Rita Barbour Kern Foundation
- Assets
- $20.1m
- Revenue
- $681.1k
- Investments
- $17.4m
- Employees
- 0
- Location
- Toledo, OH
- Founding
- 06/2015
- Data as of
- 12/2022
- EIN
- 46-4475109
Organization Overview
Rita Barbour Kern Foundation is located in Toledo, OH. The organization was established in 2015. 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. Rita Barbour Kern 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 12/2022, Rita Barbour Kern Foundation generated $681.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Rita Barbour Kern Foundation has awarded 15 individual grants totaling $4,006,409. 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
N/A NO DIRECT CHARITABLE ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nan L Wallace Trustee | 0.5 | $5,000 | |
Roger Berkowitz Trustee | 1.5 | $7,500 | |
David C Krock Trustee | 2 | $7,500 | |
Nancy E Hibbert Trustee | 1 | $5,000 | |
Carolyn M Putney Trustee | 0.5 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,940 |
| Dividends & Interest | $469,725 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $165,786 |
| Capital Gain Net Income | $165,786 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $33,663 |
| Total Revenue | $681,114 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,519 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $146,552 |
| Contributions, gifts, grants paid | $1,159,000 |
| Total expenses and disbursements | $1,305,552 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,634,680 |
| 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 | -$8,769 |
| Total assets | $20,060,200 |
| 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, Rita Barbour Kern Foundation has awarded $1,159,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TOLEDO MUSEUM OF ART PURPOSE: GIFT TO QUALIFIED CHARITABLE ORGANIZATION PURSUANT TO THE TERMS OF THE FOUNDATION | $765,000 |
TOLEDO ORCHESTRA ASSOCIATION PURPOSE: GIFT TO QUALIFIED CHARITABLE ORGANIZATION PURSUANT TO THE TERMS OF THE FOUNDATION | $384,000 |
DORSET VILLAGE LIBRARY PURPOSE: GIFT TO QUALIFIED CHARITABLE ORGANIZATIO PURSUANT TO THE TERMS OF THE FOUNDATION. | $10,000 |