Overview
What is The Pallet Foundation Inc?
The Pallet Foundation Inc, located at 1421 Prince Street STE 340, Alexandria, VA 22314, is a nonprofit organization committed to advancing research, education, and safety in the wood packaging industry. They collaborate with Virginia Tech University to investigate the impact of Plastic Paids and Drums on compression stresses on wooden pallets. Beyond research, their mission extends to promoting the wood packaging industry to its end-users. By supporting this sector, they aim to enhance its overall efficiency and effectiveness.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Star Rating)
The Pallet Foundation Inc has achieved an impressive rating of 93%, reflecting strong performance in accountability and finance. This high score indicates that the organization demonstrates a commitment to transparency and efficient use of resources. Notably, the foundation boasts an independent board of 23 members, enhancing its governance and decision-making processes.
The foundation's financial practices are robust, as evidenced by a perfect score in key areas such as its audit and oversight committee, conflict of interest policy, and whistleblower policy. Furthermore, the organization effectively manages its liabilities, presenting a low liabilities-to-assets ratio of just 2.85%, which suggests a sound financial footing.
However, while the Pallet Foundation excels in financial accountability (with a program expense ratio of 69.45%), it is essential for potential donors and stakeholders to continuously monitor its impact and effectiveness in achieving its mission. Overall, the organization's governance practices and financial efficiency position it as a reliable choice for charitable contributions.
This AI summary has been generated from information found on Charity Navigator.
Is The Pallet Foundation Inc legitimate?
The Pallet Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Pallet Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of The Pallet Foundation Inc?
The Pallet Foundation Inc's mission is centered around supporting research, education, and safety in the wood packaging industry. Additionally, the organization works towards promoting this sector to its end-users. In carrying out its mission, the foundation funds studies, such as the one with Virginia Tech University, to investigate the impact of Plastic Paids and Drums on the compression stresses on the top surface of wooden pallets. By doing so, it aims to enhance the overall quality and efficiency of the wood packaging industry.
Who is the CEO of The Pallet Foundation Inc?
Michael Saylor is the Treasurer of The Pallet Foundation Inc.
What is the revenue of The Pallet Foundation Inc?
The Pallet Foundation Inc's revenue in 2022 was $589,163.
Who are the executives of The Pallet Foundation Inc and what are their salaries?
There 25 volunteers at The Pallet Foundation Inc.
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Where can I find the form 990 for The Pallet Foundation Inc?
The Pallet Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Pallet Foundation Inc
The Pallet Foundation Inc is committed to supporting the wood packaging industry by promoting it to end-users while simultaneously investing in research, education, and ensuring safety within this sector. Their mission involves funding studies, such as the ongoing collaboration with Virginia Tech University, to explore the impact of Plastic Paids and Drums on the compression stresses on wooden pallet tops. By doing so, The Pallet Foundation Inc aims to enhance the durability and efficiency of these pallets, ultimately benefiting various industries that rely on this packaging method. Furthermore, the organization is dedicated to providing education and training in this field, ensuring that professionals in the wood packaging industry remain knowledgeable and up-to-date with the latest developments and best practices.
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Impact
July, 2024
The Pallet Foundation Inc's impact is felt through its support for research, education/training, and safety in the wood packaging industry. By funding research endeavors, such as the investigation into the effect of Plastic Pails and Drums on compression stresses on wooden pallets in collaboration with Virginia Tech University, the Foundation contributes valuable knowledge to the industry. Additionally, its promotion of the industry to end-users helps raise awareness and understanding of wood packaging solutions. This focus on science research underscores the Foundation's commitment to advancing the sector's practices and ensuring its long-term sustainability.
This information is meant to be a general summary of The Pallet Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $44,159
- Gross Receipts: $589,163
Assets and Liabilities:
- Total Assets: $2,617,050
- Total Liabilities: $75,182
- Net Assets: $2,541,868
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Organization Details
Founding Year
1996
Principal Officer
Michael Saylor
Main Address
1421 Prince Street STE 340, Alexandria, VA, 22314
NTEE Category
Code: U40Z - Science research
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