Penn-North Plaza Inc
- Assets
- $1.3m
- Revenue
- $633.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 05/1991
- Data as of
- 06/2022
- EIN
- 52-1722562
Organization Overview
Penn-North Plaza Inc is located in Baltimore, MD. The organization was established in 1991. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penn-North Plaza 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 06/2022, Penn-North Plaza Inc generated $633.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $694.1k during the year ending 06/2022. While expenses have increased by 2.2% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SAFE AND AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY, AND PERSONS WITH DISABLITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNERSHIP AND OPERATING OF SUBSIDIZED APARTMENT RENTALS FOR QUALIFIED LOW-INCOME ELDERLY, OR PERSONS WITH DISABLITIES. THE APARTMENT PROJECT KNOWN AS PENN NORTH APARTMENTS CONSISTS OF 66 RENTAL UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neva W Brown President | OfficerTrustee | 0.01 | $0 |
Eileen Bridgelall Board Member | Trustee | 0.01 | $0 |
Nona Diggs Secretary/treas | OfficerTrustee | 0.01 | $0 |
Nixon A Camper Board Member | Trustee | 0.01 | $0 |
Shawan Jackson Board Member | Trustee | 0.01 | $0 |
Harold Young Board Member | Trustee | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $405,366 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $405,366 |
| Total Program Service Revenue | $228,508 |
| Investment income | $12 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $633,886 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $109,691 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,156 |
| Payroll taxes | $8,002 |
| Fees for services: Management | $39,477 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,175 |
| Office expenses | $12,059 |
| 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 | $378 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,303 |
| Insurance | $32,164 |
| All other expenses | $66,914 |
| Total functional expenses | $694,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,891 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,655 |
| 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 | $10,079 |
| Net Land, buildings, and equipment | $1,176,543 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,010 |
| Other assets | $139,991 |
| Total assets | $1,346,169 |
| Accounts payable and accrued expenses | $64,137 |
| Grants payable | $0 |
| Deferred revenue | $2,207 |
| 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 | $4,037,674 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,682 |
| Total liabilities | $4,132,700 |
| Net assets without donor restrictions | -$2,786,531 |
| 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 | $1,346,169 |