William R Kenan Jr Fund For The Arts
- Assets
- $30.2m
- Revenue
- $1.5m
- Investments
- $28.5m
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 03/1992
- Data as of
- 06/2022
- EIN
- 58-1976597
Organization Overview
William R Kenan Jr Fund For The Arts is located in Chapel Hill, NC. The organization was established in 1992. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. William R Kenan Jr Fund For The Arts 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 For The Arts generated $1.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 5.3% 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 |
|---|---|---|---|
Thomas S Kenan III Chairman/director | 0 | $0 | |
Liza Kenan Howell Director | 0 | $0 | |
Daniel W Drake President/treasurer/direct | 0 | $0 | |
Elizabeth Price Kenan Vice President/director | 0 | $0 | |
J Haywood Davis Director | 0 | $0 | |
Steven R Armstrong Assistant Treasuer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $801 |
| Dividends & Interest | $637,505 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $823,204 |
| Capital Gain Net Income | $823,204 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,461,510 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $37,249 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $116,794 |
| Total operating and administrative expenses | $386,049 |
| Contributions, gifts, grants paid | $1,635,000 |
| Total expenses and disbursements | $2,021,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,261 |
| Savings and temporary cash investments | $1,295,919 |
| 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 | $292,319 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,348,761 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $30,178,263 |
| 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, William R Kenan Jr Fund For The Arts has awarded $1,251,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNC SCHOOL OF THE ARTS FOUNDATION PURPOSE: SUPPORT FOR THE THOMAS S. KENAN III INSTITUTE FOR THE ARTS | $1,151,250 |
UNC - CAROLINA PERFORMING ARTS PURPOSE: SUPPORT FOR THE 2020-2021 OPERATING BUDGET | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Greater Charlotte Cultural Trust Charlotte, NC | $173,742,321 | $2,357,736 |
Etv Endowment Of South Carolina Inc Spartanburg, SC | $31,848,009 | $11,204,274 |
Virginia Foundation For The Humanities And Public Policy Charlottesville, VA | $13,497,972 | $6,667,303 |
Gwinnett Championship Foundation Inc Duluth, GA | $476,337 | $4,123,025 |
Americans For Public Trust Alexandria, VA | $249,074 | $3,628,537 |
Cobb Community Foundation Inc Atlanta, GA | $18,425,025 | $3,579,591 |
Gaillard Performance Hall Foundation Charleston, SC | $7,942,999 | $750,731 |
Memphis Museums Inc Memphis, TN | $7,243,926 | $3,293,679 |
Artsbuild Chattanooga, TN | $20,819,407 | $7,133,514 |
William R Kenan Jr Fund For The Arts Chapel Hill, NC | $30,178,263 | $1,461,510 |
Chesterfield Cultural Arts Foundation Chester, VA | $1,189,257 | $621,062 |
Fuquay-Varina Arts Foundation Inc Fuquayvarina, NC | $0 | $383,560 |