2024-05-14T14:44:06-05:00 2023-06-30 923320348 EAG GULF COAST LLC 8550 UNITED PLAZA BLVD SUITE 1001 BATON ROUGE LA 70809 990 2022-07-01 581767810 PENNINGTON BIOMEDICAL RESEARCH FOUNDATION PENN 2257632500 6400 PERKINS ROAD BATON ROUGE LA 70808 ANDRE GREENE PRESIDENT & CHIEF EXECUTIVE OFFICER 2257632500 2024-05-14 1 ANDRE GREENE 999009999 0 BRANDON LAGARDE P01428217 2259224600 2024-05-14 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANDRE GREENE 6400 PERKINS ROAD BATON ROUGE LA 70808 10547953 0 X WWW.PBRF.ORG X 1988 LA THE MISSION OF THE PENNINGTON BIOMEDICAL RESEARCH FOUNDATION IS TO SUPPORT THE WORK OF LSU'S PENNINGTON BIOMEDICAL RESEARCH CENTER, WHICH AIMS TO DISCOVER THE TRIGGERS OF CHRONIC DISEASES THROUGH INNOVATIVE REASEARCH THAT IMPROVES HUMAN HEALTH. 22 22 8 0 0 0 3454367 3259267 0 0 1305616 657781 702805 928846 5462788 4845894 0 0 0 0 1812001 1467121 0 0 812027 4459882 2600853 6271883 4067974 -809095 777920 29937917 26184075 7229455 7725097 22708462 18458978 THE MISSION OF THE PENNINGTON BIOMEDICAL RESEARCH FOUNDATION IS TO SUPPORT THE WORK OF LSU'S PENNINGTON BIOMEDICAL RESEARCH CENTER, WHICH AIMS TO DISCOVER THE TRIGGERS OF CHRONIC DISEASES THROUGH INNOVATIVE REASEARCH THAT IMPROVES HUMAN HEALTH. 0 0 630884 PENNINGTON BIOMEDICAL RESEARCH FOUNDATION PROVIDES ANNUAL FUNDING TO THE PENNINGTON BIOMEDICAL RESEARCH CENTER FOR ENDOWED CHAIRS, PROFESSORSHIPS, AND POSTDOCTORAL FELLOWSHIPS. THIS FUNDING SUPPORTS FACULTY SUPPLEMENTS, RESEARCH EQUIPMENT, SUPPLIES, TRAVEL, AND OTHER VITAL RESEARCH COSTS. THE FOUNDATION MAINTAINS 9 ENDOWED CHAIRS, 6 ENDOWED PROFESSORSHIPS, AND 2 ENDOWED POSTDOCTORAL FELLOWSHIPS. 2014816 PENNINGTON BIOMEDICAL RESEARCH FOUNDATION PROVIDES FUNDING TO THE PENNINGTON BIOMEDICAL RESEARCH CENTER FOR SPECIFIC RESEARCH PROJECTS, INCLUDING BUT NOT LIMITED TO THOSE RELATED TO THE INSTITUTE FOR DEMENTIA RESEARCH & PREVENTION, CHILDHOOD OBESITY & PUBLIC HEALTH, DIABETES, AND OBESITY. 64607 PENNINGTON BIOMEDICAL RESEARCH FOUNDATION PROVIDES THE PENNINGTON BIOMEDICAL RESEARCH CENTER WITH PROGRAMMATIC FUNDING FOR THREE MAJOR AREAS: PRIORITY RESEARCH PROGRAMS THAT ADDRESS THE URGENT SCIENTIFIC NEEDS OF ITS RESEARCH ENTERPRISE, DEPLOY PROACTIVE BUSINESS DEVELOPMENT IN AN EFFORT TO ENHANCE REVENUE GENERATION TO PROVIDE LONG-TERM FINANCIAL STABILITY AND HEALTH, AND POSITION THE RESEARCH CENTER AS THE WORLD LEADER IN OBESITY AND CHRONIC DISEASE THROUGH A TARGETED COMMUNICATIONS AND BRANDING INITIATIVE. 2710307 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 29 0 1 8 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 X 22 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CO DC FL IL LA MD MA MI MN NJ NY SC TN WA KY NC X X ANDRE GREENE 2257632511 6400 PERKINS RD BATON ROUGE LA 70808 ADAM KNAPP EX-OFFICIO 1.00 X 0 0 0 ANN WILKINSON BOARD MEMBER 1.00 X 0 0 0 ANNETTE D BARTON SECRETARY 1.00 X X 0 0 0 ARTHUR E FAVRE BOARD MEMBER 1.00 X 0 0 0 C BRENT MCCOY