Overview
What is Pennington Medical Foundation?
The Pennington Medical Foundation, situated in Baton Rouge, Louisiana, is a nonprofit organization that manages a trust established by C.B. Pennington and Irene W. Pennington. Its primary mission is to financially support medical research programs at the Pennington Biomedical Research Center, a campus affiliated with Louisiana State University's Agricultural and Mechanical College's Board of Supervisors. The foundation accomplishes this by providing capital grants and seed funding for these research initiatives. Additionally, the Pennington Medical Foundation contributes to the growth and expansion of the research center and its programs. In the context of its operations, the Pennington Medical Foundation offers salary supplements to retain physician scientists at the Pennington Biomedical Research Center. This approach helps retain talented researchers, ensuring the continuity and advancement of medical research in the center.
Is Pennington Medical Foundation legitimate?
Pennington Medical Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pennington Medical Foundation 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.
Heare are some key statistics you may want to consider:
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For more financial information, click here
What is the mission statement of Pennington Medical Foundation?
The Pennington Medical Foundation oversees a trust established by C.B. Pennington and Irene W. Pennington. Its primary mission is to provide financial support for medical research programs at the Pennington Biomedical Research Center. This support includes providing capital grants and seed funding to advance the center's research initiatives. The foundation also supports the development and expansion of the center and its programs. The Pennington Biomedical Research Center is a campus of the Louisiana State University Agricultural and Mechanical College's Board of Supervisors.
Who is the CEO of Pennington Medical Foundation?
Paula Pennington De La Br is the Principal Officer of Pennington Medical Foundation.
What is the revenue of Pennington Medical Foundation?
Pennington Medical Foundation's revenue in 2022 was $18,207.
Who are the executives of Pennington Medical Foundation and what are their salaries?
There 13 volunteers at Pennington Medical Foundation.
Here are 14 key members and their salaries:
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Where can I find the form 990 for Pennington Medical Foundation?
Pennington Medical Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Pennington Medical Foundation
The Pennington Medical Foundation, established by C.B. Pennington and Irene W. Pennington, fulfills its mission by administering their trust and providing financial support. This support is primarily directed towards medical research programs at the Pennington Biomedical Research Center. The Foundation plays a crucial role in this endeavor by offering capital grants and seed funding. By providing such financial aid, the Pennington Medical Foundation facilitates the growth and development of the Pennington Biomedical Research Center and its related programs. The ultimate goal of the Foundation is to bolster the research efforts at the center, thereby contributing to advancements in the field of medical science.
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Impact
October, 2024
Pennington Medical Foundation has a significant impact on advancing medical research through its financial support for the Pennington Biomedical Research Center. By administering the trust established by C.B. and Irene W. Pennington, the foundation plays a crucial role in providing capital grants and seed funding. This funding is essential for developing and expanding research programs, allowing the center to attract and retain top physician scientists by offering salary supplements.
The foundation's contributions facilitate groundbreaking research that addresses critical health issues, enhancing the overall mission of improving public health through scientific discovery. By supporting innovative projects and the retention of leading experts, the Pennington Medical Foundation effectively drives advancements in medical knowledge and treatment, benefitting both the local community in Baton Rouge and the wider field of health science.
This information is meant to be a general summary of Pennington Medical Foundation. 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: -$17,964
- Gross Receipts: $61,767
Assets and Liabilities:
- Total Assets: $281,987
- Total Liabilities: $281,987
- Net Assets: $0
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Organization Details
Founding Year
1980
Phone
(225) 763-2511Principal Officer
Paula Pennington De La Br
Main Address
6400 PERKINS ROAD, BATON ROUGE, LA, 70808
NTEE Category
Code: B120 - Education
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