Penn Center Inc

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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

1901

Legal Domicile

Principal Officer

Dr Robert L Adams

Phone

3155158853

Tax Period

2023-01-01 to 2023-12-31

Penn Center Inc, founded in 1901, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2023. Revenue surged 56% from the prior year, signaling strong growth momentum. Expenses of $2.2M left a modest 3% surplus.

Mission

The mission of Penn Center is to promote and preserve Penn's true history and culture through it's commitment to education, community development and social justice.

Program Service Accomplishments

Program 1

Expenses: $780,662

The PACE program provides programs assisting Beaufort County Youth with academic achievement, homework assistance and curriculum centered on the Sea Islands Heritage. It also provides Child Care...

The PACE program provides programs assisting Beaufort County Youth with academic achievement, homework assistance and curriculum centered on the Sea Islands Heritage. It also provides Child Care services for children aged 6 months-5 years, and After School and Summer Camp programs for youth aged 6-18 Years. The program also provides a Summer Feeding program for Beaufort County youth to replace food needs when school is out of session during Summer recess months. This is an essential part of the nutritional needs of Beaufort County youth during periods of school inactivity/summer recess.

Program 2

Expenses: $350,359

The Conference Center program provides food, lodging and conference center facilities for visitors to the Penn Center and for program participants studying Penn Center history, purpose and mission.

Program 3

Expenses: $166,797 Revenue: $283,419

The History and Culture Program collects, documents, preserves and disseminates information related to the cultural heritage of the Sea Island and Lowcountry African-American culture. To meet these needs, the program operates the York W. Bailey Museum and Gift Shop and maintains the Laura M. Towne Archives and Library. Program staff provides tours and lectures and develops and implements public programs such as the annual Penn Center Heritage Days Celebration.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,233,273

Program Service Revenue $1,013,678

Investment Income $0

Other Revenue $0

TOTAL REVENUE $2,246,951

Expense Breakdown

Grants Paid $0

Salaries & Benefits $662,050

Fundraising Expenses $58,898

Program Expenses $1,396,065

Other Expenses $1,512,053

TOTAL EXPENSES $2,174,103

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,246,951	$1,438,916	+0.6%
Expenses	$2,174,103	$1,942,201	+0.1%
Net Income	$72,848	$-503,285	-1.1%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert Adams ED	Executive Director	50.00		$76,154	$0	$76,154
Bernie Wright	Past Executive Director	40.00		$44,280	$0	$44,280
Donellia Chives	Trustee	2.00	Officer Director	$0	$0	$0
John H Glover	Trustee	2.00	Director	$0	$0	$0
Deloris Pringle	Chairman	10.00	Officer Director	$0	$0	$0
Thomas C Barnwell Jr Life trustee	Trustee	1.00	Director	$0	$0	$0
Clifford Bush III Emeritus Trustee	Trustee	1.00	Director	$0	$0	$0
Emory S Campbell Emeritus Trustee	Trustee	1.00	Director	$0	$0	$0
Ruby G Flateau-Fielding	Trustee	2.00	Director	$0	$0	$0
Charles S Johnson	Trustee	2.00	Director	$0	$0	$0
Barbara McCaskill	Trustee	2.00	Director	$0	$0	$0
Cynthia H Porcher	Trustee	2.00	Director	$0	$0	$0
Vashti Washington	Treasurer	5.00	Officer Director	$0	$0	$0
Arnold L Brown	Trustee	4.00	Director	$0	$0	$0
Tia Powell-Harris	Trustee	2.00	Director	$0	$0	$0
Anthony Simmons	Trustee	2.00	Director	$0	$0	$0
John C Troutman Jr	Trustee	4.00	Director	$0	$0	$0
Darryl Owens	Trustee	0.00	Director	$0	$0	$0
Danielle Wilkens	Trustee	2.00	Director	$0	$0	$0
Douglas Wood	Trustee	2.00	Director	$0	$0	$0
David Yoakley Mitchell	Trustee	2.00	Director	$0	$0	$0
Bernie Wright	Executive Dir.	0.00	Director	$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
2024	No data	No data	No data	No data
2023	$2,246,951	$2,174,103	$7,001,082	$72,848
2022	$1,438,916	$1,942,201	$7,358,571	$-503,285
2021	$3,423,853	$1,591,742	$6,221,422	$1,832,111
2020	$813,174	$1,199,123	$4,523,204	$-385,949
2019	$1,219,354	$1,607,582	$4,277,533	$-388,228