Overview
What is Penquis Cap Inc?
Penquis Cap Inc, based in Bangor, Maine, is a nonprofit organization dedicated to administering health, housing, and social service programs. With a team of 740 employees, they primarily focus on assisting low to moderate income households in Penobscot, Piscataquis, and Knox counties. Their largest programs revolve around fuel assistance and home weatherization. Beyond these services, they also offer inspections for homes, lead removal, and community service block grant administration. Their mission is to help individuals in poverty work towards self-sufficiency and mobilize resources to sustain these efforts. Penquis Cap Inc aims to keep homes safe and healthy while preventing, reducing, or eliminating poverty in the community.
Official website here: www.penquis.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Penquis Cap Inc has achieved an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. With a score of 96%, the organization demonstrates strong governance practices, including a fully independent board and robust policies related to conflicts of interest, whistleblower protections, and document management.
The nonprofit excels in financial management, reflected in its low liabilities to assets ratio of 29.80% and an exceptionally high program expense ratio of 96.43%. These figures suggest that the majority of its expenditures are directed toward its programs rather than administrative costs, showcasing its commitment to maximizing the impact of its funding.
Overall, while the organization showcases strong performance and transparency, ongoing scrutiny and adherence to best practices will be essential to maintain this level of trust and effectiveness in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Penquis Cap Inc legitimate?
Penquis Cap Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Penquis Cap Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $552,792
Professional Fundraising Fees: $0
Other Salaries and Wages: $23,786,723
For more financial information, click here
Official website here: www.penquis.org
What is the mission statement of Penquis Cap Inc?
Penquis Cap Inc is dedicated to enhancing the lives of individuals and families by addressing poverty and economic and social needs. Through direct services and community partnerships, the organization aims to help people become self-sufficient. Their mission is to prevent, reduce, and eliminate poverty, providing assistance in various areas including housing and energy services. These programs primarily focus on low to moderate income households, offering fuel assistance, weatherization, and home inspections to maintain safe and healthy living conditions. Their ultimate goal is to keep people in their homes and improve their overall quality of life.
Official website here: www.penquis.org
Who is the CEO of Penquis Cap Inc?
Kara Hay is the Chief Executive Officer of Penquis Cap Inc. The CEO's salary of Penquis Cap Inc is $199,385 and their total compensation is $226,679.
Official website here: www.penquis.org
What is the revenue of Penquis Cap Inc?
Penquis Cap Inc's revenue in 2022 was $95,667,041.
Official website here: www.penquis.org
Who are the executives of Penquis Cap Inc and what are their salaries?
The average compensation at Penquis Cap Inc during 2022 was $32,891. There are 740 employees and 437 volunteers at Penquis Cap Inc.
Here are 27 key members and their salaries (Penquis Cap Inc's CEO's salary is $199,385 and their total compensation is $226,679):
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- Compensation: $199,385
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- Compensation: $106,277
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- Compensation: $104,328
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- Compensation: $112,813
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- Other: $21,485
Official website here: www.penquis.org
Where can I find the form 990 for Penquis Cap Inc?
Penquis Cap Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.penquis.org
Learn more at the official website: www.penquis.org
Mission Statement of Penquis Cap Inc
Penquis Cap Inc, a nonprofit organization, is dedicated to improving the lives of citizens in Maine counties, including Penobscot, Piscataquis, and Knox, by administering health, housing, and social service programs. The mission of Penquis Cap Inc is to assist individuals and families in eradicating poverty and engaging the community in addressing economic and social needs.
Through direct services, Penquis Cap Inc creates opportunities for individuals living in poverty to become self-sufficient. The organization's largest programs focus on housing and energy services, providing assistance to mostly low-to-moderate income households. Fuel assistance and weatherization are key components of these services, ensuring that families can keep their homes safe and healthy. Home, lead, and other inspections are offered to homeowners, and Penquis Cap Inc collaborates with communities to administer community service block grants. The ultimate goal is to help keep people in their homes.
Penquis Cap Inc's commitment to poverty reduction extends beyond its programs, as the organization actively identifies and mobilizes public and private resources to sustain its efforts. By partnering with various entities, Penquis Cap Inc aims to create a lasting impact on the lives of those it serves.
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Impact
October, 2024
Penquis Cap Inc significantly impacts the lives of residents in Penobscot, Piscataquis, Knox, and other Maine counties by administering essential health, housing, and social service programs. Their efforts focus on improving living conditions for low- to moderate-income households, providing critical assistance through programs like fuel assistance and weatherization. These initiatives aim to maintain safe and healthy homes, ultimately preventing families from falling into poverty or losing their housing.
By identifying and mobilizing both public and private resources, Penquis Cap Inc fosters opportunities for individuals to work towards self-sufficiency. They actively engage with the community to address economic and social needs, promoting a collaborative approach to tackle poverty and its associated challenges. Through their support services, they help empower individuals and families to take control of their economic situations, enhancing overall community well-being.
This information is meant to be a general summary of Penquis Cap Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $533,036
- Program Service Revenue: $36,939,802
- Gross Receipts: $95,685,443
Assets and Liabilities:
- Total Assets: $47,696,399
- Total Liabilities: $14,213,535
- Net Assets: $33,482,864
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Transportation Services
Revenue
$24,915,972
Charlotte White Support Services
Revenue
$8,471,703
Family Enrichment Services
Revenue
$1,463,510
Child Development Services
Revenue
$1,319,648
Other Revenue
Revenue
$768,969
Organization Details
Founding Year
1967
Phone
(207) 973-3500Principal Officer
Kara Hay
Main Address
PO Box 1162, Bangor, ME, 044021162
Website
www.penquis.orgNTEE Category
Code: P20 - Human services
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