Civic Intelligence

Sp 1600 Penn Foundation

EIN 45-2662134 • 501(c)3 • Dallas, TX

Profile

Sp 1600 penn foundation is organized to operate exclusively for charitable or education purposes within the meaning of section 501(c)(3), more specifically and in furtherance of these purposes, the corporation is organized and operated exclusively to benefit st. Philip's school and community center and its' 501(c)(3) purposes.

1600 Pennsylvania AvenueDallas, TX 75215

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

51st percentile

0.13x

Higher debt load relative to assets than 51% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.41x

Higher debt load relative to revenue than 71% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

97th percentile

87%

Higher net margin than 97% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

74th percentile

$201,513

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

95th percentile

88%

Faster asset growth than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

94th percentile

144%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$7,662,687

Up $3,584,962 (+88%) from 2023

Liabilities

Up

$1,021,534

Up $1,002,043 (+5141%) from 2023

Net Assets

Up

$6,641,153

Up $2,582,919 (+64%) from 2023

Operations
Liabilities / Revenue71st percentileNet Margin97th percentile

Revenue

Up

$2,486,158

Up $1,466,220 (+144%) from 2023

Expenses

Up

$329,971

Up $35,609 (+12%) from 2023

Net Income

Up

$2,156,187

Up $1,430,611 (+197%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth95th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2014: $26,327Liabilities 2014: $02014Assets 2015: $26,327Net Assets 2015: $26,3272015Assets 2016: $28,327Net Assets 2016: $28,3272016Assets 2017: $63,373Liabilities 2017: $0Net Assets 2017: $63,3732017Assets 2018: $582,794Liabilities 2018: $0Net Assets 2018: $582,7942018Assets 2019: $2,622,626Liabilities 2019: $0Net Assets 2019: $2,622,6262019Assets 2020: $3,400,714Liabilities 2020: $0Net Assets 2020: $3,400,7142020Assets 2021: $2,967,922Liabilities 2021: $8,390Net Assets 2021: $2,959,5322021Assets 2022: $2,886,123Liabilities 2022: $9,090Net Assets 2022: $2,877,0332022Assets 2023: $4,077,725Liabilities 2023: $19,491Net Assets 2023: $4,058,2342023Assets 2024: $7,662,687Liabilities 2024: $1,021,534Net Assets 2024: $6,641,1532024

Highlighted filing

2024

Assets$7,662,687
Liabilities$1,021,534
Net Assets$6,641,153
Open 2024 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $0Expenses 2014: $173Net Income 2014: -$1732014Revenue 2017: $1Expenses 2017: $0Net Income 2017: $12017Revenue 2018: $10Expenses 2018: $8,930Net Income 2018: -$8,9202018Revenue 2019: $21,600Expenses 2019: $97,669Net Income 2019: -$76,0692019Revenue 2020: $232,485Expenses 2020: $253,822Net Income 2020: -$21,3372020Revenue 2021: $197,169Expenses 2021: $307,858Net Income 2021: -$110,6892021Revenue 2022: $307,687Expenses 2022: $424,304Net Income 2022: -$116,6172022Revenue 2023: $1,019,938Expenses 2023: $294,362Net Income 2023: $725,5762023Revenue 2024: $2,486,158Expenses 2024: $329,971Net Income 2024: $2,156,1872024

Highlighted filing

2024

Revenue$2,486,158
Expenses$329,971
Net Income$2,156,187
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$7,662,687
Liabilities
$1,021,534
Net assets
$6,641,153
Revenue
$2,486,158
Expenses
$329,971
Net income
$2,156,187
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.66$1.02$6.64$2.49$0.33$2.16
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.08$0.02$4.06$1.02$0.29$0.73
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.89$0.01$2.88$0.31$0.42$0.12
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.97$0.01$2.96$0.20$0.31$0.11
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.40$0.00$3.40$0.23$0.25$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.62$0.00$2.62$0.02$0.10$0.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.00$0.58$0.00$0.01$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.00$0.06$0.00$0.00$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.03$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.03$0.03
2014Summary only. Only limited summary data is available for this year.$0.03$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 30, 2025
Return Version
2023v6.0
Gross Receipts
$2,486,158
Mission and Program Overview

Mission

Sp 1600 penn foundation is organized to operate exclusively for charitable or education purposes within the meaning of section 501(c)(3), more specifically and in furtherance of these purposes, the corporation is organized and operated exclusively to benefit st. Philip's school and community center and its 501(c)(3) purposes.

