Penn-Mar Foundation
- Assets
- $12.4m
- Revenue
- $3.4m
- Investments
- $10.2m
- Employees
- 0
- Location
- Freeland, MD
- Founding
- 12/1997
- Data as of
- 06/2021
- EIN
- 23-2854773
Organization Overview
Penn-Mar Foundation is located in Freeland, MD. The organization was established in 1997. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penn-Mar Foundation 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 06/2021, Penn-Mar Foundation generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.4% each year . All expenses for the organization totaled $653.9k during the year ending 06/2021. While expenses have increased by 3.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Penn-Mar Foundation has awarded 14 individual grants totaling $2,592,490. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE GIFTS, GRANTS, LOANS, ETC. OF ANY OF ITS PROPERTY TO OR FOR THE BENEFIT OF PENN-MAR ORGANIZATION, INC. (OF MARYLAND) AND PENN-MAR ORGANIZATION, INC. (OF PENNSYLVANIA), BOTH 501 (C) (3) ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RECEIVED CONTRIBUTIONS IN THE CURRENT YEAR THAT WILL BE USED FOR THE BENEFIT OF PENN-MAR ORGANIZATION, INC. (OF MARYLAND) AND PENN-MAR ORGANIZATION, INC. (OF PENNSYLVANIA)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Gallo Chairman | OfficerTrustee | 1 | $0 |
Timothy Chase Investment Committee Chair | OfficerTrustee | 1 | $0 |
Jill Golueke Secretary | OfficerTrustee | 1 | $0 |
Jonathan Kinsley Treasurer | OfficerTrustee | 1 | $0 |
Elizabeth Pitts-Madonna Vice-Chairman | OfficerTrustee | 1 | $0 |
Gregory T Miller CEO | Officer | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $492,146 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,297,093 |
| Noncash contributions included in lines 1a–1f | $34,689 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,789,239 |
| Total Program Service Revenue | $0 |
| Investment income | $106,636 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $476,767 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,372,642 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $420,636 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,459 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $133,000 |
| Fees for services: Investment Management | $28,813 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $653,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $419,822 |
| Savings and temporary cash investments | $489,629 |
| Pledges and grants receivable | $1,216,911 |
| 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 | $9,993 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,227,205 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,363,560 |
| Accounts payable and accrued expenses | $26,370 |
| 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 | $58,229 |
| Total liabilities | $84,599 |
| Net assets without donor restrictions | $8,236,978 |
| Net assets with donor restrictions | $4,041,983 |
| 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 | $12,363,560 |
Grants Awarded
Over the last fiscal year, Penn-Mar Foundation has awarded $420,636 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Freeland, MD PURPOSE: TO ASSIST RECIPIENT ORGANIZATION IN PURSUIT OF ITS TAX-EXEMPT PURPOSE. | $349,995 |
Freeland, MD PURPOSE: TO ASSIST RECIPIENT ORGANIZATION IN PURSUIT OF ITS TAX-EXEMPT PURPOSE. | $70,641 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Penn-Mar Foundation has recieved totaling $37,500.
| Awarding Organization | Amount |
|---|---|
Kinsley Family Foundation Seven Valleys, PA PURPOSE: PROGRAM SUPPORT | $37,500 |
Endowment Analysis
| Beg. Balance | $2,725,196 |
| Earnings | $594,079 |
| Net Contributions | $655,019 |
| Ending Balance | $3,974,294 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Homefree Usa Inc Landover, MD | $5,280,798 | $17,895,333 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Pittsburgh Promise Foundation Pittsburgh, PA | $59,585,111 | $15,082,951 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
Pennsylvania Ems Provider Foundation Harrisburg, PA | $55,116 | $0 |
Helvetas Usa Washington, DC | $584,936 | $9,906,698 |
The M S Hershey Foundation Hershey, PA | $64,689,691 | $17,201,612 |