Pennington Medical Foundation
- Assets
- $638.2k
- Revenue
- $28.6k
- Investments
- $583.9k
- Employees
- 0
- Location
- Baton Rouge, LA
- Founding
- 03/1980
- Data as of
- 12/2021
- EIN
- 72-0883155
Organization Overview
Pennington Medical Foundation is located in Baton Rouge, LA. The organization was established in 1980. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennington Medical Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PENNINGTON MEDICAL FOUNDATION ADMINISTERS THE TRUST ESTABLISHED BY C.B. PENNINGTON AND IRENE W. PENNINGTON, PROVIDES FINANCIAL SUPPORT FOR MEDICAL RESEARCH PROGRAMS OF THE PENNINGTON BIOMEDICAL RESEARCH CENTER BY PROVIDING CAPITAL GRANTS AND SEED FUNDING, AND SUPPORTS THE DEVELOPMENT AND EXPANSION OF THE CENTER AND ITS PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALARY SUPPLEMENTS TO RETAIN PHYSICIAN SCIENTISTS AT THE PENNINGTON BIOMEDICAL RESEARCH CENTER.
SALARY SUPPLEMENT SUPPORT FOR EXECUTIVE DIRECTOR OF PENNINGTON BIOMEDICAL RESEARCH CENTER.
EXPENDITURES SUPPORTING VARIOUS RESEARCH AND FACULTY PROJECTS FOR THE PENNINGTON BIOMEDICAL RESEARCH CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Hodgkins Secretary | Officer | 1 | $0 |
Dr John Kirwan Ex-Officio | Officer | 1 | $0 |
Thomas Gilligan Thru 7221 Trustee | Trustee | 1 | $0 |
Paula Pennington DE La Bretonne Chair/trustee | Trustee | 1 | $0 |
G Lee Griffin Trustee | Trustee | 1 | $0 |
Dr Lary Hollier Thru 101421 Trustee | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $59 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $26,365 |
| 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 | $28,646 |
| 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. | $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 | $21,380 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $198 |
| Fees for services: Other | $3,971 |
| Advertising and promotion | $0 |
| Office expenses | $77 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,101 |
| All other expenses | $0 |
| Total functional expenses | $150,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,602 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $497 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $583,856 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,253 |
| Total assets | $638,208 |
| Accounts payable and accrued expenses | $20,528 |
| 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 | $20,528 |
| Net assets without donor restrictions | $617,680 |
| 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 | $638,208 |
Endowment Analysis
| Beg. Balance | $1,295,284 |
| Earnings | -$49,822 |
| Admin Expense | $49,177 |
| Other Expense | $189,320 |
| Ending Balance | $1,006,965 |
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Valor Texas Education Foundation Austin, TX | $20,040,325 | $11,565,701 |
Eugene Higgins Charitable Trust Dallas, TX | $194,077,327 | $32,131,659 |
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Joe W & Dorothy Dorsett Brown Foundation Metairie, LA | $122,222,465 | $11,452,057 |
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Yellowstone Academy Inc Houston, TX | $16,392,464 | $16,744,043 |