Karnes Memorial Fund
- Assets
- $1.0m
- Revenue
- $181.6k
- Investments
- $286.8k
- Employees
- 0
- Location
- Fairbury, IL
- Founding
- 04/1986
- Data as of
- 12/2022
- EIN
- 37-6243213
Organization Overview
Karnes Memorial Fund is located in Fairbury, IL. The organization was established in 1986. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Karnes Memorial Fund 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, Karnes Memorial Fund generated $181.6k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $163.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Karnes Memorial Fund has awarded 138 individual grants totaling $328,440. 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
SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas L Ladeairous Chairman | 5 | $0 | |
Daryl Evans Trustee | 5 | $0 | |
Bank Of Pontiac Trustee | 5 | $15,728 | |
Naddene Pilgrim Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $263 |
| Dividends & Interest | $8,529 |
| Net Rental Income | $147,787 |
| Net Gain on Sale of Assets | $8,908 |
| Capital Gain Net Income | $8,908 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,283 |
| Total Revenue | $181,570 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $15,728 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $18,764 |
| Depreciation | $50 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,057 |
| Total operating and administrative expenses | $55,182 |
| Contributions, gifts, grants paid | $108,315 |
| Total expenses and disbursements | $163,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $101,456 |
| 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 | $620,411 |
| Investments—mortgage loans | $0 |
| Investments—other | $286,796 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,008,663 |
| 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, Karnes Memorial Fund has awarded $108,315 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
HEIDI N MAIER PURPOSE: SCHOLARSHIPS | $4,075 |
EMILY J WENGER PURPOSE: SCHOLARSHIPS | $4,075 |
AINSLEY K KRATOCHVIL PURPOSE: SCHOLARSHIPS | $3,140 |
BRADY D QUINN PURPOSE: SCHOLARSHIPS | $3,140 |
PAYTON R DUNAHEE PURPOSE: SCHOLARSHIPS | $3,140 |
KIRRA M GEHRING PURPOSE: SCHOLARSHIPS | $3,140 |