Penick Village Foundation Inc

Penick Village Foundation Inc. shows strong asset growth and zero reported executive compensation over the past decade.

EIN: 201055492 · Southern Pnes, NC · NTEE: L12 · Updated: 2026-03-28

$410KRevenue

$3.2MAssets

92/100Mission Score (Excellent)

L12

About Penick Village Foundation Inc

Penick Village Foundation Inc (EIN: 201055492) is a nonprofit organization based in Southern Pnes, NC, classified under NTEE code L12. The organization reported total revenue of $410K and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Penick Village Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Penick Village Foundation Inc. demonstrates a generally healthy financial position, with assets consistently growing over the past decade, reaching $3,162,560 in the 202309 period. The organization's revenue has shown significant fluctuations, with a notable peak of $1,792,416 in 202309, indicating strong fundraising or investment performance in that year. Expense management appears efficient, with expenses in most years being considerably lower than revenue, contributing to asset growth. For instance, in 202309, expenses were $761,434 against $1,792,416 in revenue, suggesting a substantial surplus for future programs or endowment growth.

The organization's spending efficiency is commendable, particularly given the consistent reporting of 0% officer compensation across all available filings. This indicates that a very high proportion of funds are likely directed towards program services or operational support rather than executive salaries. While a detailed breakdown of program, administrative, and fundraising expenses isn't provided in the summary data, the absence of executive compensation is a strong positive indicator of resource allocation.

Transparency is high regarding executive compensation, as it consistently reports 0%. The consistent filing of IRS Form 990s over 13 periods also reflects a commitment to public accountability. The steady growth in assets, from $1,038,951 in 201409 to over $3 million in 202309, suggests effective financial stewardship and a strong capacity to sustain its mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Penick Village Foundation Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 5%
programs: 90%
fundraising: 5%

According to IRS 990 filings, Penick Village Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization with assets exceeding $3 million and annual revenues often above $500,000.

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 Penick Village Foundation Inc's IRS 990 filings:

Unusually high revenue fluctuation (e.g., $733,887 in 202209 to $1,792,416 in 202309) without clear explanation in summary data
Consistent 0% officer compensation, which, while positive for efficiency, can sometimes mask compensation paid through related entities or complex structures.

Strengths

The following positive indicators were identified for Penick Village Foundation Inc:

Consistent asset growth, from $1,038,951 in 201409 to $3,162,560 in 202309, demonstrating strong financial management.
Zero reported officer compensation across all filings, indicating a high proportion of funds available for mission-related activities.
Expenses consistently lower than revenue in most periods, leading to healthy surpluses and asset accumulation.
Strong financial health with a significant increase in net assets over the past decade.
Regular and consistent IRS 990 filing history, indicating good transparency and compliance.

Frequently Asked Questions about Penick Village Foundation Inc

How does Penick Village Foundation Inc. manage to operate without officer compensation?

The filings consistently show 0% officer compensation, which suggests that executive functions might be performed by volunteers, compensated through a related entity, or that the organization's structure does not involve paid officers in the traditional sense. Further investigation into their operational model would be needed.

What is the primary source of the significant revenue increase in 202309?

Revenue jumped from $733,887 in 202209 to $1,792,416 in 202309. This substantial increase could be due to a large one-time donation, a successful fundraising campaign, or significant investment gains. The specific nature of this revenue spike would require reviewing the detailed 990 filing for that period.

What are the main program activities supported by Penick Village Foundation Inc.?

Given its NTEE code L12 (Continuing Care Retirement Communities), the foundation likely supports the residents and operations of Penick Village, a retirement community. This could include financial assistance for residents, facility improvements, or specific programs for seniors.

Filing History

IRS 990 filing history for Penick Village Foundation Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Penick Village Foundation Inc's revenue has grown by 547.2%, moving from $277K to $1.8M. Total assets increased by 428.2% over the same period, from $599K to $3.2M. Total functional expenses rose by 175.4%, from $276K to $761K. In its most recent filing year (2023), Penick Village Foundation Inc reported a surplus of $1.0M, with revenue exceeding expenses. The organization holds $309K in liabilities against $3.2M in assets (debt-to-asset ratio: 9.8%), resulting in net assets of $2.9M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1.8M	$761K	$3.2M	$309K	—	—
2022	$734K	$713K	$2.0M	$311K	—	—
2021	$528K	$344K	$2.5M	$311K	—	View 990
2020	$470K	$345K	$2.0M	$267K	—	—
2019	$743K	$673K	$1.8M	$310K	—	View 990
2018	$860K	$723K	$1.7M	$256K	—	View 990
2017	$485K	$423K	$1.6M	$309K	—	View 990
2016	$717K	$436K	$1.5M	$356K	—	View 990
2015	$552K	$239K	$1.2M	$238K	—	View 990
2014	$586K	$376K	$1.0M	$197K	—	View 990
2013	$345K	$300K	$712K	$129K	—	View 990
2012	$553K	$542K	$611K	$105K	—	View 990
2011	$277K	$276K	$599K	$107K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1.8M, expenses of $761K, and assets of $3.2M (revenue +144.2% year-over-year).
2022: Revenue of $734K, expenses of $713K, and assets of $2.0M (revenue +38.9% year-over-year).
2021: Revenue of $528K, expenses of $344K, and assets of $2.5M (revenue +12.4% year-over-year).
2020: Revenue of $470K, expenses of $345K, and assets of $2.0M (revenue -36.7% year-over-year).
2019: Revenue of $743K, expenses of $673K, and assets of $1.8M (revenue -13.6% year-over-year).
2018: Revenue of $860K, expenses of $723K, and assets of $1.7M (revenue +77.3% year-over-year).
2017: Revenue of $485K, expenses of $423K, and assets of $1.6M (revenue -32.3% year-over-year).
2016: Revenue of $717K, expenses of $436K, and assets of $1.5M (revenue +29.9% year-over-year).
2015: Revenue of $552K, expenses of $239K, and assets of $1.2M (revenue -5.9% year-over-year).
2014: Revenue of $586K, expenses of $376K, and assets of $1.0M (revenue +70.2% year-over-year).
2013: Revenue of $345K, expenses of $300K, and assets of $712K (revenue -37.7% year-over-year).
2012: Revenue of $553K, expenses of $542K, and assets of $611K (revenue +99.6% year-over-year).
2011: Revenue of $277K, expenses of $276K, and assets of $599K.

Data Sources and Methodology

This transparency report for Penick Village Foundation 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.