Jim And Margaret Krum Foundation Inc
- Assets
- $10.8m
- Revenue
- $417.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Hilton Head Island, SC
- Founding
- 10/2010
- Data as of
- 06/2022
- EIN
- 27-1777206
Organization Overview
Jim And Margaret Krum Foundation Inc is located in Hilton Head Island, SC. The organization was established in 2010. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Jim And Margaret Krum 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.
Since 2018, Jim And Margaret Krum Foundation Inc has awarded 83 individual grants totaling $1,588,649. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE KRUM FOUNDATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. ("FOUNDATION"), A PUBLICLY SUPPORTED ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE CODE. A TRADITIONAL COMMUNITY FOUNDATION FOUNDED IN 1994, COMMUNITY FOUNDATION OF THE LOWCOUNTRY, INC. SERVES THE RESIDENTS OF SOUTH CAROLINA COUNTIES: BEAUFORT, COLLETON, HAMPTON, AND JASPER. THE KRUM FOUNDATION WILL FURTHER ITS EXEMPT PURPOSES BY MAKING GRANTS DIRECTLY TO THE COMMUNITY FOUNDATION AND TO ORGANIZATIONS WHICH ARE, OR COULD BE SUPPORTED BY THE COMMUNITY FOUNDATION CONSISTENT WITH ITS OWN CHARITABLE PURPOSES. COMMUNITY FOUNDATION GRANTS ARE AWARDED TO ORGANIZATIONS THAT WORK IN A VARIETY OF CHARITABLE AREAS, INCLUDING ARTS & CULTURE, EDUCATION AND YOUTH DEVELOPMENT, AND HEALTH AND HUMAN SERVICES. BOTH THE KRUM FOUNDATION AND THE COMMUNITY FOUNDATION EXPECT TO MAKE SCHOLARSHIP GRANTS TO INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S ADDITIONAL PROGRAM EXPENSES AID THE FOUNDATION IN ALIGNING THEIR FUNCTIONS WITH THE MISSION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martin Cohn Chairman | OfficerTrustee | 1 | $3,000 |
Hank Noble Director | Trustee | 1 | $3,000 |
Wade Webster Vice Chairman | OfficerTrustee | 1 | $0 |
Emmy Rooney Secretary/treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $417,496 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $417,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,000 |
| Grants and other assistance to domestic individuals. | $371,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,670 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,108 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $252 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $510,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,817,776 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,817,776 |
| Accounts payable and accrued expenses | $1,967 |
| Grants payable | $397,500 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $399,467 |
| Net assets without donor restrictions | $10,418,309 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,817,776 |
Grants Awarded
Over the last fiscal year, Jim And Margaret Krum Foundation Inc has awarded $335,250 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
BAYLOR UNIVERSITY | | | $7,000 |
AUBURN UNIVERSITY | | | $8,000 |
BELMONT UNIVERSITY | | | $8,000 |
CHAMPLAIN UNIVERSITY | | | $8,000 |
CHARLESTON SOUTHERN UNIV | | | $14,000 |
COLLEGE OF CHARLESTON | | | $23,000 |