Skip to main content
bdvzvayavubwauxreausd

Irene W. & C. B. Pennington Foundation

Profile

Last Updated: 2016-06-06

At A Glance

Irene W. & C. B. Pennington Foundation

2237 S. Acadian Thruway, Ste. 705

Baton Rouge, LA United States 70808-2380

Telephone: (225) 928-8346

URL: www.penningtonfamilyfoundation.org

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Family foundation

Financial Data

(yr. ended 2014-12-31)

Assets: $27,035,398

Total giving: $8,811,824

EIN

720938097

BRIDGE Number

3921107976

Background

Established in 1982 in LA - In the 1920s, Claude B. "Doc" Pennington worked as a laborer in Louisiana's emerging oil and gas industry. He eventually practiced the profession of his father - optometry - but once his father died, Doc Pennington returned to the field he loved. In the 1950s, he bought Mount Pleasant Plantation located on 2,000 acres on the Mississippi River bank in northern East Baton Rouge Parish. In 1975, Chevron discovered a rich mineral layer three miles underground. Mount Pleasant was located right above an untapped stretch of oil that spanned through South Louisiana. Mr. Pennington approached Chevron about drilling on his land, but the company declined. He contacted Amoco, which saw promise in the prospect, and in 1977 drilled a well near the Georgia Pacific paper mill, north of the plantation. The well struck one of the largest oil and gas finds in Louisiana history. Mr. Pennington and his wife, Irene Wells Pennington, shared their success with the communities that had been an important part of their lives. In 1982, their private family foundation, the Irene W. and C.B. Pennington Foundation, was established.

Purpose and Activities

Giving primarily to provide philanthropic support to promote the overall well-being of families and communities, especially in the areas of arts and humanities, community development and public safety, disaster resilience, emotional and social learning, human services, medical and mental health, and the environment.

Fields of Interest

Subjects
  • Disasters and emergency management
  • Human services
  • Medical specialties
  • Secondary education
  • Youth development
  • Youth services
Population Groups
  • Academics
  • Children and youth
  • Economically disadvantaged people
  • Low-income and poor people
  • Students
Organizations
  • Multipurpose centers

Financial Data

Year ended 2014-12-31

Assets: $27,035,398 (market value)

Expenditures: $11,912,312

Total giving: $8,811,824

Qualifying distributions: $8,811,824

Giving activities include:

$8,811,824 for 128 grants (high: $1,000,000; low: $2,500)