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← PENNINGTON BIOMEDICAL RESEARCH FOUNDATION

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 Wilkinson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Annette D Barton

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Arthur E Favre

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • C Kris Kirkpatrick

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Charles Lamar

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Christel C Slaughter PhD

    BOARD MEMBER (THRU 12/24)

    Total calculated
    $0
    Hours/week
    1
  • Claude B Pennington III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Dr John Kirwan PhD

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1
  • Fran Harvey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • George D Nelson Jr

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1
  • John Spain

    BOARD MEMBER (THRU 4/25)

    Total calculated
    $0
    Hours/week
    1
  • Lori Melancon

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1
  • Marvin Borgmeyer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Monica Zumo

    TREASURER

    Total calculated
    $0
    Hours/week
    1
  • Paula P De La Bretonne

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Rebecca Boniol

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1
  • Sharon Weston Broome

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1
  • Sid Edwards

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1
  • Tom Easterly

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Veneeth Iyengar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • William Tate IV

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1
  • Andre 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 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 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.

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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