Pencil INC FY2021 filing

Tax-deductible

New York, NY501(c)(3)Foundations & GrantmakersEIN 22-3384302Revenue $3.1M in FY2021

On file with the IRSpencil.org30 West 26th Street 4th Floor, 10010-2011 · New York, NYTax-exempt since Sep 1995Publicly supported charity — 170(b)(1)(A)(vi)

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Bringing together business professionals, educators and students to open eyes, open minds and open doors.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
$648K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $69K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$648K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $65K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$43K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
+8% vs prior year
Spent
$2.7M
To programs
69%
Net assets
$2.4M
By yearFY2020–FY2024
Revenue
$3.1M
FY2021▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.8M
FY2021$3.1M
FY2022$3.1M
FY2023$3.5M
FY2024$2.6M
Expenses
$2.7M
FY2021▼ -8%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.0M
FY2021$2.7M
FY2022$3.0M
FY2023$3.4M
FY2024$3.4M
Net assets
$2.4M
FY2021▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$2.4M
FY2022$2.4M
FY2023$2.5M
FY2024$1.8M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1995.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $1.9M Management & general 13% · $359K Fundraising 18% · $488K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

27 people listed on the 990; $648K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$220,824Pt VII · Sec A
Chief Strat Off
$177,714Pt VII · Sec A
VP of Fin&admin
$135,450Pt VII · Sec A
SR. Program Off.
$114,285Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Jessica Bynoe’s $233K as President is at the 88th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Gregg Betheil—$239,042$236,620$220,824$220,734
Jessica Bynoe$233,421$238,462$200,096$177,714$178,325
Gregg B Betheil$232,674————
Katje King-Mcgann Left 1122——$143,714——
Davina Angus—$142,386———
Angelie Singla$137,444$50,981———
Marilyn Fogarty———$135,450$134,950
Tracy Kebatta—$134,132———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Pencil INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects professionals, educators, and students to foster learning and opportunity.

Provided by the organization

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1 program · $1.9M · in their own filed words · FY2021
01

In 2021, PENCIL connected 5,394 NYC students to 1,100 volunteers and mentors from 177 business. PENCIL held all programming virtually as a result of the on-going COVID-19 pandemic. PENCILs Partnership Program served 1,012 students across 33 New York City public schools by leveraging the talents and resources of NYCs business community to…

$1.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Gibson GivesFY2025$3K
Total grants receivedfrom 3 funders$65K
See all 3 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3.1M
Ln 12
Gifts and grantsLn 1h$3.0M
Investment incomeLn 3$40K
Money outPt IX
$2.7M
Ln 25
Programscol B$1.9M
Managementcol C$359K
Fundraisingcol D$488K
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$366K
Total assetsLn 16$2.4M
LiabilitiesLn 26$43K
PeoplePt VI, VII
27
listed · VII A
PaidVII A4
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.0M
Government grantsLn 1e$700K
Investment incomeLn 3$40K
Gains on assetsLn 7$35K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$366K
SavingsLn 2$0
Cash and savings togetherLn 1–2$366K
InvestmentsLn 11–13$1.4M
Land, buildings, equipmentLn 10c$12K
Other assetsLn 15$43K
Total assetsLn 16$2.4M
LiabilitiesLn 26$43K
Net assetsLn 32$2.4M
OperationsPt I, VI
EmployeesI 535
VolunteersI 6580
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$510K$366K
InvestmentsLn 11–13$1.4M$1.4M
Land, buildings, equipmentLn 10c$16K$12K
Total assetsLn 16$2.2M$2.4M
LiabilitiesLn 26$102K$43K
Net assetsLn 32$2.1M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$397K$148K$124K$124K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$1.4M$1.1M$97K$199K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$397K$276K$49K$72K
Payroll taxesLn 10$4K$3K$464$679
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$25K$8K$16K$1K
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$71K$49K$9K$13K
RoyaltiesLn 15$0
OccupancyLn 16$375K$260K$47K$68K
TravelLn 17$5K$10K$555−$6K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$10K$7K$1K$2K
InsuranceLn 23$27K$19K$3K$5K
Other expenses (24a–d)Ln 24$37K$17K$11K$9K
All other expensesLn 24e$1K$945$170$249
Total functional expensesLn 25$2.7M$1.9M$359K$488K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.6M$3.4M−$718K$1.8M 990 PDF
FY2023 $3.5M$3.4M$73K$2.5M 990 PDF
FY2022 $3.1M$3.0M$92K$2.4M 990 PDF
FY2021 Viewing $3.1M$2.7M$331K$2.4M 990 PDF
FY2020 $2.8M$3.0M−$123K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $3,055,640 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,818,662$3,015,456
I-9 Program service revenue$0
I-10 Investment incomePrior year $13,150$40,184
I-11 Other revenue$0
I-12 Total revenuePrior year $2,831,812$3,055,640
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,363,242$2,173,608
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $591,428$551,459
I-18 Total expensesPrior year $2,954,670$2,725,067
I-19 Revenue less expensesPrior year −$122,858$330,573
Part VI · Governance 23 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,055,640 across 9 lines filed
VIII-1e Government grants$700,017
VIII-1f All other contributions, gifts and grants$2,315,439
VIII-1h Total contributions, gifts and grants$3,015,456
VIII-3 Investment incomeExcluded from tax $5,677$5,677
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $34,507$34,507
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueExcluded from tax $40,184$3,055,640
Part IX · Statement of functional expenses $2,725,067 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $148,469 · Management $124,145 · Fundraising $124,027$396,641
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $1,080,682 · Management $96,508 · Fundraising $198,564$1,375,754
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $275,653 · Management $49,485 · Fundraising $72,345$397,483
IX-10 Payroll taxesPrograms $2,587 · Management $464 · Fundraising $679$3,730
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $7,781 · Management $16,151 · Fundraising $1,098$25,030
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technologyPrograms $49,237 · Management $8,839 · Fundraising $12,922$70,998
IX-15 Royalties$0
IX-16 OccupancyPrograms $260,384 · Management $46,744 · Fundraising $68,339$375,467
IX-17 TravelPrograms $10,394 · Management $555 · Fundraising −$6,320$4,629
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $6,615 · Management $1,187 · Fundraising $1,736$9,538
IX-23 InsurancePrograms $19,047 · Management $3,419 · Fundraising $4,999$27,465
IX-24 Other expenses (24a–d)Programs $16,684 · Management $11,024 · Fundraising $9,260$36,968
IX-24e All other expensesPrograms $945 · Management $170 · Fundraising $249$1,364
IX-25 Total functional expensesPrograms $1,878,478 · Management $358,691 · Fundraising $487,898$2,725,067
Part X · Balance sheet $2,403,327 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $509,667$365,648
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivableStart of year $225,634$602,549
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $15,671$12,121
X-11 Publicly traded securitiesStart of year $1,392,003$1,380,342
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $42,667$42,667
X-16 Total assetsStart of year $2,185,642$2,403,327
X-17 Accounts payable and accrued expensesStart of year $44,624$26,543
X-25 Other liabilitiesStart of year $19,281$16,703
X-26 Total liabilitiesStart of year $101,705$43,246
X-27 Net assets without donor restrictionsStart of year $1,652,937$1,898,081
X-28 Net assets with donor restrictionsStart of year $431,000$462,000
X-32 Total net assets or fund balancesStart of year $2,083,937$2,360,081
X-33 Total liabilities and net assetsStart of year $2,185,642$2,403,327
Part XI · Reconciliation of net assets $2,360,081 net assets at year end
XI-1 Total revenue$3,055,640
XI-2 Total expenses$2,725,067
XI-3 Revenue less expenses$330,573
XI-4 Net assets at start of year$2,083,937
XI-5 Net unrealized gains (losses) on investments−$54,429
XI-10 Net assets at end of year$2,360,081

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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