Pennington Biomedical Research Foundation
- Assets
- $26.9m
- Revenue
- $5.4m
- Investments
- $24.6m
- Employees
- 14
- Location
- Baton Rouge, LA
- Founding
- 07/1988
- Data as of
- 06/2021
- EIN
- 58-1767810
Organization Overview
Pennington Biomedical Research Foundation is located in Baton Rouge, LA. The organization was established in 1988. According to its NTEE Classification (H92) the organization is classified as: Biomedicine & Bioengineering Research, under the broad grouping of Medical Research and related organizations. As of 06/2021, Pennington Biomedical Research Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennington Biomedical Research 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 06/2021, Pennington Biomedical Research Foundation generated $5.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $4.5m during the year ending 06/2021. While expenses have increased by 1.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE PENNINGTON BIOMEDICAL RESEARCH FOUNDATION IS TO SUPPORT THE WORK OF LSU'S PENNINGTON BIOMEDICAL RESEARCH CENTER, WHICH AIMS TO DISCOVER THE TRIGGERS OF CHRONIC DISEASES THROUGH INNOVATIVE REASEARCH THAT IMPROVES HUMAN HEALTH.
Describe the Organization's Program Activity:
PENNINGTON BIOMEDICAL RESEARCH FOUNDATION PROVIDES ANNUAL FUNDING TO THE PENNINGTON BIOMEDICAL RESEARCH CENTER FOR ENDOWED CHAIRS, PROFESSORSHIPS, AND POSTDOCTORAL FELLOWSHIPS. THIS FUNDING SUPPORTS FACULTY SUPPLEMENTS, RESEARCH EQUIPMENT, SUPPLIES, TRAVEL, AND OTHER VITAL RESEARCH COSTS. THE FOUNDATION MAINTAINS 9 ENDOWED CHAIRS, 6 ENDOWED PROFESSORSHIPS, AND 2 ENDOWED POSTDOCTORAL FELLOWSHIPS.
PENNINGTON BIOMEDICAL RESEARCH FOUNDATION PROVIDES FUNDING TO THE PENNINGTON BIOMEDICAL RESEARCH CENTER FOR SPECIFIC RESEARCH PROJECTS, INCLUDING BUT NOT LIMITED TO THOSE RELATED TO THE INSTITUTE FOR DEMENTIA RESEARCH & PREVENTION, CHILDHOOD OBESITY & PUBLIC HEALTH, DIABETES, AND OBESITY.
PENNINGTON BIOMEDICAL RESEARCH FOUNDATION PROVIDES THE PENNINGTON BIOMEDICAL RESEARCH CENTER WITH PROGRAMMATIC FUNDING FOR THREE MAJOR AREAS: PRIORITY RESEARCH PROGRAMS THAT ADDRESS THE URGENT SCIENTIFIC NEEDS OF ITS RESEARCH ENTERPRISE, DEPLOY PROACTIVE BUSINESS DEVELOPMENT IN AN EFFORT TO ENHANCE REVENUE GENERATION TO PROVIDE LONG-TERM FINANCIAL STABILITY AND HEALTH, AND POSITION THE RESEARCH CENTER AS THE WORLD LEADER IN OBESITY AND CHRONIC DISEASE THROUGH A TARGETED COMMUNICATIONS AND BRANDING INITIATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Jewell Senior Vp/cfo & COO (1/1-11/24/2020) | Officer | 40 | $180,614 |
Rebbeca Schutte President/ceo | Officer | 40 | $125,757 |
C Brent Mccoy Treasurer | OfficerTrustee | 1 | $0 |
Annette D Barton Secretary | OfficerTrustee | 1 | $0 |
Janet L Olson Immediate Past Chair | OfficerTrustee | 1 | $0 |
Monica Zumo Chairperson | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Counseling Service Co Llc Conseling Services | 6/29/21 | $100,405 |
Care Ventures Llc Consulting Services | 6/29/21 | $378,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,279,031 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,188,233 |
| Noncash contributions included in lines 1a–1f | $307,611 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,467,264 |
| Total Program Service Revenue | $0 |
| Investment income | $568,822 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $597,226 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,388,620 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $352,113 |
| Compensation of current officers, directors, key employees. | $259,613 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,635,846 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $243,897 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $20,600 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $311,644 |
| Fees for services: Other | $1,408,854 |
| Advertising and promotion | $0 |
| Office expenses | $14,642 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,105 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,628 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,692 |
| Insurance | $59,610 |
| All other expenses | -$317,064 |
| Total functional expenses | $4,492,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,191 |
| Savings and temporary cash investments | $236,984 |
| Pledges and grants receivable | $492,467 |
| Accounts receivable, net | $3,881 |
| 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 | $36,220 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,588,826 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,417,034 |
| Total assets | $26,941,603 |
| Accounts payable and accrued expenses | $270,159 |
| Grants payable | $0 |
| Deferred revenue | $602,445 |
| 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 | $7,853,721 |
| Total liabilities | $8,726,325 |
| Net assets without donor restrictions | $2,094,797 |
| Net assets with donor restrictions | $16,120,481 |
| 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 | $26,941,603 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Pennington Biomedical Research Foundation has recieved totaling $1,197,951.
| Awarding Organization | Amount |
|---|---|
American Heart Association Inc Dallas, TX PURPOSE: RESEARCH | $877,696 |
Baton Rouge Area Foundation Baton Rouge, LA PURPOSE: GENERAL SUPPORT AND SUPPORT THE BRANDING PROJECT | $155,000 |
Irene W And C B Pennington Foundation Baton Rouge, LA PURPOSE: CAPACITY BUILDING | $50,000 |
Irene W And C B Pennington Foundation Baton Rouge, LA PURPOSE: IDENTIFICATION AND LEVERAGING OF NATIONAL PHILANTHROPIC OPPORTUNITIES | $50,000 |
Irene W And C B Pennington Foundation Baton Rouge, LA PURPOSE: ANNUAL FUND FOR EXCELLENCE: 21-22 | $25,000 |
Irene W And C B Pennington Foundation Baton Rouge, LA PURPOSE: DEI TRAINING | $15,000 |
Endowment Analysis
| Beg. Balance | $10,926,532 |
| Earnings | $3,714,309 |
| Net Contributions | $187,000 |
| Other Expense | $784,174 |
| Ending Balance | $14,043,667 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Biomedical Research Foundation Of Northwest Louisiana Shreveport, LA | $106,267,796 | $22,378,350 |
Pennington Biomedical Research Foundation Baton Rouge, LA | $26,941,603 | $5,388,620 |
Biomedical Research Foundation Medical Research 151 Little Rock, AR | $1,354,663 | $1,760,299 |
Biomedical Research Foundation Houston, TX | $279,298 | $7,631 |
International Foundation For Biomedical Aging Research Temple, TX | $532 | $280 |