Form 990 for tax year 2024
Filed by PENNINGTON BIOMEDICAL RESEARCH FOUNDATION.
Totals
- Total revenue
- $4,483,977
- Total expenses
- $4,163,749
- Contributions and grants received
- $1,558,960
- Grants paid
- $0
- Program service revenue
- $963,005
- Investment income
- $1,792,035
- Other revenue
- $169,977
- Total assets, end of year
- $29,642,935
- Total liabilities, end of year
- $7,473,585
- Net assets or fund balances, end of year
- $22,169,350
- Program services expenses (Part IX)
- $2,627,598
- Management and general expenses
- $520,380
- Fundraising expenses
- $1,015,771
- Program service expenses (Part III)
- $2,627,598
Program services were 63.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$144,557
-
1e · Government grants (contributions)
$610,787
-
1f · All other contributions, gifts and grants
$803,616
-
1g · Noncash contributions included above
$79,072
-
2a · Program service revenue: DEVELOPMENT SERVICE AGREEMENT
total $711,991 · related or exempt $711,991
-
2b · Program service revenue: FUND MANAGEMENT
total $251,014 · related or exempt $251,014
-
3 · Investment income
total $903,289 · unrelated business $864 · excluded $902,425
-
5 · Royalties
total $15,724 · excluded $15,724
-
7a · Gross sales of assets other than inventory
securities $9,814,175
-
7b · Less cost or other basis and sales expenses
securities $8,925,429
-
7c · Gain or loss
securities $888,746
-
7d · Net gain or loss
total $888,746 · excluded $888,746
-
8a · Fundraising events: gross income
$171,001
-
8a · Fundraising events: contributions included on line 1c
$144,557
-
8b · Fundraising events: direct expenses
$52,632
-
8c · Net income from fundraising events
total $118,369 · excluded $118,369
-
11a · Other revenue: OTHER INCOME
total $35,884 · related or exempt $35,884
-
11e · Other revenue, total
$35,884
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $516,268 · management and general $212,386 · fundraising $303,882
-
6 · Compensation of disqualified persons
total $1,005,566 · program services $572,397 · fundraising $433,169
-
9 · Other employee benefits
total $128,367 · program services $35,689 · management and general $26,403 · fundraising $66,275
-
10 · Payroll taxes
total $67,344 · program services $18,723 · management and general $13,852 · fundraising $34,769
-
11b · Fees: legal
total $15,335 · program services $14,462 · management and general $817 · fundraising $56
-
11c · Fees: accounting
total $43,100 · program services $40,647 · management and general $2,296 · fundraising $157
-
11d · Fees: lobbying
total $5,000 · management and general $5,000
-
11f · Fees: investment management
total $230,752 · program services $230,752
-
11g · Fees: other
total $609,970 · program services $575,248 · management and general $32,497 · fundraising $2,225
-
13 · Office expenses
total $44,911 · program services $14,486 · management and general $11,200 · fundraising $19,225
-
16 · Occupancy
total $238,656 · program services $188,754 · management and general $18,908 · fundraising $30,994
-
17 · Travel
total $92,204 · program services $89,135 · management and general $1,886 · fundraising $1,183
-
22 · Depreciation, depletion and amortization
total $3,670 · management and general $3,670
-
23 · Insurance
total $76,125 · management and general $76,125
-
24a · Other expenses: SPONSORSHIPS & DONATION
total $745,143 · program services $745,143
-
24b · Other expenses: RESEARCH SUPPLIES & EQU
total $316,182 · program services $316,182
-
24c · Other expenses: BUSINESS DEVELOPMENT
total $165,182 · program services $40,364 · management and general $10,762 · fundraising $114,056
-
24d · Other expenses: MEETING EXPENSE
total $102,881 · program services $97,398 · management and general $2,354 · fundraising $3,129
-
24e · All other expenses
total -$242,907 · program services -$351,782 · management and general $102,224 · fundraising $6,651
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $166,919 · end of year $354,857
-
2 · Savings and temporary cash investments
beginning of year $2,495,027 · end of year $2,170,717
-
3 · Pledges and grants receivable
beginning of year $1,720,660 · end of year $1,446,914
-
4 · Accounts receivable
beginning of year $127,452 · end of year $191,073
-
9 · Prepaid expenses and deferred charges
beginning of year $43,546 · end of year $137,841
-
10a · Land, buildings and equipment: cost or other basis
$40,513
-
10b · Land, buildings and equipment: accumulated depreciation
$20,355
-
10c · Land, buildings and equipment, net
beginning of year $9,058 · end of year $20,158
-
11 · Investments: publicly traded securities
beginning of year $21,066,119 · end of year $21,272,888
-
12 · Investments: other securities
beginning of year $3,041,775 · end of year $3,266,389
-
15 · Other assets
beginning of year $860,435 · end of year $782,098
-
17 · Accounts payable and accrued expenses
beginning of year $202,793 · end of year $226,514
-
19 · Deferred revenue
beginning of year $727,815 · end of year $248,302
-
25 · Other liabilities
beginning of year $6,810,377 · end of year $6,998,769
-
27 · Net assets without donor restrictions
beginning of year $2,244,843 · end of year $2,359,986
-
28 · Net assets with donor restrictions
beginning of year $19,545,163 · end of year $19,809,364
Mission and programs · 2024
Mission
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.
