The Pete Du Pont Freedom Foundation Llc
- Assets
- $571.6k
- Revenue
- $384.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Montchanin, DE
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 82-1237132
Organization Overview
The Pete Du Pont Freedom Foundation Llc is located in Montchanin, DE. The organization was established in 2017. As of 12/2022, Pete Du Pont Freedom Foundation Llc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pete Du Pont Freedom Foundation Llc 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 12/2022, Pete Du Pont Freedom Foundation Llc generated $384.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $438.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PETE DU PONT FREEDOM FOUNDATION PROMOTES OUR COUNTRY'S SPIRIT OF PRIVATE ENTERPRISE, BY FOSTERING ACCESS TO THE MARKETPLACE FOR EVERY ENTREPRENEUR AND THEIR IDEAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PETE DU PONT FREEDOM FOUNDATION SERVES AS AN ENTREPRENEURIAL INCUBATOR BY PROVIDING A PLATFORM FOR INDIVIDUALS TO PRESENT IDEAS THAT WILL CREATE JOBS AND IMPROVE DELAWARE. THROUGH ITS REINVENTING DELAWARE PROGRAM, WHICH BEGAN IN 2014; THE PUBLIC, FOUNDATION MEMBERS, SUPPORTERS, AND THE BUSINESS COMMUNITY SUBMIT IDEAS TO THE FOUNDATION FOR CONSIDERATION. IDEA SUBMITTERS ARE INVITED TO PRESENT THEIR IDEAS AT AN ANNUAL DINNER EVENT, WHICH INCLUDES KEY MEMBERS OF THE DELAWARE BUSINESS AND LEADERSHIP COMMUNITY. IN TOTAL, 100 INDIVIDUALS ATTEND THE EVENT AND PRESENT IDEAS. THE FOUNDATION PROVIDES THE TOP IDEAS FROM THE REINVENTING DELAWARE DINNER THE FOLLOWING RESOURCES TO ASSIST IN ULTIMATELY LAUNCHING, CREATING JOBS AND IMPROVING DELAWARE: -SIX MONTHS OF PROFESSIONAL BUSINESS REFINEMENT, DEVELOPMENT AND MENTOR SERVICES IN PARTNERSHIP WITH THIRD PARTY FACILITATORS-SPOTLIGHT ARTICLES IN THE DELAWARE BUSINESS TIMES (ONLINE AND PRINT)-PROMOTION AND VISIBILITY THROUGH FOUNDATION SOCIAL MEDIA AND WEBSITE CHANNELS-PROFESSIONAL VIDEO SPOTLIGHT FOR PROGRAM FINALISTS-EXHIBITION OPPORTUNITY AT THE ANNUAL PETE DU PONT FREEDOM AWARD EVENT FOR PROGRAM FINALISTS-MONETARY AWARD FOR THE IDEA THAT CAN MAKE THE MOST IMPACT ON DELAWARE
THE EQUITABLE ENTREPRENEURIAL ECOSYSTEM (E3) INITIATIVE IS DRIVEN BY THE FOUNDATION'S FOCUS ON REMOVING BARRIERS TO INNOVATION AND ITS STRONG BELIEF THAT GREAT IDEAS AND ENTREPRENEURSHIP CAN OCCUR THROUGHOUT SOCIETY. E3 IS AN AMBITIOUS INITIATIVE, WITH THE GOAL OF BECOMING DELAWARE'S LEADING ENTREPRENEURIAL INCUBATOR AND ACCELERATOR BY CREATING AN INNOVATIVE ECOSYSTEM THAT IDENTIFY, NURTURE, AND ULTIMATELY LEAD TO SUCCESSFUL BUSINESSES FOR DELAWARE'S FUTURE. E3 COMPLEMENTS AND WORKS IN TANDEM WITH REINVENTING DELAWARE, WORKING TO CREATE THE CONDITIONS FOR SUCCESSFUL ENTREPRENEURS AND INNOVATORS ACROSS ALL COMMUNITIES, WITH A PARTICULAR FOCUS ON UNDERREPRESENTED ENTREPRENEURS. E3 ATTEMPTS TO BUILD CITY-WIDE STRATEGIC COALITIONS DESIGNED TO IDENTIFY, VET, INCUBATE, AND ACCELERATE THE LAUNCH OF NEW BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
There Du Pont Board Chair | Trustee | 1 | $0 |
Patrick Callahan Director | Trustee | 1 | $0 |
Ben Du Pont Director | Trustee | 1 | $0 |
Michael Houghton Director | Trustee | 1 | $0 |
Scott Malfitano Director | Trustee | 1 | $0 |
Bill Manning Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $50,650 |
| Fundraising events | $311,723 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $227,862 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $590,235 |
| Total Program Service Revenue | $7,000 |
| Investment income | $303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$212,710 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $384,828 |
| 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. | $96,659 |
| Compensation of current officers, directors, key employees. | $9,666 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,516 |
| Pension plan accruals and contributions | $6,269 |
| Other employee benefits | $9,350 |
| Payroll taxes | $11,488 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,745 |
| Advertising and promotion | $20,745 |
| Office expenses | $15 |
| Information technology | $11,938 |
| 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 | $50 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,667 |
| Insurance | $2,823 |
| All other expenses | $0 |
| Total functional expenses | $437,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,958 |
| Savings and temporary cash investments | $391,872 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,800 |
| 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 | $7,999 |
| Other assets | $0 |
| Total assets | $571,629 |
| Accounts payable and accrued expenses | $231,394 |
| 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 | $231,394 |
| Net assets without donor restrictions | $340,235 |
| 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 | $571,629 |