Civic Intelligence

Penny Forward Inc.

990EZ • Fiscal year 2023 • EIN 87-2376924

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 06, 2024

Organization Profilehttps: pennyforward.com
202 Cedar Ave N Ste 1Owatonna, MN 55060

(507) 271-9250

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.15x

Higher debt load relative to assets than 82% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

80th percentile

0.06x

Higher debt load relative to revenue than 80% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

67th percentile

14%

Higher net margin than 67% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

91st percentile

94%

Faster asset growth than 91% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

2112%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$39,577

Up $19,202 (+94%) from 2022

Net Assets

Up

$33,549

Up $13,174 (+65%) from 2022

Liabilities

Up

$6,028

Up $6,028 from 2022

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin67th percentile

Revenue

Up

$93,793

Up $89,552 (+2112%) from 2022

Expenses

Up

$80,619

Up $80,619 from 2022

Net Income

Up

$13,174

Up $8,933 (+211%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$80K$60K$40K$20K$0Assets 2021: $4,979Liabilities 2021: $0Net Assets 2021: $4,9792021Assets 2022: $20,375Liabilities 2022: $0Net Assets 2022: $20,3752022Assets 2023: $39,577Liabilities 2023: $6,028Net Assets 2023: $33,5492023Assets 2024: $60,864Liabilities 2024: $7,935Net Assets 2024: $52,9292024

Highlighted filing

2023

Assets$39,577
Liabilities$6,028
Net Assets$33,549
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

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

$200K$150K$100K$50K$0Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $4,241Expenses 2022: $0Net Income 2022: $4,2412022Revenue 2023: $93,793Expenses 2023: $80,619Net Income 2023: $13,1742023Revenue 2024: $199,411Expenses 2024: $180,031Net Income 2024: $19,3802024

Highlighted filing

2023

Revenue$93,793
Expenses$80,619
Net Income$13,174
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 6, 2024
Return Version
2023v4.0
Gross Receipts
$93,793
Mission and Program Overview

Mission

Penny Forward is a 501C3 nonprofit organization founded and led by blind people. Through education mentoring and mutual support we help each other learn to confidently navigate the complicated landscape of personal finance. We offer self-paced online financial education courses weekly and monthly personal finance workshops and one to one financial counseling provided by blind financial counselors.

Program Services

DescriptionGrantsExpenses
52 hours of Weekly financial education workshops benefited 179 people in 2023.$0$7,800
Our web site and podcast contain a wealth of free financial education resources open to the public. We estimate that our web site served over 8,500 unique visiters and our podcast served over 6,000 unique listeners in 2023.$0$6,388
Self paced online financial education courses benefited 179 members in 2023.$0$4,000
12 hours of public webinars benefited 120 people in 2023.$0$1,800
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth BottnerVice PresidentPT$0--
Charles YarberryTreasurerPT$0--
Christopher PetersonPresidentPT$0--
Filing and Contact Details

Filer

Filer Name
Penny Forward Inc
EIN
87-2376924
In Care Of
% Christopher Peterson
Address
202 CEDAR AVE N STE 1, Owatonna, MN 55060

Signing Officer

Name
Christopher Peterson
Title
President
Signed
2024-02-06
Discuss with paid preparer
No
Supplemental Narrative

Additional Explanations

Item J

“| As we were new we didn't understand the difference between cash and accrual.|”

Doing Business As Names

“Penny Forward”

Part I, line 8

“| Other Revenues:, Amount:| Miscellaneous Revenue - Dispute Refundsopens in new tab, $109| Miscellaneous Revenue, $698|”

Part I, line 16

“| Other Expenses:, Amount:| Accounting Fees, $1958.85| Cloud storage, $188.96| Computer - Software, $988.20| Continuing Education, $879.00| Meals & Entertainment, $134.94| Merchant Account Fees, $190.41| Mobile App - Apple Account, $106.30| Mobile App - Google Developer Account, $25.00| Mobile App - Mobiloud, $4030.00| Mobile app - AppPresser, $11948.00| Office Supplies, $759.48| Organization memberships, $1162.20| Payroll - Wave Fees, $653.00| Podcast - Production, $380.31| Podcast Hosting, $240.00| Postage & Delivery, $782.70| Promotions, $175.00| Registered Agent Fees, $225.00| Stripe Processing Fee, $267.26| Taxes - Corporate Tax, $158.00| Travel Expense, $11368.68| Web - LearnDash, $213.98| Web - Updraft Plus, $70.00| Web MemberPress, $599.00| Web My Calendar Pro, $59.00| Web WP Courseware, $129.00| marketing, $14244.49| web development, $2374.88| web hosting, $778.47| web testing, $448.88|”

Part II, line 24

“| Asset Name:, BOY Amount:, EOY Amount:| Other Assets, $3225, $2963|”

Part II, line 26

“| Liabilities Name:, BOY Amount:, EOY Amount:| Accounts Payable, $527, $6028|”

Raw XML Appendix230 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.

