Pennies From Heaven Foundation
- Assets
- $21.5m
- Revenue
- $563.3k
- Investments
- $715.5k
- Employees
- 0
- Location
- Muskegon, MI
- Founding
- 02/2013
- Data as of
- 12/2023
- EIN
- 46-1452896
Organization Overview
Pennies From Heaven Foundation is located in Muskegon, MI. The organization was established in 2013. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennies From Heaven 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 12/2023, Pennies From Heaven Foundation generated $563.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (15.5%) each year. All expenses for the organization totaled $856.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Pennies From Heaven Foundation has awarded 119 individual grants totaling $8,309,792. 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
SUPPORTING ORGANIZATION OF THE COMMUNITY FOUNDATION FOR MUSKEGON COUNTY COMMITTED TO FURTHERING THE PHILANTROPIC ACTIVITIES OF THAT ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FORMED IN 2012 AS A SUPPORTING ORGANIZATION OF THE COMMUNITY FOUNDATION FOR MUSKEGON COUNTY COMMITTED TO FURTHERING THE PHILANTROPIC ACTIVITIES OF THAT ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wilson Chairperson | OfficerTrustee | 1 | $0 |
Anita Wilson Vice Chairperson | OfficerTrustee | 1 | $0 |
Heidi Systema Secretary/treasurer | OfficerTrustee | 1 | $0 |
Bob Chapla Director | Trustee | 1 | $0 |
Dr Sue Henry Director | Trustee | 1 | $0 |
Kathy Maclean Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,619 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,619 |
| Total Program Service Revenue | $0 |
| Investment income | $343,126 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $96,677 |
| Net Gain/Loss on Asset Sales | $115,942 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $563,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $524,621 |
| 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. | $97,918 |
| Compensation of current officers, directors, key employees. | $19,584 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,772 |
| Payroll taxes | $5,457 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| 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 | $46,254 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $856,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278,732 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,353,876 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,570,935 |
| Investments—publicly traded securities | $13,544,234 |
| Investments—other securities | $715,474 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,463,251 |
| Accounts payable and accrued expenses | $3,382 |
| 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 | $0 |
| Total liabilities | $3,382 |
| Net assets without donor restrictions | $21,459,869 |
| Net assets with donor restrictions | $0 |
| 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 | $21,463,251 |
Grants Awarded
Over the last fiscal year, Pennies From Heaven Foundation has awarded $501,457 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
LAKESHORE CHILDREN'S ADVOCACY CENTER PURPOSE: SUPPORT FOR OPENING A MASON COUNTY LOCATION | $30,000 |
SINGLE MOMM PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
UNITED WAY OF MASON COUNTY PURPOSE: FAMILY LINK AND LRN BUILDING EXPENSES | $143,649 |
TALENT FIRST PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
YAC LAKE JUMP FUND PURPOSE: MATCH GRANT TO MASON COUNTY'S YAC FOR YAC LAKE JUMP | $30,000 |
MUSKEGON CHRISTIAN SCHOOL PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |