Kern Family Foundation Inc
- Assets
- $3.8m
- Revenue
- $291.8k
- Investments
- $3.8m
- Employees
- 0
- Location
- Erie, PA
- Founding
- 12/2005
- Data as of
- 12/2023
- EIN
- 20-3330559
Organization Overview
Kern Family Foundation Inc is located in Erie, PA. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Kern Family Foundation Inc 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 12/2023, Kern Family Foundation Inc generated $291.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $270.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kern Family Foundation Inc has awarded 84 individual grants totaling $1,792,571. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Kern Sr President | 0 | $0 | |
Nancy R Kern Director | 0 | $0 | |
B Scott Kern Secretary | 0 | $0 | |
C Bruce Kern II Treasurer | 0 | $0 | |
Bonnie Kern Director | 0 | $0 | |
Amy C Kern Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $457,913 |
| Interest on Savings | $0 |
| Dividends & Interest | $44,342 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$210,434 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $291,821 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,967 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $5,817 |
| Contributions, gifts, grants paid | $264,771 |
| Total expenses and disbursements | $270,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,522 |
| Savings and temporary cash investments | $0 |
| 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 | $3,804,299 |
| 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, Kern Family Foundation Inc has awarded $264,771 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ERIE TOGETHER PURPOSE: UNRESTRICTED CONTRIBUTION | $20,000 |
EMMAUS SOUP KITCHEN PURPOSE: UNRESTRICTED CONTRIBUTION | $25,000 |
MLK CENTER PURPOSE: UNRESTRICTED CONTRIBUTION | $10,000 |
ERIE DOWNTOWN PARTNERSHIP PURPOSE: UNRESTRICTED CONTRIBUTION | $15,000 |
JULIA HOSPICE & PALLIATIVE CARE PURPOSE: UNRESTRICTED CONTRIBUTION | $100,000 |
UNITED WAY PURPOSE: UNRESTRICTED CONTRIBUTION | $50,000 |