Penn-Mar Foundation
- Assets
- $15.1m
- Revenue
- $1.9m
- Investments
- $10.7m
- Employees
- 0
- Location
- Freeland, MD
- Founding
- 12/1997
- Data as of
- 06/2023
- EIN
- 23-2854773
Organization Overview
Penn-Mar Foundation is located in Freeland, MD. The organization was established in 1997. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penn-Mar Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Penn-Mar Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $667.5k during the year ending 06/2023. While expenses have increased by 2.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Penn-Mar Foundation has awarded 16 individual grants totaling $2,846,024. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE GIFTS, GRANTS, LOANS, ETC. OF ANY OF ITS PROPERTY TO OR FOR THE BENEFIT OF PENN-MAR ORGANIZATION, INC. (OF MARYLAND) AND PENN-MAR ORGANIZATION, INC. (OF PENNSYLVANIA), BOTH 501 (C) (3) ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RECEIVED CONTRIBUTIONS IN THE CURRENT YEAR THAT WILL BE USED FOR THE BENEFIT OF PENN-MAR ORGANIZATION, INC. (OF MARYLAND) AND PENN-MAR ORGANIZATION, INC. (OF PENNSYLVANIA)
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Gallo Immediate Past Chairman | Trustee | 1 | $0 |
Bruce Bartels Director | Trustee | 1 | $0 |
Anthony P Campisi Director | Trustee | 1 | $0 |
Dr James Ball Director | Trustee | 1 | $0 |
Kristine Crosswhite Director | Trustee | 1 | $0 |
Christy Cohen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $603,116 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,091,898 |
| Noncash contributions included in lines 1a–1f | $47,878 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,695,014 |
| Total Program Service Revenue | $0 |
| Investment income | $254,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$17,348 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,931,835 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $522,675 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,392 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $16,750 |
| Fees for services: Investment Management | $38,836 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $667,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,736 |
| Savings and temporary cash investments | $2,846,825 |
| Pledges and grants receivable | $1,353,004 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,600 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,694,439 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,051,604 |
| Accounts payable and accrued expenses | $31,260 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $67,386 |
| Total liabilities | $98,646 |
| Net assets without donor restrictions | $9,257,523 |
| Net assets with donor restrictions | $5,695,435 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,051,604 |
Grants Awarded
Over the last fiscal year, Penn-Mar Foundation has awarded $519,677 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PENN-MAR ORGANIZATION INC (PA) PURPOSE: TO ASSIST RECIPIENT ORGANIZATION IN PURSUIT OF ITS TAX-EXEMPT PURPOSE. | $124,332 |
PENN-MAR ORGANIZATION INC (MD) PURPOSE: TO ASSIST RECIPIENT ORGANIZATION IN PURSUIT OF ITS TAX-EXEMPT PURPOSE. | $395,345 |