The PEN/Faulkner Foundation

Legal name: Pen Faulkner Foundation

Nonprofit profile at a glance

EIN
521431622
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
(202) 898-9063
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$861,252
Expenses
$713,816
Assets
$911,260
Liabilities
$130,393

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Highest reported compensation

  • GWYDION SUILEBHAN (EXECUTIVE DI): $108,745 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The PEN/Faulkner Foundation’s mission is to champion the breadth and power of fiction in America.

What it reported doing in 2024

The pen/faukner award honors the best published works of fiction by american permanent residents in a calendar year. Three writers are chosen annually by the board of directors of the pen/faulkner foundation to serve as judges, ensuring that our awards selection process is free of commercial influence. These judges select an inital longlist of ten books, followed by five finalists, and finally one winner as the "first among equals."

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 94
  • Accountability: 79
  • Sustainability: 56
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44.9%; rating input score 45
  • Program expense ratio: 52.3%; rating input score 52
  • Fundraising efficiency: $3.15 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.28; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 15.2%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: -2.8% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 44.9% of revenue deployed · 52.3% of spending went to programs
  • Governance: 20 of 20 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $373K in reported program spending
  • Leadership: top reported pay $109K · 21 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.