Pennreach
- Assets
- $5.4m
- Revenue
- $16.5m
- Investments
- $0.0
- Employees
- 348
- Location
- Allentown, NJ
- Founding
- 10/2012
- Data as of
- 06/2023
- EIN
- 45-4123725
Organization Overview
Pennreach is located in Allentown, NJ. The organization was established in 2012. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Pennreach employed 348 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennreach 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 06/2023, Pennreach generated $16.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $16.3m during the year ending 06/2023. While expenses have increased by 19.9% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PENNREACH WILL HELP BUILD NEIGHBORHOODS BY ADDRESSING THE HOLISTIC NEEDS OF THE INDIVIDUAL BY PROVIDING GOOD QUALITY AFFORDABLE HOUSING, EMPLOYMENT OPPORTUNITIES, EDUCATION AND TRAINING FOR ALL PEOPLE IN NEED - WHETHER SENIORS, FAMILIES FACING CHALLENGES OF LOW INCOME AND RELATED PROBLEMS, OR PEOPLE WITH SPECIAL NEEDS. AT PENNREACH, THE ORGANIZATION WILL BUILD - NOT ONLY THE QUALITY, AFFORDABLE HOUSING NEEDED AS THE BUILDING BLOCK FOR A VALUED LIFE - BUT THE RESOURCES AND SUPPORTS TO HELP THEM MAINTAIN THEIR HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AFFORDABLE HOUSING AND RELATED SUPPORT TO LOW-INCOME INDIVIDUALS, SENIOR CITIZENS, AND PEOPLE WITH SPECIAL NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Krystal Odell CEO | OfficerTrustee | 20 | $136,527 |
Steve Schoch Officer | OfficerTrustee | 2 | $0 |
Scott Elliot President | OfficerTrustee | 2 | $0 |
Bill Shipp Treasurer | OfficerTrustee | 2 | $0 |
Neil Malvone Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,395,262 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,940 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,408,202 |
| Total Program Service Revenue | $12,109,221 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,105 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,540,528 |
| 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. | $136,527 |
| Compensation of current officers, directors, key employees. | $136,527 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,043,157 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,133,231 |
| Payroll taxes | $1,110,628 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $485,148 |
| Advertising and promotion | $0 |
| Office expenses | $311,791 |
| Information technology | $108,853 |
| Royalties | $0 |
| Occupancy | $786,701 |
| Travel | $330,643 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $20,952 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,908 |
| Insurance | $243,425 |
| All other expenses | $8,820 |
| Total functional expenses | $16,293,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,033,622 |
| Savings and temporary cash investments | $2,199,674 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $874,737 |
| 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 | $42,118 |
| Net Land, buildings, and equipment | $973,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $251,403 |
| Total assets | $5,374,959 |
| Accounts payable and accrued expenses | $277,820 |
| 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 | $904,017 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $249,003 |
| Total liabilities | $1,430,840 |
| Net assets without donor restrictions | $3,944,119 |
| Net assets with donor restrictions | $0 |
| 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 | $5,374,959 |