Pennys Flight Foundation Inc

Analysis

Pennys Flight Foundation Inc is a registered charity in United States, based in Glen Cove, NY. It received its IRS tax-exemption ruling in January 2023, 3 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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, Pennys Flight Foundation Inc reported income of $1.7m and spending of $1.3m, leaving 22% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $645k to $1.7m (+161%), an average of +161% a year. The sharpest change came in the year to December 2023, when income rose by 161%. Over the whole period it spent 58% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Pennys Flight Foundation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Womens Healthcare Center Inc ($1.7m), University of Chicago Cancer Research Foundation ($1.7m) and Sstar of Rhode Island Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $77k (5.8% of expenses). At year end it held assets of $1.5m against liabilities of $661k, net assets of $801k. It reported 1 employees.