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EIN 82-3036091

The Penny Foundation

IRS 501(c) type
501(c)(3)
Num. employees
5
City
Birmingham
State
Alabama
Year formed
2018
Most recent tax filings
2023-12-01
NTEE code, primary
T30: Public Foundations
Description
The Penny Foundation aims to eliminate economic inequality in the African American community through grantmaking, programming and donor advised funds. During year one, the organization focused on setting up its infrastructure and initial planning in pursuit of their mission.
Total revenues
$2,677,136
2023
Total expenses
$2,519,214
2023
Total assets
$761,552
2023
Num. employees
5
2023

Program areas at The Penny Foundation

Eliminate economic inequality in The african american community by grantmaking, programming and donor advised funds. Year 1 was organizational set up and initial

Who funds The Penny Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
The Ford FoundationCore Support for the Garden Grant's Global Pilot of "grow Something Beautiful" To Facilitate New Opportunities for Artists To Galvanize Their Communities and Amplify the Conversations in Expanding the Utilization of Art As A Tool of Civic Engagement$200,000
Moore ImpactFor General Operating Support$50,000
NEO PhilanthropyProgram Grant$25,000
...and 4 more grants received

Financials for The Penny Foundation

RevenuesFYE 12/2023
Total grants, contributions, etc.$2,669,880
Program services$0
Investment income and dividends$7,256
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$2,677,136
Data update history
April 23, 2025
Received grants
Identified 3 new grant, including a grant for $25,000 from NEO Philanthropy
January 12, 2025
Received grants
Identified 3 new grant, including a grant for $200,000 from The Ford Foundation
September 22, 2024
Updated personnel
Identified 1 new personnel
September 1, 2024
Posted financials
Added Form 990 for fiscal year 2023
July 23, 2024
Received grants
Identified 1 new grant, including a grant for $2,500 from Enterprise Holdings Foundation
Nonprofit Types
Grantmaking organizationsCivic / social organizationsCharities
Issues
African Americans
Characteristics
Provides grantsPartially liquidatedTax deductible donationsAccepts online donations
General information
Address
PO Box 13181
Birmingham, AL 35203
Metro area
Birmingham-Hoover, AL
County
Jefferson County, AL
Website URL
pennyfoundation.org/ 
Phone
(205) 677-8361
IRS details
EIN
82-3036091
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2018
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T30: Public Foundations
NAICS code, primary
813410: Civic and Social Organizations
Parent/child status
Independent
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