TREASURER 1.00 X X 0 0 0 C KRIS KIRKPATRICK BOARD MEMBER 1.00 X 0 0 0 CHARLES W LAMAR BOARD MEMBER 1.00 X 0 0 0 CHRIS HASKEW BOARD MEMBER 1.00 X 0 0 0 CHRISTEL C SLAUGHTER PHD BOARD MEMBER 1.00 X 0 0 0 CLAUDE B PENNINGTON BOARD MEMBER 1.00 X 0 0 0 DARYL B PENNINGTON BOARD MEMBER 1.00 X 0 0 0 FRAN HARVEY BOARD MEMBER 1.00 X 0 0 0 GEORGE D NELSON JR CHAIRPERSON 1.00 X X 0 0 0 J GERARD JERRY JOLLY BOARD MEMBER 1.00 X 0 0 0 JS SI BROWN III BOARD MEMBER 1.00 X 0 0 0 JAKE L NETTERVILLE EX-OFFICIO 1.00 X 0 0 0 JANET L OLSON BOARD MEMBER 1.00 X 0 0 0 JOHN KIRWAN PHD EX-OFFICIO 1.00 X 0 0 0 JOHN SPAIN BOARD MEMBER 1.00 X 0 0 0 KAREN WILLIAMS MD BOARD MEMBER 1.00 X 0 0 0 MARVIN BORGMEYER BOARD MEMBER 1.00 X 0 0 0 MARY WERNER EX-OFFICIO 1.00 X 0 0 0 MAXINE CORMIER BOARD MEMBER 1.00 X 0 0 0 MONICA ZUMO IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 PAULA P DE LA BRETONNE BOARD MEMBER 1.00 X 0 0 0 SHARON WESTON BROOME EX-OFFICIO 1.00 X 0 0 0 VENEETH IYENGAR BOARD MEMBER 1.00 X 0 0 0 WILLIAM TATE IV EX-OFFICIO 1.00 X 0 0 0 ANDRE GREENE CFO 40.00 X 141531 0 15162 REBECCA SCHUTTE PRESIDENT/CEO 40.00 X 193568 0 17888 335099 0 33050 2 0 1 1 CARE VENTURES LLC 6400 PERKINS ROAD BATON ROUGE LA 70808 CONSULTING SERVICES 160290 MICHAEL MADNICK 27 UNCATENA ROAD MASHPEE MA 02649 CONSULTING SERVICES 122268 2 137841 3121426 25836 3259267 725418 725418 5557866 5625503 -67637 -67637 -67637 47644 137841 76556 -28912 -28912 OTHER INCOME 900099 503570 503570 FUND MANAGEMENT 900099 449688 449688 PMF COST RECOVERY 900099 4500 4500 957758 4845894 890121 0 696506 X 344125 244771 99354 959259 615986 65174 278099 163737 30702 69752 63283 20000 20000 561138 503416 16431 41291 49943 44868 3234 1841 45842 44620 1222 64461 64461 RESEARCH SUPPLIES & EQU 1065222 1065222 BUSINESS DEVELOPMENT 374953 83105 3821 288027 INVESTMENT FEES 227403 227403 MISCELLANEOUS 206745 199312 7433 -14854 -104327 50563 38910 4067974 2710307 545640 812027 103408 257833 370054 191433 944473 1081461 41712 125209 36404 39138 19910 19910 0 0 28436353 24470777 5513 18224 29937917 26184075 271632 274779 98948 748592 6858875 6701726 7229455 7725097 X 1836227 2087561 20872235 16371417 22708462 18458978 29937917 26184075 X 777920 40151 -5067555 X X 0 0 0 X 2373607 3068436 4031345 3454367 3121426 16049181 2373607 3068436 4031345 3454367 3121426 16049181 3031393 13017788 2131968 547966 568822 690991 725418 4665165 313111 424150 755308 850506 957758 3300833 24015179 0.54210 0.49610 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20000 20000 6872063 6892063 494603 123651 0 0 365664 402840 463594 494603 1726701 2590052 28931 20600 20000 20000 89531 91416 100710 115899 123651 431676 647514 12691511 337742 1028466 932130 13125589 14043667 863085 -1362251 -852990 12691511 10926532 187000 3714309 784174 14043667 11564003 187500 -14647 810324 10926532 11708484 322530 405054 872065 11564003 0.00890 0.25610 0.73500 0 0 19910 19910 0 0 INVESTMENT SECURITIES-RESTRICTED 