Pennington Medical Foundation

Baton Rouge, LAUnknown exempt organizationEIN 72-0883155

On file with the IRS6400 Perkins Road · Baton Rouge, LA

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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.

Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $100K a year · 476% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
10
of 12 voting members
Looks good: 10 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
-100% vs prior year
Spent
$0
Net assets
$0
By yearFY2020–FY2023
Revenue
$0
FY2023▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2020$37K
FY2021$29K
FY2022$18K
FY2023$0
Expenses
$0
FY2023▼ -100%
Tap a bar for its year
Expenses by fiscal year
FY2020$117K
FY2021$150K
FY2022$217K
FY2023$0
Net assets
$0
FY2023
Tap a bar for its year
Net assets by fiscal year
FY2020$683K
FY2021$618K
FY2022$0
FY2023$0

From the FY2023 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Who runs it and what they're paid

14 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
Vice Chair/Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Pennington Medical 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds medical research and program development for a biomedical center.

Questions for Pennington Medical Foundation

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Supporting various research and faculty projects for the pennington biomedical research center.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$0
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
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 FY23End FY23
Cash and savingsLn 1–2$276K$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$282K$0
LiabilitiesLn 26$282K$0
Net assetsLn 32$0$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $0$0$0$0 990 PDF
FY2022 $18K$217K−$199K$0 990 PDF
FY2021 $29K$150K−$122K$618K 990 PDF
FY2020 $37K$117K−$80K$683K 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 FY2023 990 (6 parts)
Part I · Summary $0 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$17,964$0
I-11 Other revenuePrior year $36,171$0
I-12 Total revenuePrior year $18,207$0
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $217,144$0
I-18 Total expensesPrior year $217,144$0
I-19 Revenue less expensesPrior year −$198,937$0
Part VI · Governance 10 of 12 board members independent, 2 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $0 across 1 lines filed
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
Part IX · Statement of functional expenses $0 across 0 lines filed
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $0 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $275,545$0
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $6,442$0
X-16 Total assetsStart of year $281,987$0
X-17 Accounts payable and accrued expensesStart of year $8,141$0
X-25 Other liabilitiesStart of year $273,846$0
X-26 Total liabilitiesStart of year $281,987$0
X-32 Total net assets or fund balancesStart of year $0$0
X-33 Total liabilities and net assetsStart of year $281,987$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$0
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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