Overview
What is Penates Inc?
Penates Inc is a compassionate nonprofit organization situated in Bay Shore, New York (specifically at PO Box 5852). Their primary mission is to address the pressing issue of homelessness in Suffolk County by operating housing shelters and providing essential support services. With a dedicated workforce of 55 employees, they strive to uplift and assist homeless individuals and families, offering them a much-needed sanctuary and essential resources during challenging times.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
Penates Inc has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The overall rating is based entirely on the organization’s Accountability & Finance score, which stands at 75%. This rating indicates that the organization meets several key standards in financial management and governance.
The organization demonstrates strong governance practices, with 100% of its board members being independent, which promotes transparency and impartiality. Additionally, it has a well-structured Audit and Oversight Committee and adheres to policies regarding conflicts of interest and whistleblowing. The financial statements are managed effectively, and the organization has no reported material diversions of assets.
However, there are some limitations in its financial metrics, particularly regarding the liabilities to assets ratio, which received a score of zero out of fifteen. This suggests potential concerns about the organization's financial stability. Overall, while Penates Inc performs well in many areas of accountability and finance, addressing its financial ratios could enhance its rating and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Penates Inc legitimate?
Penates Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Penates 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,701,639
For more financial information, click here
What is the mission statement of Penates Inc?
Penates Inc is committed to serving homeless individuals and families in their primary mission. The organization operates housing shelters and provides essential support services to help these vulnerable groups overcome their circumstances. By offering shelter and assistance, Penates Inc aims to improve the lives of those in need, providing them with a temporary respite and resources to sustain their journey towards stability. The organization's activities are focused on Suffolk County, offering a vital lifeline to those struggling with homelessness.
Who is the CEO of Penates Inc?
Carol Berkowitz is the Executive Director of Penates Inc.
What is the revenue of Penates Inc?
Penates Inc's revenue in 2022 was $2,541,790.
Who are the executives of Penates Inc and what are their salaries?
The average compensation at Penates Inc during 2022 was $30,939. There are 55 employees at Penates Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Penates Inc?
Penates Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Penates Inc
Penates Inc, a nonprofit organization, is dedicated to addressing homelessness in its community. Its primary mission is to operate housing shelters and provide support services for individuals and families who are currently homeless. By offering shelter, Penates Inc provides a safe and stable environment for these individuals, enabling them to focus on rebuilding their lives. Additionally, the organization offers a range of support services to help homeless individuals overcome the challenges they face. These services may include job placement assistance, financial counseling, and access to mental health resources, among other things. By offering both shelter and support services, Penates Inc is committed to helping homeless individuals and families in Suffolk County achieve stability and independence.
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Impact
July, 2024
Penates Inc has a significant impact on the local community in Suffolk County, NY by operating housing shelters and providing support services for homeless individuals and families. Their mission to address homelessness directly impacts the lives of those in need by offering them a safe place to stay and access to resources to improve their situations. Through their efforts, Penates Inc contributes to helping individuals and families in Suffolk County transition out of homelessness and towards a more stable future.
This information is meant to be a general summary of Penates 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.
- Gross Receipts: $2,541,790
Assets and Liabilities:
- Total Assets: $306,069
- Total Liabilities: $657,995
- Net Assets: -$351,926
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Organization Details
Founding Year
1992
Principal Officer
Carol Berkowitz
Main Address
PO BOX 5852, Bay Shore, NY, 11706
NTEE Category
Code: L410 - Housing
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