K2 Charitable Foundation
- Assets
- $4.7m
- Revenue
- $1.2m
- Investments
- $3.8m
- Employees
- 0
- Location
- Urbandale, IA
- Founding
- 07/2013
- Data as of
- 12/2023
- EIN
- 46-1208733
Organization Overview
K2 Charitable Foundation is located in Urbandale, IA. The organization was established in 2013. 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. K2 Charitable 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 12/2023, K2 Charitable Foundation generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, K2 Charitable Foundation has awarded 93 individual grants totaling $7,112,179. 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 |
|---|---|---|---|
Kenneth L Smith President | 3 | $0 | |
Robert Wilson Director | 1 | $0 | |
John Lamale Treasurer | 1 | $0 | |
Barry Luchtel Secretary | 1 | $0 | |
Landon Luchtel Vice President | 1 | $0 | |
Tom Gilbert Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $368,045 |
| Interest on Savings | $22,983 |
| Dividends & Interest | $96,488 |
| Net Rental Income | $82,243 |
| Net Gain on Sale of Assets | $648,511 |
| Capital Gain Net Income | $648,511 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,232,527 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $19,787 |
| Depreciation | $17,486 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $51,589 |
| Total operating and administrative expenses | $91,466 |
| Contributions, gifts, grants paid | $1,506,650 |
| Total expenses and disbursements | $1,598,116 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,130 |
| Savings and temporary cash investments | $410,764 |
| 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 | $494,870 |
| Investments—mortgage loans | $661,181 |
| Investments—other | $581,174 |
| Net Land, buildings, and equipment | $771 |
| Other assets | $0 |
| Total assets | $4,693,148 |
| Accounts payable and accrued expenses | $20,223 |
| 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 | $20,223 |
Grants Awarded
Over the last fiscal year, K2 Charitable Foundation has awarded $1,506,650 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
AGAPE PREGNANCY RESOURCE CENTER PURPOSE: PREGNANCY COUNSELING | $2,000 |
EASTER SEALS PURPOSE: ASSISTING KIDS WITH DISABILITIES | $2,000 |
FELLOWSHIP OF CHRISTIAN ATHLETES PURPOSE: CHRISTIAN FELLOWSHIPRELIGIOUS TEACHING | $500 |
FREEDOM FOR YOUTH PURPOSE: ASSIST LOST AND HURTING KIDS WHO ARE WITHOUT A HOME IN IOWA | $504,150 |
GREATER DES MOINES COMMUNITY FOUNDATION PURPOSE: SUPPORTS A VARIETY OF IOWA NONPROFITS FOR KIDS | $6,000 |
HAITI CHRISTIAN DEVELOPMENT FUND PURPOSE: RELOCATION AND REDISTRIBUTION OF THE POOR IN HAITI | $650,000 |