THE ERNESTINE L PENRY SCHOLARSHIP FOUNDATION INC

EIN: 561285282 501(c)(3)

NEW BERN, NC

Total Revenue
$74,332
Total Expenses
$64,470
Total Assets
$1,033,589
Net Assets
$1,033,589
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
NC
Principal Officer
JOHN BEARD
Phone
7045918980
Tax Period
2024-12-01 to 2025-11-30

THE ERNESTINE L PENRY SCHOLARSHIP FOUNDATION INC, founded in 1980, is a micro nonprofit that reported $74K in total revenue in fiscal year 2024. Revenue fell 66% from the prior year — a significant decline worth monitoring. Expenses of $64K left a modest 13% surplus.

Mission

The purpose of the Foundation is to further the education of ministerial students and assist others full time Christian work.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $19,662
Program Service Revenue $0
Investment Income $54,670
Other Revenue $0
TOTAL REVENUE $74,332

Expense Breakdown

Grants Paid $64,250
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $220
Other Expenses $220
TOTAL EXPENSES $64,470

Year-over-Year Comparison

2024 2023 Change
Revenue $74,332 $218,695 -0.7%
Expenses $64,470 $56,945 +0.1%
Net Income $9,862 $161,750 -0.9%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
22
Independent Members
22
Employees
N/A
Volunteers
100

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BARRY CUMMINS TREASURER 0.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $74,332 $64,470 $1,033,589 $9,862
2024 $104,745 $50,083 $1,023,736 $54,662
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