Civic Intelligence

Pal Fund Association

990 • Fiscal year 2021 • EIN 23-7052818

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 28, 2022

Organization ProfileWWW.PALFUNDHOUSING.COM
PO Box 187Linesville, PA 16424

(814) 337-5965

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.31x

Higher debt load relative to assets than 78% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

94th percentile

2.95x

Higher debt load relative to revenue than 94% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Net Margin

66th percentile

27%

Higher net margin than 66% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

73rd percentile

$19,170

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 9.9% of source-year revenue.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Asset Growth

35th percentile

1.8%

Faster asset growth than 35% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

33rd percentile

-1.5%

Faster revenue growth than 33% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$1,849,981

Up $32,519 (+1.8%) from 2020

Net Assets

Up

$1,276,760

Up $51,561 (+4.2%) from 2020

Liabilities

Down

$573,221

Down $19,042 (-3.2%) from 2020

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin66th percentile

Revenue

Down

$194,363

Down $2,968 (-1.5%) from 2020

Expenses

Down

$142,802

Down $24,731 (-15%) from 2020

Net Income

Up

$51,561

Up $21,763 (+73%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2020: $1,817,462Liabilities 2020: $592,263Net Assets 2020: $1,225,1992020Assets 2021: $1,849,981Liabilities 2021: $573,221Net Assets 2021: $1,276,7602021Assets 2022: $1,886,469Liabilities 2022: $552,235Net Assets 2022: $1,334,2342022Assets 2023: $1,900,189Liabilities 2023: $529,091Net Assets 2023: $1,371,0982023Assets 2024: $1,909,538Liabilities 2024: $504,167Net Assets 2024: $1,405,3712024

Highlighted filing

2021

Assets$1,849,981
Liabilities$573,221
Net Assets$1,276,760
Open 2021 Filing

Operations Trend

Revenue Growth33rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0Revenue 2020: $197,331Expenses 2020: $167,533Net Income 2020: $29,7982020Revenue 2021: $194,363Expenses 2021: $142,802Net Income 2021: $51,5612021Revenue 2022: $194,638Expenses 2022: $137,164Net Income 2022: $57,4742022Revenue 2023: $202,462Expenses 2023: $165,598Net Income 2023: $36,8642023Revenue 2024: $225,101Expenses 2024: $190,828Net Income 2024: $34,2732024

Highlighted filing

2021

Revenue$194,363
Expenses$142,802
Net Income$51,561
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 28, 2022
Return Version
2021v4.2
Gross Receipts
$194,363
Mission and Program Overview

Mission

To provide low income housing based on usda - rural development subsidies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,273,864$1,273,864→ $0
Savings and Temporary Cash Investments$401,647$405,471▲ $3,824
Cash and Non-Interest-Bearing Accounts$141,951$170,646▲ $28,695
Total Assets$1,817,462$1,849,981▲ $32,519
Liabilities
Mortgage Notes Payable Secured by Investment Property$592,263$573,221▼ $19,042
Total Liabilities$592,263$573,221▼ $19,042
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,225,199$1,276,760▲ $51,561
Total Net Assets Fund Balance$1,225,199$1,276,760▲ $51,561
Total Liabilities and Net Assets / Fund Balance$1,817,462$1,849,981▲ $32,519

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,181,130-$1,181,130
Land$73,524-$73,524
Other Land Buildings$19,210-$19,210
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
John BeagleBusiness ManagerPT$19,170$19,170

Board Members and Trustees

NameTitle
Rita MarwoodPresident
Greg JonesVice President
Carol MyersBoard Member
David RayBoard Member
Jon MerryBoard Member
Susan ScheppelmannBoard Member
William WalkerBoard Member
Anita HansSecretary
Kevin RoyalTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$190,456
Investment Income
$3,907
Other Revenue
$0
Change in Net Assets
$51,561

Audited Revenue Reconciliation

Revenue per Audited Statements
$194,363
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$44,932
Total Revenue per Audited Statements
$239,295
Total Revenue per Form 990
$194,363
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$123,632
Salaries, Compensation, and Employee Benefits$19,170
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$5,772$13,398-$19,170
All Other Expenses$12,944$2,990-$15,934
Other Expenses$12,915--$12,915
Fees for Services Legal-$8,380-$8,380
Interest$6,743--$6,743
Office Expenses-$680-$680
Advertising-$158-$158
Total Functional Expenses$117,196$25,606$0$142,802

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$187,734
Expenses per Audited Statements$142,802
Total Expenses per Form 990$142,802
Expenses Not Reported on Form 990$44,932
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no separate committees. All decisions are made by the board.”

