William N Pennington Foundation
- Assets
- $502.2m
- Revenue
- $24.9m
- Investments
- $488.4m
- Employees
- 0
- Location
- Reno, NV
- Founding
- 04/2019
- Data as of
- 12/2020
- 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 12/2020, William N Pennington Foundation generated $24.9m in total revenue. All expenses for the organization totaled $34.3m during the year ending 12/2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred V Scarpello Co-President | 20 | $300,000 | |
Richard P Banis Co-President | 20 | $300,000 | |
Grant D Anderson III Treasurer/cfo | 40 | $251,500 | |
Racquel Bridgewater Secretary/grants Manager | 40 | $151,500 | |
Richard Stoltz Grants Coordinator | 40 | $119,000 | |
Michael Arciniega Grants Auditor | 40 | $66,231 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs | 12/30/21 | $977,296 |
Morgan Stanley | 12/30/21 | $565,578 |
Cambridge Associates | 12/30/21 | $381,110 |
View All Vendors
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $18 |
| Interest on Savings | $19,646 |
| Dividends & Interest | $8,687,323 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,207,197 |
| Capital Gain Net Income | $16,207,972 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $24,914,184 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,003,000 |
| Other employee salaries and wages | $390,785 |
| Pension plans, employee benefits | $98,928 |
| Interest | $0 |
| Taxes | $165,347 |
| Depreciation | $42,872 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $293 |
| Printing and publications | $0 |
| Other expenses | $1,752,153 |
| Total operating and administrative expenses | $5,751,933 |
| Contributions, gifts, grants paid | $28,503,752 |
| Total expenses and disbursements | $34,255,685 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,484,972 |
| Net Accounts receivable | $913,254 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $349,343,711 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $4,423,605 |
| Total assets | $502,236,790 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $10,185,375 |
| 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 | $10,185,375 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William N Pennington Foundation Reno, NV | $502,236,790 | $24,914,184 |
Sobrato Foundation Mountain View, CA | $153,186,156 | $3,690,713 |
Cause Communications Los Angeles, CA | $1,679,573 | $7,838,789 |
Henderson Family Foundation A California Charitable Organization Burlingame, CA | $111,333,025 | $137,987,606 |
Childrens Initiative San Diego, CA | $3,333,433 | $3,356,719 |
3200 Adams Holding Corp Los Angeles, CA | $13,494,424 | $950,940 |
Gvngorg Beverly Hills, CA | $461,558 | $999,295 |
Arizona Grantmakers Forum Phoenix, AZ | $0 | $309,042 |
League Of California Community Foundations Sonora, CA | $1,702,745 | $954,379 |
La-Tech Org Santa Monica, CA | $413,917 | $840,684 |
Cornerstone Ondemand Foundation Santa Monica, CA | $241,025 | $470,878 |
Transformational Opportunities Inc Prescott Valley, AZ | $130,151 | $365,740 |