Path#Value
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IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine2Txt0STE 1
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0Owatonna
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2Christopher Peterson
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0Vice President
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Treasurer
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IRS990EZ/OtherRevenueTotalAmt0807
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IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0Penny Forward is a 501C3 nonprofit organization founded and led by blind people. Through education mentoring and mutual support we help each other learn to confidently navigate the complicated landscape of personal finance. We offer self-paced online financial education courses weekly and monthly personal finance workshops and one to one financial counseling provided by blind financial counselors.
IRS990EZ/ProgramServiceRevenueAmt059395
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0Self paced online financial education courses benefited 179 members in 2023.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt152 hours of Weekly financial education workshops benefited 179 people in 2023.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt212 hours of public webinars benefited 120 people in 2023.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt3Our web site and podcast contain a wealth of free financial education resources open to the public. We estimate that our web site served over 8,500 unique visiters and our podcast served over 6,000 unique listeners in 2023.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt00
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IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt20
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt30
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt04000
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt17800
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt21800
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt36388
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
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IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt080619
IRS990EZ/TotalProgramServiceExpensesAmt019988
IRS990EZ/TotalRevenueAmt093793
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0https: pennyforward.com
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt00
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0| S.No:, Amount:, Description:| 1, $109, Miscellaneous Revenue - Dispute Refundsopens in new tab| 2, $698, Miscellaneous Revenue|
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part III, line 12
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt033022
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt037433
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0807
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt038240
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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0| As we were new we didn't understand the difference between cash and accrual.|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Penny Forward
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2| Other Revenues:, Amount:| Miscellaneous Revenue - Dispute Refundsopens in new tab, $109| Miscellaneous Revenue, $698|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3| Other Expenses:, Amount:| Accounting Fees, $1958.85| Cloud storage, $188.96| Computer - Software, $988.20| Continuing Education, $879.00| Meals & Entertainment, $134.94| Merchant Account Fees, $190.41| Mobile App - Apple Account, $106.30| Mobile App - Google Developer Account, $25.00| Mobile App - Mobiloud, $4030.00| Mobile app - AppPresser, $11948.00| Office Supplies, $759.48| Organization memberships, $1162.20| Payroll - Wave Fees, $653.00| Podcast - Production, $380.31| Podcast Hosting, $240.00| Postage & Delivery, $782.70| Promotions, $175.00| Registered Agent Fees, $225.00| Stripe Processing Fee, $267.26| Taxes - Corporate Tax, $158.00| Travel Expense, $11368.68| Web - LearnDash, $213.98| Web - Updraft Plus, $70.00| Web MemberPress, $599.00| Web My Calendar Pro, $59.00| Web WP Courseware, $129.00| marketing, $14244.49| web development, $2374.88| web hosting, $778.47| web testing, $448.88|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4| Asset Name:, BOY Amount:, EOY Amount:| Other Assets, $3225, $2963|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5| Liabilities Name:, BOY Amount:, EOY Amount:| Accounts Payable, $527, $6028|
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Item J
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Doing Business As Names
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part I, line 8
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part I, line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part II, line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Part II, line 26
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Christopher Peterson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PENNY FORWARD INC
ReturnHeader/Filer/BusinessNameControlTxt0PENN
ReturnHeader/Filer/EIN0872376924
ReturnHeader/Filer/ForeignPhoneNum08883325558
ReturnHeader/Filer/InCareOfNm0% Christopher Peterson
ReturnHeader/Filer/USAddress/AddressLine1Txt0202 CEDAR AVE N STE 1
ReturnHeader/Filer/USAddress/CityNm0Owatonna
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055060
ReturnHeader/ReturnTs02024-02-06T07:57:14-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$39,577
Liabilities
$6,028
Net assets
$33,549
Revenue
$93,793
Expenses
$80,619
Net income
$13,174
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.61$0.08$0.53$1.99$1.80$0.19
2023Detailed filing. Detailed filing data is available for this year.$0.40$0.06$0.34$0.94$0.81$0.13
2022Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.04$0.00$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$0.00$0.00$0.00