came in the year to December 2023, when income dropped by 35%. Over the whole period it spent 113% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Pennies on Purpose sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within CA. Charities of a similar size with the same main cause include South Texas Agricultural Roundup ($61k), Hanford Ffa Parents Club ($61k) and Taking Back the Future ($61k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 9.8% of the total. At year end it held assets of $6,467 against liabilities of $14k, net assets of -$7,298.