William N Pennington Foundation
- Assets
- $490.0m
- Revenue
- $13.8m
- Investments
- $477.3m
- Employees
- 0
- Location
- Reno, NV
- Founding
- 04/2019
- Data as of
- 12/2023
- EIN
- 37-1904998
Organization Overview
William N Pennington Foundation is located in Reno, NV. The organization was established in 2019. According to its NTEE Classification (T19) the organization is classified as: Support N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. William N Pennington Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, William N Pennington Foundation generated $13.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (59.5%) each year. All expenses for the organization totaled $33.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard P Banis Co-President | 20 | $300,000 | |
Fred V Scarpello Co-President | 20 | $300,000 | |
Racquel Bridgewater Secretary/grants Manager | 40 | $180,900 | |
Grant D Anderson III Treasurer/cfo | 40 | $300,000 | |
Richard Stoltz Grants Coordinator | 40 | $143,800 | |
Michael Arciniega Grants Auditor | 40 | $109,300 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs | 12/30/23 | $724,799 |
Morgan Stanley | 12/30/23 | $672,904 |
Cambridge Associates | 12/30/23 | $436,606 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $636,010 |
| Dividends & Interest | $11,804,548 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$321,421 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,649,481 |
| Total Revenue | $13,768,618 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,080,900 |
| Other employee salaries and wages | $501,200 |
| Pension plans, employee benefits | $131,433 |
| Interest | $0 |
| Taxes | $133,868 |
| Depreciation | $37,105 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,257 |
| Printing and publications | $0 |
| Other expenses | $1,665,313 |
| Total operating and administrative expenses | $5,534,701 |
| Contributions, gifts, grants paid | $28,058,628 |
| Total expenses and disbursements | $33,593,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,993,271 |
| Net Accounts receivable | $1,646,023 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,680,284 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $338,470,475 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,435,183 |
| Total assets | $490,037,210 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $5,466,414 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,466,414 |