-
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.
Expenses $651,959
-
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.
Expenses $1,905,317 · Revenue $998,889
-
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.
Expenses $70,322
As filed on the 2024 return.
Listed in Part VII
-
Ann WilkinsonANN WILKINSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Annette D BartonANNETTE D BARTON
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Arthur E FavreARTHUR E FAVRE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
C Kris KirkpatrickC KRIS KIRKPATRICK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Charles LamarCHARLES LAMAR
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Christel C Slaughter PhDCHRISTEL C SLAUGHTER PHD
BOARD MEMBER (THRU 12/24)
- Total calculated
- $0
- Hours/week
- 1
-
Claude B Pennington IIICLAUDE B PENNINGTON III
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr John Kirwan PhDDR JOHN KIRWAN PHD
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Fran HarveyFRAN HARVEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
George D Nelson JrGEORGE D NELSON JR
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
John SpainJOHN SPAIN
BOARD MEMBER (THRU 4/25)
- Total calculated
- $0
- Hours/week
- 1
-
Lori MelanconLORI MELANCON
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Marvin BorgmeyerMARVIN BORGMEYER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Monica ZumoMONICA ZUMO
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Paula P De La BretonnePAULA P DE LA BRETONNE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rebecca BoniolREBECCA BONIOL
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Sharon Weston BroomeSHARON WESTON BROOME
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Sid EdwardsSID EDWARDS
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Tom EasterlyTOM EASTERLY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Veneeth IyengarVENEETH IYENGAR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
William Tate IVWILLIAM TATE IV
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Andre GreeneANDRE GREENE
CHIEF FINANCIAL OFFICER (THRU 11/24)
- Total calculated
- $165,102
- From this org
- $158,523
- From related orgs
- $0
- Other
- $6,579
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,523
- Bonus
- $0
- Other
- $0
- Deferred
- $6,579
- Nontaxable benefits
- $0
- Filer's total
- $165,102
-
Brianna BarrettBRIANNA BARRETT
CHIEF DEVELOPMENT OFFICER
- Total calculated
- $256,778
- From this org
- $244,430
- From related orgs
- $0
- Other
- $12,348
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $234,430
- Bonus
- $10,000
- Other
- $0
- Deferred
- $12,348
- Nontaxable benefits
- $0
- Filer's total
- $256,778
-
Janet L OlsonJANET L OLSON
PRESIDENT/CEO
- Total calculated
- $94,208
- From this org
- $94,208
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 2 · Substantiation required before reimbursing expenses
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
PENNINGTON MEDICAL FOUNDATION (FINAL 63024)
501(C)(3) · TRUST ADMINISTRATION · LA
-
PENNINGTON BIOMEDICAL RESEARCH CNTR CAMPUS BOARD OF SUPERVISORS
501(C)(3) · RESEARCH IN NUTRITION AND PREVENTIVE MEDICINE · LA
Directly controlled by BOARD OF SUPERVISORS OF LSU A&M COLLEGE
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
PENNINGTON DISCOVERIES INC
C · HOLDING COMPANY · LA · 100% owned · controlled entity
-
PENNINGTON BIOMEDICAL RESEARCH FOUNDATION TRUST
T · GRANTOR TRUST · LA · 100% owned · share of income $147,250 · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 23 April 2026
- IRS schema version
- 2024v5.5
- Source object
- 202601189349301035
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