Civic Intelligence

The Penny Foundation

990 • Fiscal year 2023 • EIN 82-3036091

Jan 01, 2023 to Dec 31, 2023 • Filed on May 15, 2024

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

39th percentile

0.03x

Higher debt load relative to assets than 39% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

25th percentile

0.01x

Higher debt load relative to revenue than 25% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

54th percentile

5.9%

Higher net margin than 54% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

82nd percentile

29%

Faster asset growth than 82% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

58%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$761,552

Up $170,738 (+29%) from 2022

Net Assets

Up

$742,390

Up $157,922 (+27%) from 2022

Liabilities

Up

$19,162

Up $12,816 (+202%) from 2022

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin54th percentile

Revenue

Up

$2,677,136

Up $979,421 (+58%) from 2022

Expenses

Up

$2,519,214

Up $1,076,106 (+75%) from 2022

Net Income

Down

$157,922

Down $96,685 (-38%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth82nd 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

2023

Assets$761,552
Liabilities$19,162
Net Assets$742,390
Open 2023 Filing

Operations Trend

Revenue Growth85th 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

2023

Revenue$2,677,136
Expenses$2,519,214
Net Income$157,922
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 15, 2024
Return Version
2023v5.1
Gross Receipts
$2,677,136
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$513,121$613,256▲ $100,135
Savings and Temporary Cash Investments$61,015$73,296▲ $12,281
Total Assets$590,814$761,552▲ $170,738
Other Assets Total$16,678$75,000▲ $58,322
Liabilities
Accounts Payable and Accrued Expenses$6,346$19,162▲ $12,816
Total Liabilities$6,346$19,162▲ $12,816
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$584,468$742,390▲ $157,922
Total Net Assets Fund Balance$584,468$742,390▲ $157,922
Total Liabilities and Net Assets / Fund Balance$590,814$761,552▲ $170,738

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$75,000--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Charlie GloverBoard Chair
Eboni LittleVice Chair
Bob DickersonBoard Member
Brittney TaylorBoard Member
Corey GreenBoard Member
Floresha WatkinsBoard Member
Herschell HamiltonBoard Member
Janine SmithBoard Member
John LongBoard Member
Julian GrantBoard Member
Khadijah AbdullahBoard Member
Martha SimsBoard Member
Maury RobinsonBoard Member
Walter TurnerBoard Member
Lyord WastsonCEO
Lisa WilliamsSecretary
Timothy B ClayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,669,880
Program Service Revenue
$0
Investment Income
$7,256
Other Revenue
$0
All Other Contributions
$2,669,880
Change in Net Assets
$157,922
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,397,395
Salaries, Compensation, and Employee Benefits$121,819
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$460,630--$460,630
Current Officers, Directors, Trustees, and Key Employees$91,762--$91,762
Payroll Taxes$30,057--$30,057
Fees for Services Other$22,241--$22,241
Advertising$2,959--$2,959
Office Expenses$2,731--$2,731
Conferences and Meetings$2,528--$2,528
Travel$860--$860
Fees for Services Accounting$800--$800
Total Functional Expenses$2,519,214$0$0$2,519,214
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
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
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
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lyord Watson
Formed
2018
Legal Domicile
Al
Voting Board Members
16
Independent Board Members
16
Employees
5

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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IRS990/OfficeExpensesGrp/ProgramServicesAmt02731
IRS990/OfficeExpensesGrp/TotalAmt02731
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt016678
IRS990/OtherAssetsTotalGrp/EOYAmt075000
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0PROGRAM/GRANT EXPENSES
IRS990/OtherExpensesGrp/Desc1FISCAL SPONSORSHIP ADMIN FEE
IRS990/OtherExpensesGrp/Desc2SOFTWARE
IRS990/OtherExpensesGrp/Desc3PARTICIPANT EXPENSES
IRS990/OtherExpensesGrp/ProgramServicesAmt01712076
IRS990/OtherExpensesGrp/ProgramServicesAmt1185198
IRS990/OtherExpensesGrp/ProgramServicesAmt27372
IRS990/OtherExpensesGrp/ProgramServicesAmt3460630
IRS990/OtherExpensesGrp/TotalAmt01712076
IRS990/OtherExpensesGrp/TotalAmt1185198
IRS990/OtherExpensesGrp/TotalAmt27372
IRS990/OtherExpensesGrp/TotalAmt3460630
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt030057
IRS990/PayrollTaxesGrp/TotalAmt030057
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliciesReferenceChaptersInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0LYORD WATSON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01690017
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt07698
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01120491
IRS990/PYRevenuesLessExpensesAmt0254607
IRS990/PYSalariesCompEmpBnftPaidAmt0322617
IRS990/PYTotalExpensesAmt01443108
IRS990/PYTotalRevenueAmt01697715
IRS990/QuidProQuoContributionsInd0false
IRS990/QuidProQuoContriDisclInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0157922
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02669880
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt061015
IRS990/SavingsAndTempCashInvstGrp/EOYAmt073296
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02677136
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01697715
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0570277
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0156290
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt062458
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt05163876
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus3YearsAmt05980
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt05980
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt05169856
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02677136
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01697715
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0570277
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0162270
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt062458
IRS990ScheduleA/Total509Grp/TotalAmt05169856
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02677136
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01697715
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0570277
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0162270
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt062458
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05169856
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/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt075000
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/TotalBookValueOtherAssetsAmt075000
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/TotalAssetsBOYAmt0590814
IRS990/TotalAssetsEOYAmt0761552
IRS990/TotalAssetsGrp/BOYAmt0590814

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$761,552
Liabilities
$19,162
Net assets
$742,390
Revenue
$2,677,136
Expenses
$2,519,214
Net income
$157,922
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