Pennington Medical Foundation

Nonprofit profile at a glance

EIN
720883155
IRS 990 coverage
2010–2023
Forms available
Form 990 2023, Form 990-T 2023
Location
Baton Rouge, LA, USA
Phone
2257632511
Rating confidence
Limited
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$0
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

14 people listed

People named in this filing

  • PAULA PENNINGTON DE LA BRETONNE (CHAIR/TRUSTEE)
  • G LEE GRIFFIN (TRUSTEE)
  • CHARLES LAMAR (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The pennington medical foundation administers the trust established by c.b. Pennington and irene w. Pennington, provides financial support for medical research programs of the pennington biomedical research center, a campus of the board of supervisors of Louisiana state university agricultural and mechanical college, by providing capital and seed funding, and supports the development and expansion of the center and its programs.

What it reported doing in 2023

Supporting various research and faculty projects for the pennington biomedical research center.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 83
  • Accountability: 78
  • Sustainability: NotEnoughData
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 25th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -20.4% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -24.8% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -23.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 10 of 12 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 9 of 10 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.