Nonprofit · EIN 82-3036091
PENNY FOUNDATION
Tax-exempt · BIRMINGHAM, AL 35206
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $8,600,524 | $8,514,371 | $86,153 | $828,543 | $0 | $828,543 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $8,596,462
- Program service revenue
- $0
- Investment income
- $4,062
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $359,192
- Salaries, compensation and benefits (total)
- $476,859
- Professional fundraising fees
- $0
- Legal fees
- $3,703
- Accounting fees
- $18,600
- Travel
- $1,310
- Program services (functional)
- $8,514,371
Balance sheet and other
- Total assets, start of year
- $761,552
- Total assets, end of year
- $828,543
- Total liabilities, end of year
- $0
- Net assets, end of year
- $828,543
- Net assets without donor restrictions
- $828,543
- Gross receipts
- $8,600,524
- Employees
- 5
- Year formed
- 2018
- State of legal domicile
- AL
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 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHARLIE GLOVER | BOARD CHAIR Trustee or director | 1 | $0 |
| FLORESHA WATKINS | BOARD MEMBER Trustee or director | 1 | $0 |
| MAURI ROBINSON | BOARD MEMBER Trustee or director | 1 | $0 |
| JOHN LONG | BOARD MEMBER Trustee or director | 1 | $0 |
| JULIAN GRANT | BOARD MEMBER Trustee or director | 1 | $0 |
| MARTHA SIMS | BOARD MEMBER Trustee or director | 1 | $0 |
| KHADIJAH ABDULLAH | BOARD MEMBER Trustee or director | 1 | $0 |
| HERSCHELL HAMILTON | BOARD MEMBER Trustee or director | 1 | $0 |
| TIMOTHY B CLAY | TREASURER Trustee or director | 1 | $0 |
| BRITTNEY TAYLOR | BOARD MEMBER Trustee or director | 1 | $0 |
| COREY GREEN | BOARD MEMBER Trustee or director | 1 | $0 |
| JANINE SMITH | BOARD MEMBER Trustee or director | 1 | $0 |
| LISA WILLIAMS | SECRETARY Trustee or director | 1 | $0 |
| WALTER TURNER | BOARD MEMBER Trustee or director | 1 | $0 |
| EBONI LITTLE | BOARD MEMBER Trustee or director | 1 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BOB DICKERSON | BOARD MEMBER Trustee or director | 1 | $0 |
| LYORD WASTSON | CEO Officer | 40 | $0 |
| TRACY REESE MOORE | CFO Officer | 40 | $0 |
Address and contacts
- Address (IRS master file)
- 469 HORNER DR, BIRMINGHAM, AL 35206-2206
- In care of
- % LYORD WATSON JR
- Mailing address (990-N for 2017)
- 469 Horner Dr, Birmingham AL 35206
- Principal officer (990 for 2024)
- LYORD WATSON, PO Box 13181, BIRMINGHAM, AL 35203
- Principal officer (990-N for 2017)
- Lyord Watson, 469 Horner Dr, Birmingham AL 35206
- Signed the 990
- LYORD WATSON, FOUNDER CEO
- Phone
- (205) 677-8361
- Website
- www.penny.foundation
- Return prepared by
- SHEPPARD-HARRIS & ASSOCIATES PC
Mission
CONNECTING PEOPLE, ORGANIZATIONS, AND RESOURCES IN THE AREA OF EDUCATION, COMMUNITY DEVELOPMENT, AND ECONOMIC DEVELOPMENT.
Program accomplishments
- THE FOUNDATION WORKS TO ELIMINATE ECONOMIC INEQUALITY IN THE COMMUNITY THROUGH GRANTMAKING, PROGRAMMING AND DONOR ADVISED FUNDS.Expenses $8,514,371 · revenue $8,596,463
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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 82-3036091
- 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
- 2018
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T30)
- Assets (IRS master file)
- $828,543
- Income (IRS master file)
- $8,600,524
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $2,677,136 | $2,519,214 | $761,552 | IRS |
| 990 | December 2022 | $1,697,715 | $1,443,108 | $590,814 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2019 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
| 990-N for 2017 Officer: Lyord Watson | December 31, 2017 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about PENNY FOUNDATION
- What is the EIN of PENNY FOUNDATION?
- The employer identification number (EIN) of PENNY FOUNDATION is 82-3036091.
- Is PENNY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to PENNY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PENNY FOUNDATION 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 FOUNDATION 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 FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PENNY FOUNDATION?
- The 990 for the year ended December 31, 2024 names LYORD WATSON.
- Who are the officers and directors of PENNY FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 18 people; 0 received compensation from the organization.
- How much revenue does PENNY FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $8,600,524, expenses of $8,514,371 and total assets of $828,543 at year end.
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All nonprofits in BIRMINGHAM · Alabama · Philanthropy, voluntarism and grantmaking foundations