Pallet Foundation
- Assets
- $3.1m
- Revenue
- $697.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 03/1998
- Data as of
- 12/2023
- EIN
- 54-1798031
Organization Overview
Pallet Foundation is located in Alexandria, VA. The organization was established in 1998. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pallet Foundation 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 12/2023, Pallet Foundation generated $697.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $499.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Pallet Foundation has awarded 11 individual grants totaling $369,171. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PALLET FOUNDATION SUPPORTS RESEARCH, EDUCATION/TRAINING AND SAFETY IN THE WOOD PACKAGING INDUSTRY WHILE PROMOTING THE INDUSTRY TO END-USERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HAS HIRED A CONSULTANT TO PROVIDE STRATEGIC ADVICE AND A HISTORICAL PERSPECTIVE ON ALL ASPECTS OF ISPM 15. HE WRITES SUMMARY BRIEFS, PARTICIPATES IN MEETINGS AND CONFERENCES AND REPRESENTS THE PALLET INDUSTRY A VARIOUS MEETINGS AND CONFERENCES.
THE FOUNDATION FUNDS GRANTS TO VIRGINIA TECH UNIVERSITY TO EXPLORE THE STATUS OF NEW WOOD PALLET MANUFACTURING & PALLET RECYCLING IN THE US THRU THE NATURES PACKAGING CAMPAIGN
NATURES PACKAGING IS A CAMPAIGN DESIGNED TO PROMOTE THE BENEFITS OF WOOD PACKAGING. IT WILL SUPPLY RESEARCH AND ANALYTICAL SUPPORT TO GATHER ENVIRONMENTAL FACTS AND FIGURES ON ISSUES SUCH AS LIFE CYCLE ANALYSIS, FOREST SUSTAINABILITY, CERTIFICATION AND WOOD RECYCLING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Swenby Trustee | Trustee | 2 | $0 |
Rob Trexler Trustee | Trustee | 0 | $0 |
Greg Vipond Trustee | Trustee | 2 | $0 |
Mitchell Kamps Trustee | Trustee | 2 | $0 |
Carolyn Beach-Skinner Trustee | Trustee | 2 | $0 |
Scott Harrington Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $510,700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,755 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $621,455 |
| Total Program Service Revenue | $0 |
| Investment income | $76,345 |
| 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 | $697,800 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,348 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $6,084 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,976 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | -$590 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,616 |
| Insurance | $0 |
| All other expenses | $17,670 |
| Total functional expenses | $499,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $779,324 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,229 |
| 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 | $11,917 |
| Net Land, buildings, and equipment | $3,052 |
| Investments—publicly traded securities | $2,308,203 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,144,725 |
| Accounts payable and accrued expenses | $34,750 |
| Grants payable | $0 |
| Deferred revenue | $55,000 |
| 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 | $89,750 |
| Net assets without donor restrictions | $3,054,975 |
| Net assets with donor restrictions | $0 |
| 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 | $3,144,725 |
Grants Awarded
Over the last fiscal year, Pallet Foundation has awarded $111,018 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA TECH PURPOSE: Compression stresses on top of pallets | $56,500 |
VIRGINIA TECH PURPOSE: Lab Utilization for testing pallets | $27,518 |
UL VERIFICATION SERVICES PURPOSE: PCR Creation Wood Pallets | $27,000 |