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Petters Family Foundation

  • Newport News, VA
  • Tax-exempt since Jan. 2012
  • EIN: 45-2323642

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Corporate Foundations (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$15.2M (2024)

Expenses
$2.97M (2024)

Total Assets
$39.2M (2024)

Total Liabilities
$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$15,169,755
Expenses
$2,969,032
Net Income
$12,200,723
Net Assets
$39,182,822
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $2,003,076
13.2%
Sales of Assets $13,160,426
86.8%
Other Income $6,253
0.0%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,743,592
92.4%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $39,182,822
Total Liabilities $0
Net Assets $39,182,822
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 14, 2025

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$5,182,581
Expenses
$2,783,627
Net Income
$2,398,954
Net Assets
$26,982,099
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $967,144
18.7%
Interest Revenue $0
Dividends $1,412,784
27.3%
Sales of Assets $2,793,022
53.9%
Other Income $9,631
0.2%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,648,015
95.1%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $26,982,099
Total Liabilities $0
Net Assets $26,982,099
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 15, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$4,768,861
Expenses
$2,444,884
Net Income
$2,323,977
Net Assets
$25,166,609
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $2,364,000
49.6%
Interest Revenue $0
Dividends $1,233,711
25.9%
Sales of Assets $1,153,606
24.2%
Other Income $17,544
0.4%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,343,095
95.8%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $25,166,609
Total Liabilities $0
Net Assets $25,166,609
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 12, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,505,395
Expenses
$2,049,178
Net Income
-$543,783
Net Assets
$23,972,467
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $643,554
42.7%
Interest Revenue $0
Dividends $1,181,436
78.5%
Sales of Assets -$326,888
Other Income $7,293
0.5%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,960,424
95.7%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $23,972,467
Total Liabilities $0
Net Assets $23,972,467
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 13, 2022

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$3,836,696
Expenses
$3,164,506
Net Income
$672,190
Net Assets
$24,802,842
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $3,160,000
82.4%
Interest Revenue $0
Dividends $1,069,762
27.9%
Sales of Assets $0
Other Income $3,237
0.1%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $3,087,993
97.6%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $24,802,843
Total Liabilities $1
Net Assets $24,802,842
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 14, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$4,255,882
Expenses
$2,665,580
Net Income
$1,590,302
Net Assets
$25,385,588
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $2,935,965
69.0%
Interest Revenue $0
Dividends $1,091,931
25.7%
Sales of Assets $218,209
5.1%
Other Income $9,777
0.2%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,511,863
94.2%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $25,385,589
Total Liabilities $1
Net Assets $25,385,588
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on July 14, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$5,729,478
Expenses
$1,516,513
Net Income
$4,212,965
Net Assets
$24,604,706
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $3,504,997
61.2%
Interest Revenue $0
Dividends $821,689
14.3%
Sales of Assets $1,396,117
24.4%
Other Income $6,675
0.1%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,427,711
94.1%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $24,604,706
Total Liabilities $0
Net Assets $24,604,706
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 13, 2019

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$12,055,145
Expenses
$799,732
Net Income
$11,255,413
Net Assets
$21,390,044
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $11,405,000
94.6%
Interest Revenue $0
Dividends $564,231
4.7%
Sales of Assets $80,023
0.7%
Other Income $5,891
0.0%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $735,400
92.0%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $21,390,044
Total Liabilities $0
Net Assets $21,390,044
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Sauer (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 14, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$3,172,590
Expenses
$809,842
Net Income
$2,362,748
Net Assets
$16,694,631
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $2,938,053
92.6%
Interest Revenue $0
Dividends $386,619
12.2%
Sales of Assets -$152,082
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $747,208
92.3%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $16,694,631
Total Liabilities $0
Net Assets $16,694,631
Compensation
Key Employees and Officers Compensation Other
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
Sarah Fletcher (Vice President) $0 $0
Caroline G Petters (Vice President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$8,104,841
Expenses
$777,868
Net Income
$7,326,973
Net Assets
$19,680,937
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $7,687,000
94.8%
Interest Revenue $0
Dividends $330,975
4.1%
Sales of Assets $86,866
1.1%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $617,929
79.4%
Compensation of Officers* $120,000
15.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $19,680,937
Total Liabilities $0
Net Assets $19,680,937
Compensation
Key Employees and Officers Compensation Other
Sarah Fletcher (Vice President) $60,000 $0
Caroline G Petters (Vice President) $60,000 $0
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 13, 2016

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$8,084,391
Expenses
$362,844
Net Income
$7,721,547
Net Assets
$12,353,964
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $7,370,932
91.2%
Interest Revenue $0
Dividends $281,380
3.5%
Sales of Assets $410,750
5.1%
Other Income $21,329
0.3%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $284,825
78.5%
Compensation of Officers* $47,590
13.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $12,353,964
Total Liabilities $0
Net Assets $12,353,964
Compensation
Key Employees and Officers Compensation Other
Sarah Fletcher (Vice President) $23,795 $0
Caroline G Petters (Vice President) $23,795 $0
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
+ View more people

Document Links

990-PF
Filed on May 13, 2015

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$2,265,880
Expenses
$120,620
Net Income
$2,145,260
Net Assets
$4,632,417
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $2,144,150
94.6%
Interest Revenue $0
Dividends $73,511
3.2%
Sales of Assets $34,769
1.5%
Other Income $13,450
0.6%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $82,403
68.3%
Compensation of Officers* $26,928
22.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $4,632,417
Total Liabilities $0
Net Assets $4,632,417
Compensation
Key Employees and Officers Compensation Other
Sarah Fletcher (Vice President) $13,464 $0
Caroline G Petters (Vice President) $13,464 $0
C Michael Petters (Secretary/Treasurer) $0 $0
Nancy B Petters (President) $0 $0
+ View more people

Document Links

990-PF
Filed on July 21, 2014

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,573,915
Expenses
$70,226
Net Income
$1,503,689
Net Assets
$2,487,172
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $1,521,247
96.7%
Interest Revenue $0
Dividends $42,695
2.7%
Sales of Assets $0
Other Income $19,627
1.2%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $39,263
55.9%
Compensation of Officers* $11,334
16.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $2,487,173
Total Liabilities $1
Net Assets $2,487,172

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,033,510
Expenses
$50,026
Net Income
$983,484
Net Assets
$983,484
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $1,033,346
100.0%
Interest Revenue $0
Dividends $3
0.0%
Sales of Assets $161
0.0%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $50,000
99.9%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $983,484
Total Liabilities $0
Net Assets $983,484

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

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