The Penates Foundation
The Penates Foundation: Strong Asset Growth, but Transparency and Mission Clarity Needed
EIN: 222536075 · Seabrook, NH · Updated: 2026-04-04
About The Penates Foundation
The Penates Foundation (EIN: 222536075) is a nonprofit organization based in Seabrook, NH. The organization reported total revenue of $7.9M and total assets of $34.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Penates Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Penates Foundation with a Mission Score of 65 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: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, The Penates Foundation allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided filings, making a direct assessment difficult without further information.
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 The Penates Foundation's IRS 990 filings:
- Lack of a clear mission statement or detailed program descriptions on public platforms.
- Significant administrative expenses (x706381 in 2023) relative to reported revenue, without clear justification.
- The 'nt' (nonprofit type) field is missing, hindering a full understanding of its operational scope.
Strengths
The following positive indicators were identified for The Penates Foundation:
- Consistent and substantial growth in assets, reaching $34,525,348.
- Low liability-to-asset ratio, indicating strong financial health.
- Consistent revenue generation over multiple years.
Frequently Asked Questions about The Penates Foundation
What does The Penates Foundation do?
The Penates Foundation is a nonprofit organization in the Unknown sector, located in Seabrook, New Hampshire. It is classified under NTEE code Unknown.
How much revenue does The Penates Foundation have?
The Penates Foundation reported total revenue of $7,913,534. Based on 11 IRS 990 filings on record.
What are The Penates Foundation's total assets?
The Penates Foundation holds total assets of $34,525,348 as reported in IRS 990 filings.
Where is The Penates Foundation located?
The Penates Foundation is based in Seabrook, New Hampshire.
What is The Penates Foundation's EIN?
The Penates Foundation's Employer Identification Number (EIN) is 222536075. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Penates Foundation?
The Penates Foundation is classified under NTEE code Unknown (Unknown).
Is The Penates Foundation a registered 501(c)(3)?
The Penates Foundation appears in IRS records (EIN: 222536075). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does The Penates Foundation file IRS Form 990?
Yes, The Penates Foundation has 11 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was The Penates Foundation's revenue in 2023?
In the 202312 filing period, The Penates Foundation reported total revenue of $10,076,148, total expenses of $706,381, and net assets of $29,270,900.
Is The Penates Foundation's revenue growing or declining?
The Penates Foundation's revenue is growing. Revenue went from $8,346,573 (202212) to $10,076,148 (202312), a +20.7% change. Based on 11 filings on record.
What is The Penates Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for The Penates Foundation covers tax period 202312. It shows revenue of $10,076,148, expenses of $706,381, total assets of $29,270,900, and liabilities of $76,254.
How much does The Penates Foundation spend on programs vs administration?
Based on IRS 990 analysis, The Penates Foundation allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is The Penates Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, The Penates Foundation shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for The Penates Foundation?
The following concerns were identified: Lack of a clear mission statement or detailed program descriptions on public platforms.. Significant administrative expenses (x706381 in 2023) relative to reported revenue, without clear justification.. The 'nt' (nonprofit type) field is missing, hindering a full understanding of its operational scope.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are The Penates Foundation's strengths?
Positive indicators for The Penates Foundation include: Consistent and substantial growth in assets, reaching $34,525,348.. Low liability-to-asset ratio, indicating strong financial health.. Consistent revenue generation over multiple years.. These findings are derived from AI analysis of the organization's financial filings.
How does The Penates Foundation compensate executives?
Executive compensation is not explicitly detailed in the provided filings, making a direct assessment difficult without further information. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial asset growth and revenue, what are the specific programmatic activities and impact metrics that justify the administrative and fundraising expenses?
While the organization has grown significantly in assets, the filings do not provide sufficient detail on specific programs or their impact. For example, in 2023, with revenue of $10,076,148, administrative expenses were $706,381, and without clear program details, it's challenging to assess the efficiency of these expenditures.
How does The Penates Foundation ensure its mission is being met without a publicly available, detailed mission statement or program goals?
The absence of a clear, publicly stated mission and detailed program goals makes it difficult for stakeholders to understand the organization's purpose and how its financial resources are being deployed to achieve specific objectives. This lack of clarity can hinder public trust and accountability.
Filing History
IRS 990 filing history for The Penates Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), The Penates Foundation's revenue has grown by 256.4%, moving from $2.8M to $10.1M. Total assets increased by 148.3% over the same period, from $11.8M to $29.3M. Total functional expenses fell by 69.9%, from $2.3M to $706K. In its most recent filing year (2023), The Penates Foundation reported a surplus of $9.4M, with revenue exceeding expenses. The organization holds $76K in liabilities against $29.3M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $29.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $10.1M | $706K | $29.3M | $76K | — | — |
| 2022 | $8.3M | $199K | $22.2M | $59K | — | View 990 |
| 2022 | $5.2M | $511K | $13.1M | $74K | — | View 990 |
| 2021 | $1.5M | $352K | $11.4M | $59K | — | View 990 |
| 2020 | $143K | $598K | $8.2M | $5K | — | — |
| 2019 | $346K | $777K | $8.9M | $1K | — | View 990 |
| 2015 | $2.2M | $1.7M | $10.0M | $54K | — | View 990 |
| 2014 | $521K | $832K | $11.6M | $1 | — | View 990 |
| 2013 | $590K | $1.2M | $10.0M | $14 | — | View 990 |
| 2012 | $538K | $2.0M | $10.4M | $0 | — | View 990 |
| 2011 | $2.8M | $2.3M | $11.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $10.1M, expenses of $706K, and assets of $29.3M (revenue +20.7% year-over-year).
- 2022: Revenue of $8.3M, expenses of $199K, and assets of $22.2M (revenue +59.0% year-over-year).
- 2022: Revenue of $5.2M, expenses of $511K, and assets of $13.1M (revenue +247.2% year-over-year).
- 2021: Revenue of $1.5M, expenses of $352K, and assets of $11.4M (revenue +958.5% year-over-year).
- 2020: Revenue of $143K, expenses of $598K, and assets of $8.2M (revenue -58.8% year-over-year).
- 2019: Revenue of $346K, expenses of $777K, and assets of $8.9M (revenue -84.5% year-over-year).
- 2015: Revenue of $2.2M, expenses of $1.7M, and assets of $10.0M (revenue +330.3% year-over-year).
- 2014: Revenue of $521K, expenses of $832K, and assets of $11.6M (revenue -11.8% year-over-year).
- 2013: Revenue of $590K, expenses of $1.2M, and assets of $10.0M (revenue +9.7% year-over-year).
- 2012: Revenue of $538K, expenses of $2.0M, and assets of $10.4M (revenue -81.0% year-over-year).
- 2011: Revenue of $2.8M, expenses of $2.3M, and assets of $11.8M.
Data Sources and Methodology
This transparency report for The Penates Foundation 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.