Form 990, Part VI, Section B, Line 11B

“A copy of the 990 will be reviewed by the board members before the 990 is filed.”

Form 990, Part VI, Section B, Line 15

“There are no employees. Non employee compensation is determined and approved by the board of directors. These amounts are comparable to information available for similar positions.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public at its business office during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Pal Fund Association
EIN
23-7052818
Phone
8143375965
Address
PO BOX 187, LINESVILLE, PA 16424

Signing Officer

Name
Rita Marwood
Title
President
Phone
8143375965
Signed
2022-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rita Marwood
Formed
1965
Legal Domicile
Pa
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Black Bashor & Porsch Llp
Address
270 EAST CONNELLY BOULEVARD, SHARON, PA 16146
Preparer
Gregory J Koch CPA
Phone
7249817510
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Mortgage note late fees: program service expenses 8,156. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,156. Utilities: program service expenses 4,788. Management and general expenses 1,700. Fundraising expenses 0. Total expenses 6,488. Miscellaneous: program service expenses 0. Management and general expenses 1,290. Fundraising expenses 0. Total expenses 1,290.”

Part XII Question 2C

“Board of directors assumes responsibility for the oversight of the audit and selection of an independent accountant.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“INTEREST SUBSIDY 44,932.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“INTEREST SUBSIDY 44,932.”

Raw XML Appendix374 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INTEREST SUBSIDY 44,932.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO SEPARATE COMMITTEES. ALL DECISIONS ARE MADE BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 WILL BE REVIEWED BY THE BOARD MEMBERS BEFORE THE 990 IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO EMPLOYEES. NON EMPLOYEE COMPENSATION IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. THESE AMOUNTS ARE COMPARABLE TO INFORMATION AVAILABLE FOR SIMILAR POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AT ITS BUSINESS OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MORTGAGE NOTE LATE FEES: PROGRAM SERVICE EXPENSES 8,156. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,156. UTILITIES: PROGRAM SERVICE EXPENSES 4,788. MANAGEMENT AND GENERAL EXPENSES 1,700. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,488. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,290. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,290.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART XII QUESTION 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01817462
IRS990/TotalAssetsEOYAmt01849981
IRS990/TotalAssetsGrp/BOYAmt01817462
IRS990/TotalAssetsGrp/EOYAmt01849981
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt025606
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0117196
IRS990/TotalFunctionalExpensesGrp/TotalAmt0142802
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0592263
IRS990/TotalLiabilitiesEOYAmt0573221
IRS990/TotalLiabilitiesGrp/BOYAmt0592263
IRS990/TotalLiabilitiesGrp/EOYAmt0573221
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01225199
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01276760
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0117196
IRS990/TotalProgramServiceRevenueAmt0190456
IRS990/TotalReportableCompFromOrgAmt019170
IRS990/TotalRevenueGrp/ExclusionAmt03907
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0190456
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0194363
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01817462
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01849981
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 187
IRS990/USAddress/CityNm0LINESVILLE
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd016424
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.PALFUNDHOUSING.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RITA MARWOOD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08143375965
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PAL FUND ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0PALF
ReturnHeader/Filer/EIN0237052818
ReturnHeader/Filer/PhoneNum08143375965
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 187
ReturnHeader/Filer/USAddress/CityNm0LINESVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd016424
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0251304135
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BLACK BASHOR & PORSCH LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0270 EAST CONNELLY BOULEVARD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SHARON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd016146
ReturnHeader/PreparerPersonGrp/PhoneNum07249817510
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GREGORY J KOCH CPA
ReturnHeader/ReturnTs02022-05-03T15:01:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RITA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MARWOOD
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,849,981
Liabilities
$573,221
Net assets
$1,276,760
Revenue
$194,363
Expenses
$142,802
Net income
$51,561
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.91$0.50$1.41$0.23$0.19$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.90$0.53$1.37$0.20$0.17$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.89$0.55$1.33$0.19$0.14$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.85$0.57$1.28$0.19$0.14$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.82$0.59$1.23$0.20$0.17$0.03