23528300 F ANNUITY HELD BY RABBI TRUST 603832 F BENEFICIAL INTEREST IN LEAD TRUST 338645 F 24470777 FUNDS HELD IN CUSTODY 6097866 OTHER LIABILITES 28 RETIREMENT OBLIGATION 603832 6701726 X 8286700 517359 3130957 -108929 3539387 4747313 98581 98581 4845894 7092077 3130957 -106854 3024103 4067974 0 4067974 PART V, LINE 4: THE FOUNDATION MANAGES ENDOWED CHAIRS, PROFESSORSHIPS, AND POSTDOCTORAL FELLOWSHIPS UNDER THE LOUISIANA BOARD OF REGENTS EMINENT SCHOLARS PROGRAM AND THE ENDOWED PROFESSORSHIPS PROGRAM FOR THE BENEFIT OF THE PENNINGTON BIOMEDICAL RESEARCH CENTER. THESE ENDOWMENTS ARE CREATED BY PRIVATE DONATIONS TO THE FOUNDATION THAT EQUAL 60% OF THE ENDOWMENT MATCHED BY 40% FROM THE REGENTS. ENDOWMENT SPENDING IS PROVIDED EACH YEAR TO THE PENNINGTON BIOMEDICAL RESEARCH CENTER FOR USE BY THE CHAIR/PROFESSORSHIP HOLDERS FOR SALARY SUPPLEMENTS, RESEARCH EQUIPMENT, RESEARCH SUPPLIES, AND OTHER PROGRAM RELATED EXPENDITURES. PART X, LINE 2: THE FOUNDATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE FOUNDATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH THE GUIDANCE INCLUDED IN THE ACCOUNTING STANDARDS CODIFICATION (ASC). THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE RECORDED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN THE RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE FOUNDATION HAS EVALUATED ITS POSITION REGARDING THE ACCOUNTING FOR UNCERTAIN INCOME TAX POSITIONS AND DOES NOT BELIEVE THAT IT HAS ANY MATERIAL UNCERTAIN TAX POSITIONS AT JUNE 30, 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -108,929. PART XI, LINE 4B - OTHER ADJUSTMENTS: BRAY RABBI TRUST INTEREST INCOME 138,732. CHANGE IN VALUE OF SPLIT INTEREST TRUSTS -40,151. PART XII, LINE 2D - OTHER ADJUSTMENTS: TAX DEPRECIATION 2,075. FUNDRAISING EXPENSES -108,929. X X X X X X X 1 THE ANSWER 185485 137841 47644 100 24215 23555 28686 185485 137841 47644 100 24215 23555 28686 76556 -28912 X 0 1 X X X 0 0 0 0 0 0 0 0 0 REBECCA SCHUTTE PRESIDENT/CEO 193568 0 0 0 0 0 9698 0 8190 0 211456 0 0 0 X 1 1985 FAIR MARKET VALUE X 3 3016 FAIR MARKET VALUE X IN-KIND SERVICES FROM THE ANSWER 1 10800 FAIR MARKET VALUE X LSU BASEBALL PACKAGE 1 4000 FAIR MARKET VALUE X NASHVILLE PACKAGE 1 3147 FAIR MARKET VALUE X DINNER FOR 8-12 PEOPLE 1 2888 FAIR MARKET VALUE X CUSTOM TAILORED SPORTS COAT FOR THE ANSWER 1 2500 FAIR MARKET VALUE X 4 NIGHT STAY AT PELICAN VIEW BEACH HOUSE 1 2293 FAIR MARKET VALUE X 18K GOLD AND WHITE DOUBLE WRAP BANGLE BRACLET 1 2000 FAIR MARKET VALUE X DINNER FOR 12 AT WHITE OAK ESTATE AND GARDEN 1 1913 FAIR MARKET VALUE X BASEBALL PACKAGE 1 1000 FAIR MARKET VALUE X STUDIO SESSSION DONATION FOR THE ANSWER 2023 1 750 FAIR MARKET VALUE X INVITE PACKAGES FOR THE ANSWER 1 722 FAIR MARKET VALUE X 2 SEASON PASSES TO BRSO 1 500 FAIR MARKET VALUE X $150 1 500 FAIR MARKET VALUE X ART DONATED BY ARTS COUNCIL WITH A CREDIT TO ANN CONNELLY FINE ART FOR 1 500 FAIR MARKET VALUE X FAMILY