Penates Inc
Penates Inc. experiences sharp revenue decline after years of fluctuating financial performance.
EIN: 113138729 · Bay Shore, NY · NTEE: L410 · Updated: 2026-03-28
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| Metric | Value |
|---|---|
| Total Revenue | $453K |
| Total Expenses | $2.4M |
| Program Spending | 85% |
| Net Assets | $70K |
| Transparency Score | 70/100 |
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Penates Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Penates Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Penates Inc in one place.
Form 990 Filing Summary
12 filing years are available, with latest revenue of $2.7M and expenses of $2.4M.
Revenue and Expenses
Penates Inc reported $2.7M in revenue and $2.4M in expenses, a surplus of $262K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
70/100 mission score, 4 red flags, and 3 strengths are shown from structured and AI review.
Is Penates Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $2.1M (85%) |
Across stored filings, Penates Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 4 red flags identified |
| Mission spend | 85% to programs | Excellent |
| Financial durability | Grade A | 12 stored filing years |
| Peer context | Compare with Healthy Capital District Initiative | New York and Category L context |
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Bay Shore, NY nonprofitsCategory L in New York
Human Services in New York
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Penates Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Penates Inc
Penates Inc (EIN: 113138729) is a nonprofit organization based in Bay Shore, NY, classified under NTEE code L410. The organization reported total revenue of $453K and total assets of $848K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Penates Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Penates Inc is a small nonprofit that has been operating for 33 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 1.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.4M |
| Surplus / Deficit | +$262K |
| Total Assets | $647K |
| Total Liabilities | $577K |
| Net Assets | $70K |
| Operating Margin | 9.7% |
| Debt-to-Asset Ratio | 89.2% |
| Months of Reserves | 3.2 months |
Financial Health Grade: A
In 2023, Penates Inc reported a surplus of $262K with revenue exceeding expenses, holds 3.2 months of operating reserves (adequate), has a debt-to-asset ratio of 89.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Penates Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.3% | -3.5% | +111.4% |
| 2022 | -23.7% | -27.5% | -67.7% |
| 2021 | -7.8% | +9.3% | +20.9% |
| 2020 | +10.2% | -1.6% | +23.9% |
| 2019 | -0.2% | -4.5% | +2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Penates Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Penates Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $262K, with revenue exceeding expenses.
- Debt-to-asset ratio: 89.2%.
Executive Compensation Analysis
Penates Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size and revenue history.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Penates Inc's IRS 990 filings:
- Significant and unexplained drop in latest reported revenue to $453,144 from multi-million dollar figures in prior years.
- History of fluctuating financial performance, including net losses in 2021 and 2022.
- Liabilities frequently exceeded assets in several past periods (e.g., 2021, 2019, 2018, 2017, 2016), indicating potential solvency concerns.
- Consistent 0% officer compensation, which is unusual for an organization with multi-million dollar revenues and could indicate a lack of transparency in reporting or reliance on unpaid leadership.
Strengths
The following positive indicators were identified for Penates Inc:
- Positive net income reported in 2023 ($2,700,738 revenue vs. $2,438,298 expenses), showing a recent return to financial surplus.
- Consistent reporting of 0% officer compensation, suggesting a high proportion of resources are directed away from executive salaries.
- Long operational history with 12 filings, indicating sustained presence in its mission area.
Frequently Asked Questions about Penates Inc
Is Penates Inc a legitimate charity?
Penates Inc (EIN: 113138729) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 70/100. It has 12 years of IRS 990 filings on record. Total revenue: $453K. 4 red flags identified. 3 strengths noted. Financial health grade: A.
How does Penates Inc spend its money?
Penates Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Penates Inc tax-deductible?
Penates Inc is registered as a tax-exempt nonprofit (EIN: 113138729). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Penates Inc's spending goes to programs?
Penates Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Penates Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Penates Inc is above average for NTEE category L410 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Penates Inc located?
Penates Inc is headquartered in Bay Shore, New York and files with the IRS under EIN 113138729. It is classified under NTEE code L410.
How many years of IRS 990 filings does Penates Inc have?
Penates Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $453K in total revenue.
What caused the significant drop in revenue from $2,700,738 in 2023 to $453,144 in the latest reported period?
The provided data shows a drastic reduction in revenue, which could indicate a change in funding, program scope, or reporting period. Further investigation into the latest filing details would be necessary.
How does Penates Inc. manage its operations without any reported officer compensation?
The consistent reporting of 0% officer compensation suggests that leadership roles might be filled by volunteers, or compensation is reported under a different category, which warrants clarification for full transparency.
What is the organization's strategy for managing its fluctuating asset and liability levels?
Penates Inc. has experienced significant swings in its asset and liability positions, with liabilities often exceeding assets in earlier years. A clear strategy for financial stability and reserve building would be beneficial.
Filing History
IRS 990 filing history for Penates Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Penates Inc's revenue has grown by 22.3%, moving from $2.2M to $2.7M. Total assets increased by 43.7% over the same period, from $450K to $647K. Total functional expenses rose by 17%, from $2.1M to $2.4M. In its most recent filing year (2023), Penates Inc reported a surplus of $262K, with revenue exceeding expenses. The organization holds $577K in liabilities against $647K in assets (debt-to-asset ratio: 89.2%), resulting in net assets of $70K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.4M | $647K | $577K | — | View 990 |
| 2022 | $2.5M | $2.5M | $306K | $658K | — | View 990 |
| 2021 | $3.3M | $3.5M | $948K | $1.3M | — | View 990 |
| 2020 | $3.6M | $3.2M | $784K | $977K | — | View 990 |
| 2019 | $3.3M | $3.2M | $633K | $1.3M | — | View 990 |
| 2018 | $3.3M | $3.4M | $620K | $1.3M | — | View 990 |
| 2017 | $3.5M | $3.4M | $1.0M | $1.6M | — | View 990 |
| 2016 | $3.7M | $3.4M | $917K | $1.4M | — | View 990 |
| 2015 | $2.8M | $2.7M | $516K | $96K | — | View 990 |
| 2014 | $2.2M | $2.2M | $469K | $133K | — | View 990 |
| 2013 | $2.1M | $2.0M | $456K | $198K | — | View 990 |
| 2012 | $2.2M | $2.1M | $450K | $310K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.4M, and assets of $647K (revenue +6.3% year-over-year).
- 2022: Revenue of $2.5M, expenses of $2.5M, and assets of $306K (revenue -23.7% year-over-year).
- 2021: Revenue of $3.3M, expenses of $3.5M, and assets of $948K (revenue -7.8% year-over-year).
- 2020: Revenue of $3.6M, expenses of $3.2M, and assets of $784K (revenue +10.2% year-over-year).
- 2019: Revenue of $3.3M, expenses of $3.2M, and assets of $633K (revenue -0.2% year-over-year).
- 2018: Revenue of $3.3M, expenses of $3.4M, and assets of $620K (revenue -6.3% year-over-year).
- 2017: Revenue of $3.5M, expenses of $3.4M, and assets of $1.0M (revenue -5.9% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.4M, and assets of $917K (revenue +35.2% year-over-year).
- 2015: Revenue of $2.8M, expenses of $2.7M, and assets of $516K (revenue +23.5% year-over-year).
- 2014: Revenue of $2.2M, expenses of $2.2M, and assets of $469K (revenue +4.7% year-over-year).
- 2013: Revenue of $2.1M, expenses of $2.0M, and assets of $456K (revenue -3.4% year-over-year).
- 2012: Revenue of $2.2M, expenses of $2.1M, and assets of $450K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Penates Inc:
Data Sources and Methodology
This transparency report for Penates Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.