The William R Kenan Jr Fund
- Assets
- $63.2m
- Revenue
- $9.5m
- Investments
- $60.0m
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 12/1983
- Data as of
- 06/2024
- EIN
- 57-0757568
Organization Overview
The William R Kenan Jr Fund is located in Chapel Hill, NC. The organization was established in 1983. 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. William R Kenan Jr 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 06/2024, William R Kenan Jr Fund generated $9.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $4.8m during the year ending 06/2024. While expenses have increased by 4.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas S Kenan III Vice President/director | 3 | $0 | |
Sterling Kenan Mccracken Director | 3 | $0 | |
Liza Kenan Howell Director | 3 | $0 | |
Daniel W Drake Pres./director | 20 | $178,000 | |
J Haywood Davis Director | 3 | $0 | |
Robert P Baynard Jr Director | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $96,806 |
| Interest on Savings | $126,065 |
| Dividends & Interest | $1,505,995 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,284,941 |
| Capital Gain Net Income | $7,284,941 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $458,647 |
| Total Revenue | $9,472,454 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $280,534 |
| Other employee salaries and wages | $7,911 |
| Pension plans, employee benefits | $17,394 |
| Interest | $0 |
| Taxes | $139,025 |
| Depreciation | $0 |
| Occupancy | $210,232 |
| Travel, conferences, and meetings | $65,455 |
| Printing and publications | $0 |
| Other expenses | $86,740 |
| Total operating and administrative expenses | $1,251,806 |
| Contributions, gifts, grants paid | $3,585,000 |
| Total expenses and disbursements | $4,836,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,896 |
| Savings and temporary cash investments | $1,738,745 |
| 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 | $1,437,101 |
| Investments—mortgage loans | $0 |
| Investments—other | $34,918,432 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $63,174,526 |
| 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, The William R Kenan Jr Fund has awarded $3,451,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION PURPOSE: ECONOMIC POLICY INTITATIVE | $276,500 |
KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION PURPOSE: OPERATIONS | $3,175,000 |