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Nonprofiteer
← PENICK VILLAGE FOUNDATION INC

Form 990 for tax year 2024

Filed by PENICK VILLAGE FOUNDATION INC.

Totals

Total revenue
$774,444
Total expenses
$993,713
Contributions and grants received
$595,020
Grants paid
$788,903
Program service revenue
$0
Investment income
$179,424
Other revenue
$0
Total assets, end of year
$2,897,094
Total liabilities, end of year
$240,896
Net assets or fund balances, end of year
$2,656,198
Program services expenses (Part IX)
$788,903
Management and general expenses
$204,810
Fundraising expenses
$0
Program service expenses (Part III)
$788,903

Program services were 79.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $595,020

  • 3 · Investment income

    total $77,258 · excluded $77,258

  • 7a · Gross sales of assets other than inventory

    securities $296,051

  • 7b · Less cost or other basis and sales expenses

    securities $193,885

  • 7c · Gain or loss

    securities $102,166

  • 7d · Net gain or loss

    total $102,166 · excluded $102,166

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $788,903 · program services $788,903

  • 7 · Other salaries and wages

    total $138,498 · management and general $138,498

  • 9 · Other employee benefits

    total $3,700 · management and general $3,700

  • 10 · Payroll taxes

    total $10,676 · management and general $10,676

  • 11b · Fees: legal

    total $3,893 · management and general $3,893

  • 11c · Fees: accounting

    total $3,941 · management and general $3,941

  • 11f · Fees: investment management

    total $12,550 · management and general $12,550

  • 12 · Advertising and promotion

    total $8,679 · management and general $8,679

  • 13 · Office expenses

    total $19,630 · management and general $19,630

  • 14 · Information technology

    total $2,150 · management and general $2,150

  • 17 · Travel

    total $1,093 · management and general $1,093

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,610 · end of year $37,256

  • 2 · Savings and temporary cash investments

    beginning of year $39,745 · end of year $165,155

  • 3 · Pledges and grants receivable

    beginning of year $40,000 · end of year $40,000

  • 9 · Prepaid expenses and deferred charges

    end of year $2,177

  • 11 · Investments: publicly traded securities

    beginning of year $3,047,503 · end of year $2,646,368

  • 15 · Other assets

    beginning of year $5,854 · end of year $6,138

  • 17 · Accounts payable and accrued expenses

    beginning of year $357,179 · end of year $240,896

  • 27 · Net assets without donor restrictions

    beginning of year $2,321,266 · end of year $2,013,591

  • 28 · Net assets with donor restrictions

    beginning of year $515,267 · end of year $642,607

Mission and programs · 2024

Mission

PENICK VILLAGE FOUNDATION CONTINUES ITS MISSION TO RAISE AND DISTRIBUTE FUNDS TO PENICK VILLAGE, INC.

Activities or mission (Part I)

THE FOUNDATION'S MISSION IS TO RAISE AND DISTRIBUTE FUNDS TO PENICK VILLAGE, INC.

  • RAISE AND DISTRIBUTE FUNDS TO SUPPORT THE CHARITY WORK, MISSION AND VISION OF PENICK VILLAGE, INC.

    Expenses $788,903 · Grants $788,903

As filed on the 2024 return.

Listed in Part VII

  • JIM HEISEY

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JIM DAVIS

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • HUGH BINGHAM

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DR NANCY ELLIS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • CHAULT BROUGHTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KELLY CHANDLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BOB DARST

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOANNE DAVIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANNE HOCUTT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KARYN KLINE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JIM LEWIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PATTY POTTLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DR JIM TART

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOANNE VALDES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ALVA CROMARTIE

    CEO

    Total calculated
    $348,897
    From this org
    $0
    From related orgs
    $298,773
    Other
    $50,124
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $263,960 related
    Bonus
    $0 + $34,813 related
    Other
    $0
    Deferred
    $0 + $6,269 related
    Nontaxable benefits
    $0 + $43,855 related
    Filer's total
    $0 + $348,897 related

  • CHRISTOPHER MOONEY

    CFO

    Total calculated
    $266,415
    From this org
    $0
    From related orgs
    $253,389
    Other
    $13,026
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $226,417 related
    Bonus
    $0 + $26,972 related
    Other
    $0
    Deferred
    $0 + $3,031 related
    Nontaxable benefits
    $0 + $9,995 related
    Filer's total
    $0 + $266,415 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION FOR THE CEO IS SET BY A PENICK VILLAGE, INC., A RELATED ORGANIZATION. PENICK VILLAGE USES THE FOLLOWING METHODS TO ESTABLISH THE CEO'S COMPENSATION. COMPENSATION COMMITTEE COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202612269349300746

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