MEMBERSHIP 1 375 FAIR MARKET VALUE X FAMILY SEASON TICKETS 1 250 FAIR MARKET VALUE X SEASON PASS AND BOOK 1 240 FAIR MARKET VALUE X FAMILY PASS TO LASM AND ASHLEY LONGSHORE BOOK 1 175 FAIR MARKET VALUE X 1 NIGHT STAY AT WATERMARK HOTEL 1 161 FAIR MARKET VALUE X FAMILY MEMBERSHIP 1 100 FAIR MARKET VALUE X 2 TICKETS TO SEE MORGAN JAMES 1 100 FAIR MARKET VALUE X $100 VOUCHER/GIFT CARD 1 100 FAIR MARKET VALUE X 2 TICKETS TO THE NUTCRACKER SHOW 1 100 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 PAULA PENNINGTON DE LA BRETONNE, DARYL B. PENNINGTON, AND CLAUDE B. PENNINGTON HAVE A BUSINESS RELATIONSHIP AND A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE-AUDIT COMMITTEE HAS REVIEWED FORM 990. A COPY OF THE RETURN WAS PROVIDED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C UPON ELECTION OR APPOINTMENT, EACH OFFICER AND DIRECTOR IS TO MAKE A WRITTEN DISCLOSURE OF INTERESTS, MEMBERSHIPS, RELATIONSHIPS, ARRANGEMENTS, INVESTMENTS AND HOLDINGS THAT POTENTIALLY COULD RESULT IN A MATERIAL CONFLICT BETWEEN THEIR OR THEIR FAMILY'S PERSONAL, PROFESSIONAL OR BUSINESS INTERESTS, AND THOSE OF THE FOUNDATION. IN THE COURSE OF A FOUNDATION MEETING OR ACTIVITY, AN OFFICER OR DIRECTOR IS TO DISCLOSE ANY DIRECT OR INDIRECT INTEREST IN A TRANSACTION OR DECISION THAT COULD POTENTIALLY BE A CONFLICT OF INTEREST. THE OFFICER OR DIRECTOR WILL RECUSE HIMSELF OR HERSELF FROM THE DISCUSSION AND A VOTE ON SUCH A MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE FOUNDATION REVIEWED THE COMPENSATION COMPARABILITY DATA FOR BOTH THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER. THE TYPES OF DATA RELIED UPON INCLUDED THE GUIDE STAR COMPENSATION SURVEY AND VARIOUS FORM 990 TAX RETURNS. THE EXECUTIVE COMMITTEE REPORTED ITS FINDINGS AND RECOMMENDATIONS FOR COMPENSATION TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS APPROVED THE RECOMMENDATION. SUBSTANTIATION OF THE DELIBERATION AND ACTION, INCLUDING THE PROCESS AND DATA USED, WERE DOCUMENTED IN WRITING AND IS MAINTAINED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 18 THE DOCUMENTS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE AND UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 PENNINGTON BIOMEDICAL RESEARCH FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILBLE TO THE PUBLIC THROUGH ITS OWN WEBSITE AND UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 503,416. MANAGEMENT AND GENERAL EXPENSES 16,431. FUNDRAISING EXPENSES 41,291. TOTAL EXPENSES 561,138. FORM 990, PART XI, LINE 9: BOOK TO TAX DIFFERENCE -138,732. PRIOR YEAR ENHANCEMENT -5,307,450. UNREALIZED GAIN AND LOSS 378,627. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PENNINGTON DISCOVERIES INC 6400 PERKINS RD BATON ROUGE LA 70808 721320321 HOLDING COMPANY LA C 1.00000 1 PENNINGTON BIOMEDICAL RESEARCH FOUNDATION TRUST 6400 PERKINS RD BATON ROUGE LA 70808 726144525 GRANTOR TRUST LA T 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1