Nonprofit · EIN 87-2376924
PENNY FORWARD INC
Also known as PENNY FORWARD
Tax-exempt · MINNEAPOLIS, MN 55415
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $199,411 | $180,031 | $19,380 | $60,864 | $7,935 | $52,929 |
| December 31, 2023 | 990-EZ | $93,793 | $80,619 | $13,174 | $39,577 | $6,028 | $33,549 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $123,384
- Membership dues
- $6,631
- Program service revenue
- $68,377
- Net income from sales of inventory
- $76
- Other revenue
- $943
Expenses
- Compensation of officers, directors and key employees
- $25,007
- Salaries, compensation and benefits (total)
- $44,572
- Professional fees and payments to contractors
- $90,683
- Occupancy
- $719
- Printing, publications and postage
- $698
- Other expenses
- $43,359
- Program services (functional)
- $83,800
Balance sheet and other
- Total assets, start of year
- $39,577
- Total assets, end of year
- $60,864
- Total liabilities, end of year
- $7,935
- Net assets, end of year
- $52,929
- Cash, savings and investments
- $14,972
- Gross receipts
- $199,504
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Christopher Peterson | CEO and President | 40 | $13,500 |
| Monica Carpenter | Board Member | 10 | $11,507 |
| Elizabeth Bottner | Vice President | 10 | $0 |
| Charles Yarberry | Secretary | 10 | $0 |
| Cody Bair | Treasurer | 10 | $0 |
| Kane Brolin | Board Member | 5 | $0 |
| Marty Sobo | Board Member | 5 | $0 |
990-EZ for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Elizabeth Bottner | Vice President | 10 | $0 |
| Charles Yarberry | Treasurer | 10 | $0 |
| Christopher Peterson | President | 20 | $0 |
Address and contacts
- Address (IRS master file)
- 400 S 4TH ST STE 410, MINNEAPOLIS, MN 55415-1419
- In care of
- % CHRISTOPHER PETERSON
- Signed the 990-EZ
- Christopher Peterson, President and CEO
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 accomplishments
- Self paced online financial education courses benifited in excess of 200 members in 2024.Expenses $4,000
- Fifty two hours of weekly financial workshops benifited in excess of 200 individuals in 2024.Expenses $78,000
- 12 hours of public webinars benefited 120 people in 2024.Expenses $1,800
- 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.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 87-2376924
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P86)
- Assets (IRS master file)
- $60,864
- Income (IRS master file)
- $199,504
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $199,411 | $180,031 | $60,864 | IRS |
| 990-EZ | December 2023 | $93,793 | $80,619 | $39,577 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-2376924).
Questions about PENNY FORWARD INC
- What is the EIN of PENNY FORWARD INC?
- The employer identification number (EIN) of PENNY FORWARD INC is 87-2376924.
- Is PENNY FORWARD INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to PENNY FORWARD INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PENNY FORWARD INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PENNY FORWARD INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PENNY FORWARD INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of PENNY FORWARD INC?
- The 990-EZ for the year ended December 31, 2024 lists 7 people; 2 received compensation from the organization, the highest $13,500 (Christopher Peterson, CEO and President).
- How much revenue does PENNY FORWARD INC have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $199,411, expenses of $180,031 and total assets of $60,864 at year end.
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