Civic Intelligence

The Penny Foundation

990 • Fiscal year 2021 • EIN 82-3036091

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 07, 2022

Organization Profilepennyfoundation.org
PO Box 13181Birmingham, AL 35203

(205) 677-8361

Siviq Scores

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

Liabilities / Assets

29th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

29th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

83rd percentile

43%

Higher net margin than 83% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

97th percentile

299%

Faster asset growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

95th percentile

251%

Faster revenue growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$329,861

Up $247,162 (+299%) from 2020

Net Assets

Up

$329,861

Up $247,162 (+299%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin83rd percentile

Revenue

Up

$570,277

Up $408,007 (+251%) from 2020

Expenses

Up

$323,115

Up $225,561 (+231%) from 2020

Net Income

Up

$247,162

Up $182,446 (+282%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$1.0M$500K$0Assets 2018: $18,439Liabilities 2018: $1,833Net Assets 2018: $16,6062018Assets 2019: $17,983Liabilities 2019: $0Net Assets 2019: $17,9832019Assets 2020: $82,699Liabilities 2020: $0Net Assets 2020: $82,6992020Assets 2021: $329,861Liabilities 2021: $0Net Assets 2021: $329,8612021Assets 2022: $590,814Liabilities 2022: $6,346Net Assets 2022: $584,4682022Assets 2023: $761,552Liabilities 2023: $19,162Net Assets 2023: $742,3902023Assets 2024: $828,543Liabilities 2024: $0Net Assets 2024: $828,5432024

Highlighted filing

2021

Assets$329,861
Liabilities$0
Net Assets$329,861
Open 2021 Filing

Operations Trend

Revenue Growth95th percentile

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

$10M$5.0M$0Revenue 2018: $23,960Expenses 2018: $7,354Net Income 2018: $16,6062018Revenue 2019: $62,458Expenses 2019: $61,081Net Income 2019: $1,3772019Revenue 2020: $162,270Expenses 2020: $97,554Net Income 2020: $64,7162020Revenue 2021: $570,277Expenses 2021: $323,115Net Income 2021: $247,1622021Revenue 2022: $1,697,715Expenses 2022: $1,443,108Net Income 2022: $254,6072022Revenue 2023: $2,677,136Expenses 2023: $2,519,214Net Income 2023: $157,9222023Revenue 2024: $8,600,524Expenses 2024: $8,514,371Net Income 2024: $86,1532024

Highlighted filing

2021

Revenue$570,277
Expenses$323,115
Net Income$247,162
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 7, 2022
Return Version
2021v4.2
Gross Receipts
$570,277
Mission and Program Overview

Mission

Eliminate economic inequality in AA Cmty

Eliminate economic inequality in the african american commuinty

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$82,699$255,703▲ $173,004
Savings and Temporary Cash Investments-$38,213-
Total Assets$82,699$329,861▲ $247,162
Other Assets Total-$35,945-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$82,699$329,861▲ $247,162
Total Net Assets Fund Balance$82,699$329,861▲ $247,162
Total Liabilities and Net Assets / Fund Balance$82,699$329,861▲ $247,162

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$35,945--
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Charlie GloverBoard Chair
Brittney TaylorBoard Member
Corey GreenBoard Member
Herschell HamiltonBoard Member
Janine SmithBoard Member
Khadijah AbdullahBoard Member
Lisa WilliamsBoard Member
Martha SimsBoard Member
Timothy B ClayBoard Member
Walter TurnerBoard Member
Lyord WastsonCEO
Revenue and Support

Revenue Composition

Contributions and Grants
$569,064
Program Service Revenue
$0
Investment Income
$1,213
Other Revenue
$0
All Other Contributions
$569,064
Change in Net Assets
$247,162

Audited Revenue Reconciliation

Revenue per Audited Statements
$570,277
Total Revenue per Audited Statements
$570,277
Total Revenue per Form 990
$570,277
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$279,937
Salaries, Compensation, and Employee Benefits$41,228
Grants and Similar Amounts Paid$1,950
Total Fundraising Expense$1,400
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$101,835--$101,835
Current Officers, Directors, Trustees, and Key Employees$38,250--$38,250
Fees for Services Other$33,779-$1,400$35,179
All Other Expenses$16,698--$16,698
Fees for Services Legal$10,368--$10,368
Office Expenses$4,751--$4,751
Payroll Taxes$2,978--$2,978
Grants to Domestic Orgs$1,950--$1,950
Conferences and Meetings$393--$393
Advertising$382--$382
Total Functional Expenses$321,715$0$1,400$323,115

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$323,115
Total Expenses per Audited Statements$323,115
Total Expenses per Form 990$323,115
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The 990 is reviewed by the board of directors prior to filing”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
The Penny Foundation
EIN
82-3036091
Phone
2056778361
Address
PO Box 13181, BIRMINGHAM, AL 35203

Signing Officer

Name
Lyord Watson
Title
Founder CEO
Phone
2056778361
Signed
2022-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lyord Watson
Formed
2018
Legal Domicile
Al
Voting Board Members
1
Independent Board Members
12
Employees
1

Preparer

Firm
Sheppard-harris & Associates Pc
Address
214 24TH STREET NORTH, BIRMINGHAM, AL 35203
Preparer
Connie S Harris
Phone
2053235922
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees are specialize services provide to the organizaiton”

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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt0818965
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0570277
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0162270
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt062458
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt023960
IRS990ScheduleA/Total509Grp/TotalAmt0818965
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0570277
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0162270
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt062458
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt023960
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0818965
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0323115
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt035945
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OTHER CURRENT ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0570277
IRS990ScheduleD/TotalBookValueOtherAssetsAmt035945
IRS990ScheduleD/TotalExpensesPerForm990Amt0323115
IRS990ScheduleD/TotalRevenuePerForm990Amt0570277
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0570277
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0323115
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROFESSIONAL FEES ARE SPECIALIZE SERVICES PROVIDE TO THE ORGANIZAITON
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt082699
IRS990/TotalAssetsEOYAmt0329861
IRS990/TotalAssetsGrp/BOYAmt082699
IRS990/TotalAssetsGrp/EOYAmt0329861
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0569064
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01400
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0321715
IRS990/TotalFunctionalExpensesGrp/TotalAmt0323115
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt082699
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0329861
IRS990/TotalProgramServiceExpensesAmt0321715
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0570277
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt082699
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0329861
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 13181
IRS990/USAddress/CityNm0BIRMINGHAM
IRS990/USAddress/StateAbbreviationCd0AL
IRS990/USAddress/ZIPCd035203
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0https://pennyfoundation.org/
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LYORD WATSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDER CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02056778361
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PENNY FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0PENN
ReturnHeader/Filer/EIN0823036091
ReturnHeader/Filer/PhoneNum02056778361
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 13181
ReturnHeader/Filer/USAddress/CityNm0BIRMINGHAM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd035203
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0631100930
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHEPPARD-HARRIS & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0214 24TH STREET NORTH

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Filings

Displayed year

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

Open filing
Assets
$329,861
Liabilities
$0
Net assets
$329,861
Revenue
$570,277
Expenses
$323,115
Net income
$247,162
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.83$0.00$0.83$8.60$8.51$0.09
2023Detailed filing. Detailed filing data is available for this year.$0.76$0.02$0.74$2.68$2.52$0.16
2022Detailed filing. Detailed filing data is available for this year.$0.59$0.01$0.58$1.70$1.44$0.25
2021Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.57$0.32$0.25
2020Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.16$0.10$0.06
2019Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.06$0.06$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.02$0.01$0.02