Klem Family Foundation Inc
- Assets
- $1.2m
- Revenue
- $655.1k
- Investments
- $1.2m
- Employees
- 0
- Location
- Armonk, NY
- Founding
- 08/2019
- Data as of
- 12/2022
- EIN
- 84-1937657
Organization Overview
Klem Family Foundation Inc is located in Armonk, NY. The organization was established in 2019. 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. Klem Family 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 12/2022, Klem Family Foundation Inc generated $655.1k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $187.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Klem Family Foundation Inc has awarded 116 individual grants totaling $386,130. 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
KLEM FAMILY FOUNDATION INC PROVIDES CONTRIBUTIONS TO OTHER TAX EXEMPT ORGANIZATIONS FOR CHARITABLE, RELIGIOUS, SCIENTIFIC, EDUCATIONAL OR CULTURAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Klem President & Director | 0 | $0 | |
Elinor Klem Treasurer & Director | 0 | $0 | |
Lisa Klem Director | 0 | $0 | |
Robert E Klem Director | 0 | $0 | |
David J Klem Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500,000 |
| Interest on Savings | $871 |
| Dividends & Interest | $48,074 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $106,135 |
| Capital Gain Net Income | $106,135 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $655,080 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,155 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $5,093 |
| Contributions, gifts, grants paid | $181,910 |
| Total expenses and disbursements | $187,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,922 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Total assets | $1,206,248 |
| 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, Klem Family Foundation Inc has awarded $181,910 in support to 44 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY OF THE HOLY CROSS PURPOSE: GENERAL FUNDS | $15,000 |
ASPETUCK LAND TRUST PURPOSE: GENERAL FUNDS | $3,000 |
ARMONK INDEPENDENT FIRE COMPANY PURPOSE: GENERAL FUNDS | $200 |
BILLION OYSTER PROJECT PURPOSE: GENERAL FUNDS | $5,000 |
CELIAC DISEASE CENTER PURPOSE: GENERAL FUNDS | $10,000 |
CENTER FOR FAMILY JUSTICE PURPOSE: GENERAL FUNDS | $5,000 |