Support st. Philip's school and community center through acquiring, owning, developing, operating physical infrastructure, making these assets accessible by, and available to the school and its community center.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,050,412$7,523,199▲ $3,472,787
Cash and Non-Interest-Bearing Accounts$10,994$130,565▲ $119,571
Prepaid Expenses and Deferred Charges$5,454$0▼ $5,454
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$4,077,725$7,662,687▲ $3,584,962
Other Assets Total$10,865$8,923▼ $1,942
Liabilities
Unsecured Notes Loans Payable$9,080$908,846▲ $899,766
Accounts Payable and Accrued Expenses-$112,688-
Other Liabilities$10,411--
Total Liabilities$19,491$1,021,534▲ $1,002,043
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,058,234$6,641,153▲ $2,582,919
Total Net Assets Fund Balance$4,058,234$6,641,153▲ $2,582,919
Total Liabilities and Net Assets / Fund Balance$4,077,725$7,662,687▲ $3,584,962

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,858,276-$2,858,276
Buildings$2,403,172$409,514$2,812,686
Other Land Buildings$2,261,751-$2,261,751
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleOtherTotal
Neal Choate-thru 122023CFO$133,876$133,876

Board Members and Trustees

NameTitle
Dr Terry FlowersPresident
Dan StansburyTrustee
Sherrelle Evans-jonesTrustee
Kawana Moore-from 42024CFO
Bob MarshallSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Simply CustomConstruction737 S RL THORNTON FWY SVC RD, Dallas, TX 75203$710,913
Santec Consulting Services INCConsulting6080 TENNYSON PKWY STE 200, Plano, TX 75024$424,954
Revenue and Support

Revenue Composition

Contributions and Grants
$2,238,615
Program Service Revenue
$236,530
Investment Income
$0
Other Revenue
$11,013
Change in Net Assets
$2,156,187
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$329,971
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$92,106--$92,106
Other Expenses$51,912$14,026-$51,912
Occupancy$45,315--$45,315
Insurance$36,256--$36,256
Fees for Services Other$12,550$3-$12,553
Total Functional Expenses$315,942$14,029$0$329,971
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Electronic copies are provided to the board of directors for review prior to filing form 990.”

Form 990, Part VI, Section C, Line 19

“Governing documents are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Sp 1600 Penn Foundation
EIN
45-2662134
Phone
2144215221
Address
1600 PENNSYLVANIA AVENUE, DALLAS, TX 75215

Signing Officer

Name
Dr Terry Flowers
Title
President
Signed
2025-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Terry Flowers
Formed
2009
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Sutton Frost Cary LLP
Address
200 E Front St Suite 200, Arlington, TX 76011
Preparer
Carroll Elizabeth Arnott
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Penn Foundation IS exempt from federal Section 501(c)(3) of the Internal Revenue Code (IRC) and therefore a provision for federal income taxes has not been recorded. However, these entities are subject to federal excise tax and unrelated business income taxes. In addition, these entities have been determined by the Internal Revenue Service (IRS) to be public charities within the meaning of Section 509(a) of the IRC. There were no unrelated business income or federal excise taxes for the year ended June 30, 2024.WFMF, WFMF MLK and 1632 MLK are disregarded entities for income tax purposes and are included with the activity of the Penn Foundation for tax reporting purposes. GAAP requires the evaluation of tax positions taken in the course of preparing the Organizations tax returns and recognition of a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the Organization, and has concluded that as of June 30, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the combined financial statements.”

Raw XML AppendixShowing 400 of 507 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/EmployeeCnt00
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IRS990/ExpenseAmt0315942
IRS990/FamilyOrBusinessRlnInd0false
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Penn Foundation IS exempt from federal Section 501(c)(3) of the Internal Revenue Code (IRC) and therefore a provision for federal income taxes has not been recorded. However, these entities are subject to federal excise tax and unrelated business income taxes. In addition, these entities have been determined by the Internal Revenue Service (IRS) to be public charities within the meaning of Section 509(a) of the IRC. There were no unrelated business income or federal excise taxes for the year ended June 30, 2024.WFMF, WFMF MLK and 1632 MLK are disregarded entities for income tax purposes and are included with the activity of the Penn Foundation for tax reporting purposes. GAAP requires the evaluation of tax positions taken in the course of preparing the Organizations tax returns and recognition of a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the Organization, and has concluded that as of June 30, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the combined financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt010113
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DR TERRY FLOWERS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ELECTRONIC COPIES ARE PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0SP 1600 PENN FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1SP 1600 PENN FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2SP 1600 PENN FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0WFMF MLK LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1WFMF LLC
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IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0REAL ESTATE ACQUISITION
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1REAL ESTATE ACQUISITION
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt2REAL ESTATE ACQUISITION
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt01600 PENNSYLVANIA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt11600 PENNSLYVANIA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt21600 PENNSYLVANIA
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SPSCC FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1ST PHILIPS SCHOOL & COMMUNITY CENTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt21600 PENNSYLVANIA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0752703544
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1751097360
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2270705178
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2FACILITIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 12A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 2

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