Koerner Family Foundation
- Assets
- $4.8m
- Revenue
- $145.3k
- Investments
- $4.6m
- Employees
- 0
- Location
- Penn Valley, PA
- Founding
- 03/2005
- Data as of
- 12/2022
- EIN
- 20-1804817
Organization Overview
Koerner Family Foundation is located in Penn Valley, PA. The organization was established in 2005. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Koerner Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Koerner Family Foundation generated $145.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.5%) each year. All expenses for the organization totaled $352.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Koerner Family Foundation has awarded 34 individual grants totaling $908,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE GRADUATE FELLOWSHIPS FOR STUDENTS PURSUING DOCTORAL ENINEERING DEGRESS WITH RESEACH CAREERS AS THEIR LONG-TERM GOALS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Koerner President | 5 | $0 | |
Mary Koerner Treasurer | 3 | $0 | |
Pauline Limberg Secretary | 2 | $0 | |
George Koerner Vice President | 2 | $0 | |
Jamie Koerner Vice President | 2 | $0 | |
Doug Limberg Vice President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,669 |
| Dividends & Interest | $149,002 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$15,373 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $145,298 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,097 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $174 |
| Total operating and administrative expenses | $4,245 |
| Contributions, gifts, grants paid | $348,000 |
| Total expenses and disbursements | $352,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $145,008 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,785,677 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Koerner Family Foundation has awarded $348,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
WORCESTER POLYTECHNIC INSTITUTE PURPOSE: FELLOWSHIP | $48,000 |
UNIVERSITY OF SANTA CRUZ FOUNDATION PURPOSE: FELLOWSHIP | $60,000 |
COLL ENG COMP UNIV SOUTH CAROLINA PURPOSE: FELLOWSHIP | $72,000 |
VIRGINIA COMMONWEALTH UNIVERSITY PURPOSE: FELLOWSHIP | $48,000 |
DREXEL UNIVERSITY PURPOSE: FELLOWSHIPS | $96,000 |
OLD DOMINION UNIVERSITY EDUCATIONAL PURPOSE: FELLOWSHIP | $24,000 |