Penquis Cap Inc

Overview

Mission

The mission is to assist individuals and families in preventing, reducing, or eliminating poverty in their lives, and, through partnerships, to engage the community in addressing economic and social needs.

What it reported doing in 2023

Transportation services: penquis reports lynx mobility and transportation brokerage under one department. The transportation brokerage is the single source for scheduling mainecare nonemergency transportation in penobscot, piscataquis, somerset, and kennebec counties. Lynx mobility services provides and coordinates non mainecare transportation, including transportation services to general public for treatment for cancer clients, and for individuals with disabilities. It also provides mainecare non-emergency transportation in support of the transportation brokerage.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
016023748
IRS 990 coverage
2009–2023
Forms available
Form 990 2023, Form 990-T 2023
Headquarters
Bangor, ME, USA
Phone
2079733500
Rating
89
Verdict
STRONG
Rating confidence
Standard
Sector
Human Service Organizations

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.5%; rating input score 94
  • Program expense ratio: 94.5%; rating input score 95
  • Fundraising efficiency: $46.45 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 78th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.1%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 10.4% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 94.5% of revenue deployed · 94.5% of spending went to programs
  • Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 7 filed program accomplishments · $62.1M in reported program spending
  • Leadership: top reported pay $284K · 23 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.2M reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 annual filings from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 18 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Leadership & pay

23 people listed

Highest reported compensation

  • KARA HAY (CHIEF EXECUTIVE OFFICER): $284,136 total reported compensation
  • DENICE CONARY (CHIEF FINANCIAL OFFICER): $209,560 total reported compensation
  • JANEEN FEERO (DEVELOPMENT DIRECTOR): $207,029 total reported compensation

Source: IRS Form 990. Selected filing: FY2023.