Kern Family Foundation Inc
- Assets
- $4.1m
- Revenue
- $807.7k
- Investments
- $4.1m
- Employees
- 0
- Location
- Erie, PA
- Founding
- 12/2005
- Data as of
- 12/2021
- 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 12/2021, Kern Family Foundation Inc generated $807.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $490.9k during the year ending 12/2021. While expenses have increased by 11.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kern Family Foundation Inc has awarded 68 individual grants totaling $1,377,800. 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 |
|---|---|---|---|
C Bruce Kern II Treasurer | 0 | $0 | |
Nancy R Kern Director | 0 | $0 | |
B Scott Kern Secretary | 0 | $0 | |
Bonnie Kern Director | 0 | $0 | |
Amy C Kern Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $423,825 |
| Interest on Savings | $0 |
| Dividends & Interest | $24,014 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $359,811 |
| Capital Gain Net Income | $359,811 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $807,650 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $102 |
| Total operating and administrative expenses | $927 |
| Contributions, gifts, grants paid | $490,000 |
| Total expenses and disbursements | $490,927 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,938 |
| 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 | $4,129,014 |
| 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 $273,500 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: KERN FAMILY FOUNDTION | $150,000 |
Erie, PA PURPOSE: GENERAL FUND | $25,000 |
Erie, PA PURPOSE: COMMUNITY SERVICES | $25,000 |
ERIE TOGETHER PURPOSE: GENERAL FUND | $20,000 |
Erie, PA PURPOSE: GENERAL FUND | $10,000 |
EMMAUS MINISTRIES SOUP KITCHEN PURPOSE: GENERAL FUND | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |