Parent Petroleum Foundation
- Assets
- $25.5k
- Revenue
- $313.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Warrenville, IL
- Founding
- 02/2019
- Data as of
- 12/2022
- EIN
- 82-4836025
Organization Overview
Parent Petroleum Foundation is located in Warrenville, IL. The organization was established in 2019. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Parent Petroleum 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 12/2022, Parent Petroleum Foundation generated $313.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $307.7k during the year ending 12/2022. While expenses have increased by 13.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Parent Petroleum Foundation has awarded 14 individual grants totaling $728,000. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARENT PETROLEUM FOUNDATION SPONSORS AN ANNUAL GOLF OUTING TO RAISE MONEY FOR VARIOUS CHARITIES THAT THE FOUNDATION SUPPORTS. REVENUE RAISED WAS 313,083 CHARITY GRANTS: BIG HEARTS OF FOX VALLEY NFP 1,000 CASA KANE COUNTY 75,000 CHICAGO BLACKHAWKS FOUNDATION 75,000 FRIENDS OF THE FOLDS OF HONOR 75,000 LIVINGWELL CANCER RESOURCE CENTER 75,000 MUSCULAR DYSTROPHY ASSOCIATION INC 5,000
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter M Spina President | 1 | $0 | |
Ryan Fuelling Secretary | 1 | $0 | |
William E Boylan Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $313,083 |
| Total Revenue | $313,083 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,650 |
| Total operating and administrative expenses | $1,650 |
| Contributions, gifts, grants paid | $306,000 |
| Total expenses and disbursements | $307,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,486 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $25,486 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Parent Petroleum Foundation has awarded $306,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BIG HEARTS OF FOX VALLEY NFP PURPOSE: GENERAL OPERATIONS | $1,000 |
CASA KANE COUNTY PURPOSE: GENERAL OPERATIONS | $75,000 |
CHICAGO BLACKHAWKS FOUNDATION PURPOSE: GENERAL OPERATIONS | $75,000 |
FRIENDS OF THE FOLDS OF HONOR FOUND PURPOSE: GENERAL OPERATIONS | $75,000 |
LIVINGWELL CANCER RESOURCE CENTER PURPOSE: GENERAL OPERATIONS | $75,000 |
MUSCULAR DYSTROPHY ASSOCIATION INC PURPOSE: GENERAL OPERATIONS | $5,000 |