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Nonprofiteer
← THE PETE DU PONT FREEDOM FOUNDATION LLC

Form 990 for tax year 2022

Filed by THE PETE DU PONT FREEDOM FOUNDATION LLC.

Totals

Total revenue
$384,828
Total expenses
$437,966
Contributions and grants received
$590,235
Grants paid
$0
Program service revenue
$7,000
Investment income
$303
Other revenue
-$212,710
Total assets, end of year
$571,629
Total liabilities, end of year
$231,394
Net assets or fund balances, end of year
$340,235
Program services expenses (Part IX)
$398,405
Management and general expenses
$31,234
Fundraising expenses
$8,327
Program service expenses (Part III)
$398,405

Program services were 91.0% 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.

  • 1b · Membership dues

    $50,650

  • 1c · Fundraising events

    $311,723

  • 1f · All other contributions, gifts and grants

    $227,862

  • 2a · Program service revenue: REINVENTING DELAWARE

    total $7,000 · related or exempt $7,000

  • 3 · Investment income

    total $303 · excluded $303

  • 8a · Fundraising events: gross income

    $13,750

  • 8a · Fundraising events: contributions included on line 1c

    $311,723

  • 8b · Fundraising events: direct expenses

    $226,460

  • 8c · Net income from fundraising events

    total -$212,710 · excluded -$212,710

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $96,659 · program services $85,060 · management and general $9,666 · fundraising $1,933

  • 7 · Other salaries and wages

    total $70,516 · program services $62,054 · management and general $7,052 · fundraising $1,410

  • 8 · Pension plan contributions

    total $6,269 · program services $5,517 · management and general $627 · fundraising $125

  • 9 · Other employee benefits

    total $9,350 · program services $8,228 · management and general $935 · fundraising $187

  • 10 · Payroll taxes

    total $11,488 · program services $10,109 · management and general $1,149 · fundraising $230

  • 11c · Fees: accounting

    total $1,750 · management and general $1,750

  • 11g · Fees: other

    total $6,745 · program services $1,446 · management and general $5,287 · fundraising $12

  • 12 · Advertising and promotion

    total $20,745 · program services $16,596 · fundraising $4,149

  • 13 · Office expenses

    total $15 · program services $6 · management and general $3 · fundraising $6

  • 14 · Information technology

    total $11,938 · program services $10,505 · management and general $1,194 · fundraising $239

  • 19 · Conferences, conventions and meetings

    total $50 · program services $50

  • 22 · Depreciation, depletion and amortization

    total $10,667 · program services $10,667

  • 23 · Insurance

    total $2,823 · management and general $2,823

  • 24a · Other expenses: PROGRAM EXPENSES

    total $186,619 · program services $186,619

  • 24b · Other expenses: BANK FEES

    total $1,029 · program services $906 · management and general $102 · fundraising $21

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $730 · program services $642 · management and general $73 · fundraising $15

  • 24d · Other expenses: BUSINESS REGISTRATION F

    total $573 · management and general $573

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $203,499 · end of year $165,958

  • 2 · Savings and temporary cash investments

    beginning of year $391,676 · end of year $391,872

  • 4 · Accounts receivable

    beginning of year $3,200 · end of year $5,800

  • 9 · Prepaid expenses and deferred charges

    beginning of year $121,791

  • 14 · Intangible assets

    beginning of year $18,666 · end of year $7,999

  • 17 · Accounts payable and accrued expenses

    beginning of year $185,299 · end of year $231,394

  • 19 · Deferred revenue

    beginning of year $160,160

  • 27 · Net assets without donor restrictions

    beginning of year $393,373 · end of year $340,235

Mission and programs · 2022

Mission

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.

  • 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

    Expenses $91,796 · Revenue $7,000

  • 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.

    Expenses $306,609

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • There Du Pont

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Callahan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ben Du Pont

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Houghton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Malfitano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bill Manning

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Martinelli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nora Gonzalez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Derwin Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Pierre Du Pont

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elise Zoller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dan Freeman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tony Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Johnnie

    EXECUTIVE DIRECTOR

    Total calculated
    $100,659
    From this org
    $96,659
    From related orgs
    $0
    Other
    $4,000
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2023
IRS schema version
2022v5.0
Source object
202303179349306250

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