Overview
What is The Penrod Society Ltd?
The Penrod Society Ltd, located in Indianapolis, Indiana, serves as a nonprofit organization dedicated to promoting and supporting the arts in the central region. Their primary objective is to cultivate and encourage public interest in the artistic field, contributing to educational activities within the region. The organization achieves this mission by hosting an annual arts fair, which generates funds for local not-for-profit organizations and supports the arts community in Central Indiana. The Penrod Society Ltd's activities align with their exempt purpose of fostering cultural growth and development within their community, as detailed in their mission statement.
Official website here: www.penrod.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%)
The Penrod Society Ltd has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its accountability and financial practices. While the organization demonstrates strong governance with 100% independent board members and a high program expense ratio of 97.70%, it lacks key financial transparency components such as published financial statements and a conflict of interest policy.
The organization has no reported material diversion of assets, which is a positive sign of financial integrity. However, the absence of essential policies like whistleblower protection and document retention raises concerns regarding governance and accountability. Additionally, the lack of publicly available tax documents reflects a significant gap in transparency that could affect stakeholder trust.
Despite these limitations, The Penrod Society Ltd shows commitment to its programs, as evidenced by its high program expense ratio. Addressing the noted deficiencies in policies and financial reporting could enhance its overall effectiveness and credibility in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is The Penrod Society Ltd legitimate?
The Penrod Society Ltd is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Penrod Society Ltd 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.
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For more financial information, click here
Official website here: www.penrod.org
What is the mission statement of The Penrod Society Ltd?
The Penrod Society Ltd's primary mission is centered around supporting cultural and educational activities. Specifically, the organization focuses on cultivating, encouraging, and developing public interest in the arts. The society organizes events, such as an annual arts fair, to raise funds for local not-for-profit organizations and promote the arts within Central Indiana. Additional information about their activities can be found in their schedule.
Official website here: www.penrod.org
What is the revenue of The Penrod Society Ltd?
The Penrod Society Ltd's revenue in 2023 was $866,270.
Official website here: www.penrod.org
Who are the executives of The Penrod Society Ltd and what are their salaries?
There 265 volunteers at The Penrod Society Ltd.
Here are 11 key members and their salaries:
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Official website here: www.penrod.org
Where can I find the form 990 for The Penrod Society Ltd?
The Penrod Society Ltd's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.penrod.org
Learn more at the official website: www.penrod.org
Mission Statement of The Penrod Society Ltd
The Penrod Society Ltd is an organization dedicated to fostering cultural and educational activities. Its mission revolves around cultivating, encouraging, and developing public interest in the arts. The society plays a significant role in supporting the arts, as seen through its annual arts fair. This event serves multiple purposes, including providing financial aid to local non-profit organizations and promoting and bolstering the arts scene in Central Indiana. By sponsoring and staging this annual event, The Penrod Society Ltd contributes to the enrichment of the artistic community, thereby supporting the cultivation and development of the arts.
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Impact
October, 2024
The Penrod Society Ltd effectively enhances cultural and educational engagement in Central Indiana, primarily through its annual arts fair. This event not only fosters appreciation for the arts but also generates vital funding for local nonprofit organizations. By promoting and supporting various artistic endeavors, the Penrod Society cultivates public interest in the arts and encourages community involvement, thereby contributing to the overall cultural enrichment of Indianapolis and the surrounding area. Its mission emphasizes the importance of arts in society, highlighting their role in personal and community development.
This information is meant to be a general summary of The Penrod Society Ltd. 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 2023.
- Investment Income: $26,014
- Program Service Revenue: $485,706
- Gross Receipts: $1,089,262
Assets and Liabilities:
- Total Assets: $1,091,987
- Total Liabilities: $210,169
- Net Assets: $881,818
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Art Fair Revenue
Revenue
$463,180
Magic in the Making
Revenue
$22,526
Organization Details
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