The William R Kenan Jr Fund
- Assets
- $58.6m
- Revenue
- $3.3m
- Investments
- $54.8m
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 12/1983
- Data as of
- 06/2022
- 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 06/2022, William R Kenan Jr Fund generated $3.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $4.6m during the year ending 06/2022. While expenses have increased by 6.3% 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 |
|---|---|---|---|
Daniel W Drake Pres./treasurer/direct | 20 | $163,000 | |
Susan Bowser Assistant Secretary | 20 | $93,734 | |
Thomas S Kenan III Vice President/director | 3 | $0 | |
Elizabeth Price Kenan Director | 3 | $0 | |
J Haywood Davis Director | 3 | $0 | |
Liza Kenan Howell Director | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,558 |
| Dividends & Interest | $1,228,022 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,658,010 |
| Capital Gain Net Income | $1,658,010 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $440,940 |
| Total Revenue | $3,328,530 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $256,734 |
| Other employee salaries and wages | $5,905 |
| Pension plans, employee benefits | $11,488 |
| Interest | $0 |
| Taxes | $74,276 |
| Depreciation | $0 |
| Occupancy | $212,323 |
| Travel, conferences, and meetings | $5,748 |
| Printing and publications | $1,024 |
| Other expenses | $73,963 |
| Total operating and administrative expenses | $1,136,861 |
| Contributions, gifts, grants paid | $3,451,500 |
| Total expenses and disbursements | $4,588,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,872 |
| Savings and temporary cash investments | $2,455,151 |
| 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 | $500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $1,300,215 |
| Investments—mortgage loans | $0 |
| Investments—other | $31,355,806 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $58,618,980 |
| 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 | $74 |
| Total liabilities | $74 |
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 |
|---|---|
Chapel Hill, NC PURPOSE: OPERATIONS | $3,175,000 |
Chapel Hill, NC PURPOSE: ECONOMIC POLICY INTITATIVE | $276,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |
Edward C And Linda Dresner Levy Foundation Reston, VA | $6,482,787 | $4,609,179 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |