Peanut Foundation Inc
- Assets
- $2.0m
- Revenue
- $698.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 06/1987
- Data as of
- 09/2021
- EIN
- 54-1318940
Organization Overview
Peanut Foundation Inc is located in Alexandria, VA. The organization was established in 1987. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peanut Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Peanut Foundation Inc generated $698.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $954.9k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Peanut Foundation Inc has awarded 82 individual grants totaling $6,154,191. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PROMOTION OF RESEARCH FOR THE IMPROVEMENT OF PEANUT INDUSTRY TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH GRANTS - PEANUT RESEARCH, ON BEHALF OF ALL SEGMENTS OF THE PEANUT INDUSTRY, TO REDUCE COST OF PRODUCTION, CREATE A SAFER PRODUCT, IMPROVE QUALITY, AND IMPROVE HEALTH BENEFITS.
PEANUT GENOME INITIATIVE - A RESEARCH PROGRAM TO MAP THE GENETIC CODE OF THE PEANUT PLANT.
WINTER NURSERY- BREEDING PROGRAM CONDUCTED IN PUERTO RICO DURING THE WINTER.
PEANUT BUTTER FOR THE HUNGRY - FOCUSING ON COUNTRIES WHERE FAMINE IS PREVALENT, TO HELP THEM PRODUCE NUTRITIONAL PEANUT BUTTER PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Brown Executive Director | Officer | 40 | $80,000 |
Donald Chase Chair | OfficerTrustee | 0.4 | $0 |
Jack Davis Vice-Chair | OfficerTrustee | 0.4 | $0 |
Courtney Dorsett Secretary/treasurer | OfficerTrustee | 0.4 | $0 |
Richard Owen President | Officer | 1 | $0 |
Darlene Cowart Director | Trustee | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $689,605 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $689,605 |
| Total Program Service Revenue | $6,805 |
| Investment income | $2,220 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $698,630 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $598,766 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $80,000 |
| Compensation of current officers, directors, key employees. | $80,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,000 |
| Advertising and promotion | $0 |
| Office expenses | $801 |
| Information technology | $601 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,684 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,178 |
| All other expenses | $2,443 |
| Total functional expenses | $954,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,863 |
| Savings and temporary cash investments | $1,812,587 |
| Pledges and grants receivable | $110,500 |
| Accounts receivable, net | $61,294 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,047,244 |
| Accounts payable and accrued expenses | $75,305 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $75,305 |
| Net assets without donor restrictions | $490,349 |
| Net assets with donor restrictions | $1,481,590 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,047,244 |
Grants Awarded
Over the last fiscal year, Peanut Foundation Inc has awarded $598,766 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Athens, GA PURPOSE: RESEARCHRESEARCH | $229,275 |
NORTH CAROLINA STATE UNIVERSITY PURPOSE: RESEARCH | $81,907 |
Huntsville, AL PURPOSE: RESEARCH | $74,164 |
USDA NFC ADMIN COLLECTIONS PURPOSE: RESEARCH | $60,525 |
Santa Fe, NM PURPOSE: RESEARCH | $55,752 |
TEXAS A & M AGRILIFE RESEARCH PURPOSE: RESEARCH | $42,649 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Peanut Foundation Inc has recieved totaling $360,000.
| Awarding Organization | Amount |
|---|---|
American Peanut Shellers Assoc Inc Albany, GA PURPOSE: GENOMICS INITIATIVE | $160,000 |
Birdsong Charitable Foundation Inc Suffolk, VA PURPOSE: EDUCATION | $100,000 |
Birdsong Charitable Foundation Inc Suffolk, VA PURPOSE: EDUCATION | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Farm Bureau Federation Washington, DC | $90,939,255 | $33,384,645 |
Food Allergy Research & Education Inc Mclean, VA | $49,740,343 | $11,947,289 |
Elevator Industry Work Preservation Fund Columbia, MD | $75,509,631 | $27,265,052 |
North Carolina Farm Bureau Federation Inc Raleigh, NC | $43,526,522 | $15,980,144 |
Downtown Business Improvement District Corporation Washington, DC | $12,848,344 | $15,153,939 |
Kentucky Farm Bureau Federation Louisville, KY | $26,799,792 | $14,351,168 |
Virginia Farm Bureau Federation Inc Richmond, VA | $53,446,193 | $7,940,484 |
Tennessee Farm Bureau Federation Columbia, TN | $127,985,651 | $12,173,337 |
Painters And Allied Trades Labor Management Cooperation Fund Hanover, MD | $16,040,317 | $4,577,967 |
Locus Impact Investing Richmond, VA | $7,023,425 | $9,339,755 |
Agricenter International Inc Memphis, TN | $11,833,861 | $6,132,848 |
National Council Of Farmer Cooperatives Washington, DC | $7,136,808 | $5,507,889 |