Pencil Inc is located in New York, NY. The organization was established in 1995. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Pencil Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pencil Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Pencil Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SINCE 1995, WEVE PLAYED A CRITICAL ROLE IN BRINGING TOGETHER BUSINESS PROFESSIONALS, EDUCATORS, AND STUDENTS TO OPEN EYES, OPEN MINDS, AND OPEN DOORS. BY DOING SO, WE CONNECT STUDENTS TO SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, PENCIL CONNECTED 5,394 NYC STUDENTS TO 1,100 VOLUNTEERS AND MENTORS FROM 177 BUSINESS. PENCIL HELD ALL PROGRAMMING VIRTUALLY AS A RESULT OF THE ON-GOING COVID-19 PANDEMIC. PENCILS PARTNERSHIP PROGRAM SERVED 1,012 STUDENTS ACROSS 33 NEW YORK CITY PUBLIC SCHOOLS BY LEVERAGING THE TALENTS AND RESOURCES OF NYCS BUSINESS COMMUNITY TO IMPROVE STUDENTS COLLEGE AND CAREER READINESS. THESE PARTNERSHIPS WERE SUPPORTED BY 534 VOLUNTEERS FROM 27 COMPANIES. 75% OF STUDENTS SAW IMPROVEMENT IN ONE OR MORE OF PENCILS KEYS TO SUCCESS. ANALYSIS OF SESSION FEEDBACK SHOWED:90% OF SURVEYED STUDENTS FELT MORE CONFIDENT INTRODUCING THEMSELVES IN A PROFESSIONAL SETTING97% FELT MORE CONFIDENT THEY COULD SUCCESSFULLY INTERVIEW FOR A JOB95% AGREED THAT WORKING WITH MENTORS HELPED THEM BETTER UNDERSTAND THE OPTIONS THEY HAVE AFTER THEY GRADUATE97% UNDERSTOOD HOW THEIR PROFESSIONAL BRAND COULD INFLUENCE THEIR CAREER PATH WITH THE SUPPORT OF 207 VOLUNTEERS FROM 56 BUSINESSES, PENCIL SERVED OVER 1,115 STUDENTS THROUGH OPEN-SOURCE SESSIONS. OPEN TO ALL STUDENTS FROM OUR PARTNER SCHOOLS, THESE 79 VIRTUAL SESSIONS FILLED A GAP IN INSTRUCTION DURING NEW YORK CITYS TRANSITION TO DISTANCE LEARNING AND PROVIDED ACCESS TO CORPORATE VOLUNTEERS THAT TEACHERS COULD NOT ACHIEVE ALONE. 96% OF SURVEYED STUDENTS AGREED THAT THE SESSION HELPED THEM THINK ABOUT FUTURE ASPIRATIONS97% OF STUDENTS FELT MORE CONFIDENT THAT THEY COULD SUCCEED AFTER GRADUATION. PENCIL VIRTUALLY HOSTED PRINCIPAL FOR A DAY THE WEEK OF APRIL 26TH. THESE EVENTS CREATED SPACE FOR SCHOOL PRINCIPALS AND BUSINESS EXECUTIVES TO LEARN FROM ONE ANOTHER AND REFLECT ON THE IMPACT OF THE PANDEMIC, VIRTUAL WORK AND LEARNING, AND THE INCREASED ATTENTION TO INJUSTICE AND SYSTEMIC RACISM. OVER 27 EXECUTIVES CONNECTED WITH 22 SCHOOLS SUPPORTING AN ESTIMATED 301 TEACHERS AND 2,502 STUDENTS THROUGH THESE INTERACTIVE SESSIONS.OVER THE SUMMER, PENCIL PLACED 346 STUDENTS IN INTERNSHIP AND OTHER PAID WORK-BASED EXPERIENCES. PENCIL PLACED 269 STUDENTS IN SIX-WEEK REMOTE OR IN-PERSON INTERNSHIPS AT 101 BUSINESSES ACROSS NEW YORK CITY. PENCIL PROVIDED 76 ADDITIONAL STUDENTS WITH VIRTUAL PAID WORK-BASED EXPERIENCES THROUGH TWO PROGRAMS (CAREER EXPLORERS, AND NYC TECH). AN ADDITIONAL 690 STUDENTS ALSO RECEIVED COLLEGE AND CAREER TRAINING THROUGH PENCIL'S PROGRAMS. OVERALL, 422 VOLUNTEERS FROM 26 COMPANIES PARTICIPATED IN 93 VIRTUAL TRAINING EVENTS TO CONNECT STUDENTS TO SUCCESS.OF THE 2021 SUMMER COHORT, 90% OF STUDENTS SAW IMPROVEMENT IN ONE OR MORE OF PENCILS KEYS TO SUCCESS. IN TOTAL, PARTICIPANTS RECEIVED OVER $778,000 IN WAGES. BUSINESS MENTORS AND STUDENT INTERNS ALSO REPORT THAT THE INTERNSHIP PROGRAM HAD A POSITIVE IMPACT ON PARTICIPANTS COMMUNICATION SKILLS, NETWORKING SKILLS, PROFESSIONAL SKILLS, AND THEIR CAREER AWARENESS AND PLANNING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Gregg Betheil President | Officer | 40 | $220,824 |
