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Pallet Foundation FY2021 filing

Tax-deductible

Alexandria, VA501(c)(3)Science & TechnologyEIN 54-1798031Revenue $721K in FY2021

On file with the IRS1421 Prince St Ste 340, 22314-2805 · Alexandria, VATax-exempt since Mar 1998Publicly supported charity — 170(b)(1)(A)(vi)

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The Pallet Foundation supports research, education/training and safety in the wood packaging industry while promoting the industry to end-users.

501(c)(3) charity; gifts are tax-deductible.
52¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $276K a year · 43% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
52%
of spending
Worth a look: 52% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
37 mo
of spending, in cash
Looks good: 37.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $206K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$19K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$721K
+35% vs prior year
Spent
$234K
To programs
52%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
$721K
FY2021▲ +35%
Tap a bar for its year
Revenue by fiscal year
FY2020$533K
FY2021$721K
FY2022$589K
FY2023$698K
FY2024$636K
Expenses
$234K
FY2021▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$230K
FY2021$234K
FY2022$353K
FY2023$500K
FY2024$479K
Net assets
$2.7M
FY2021▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.2M
FY2021$2.7M
FY2022$2.5M
FY2023$3.1M
FY2024$3.5M

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

52 cents of each dollar spent went to programs.

Program services 52% · $122K Management & general 47% · $110K Fundraising 1% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Joe Obrien
Trustee
$0Pt VII · Sec A
See Pallet Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes wood packaging safety and education, supporting industry research and end-user awareness.

Provided by the organization

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3 programs · $103K · in their own filed words · FY2021
01

The Association has hired a consultant to develop & implement a new organization charter and strategic plan for an NWPCA Mexico Chapter. The plan would include the development of a newsletter along with organizating a meeting in Mexico.

$38Kprogram expense
02

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.

$36Kprogram expense
03

The Foundation continues to fund research with Virginia Tech University to investigate the effect of Plastic Paids and Drums on compression stresses on the top surface of wooden pallets.

$28Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Western Pallet AssociationFY2024$66K
Donor Advised Charitable Giving INCFY2024$50K
Natl Christian Charitable Fdn INCFY2024$32K
Way Foundation INCFY2024$30K
Maccauley FoundationFY2024$22K
Vanguard Charitable Endowment ProgramFY2024$6K
Total grants receivedfrom 6 funders$206K
See all 6 funders →
Grants paid · 5 grants · $274K · 2020–2024
Individual RecipientFY2024$42,500
Individual RecipientFY2022$120,000
Individual RecipientFY2020$56,500
Individual RecipientFY2020$27,518
Ul Verification ServicesFY2020$27,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$721K
Ln 12
Gifts and grantsLn 1h$453K
Investment incomeLn 3$268K
Money outPt IX
$234K
Ln 25
Programscol B$122K
Managementcol C$110K
Fundraisingcol D$3K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$722K
Total assetsLn 16$2.7M
LiabilitiesLn 26$19K
PeoplePt VI, VII
26
listed · VII A
PaidVII A0
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$453K
Fundraising eventsLn 1c$358K
Investment incomeLn 3$268K
Gains on assetsLn 7$236K
Total revenueLn 12$721K
Assets in detailPt X, end of year
CashLn 1$722K
Cash and savings togetherLn 1–2$722K
InvestmentsLn 11–13$1.9M
Land, buildings, equipmentLn 10c$8K
Total assetsLn 16$2.7M
LiabilitiesLn 26$19K
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 619
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$437K$722K
InvestmentsLn 11–13$1.7M$1.9M
Land, buildings, equipmentLn 10c$11K$8K
Total assetsLn 16$2.2M$2.7M
LiabilitiesLn 26$15K$19K
Net assetsLn 32$2.2M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$3K$3K
Conferences, conventions and meetingsLn 19$32K$32K
Depreciation, depletion and amortizationLn 22$3K$3K
Other expenses (24a–d)Ln 24$187K$122K$63K$3K
All other expensesLn 24e$8K$8K
Total functional expensesLn 25$234K$122K$110K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $636K$479K$157K$3.5M 990 PDF
FY2023 $698K$500K$198K$3.1M 990 PDF
FY2022 $589K$353K$236K$2.5M 990 PDF
FY2021 Viewing $721K$234K$487K$2.7M 990 PDF
FY2020 $533K$230K$303K$2.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $720,970 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $293,390$453,221
I-9 Program service revenue$0
I-10 Investment incomePrior year $239,260$267,749
I-11 Other revenue$0
I-12 Total revenuePrior year $532,650$720,970
I-13 Grants and similar amounts paidPrior year $83,500$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $146,506$233,920
I-18 Total expensesPrior year $230,006$233,920
I-19 Revenue less expensesPrior year $302,644$487,050
Part VI · Governance 24 of 24 board members independent, 1 to look at
VI-1a Voting members of the governing body24
VI-1b Independent voting members24
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $720,970 across 6 lines filed
VIII-1c Fundraising events$357,987
VIII-1f All other contributions, gifts and grants$95,234
VIII-1h Total contributions, gifts and grants$453,221
VIII-3 Investment incomeRelated to mission $31,400$31,400
VIII-7 Net gain or loss on sales of assetsRelated to mission $236,349$236,349
VIII-12 Total revenueRelated to mission $267,749 · Unrelated business $0 · Excluded from tax $0$720,970
Part IX · Statement of functional expenses $233,920 across 5 lines filed
IX-11c Accounting feesManagement $3,375$3,375
IX-19 Conferences, conventions and meetingsManagement $32,401$32,401
IX-22 Depreciation, depletion and amortizationManagement $2,616$2,616
IX-24 Other expenses (24a–d)Programs $121,561 · Management $62,750 · Fundraising $2,821$187,132
IX-24e All other expensesManagement $8,396$8,396
IX-25 Total functional expensesPrograms $121,561 · Management $109,538 · Fundraising $2,821$233,920
Part X · Balance sheet $2,718,511 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $437,087$722,397
X-4 Accounts receivableStart of year $43,949$44,024
X-9 Prepaid expenses and deferred chargesStart of year $6,250$6,250
X-10c Land, buildings and equipment, netStart of year $10,901$8,284
X-11 Publicly traded securitiesStart of year $1,729,345$1,937,556
X-16 Total assetsStart of year $2,227,532$2,718,511
X-17 Accounts payable and accrued expensesStart of year $15,182$7,611
X-19 Deferred revenue$11,500
X-26 Total liabilitiesStart of year $15,182$19,111
X-27 Net assets without donor restrictionsStart of year $2,212,350$2,699,400
X-32 Total net assets or fund balancesStart of year $2,212,350$2,699,400
X-33 Total liabilities and net assetsStart of year $2,227,532$2,718,511
Part XI · Reconciliation of net assets $2,699,400 net assets at year end
XI-1 Total revenue$720,970
XI-2 Total expenses$233,920
XI-3 Revenue less expenses$487,050
XI-4 Net assets at start of year$2,212,350
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,699,400

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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