Irene W And C B Pennington Foundation
- Assets
- $0.0
- Revenue
- $6.0m
- Investments
- $122.5m
- Employees
- 0
- Location
- Baton Rouge, LA
- Founding
- 06/1982
- Data as of
- 12/2020
- EIN
- 72-0938097
Organization Overview
Irene W And C B Pennington Foundation is located in Baton Rouge, LA. The organization was established in 1982. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Irene W And C B 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, Irene W And C B Pennington Foundation generated $6.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (28.3%) each year. All expenses for the organization totaled $9.1m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Irene W And C B Pennington Foundation has awarded 223 individual grants totaling $11,369,663. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori J Bertman President/ceo | 40 | $262,500 | |
William Hodgkins Chairman | 40 | $69,634 | |
Rachel A Konick Staff | 40 | $67,708 | |
Claude B Pennington III Trustee | 0 | $0 | |
Daryl B Pennington Sr Trustee | 0 | $0 | |
Paula P Delabretonne Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ubs Financial Services | 12/30/21 | $122,864 |
Equitas Capital Advisors | 12/30/21 | $293,094 |
Merrill Lynch | 12/30/21 | $74,808 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,710 |
| Dividends & Interest | $1,221,342 |
| Profit on Inventory Sales | $0 |
| Other Income | $519,798 |
| Total Revenue | $6,041,681 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Pension plans, employee benefits | $28,128 |
| Depreciation | $30,457 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $3,378,172 |
| Contributions, gifts, grants paid | $5,677,324 |
| Total expenses and disbursements | $9,055,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,043,218 |
| Investments—mortgage loans | $0 |
| Investments—other | $103,113,892 |
| Other assets | $900 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $54,900 |
Grants Awarded
Over the last fiscal year, Irene W And C B Pennington Foundation has awarded $5,692,339 in support to 133 organizations.
| Grant Recipient | Amount |
|---|---|
BATON ROUGE GENERAL FOUNDATION PURPOSE: BRG PENNINGTON CANCER CENTER EXPANSION | $375,922 |
EAST FELICIANA PARISH SHERIFF'S OFFICE PURPOSE: 2021 DONATION | $300,000 |
MOUNT ZION BAPTIST CHURCH #2 PURPOSE: IPSO COMMUNITY YOUTH OUTREACH PROGRAM | $200,000 |
Clinton, LA PURPOSE: REACHING MORE "LITTLE" MINDS | $175,000 |
New York, NY PURPOSE: ASSET MAPPING COMMUNITY | $150,000 |
IBERVILLE PARISH SHERIFF'S OFFICE PURPOSE: STORAGE BUILDING ADDITION FOR TRAINING | $145,350 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
Scharbauer Foundation Inc Midland, TX | $271,051,602 | $69,061,413 |
Wildcat Foundation Fort Worth, TX | $836,895 | $18,132,970 |
Eugene Mcdermott Foundation Dallas, TX | $220,528,387 | $97,884,779 |
Henderson-Wessendorff Foundation Richmond, TX | $228,160,288 | $17,605,762 |
Walter E Heller Foundation Dallas, TX | $0 | $637,126 |
Carl & Marilynn Thoma Foundation Dallas, TX | $0 | $929,287 |
Beloved In Christ Foundation Austin, TX | $172,986,617 | $3,113,726 |
The Kathryn H Craig Stephen Dudley Heard And Lillie D Heard Memorial Dallas, TX | $1,384 | -$449,918 |
Hamill Foundation Houston, TX | $203,029,849 | $39,782,936 |
Mays Family Foundation San Antonio, TX | $0 | $19,028,281 |
Robert J Kleberg Jr And Helen C Kleberg Foundation San Antonio, TX | $227,820,176 | $32,756,087 |