Jessica Bynoe Chief Strat Off | Officer | 40 | $177,714 |
Marilyn Fogarty VP Of Fin&admin | Officer | 40 | $135,450 |
Katje King Sr. Program Off. | 40 | $114,285 | |
Lewis Warren Jr Vice Chair | OfficerTrustee | 2 | $0 |
Susan Cosgrove Vice Chair | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $700,017 |
All other contributions, gifts, grants, and similar amounts not included above | $2,315,439 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $3,015,456 |
Total Program Service Revenue | $0 |
Investment income | $5,677 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $34,507 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,055,640 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $396,641 |
Compensation of current officers, directors, key employees. | $124,145 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,375,754 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $397,483 |
Payroll taxes | $3,730 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $25,030 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $70,998 |
Royalties | $0 |
Occupancy | $375,467 |
Travel | $4,629 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $9,538 |
Insurance | $27,465 |
All other expenses | $1,364 |
Total functional expenses | $2,725,067 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $365,648 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $602,549 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $12,121 |
Investments—publicly traded securities | $1,380,342 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $42,667 |
Total assets | $2,403,327 |
Accounts payable and accrued expenses | $26,543 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $16,703 |
Total liabilities | $43,246 |
Net assets without donor restrictions | $1,898,081 |
Net assets with donor restrictions | $462,000 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $2,403,327 |
Over the last fiscal year, we have identified 18 grants that Pencil Inc has recieved totaling $580,713.
Awarding Organization | Amount |
---|---|
Pinkerton Foundation New York, NY PURPOSE: CAREER READINESS | $175,000 |
Marketaxess Charitable Foundation New York, NY PURPOSE: BENEFIT THE UNDERSERVED IN COMMUNITIES WHERE MARKETAXESS EMPLOYEES LIVE OR WORK AND HELP SHAPE THE FUTURE OF FINANCIAL TECHNOLOGY. | $60,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $52,100 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $45,000 |
Weil Gots Hal & Manges Foundation Inc New York, NY PURPOSE: FELLOWSHIPS | $41,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $37,600 |
Organization Name | Assets | Revenue |
---|---|---|
Fund For Charitable Giving Pittsburgh, PA | $174,176,180 | $114,342,351 |
Hope For Youth Inc Amityville, NY | $10,865,800 | $14,335,992 |
Lauren And Lee Fixel Family Foundation Inc New York, NY | $40,185,371 | $21,974,777 |
Joy In Childhood Foundation Inc Canton, MA | $7,582,989 | $8,931,292 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Mccance Foundation Tr North Scituate, MA | $91,930,926 | $3,999,038 |
Childrens Dyslexia Centers Inc Lexington, MA | $70,604,540 | $15,265,584 |
North Central Area Agency On Aging Inc Hartford, CT | $1,856,134 | $6,505,484 |
Hampton Classic Horse Show Inc Bridgehampton, NY | $1,702,497 | $4,948,481 |
Peggy Mcgrath Rockefeller Foundation New York, NY | $16,278,993 | $1,905,197 |