Kernsville Foundation Inc
- Assets
- $3.2m
- Revenue
- $67.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Kernersville, NC
- Founding
- 04/1999
- Data as of
- 12/2023
- EIN
- 52-2168471
Organization Overview
Kernsville Foundation Inc is located in Kernersville, NC. The organization was established in 1999. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kernsville 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 12/2023, Kernsville Foundation Inc generated $67.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (15.1%) each year. All expenses for the organization totaled $473.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Kernsville Foundation Inc has awarded 95 individual grants totaling $2,203,296. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS, COMUNITY PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND SUPPORT FOR LOCAL COMMUNITY PROJECTS OF LOCAL COMMUNITY GROUPS, LOCAL RELIGOUS GROUPS AND MINISTRIES, AND LOCAL HISTORIC GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Taylor President | $0 | ||
James Bland Vice-President | $0 | ||
Dona Neal Treasurer | $0 | ||
Jason Grubs Secretary | $0 | ||
Overton Harper Director | $0 | ||
Ron Greene Director | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $16,000 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,932 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $136,932 |
| Total Program Service Revenue | $0 |
| Investment income | $67,721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$136,759 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $442,274 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $7,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,942 |
| Fees for services: Other | $0 |
| Advertising and promotion | $300 |
| Office expenses | $602 |
| 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 | $5,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,604 |
| All other expenses | $0 |
| Total functional expenses | $473,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $447 |
| Savings and temporary cash investments | $556,229 |
| 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 | $44,456 |
| Investments—publicly traded securities | $2,623,519 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,224,651 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,062,869 |
| Net assets with donor restrictions | $2,161,782 |
| 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 | $3,224,651 |
Grants Awarded
Over the last fiscal year, Kernsville Foundation Inc has awarded $343,002 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
GENONE PURPOSE: LOCAL COMMUNITY PROJECTS | $22,000 |
MAIN STREET METHODIST CHURCH PURPOSE: LOCAL COMMUNITY PROJECTS | $36,400 |
LINVILLE FOREST CHURCH OF CHRIST PURPOSE: LOCAL COMMUNITY PROJECTS | $24,887 |
KORNER'S FOLLY PURPOSE: LOCAL COMMUNITY PROJECTS | $129,500 |
CCM PURPOSE: LOCAL COMMUNITY PROJECTS | $5,250 |
KERNERSVILLE LITTLE THEATRE PURPOSE: LOCAL COMMUNITY PROJECTS | $14,750 |