Civic Intelligence

Pal Fund Association

990 • Fiscal year 2023 • EIN 23-7052818

Jan 01, 2023 to Dec 31, 2023 • Filed on May 30, 2024

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

77th percentile

0.28x

Higher debt load relative to assets than 77% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

2.61x

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

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

64th percentile

18%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

71st percentile

$18,187

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

37th percentile

0.7%

Faster asset growth than 37% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

44th percentile

4.0%

Faster revenue growth than 44% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$1,900,189

Up $13,720 (+0.7%) from 2022

Net Assets

Up

$1,371,098

Up $36,864 (+2.8%) from 2022

Liabilities

Down

$529,091

Down $23,144 (-4.2%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin64th percentile

Revenue

Up

$202,462

Up $7,824 (+4.0%) from 2022

Expenses

Up

$165,598

Up $28,434 (+21%) from 2022

Net Income

Down

$36,864

Down $20,610 (-36%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth37th 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

2023

Assets$1,900,189
Liabilities$529,091
Net Assets$1,371,098
Open 2023 Filing

Operations Trend

Revenue Growth44th 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

2023

Revenue$202,462
Expenses$165,598
Net Income$36,864
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 30, 2024
Return Version
2023v5.0
Gross Receipts
$202,462
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$407,183$415,893▲ $8,710
Cash and Non-Interest-Bearing Accounts$205,422$210,432▲ $5,010
Total Assets$1,886,469$1,900,189▲ $13,720
Liabilities
Mortgage Notes Payable Secured by Investment Property$552,235$529,091▼ $23,144
Total Liabilities$552,235$529,091▼ $23,144
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,334,234$1,371,098▲ $36,864
Total Net Assets Fund Balance$1,334,234$1,371,098▲ $36,864
Total Liabilities and Net Assets / Fund Balance$1,886,469$1,900,189▲ $13,720

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 Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
John BeagleBusiness ManagerPT$18,187$18,187

Board Members and Trustees

NameTitle
Rita MarwoodPresident
Jon MerryVice President
Anita HansBoard Member
Cora MozinaBoard Member
David RayBoard Member
Patricia BaxterBoard Member
William WalkerBoard Member
Susan ScheppelmannSecretary
Kevin RoyalTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$193,548
Investment Income
$8,914
Other Revenue
$0
Change in Net Assets
$36,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$147,411
Salaries, Compensation, and Employee Benefits$18,187
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$3,498$14,689-$18,187
All Other Expenses$15,237$1,875-$17,112
Other Expenses$17,085--$17,085
Fees for Services Accounting-$9,420-$9,420
Interest$3,665--$3,665
Office Expenses-$1,469-$1,469
Advertising-$57-$57
Total Functional Expenses$138,088$27,510$0$165,598
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
Yes
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
2024-05-30
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 10,228. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,228. Utilities: program service expenses 5,009. Management and general expenses 1,775. Fundraising expenses 0. Total expenses 6,784. Miscellaneous: program service expenses 0. Management and general expenses 100. Fundraising expenses 0. Total expenses 100.”

Part XII Question 2C

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

Raw XML Appendix359 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/TitleTxt4BOARD MEMBER
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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 10,228. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,228. UTILITIES: PROGRAM SERVICE EXPENSES 5,009. MANAGEMENT AND GENERAL EXPENSES 1,775. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,784. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 100. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 100.
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
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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/TotalAssetsBOYAmt01886469
IRS990/TotalAssetsEOYAmt01900189
IRS990/TotalAssetsGrp/BOYAmt01886469
IRS990/TotalAssetsGrp/EOYAmt01900189
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt027510
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0138088
IRS990/TotalFunctionalExpensesGrp/TotalAmt0165598
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0552235
IRS990/TotalLiabilitiesEOYAmt0529091
IRS990/TotalLiabilitiesGrp/BOYAmt0552235
IRS990/TotalLiabilitiesGrp/EOYAmt0529091
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01334234
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01371098
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0138088
IRS990/TotalProgramServiceRevenueAmt0193548
IRS990/TotalReportableCompFromOrgAmt018187
IRS990/TotalRevenueGrp/ExclusionAmt08914
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0193548
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0202462
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01886469
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01900189
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/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RITA MARWOOD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08143375965
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-30
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/IRSResponsiblePrtyInfoCurrInd00
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/ReturnTs02024-06-17T08:33:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RITA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MARWOOD
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,900,189
Liabilities
$529,091
Net assets
$1,371,098
Revenue
$202,462
Expenses
$165,598
Net income
$36,864
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